PARIS, France — In a bold move to expand its luxury portfolio, French cosmetics giant L’Oreal has expressed interest in acquiring a stake in the Italian fashion house Armani, even as it finalizes a landmark $4.6 billion deal to purchase Kering’s beauty division. The announcement comes just days after L’Oreal and Kering, the parent company of Gucci, revealed the acquisition, which includes exclusive licences for iconic brands such as Gucci, Bottega Veneta, and Balenciaga starting in 2028.
分类： business
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Nutrien to shut down Trinidad nitrogen operations
Nutrien Ltd, a leading global crop-input producer based in Canada, has announced a controlled shutdown of its Trinidad Nitrogen operations at the Point Lisas Industrial Estate, effective October 23. The decision stems from ongoing port access restrictions imposed by Trinidad and Tobago’s National Energy Corporation (NEC) and persistent challenges in securing affordable and reliable natural gas supplies. These issues have significantly reduced the free cash flow contribution of the Trinidad operations over an extended period.
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KFTL invests in modernisation to strengthen port operations
KINGSTON, Jamaica — Kingston Freeport Terminal Limited (KFTL) is making significant strides in its modernization and expansion efforts with the acquisition of two cutting-edge ship-to-shore cranes, valued at nearly US$24 million. This strategic move underscores KFTL’s commitment to establishing Jamaica as a premier logistics hub in the Caribbean region.
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Murally appointed Carib managing director
In a landmark appointment, Leesa Murally has been named the first female managing director of Carib Brewery Ltd, a subsidiary of the Ansa McAL group, effective November 1. This historic move underscores the company’s commitment to diversity and leadership excellence. Murally, who currently serves as the beverage sector’s chief financial officer and corporate secretary to the board of Caribbean Development Company Ltd (CDC), brings a wealth of experience in finance, risk management, and corporate governance. Her career spans key roles at CDC and Witco, and she currently sits on the boards of CDC, Bayside Towers, and Community Chest. Murally’s academic credentials include an MBA in strategic planning from Heriot-Watt University, and she is a Fellow of the ACCA and a Certified Internal Auditor. Known for her people-centered leadership style, Murally has a proven track record of driving continuous improvement, fostering data-driven decision-making, and enhancing governance and cybersecurity. In addition to Murally’s appointment, Ansa McAL announced David Welch as the new managing director of AMCO, effective November 1. Welch, with over 25 years of experience in the FMCG industry, previously served as managing director of Carib Brewery and marketing director at CBL. The group expressed confidence that both leaders will play pivotal roles in advancing the beverage and distribution sectors’ growth and success.
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Witco announces change in directors
The West Indian Tobacco Company Ltd (Witco) has witnessed a significant change in its leadership as Luis Verenzuela resigned from his position as a director, effective October 10. Verenzuela, who joined the board in July 2023, is set to transition into a new role within the British American Tobacco (BAT) group. His departure was officially announced on the TT Stock Exchange website on October 21. Taking over Verenzuela’s responsibilities is Gustavo Gonzalez, who assumed the role of director on October 16. Gonzalez boasts an impressive track record, having spent over two decades with the BAT group, most recently serving as the operations director for Latin America North and Caribbean. The board of directors expressed gratitude for Verenzuela’s contributions and extended a warm welcome to Gonzalez, highlighting his extensive experience and expertise.
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IMF Managing Director says global economy performing better than expected, but challenges persist
In a press conference held during the IMF/World Bank Annual Meetings in Washington, D.C., IMF Managing Director Kristalina Georgieva provided a cautiously optimistic assessment of the global economy. Despite facing significant geopolitical and economic pressures, the global economy has demonstrated unexpected resilience, performing ‘better than expected, but worse than needed.’ Georgieva highlighted the impact of fluctuating tariffs, political uncertainty, and recession fears over the past six months, which have tested economic stability worldwide. The IMF’s latest World Economic Outlook reveals that global growth remains steady, with projections indicating a slight slowdown from 3.3 percent in the previous year to 3.2 percent this year and 3.1 percent in 2026. Georgieva attributed this resilience to stronger policy fundamentals in emerging markets and the private sector’s swift adaptation through frontloading imports and reinforcing supply chains. However, she cautioned that medium-term growth prospects remain weak, with public debt nearing record highs and global imbalances persisting. Georgieva emphasized the need for countries to focus on unlocking private sector growth, securing strong macroeconomic fundamentals, and addressing global imbalances to strengthen economic resilience. The meetings concluded on Friday at the IMF headquarters in Washington, D.C.
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VIDEO: Most government vehicles with ‘A’ plates to be recalled and given ‘G’ plates
Vehicle Shipped to Dominica an A.i creation
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Farmers, exporters warn of trouble beneath Saint Lucia’s sea moss boom
Saint Lucia’s burgeoning sea moss industry, once celebrated for its premium quality and unique harvesting methods, is now facing a crisis of devaluation due to weak oversight and increasing competition. Local farmers and exporters are urging authorities to expedite efforts to regulate and standardize the sector, warning that the island’s once-lucrative product is losing its market edge.
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Selena Whyte’s St Thomas no longer the forgotten parish for business
St Thomas, often referred to as Jamaica’s ‘forgotten parish,’ is undergoing a significant transformation, emerging as a vibrant hub for micro, small, and medium-sized enterprises (MSMEs). Spearheaded by the Jamaica Business Development Corporation (JBDC), the parish is witnessing a surge in entrepreneurial activity, particularly in sectors like cosmetology, skincare, aromatherapy, and retail. Located at 49 Queen Street in Morant Bay, the JBDC Business Centre serves as a pivotal resource for local entrepreneurs, offering a range of support services to help them formalize and scale their operations. Selena Whyte, a dedicated business development officer at the centre, has been instrumental in this shift. With years of experience and a deep understanding of the parish’s cultural and economic landscape, Whyte provides hands-on coaching, formalization support, and access to critical resources. Despite the parish’s potential, entrepreneurs in St Thomas face significant challenges, particularly in securing funding. Many MSMEs start with minimal capital, relying on personal savings or family support. Whyte emphasizes that while funding is a major hurdle, other obstacles like marketing, packaging, and market research also impede growth. To address these issues, the JBDC offers a structured program that guides entrepreneurs through business registration, market validation, pricing strategies, and regulatory compliance. Whyte’s commitment to fostering business development is deeply personal, rooted in her own journey from assisting her mother’s corner shop to becoming a trusted advisor at JBDC. She believes that empowering local businesses is key to transforming St Thomas and its communities. Entrepreneurs interested in tapping into this growing business ecosystem can contact Selena Whyte at 876-516-8158 or 876-436-3925 for a consultation.
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CDB, OPEC Fund forge partnership to boost Caribbean development
In a historic move, the Caribbean Development Bank (CDB) and the OPEC Fund for International Development have inked a groundbreaking Memorandum of Understanding (MOU) to bolster cooperation and expedite sustainable development across the Caribbean region. The agreement, signed during the International Monetary Fund-World Bank Annual Meetings in Washington, DC, outlines a comprehensive framework for collaboration in critical sectors including climate resilience, renewable energy, food security, infrastructure development, and youth empowerment. This partnership aims to facilitate joint financing initiatives, technical assistance, and knowledge sharing, enabling Borrowing Member Countries (BMCs) to access innovative resources and solutions. CDB President Daniel Best hailed the MOU as a transformative step toward reshaping the region’s development trajectory. He emphasized that strategic alliances between multilateral development banks are essential for addressing global challenges and advancing the Sustainable Development Goals (SDGs). The collaboration will focus on project preparation, regional dialogues, and capacity building, with priority areas such as climate-smart agriculture, water security, digital connectivity, and private sector expansion. Best highlighted the unique synergy between CDB’s regional expertise and the OPEC Fund’s global reach, which he said would unlock unprecedented opportunities for Caribbean nations. The partnership will also support youth empowerment, technical and vocational training, and innovative financing mechanisms like debt-for-sustainability swaps and blue economy projects, further cementing the Caribbean’s role as a leader in climate resilience and sustainable development.