分类: business

  • US Warns Over Property Dispute in Antigua, Cautions Investors

    US Warns Over Property Dispute in Antigua, Cautions Investors

    The U.S. Department of State has issued a warning to American investors regarding real estate investments in Antigua and Barbuda, citing an unresolved property dispute involving alleged expropriation of a U.S.-owned asset. The caution was highlighted in the 2025 Investment Climate Statement released in September, which raised concerns about the security of property rights in the Caribbean nation. While Antigua and Barbuda actively promotes foreign investment across sectors such as tourism and agriculture, the unresolved case has cast a shadow over its otherwise favorable investment climate. The report emphasized the need for careful consideration when investing in real estate, though it did not disclose specific details about the property or the parties involved. Despite the government’s assurances that it will not expropriate investments without due process and compensation, the dispute underscores potential gaps in enforcement of legal protections. This warning serves as a reminder of the risks that can accompany foreign investments, even in seemingly open markets.

  • Global Ports Holding is investing $250 million In Antigua and Barbuda and other major ports

    Global Ports Holding is investing $250 million In Antigua and Barbuda and other major ports

    Global Ports Holding (GPH), the world’s largest cruise port operator, is spearheading a $250 million initiative to transform cruise destinations across the Caribbean and Europe. The ambitious project, set to unfold through 2027, includes the construction of new pools, terminals, and piers, alongside upgrades to existing facilities. Key developments are underway in Nassau (The Bahamas), Antigua & Barbuda, St. Lucia, Las Palmas (Spain), and San Juan (Puerto Rico).

    In Nassau, the West Marina Pool is slated to open by mid-October 2025, followed by a Superyacht Marina by year-end. Antigua’s port district in St. John’s is being reimagined with a homeport terminal for turnaround operations, complemented by new retail, dining, and public amenities. St. Lucia’s Point Seraphine is undergoing upgrades to accommodate the region’s largest cruise ships, while Las Palmas is set to unveil Europe’s largest cruise terminal by September 2025, capable of hosting up to five ships and 12,000 passengers.

    Mehmet Kutman, Chairman and CEO of GPH, emphasized the company’s commitment to creating world-class destinations that benefit both passengers and local communities. The projects aim to enhance the guest experience, foster economic growth, and deliver sustainable infrastructure. GPH’s expansion also includes new terminals in Alicante and the Canary Islands, further solidifying its global presence. By integrating modern facilities with retail, dining, and public spaces, GPH is positioning its ports as premier destinations for cruise travelers.

  • VIDEO: Antigua & Barbuda PM condemns Cuba’s continued inclusion on list of countries sponsoring terrorism

    VIDEO: Antigua & Barbuda PM condemns Cuba’s continued inclusion on list of countries sponsoring terrorism

    Antigua & Barbuda PM condemns Cuba’s continued inclusion on list of countries sponsoring terrorism

  • Barge Purchase Advances Dredging Projects at St. John’s and Crabbs Harbours

    Barge Purchase Advances Dredging Projects at St. John’s and Crabbs Harbours

    Antigua and Barbuda is taking decisive steps to enhance its port infrastructure by acquiring a barge to support ongoing dredging projects at St. John’s and Crabbs harbours. This initiative is a critical component of the nation’s broader port expansion strategy, aimed at boosting cargo handling and cruise ship capacity. Maurice Merchant, Director General of Communications, emphasized the necessity of the barge during a recent Cabinet press briefing, stating that previously procured equipment cannot function without it. Two barges have been identified, and the government is currently evaluating the most cost-effective option without compromising quality. The dredging efforts are part of a comprehensive upgrade that includes the introduction of a US$6.2 million mobile harbor crane. Additionally, the government plans to relocate the Coast Guard to Camp Blizzard, freeing up valuable waterfront space for future development. These upgrades are expected to enhance operational efficiency, attract more business, and contribute to national revenue growth, positioning Antigua and Barbuda as a competitive shipping and tourism hub in the Eastern Caribbean.

  • NGO behind U.S. senators enquiry into ExxonMobil tax filings

    NGO behind U.S. senators enquiry into ExxonMobil tax filings

    A New York-based non-governmental organization, the Oil and Gas Governance Network (OGGN), has been credited with prompting three U.S. senators to investigate ExxonMobil’s tax practices in Guyana. The senators—Sheldon Whitehouse (Rhode Island), Chris Van Hollen (Maryland), and Jeff Merkley (Oregon)—raised concerns about potential misuse of American taxpayer funds, alleging that ExxonMobil may be exploiting tax loopholes to claim credits for taxes it did not pay in Guyana. The OGGN, led by Professor Kenrick Hunte and Mike Persaud, provided the senators with critical information that led to the inquiry. Dr. Vincent Adams, a former head of Guyana’s Environmental Protection Agency, highlighted the NGO’s role in exposing what he described as a scheme where ExxonMobil allegedly uses fake Guyanese tax certificates to claim U.S. tax credits. The senators’ letter to ExxonMobil CEO Darren Woods questions whether the company directly paid taxes in Guyana or if the Guyanese government covered these payments from its share of oil profits. The inquiry also examines ExxonMobil’s partnership with China’s state-owned CNOOC and its implications for U.S. tax liabilities. The senators have set a deadline of October 23, 2025, for ExxonMobil to respond to their seven detailed questions regarding its tax practices and the 2016 Production Agreement with Guyana. The investigation could have significant implications for U.S. tax policy, potentially saving taxpayers an estimated $71.5 billion over a decade by closing existing loopholes.

  • Latest Consumer Price Index Shows Lower Prices Overall, Meat and Seafood Show Small Rise

    Latest Consumer Price Index Shows Lower Prices Overall, Meat and Seafood Show Small Rise

    The Statistics Division, operating under the Ministry of Finance and Corporate Governance, has released the Consumer Price Index (CPI) data for May 2025, revealing a continued downward trend in inflation. Over the twelve months ending in May, the CPI declined by 0.6%, following a 1.2% drop in April. Similarly, the All Items Less Food and Energy index fell by 1.4% during the same period. These declines were primarily driven by reductions in housing, water, electricity, gas, transport, and household maintenance costs. Notably, the index for Furnishings, Household Equipment, and Routine Household Maintenance plummeted by 5.1%, while Transport Services saw a significant 13.0% decrease. Collectively, these categories account for 45.7% of the All Items Less Food and Energy index. On a monthly basis, the CPI decreased by 0.6%, with the Food and Non-Alcoholic Beverages Index dropping by 0.3%. The Food Index experienced a slight decline of 0.4%, with six out of nine major supermarket food groups recording decreases. Key contributors to this decline included Milk, Cheese and Eggs (-3.1%), Bread and Cereals (-2.5%), and Vegetables (-1.0%). However, Meat and Meat Products and Fish and Seafood saw increases of 3.4% and 1.1%, respectively. The Non-Alcoholic Beverage Index rose by 1.5%, driven by a 5.7% increase in Fruit and Vegetable Juices. The CPI, a key measure of inflation, tracks the average price changes of goods and services purchased by households. Prices are collected monthly and quarterly from supermarkets and other suppliers, with expenditure patterns derived from household budget surveys. For more detailed methodology and access to the full CPI report for May 2025, visit the Statistics Division’s official website at www.statistics.gov.ag.

  • Antiguan Miguel Southwell Takes Charge at Airport

    Antiguan Miguel Southwell Takes Charge at Airport

    The Antigua and Barbuda Airport Authority (ABAA) has announced the engagement of Brakkam Aviation Management, LLC (Brakkam) to provide interim executive leadership and strategic support during the transition period following the departure of its permanent Chief Executive Officer. This collaboration aims to ensure operational continuity and enhance the efficiency, safety, customer experience, financial sustainability, and environmental stewardship of the airports managed by ABAA. Brakkam will also assist in the recruitment of a new CEO and advise on improvements to meet international aviation standards. ABAA, established under the Airport Authority Act of 2006, oversees the V.C. Bird International Airport in Antigua and the Barbuda International Airport in Barbuda. This partnership comes at a crucial juncture as ABAA prepares for the 2026 ICAO audit and certification of both airports. ABAA Chairman Rolston Potter emphasized the importance of this engagement, stating, ‘Brakkam’s proven expertise in global aviation management will position ABAA to exceed international standards and solidify its role as a key international hub.’ Brakkam, headquartered in Atlanta, Georgia, boasts a distinguished portfolio, having worked with major clients such as the World Bank Group, the Guangdong Airport Authority in China, and the Airports Authority of Jamaica. The firm has also provided consultancy services to the governments of St. Lucia and the British Virgin Islands. Miguel Southwell, founder and principal of Brakkam, has been appointed as the project leader and Interim CEO of ABAA, effective September 29, 2025. With over four decades of aviation experience, Southwell’s career highlights include leadership roles at Hartsfield-Jackson Atlanta International Airport, the world’s busiest passenger airport, and Miami International Airport. His extensive contributions to the aviation sector include advisory roles for CARICOM on regional air connectivity and leadership positions within the Airports Council International (ACI). Southwell’s appointment is expected to bring a wealth of knowledge and strategic vision to ABAA, ensuring its continued growth and success in the global aviation landscape.

  • Jamaica spends four times more on imports than it earns from exports – STATIN

    Jamaica spends four times more on imports than it earns from exports – STATIN

    Jamaica’s trade imbalance has significantly worsened, with the country spending four times more on imports than it earned from exports during the first five months of 2025, according to the Statistical Institute of Jamaica (STATIN). The data reveals that Jamaica’s total import expenditure reached US$3,161.5 million, while export earnings stood at a mere US$773.0 million. This represents a 3.6% increase in import value compared to the same period in 2024, driven by higher spending on raw materials, consumer goods, and fuels. On the other hand, exports declined by 6.9%, primarily due to a sharp 26.8% drop in mineral fuel revenues. Jamaica’s major trading partners included the USA, China, Brazil, Nigeria, and Japan, with import costs from these nations rising by 9.8%. Meanwhile, export revenues to top destinations such as the USA, Russia, Iceland, Canada, and the Netherlands fell by 0.7%, further exacerbating the trade deficit.

  • Apology to Fesco and CEO Mr Jeremy Barnes

    Apology to Fesco and CEO Mr Jeremy Barnes

    The Jamaica Observer has issued a formal apology for incorrectly attributing a statement about Fesco’s market position to Mr. Jeremy Barnes, the company’s CEO, in a recent BusinessWeek article titled ‘Fesco Fuel Sales Surge 7.4%’. The publication acknowledged that Mr. Barnes did not make the quoted remark and expressed regret for the error and any resulting confusion among its readers. As part of its corrective measures, the Observer has removed the misattributed quote from all its published materials. This incident highlights the importance of accurate reporting and the potential consequences of misinformation in business journalism. The Observer has reaffirmed its commitment to upholding journalistic integrity and ensuring the reliability of its content moving forward.

  • Antigua Prepares for Busy Cruise Season With Hundreds of Calls Scheduled

    Antigua Prepares for Busy Cruise Season With Hundreds of Calls Scheduled

    Antigua and Barbuda is poised for an exceptionally vibrant 2025–2026 cruise season, with a staggering 540 ship calls scheduled between October 2025 and April 2026, as revealed in the latest calendar update from Antigua Cruise Port. Published on September 25, 2025, the schedule features a diverse array of cruise operators, including industry giants such as Royal Caribbean International, Princess Cruises, Celebrity Cruises, MSC Cruises, Disney Cruise Line, and Cunard. While the majority of these vessels will dock in St. John’s, the ports of Falmouth and Barbuda are also set to welcome a significant number of arrivals. The season will encompass a mix of transit stops, homeport operations, and overnight stays, catering to vessels of varying sizes—from intimate boutique luxury ships carrying fewer than 200 passengers to colossal megaships accommodating over 4,000 travelers. With multiple days expected to host two or more ships simultaneously, the upcoming season is anticipated to be one of the busiest in recent memory. Although the schedule outlines maximum vessel capacities, actual occupancy rates may vary. Antigua Cruise Port has emphasized that all berthing assignments and times remain subject to change, reflecting the dynamic nature of cruise operations. This surge in maritime activity is expected to provide a substantial boost to the local economy, particularly in tourism and related sectors.