In the latest financial update from Kingston, Jamaica, the US dollar experienced a minor decline in value on Thursday, October 9. According to the Bank of Jamaica’s daily exchange trading summary, the US dollar concluded the trading day at $161.53, marking a decrease of eight cents from its previous rate. This subtle dip reflects ongoing fluctuations in the global currency market. On the other hand, the Canadian dollar showed a slight upward trend, closing at $116.10, up from $116.06. Similarly, the British pound also saw an increase, ending the day at $216.53 compared to its earlier rate of $215.80. These movements highlight the dynamic nature of currency exchange rates and their responsiveness to various economic factors.
分类： business
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WIOC AGM postponed due to tropical storm watch
The West Indies Oil Company (WIOC) has announced the postponement of its Annual General Meeting, which was initially scheduled for Thursday, October 9, 2025. This decision comes as Antigua and Barbuda remain under a Tropical Storm Watch, prompting concerns for the safety of staff and stakeholders. The company acted on the advice of the Director of the Antigua and Barbuda Meteorological Service, emphasizing the importance of prioritizing safety during severe weather conditions. WIOC has stated that a new date for the meeting will be determined following consultations with the board chairman. Further updates will be provided once the situation stabilizes. The company’s proactive approach underscores its commitment to the well-being of its employees and partners amidst unpredictable weather patterns.
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Caribbean Tourism Organization signs MOU partnering with Travel Unity for sustainable tourism
In a landmark move to enhance sustainable and inclusive tourism, the Caribbean Tourism Organization (CTO) has formalized a partnership with Travel Unity, a New York-based nonprofit. The agreement, signed this past summer by Roni Weiss, Executive Director of Travel Unity, and Dona Regis-Prosper, Secretary-General & CEO of CTO, aims to foster inclusive practices across the Caribbean’s tourism sector. The collaboration leverages Travel Unity’s expertise in accessible travel to position the Caribbean as a globally welcoming destination. Travel Unity, established in 2016 as a 501(c)(3) charitable organization, focuses on making travel accessible through education, professional development, and community engagement. The Memorandum of Understanding outlines joint initiatives, including annual webinars on inclusive tourism, sharing regional success stories, collaborative travel promotions, and youth engagement through CTO’s Nex-Gen Tourism Showcase. Travel Unity will spotlight CTO’s initiatives and provide speaking opportunities for CTO representatives at international events. In return, CTO will promote Travel Unity’s educational programs and webinars within its network. Dona Regis-Prosper emphasized the partnership’s significance, stating it underscores CTO’s commitment to socially inclusive tourism and equips members with tools to enhance long-term competitiveness.
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DR firms Newlink and Multiplicity launch alliance to transform national talent management
In a groundbreaking move, the Dominican Republic’s corporate sector is set to undergo a transformative shift with the strategic partnership between Newlink, renowned as The Engagement Company, and Multiplicity, a trailblazer in competency evaluation. This collaboration aims to introduce cutting-edge methodologies for talent selection and development, with the ultimate goal of enhancing employee loyalty, fostering innovation, and boosting competitiveness across the nation’s productive industries. The alliance directly responds to the growing demand within the Dominican business community for more sophisticated and effective tools to attract, evaluate, and nurture talent, while simultaneously strengthening strategic communication and external relations capabilities. Newlink brings to the table its expertise in strategic communication, digital management, organizational reputation, and market analysis, underpinned by its globally recognized “Orbital Thinking” framework. Additionally, the firm will integrate its internal Culture Unit, which focuses on organizational well-being, internal communications, and change management. Multiplicity, operating across Spain, Mexico, Colombia, and Venezuela, contributes its innovative talent diagnostics portfolio, including precise competency detection and a high-technology evaluation system. Natalia Batista, CEO of Multiplicity, emphasized that this partnership will mark a pivotal moment in how Dominican companies attract, retain, and empower their human talent. Eduardo Valcárcel, Managing Partner of Newlink, highlighted the broader vision of the alliance, stating that it aims not only to foster company growth but also to create a positive societal impact by building more dynamic, productive, and human-centered workplaces. This strategic association is poised to professionalize the Dominican Republic’s labor market, enhance its competitiveness, and position the nation as a sophisticated and attractive player in the regional market.
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Stuck in neutral: Car rentals push for tourism status
Car rental operators in Barbados have raised concerns over a new daily levy, warning that it could exacerbate existing inequities in the industry. The levy, initially set at $10 per day, was postponed to October 15 and reduced to $5 for the first seven days. While some industry players view the cap as a positive adjustment, others argue that it highlights a more profound issue: the classification of car rentals under the transport sector rather than tourism. This classification subjects the industry to a 17.5% VAT rate, significantly higher than the 10% rate applied to tourism businesses.
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PM Browne: One or two offshore banks may end up being placed under liquidation
Prime Minister Gaston Browne of Antigua and Barbuda has revealed that one or two offshore banks in the country may face liquidation due to persistent difficulties in maintaining correspondent banking relationships. Speaking on the Browne and Browne Show on Pointe FM, Browne highlighted that these institutions have struggled to secure or retain international correspondent partners, which are essential for processing cross-border transactions. This challenge has been exacerbated by increasingly stringent global banking regulations. Browne emphasized that the issue is not isolated to Antigua and Barbuda but is part of a broader trend affecting small financial centers worldwide, a phenomenon often referred to as ‘de-risking.’ The government is closely monitoring the situation and collaborating with the Financial Services Regulatory Commission (FSRC) to safeguard depositors and ensure compliance with international standards. Despite these challenges, Browne reassured that the domestic banking system remains stable, with local banks maintaining robust correspondent relationships and strong liquidity positions. The prime minister reiterated the country’s commitment to upholding the integrity of its financial sector while navigating these global pressures.
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SunEye Security Services Denies Claim of Unpaid Wages
SunEye Security Services has firmly refuted claims that it failed to pay its employees’ salaries and statutory deductions. The company’s legal representative has dismissed the allegations as unfounded, asserting that all employees have signed payment sheets confirming receipt of their wages. To substantiate their stance, SunEye Security Services has provided copies of these signed records to Antigua Newsroom, reinforcing their position that the accusations are entirely false. The company remains committed to transparency and compliance with labor regulations, emphasizing its dedication to fair treatment of its workforce. This development comes amidst heightened scrutiny of corporate practices in the region, underscoring the importance of accurate reporting and accountability in the business sector.
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ABIA Launches BRIDGE Facility to Fund Green and Digital Projects for Caribbean MSMEs
The Antigua and Barbuda Investment Authority (ABIA) has unveiled the BRIDGE Facility, a groundbreaking funding initiative designed to empower micro, small, and medium-sized enterprises (MSMEs) across the Caribbean. This program, spearheaded by the Caribbean Export Development Agency and backed by the European Union under the Global Gateway initiative, seeks to drive the region’s transition toward sustainable and digitally advanced business models. The BRIDGE Facility offers substantial financial support for projects focused on green transition and digital transformation. MSMEs can secure up to EUR 100,000 for initiatives in renewable energy, sustainable agriculture, circular economy, blue economy, and green technologies. Additionally, up to EUR 50,000 is available for projects in e-commerce, automation, cybersecurity, digital products, and supply chain digitization. A key requirement for applicants is to contribute at least 40% of the project cost, ensuring commitment and long-term sustainability. Interested businesses are encouraged to review the full guidelines, complete the application form, and utilize the provided budget templates available on the Caribbean Export Development Agency’s website. The deadline for submissions is November 9, 2025, at 11:59 PM AST. For further inquiries, contact [email protected]. This initiative marks a significant step in fostering economic resilience and innovation in the Caribbean, aligning with global efforts to combat climate change and embrace digital advancements.
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You NEED It, We BUILD It
In the bustling world of home improvement and custom furniture, Mr. Kevon Dennis stands out as a trusted craftsman dedicated to transforming living spaces. Specializing in a wide array of custom-built furniture, including kitchen cupboards, pantries, clothes closets, vanities, chest of drawers, and bed frames, Mr. Dennis ensures every piece is tailored to meet the unique needs of his clients. With a commitment to quality and customer satisfaction, his workmanship promises a ‘Job Well Done every time.’ Clients can reach out to Mr. Dennis via phone at 1 869-764-4795 or through email at Kevvon7@icloud.com. His mission is simple yet profound: to deliver exceptional craftsmanship that exceeds expectations and enhances the functionality and beauty of every home.
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Inposdom handles over 500,000 international shipments in first half of 2025
Santo Domingo – The Dominican Postal Institute (Inposdom) has reported significant milestones in the first half of 2025, processing over 500,000 international shipments, moving 2.75 million items, and handling more than 246 metric tons of goods. These achievements underscore Inposdom’s expanding role in the Dominican Republic’s e-commerce and export logistics sectors. The United States, Europe, and the Virgin Islands emerged as the primary destinations, with the U.S. accounting for the majority of shipments. Key exports included vehicle parts, artisanal products such as tobacco and beauty items, and electronic equipment, including cell phone components. Shipments to the U.S. alone surpassed 200,000 kilograms, reflecting a consistent upward trend in Dominican exports. Erick Guzmán, Director of Inposdom, revealed that the postal service now supports over 18,000 active users, with more than 45,000 citizens utilizing its services nationwide this year. Guzmán attributed this growth to the sector’s recovery and enhanced operational efficiency. To optimize underutilized postal facilities, Inposdom is partnering with public institutions to transform these spaces into multi-service centers. A notable collaboration with the Government Office of Information and Communication Technologies (OGTIC) has led to the establishment of GOB Points within postal offices, enabling citizens to access essential public services such as passport renewals and certificate issuance without additional rental costs.