The Jamaican Government has pledged a $150 million loan to the Jamaica Public Service Company (JPS) to aid in the reconstruction of its power grid, severely damaged by Hurricane Melissa. However, the Andrew Holness Administration has declined JPS’s request to extend its current licence, set to expire in 2027, which the company sought to secure additional funding for the restoration efforts. Energy Minister Daryl Vaz announced the decision during a House of Representatives session, emphasizing the need to address two critical issues separately: the immediate funding for grid restoration and the ongoing negotiations for a new electricity licence. The Government has approved a conditional bridging loan to JPS, ensuring the company can proceed with restoration without extending its licence. This move will enable 300 overseas line workers and specialized equipment to arrive in Jamaica by December, aiming for full customer restoration by early 2026. Vaz highlighted that the Government has safeguarded its interests, with provisions ensuring repayment of the loan if a new licence is not agreed upon. The Government has also finalized a consultancy contract to support negotiations with JPS, ensuring a structured and protected approach to the process.
分类： business
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US retail sales cool as consumers battle higher prices
The latest economic data from the United States reveals a slowdown in retail sales growth for September, as consumers grapple with rising prices and businesses face escalating costs. According to the Commerce Department, retail sales increased by a modest 0.2 percent month-on-month, falling short of analyst expectations and marking a deceleration from August’s 0.6 percent gain. Concurrently, the Labor Department reported a 0.3 percent rise in producer prices for September, driven primarily by a 0.9 percent surge in goods costs, particularly energy and food. These trends highlight the growing economic pressures stemming from President Donald Trump’s tariffs, which have begun to ripple through the economy. Some businesses have already reported higher operational costs due to these duties, prompting the administration to expand tariff exemptions for certain agricultural products. The release of these reports was delayed due to the record-long government shutdown between October and mid-November, which disrupted the collection and publication of key economic data. Year-on-year, retail sales in September were up 4.3 percent, though specific sectors such as motor vehicles, clothing, and electronics experienced declines. The data underscores the challenges facing both consumers and businesses as they navigate an increasingly complex economic landscape.
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Economy to contract 11-13 per cent Oct-Dec — PIOJ
KINGSTON, Jamaica — The aftermath of Hurricane Melissa, which struck the island on October 28, has left Jamaica grappling with unprecedented economic challenges. Preliminary estimates from the Planning Institute of Jamaica (PIOJ) indicate a potential 13 per cent decline in the country’s gross domestic product (GDP) for the final quarter of this year. This marks one of the most severe economic contractions since the COVID-19 pandemic in 2020.
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Staatsolie opent offshore-deur voor wereldwijde investeerders
Suriname has officially unveiled its Open-Door Offering, a groundbreaking initiative designed to provide international oil and gas companies with flexible access to a significant portion of its offshore territory. Launched by Staatsolie on Monday, this strategic move aims to bolster Suriname’s standing in the Guiana Basin and attract investors to explore both shallow and deep-water blocks. Approximately 60% of the nation’s offshore area is now available for exploration, offering companies the opportunity to select their preferred blocks and submit tailored work programs. The initiative features attractive fiscal terms, low surface risks, and a stable, investment-friendly environment to enhance global interest. Companies can opt for Production Sharing Contracts or Joint Study Agreements for collaborative analysis. Selected areas will be publicly listed on the Open-Door Offering webpage, allowing competitors to submit rival proposals within a 90-day window. Concurrently, Staatsolie introduced the GeoPortal, an interactive platform providing comprehensive geological and geophysical data, available for lease at favorable rates. Additionally, the company released the GeoAtlas of Suriname, a detailed resource based on decades of data collection and analysis, offering a complete overview of the Guiana Basin’s geology and potential. The GeoAtlas is freely downloadable from Staatsolie’s website, further supporting exploration efforts.
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‘Passport can’t eat’
The Citizenship by Investment (CBI) programme, a transformative model of foreign direct investment, has become a cornerstone of economic growth across most Organisation of Eastern Caribbean States (OECS) nations. However, in St. Vincent and the Grenadines (SVG), this proven initiative is often overshadowed by political rhetoric, leaving citizens misinformed about its potential benefits. While neighbouring countries like St. Kitts and Nevis, Antigua and Barbuda, Grenada, Dominica, and St. Lucia have harnessed CBI to fuel their economies, SVG lags behind, missing out on decades of prosperity. CBI, also known as economic citizenship, allows individuals to obtain citizenship by investing significantly in the host country. Despite having a passport ranked similarly to its neighbours in global visa-free access, SVG continues to dismiss the programme entirely. The Eastern Caribbean Central Bank, through Governor Timothy Antoine’s proposed regulatory framework, has emphasized the importance of CBI to the region’s economic stability and advancement. Neighbouring islands have reaped tangible benefits from CBI, including modern infrastructure, luxury developments, and higher GDP per capita. For instance, St. Kitts and Nevis boasts well-maintained highways, double salary bonuses for public servants, and upscale hotels, all funded by CBI revenues. Similarly, Dominica is constructing a new international airport with CBI funding. These outcomes highlight the programme’s potential to uplift entire nations. As SVG reflects on its leadership and policy direction, it is crucial to move beyond outdated rhetoric and embrace innovative economic strategies. The nation deserves policies that elevate all citizens, ensuring a rising tide lifts every ship.
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Setting the Standard: Why Antigua’s Aviation Future Demands Regulatory Precision
As Antigua’s aviation industry prepares for the 2026 International Civil Aviation Organization (ICAO) audit, a pressing need for regulatory precision has emerged. With over a decade of experience as a Corporate Aviation Service Provider, our company has witnessed the sector’s evolution firsthand. From establishing FBO 2000, which set a benchmark for excellence in Antigua, St. Kitts, and Nevis, to its acquisition by global leader Signature Flight Support, the journey has been transformative. Today, equipped with the region’s largest corporate aviation hangar and the logistical capacity to cater to ultra-wealthy clients, we are poised to elevate the industry once more. However, world-class infrastructure alone is insufficient without robust regulation. A critical issue lies in the unique land ownership structure surrounding Runway 10, where 90% of the land is privately owned. This anomaly, coupled with the absence of a “Registration of a Difference” filed with ICAO, creates a regulatory grey area that jeopardizes aviation insurance and operational compliance. As Antigua operates on a decommissioned US Air Base while being a full ICAO member, the implications of private land ownership within an airport have yet to be fully addressed. The 2026 ICAO audit demands clarity and the establishment of proper regulatory procedures to ensure safety, security, and international trust. Antigua’s aviation sector must now harmonize its assets and history with the regulatory discipline required to meet global standards.
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Antigua and Barbuda Eyes Sports and Conference Tourism to Diversify Sector
Antigua and Barbuda is poised for significant advancements in its tourism industry, as government officials unveil plans to diversify the sector by emphasizing sports and conference tourism. Prime Minister Gaston Browne, addressing the nation over the weekend, highlighted tourism as the cornerstone of the country’s economy. However, he stressed the importance of developing high-value niches to ensure year-round activity and reduce dependency on conventional leisure travel. This strategic shift aims to attract a broader range of visitors, including sports enthusiasts and business professionals, thereby enhancing economic resilience. The move reflects a long-term vision to position the twin-island nation as a versatile and competitive destination in the global tourism market. By leveraging its natural beauty and infrastructure, Antigua and Barbuda seeks to capitalize on emerging trends and secure sustainable growth for its tourism sector.
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Sunrise Airways suspends all flights to Port-au-Prince
Sunrise Airways has announced the immediate suspension of all flights to and from Port-au-Prince, Haiti, due to escalating security concerns. The airline emphasized that this decision was made to ensure the safety of passengers, crew members, and operational staff. Flights will only resume once the security situation stabilizes and is deemed safe for operations. The company is actively monitoring the developments in collaboration with relevant authorities, reiterating that safety remains its utmost priority. Affected passengers will be contacted directly to discuss rebooking options, travel credits, or refunds in accordance with the airline’s policies. Sunrise Airways expressed gratitude for travelers’ patience and encouraged them to contact customer service for further assistance.
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GDF acquires new helicopters
The Guyana Defence Force (GDF) has significantly bolstered its aviation capabilities with the acquisition of two state-of-the-art Bell helicopters, the Bell 429 Global Ranger and the Bell 407. Announced by Chief-of-Defence Staff Brigadier Omar Khan on Sunday, November 23, 2025, these helicopters are set to arrive in Guyana by mid-next week. Manufactured in 2025 by Bell Textron Inc., these aircraft represent a substantial investment, with the Bell 429 costing up to US$10.2 million and the Bell 407 priced at a maximum of US$3.2 million, according to online publications. The helicopters, currently bearing US registration markings, will soon be re-registered under the Guyana Civil Aviation Authority (GCAA). The Bell 429, a nine-seater with dual engines, is versatile, serving executive transport, air ambulance, and rapid public safety response roles. Similarly, the Bell 407 is equipped for public safety missions, including fire safety, crew transport, and emergency services. This acquisition follows a tragic incident in December 2023, when a Bell 412Epi helicopter crashed during a military mission, resulting in the loss of five lives, including veteran pilot Michael Charles. The government has yet to release the crash report, underscoring the importance of this new investment in enhancing the GDF’s operational safety and efficiency.
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A showcase of opportunities offered by the Cuban economy
The 41st Havana International Fair (Fihav 2025), the premier trade event in the region, commenced today with a focus on advancing strategic sectors of Cuba’s economy and positioning the nation as a dependable hub for international business. This year’s edition transcends conventional trade discussions by emphasizing high-potential areas such as renewable energy, artificial intelligence (AI), and integration into global blocs like BRICS. Deputy Prime Minister and Minister of Foreign Trade and Investment, Oscar Pérez-Oliva Fraga, highlighted the fair’s broader mission at a recent press conference, stating, ‘Fihav 2025 is not just a platform for trade; it’s a showcase of Cuba’s economic opportunities, rooted in innovation, sustainability, and global collaboration.’ The event features five thematic exhibition zones, including the ‘Made in Cuba’ pavilion, which spotlights the export potential of local products, particularly from micro, small, and medium enterprises (MSMEs) and production hubs. Another key area, ‘Renewable Energy in Cuba,’ promotes the island’s energy transition through panels on sustainable investments. Additionally, the ‘Digital Transformation and AI’ section explores the application of cutting-edge technologies in management and production. A dedicated segment on ‘BRICS and Integration Mechanisms’ highlights cooperative projects within frameworks such as ALBA-TCP, the EAEU, and ALADI. The ‘Unique Cuba’ sector underscores tourism’s role in driving economic growth through service exports and productive chains. Despite challenges posed by the U.S. blockade and the aftermath of Hurricane Melissa, Fihav 2025 has drawn participation from 47 countries and the European Union, including strategic partners like Russia, China, Spain, Italy, Mexico, Venezuela, and Saudi Arabia. Key sectors represented include agribusiness, biotechnology, medical services, tourism, energy, and logistics. The fair also hosts the 8th Investment Forum, featuring updates on Cuba’s Portfolio of Opportunities, and the Caribbean Banking Forum.