The Dominican Republic’s Airport Department has garnered significant recognition for its active participation in the Airports Council International for Latin America and the Caribbean (ACI-LAC) annual study tour. The event, hosted at Singapore’s Changi Airport and Kuala Lumpur International Airport in Malaysia, provided a platform for global airport leaders to exchange strategic insights and foster collaboration. Rafael Echevarne, ACI-LAC director, underscored the tour’s importance, noting that it offers invaluable exposure to global trends, cutting-edge technologies, and operational best practices that can be adapted to the Latin American and Caribbean region. Víctor Pichardo, director of the Dominican Republic’s Airport Department, highlighted that the knowledge acquired is already being implemented to drive innovation and enhance efficiency across the country’s international and domestic terminals. This fourth edition of the study tour brought together airport representatives from various Latin American and Caribbean nations, enabling them to observe the advanced infrastructure, operational models, and management strategies of two of the world’s leading airports. The event not only strengthened regional cooperation but also contributed to ongoing modernization efforts in the aviation sector.
分类： business
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Suriname, Guyana in energy cooperation says outgoing Ambassador
Suriname and Guyana are deepening their collaboration across multiple sectors, particularly in energy, as highlighted by Suriname’s outgoing Ambassador to Guyana, Liselle Blankendal. Speaking at a reception marking Suriname’s 50th independence anniversary and 50 years of diplomatic relations with Guyana, Ambassador Blankendal emphasized the progress in joint efforts spanning oil and gas, renewable energy, and electricity interconnection. These initiatives aim to foster sustainable growth and resilience in both nations. The two countries are also exploring shared benefits from a natural gas field straddling their border, though differing production-sharing agreements remain a challenge. Looking ahead, Blankendal underscored the potential for leveraging natural and renewable resources to drive green innovation and inclusive prosperity. Beyond energy, bilateral trade has seen significant growth, and tourism cooperation has advanced with a memorandum of understanding signed in July 2025. This agreement paves the way for joint promotion, sustainable travel, and cultural exchanges, positioning Guyana and Suriname as a unique and unspoiled tourism destination. Guyana’s Prime Minister, Mark Phillips, praised the partnership as a model for regional integration, highlighting achievements in energy, infrastructure, trade, and security. As Blankendal concluded her diplomatic tenure, she expressed deep affection for Guyana, vowing to return and continue fostering ties. Her legacy includes co-founding the Suriname-Guyana Chamber of Commerce and her long-standing commitment to Rotary initiatives.
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Bigger grants, bigger impact? UWP proposes $25 000 youth business grants
In Saint Lucia, a young entrepreneur’s journey from braiding hair at 15 to owning her own salon exemplifies the transformative power of small-scale grants. With a $5,000 grant from the Youth Economy Agency (YEA), she invested in essential equipment like a hydraulic chair and salon sink, expanding her services and renting out stations for additional income. Her story highlights the YEA’s mission to empower young entrepreneurs through financial support, training, and mentorship. Since its inception, the YEA has disbursed over 1,505 grants, trained 880 individuals, and injected an estimated $9.6 million into the economy. However, with a general election approaching, the United Workers Party (UWP) has pledged to increase start-up grants to $25,000, sparking a debate on the viability and impact of larger funding. UWP leader Allen Chastanet argues that smaller grants, like the YEA’s $3,000 to $5,000 offerings, are insufficient for meaningful business growth. He cites the party’s proposed “Youth SOS Plan” as a more impactful solution for youth-led ventures in agriculture, digital economy, hospitality, and creative sectors. Youth advocates, however, emphasize that the effectiveness of grants depends on alignment with the needs of the target demographic. Franz George, a youth development advocate and business consultant, notes that smaller grants can suffice for micro-enterprises with limited scaling ambitions, while larger grants may be necessary for ventures requiring significant capital. He stresses the importance of monitoring and evaluation to assess the long-term sustainability of grant programmes. As the YEA continues to support young entrepreneurs with its holistic approach, the upcoming election raises questions about the future of youth economic empowerment in Saint Lucia. Will larger grants drive greater impact, or is the key to success a tailored, needs-based approach? The answer may shape the island’s entrepreneurial landscape for years to come.
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Jobless numbers fall: Rate down to 9.3% as nearly 4,000 find work
The Bahamas has witnessed a notable decline in its unemployment rate, which fell to 9.3 percent in the second quarter of 2025, as revealed by preliminary data from the Bahamas National Statistical Institute (BNSI). This marks a significant improvement from the first quarter’s 10.8 percent, driven by a surge in employment figures between April and June. Total employment rose to 218,620, an increase of 3,895 jobs, while the number of unemployed individuals dropped to 22,470, reflecting a reduction of 3,455. Both genders benefited from this positive trend, with male unemployment decreasing from 12,630 to 10,690 and female unemployment declining from 13,295 to 11,780. Youth unemployment also saw a slight improvement, falling to 20.3 percent, a 0.6 percentage point decrease from the previous quarter. The labour force expanded modestly to 241,090, with the participation rate climbing to 76.7 percent. Male participation rose to 80.7 percent, while female participation reached 72.4 percent. Key sectors such as construction, wholesale and retail, and community services experienced significant employment gains, with construction leading the way at a 17 percent increase. The number of discouraged workers, those who have stopped seeking employment due to perceived lack of opportunities, plummeted by 64 percent to 2,270. Educational qualifications among the workforce varied, with 27 percent reporting no formal examinations as their highest qualification, while 26 percent held a Bahamas General Certificate of Secondary Education.
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CPSO welcomes removal of US tariffs on key Caricom exports
The Caricom Private Sector Organisation (CPSO) has expressed its approval of the United States’ decision to eliminate tariffs on crucial export sectors within the Caribbean region. This move is expected to provide significant relief to industries that were adversely impacted by the reciprocal tariffs introduced in April 2025 and revised in August 2025. The CPSO had previously estimated that these tariffs would result in an annual loss of US$653.6 million in export revenue for Caricom member states, with the most severe impacts felt in the base metals, agriculture & food, and chemicals sectors.
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Agostini CFO to step down at year’s end
Agostini Group’s Chief Financial Officer (CFO), Nigel Campbell, is poised to resign from his position by the end of this year, as disclosed in a recent notice to the Trinidad and Tobago Stock Exchange. Company Secretary Nadia James-Reyes Tineo confirmed Campbell’s departure, effective December 31, in a statement issued on November 24. While the notice did not specify a successor, it expressed gratitude for Campbell’s significant contributions to the group during his tenure as head of the finance function and as a key member of the executive team. Campbell, who assumed the CFO role on February 1, 2024, succeeding Barry Davis after his promotion to CEO, brought over three decades of financial expertise from his previous role at an energy company. His resignation coincides with Agostini’s ongoing efforts to merge with Prestige Holdings. The company recently announced its fifth extension of the share-swap offer deadline to January 20, pending regulatory approvals, including a merger application currently under review by the TT Fair Trade Commission. Under the proposed terms, shareholders are offered one Agostini share for every 4.8 Prestige shares. Agostini has committed to acquiring and paying for all shares deposited and not withdrawn within the legally mandated timeframe. The offer, initially set to close on July 20, has seen multiple extensions, reflecting the complexities of the merger process. Despite achieving the minimum target shareholding required for the merger in September, Agostini has continued to extend the deadline to navigate regulatory hurdles and ensure a smooth transition.
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More RoRo, more problems
The government’s recent decision to extend the import age limit for used vehicles from three to eight years has sparked significant debate. While the move is framed as a benefit to average citizens by potentially lowering vehicle ownership costs, it carries notable social and economic implications. Visham Babwah, president of the TT Automotive Dealers Association (TTADA), has voiced concerns, citing risks associated with importing older vehicles. These vehicles, often past half their expected lifespan, may face challenges in securing loans or comprehensive insurance. Additionally, the influx of older, cheaper cars could exacerbate traffic congestion, with over 1.1 million registered vehicles already on the roads as of September 2024. The lack of clarity on how the policy affects electric vehicles further complicates the issue. Critics argue that without stringent inspection and verification processes, the policy risks flooding the streets with potentially unsafe vehicles. The used car market, which accounts for roughly a third of total car sales, remains a competitive sector, but the extended warranty period of only three months or 3,000 kilometers offers limited protection to buyers. The government must balance this policy with robust oversight to ensure road safety and consumer protection.
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UTC celebrates Calypso fund maturity
The Unit Trust Corporation (UTC) is celebrating the impending maturity of its Calypso Macro Index Fund (CMIF), set for November 30, marking a significant achievement for the organization. Executive Director Nigel Edwards, in a statement on November 24, described the event as ‘a landmark moment for the UTC,’ highlighting the fund’s success in delivering robust returns to its 2,025 unitholders since its inception in 2016.
The Calypso Fund was designed to offer local investors access to a diversified portfolio of local equities and international energy stocks, capitalizing on key economic drivers. Its performance has been stellar, growing from an initial value of $500 million to $569.42 million by 2024, representing a 13.9% increase. Over the past decade, the fund has distributed approximately $128 million in dividends, with per-unit payouts rising by 5%, from 80 cents in 2023 to 84 cents in 2024.
Edwards emphasized that the fund’s success underscores UTC’s commitment to democratizing investment and delivering tangible value to its stakeholders. ‘The Calypso Fund’s performance serves as a testament to both our strategic foresight and the efficacy of our stewardship,’ he said.
The fund’s maturity aligns with UTC’s overall strong financial performance in 2024, which saw total investment income reach $1.045 billion, with distributions to unitholders increasing by over 60%. Looking ahead, UTC has assured its investors of a seamless transition and continued access to innovative, growth-oriented investment solutions.
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Royalton commits to Jamaica as resorts target 2026 reopening
KINGSTON, Jamaica — Royalton Hotels & Resorts has unveiled updated reopening timelines for its Jamaican properties, signaling a phased recovery in the aftermath of Hurricane Melissa. Royalton Negril, Royalton Hideaway Negril, and Grand Lido Negril are now slated to welcome guests on August 25, 2026. The reopening dates for Royalton Blue Waters and Royalton Hideaway Blue Waters remain under review, pending further evaluations.
The company has reaffirmed its dedication to Jamaica, emphasizing its ongoing support for employees and local communities. In the immediate aftermath of the hurricane, Royalton implemented a comprehensive relief program, providing clean water, temporary housing, financial aid, and food supplies to affected staff. These welfare initiatives continue to be a cornerstone of the company’s recovery efforts.
To ensure the resorts’ restoration, a dedicated team of over 200 workers will remain on-site throughout the reconstruction phase. Additionally, other managerial and operational staff have been temporarily reassigned to Royalton properties across the Caribbean, safeguarding employment and facilitating ongoing training.
Daniel Lozano, senior vice president of operations, underscored the company’s commitment: ‘Our dedication to Jamaica remains steadfast. We are fully invested in supporting our teams and communities as we navigate the path to complete recovery.’
The announcement highlights Royalton’s resilience and long-term vision, as it balances operational recovery with sustained support for its workforce and the broader Jamaican community.
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RIU says it will reopen all Jamaica hotels before year-end
In the wake of Hurricane Melissa, which struck Jamaica on October 28, international hotel chain RIU has taken a proactive role in the recovery of the island’s tourism sector. With its hotels already prepared to resume operations, RIU has prioritized both employee welfare and community support as part of its comprehensive recovery strategy.