Carib Scope

分类： business

  • GB businesses claim decline since Celebration Key opened

    GB businesses claim decline since Celebration Key opened

    The unveiling of Carnival’s $600 million Celebration Key cruise port in East Grand Bahama has triggered a dramatic downturn for local businesses and tour operators, with some reporting visitor declines of up to 90 percent. This sharp reduction in foot traffic and bookings has left many enterprises grappling to remain viable, prompting urgent discussions with tourism stakeholders and government officials, including Deputy Prime Minister and Minister of Tourism, Investment, and Aviation Chester Cooper.

    David Wallace, owner of Pirate’s Cove Zipline and Water Park, acknowledged the long-term potential of Celebration Key for Grand Bahama but emphasized the unforeseen economic strain on independent operators. He revealed that visitor numbers at his attraction have plummeted in the past two months. Previously, Carnival’s ships docking at Freeport Harbour brought hundreds of tourists daily, but now, only a fraction of that number arrives from Celebration Key. Wallace stressed that while the current influx is better than nothing, it is insufficient to sustain operations.

    Before Celebration Key’s opening, Carnival’s ships visited Freeport Harbour approximately 15 times monthly, delivering around 350,000 passengers annually. The new port, however, will host Carnival ships 40 times weekly, with over 2,000 annual calls and an estimated 2.5 million passengers. Many local businesses expanded in anticipation of this growth but have instead faced significant declines.

    In response, a coalition of business owners, tour operators, transportation providers, and straw vendors convened to strategize on attracting more visitors and addressing the challenges posed by Celebration Key. Wallace highlighted the group’s investments and their desire to coexist with the new port. Meetings were held with Grand Bahama Port Authority president Ian Rolle, Grand Bahama Chamber of Commerce president Dillon Knowles, and government officials, including Deputy Prime Minister Chester Cooper and Minister Ginger Moxey.

    Among the proposals raised was the suggestion for Carnival to continue docking some ships at Freeport Harbour to boost local business activity. Additionally, efforts are underway to collaborate with the government, Promotion Board, and cruise line to promote attractions like Port Lucaya Marketplace, the Straw Market, and Garden of the Groves.

    Knowles noted that while Carnival is bringing millions of passengers to Grand Bahama, most are choosing to remain within Celebration Key, leaving external businesses with drastically reduced foot traffic. He emphasized the need for immediate action to encourage passengers to explore the wider island. Recommendations included improving marketing efforts, making transportation from Celebration Key more accessible, and ensuring tour operators have better access to the port.

    Despite the challenges, Knowles expressed optimism that the situation would improve as the novelty of Celebration Key wanes. However, he stressed the urgency of addressing the current struggles faced by local businesses, stating that even a small portion of Carnival’s passengers could significantly benefit the island’s economy.

  • Jamaican airports generate over $9 billion in revenue

    Jamaican airports generate over $9 billion in revenue

    Jamaica’s two major international airports, operated by Grupo Aeroportuario del Pacífico (GAP), reported an estimated $60.64 million in revenue during the third quarter of 2025. This financial performance was driven by the processing of 1.77 million passengers across both facilities. Sangster International Airport (SIA), managed by MBJ Airports Limited, saw a 9% revenue increase to $41.46 million, largely attributed to higher aeronautical service fees, including passenger, landing, and bridge fees, which rose 9% to $26.25 million. Passenger traffic at SIA grew by 7.7% to 1.24 million, recovering from the impact of Hurricane Beryl in the previous period, though it remained below the 1.31 million passengers recorded in Q3 2024. Operating expenses for both airports surged by 22% ($10.24 million) due to increased concession fees, improvement costs, and depreciation charges. Despite this, SIA’s operating profit improved by 1.7% to $13.17 million, with EBITDA rising 2.5% to $17.64 million. GAP’s quarterly report highlighted a 200-basis-point decline in the operating income margin for Jamaican airports to 43.3%, or 52.5% excluding concession asset improvement costs. Operating profit increased by $23.04 million (11.5%) compared to Q3 2024, while net profit rose by $38.25 million (36%). However, comprehensive income fell by $8.73 million (6.2%) due to foreign currency translation losses. Over the first nine months of 2025, Jamaican airports generated $178.14 million in revenue, with MBJ Airports reporting a 14.6% increase to $126.25 million. Operating profit surged by $118.52 billion (19.7%) despite a 17.9% rise in expenses. GAP plans $203.30 million in investments to enhance both airports between 2026 and 2030, supported by newly approved aeronautical rate increases. SIA’s rates will rise from $17.38 in 2026 to $19.07 in 2030, while Kingston’s rates will increase from $38.18 to $60.10. GAP remains optimistic about Jamaica’s long-term tourism growth, citing planned hotel expansions and increased tourist arrivals.

  • Lower gas prices for October 2025

    Lower gas prices for October 2025

    The Ministry of Finance in Grenada has announced updated retail prices for petroleum products, effective from Saturday, 18 October 2025. The revised prices apply to Gasoline, Diesel, Kerosene, and Liquefied Petroleum Gas (LPG), commonly known as Cooking Gas, across Grenada, Carriacou, and Petite Martinique. Notably, Gasoline prices have decreased by $0.26 to $14.56 per imperial gallon (IG), while Diesel has seen a significant reduction of $0.94 to $13.52 per IG. Kerosene prices have slightly decreased by $0.12 to $10.31 per IG. For LPG, the 20 lb cylinder prices remain unchanged at $40.00 in Grenada and $49.00 in Carriacou and Petite Martinique. However, the 100 lb cylinder and bulk prices have increased by $3.80 and $0.05 per pound, respectively. The Ministry emphasized that these adjustments are based on the average cost, freight, and insurance rates for Gasoline, Diesel, and Kerosene, while LPG prices are derived from mean Caribbean postings (Platts) for the period 16 September to 14 October 2025. The Ministry also reiterated that petroleum products are price-controlled, and retailers must adhere to the stated prices. Consumers are urged to report any instances of overpricing to the Price Control/Consumer Affairs Unit. The Ministry continues to monitor prices and will intervene if they exceed $17 per IG.

  • Facilities Consulting Limited: Multiple vacancies

    Facilities Consulting Limited: Multiple vacancies

    Facilities Consulting Limited (FCL), a prominent provider of facilities management, maintenance, and construction services in Grenada, is actively recruiting for three key positions: Carpenter, Data Entry Clerk, and Plumber. The company, renowned for its commitment to quality and reliability, is seeking dedicated professionals to join its team in St. George’s.

    **Carpenter Position**
    FCL is looking for an experienced Carpenter to contribute to its maintenance and construction projects. The role involves constructing, installing, and repairing wooden structures, cabinets, and fixtures, as well as interpreting blueprints and ensuring high safety and quality standards. Candidates must have completed a recognized apprenticeship or possess at least four years of carpentry experience. Proficiency in both rough and finished carpentry, along with strong technical knowledge, is essential. The application deadline is October 30, 2025.

    **Data Entry Clerk Position**
    The company is also hiring a detail-oriented Data Entry Clerk to manage and maintain accurate company records. Responsibilities include entering and updating data, verifying information, and generating reports. Applicants should have a minimum of five CXC subjects, including Mathematics and English, and proficiency in Microsoft Office. Strong organisational skills and the ability to work independently are crucial. The deadline for applications is October 30, 2025.

    **Plumber Position**
    FCL is seeking a skilled Plumber to install, repair, and maintain plumbing systems. The ideal candidate will have experience with PEX and copper piping, a certification in plumbing, and a strong understanding of water supply and drainage systems. The role requires excellent problem-solving skills and the ability to work collaboratively with other team members. Applications must be submitted by October 30, 2025.

    Interested candidates for all positions are invited to submit their résumé and a cover letter to [email protected], specifying the role in the subject line. Only shortlisted applicants will be contacted.

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  • FRS Express Des Iles updated ferry schedule

    FRS Express Des Iles updated ferry schedule

    H.H. V Whitchurch & Co., the operator of the FRS Express Des Iles ferry service, has released an updated schedule following a series of cancellations over the weekend. The announcement, shared on the company’s official Facebook page, assures passengers of a seamless travel experience during the upcoming World Creole Music Festival season. The company extended its appreciation to customers for their understanding and patience during the service disruptions. The revised timetable, which outlines ferry operations through the end of October, aims to restore reliability and meet the heightened demand expected during the festival period. This update comes as the company works to address operational challenges and ensure customer satisfaction.

  • Trump shift could limit access to IMF, World Bank funds, expert warns

    Trump shift could limit access to IMF, World Bank funds, expert warns

    Caribbean nations may soon encounter heightened challenges in accessing financial assistance from the International Monetary Fund (IMF) and the World Bank, as the Trump administration pushes for a shift away from funding climate resilience and social development initiatives. This warning was issued by Professor Don Marshall, Director of the Sir Arthur Lewis Institute of Social and Economic Studies (SALISES) at the University of the West Indies, Cave Hill, during his analysis of recent reforms proposed by US Treasury Secretary Scott Bessent.

  • Briceño’s Fortis Strategy Sparks Heated Debate in Senate

    Briceño’s Fortis Strategy Sparks Heated Debate in Senate

    The Briceño administration’s $256 million acquisition of Fortis Belize Limited and its BEL shares has reignited a fiery debate in the Senate, with Opposition Senator Patrick Faber leading the charge against the government’s plan to divest the newly acquired assets. Faber criticized the move as reckless, questioning the expertise of the local investors Prime Minister Briceño named last Friday to manage a hydroelectric company. ‘Even if we accept the acquisition, we must reject the reckless plan to divest the very assets we have just bought,’ Faber stated. He argued that institutions like Social Security, Credit Unions, and commercial banks lack the necessary experience to run such a complex operation. Government Senator Hector Guerra countered, emphasizing the potential benefits for Belizean investors. ‘It will open doors for Belizean people, ensuring they can invest in a critical asset and expect returns,’ Guerra asserted. He highlighted the excess liquidity in the banking sector as an opportunity for broader public investment. The debate underscores the deep divisions over the government’s strategy to manage Belize’s energy assets.

  • Senators Demand Answers on Fortis Pullout

    Senators Demand Answers on Fortis Pullout

    In a heated Senate debate on October 20, 2025, Belizean senators demanded clarity on Fortis Inc.’s decision to withdraw from the country’s energy sector and the potential ramifications for electricity costs and national energy independence. Union Senator Glenfield Dennison questioned the rationale behind Fortis, a seasoned power generation company, exiting the market while Belize, with limited expertise in the field, takes over. Dennison emphasized the critical role of water resources in hydroelectric power, urging a closer examination of the nation’s hydrological prospects. Church Senator Louis Wade echoed public concerns, highlighting Belize’s exorbitant electricity rates and stressing the need for affordable energy solutions. He acknowledged the symbolic significance of reclaiming control over Belize’s rivers but underscored the importance of tangible benefits for citizens. NGO Senator Janelle Chanona called for greater public awareness and a thorough cost-benefit analysis to assess the long-term impact of the acquisition. She noted that while electricity rates are perceived as high, a detailed tariff review is essential to determine future pricing. The senators’ inquiries reflect widespread unease about the transition and its potential to either alleviate or exacerbate Belize’s energy challenges.

  • VIDEO: PM Plans Minor Cabinet Reshuffle Later This Year

    VIDEO: PM Plans Minor Cabinet Reshuffle Later This Year

    Prime Minister has announced plans for a minor cabinet reshuffle later this year. The reshuffle is expected to bring changes to key ministerial positions, though the specifics of the changes have not yet been disclosed. The announcement comes as part of the government’s ongoing efforts to optimize its administrative structure and address emerging challenges.

  • Caribbean Development Bank fosters new agreement with OPEC Fund to cement sustainable goals in region

    Caribbean Development Bank fosters new agreement with OPEC Fund to cement sustainable goals in region

    The Caribbean Development Bank (CDB) has solidified a landmark partnership with the OPEC Fund for International Development by signing a Memorandum of Understanding (MOU). This collaboration is designed to enhance financial opportunities and accelerate sustainable development across the Caribbean region. The agreement facilitates joint financing and co-financing initiatives in critical areas such as climate resilience, renewable energy, infrastructure, food security, trade financing, and youth development. It also underscores the importance of knowledge sharing, technical assistance, and capacity-building to empower Borrowing Member Countries (BMCs) with innovative solutions and expanded resources.

    The MOU was formalized during a signing ceremony last week, coinciding with the International Monetary Fund-World Bank Annual Meetings in Washington D.C. CDB President Mr. Daniel Best emphasized the transformative potential of such strategic alliances. ‘Multilateral development banks must unite their expertise, resources, and priorities to address global challenges effectively and advance the Sustainable Development Goals. This partnership exemplifies the power of collaboration in creating lasting, positive change for the Caribbean,’ he stated.

    The agreement outlines a framework for joint project development, technical assistance programs, and regional dialogues to promote inclusive and environmentally sustainable growth. Key focus areas include climate-smart agriculture, water security, digital connectivity, and private sector development, all aligned with CDB’s mission to enhance resilience and reduce poverty.

    Mr. Best highlighted the partnership’s potential to unlock unprecedented opportunities for BMCs. ‘By combining the OPEC Fund’s global influence with CDB’s regional expertise, we can accelerate investments in infrastructure, climate adaptation, and human development. This will pave the way for a sustainable, inclusive, and prosperous future for the Caribbean,’ he added.

    Additionally, the alliance is expected to bolster youth empowerment, vocational training, and innovative financial mechanisms such as debt-for-sustainability swaps and blue economy initiatives. These efforts will further cement the Caribbean’s leadership in climate resilience and sustainable development.