The Caribbean Development Bank (CDB) has reaffirmed its commitment to enhancing food security and income stability across the region through strategic investments in sustainable irrigation projects. Speaking at the closing ceremony of the Hand-in-Hand Investment Forum during the 2025 World Food Forum, Dr. Isaac Solomon, the Bank’s Vice President of Operations, highlighted the urgent need for climate-resilient water infrastructure to support small-scale farmers and strengthen national food systems. The forum, themed ‘Enhancing Food and Income Security Through Sustainable Irrigation Investments in Caribbean Countries,’ brought together government officials, technical experts, and development partners to discuss innovative water management strategies in agriculture. Dr. Solomon emphasized that reliable irrigation systems can significantly boost agricultural productivity, enabling crop diversification and year-round production. He cited findings from a joint study by the CDB and the Food and Agriculture Organization, which revealed that droughts are becoming more frequent and severe in the Caribbean, threatening rural livelihoods and food security. With less than 4% of the region’s arable land currently irrigated, the CDB is advocating for increased concessional and grant funding to expand infrastructure. Dr. Solomon stressed that irrigation projects must be tailored to local conditions, incorporating advanced technologies, water efficiency, and robust governance practices. The Bank also announced plans to develop a regional knowledge platform to provide farmers with mobile access to location-specific best practices. Additionally, the CDB called for integrated water resources management to ensure sustainability and equitable access. In his closing remarks, Dr. Solomon urged Caribbean nations to adopt comprehensive, climate-smart irrigation strategies to mitigate drought impacts and build resilient agricultural systems. As part of its Rebirth Vision, the CDB continues to promote solutions that combine infrastructure development, policy reform, and technological innovation to achieve sustainable progress in food and water security.
分类： business
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PSV owners seek urgent meeting with Uber amid launch concerns
Public Service Vehicle (PSV) owners in Barbados are calling for immediate discussions with Uber, the global ride-hailing giant, following its recent entry into the local transportation market. The AOPT (Alliance Owners of Public Transport), led by Chairman Roy Raphael, is concerned that Uber’s presence could destabilize traditional taxi businesses, particularly those operating at key hubs like the airport and seaport. Uber officially launched its services in Barbados on Tuesday, positioning itself as a partner rather than a competitor to the taxi industry. Already, 400 licensed taxi operators have joined the Uber Taxi platform, which is exclusively for registered taxis. However, Raphael emphasized the need for clarity on Uber’s mission and its potential impact on local operators. He warned that the recent increase in taxi fares might drive customers toward cheaper alternatives like Uber, further squeezing traditional taxi drivers. Raphael also raised concerns about the misuse of ‘C’ plate commercial vehicles, which are not registered taxis but could potentially join Uber’s platform, exacerbating competition. In response, the AOPT is exploring a partnership with a local ‘book-a-ride’ app to create opportunities for its members and safeguard their livelihoods. The association plans to launch this app soon, encouraging locals to support homegrown taxi services. Raphael assured that the AOPT will closely monitor Uber’s activities and advocate for fair practices in the evolving transportation landscape.
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Cable & Wireless St. Kitts & Nevis Ltd Dividend Payment
Basseterre, 24 October 2025 – Cable & Wireless St. Kitts & Nevis Ltd has announced a dividend payout of EC$0.70 per share, approved by its Board of Directors. This payment covers the fiscal years 2021, 2022, 2023, and 2024 and will be distributed to shareholders recorded as of 19 September 2025. The Eastern Caribbean Securities Exchange (ECSE) will facilitate the disbursement, effective from 24 October 2025. Additionally, the company has indicated that further details regarding the Annual General Meeting (AGM) will be communicated soon. The AGM will focus on reviewing the financial performance of the company over the aforementioned years. This announcement underscores the company’s commitment to delivering value to its shareholders amidst its financial operations.
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Robert De Niro’s Nobu-Branded Private Residences in Barbuda Are Officially on the Market
Renowned Hollywood actor Robert De Niro has officially listed his luxury Nobu-branded private residences in Barbuda for sale. The properties, which are part of the prestigious Nobu brand co-founded by De Niro, offer unparalleled exclusivity and sophistication. Located on the pristine Caribbean island of Barbuda, these residences are designed to blend seamlessly with the island’s natural beauty while providing world-class amenities. The development is a collaboration between De Niro, celebrity chef Nobu Matsuhisa, and entrepreneur Meir Teper, who have successfully expanded the Nobu brand into the hospitality and real estate sectors. The sale of these properties marks a significant moment in the luxury real estate market, attracting attention from high-net-worth individuals seeking unique investment opportunities. The residences are expected to fetch premium prices, given their association with the globally recognized Nobu brand and their idyllic location. This move also highlights the growing trend of celebrity-backed real estate ventures, which continue to shape the high-end property market.
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Eco-Atlantic says Hammerhead may fuel heavy oil build out offshore Guyana
Eco Atlantic Oil & Gas has indicated that the recent sanctioning of the Hammerhead project by ExxonMobil could pave the way for significant heavy oil development offshore Guyana. The US$6.8 billion seventh phase of the Stabroek block has demonstrated the economic viability of heavy oil extraction, according to Eco Atlantic’s President and CEO, Gil Holzman. In an interview, Holzman emphasized that this development has prompted a reevaluation of the Jethro-1 discovery, which holds an estimated 1 billion barrels of oil, located in the neighboring Orinduik block where Eco Atlantic holds a 100% working interest. The company is now in discussions with the Guyanese government to potentially revisit the non-commercialization notice issued by Tullow, the previous operator of Orinduik. Holzman also noted that the extended farmout process for Orinduik was influenced by the shift in focus from light Cretaceous oil to heavy oil development. Additionally, Eco Atlantic maintains a stake in the Canje block, which borders Stabroek, further solidifying its presence in Guyana’s burgeoning oil sector.
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Faber Criticizes Secretive BEL Acquisition Plan
Opposition Senator Patrick Faber has launched a scathing critique of the Belizean government’s secretive plan to acquire Fortis Belize and its shares in Belize Electricity Limited (BEL). Faber accuses the Briceño administration of lacking transparency in its dealings with Fortis principals, particularly regarding the financial and procedural details of the agreement. The senator expressed frustration over the rushed legislative process, which he claims forces the Senate to evaluate, study, and pass the bill in a single sitting. Faber described this approach as ‘unconscionable,’ suggesting the government is attempting to push through a significant financial deal without proper scrutiny. The acquisition includes Fortis Belize Ltd., which owns three hydroelectric dams, at a reported cost of $110 million USD. Faber questioned whether the payment has already been made, citing discrepancies in the circulated documents, including one marked ‘executed’ with the prime minister’s signature. This move, according to Faber, represents an unnecessary and costly expansion of the government’s initial plan to repurchase BEL shares.
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Central America Targets Connectivity Fix to Boost Regional Tourism
Central America is taking significant steps to address its connectivity challenges, which have long hindered the growth of its tourism sector. Despite marketing itself as a unified, multi-destination region, the lack of seamless air and land routes continues to restrict travelers’ ability to move freely between countries. Efren Perez, Pro Tem President of the Federation of Central American Tourism Chambers and President of the Belize Tourism Industry Association, emphasized the importance of this issue during a recent regional meeting. Key organizations such as the Central American Tourism Agency and FEDECATUR are collaborating to develop solutions that improve cross-border access, revisit the CA-4 Agreement, and strengthen partnerships with regional airlines. Perez highlighted that these efforts are part of a broader strategy to make travel within the region more accessible, encourage longer stays, and elevate Central America’s position on the global tourism map. During the meeting, Perez also discussed the need for regional immigration reforms and the integration of the private sector into promotional strategies. He provided an example of how travelers moving from Honduras to Belize might not require a round-trip ticket if they are engaging in multi-destination travel, which is a key focus of the region’s tourism promotion. Perez stressed the importance of balancing border security with the need to maintain a smooth flow of tourists. The private sector is actively working with government agencies to propose solutions that enhance connectivity and improve the overall tourism experience. These initiatives are expected to be a central topic in ongoing regional discussions, with the goal of fostering a more integrated and attractive tourism market in Central America.
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Howai: Central Bank not main supplier of forex to commercial banks
Central Bank Governor Larry Howai has addressed widespread misconceptions about the institution’s role in Trinidad and Tobago’s foreign exchange (forex) market. Speaking at the TT Stock Exchange’s Capital Markets and Investor Conference in Port of Spain on October 24, Howai emphasized that the Central Bank accounts for just over 20% of forex entering the financial system, with the remaining 80% sourced from private entities and individuals. He clarified that while the bank intervenes to stabilize supply, the majority of forex distributed through commercial banks originates from private channels. Howai stressed the need for long-term solutions to broaden the country’s capacity to earn forex, rather than relying on central bank interventions. He highlighted the importance of boosting exports, both traditional and non-traditional, such as those from the creative sector. Howai, a former finance minister, also discussed the challenges of managing interest rates, inflation, and forex outflows, noting that policy tools like the repo rate and reserve requirements often yield mixed results. He pointed out the narrowing interest rate differential between US and TT Treasury bills, which could influence local investment behavior. Howai underscored the critical relationship between the Central Bank and the Ministry of Finance in managing liquidity and inflationary pressures, advocating for continued public engagement to refine forex distribution mechanisms.
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Grand Lucayan power cut amid dispute over who pays overdue electric bill
The Grand Lucayan Resort in Grand Bahama experienced a temporary power outage on Thursday morning, reportedly due to unresolved electricity bills tied to the property’s recent change of ownership. The Office of the Prime Minister (OPM) confirmed that the issue was swiftly resolved, attributing it to a minor hiccup during the transition process. Latrae Rahming, Director of Communications at the OPM, stated, ‘The matter of power supply at the Grand Lucayan has been resolved, and electricity has been reconnected. This was a matter of reconciling utility bills between the government and the new owners.’ The resort, currently unoccupied, remains in a transitional phase as redevelopment efforts progress. Approximately 300 employees are still on staff to manage operations during this period. Sources revealed that the Grand Bahama Power Company (GBPC) disconnected the resort’s power supply due to unpaid arrears from the previous management. The new owners, Miami-based Concord Wilshire Capital, reportedly refused to assume the debt, leading to the brief disruption. GBPC declined to comment on the matter. The government sold the 56-acre property to Concord Wilshire in May for $120 million as part of an $827 million redevelopment plan aimed at transforming the resort into a mixed-use complex featuring a hotel, casino, marina, and cruise port. The incident highlights the challenges of transitioning ownership and the expectations for tangible progress on the project, which is seen as pivotal to revitalizing Grand Bahama’s tourism sector after years of setbacks, including hurricane damage and stalled ownership changes.
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TTSE announces shift to T+1 trade settlement by 2026
The Trinidad and Tobago Stock Exchange (TTSE) is set to transition to a one-day trade settlement cycle (T+1) by 2026, as part of its broader efforts to modernize operations and align with global standards. CEO Eva Mitchell made the announcement during her opening remarks at the TTSE’s 2025 Capital Markets and Investor Conference held at the Hyatt Regency in Port of Spain on October 24. Mitchell highlighted that the exchange had already reduced its settlement cycle from T+3 to T+2 in 2024, and the move to T+1 will further enhance market efficiency. The T+1 system, already adopted by major exchanges like the New York Stock Exchange, will reduce settlement time to a single day, improving liquidity and minimizing counterparty risk. Mitchell emphasized that this transition aligns the TTSE with global best practices for advanced exchanges. Alongside the settlement cycle change, the TTSE is rolling out a series of technology upgrades, including an updated depository portal set to launch in November. The new portal promises faster processing, smarter systems, and enhanced scalability, while also enabling the collection of valuable data to better understand market trends and opportunities. Additionally, the exchange introduced TOBI, a user-friendly digital assistant designed to help investors access information and ask questions about the market and its services. Mitchell also revealed that the TTSE has completed infrastructure for a new Spot Market to support derivatives trading, marking a first for the Caribbean. The exchange is also exploring the introduction of a ‘market maker’ framework to improve liquidity and price stability. In line with its commitment to sustainability, the TTSE has partnered with IDB Invest to develop a Green Bond Guide and joined the United Nations Sustainable Stock Exchanges (UNSSE) Initiative. Mitchell acknowledged the subdued local market but urged stakeholders to focus on long-term growth, emphasizing the importance of modernizing the market, embracing innovation, and fostering transparency and trust.