Carib Scope

分类： business

  • Mayberry Investments seeking $3 billion from bond market

    Mayberry Investments seeking $3 billion from bond market

    Jamaica-based leading securities dealer Mayberry Investments Limited (MIL) has announced a new secured bond issuance, seeking to raise between $2 billion and $3 billion from global and local investors to refinance a recently matured debt obligation and advance its ongoing corporate transformation strategy.

    On March 19, MIL fully redeemed its outstanding Tranche II bond, which carried a 10.75% interest rate and had a total face value of $2.06 billion. To replace this matured debt, the firm is launching a new 18-month bond tranche priced at a lower 10.50% interest rate, with an initial issuance target matching the size of the redeemed bond. In a positive sign of market accessibility, MIL chairman Gary Peart noted in the offering prospectus that the new issuance fills a gap in the market for small investors seeking stable, competitive fixed-income returns for their savings.

    To accommodate strong investor demand, MIL reserves the right to upsize the offering to a maximum of $3 billion. The new bond is backed by a fixed charge over MIL’s secured loan book pool, which is valued at $12.5 billion, underpinned by underlying assets worth $29.58 billion. To protect investor interests, MIL has agreed to binding financial covenants: its debt-to-equity leverage ratio will not exceed 4x, and it will maintain a minimum current ratio of 1.2x.

    Following the closure of the offering, MIL plans to apply to list the new tranche on the Jamaica Stock Exchange (JSE) Bond Market. Total transaction expenses are capped at $61.1 million, per the offering terms. This issuance marks the latest in a series of regular debt raisings by MIL and its sister subsidiary Mayberry Jamaican Equities Limited (MJE) on the JSE Bond Market, a trend that has continued annually since 2023. Currently, the two firms collectively have five listed securities worth $7.33 billion on the exchange. MIL previously redeemed its $1.98 billion Tranche IV bond in January 2025, while MJE faces $1.23 billion in combined bond maturities in August and October 2026. Both entities are core subsidiaries of the publicly traded Mayberry Group Limited.

    As of the latest market data, the JSE Bond Market hosts 15 listed securities with a total face value of $19.01 billion, alongside three USD-denominated bonds worth $32 million on the JSE USD Bond Market. MIL most recently served as lead broker and arranger for Dolla Financial Services Limited’s $1.5 billion dual-tranche bond listing, which closed on March 31.

    For the upcoming offering, the minimum subscription amount is set at $20,000, with additional increments available in multiples of $10,000 to accommodate different investor sizes. The offer opens for subscriptions on April 13 and is scheduled to close on May 11. Existing Mayberry clients can complete their subscriptions via the dedicated portal https://ipo.mayberryinv.com/mi-ipo, while new and non-client investors can apply through designated selling agent Sagicor Investments Jamaica Limited.

    The bond issuance comes on the heels of a landmark financial turnaround for MIL in 2025, which saw the 40-year-old broker swing from a pre-tax loss of $380.06 million in the prior year to a pre-tax profit of $377.61 million, representing a net $757.67 million improvement in profitability. The strong performance stemmed from a combination of aggressive cost-cutting initiatives and robust growth in the company’s core business lines, under the leadership of CEO Patrick Bataille in his first full year at the helm.

    Operating expenses fell 12% year-over-year, from $2.26 billion to $1.99 billion, a $275.63 million reduction. The largest single improvement came from a collapse in operational losses, which shrank from $255.49 million to just $1.87 million, driven by tighter operational oversight. The company also reversed $5.32 million in prior credit loss provisions, compared to a $148.13 million credit loss expense in the prior year. Bataille explained that the adjustment followed a comprehensive review of MIL’s loan book, which confirmed that existing collateral coverage was sufficient for all outstanding loans, eliminating the need for excess loss provisions.

    “What we did do in 2025, we reviewed everything that we’re provisioning. We identified where there were scenarios where we may have been over provisioning for things where we had enough collateral to cover it,” Bataille told attendees during a virtual investor briefing on Friday.

    Interest income for the year climbed 11% ($281.38 million) to $2.73 billion, fueled by a 20% expansion in the company’s loan and receivables book to $11.94 billion, alongside higher yields on repurchase agreements, promissory notes, and investment securities. While interest expense also rose 11% to $2.01 billion, MIL still posted $724.04 million in net interest income. Total full-year revenue grew 26% to $2.36 billion, lifted by higher consulting and commission fees, foreign exchange gains, and unrealized valuation gains on investment properties.

    Currently, 42% of MIL’s total revenue comes from fee-based consulting and commission income, and the company has set ambitious targets to grow this share over time: 50% in the near term, and 75% in the longer term. The strategic shift will see MIL reduce its reliance on balance sheet lending and reorient the business toward recurring fee income, a mandate Bataille received from the company’s board of directors.

    “Our goal is to really transform the business into a fee income generating business. That’s the mandate I got from my board,” the CEO said.

    As part of this transformation, MIL plans to de-risk its balance sheet through the use of structured financing vehicles to manage its lending portfolio more efficiently, alongside a planned sale of non-core assets to free up capital for its core advisory and wealth management lines. The company is also expanding its investment banking division, led by bankers Dan Theoc and Rachel Kirlew, and has multiple deals in the pipeline. Chairman Peart confirmed that the firm is on track to complete at least one initial public offering (IPO) within the next three months.

    Thanks to the strong full-year performance and the utilization of deferred tax credits, MIL’s net profit surged 358% year-over-year, from $139.28 million to $637.92 million. Total assets grew 7% to $44.25 billion, driven by the expanded loan book and $5.44 billion in net cash holdings. Total liabilities also rose 7% to $37.37 billion, with total outstanding loans standing at $13.21 billion and accounts payable growing 26% due to higher client payables. Shareholders’ equity improved 6% to $6.87 billion, translating to a book value of $5.72 per share. MIL’s capital adequacy ratio hit 18.16% at year-end, far exceeding the Jamaican regulatory minimum of 10%.

    “I’m very focused on our liquidity mix, what we’re borrowing at, what we’re lending at and identifying ways to become more efficient, particularly controlling our interest expense and getting a better balance of liquidity. We’re looking at more creative ways of managing that balance sheet,” Bataille said in closing.

  • BOOT Jamaica named business of the year at St Ann Chamber awards

    BOOT Jamaica named business of the year at St Ann Chamber awards

    RUNAWAY BAY, St Ann — The St Ann Chamber of Commerce’s annual awards ceremony, one of the most prestigious business events in the region, crowned BOOT Jamaica as its 2026 Business of the Year on March 29, capping off a night of celebration for outstanding enterprise across the parish. Held at the Cardiff Hall Hotel in Runaway Bay, the gathering drew a cross-section of attendees, from local business owners and chamber leadership to national government representatives and cross-sector stakeholders invested in St Ann’s economic growth.

    As the highest accolade of the night, the Business of the Year award was presented by Jamaica’s Prime Minister Andrew Holness, who also delivered the event’s keynote address focused on driving private sector growth across the country’s northern parishes. Founder and Executive Director Wayne Boothe alongside Chief Operating Officer Alexcia Boothe accepted the award on the company’s behalf, marking a major milestone in BOOT Jamaica’s years-long trajectory of expansion and innovation across Jamaica.

    In his acceptance remarks, Wayne Boothe framed the recognition as a milestone that comes as the company enters a new era of strategic growth. “This award comes at a defining moment for BOOT Jamaica. As we expand through developments such as BOOT 2 and planned growth in parishes, including St James and Trelawny, we are reimagining what convenience and service look like across Jamaica,” he said. “We are honoured by this recognition and remain committed to sustained investment, innovation, and excellence in St Ann and beyond.” Boothe also extended gratitude to his company’s team, community partners, and loyal customers, reaffirming the organization’s core mission of delivering exceptional customer service while driving inclusive economic growth and sustainable community development across the island.

    Beyond its commercial success, BOOT Jamaica’s commitment to community emergency preparedness also earned special recognition during the ceremony. Custos of St Ann Joseph Issa highlighted the work of the Custos Commandos, a volunteer emergency response initiative, in strengthening local disaster response systems across the parish. Alexcia Boothe was separately honored for leading a parish-wide shelter support initiative launched in the wake of Hurricane Melissa. The program delivered 2,000 sleeping bags and soup kits to vulnerable communities, while also funding critical infrastructure upgrades to shelters that improved access to reliable power during emergencies and boosted overall response efficiency in post-storm recovery efforts.

    The St Ann Chamber of Commerce’s annual awards were created to celebrate outstanding business performance and measurable contributions to local economic development across the parish. For the 2026 iteration, organizers awarded 12 honors across diverse categories, including social responsibility and community impact, education excellence, and small business of the year, with Business of the Year standing as the pinnacle of achievement for local enterprises. BOOT Jamaica claimed the top prize from a competitive pool of high-profile nominees that included Pure Chocolate Jamaica and the Jamaica Public Service Company. Judges and peer industry voters highlighted the company’s aggressive, forward-thinking expansion strategy as the key deciding factor in its selection, pointing specifically to the 2025 groundbreaking of the highly anticipated BOOT 2 development as evidence of the company’s outsized impact on the parish’s economic outlook.

  • First ships cross through Strait of Hormuz since ceasefire—monitor

    First ships cross through Strait of Hormuz since ceasefire—monitor

    PARIS, France (AFP) — Just hours after a fragile truce between the United States and Iran was meant to reopen one of the world’s most critical energy chokepoints, shipping activity through the Strait of Hormuz remained severely constrained Wednesday, offering little immediate relief to global energy markets grappling with months of disrupted trade.

    Only three vessels — all bulk carrier cargo ships — had either completed or were nearing completion of their transits of the 21-mile waterway by Wednesday afternoon, according to real-time tracking data from global maritime intelligence service MarineTraffic. The count only accounts for vessels that kept their navigation transponders active, leaving open the possibility that additional unreported crossings occurred with signals turned off.

    The first two crossings were completed early Wednesday, mere hours after the ceasefire agreement was made public. The Liberia-flagged Daytona Beach, which departed the Iranian port of Bandar Abbas at 05:28 UTC, crossed the strait at 06:59 UTC, while Greek-owned bulk carrier NJ Earth completed its passage at 08:44 UTC. A third vessel, the Chinese-owned, Botswana-flagged Hai Long 1 — also departing from Iran — was approaching the end of its transit by mid-afternoon Wednesday.

    Notably, the NJ Earth had already crossed into the Gulf of Oman between Monday and Tuesday before returning through the strait again on Wednesday. Ana Subasic, an analyst with commodities data firm Kpler — which owns MarineTraffic — told AFP that this single transit is an encouraging early signal, but it remains too early to confirm whether it marks the start of a full, ceasefire-driven reopening of the waterway, or merely a one-off exception approved by Iranian authorities before the truce took effect.

    Both the NJ Earth and Daytona Beach used the Iran-approved transit corridor near Larak Island, the only route most vessels have been allowed to use for the past three weeks amid Iran’s access restrictions. While the Daytona Beach listed the United Arab Emirates’ Fujairah port as its destination on its transponder, AFP was unable to immediately confirm the NJ Earth’s final destination. By 16:00 GMT Wednesday, several additional cargo vessels were observed heading toward the same approved corridor for transit.

    The slow resumption of activity comes as shipping industry reports confirm that hundreds of vessels remain stuck in the Gulf region. Shipping industry publication Lloyd’s List reported Wednesday that some shipowners and charterers have begun preparations to move the hundreds of vessels stranded since restrictions took effect, with the outlet estimating that roughly 800 ships are currently held in the Gulf.

    Iran implemented the severe restrictions on access to the strait in late February as a retaliatory measure following coordinated US and Israeli strikes on Iranian assets in the region. Data from Kpler shows that between March 1 and April 7, just 307 commodity-carrying vessels completed crossings of the strait — a 95% drop from pre-restriction traffic levels.

    The strait carries outsized importance for global energy security: in peacetime, roughly 20% of the world’s total daily crude oil and liquefied natural gas supplies pass through the waterway, making even minor disruptions to traffic enough to shift global energy prices and threaten supply chains worldwide.

  • HIRING: Bartenders and Cooks

    HIRING: Bartenders and Cooks

    The food and beverage sector continues to show signs of steady recovery, as one local hospitality business has recently posted open positions for two key front- and back-of-house roles: bartenders and cooks.

    As consumer demand for dining and social experiences out of the home continues to climb following years of industry disruption, venues across the country are working to rebuild their teams to match rising customer foot traffic. The open bartender role will be responsible for crafting beverage menus, mixing classic and signature drinks, interacting with guests to deliver a welcoming venue experience, and managing bar stock to keep service running smoothly. Ideal candidates will bring prior hospitality experience, a deep understanding of safe alcohol service protocols, and strong interpersonal skills to connect with patrons.

    For the open cook position, the business is seeking professionals who can maintain consistent food quality, work efficiently in a fast-paced kitchen environment, adhere to strict food safety and sanitation standards, and collaborate with front-of-house staff to coordinate timely order delivery. Relevant culinary experience, the ability to multitapse during peak service hours, and a commitment to delivering high-quality dishes are listed as key qualifications for the role.

    Industry analysts note that ongoing hiring activity in frontline hospitality roles signals growing confidence among small business owners in the sustained strength of consumer spending on leisure and dining experiences. Many venues are currently offering competitive hourly wages, flexible scheduling, and in some cases tips and performance-based bonuses to attract qualified workers to fill these critical positions.

  • IMPORTANT CLOSURE NOTICE: Rhudd & Associates

    IMPORTANT CLOSURE NOTICE: Rhudd & Associates

    A significant announcement has been made this week regarding the permanent closure of Rhudd & Associates, a long-standing entity that has operated in its respective industry for an extended period. The formal closure notice, issued directly by firm leadership, confirms that the organization will wind down all business activities and cease client services completely in the coming weeks.

    While specific details surrounding the exact catalysts for the closure have not been fully disclosed to the public, industry observers note that the decision comes amid a shifting economic landscape that has impacted many similar firms across the sector. Stakeholders, including current clients, employees and partners, have already begun receiving individual notifications to assist with the transition process, including the transfer of ongoing projects and closure of outstanding accounts.

    For long-time clients who have relied on Rhudd & Associates for specialized services, the closure marks the end of a trusted professional partnership. The firm’s leadership has stated that they are committed to making the wind-down process as orderly and transparent as possible, to minimize disruptions for all parties involved. As the firm completes its final operational procedures, industry groups are already noting the gap that will be left by Rhudd & Associates’ exit from the market.

  • Sluiting Straat van Hormuz verdeelt olie-inkomsten Midden-Oosten: winnaars en verliezers

    Sluiting Straat van Hormuz verdeelt olie-inkomsten Midden-Oosten: winnaars en verliezers

    Since late February, one of the world’s most critical energy chokepoints, the Strait of Hormuz, has been effectively closed by Iranian authorities, sending shockwaves through global energy markets and creating a stark divide in financial outcomes for oil-producing nations across the Middle East, a new Reuters analysis finds. Roughly 20% of the world’s daily oil and liquefied natural gas flows pass through this narrow waterway, making its disruption a major global economic flashpoint.

    The closure followed escalating regional tensions after the United States and Israel launched airstrikes on Iranian targets. While Iran later relaxed restrictions to allow vessels with no American or Israeli links to transit, keeping a small number of tankers moving through the strait, global energy markets have remained extremely volatile. Brent crude prices recorded a historic 60% jump in March alone, a surge that has reshaped revenue calculations for every major producer in the region.

    The uneven impact of the crisis boils down to one key factor: geography. Nations that control the strait or have pre-built alternative export routes are reaping massive financial windfalls from sky-high prices, while countries dependent entirely on Hormuz access are facing catastrophic revenue losses.

    Iran, which controls access to the strait, has seen its oil revenue climb 37% compared to last year. Oman and Saudi Arabia have also posted gains: Omani revenue rose 26% year-on-year in March, while Saudi Arabia recorded a 4.3% increase. The United Arab Emirates (UAE) saw a modest 2.6% dip in revenue, as higher global prices offset most of the losses from reduced export volumes.

    Saudi Arabia’s ability to weather the crisis stems from a key infrastructure investment made decades ago. During the 1980s Iran-Iraq War, the kingdom built the 1,200-kilometer East-West Pipeline, which connects its eastern oilfields directly to the Red Sea port of Yanbu, bypassing the Strait of Hormuz entirely. Since the closure, the pipeline has been operating at full capacity of 7 million barrels per day. Even though Saudi Arabia’s total crude export volume dropped 26% in March, the record-high oil prices pushed the total value of its exports up by more than $550 million compared to typical monthly levels. Exports through Yanbu have operated near maximum capacity despite recent attacks on the port, though the kingdom remains vulnerable to further strikes on its energy infrastructure and the nearby Bab el-Mandeb shipping lane from Iran and its Houthi allies in Yemen.

    For nations without alternative export routes, the picture is far grimmer. Iraq and Kuwait have been hit hardest, with year-on-year revenue drops of 76% and 73% respectively in March. Iraq’s total oil revenue for the month fell to just $1.73 billion, while Kuwait’s dropped to $864 million. Iraq saw limited support from cargoes that departed just before the escalation of tensions, but analysts warn April revenue will likely be even lower. Qatar has also suffered steep losses due to its lack of alternative export infrastructure for both oil and gas.

    The UAE, which operates the Habshan-Fujairah pipeline that can bypass Hormuz with capacity between 1.5 million and 1.8 million barrels per day, still saw its total revenue fall by more than $174 million in March after attacks targeted the Fujairah port, disrupting operations.

    Looking ahead, most Gulf states appear to have the financial buffer to absorb this short-term shock, according to Adriana Alvarado, vice president at ratings firm Morningstar DBRS. With the exception of Bahrain, most regional governments hold enough reserve savings and maintain public debt levels below 45% of GDP, giving them room to borrow or draw down savings to offset temporary revenue losses.

    In the longer term, the crisis has reignited global debates over energy security. Some Western oil companies and political leaders are calling for increased investment in fossil fuel production to avoid future supply disruptions, but many energy analysts argue that accelerating the transition to renewable energy is the only durable protection against future geopolitical price shocks. A recent high-profile example of this transition push came earlier this year, when French energy giant TotalEnergies and UAE-backed renewable firm Masdar announced a $2.2 billion joint venture to rapidly scale up renewable energy development across nine Asian nations.

    As the standoff over the strait continues, with U.S. President Donald Trump threatening severe retaliation against Iran if the waterway is not reopened by Tuesday, the global energy industry remains on edge, waiting to see how the crisis will reshape long-term energy policy and market dynamics.

  • $10b Afreximbank shield for C’bean, African economies amidst Gulf crisis

    $10b Afreximbank shield for C’bean, African economies amidst Gulf crisis

    Against the backdrop of an escalating Gulf crisis that has roiled global commodity markets and supply chains since late February, the African Export-Import Bank (Afreximbank) has launched a landmark $10 billion Gulf Crisis Response Programme (GCRP) to buffer vulnerable African and Caribbean economies, financial institutions and businesses from the fallout of the ongoing regional turmoil. The Gulf region stands as one of the world’s most critical hubs for core global commodities: it is a leading supplier of crude oil, liquefied natural gas (LNG) and agricultural fertilizers, while the Strait of Hormuz—one of the busiest and most strategically vital shipping chokepoints on the planet—carries nearly a fifth of the world’s daily oil consumption. When the crisis escalated, it sent immediate shockwaves across global trade and pricing systems, with developing economies in Africa and the CARICOM bloc disproportionately bearing the brunt of the disruption. The most severe impacts have fallen on nations that depend heavily on imports of fuel, food and fertilizers, as well as those whose trade routes rely on Gulf shipping corridors. Beyond commodity markets, the crisis has also upended foreign direct investment flows, crippled regional tourism sectors and cut off critical remittance inflows that millions of households rely on. Designed to address these overlapping vulnerabilities, the GCRP targets four core priorities to deliver immediate relief and build long-term stability. First, the program will provide urgently needed short-term foreign exchange and liquidity support to vulnerable member states, ensuring they can maintain uninterrupted imports of essential goods including fuel, LNG, food, fertilizers and pharmaceuticals. Second, it will empower African energy and mineral exporters to leverage shifting trade patterns and elevated commodity prices by expanding productive capacity for strategic raw materials, offering pre-export financing, working capital support and inventory financing to help market participants adapt to new trade routes. Third, the program delivers targeted short-term relief to member states whose tourism and aviation sectors have suffered steep losses from the crisis, helping these industries avoid permanent damage and maintain operations through the period of volatility. Finally, the GCRP includes a medium- to long-term resilience-building component, focused on expanding productive capacity for energy and mineral producers and exporters, while accelerating work on key energy, port and logistics infrastructure projects that were delayed by the crisis. Speaking on the program’s official launch on March 31, George Elombi, President and Chairman of Afreximbank’s Board of Directors, emphasized that targeted crisis response is core to the bank’s institutional mission. “We understand how our economies work and the pain points associated with these transitory crises,” Elombi noted. He added that the program will not only help African and Caribbean nations adjust smoothly to the current upheaval, but also strengthen their ability to withstand future shocks by supporting structural transformation of local economies. The GCRP is the latest in a series of timely emergency interventions rolled out by Afreximbank over the past decade. Previous initiatives have successfully helped cushion regional economies from the impact of major global shocks including the 2015/16 commodity price crash, the 2020/2021 COVID-19 pandemic, and the 2023/24 Ukraine crisis, building on the bank’s established track record of rapid, targeted support for developing economies in times of global instability.

  • Tancoo, Young clash over business closures

    Tancoo, Young clash over business closures

    A growing wave of business closures is sweeping across Trinidad and Tobago, triggering a bitter political blame game between the current United National Congress (UNC) administration and the former People’s National Movement (PNM) government over who is responsible for the country’s deep economic distress. Over the past three weeks alone, multiple well-established local businesses have announced permanent shutdowns or major restructuring, marking one of the sharper downturns for the private sector in recent memory. Among the latest closures is Bick’s Auto, a long-running auto parts supplier in Penal, which announced it would shut its Penal branch and hold a liquidation sale, even giving away bulk steel components for free to clear inventory ahead of closing. Kristina’s, a beloved local shoe retailer that has operated on Port of Spain’s Frederick Street for more than 30 years, also confirmed it would close that location at the end of April. In an emotional social media announcement, the brand framed the Frederick Street outlet as more than a store, noting it had been a community hub where generations of customers built relationships and made memories. While the chain’s nine other locations will remain open, the closure of the flagship branch has been felt deeply by local shoppers. Undercover Garden Centre, a popular Santa Cruz plant and gardening retailer, is also leaving its current location to prepare for relocation, though its weekly farmers’ market will continue operation under new management. Soapmakers Paradise, a Tacarigua-based craft supply business, announced its permanent closure after more than a year of attempting to stay open amid persistent operational challenges. The company explained that repeated struggles to access sufficient foreign exchange – a long-running pain point for local import-reliant businesses – ultimately forced the decision to shut down permanently, after the business had already extended operations for a year in response to customer requests. As the closure trend accelerates, the country’s top political figures have traded sharp accusations over which administration created the crisis. Current Finance Minister Davendranath Tancoo placed full blame on the previous PNM government, arguing that the outgoing administration’s flawed economic policies left the current government with an economy that had contracted by 20% when the UNC took power nearly a year ago. When asked directly for a message to struggling small business owners fighting to stay open, Tancoo declined to comment directly on their plight, instead hitting out at local media for failing to hold the prior PNM administration accountable for its economic mismanagement. He pushed back against critical coverage of the current government’s performance, claiming that the UNC has already rolled out a series of pro-growth policies that will drive a future economic resurgence, and argued that media outlets continue to ignore the lasting damage of 10 years of PNM rule. Former prime minister Stuart Young, representing the opposition PNM, rejected Tancoo’s claims and turned the blame back on the current UNC administration led by Prime Minister Kamla Persad-Bissessar. Young argued that the UNC’s own policy decisions have devastated the economy: he pointed to the government’s decision to lay off more than 40,000 public sector workers and sweeping tax increases implemented in the administration’s first national budget, which have left households with less disposable income and driven sharp increases in the cost of living. Young noted that small businesses are not just struggling, but closing at record rates, with bars and restaurants hit particularly hard by what he described as “inhumane” new tax policies. He also condemned Tancoo for hosting a celebratory government event amid widespread economic hardship, calling it a slap in the face to tens of thousands of struggling families who face food insecurity. Independent economic analysis has framed the current wave of closures as an expected growing pain amid a long, slow transition period for Trinidad and Tobago’s energy-reliant economy. Leading local economist Dr. Roger Hosein explained that persistent foreign exchange shortages, a core challenge that has forced multiple businesses to close, are a temporary issue tied to the country’s current energy production cycle. Hosein noted that while the next two and a half years will remain difficult for businesses, a gradual economic recovery is expected starting in 2027, when the new Manatee gas field and other small natural gas projects come online. The International Monetary Fund, which recently completed an official visit to the country, has also projected a gradual growth pickup between 2027 and 2030, which should ease foreign exchange constraints as energy export revenues rise. Hosein added that if proposed cross-border energy projects, including the Dragon gas field and development of Venezuelan gas reserves for processing in Trinidad and Tobago, move forward, the recovery will be even stronger. In the near term, he advised struggling businesses to prioritize survival strategies, including targeted cost cutting, expanded marketing and networking to boost sales, and hold on until improved economic conditions arrive.

  • Digital Nomad Summit Santo Domingo boosts DR’s global profile with new speakers and cross-border initiatives

    Digital Nomad Summit Santo Domingo boosts DR’s global profile with new speakers and cross-border initiatives

    The Dominican Republic’s ambitions to claim the title of a leading regional hub for remote work, innovation, and cross-border commerce took a major step forward this week, as organizers of the Digital Nomad Summit Santo Domingo (DNS) announced key updates to its upcoming 2026 program, confirmed high-profile speakers, and expanded institutional and strategic partnerships.

    Organized by Successment, Latin America’s top specialist firm for innovation and revenue operations focused on emerging market ecosystems, the DNS has grown into the premier global gathering connecting entrepreneurs, investors, policymakers, and global digital talent across the Caribbean and Latin America corridor. This year’s event builds on that momentum with new programming designed to turn conversation into tangible commercial and collaborative action.

    Three leading figures from the Dominican public and private sectors have been confirmed as keynote speakers, each bringing unique perspective to the country’s growing innovation competitiveness. Arlette Palacio, who leads the Sustainability Committee at the American Chamber of Commerce in the Dominican Republic (AMCHAMDR) and serves as founder and CEO of education innovator Educology, will explore how sustainable practices, intentional talent development, and private-sector leadership combine to build world-class competitive innovation ecosystems. Armando J. Manzueta Peña, Vice Minister of Innovation & Technology at the country’s Ministry of Public Administration (MAP), will deliver insights on public service modernization, the expansion of digital government infrastructure, and building citizen-centric economic frameworks that support long-term productive growth. Rounding out the confirmed speaker lineup is Biviana Riveiro, Executive Director of ProDominicana, who will outline the Dominican Republic’s national strategy to grow services exports, boost global competitiveness, and cement the country’s position as the go-to regional hub for cross-border innovation.

    Beyond keynote programming, DNS is rolling out two new core initiatives designed to foster real-time business connections. The first is a dedicated startup track, headlined by a national and regional pitch competition being developed in partnership with leading Dominican institutions, with final sponsorship backing from groups including Eurocámara RD currently in the final stages of confirmation. This track is explicitly designed to elevate emerging homegrown and regional founders, turning the summit itself into an active deal-making environment for early-stage investment and partnership. The 2026 edition will also expand cross-border innovation collaboration, connecting Dominican public and private institutions with global and regional peers across key sectors aligned with digital nomad and remote work growth: real estate, tourism, technology, policy, foreign investment, and diaspora capital mobilization.

    Organizers have also confirmed a new Digital Nomad Influencer Roundtable, featuring a roster of creators with deep established reach among U.S. audiences and digital nomad communities: Nicole (@itsnickiiabreu), Rosalyn (@smartcaribbean), Julio & Anthony (@dominicanbridge), and Jay (@iamjayabroad). The roundtable will focus on elevating the Dominican Republic’s profile as an attractive destination for global remote workers and location-independent professionals. Confirmed media partners for the event include leading local online outlet Dominican Today and leading business publication Periódico elDinero, while discussions are ongoing with a slate of high-profile potential sponsors including Arajet, ProDominicana, Google, SoftBank, Mastercard, Visa, the Dominican Ministry of Tourism, ADOEXPO, BanReservas, Asociación Cibao, UNIBE, and PUCMM. Organizers project total attendance will surpass 300 regional and international business and policy leaders.

    Two exclusive global debuts are also scheduled for the 2026 summit. DNS will host the worldwide launch of the *Dominican Innovation & Transnational Export Report 2026 (DITER 2026)*, endorsed by leading Dominican academic institution INTEC and small business development body Promipymes. The report will deliver granular, up-to-date data on the current state of the Dominican Republic’s innovation economy and its export competitiveness for global stakeholders. Successment will also publicly launch ZARI Mobility, the Dominican Republic’s first fintech platform focused on risk modeling, built to expand financial inclusion and support data-driven decision-making for businesses and investors operating in emerging markets.

    In a statement shared alongside the program announcement, Jonathan Joel Mentor, Principal and CEO of Successment and founder of the Digital Nomad Summit Santo Domingo, framed the event as a turning point for the region’s innovation ecosystem. “The Dominican Republic is no longer talking about innovation—we’re executing it. The Digital Nomad Summit is where global and local actors come together to build real commercial relationships across borders. Our goal is simple: create a deal-room environment where the Dominican Republic stands as the Japan of the Caribbean—disciplined, competitive, and open for global business. This Summit is an inflection point for the region’s innovation economy.”

    Now established as the Caribbean-LATAM Corridor’s leading event at the intersection of innovation, remote work mobility, and cross-border commerce, DNS brings together public sector leaders, global investors, international digital talent, and private-sector innovators to reimagine competitiveness for emerging market economies. More information about the event, registration, and updates can be found on the official summit website at www.digitalnomadsummit.co.

  • Codopyme urges delay of solid waste law over SME impact

    Codopyme urges delay of solid waste law over SME impact

    Leading small business advocates in the Dominican Republic are pushing for major adjustments to a landmark environmental regulation, warning that its current structure threatens the survival of the country’s most vital economic segment. The Dominican Confederation of Micro, Small and Medium Enterprises (Codopyme) has formally called on national authorities to pause the planned rollout of Law 225-20 and launch a broad, inclusive revision process to address the legislation’s outsized impact on small and medium-sized business owners.

    Enacted in 2020, Law 225-20 sets out the Dominican Republic’s first comprehensive regulatory framework for coordinated solid waste management across all sectors of the economy. The law establishes binding rules for waste reduction, mandatory recycling targets, and standardized disposal protocols, alongside the creation of a national financing system that requires all registered companies to contribute monetary funds to support municipal waste collection and broader environmental stewardship initiatives.

    In a formal statement outlining the organization’s position, Codopyme president Fernando Pinales warned that full implementation of the law as currently written would drive a sharp increase in production costs for micro, small and medium enterprises, a group that accounts for more than 98% of all business entities operating in the Dominican Republic. These increased costs, Pinales argued, would almost certainly be passed on to end consumers in the form of higher goods and services prices, running directly counter to ongoing government efforts to curb sky-high national inflation and protect the purchasing power of working-class households.

    The confederation stressed that it does not oppose the law’s core environmental goals: its leaders repeatedly affirmed that Dominican SMEs are fully committed to upholding environmental responsibility and advancing sustainable waste management practices. What small business owners cannot accept, the group says, is a one-size-fits-all framework that imposes disproportionate cost burdens on small operations and creates structural conditions that favor large, multinational corporations with far deeper financial resources.

    Beyond cost concerns, Codopyme has also raised pointed questions about transparency and accountability in the new regulatory system. The organization says it has identified significant risks of potential conflicts of interest in the oversight and management of the new industry-financed waste management fund, calling into question whether current governance mechanisms for the fund meet minimum standards for transparency and public accountability.

    To address these gaps, Codopyme has put forward a clear set of policy demands: a full delay of the law’s enforcement timeline, a collaborative technical review process that includes formal representation from SME sector leaders, sweeping reforms to the law’s oversight and fund management mechanisms, and the redesign of the financing system to create a graduated, fair structure that aligns contribution requirements with a company’s size and operational capacity. The group closed its statement by reaffirming its willingness to engage in constructive, good-faith dialogue with government officials, while emphasizing that it will continue to defend the long-term sustainability and global competitiveness of the Dominican Republic’s SME sector.