Carib Scope

分类： business

  • Venezuela’s Liberation is a signal: The Dominican Republic must act

    Venezuela’s Liberation is a signal: The Dominican Republic must act

    A strategic recalibration is underway across Latin America, driven not by political declarations but by subtle shifts in economic posture. Venezuela’s gradual reintegration into regional dialogues—alongside potential Cuban transitions—is triggering significant behavioral changes among investors, entrepreneurs, and diaspora communities. This evolving landscape presents both unprecedented opportunities and critical warnings for the Dominican Republic.

    The real prize isn’t merely participating in reopening markets but becoming the operational platform that enables regional expansion. Historical patterns demonstrate that when long-closed economies reopen, they don’t gradually return—they experience explosive growth. The true beneficiaries are rarely the reopening countries themselves, but rather the nations that establish themselves as command centers for incorporation, talent development, capital structuring, and intellectual property registration.

    The Dominican Republic possesses unique advantages for this platform role: a growing digital nomad ecosystem, culturally agile workforce, emerging startup scene, international visibility, and economically influential diaspora networks. However, positioning requires deliberate engineering rather than passive assumption.

    For digital nomads, this represents leverage opportunity—early embeddedness in developing ecosystems grants access to high-value consulting, cross-border ventures, and equity opportunities. For Dominican entrepreneurs, it’s about scaling exportable structural necessities: logistics systems, financial infrastructure, workforce platforms, and compliance technologies rather than consumer apps alone.

    The critical risk involves strategic preparation. Without establishing itself as the designated center for company formation, system design, and operational management, the DR risks being overshadowed when Venezuela and Cuba attract massive international attention, infrastructure investment, and returning diaspora resources.

    Strategic imperatives include transitioning from talent destination to system builder, developing exportable intellectual property in SaaS, fintech, and smart city technologies, and preparing to provide payment systems, workforce pipelines, and compliance structures for reopening markets. This requires architectural design rather than mere hustle—creating frameworks that transform creativity into scalable value.

    This moment represents a rare convergence of stability, visibility, talent mobility, and regional curiosity. The Dominican Republic’s opportunity lies not in its size but in its timing. The fundamental question remains: will the nation design the changes benefiting the region or merely benefit from changes designed elsewhere?

  • ILO reports Dominican unemployment at 4.9% in 2025

    ILO reports Dominican unemployment at 4.9% in 2025

    SANTO DOMINGO – The Dominican Republic has solidified its position as a regional leader in employment, maintaining one of Latin America’s lowest jobless rates according to newly released international data. Minister of Labor Eddy Olivares, citing the International Labour Organization’s (ILO) Labour Panorama 2025 report, announced the national unemployment rate reached approximately 4.9% in 2025, significantly outperforming the regional average of 6%.

    The nation’s economic resilience is largely attributed to robust expansion in labor-driven sectors including services, construction, and tourism. Minister Olivares credited this sustained employment recovery to the strategic public policies enacted under President Luis Abinader’s administration. These measures, which emphasize economic growth, social dialogue, and human-centric labor reforms, have collectively fortified the national job market.

    Looking forward, government projections indicate optimism for further improvement, with unemployment potentially dipping below the current 4.9% threshold by 2026. Strategic priorities will focus on enhancing youth employment opportunities, addressing workforce gender disparities, and accelerating the formalization of jobs. In collaboration with private sector partners and worker representatives, the Ministry of Labor plans to expand initiatives such as job placement services, first-job programs, vocational skills training, and comprehensive labor inspections. These coordinated efforts aim to cultivate an inclusive and sustainable labor framework for the future.

  • GGMC suspends operations of more than 100 Brazilian gold miners

    GGMC suspends operations of more than 100 Brazilian gold miners

    In a significant enforcement action, the Guyana Geology and Mines Commission (GGMC) has immediately suspended operations for 107 Brazilian gold miners following a major joint operation in Georgetown that resulted in gold seizures and identification of undocumented individuals.

    The regulatory body announced the sweeping suspensions on Monday, January 5, 2026, just two days after coordinated operations involving GGMC, the Ministry of Natural Resources’ Compliance Unit, and the Guyana Police Force. The suspended miners, predominantly based in Georgetown with some from Bartica, have lost all permissions to operate pending further engagement with regulatory authorities.

    This crackdown follows a January 2 public notice requiring named individuals to present themselves to the GGMC. The Commission emphasized that the suspensions are without prejudice to additional regulatory or enforcement actions that may be pursued lawfully.

    The Ministry of Natural Resources, while declining to specify the quantity of gold seized, characterized the operation as part of ongoing efforts to combat illegal mining and precious metal trading. ‘During these operations, several undocumented individuals were processed, gold was seized, and the verification of persons of interest was successfully completed,’ the ministry stated.

    The Guyana government maintains a strict zero-tolerance policy toward illegal mining activities, with officials warning that similar operations will be conducted nationwide to ensure compliance with mining regulations. The ministry urged public cooperation in reporting suspicious activities related to illegal mining and trading.

    This action aligns with President Irfaan Ali’s recent warnings that gold miners caught under-declaring production could face dredge deregistration, while foreign offenders—primarily Brazilians—could face prosecution and expulsion. The President had previously indicated Guyana’s commitment to partnering with the United States to combat gold smuggling that potentially empowers undemocratic forces.

  • Fuel price hike adds to pressure on taxi and PSV drivers

    Fuel price hike adds to pressure on taxi and PSV drivers

    A newly implemented fuel price increase has triggered grave concerns within Barbados’s transport sector, with taxi drivers and Public Service Vehicle (PSV) operators warning of intensified financial pressures. The adjustment, which took effect at midnight on Sunday, introduces heightened operational costs for an industry already grappling with stagnant fares and significant overheads.

    According to the latest pricing structure, petrol has risen by three cents to reach $3.88 per litre, while diesel experienced a more substantial jump of nine cents, settling at $3.41 per litre. Conversely, kerosene saw a decrease of eight cents to $1.48 per litre. Prices for liquefied petroleum gas (LPG) were also detailed across various cylinder sizes. The next scheduled price review is set for February 1.

    For operators, these increments, though seemingly marginal, accumulate swiftly given their daily reliance on fuel. The sentiment on the ground is one of resigned acceptance. Veteran taxi driver Enson Bowen, echoing a widespread feeling of futility, stated, “I don’t study it no more… You just draw a line in the middle.” He expressed skepticism about long-discussed government subsidies, noting a continued lack of clarity on any relief measures.

    The financial impact is acutely felt. Driver Kenneth Durant acknowledged the inevitability of the hike, citing embedded taxes as a core issue, while Wayne Padmore, a driver with over 15 years of experience, explained how the increase directly erodes already slim profit margins. “Fuel gone up and the taxi fees still at the same price,” he said, highlighting the mismatch between rising costs and unchanged revenue.

    From a broader industry perspective, Roy Raphael, Chairman of the Alliance Owners of Public Transport (AOPT), underscored the severe ramifications. Emphasizing that PSVs move 80% of the island’s traveling public, he revealed that smaller units now spend up to $175 daily on diesel, with larger vehicles consuming between $200 and $350. Country routes, which require longer travel distances, are anticipated to be the hardest hit.

    Raphael further identified exorbitant insurance costs—ranging from $10,000 to $25,000 annually per vehicle—as a critical burden, equating to at least $1,200 per seat per year. He called for greater transparency from insurance providers and the creation of incentives for safer driving to mitigate premiums.

    Looking toward the future, Raphael confirmed that strategic talks are underway with the Ministry of Energy to transition towards electric vehicles, with a target of converting 25% of the fleet by early 2027. Additionally, plans are in motion to establish a buyers’ club to help members source vehicle parts and oil at more reasonable rates, addressing the challenge of costly imports.

  • Caribbean PR firm wins international award three years in a row

    Caribbean PR firm wins international award three years in a row

    Carli Communications, a Trinidad and Tobago-based public relations consultancy, has achieved an extraordinary milestone by securing the prestigious PR Agency of the Year award from Business Circle Magazine for the third consecutive year. This remarkable triple victory places the Caribbean firm among an elite group of communications specialists worldwide.

    The UK-based Business Circle Magazine confirmed that their awards program specifically honors visionaries who are actively shaping business futures through groundbreaking innovation. The selection process involved meticulous analysis of nominee submissions, supplemented by independent investigations and verifiable public data collected by dedicated research teams.

    According to the awarding body, winners were determined through an uncompromising merit-based evaluation system that assessed multiple criteria including customer service excellence, innovative approaches, creative solutions, service quality, industry experience, sustainability initiatives, and demonstrable strategic influence.

    Founder and CEO Carla Williams Johnson established Carli Communications with a mission to elevate Caribbean businesses and executives onto respected regional and international platforms. The firm has developed an impressive reputation for strategic brand positioning, sophisticated media relations, crisis management expertise, and thought leadership development.

    In response to this unprecedented third consecutive win, Johnson stated: ‘This recognition truly belongs to our clients, partners, and supporters who believe in the transformative power of strategic visibility. Our fundamental mission remains unchanged – to uplift and promote Caribbean businesses and leaders. We take immense pride in representing Caribbean excellence on the international stage, proving that world-class public relations expertise originates right here in our region.’

    This continuing international recognition underscores Carli Communications’ commitment to delivering results-driven public relations services grounded in strategic planning, unwavering credibility, and deliberate visibility campaigns. The firm continues to serve as a powerful advocate for Caribbean business excellence in global markets, having surpassed approximately 90,000 international entities to claim this distinguished honor three years running.

  • BCEN calls for policies to be more inclusive

    BCEN calls for policies to be more inclusive

    The Barbados Consumer Empowerment Network (BCEN) has issued a compelling call for financial policies that prioritize accessibility and consumer choice during the nation’s economic modernization efforts. In her New Year’s address, BCEN Executive Chairman Maureen Holder emphasized that regulatory effectiveness depends not merely on enforcement but on transparency, clarity, and meaningful stakeholder engagement.

    While acknowledging Barbados’ progress in aligning its financial systems with international standards set by the Financial Action Task Force (FATF), Holder presented a crucial distinction between regulatory modernization and genuine development. She argued that true development must be measured by tangible improvements in livelihoods, broad-based participation, and concrete gains for households and communities rather than technical compliance alone.

    The consumer advocate stressed that as Barbados deepens its financial reforms through transformation initiatives and enhanced regulatory compliance, implementation must remain risk-based, proportionate, and inclusive. She specifically highlighted the vital role of cooperatives and credit unions in maintaining financial access and community resilience, urging policymakers to support these institutions as regulatory expectations evolve.

    Addressing current economic challenges, Holder noted that Barbadians continue to face significant cost-of-living pressures with concerns about high prices for essential goods and services. She advocated for strong competition policy, transparent pricing mechanisms, and robust consumer protection measures as critical complements to macroeconomic reforms. Holder concluded that affordability and fairness must remain central priorities alongside profit maximization, achievable through enhanced monitoring, accountability, and stakeholder engagement.

  • Cornerstone secures key approvals for JNFM acquisition and Proven partnership

    Cornerstone secures key approvals for JNFM acquisition and Proven partnership

    KINGSTON, Jamaica — In a significant development within the Caribbean financial sector, Cornerstone Financial Holdings Limited has achieved two major strategic milestones. The company announced Tuesday that its subsidiary, Barita Investments Limited, has received full regulatory authorization to acquire JN Fund Managers Limited (JNFM) while simultaneously establishing a comprehensive partnership with Proven Management Limited.

    Barita, a publicly-traded investment banking and asset management entity, obtained formal no-objection from regulators to purchase the entire issued share capital of JNFM from Jamaica National Group. This acquisition represents a transformative move that will propel Barita’s assets under management beyond the $500 billion threshold. The transaction is projected to substantially expand the firm’s client portfolio while significantly enhancing its capabilities in pension and institutional asset management services.

    Concurrently, Cornerstone revealed it had established a strategic alliance in December with Proven Management Limited, the investment management arm of Proven Group Limited. This partnership creates a powerful synergy by merging Cornerstone’s established financial platform with Proven’s diverse investment portfolio spanning financial services, real estate, and private capital investments throughout the Caribbean and North American markets.

    Mark Myers, Director of Cornerstone and Chairman of Barita, emphasized the combined entity now oversees approximately $1 trillion in assets and invested capital across multiple sectors including banking, asset management, real estate, and financial technology. Myers attributed these achievements to the visionary leadership of Founder and Group CEO Paul Simpson, CD, whose disciplined execution and unwavering integrity were described as instrumental in building a platform designed to deliver intergenerational value.

    The group detailed its remarkable expansion trajectory since its establishment in 2013, which includes strategic acquisitions of MF&G Trust and Finance—now operating as Cornerstone Trust & Merchant Bank—and obtaining a controlling interest in Barita in 2018. Barita has successfully raised approximately $34.5 billion in permanent capital since 2019, facilitating its strategic pivot into investment banking and wealth management services.

    Cornerstone’s diversified portfolio currently encompasses five core business divisions: investment banking, alternative investments, wealth and asset management, banking services, financial technology, and real estate development. The group reported robust financial health with total shareholders’ equity reaching approximately $548 million as of September 2025.

    Myers expressed gratitude to various stakeholders including the Government of Jamaica, founding shareholders, funding partners, and the boards of both JN Financial Group and Proven. He additionally acknowledged the dedication of management and staff across the organization, as well as clients whose continued trust has been fundamental to the group’s success. Myers further indicated that an additional strategic partnership aimed at further diversification is anticipated to be announced in the near future.

  • Bill Express,Trans Jamaican Highway launch payment partnership

    Bill Express,Trans Jamaican Highway launch payment partnership

    KINGSTON, Jamaica — A transformative partnership between GraceKennedy Payment Services (GKPS) and TransJamaican Highway has revolutionized toll payment accessibility across Jamaica. The collaboration enables motorists to replenish their T-Tag accounts through all Bill Express locations nationwide, significantly expanding payment options for highway users.

    The strategic alliance introduces near real-time payment processing for commuters utilizing the Portmore, Spanish Town, Old Harbour, and May Pen highway segments. Terence Slater, Regional Manager of GKPS, characterized the initiative as “convenience redefined” for TransJam Highway users, emphasizing the unprecedented accessibility through Bill Express’s extensive network spanning Western Union outlets, post offices, pharmacies, and supermarkets.

    Transaction efficiency stands as a cornerstone of the new service. Customers simply require the 16-character identifier from their T-Tag sticker or swipe card to complete top-ups, with immediate confirmation provided for each transaction. The system ensures lane access readiness within 10 minutes of payment processing, streamlining the commuter experience.

    The partnership assumes particular significance following Hurricane Melissa’s devastating impact on alternative routes. TransJamaican Highway Managing Director Ivan Anderson noted the toll road’s critical role in restoring normalcy, stating the collaboration “delivers reliable access that keeps Jamaica moving” during this period of heightened connectivity needs.

    Margaret Campbell, CEO of GraceKennedy Money Services, affirmed the company’s commitment to “meeting Jamaicans where they are,” highlighting the initiative’s alignment with innovation and service excellence principles. The rollout will further expand in coming weeks through additional Bill Express channels, offering motorists progressively more convenient account management solutions.

  • Central Bank’s lawsuit against Lawrence Duprey, others starts

    Central Bank’s lawsuit against Lawrence Duprey, others starts

    A landmark legal proceeding spanning over a decade has commenced in Trinidad and Tobago’s High Court, targeting the estate of late financial magnate Lawrence Duprey and five co-defendants over the catastrophic collapse of CL Financial Group. The civil lawsuit, initiated by the Central Bank and Colonial Life Insurance Company (Clico), alleges systematic financial misconduct that precipitated one of the Caribbean’s most devastating corporate failures.

    Justice Robin Mohammed is presiding over the complex case at Port of Spain’s Waterfront Judicial Centre, where plaintiffs seek billions in damages from Duprey’s estate, former corporate secretary Gita Sakal, and ex-executive Andre Monteil, along with affiliated entities Dalco Capital Management and Stone Street Capital Ltd. The defendants face allegations of orchestrating a scheme where policyholder funds were systematically diverted to finance personal luxuries and private business ventures rather than being safeguarded for investors.

    According to court documents, Clico operated with “grossly deficient” governance structures, enabling the conglomerate’s leadership to misuse insurance deposits and mutual fund investments. The 2009 collapse revealed staggering liabilities exceeding $12 billion, forcing government intervention through emergency powers under the Central Bank Act. Subsequent bailouts consumed approximately $5 billion in taxpayer funds initially, with outstanding obligations reportedly reaching $13 billion as recently as the 2025 budget address by Finance Minister Colm Imbert.

    Testimony from former Central Bank governor Ewart Williams highlighted early warning signs, including a 2005 regulatory investigation that identified compliance issues within Clico’s operations. Forensic accounting analysis by Ernst & Young concluded that Clico Investment Bank would likely have been declared insolvent as early as 2007. Williams’ cross-examination revealed contentious discrepancies in statutory fund calculations, with the Central Bank reporting a $600 million deficit while Clico’s records showed a $500 million surplus for the same period.

    The trial continues with expectations of prolonged proceedings as plaintiffs attempt to untangle the complex financial architecture that once controlled over $100 billion in assets across 72 international companies spanning banking, energy, and real estate sectors.

  • KFC starts the party for Carnival

    KFC starts the party for Carnival

    In a strategic brand integration move, KFC has officially launched its ambitious ‘KRUNCHNIVAL’ campaign for Carnival 2026, positioning itself as the definitive culinary and cultural partner for Trinidad and Tobago’s premier national festival. The fast-food giant unveiled this multi-platform initiative on January 5th at Brian Lara Promenade in Port of Spain, opposite its flagship store location.

    The campaign’s centerpiece features an unprecedented musical collaboration between soca sensations Yung Bredda (Akhenaton Lewis) and Destra Garcia, who have reimagined the classic Carnival anthem ‘It’s Carnival’ with contemporary energy. This revitalized track serves as the sonic foundation for KRUNCHNIVAL, blending generations of musical heritage with modern production values.

    Roger Rambharose, Vice President of KFC and Pizza Hut Trinidad and Tobago, characterized the campaign as a deliberate market disruption strategy. ‘Our approach to Carnival season has always been distinctive and impactful,’ Rambharose stated. ‘KRUNCHNIVAL embodies our commitment to delivering exceptional energy, authentic flavor profiles, and tangible customer value while celebrating Carnival through bold, culturally relevant expressions.’

    Marketing lead Stacey Ryan elaborated on the campaign’s philosophical underpinnings: ‘KRUNCHNIVAL emerged from recognizing that Carnival transcends calendar dates—it represents a cultural consciousness that permeates movement, culinary experiences, celebrations, and social connections. We’re not merely participating in Carnival; we’re redefining how brands can authentically integrate with cultural phenomena.’

    The comprehensive campaign will feature limited-edition menu innovations, exclusive Carnival-themed packaging, in-store experiential activations, and strategic digital engagement across social platforms. Consumers can anticipate seasonal promotions and special offerings throughout the Carnival period, with the KFC Trinidad and Tobago mobile application serving as the primary access point for updates and exclusive content.

    This brand initiative represents KFC’s most substantial investment in Carnival integration to date, combining musical partnerships, influencer collaborations, and visual branding transformations across physical and digital landscapes.