Carib Scope

分类： business

  • New $700m Baha Mar expansion will bring 500 permanent jobs

    New $700m Baha Mar expansion will bring 500 permanent jobs

    NASSAU, BAHAMAS – Baha Mar has officially commenced construction on a transformative $700 million beachfront resort development following a groundbreaking ceremony attended by government officials and industry leaders. The ambitious project, situated on the former Meliá Nassau Beach site along Cable Beach, represents one of the Caribbean’s most significant hospitality investments.

    Designed by the globally acclaimed architectural firm Foster + Partners, the 12-acre luxury development will feature 345 premium guest rooms and 77 exclusive branded residences. This expansion will substantially increase Baha Mar’s room inventory while reinforcing its status as a premier global luxury destination.

    During the ceremonial event, Baha Mar President Graeme Davis emphasized the project’s significance as a model of public-private partnership. “This investment exceeding $700 million demonstrates what becomes possible when government and private sector align with a shared vision for sustainable tourism growth and belief in The Bahamas’ future,” Davis stated.

    Prime Minister Philip “Brave” Davis reflected on the resort’s contentious history, acknowledging former Prime Minister Perry Christie’s perseverance through initial skepticism and political criticism. The Prime Minister revealed that the construction phase alone is projected to support over 1,000 jobs, with majority positions reserved for Bahamian workers. Upon completion in 2029, the resort expects to employ approximately 1,400 associates across various departments.

    However, Baha Mar officials provided slightly more conservative employment figures, projecting over 400 construction positions and 500 operational roles that will complement the existing workforce of 5,300 associates. These positions will span hotel operations, culinary services, wellness programming, event management, guest services, and information technology.

    The new property will boast extensive amenities including a 16,000 square foot spa and fitness center, four signature dining venues featuring locally sourced seafood, and over 35,000 square feet of flexible event space including grand and junior ballrooms capable of hosting international conferences and local celebrations.

    Deputy Prime Minister and Minister of Tourism Chester Cooper highlighted the development’s strategic importance, noting that Baha Mar has significantly strengthened the nation’s tourism offering. Early indicators show visitor arrivals for early 2026 are projected to exceed previous year figures by at least eight percent.

    The project represents a substantial revision from initial estimates, having doubled from the original $350 million projection following comprehensive review and planning enhancements. The development will be positioned between the existing SLS Baha Mar and Rosewood Baha Mar properties, creating an integrated luxury resort corridor along Cable Beach.

  • GCT to be imposed on digital services and intangibles supplied from overseas – Williams

    GCT to be imposed on digital services and intangibles supplied from overseas – Williams

    KINGSTON, Jamaica—Jamaica’s government is introducing a landmark tax reform targeting international digital services, projected to generate substantial revenue starting in fiscal year 2026/27. Finance Minister Fayval Williams announced the General Consumption Tax (GCT) expansion during a House of Representatives session, highlighting its role in modernizing the nation’s tax infrastructure.

    The new taxation framework will apply to digital services and intangible products supplied by foreign providers but consumed within Jamaican territory. This strategic move addresses revenue shortfalls exacerbated by Hurricane Melissa while creating a more equitable playing field for domestic businesses competing with overseas digital providers.

    Minister Williams emphasized that the reform aligns with international ‘destination principle’ standards, where taxation occurs based on consumption location rather than supplier jurisdiction. ‘Digital services constitute an expanding segment of household and business consumption patterns,’ Williams stated. ‘The current system creates competitive imbalances as foreign providers without physical presence avoid taxation obligations.’

    The implementation timeline indicates partial revenue collection beginning Q4 2026/27 with full operationalization by calendar year 2027. Initial projections estimate $300 million in first-year revenue, escalating to $4.2 billion in subsequent fiscal periods. This revenue stream will help fund public services and offset hurricane-related economic impacts while ensuring foreign digital providers contribute equitably to Jamaica’s tax base.

  • CIBC Caribbean launches online business account opening in Jamaica

    CIBC Caribbean launches online business account opening in Jamaica

    KINGSTON, Jamaica — CIBC Caribbean has launched a groundbreaking digital onboarding platform specifically designed for small businesses across Jamaica and several Eastern Caribbean nations. This initiative represents a significant advancement in financial accessibility, enabling entrepreneurs to establish business banking accounts through a completely remote process without requiring physical branch visits.

    The newly implemented Business Banking Digital Client Onboarding (DCO) system streamlines the account creation process by allowing business owners to electronically submit required documentation, verify critical information, and complete all necessary compliance checks through a secure digital interface. Jamaica stands among the pioneer markets for this deployment, alongside Antigua and Barbuda, Barbados, St Kitts and Nevis, and St Lucia. CIBC Caribbean has announced plans to expand this digital service to its remaining Caribbean operational territories within the upcoming months.

    Deepa Boucaud, Executive Director for Personal and Business Banking at CIBC Caribbean, emphasized that the platform replaces traditional paper-intensive procedures with streamlined digital interactions. This transformation significantly reduces account processing times and simplifies regulatory compliance obligations. The system incorporates an innovative financial activity capture tool that permits new or early-stage businesses to submit estimated revenue and expenditure information electronically. This feature particularly benefits low-risk sole proprietors by minimizing the requirement for formal financial statements during initial stages.

    Additionally, the platform’s documentation requirements are dynamically adapted to correspond with the specific regulatory frameworks of each jurisdiction where CIBC operates. The bank anticipates that this enhanced digital onboarding process will substantially improve data integrity, strengthen anti-money laundering protocols, and accelerate overall processing efficiency. CIBC Caribbean, which maintains operations across 10 Caribbean countries with approximately US$13 billion in assets, continues to demonstrate its commitment to digital innovation in regional banking services.

  • Pizza Hut Jamaica to open $180 million restaurant in Portmore

    Pizza Hut Jamaica to open $180 million restaurant in Portmore

    KINGSTON, Jamaica — Restaurants of Jamaica (ROJ), the national operator of Pizza Hut franchises, has announced a major expansion initiative with a $180 million (JMD) investment, highlighted by the launch of a new restaurant in Cumberland, Portmore. The new establishment, slated to commence operations in March, will mark the brand’s sixteenth outlet nationwide and its second within the Portmore community. This development also positions it as the third Pizza Hut location in the parish of St. Catherine.

    According to Mark Myers, Managing Director of ROJ, this strategic move is an integral component of the company’s aggressive growth blueprint. The strategy encompasses planned new openings both within the Kingston Metropolitan Area and other emerging economic hubs across Jamaica. Myers emphasized the company’s sustained confidence in the robustness and potential of the local market, underscoring a committed focus on driving economic growth and generating employment opportunities.

    The Cumberland outlet will notably become the eleventh Pizza Hut establishment situated outside the parishes of Kingston and St. Andrew. This expansion is strategically designed to enhance customer accessibility and convenience by embedding the brand more deeply into both residential neighborhoods and commercial districts. ROJ’s substantial investment is presented as a direct response to consistent consumer demand and reflects a highly optimistic, long-term perspective on the viability and continued growth of the Jamaican market.

  • Tarieven drukken Colombiaanse bloemenindustrie

    Tarieven drukken Colombiaanse bloemenindustrie

    Colombia’s floral sector, ranking as the world’s second-largest flower exporter, successfully delivered millions of roses to the United States just in time for Valentine’s Day celebrations. However, beneath this seasonal success story lies an industry grappling with mounting economic pressures that threaten its long-term viability.

    Between January 15 and February 9, Colombia shipped approximately 65,000 tons of fresh flowers to the U.S. market. This Valentine’s Day period typically represents about 20% of annual sales for a sector that serves as the primary supplier to American consumers, according to industry association Asocolflores.

    The festive demand coincides with significant challenges, including a 10% U.S. import tariff imposed in April last year as part of broader trade measures by the Trump administration. This is particularly impactful given that the United States accounts for approximately 80% of Colombia’s flower exports.

    Additional pressures include a peso that has strengthened nearly 12% against the dollar over the past year and a 23% minimum wage increase, both of which reduce competitiveness and squeeze profit margins. José Antonio Restrepo, manager of Ayure SAS Eclipse Flowers near Bogotá, warns that without changes to these economic conditions, the sector could face massive layoffs and closures starting in July.

    Flower cultivation represents Colombia’s most labor-intensive agricultural sector, providing formal employment for about 240,000 people across 10,500 hectares of land. This year, the fact that Valentine’s Day falls on a Saturday presents additional challenges, as consumers traditionally send flowers primarily to offices during weekdays.

    The pressure extends beyond Colombia. Ecuador, the world’s largest flower exporter, faces similar issues with rising production costs and trade barriers. Kenya, a major supplier of cut flowers to the European market, likewise struggles with increasing costs and stricter import regulations. These developments create global pressure on the floral trade industry, which remains closely tied to seasonal holidays and consumer trends.

    Despite these challenges, the atmosphere at nurseries like Ayure SAS Eclipse Flowers remains positive. Workers such as Susana Vega find satisfaction in contributing to bringing joy to people, particularly women and mothers, during this important holiday.

  • St Kitts welcomes three scheduled and one unscheduled cruise ship on Tuesday – WIC News

    St Kitts welcomes three scheduled and one unscheduled cruise ship on Tuesday – WIC News

    The Caribbean nation of St Kitts and Nevis experienced an exceptional surge in maritime tourism on Tuesday, February 10, 2026, as Port Zante in Basseterre accommodated four cruise vessels—three scheduled arrivals plus an unexpected visit from Royal Caribbean International’s Jewel of the Seas. This unscheduled docking, originally destined for St Croix in the U.S. Virgin Islands, demonstrated the island’s adaptive port infrastructure and growing appeal as a premier Caribbean destination.

    The Jewel of the Seas brought 2,361 passengers who explored diverse attractions across the island. Tourists immersed themselves in cultural experiences in Basseterre, visited historical landmarks including Brimstone Hill Fortress and Fairview Great House & Botanical Gardens, and engaged in aquatic adventures such as snorkeling with sea turtles and sailing excursions to neighboring Nevis. Popular beach destinations like Cockleshell Bay, South Friars Bay, and Turtle Beach also saw significant visitor traffic.

    The day’s scheduled arrivals included AIDAblu (carrying 2,298 passengers from St Maarten), Viking Sea (906 passengers from St Thomas), and Oceania Nautica, which marked its inaugural visit to St Kitts with 609 passengers from Tortola. The latter received an official welcome from port authorities including SCASPA CEO Adeola Moore and COO Calvin Duggins, alongside representatives from the St Kitts Tourism Authority and shipping agent Delisle Walwyn & Co.

    This remarkable maritime activity contributed to a three-day tourism boom between February 8-10, 2026, with ten ships bringing 18,425 passengers to St Kitts. The successful handling of both scheduled and unscheduled arrivals underscores the nation’s operational readiness and strategic positioning within the competitive Caribbean cruise industry.

  • GO-Invest says brokered almost GY$160 billion in foreign investments last year

    GO-Invest says brokered almost GY$160 billion in foreign investments last year

    Georgetown, Guyana – The Guyana Office for Investment (GO-Invest) has announced a landmark achievement in the nation’s economic development, reporting GY$157 billion in newly facilitated investments for the year 2025. This substantial figure contributes to a five-year cumulative total exceeding GY$1 trillion, marking a significant milestone in the country’s strategic diversification efforts beyond its oil sector.

    Dr. Peter Ramsaroop, Chief Investment Officer of GO-Invest, provided a detailed breakdown of the 2025 investment portfolio, revealing robust international confidence alongside strong domestic participation. Foreign direct investment accounted for GY$86 billion, while local investments reached GY$64 billion, with joint ventures contributing an additional GY$5.9 billion. This investment distribution demonstrates a balanced economic growth model engaging both international and domestic stakeholders.

    The investment agency emphasized that these capital inflows have accelerated economic diversification and regional development across multiple non-oil sectors. Between 2020 and 2025, GO-Invest executed more than 180 investment agreements that secured commitments for over 32,000 direct and indirect jobs, though the agency acknowledged that not all investments in Guyana necessarily pass through their office.

    Substantial investment activity has been recorded across diverse sectors including agriculture, agro-processing, manufacturing, tourism, logistics, construction, housing, Information Communications Technology (ICT), energy services, health care, and education. These strategic investments have generated sustained employment, expanded local enterprise capabilities, strengthened export capacity, and anchored growth in communities across all regions of Guyana.

    Dr. Ramsaroop highlighted the government’s commitment to continuing this accelerated investment trajectory under President Mohamed Irfaan Ali’s Vision 2030 framework, ensuring that economic growth remains broad-based, inclusive, and anchored in long-term national development priorities. “The people of Guyana can be confident: modernized diversification is real, the jobs are real, and the future we are building together is real,” he affirmed.

    The reported investment figures and sectoral distribution provide tangible evidence of Guyana’s successful economic transformation strategy, positioning the country for sustainable growth beyond hydrocarbon resources.

  • Dominican tourism breaks January record with 1.2 million visitors

    Dominican tourism breaks January record with 1.2 million visitors

    The Dominican Republic’s tourism sector has achieved an unprecedented milestone, recording its strongest January performance in history with over 1.2 million visitors marking a spectacular start to 2026. According to Tourism Minister David Collado, who unveiled the remarkable statistics during a presentation at Pontifical Catholic University Madre y Maestra (PUCMM), the country welcomed 1,219,606 tourists during the first month of the year.

    This figure represents a substantial 5.5% increase compared to January 2025 and an extraordinary 61.7% surge above pre-pandemic levels recorded in 2019. The data reveals particularly impressive growth in air arrivals, with 825,847 visitors arriving by air—an 8.7% year-on-year increase. Meanwhile, cruise tourism demonstrated explosive growth, with 393,759 passengers arriving by sea, marking a 21% increase from 2025 and a staggering 152% surge from 2019 levels.

    Minister Collado emphasized the historical significance of these numbers, stating: “This is the first time in our nation’s history that we have exceeded 1.2 million visitors in January, confirming the extraordinary momentum of Dominican tourism.”

    The United States remained the dominant source market, contributing 35% of all visitors, followed by Canada (24%), Argentina (8%), Colombia (5%), France (3%), with the United Kingdom and Italy each accounting for 2%. Punta Cana International Airport handled the majority of arrivals at 63%, followed by Las Américas (18%), Cibao (9%), Puerto Plata (6%), with La Romana and Samaná accounting for 2% and 1% respectively.

    Supporting these arrival numbers, hotel occupancy rates surpassed 82% throughout January, while tourist satisfaction ratings reached an impressive 4.4 out of 5 points. The aviation sector also showed robust performance with 6,789 flights recorded and an average occupancy rate of 75%, indicating sustained growth across all tourism indicators.

  • Melkcentrale wijzigt naam nieuw product na maatschappelijke kritiek

    Melkcentrale wijzigt naam nieuw product na maatschappelijke kritiek

    In a swift reversal following public criticism, Melkcentrale NV has announced it will rename its newly launched dairy product originally called ‘Monchémel’ after CEO Monché Atompai. The product will now be marketed under the name ‘Tropimel’, with only the first 100-unit batch retaining the director’s namesake branding.

    The company revealed the strategic pivot through its official Facebook page just one day after the product’s unveiling. According to the statement, attaching the CEO’s name to the initial limited edition serves as a symbolic gesture recognizing Atompai’s dedication and leadership within the organization.

    During Tuesday’s press conference, management had presented the product exclusively as Monchémel without disclosing the planned name change or limited production scale. Executives initially claimed staff had collectively chosen the name as gratitude for their director. ‘The entire staff selected this name as thanks to our director. He deserves it,’ management stated during the presentation.

    CEO Atompai expressed surprise and honor during the event, noting: ‘They indicated it relates to how I’ve worked recently. They say I came as a hero, which is why they chose to give such a name to a product.’

    The subsequent clarification emphasizes that Tropimel’s introduction marks a significant corporate milestone. Melkcentrale’s statement elaborated: ‘Linking the first batch’s name to our director symbolizes our appreciation for the hard work, dedication, and team spirit characterizing our organization.’

    Following the initial 100 units, all subsequent production will carry the Tropimel branding when the product launches commercially on February 11th.

  • GY$25 billion subsidy for GPL

    GY$25 billion subsidy for GPL

    The Guyanese government has announced a substantial GY$25 billion (Guyanese dollars) subsidy for the state-owned power utility Guyana Power and Light Inc. (GPL) to prevent electricity price hikes for consumers amid rising global fuel costs. The decision was formally disclosed by Public Utilities Minister Deodat Indar during Tuesday’s National Assembly session while reviewing the 2026 national budget expenditures.

    Minister Indar explained that GPL’s financial planning operates on a breakeven basis when fuel prices remain at approximately US$70 per barrel. With current prices significantly exceeding this threshold, the utility faces substantial operational losses without government intervention. “For every dollar increase in fuel prices beyond our breakeven point, GPL incurs an additional GY$543 million in costs due to the massive volume of fuel required for power generation,” Indar stated.

    The minister revealed that GPL’s annual fuel expenditure reaches GY$47 billion, with 93% allocated to Heavy Fuel Oil and the remainder to Light Fuel Oil. These fuel costs represent the dominant component of the company’s generation expenses. The government’s subsidy strategy ensures that consumers will not bear the burden of these increased operational costs.

    In related energy developments, Minister Indar reaffirmed government plans to extend electricity supply from the forthcoming gas-to-energy plant to Linden and sections of the Linden-Soesdyke Highway, representing a significant expansion of the national power infrastructure.