Carib Scope

分类： business

  • NORBROOK’S PANAMANIAN PLAY

    NORBROOK’S PANAMANIAN PLAY

    In a significant development for Panama’s fast-food sector, Platinum Brands S.A., a portfolio company of Norbrook Equity Partners Limited, has unveiled ambitious plans to launch twelve new KFC outlets nationwide. This strategic expansion, representing a capital investment exceeding $15 million, will substantially increase the brand’s presence from 46 to 58 locations.

    The expansion follows Platinum Brands’ acquisition of the KFC and Dairy Queen franchises from Franquicias Panameñas, S.A. in June 2024. After a year of intensive operational assessment and strategic restructuring, the company has secured prime locations for its growth initiative. According to Khary Robinson, Founder and Executive Chairman of Norbrook Equity Partners, the initial phase focused on strengthening business fundamentals—infrastructure, processes, and human resources—before pursuing aggressive growth. Robinson emphasized that this foundational work has positioned the venture as Panama’s fastest-growing quick-service restaurant in terms of same-store sales.

    The company has already successfully inaugurated three new restaurants in Chorrera Center, David Center, and Algarrobos, all reporting robust customer traffic and strong initial sales performance. This forms part of a broader vision to expand the combined KFC and Dairy Queen portfolio to 100 locations by 2028. The Dairy Queen brand currently operates 21 stores within the country.

    Leadership on the ground, led by CEO Juan Carlos Andrade and CFO Christian Sturla, has been instrumental in executing this measured growth strategy. Andrade highlighted that the mandate prioritized rebuilding the operational foundation over rapid expansion, with significant investments directed toward service culture, efficiency, product consistency, store modernization, and leadership development.

    The franchises have been recognized as top performers regionally, demonstrating strong same-store sales growth, improved guest satisfaction metrics, and enhanced operational efficiency. Enhancements are also underway for the Dairy Queen brand, with new locations planned for the future.

    This expansion is financed through a combination of equity and debt facilities provided by JMMB Bank (Jamaica) Limited and BAC International Corporation. Notably, JMMB Bank had previously extended a $3 million financing facility in June 2024 to facilitate the initial acquisition.

    Ownership of Platinum Brands is structured with Norbrook Restaurant Holdings Limited (a St. Lucian entity) holding a 60% majority stake. The remaining shares are distributed among Sygnus Deneb Investments Limited (20%), the Henriquez family (10%), and FirstRock Global Holdings Limited (10%).

    This investment represents the latest activity within Norbrook’s diversified private equity portfolio, which also includes recent ventures such as the rebuilding of Pure National Limited’s ice manufacturing plant, the acquisition of a majority stake in California-based Mighty Pilates by Express Fitness Limited, and the divestiture of interests in Grupo Alaska S.A. by joint venture Grupo Frontera Limited. Additionally, Norbrook’s publicly listed subsidiary, Mailpac Group Limited, continues to show strong financial performance following its acquisition of MyCart Quick Limited.

  • Businesses in main shopping district say tourists not spending

    Businesses in main shopping district say tourists not spending

    Barbados is experiencing an unprecedented surge in cruise tourism with projections pointing toward a record-breaking winter season, yet Bridgetown’s main retail district reports disappointing foot traffic and limited economic benefits from the influx of visitors.

    The Barbados Hotel and Tourism Association (BHTA) announced in June that nearly 500 cruise ships are scheduled to dock at the Port of Bridgetown between late 2025 and early 2026. Chairman Javon Griffith revealed during the association’s annual meeting that cruise arrivals are expected to increase by 22%, reaching approximately 850,000 passengers compared to 695,000 the previous season.

    Despite these impressive numbers, Broad Street retailers report a stark disconnect between national tourism statistics and their daily reality. Hiranand Thani, owner of The Royal Shop, expressed frustration that the increased cruise activity hasn’t translated into meaningful business for downtown merchants.

    “We’re glad to have the tourists, but we’re not seeing traffic on Broad Street,” Thani lamented. He noted that visitors are increasingly bypassing the shopping district in favor of beach activities along the boardwalk, which generates significantly less foreign exchange revenue than retail shopping.

    Thani emphasized that while beach spending on items like beverages contributes minimally to the economy, retail shopping represents a substantial source of foreign exchange earnings. He called for more decisive action to attract tourists to the commercial district, stating that current efforts need to be intensified “two extra miles” to make a meaningful difference.

    The challenge extends beyond tourist behavior to structural issues within Bridgetown itself. Eddy Abed, Managing Director of Abed’s and chairman of the Bridgetown Revitalisation Committee, explained that the departure of approximately 3,000 government jobs from the city two decades ago created a persistent foot traffic problem that remains unresolved.

    “There’s a reason why Broad Street is half empty,” Abed noted. “The branded stores just don’t see enough tourists there that it would warrant them to open a store.” He revealed that many Bridgetown businesses actually benefit indirectly by supplying hotels and restaurants rather than selling directly to visitors.

    Martin Bryan, Managing Director of F W Woolworth, reported similar experiences, noting that while cruise passengers do visit his store, their spending remains minimal. “A key ring, maybe buy a T-shirt, but we don’t see a lot of spend from any cruise ship passengers,” Bryan observed. He attributed this pattern to onboard shopping facilities and cruise lines directing passengers to shop in other islands with cheaper prices.

    Industry experts suggest that planned developments including new hotels and mixed-use projects may eventually change Bridgetown’s dynamics, but significant improvements are still four to five years away. In the interim, stakeholders emphasize the need for enhanced entertainment, cultural attractions, and dining options to make the capital city a more compelling destination for visitors throughout the year.

  • Former telecoms company accountant arrested for GY$153 million fraud

    Former telecoms company accountant arrested for GY$153 million fraud

    Guyanese authorities have apprehended a former senior accounting executive in connection with a massive financial fraud case totaling GY$153.9 million (approximately US$735,000) against a major telecommunications company. The Guyana Police Force confirmed the arrest on Wednesday, December 24, 2025.

    The suspect, identified as 37-year-old Quincy Baird from Herstelling, East Bank Demerara, faces investigations for larceny by clerk or servant. According to police statements, the alleged financial misconduct occurred over an extended period between July 1, 2021, and February 18, 2025.

    Baird’s professional background, as documented on his LinkedIn profile, reveals previous employment as Accounts Payable, Treasury and Tax Manager at GTT (now operating as One Communications). His career history also includes positions at a prominent accounting firm and a corporate group that operates a fast-food establishment in central Georgetown.

    The arrest operation was conducted by detectives from the Criminal Investigation Department Headquarters on Tuesday, December 23, 2025, at approximately 4:33 PM. Law enforcement officials contacted Baird at his East Bank Demerara residence regarding the allegations before taking him into custody.

    “The suspect was formally informed of the allegations against him, arrested, and escorted to CID Headquarters where he remains in custody pending further investigation,” the police force stated in their official release. The case represents one of the most significant corporate fraud investigations in recent Guyanese business history.

  • CARICOM Private Sector Reaffirms CSME Commitment

    CARICOM Private Sector Reaffirms CSME Commitment

    In a significant show of regional solidarity, the Caribbean private sector has powerfully reinforced its dedication to the CARICOM Single Market and Economy (CSME) framework. A formal declaration issued on December 23rd by the CARICOM Private Sector Organization, alongside key partners, underscores the enduring value of this economic integration initiative.

    The statement highlights the CSME’s proven track record in delivering substantial advantages to member states, including a notable expansion in intra-regional commerce, the fortification of critical supply chains, and sustained job creation across the Caribbean community. The private sector coalition explicitly endorsed the foundational vision established by CARICOM leaders in the historic 1989 Grand Anse Declaration, asserting its continued relevance amidst contemporary global economic volatilities.

    Emphasizing the principle of collective strength, the announcement serves as a pledge from regional business groups to intensify collaboration with national governments. This partnership aims to accelerate the complete implementation of the CSME’s provisions and bolster economic resilience against external shocks. The timing of the statement, coinciding with the holiday period, also carried a message of unity and goodwill directed toward all citizens within the CARICOM region.

  • Dollar op weg naar grootste jaarverlies sinds 2017

    Dollar op weg naar grootste jaarverlies sinds 2017

    The US dollar is experiencing sustained pressure and appears poised to record its most significant annual decline since 2017, with analysts anticipating potential further depreciation in the coming months. This downward trajectory persists despite recent robust US growth indicators, as investors increasingly expect the Federal Reserve to implement additional interest rate cuts throughout 2026 while other major central banks maintain their current policy stances.

    Financial markets have responded decisively to this anticipated policy divergence. The euro and British pound both reached three-month highs against the dollar, trading at approximately $1.180 and $1.352 respectively. The dollar index, which measures the currency’s performance against a basket of major counterparts, fell to a 2.5-month low of 97.767. Year-to-date, the greenback has depreciated nearly 9.8%, marking its most substantial annual decline in eight years. Should this weakness persist through the final trading week, 2025 could represent the dollar’s worst performance since 2003.

    This year’s currency volatility has been exacerbated by ongoing trade tensions and unpredictable policy influences from the Trump administration, which have simultaneously raised concerns about the Federal Reserve’s operational independence. In contrast, the euro has appreciated over 14% this year, positioning itself for its strongest annual performance in more than two decades.

    The European Central Bank maintained its current interest rate structure last week while upgrading growth projections, effectively ruling out near-term policy easing. Market pricing now indicates minimal expectations for ECB rate increases in 2026, mirroring similar projections for Australia and New Zealand. Both Antipodean currencies have strengthened considerably this year, with the Australian dollar reaching a three-month high of $0.6710 and the New Zealand dollar achieving a 2.5-month peak at $0.58475.

    The British pound has gained over 8% year-to-date as markets price in at least one Bank of England rate cut during the first half of 2026, with approximately 50% probability assigned to a second reduction later in the year.

    Smaller European currencies with traditionally strong fiscal positions have outperformed notably. The dollar has declined 12% against the Norwegian krone, 13% against the Swiss franc (which traded at 0.7865 francs Wednesday), and 17% against the Swedish krona, which reached its lowest level since early 2022 at 9.167 kroner.

    Market attention remains particularly focused on the Japanese yen, where traders are monitoring potential intervention by Japanese authorities to stem the currency’s decline. Finance Minister Satsuki Katayashi stated Tuesday that Japan retains readiness to intervene against excessive yen movements—the strongest verbal warning to date. The yen subsequently appreciated 0.3% to 155.83 per dollar on Wednesday following previous day’s 0.5% decline.

    Despite the Bank of Japan implementing its long-awaited rate increase last week, Governor Kazuo Ueda’s cautiously dovish messaging disappointed market participants hoping for more aggressive tightening measures. With year-end liquidity conditions thinning, some investors anticipate potential official buying operations to support the yen, potentially creating favorable conditions for intervention by Japanese authorities.

  • CARICOM Private Sector Reaffirms Support for Single Market

    CARICOM Private Sector Reaffirms Support for Single Market

    In a significant show of regional solidarity, private sector organizations across the Caribbean have collectively reaffirmed their commitment to the CARICOM Single Market and Economy (CSME). The CARICOM Private Sector Organization (CPSO) emphasized the critical importance of regional economic integration during a period of heightened global economic instability.

    In an official statement released Tuesday, the CPSO highlighted that the CSME framework has generated substantial advantages for both corporations and workers throughout the Caribbean community. These benefits include notable expansion in intra-regional commerce, reinforced supply chain networks, and enhanced foreign exchange revenues for participating nations.

    The declaration received endorsement from prominent business organizations across multiple CARICOM member states, including Belize, Jamaica, Trinidad and Tobago, Guyana, Barbados, Suriname, and the Organization of Eastern Caribbean States Business Council.

    The CPSO simultaneously addressed the region’s international economic relationships, noting that the United States continues to serve as CARICOM’s principal collective trading partner externally. From a commercial perspective, the organization characterized these international partnerships as complementary rather than competitive with regional integration efforts.

    This reaffirmation of support emerges against a backdrop of renewed discussions regarding the velocity and efficacy of regional consolidation. The timing is particularly notable following recent diplomatic tensions, including Trinidad and Tobago’s Prime Minister Kamla Persad-Bissessar publicly distancing her government from a CARICOM statement concerning U.S. visa restrictions imposed on Dominica and Antigua & Barbuda.

    The CPSO statement concluded with a powerful call for strengthened collaboration among member nations, asserting that the maxim ‘stronger together’ holds exceptional relevance in the current global climate. The organization further emphasized that the CARICOM and CSME frameworks remain indispensable for collective sustainability in an increasingly fragmented world economy.

  • Digital skills for 2026 side hustle

    Digital skills for 2026 side hustle

    As the Christmas season reaches its climax on December 25th, countless individuals share a common silent resolution: achieving a fundamentally different financial position by next year’s holiday season. The promising reality is that transforming one’s income trajectory in 2026 requires neither academic重返 nor career abandonment nor mastering highly technical disciplines.

    The contemporary digital landscape presents unprecedented opportunities through marketable skills that can be acquired within weeks of dedicated effort. These competencies can evolve into lucrative side hustles generating substantial revenue streams, including foreign exchange earnings. Artificial intelligence, no-code platforms, and global freelance marketplaces have dramatically lowered entry barriers, though increased competition demands specialization in delivering concrete outcomes rather than offering generic services.

    Short-form video editing and content repurposing emerge as premier skills, addressing the massive demand from brands and creators who produce long-form content but lack capacity to transform it into platform-optimized TikToks, Reels, Shorts, or LinkedIn clips. Mastery involves identifying pivotal moments, adding captions, formatting for diverse platforms, and maintaining consistent delivery—all achievable without on-camera presence or expensive software.

    User-Generated Content (UGC) creation represents another high-potential skill, focusing on authentic, influencer-style videos for brand advertisements and organic social content. Unlike traditional influencing, UGC prioritizes genuineness over follower counts and production perfection. With smartphone cameras, natural lighting, and storytelling techniques, individuals can rapidly generate online income.

    Website construction through no-code platforms like WordPress, Wix, and Shopify addresses persistent business needs for conversion-optimized landing pages. The value proposition lies not in tool proficiency but in execution speed and effectiveness. Similarly, AI-assisted website building utilizing tools like Loveable or Bolt AI enables rapid site generation and deployment, positioning AI as collaborative assistant rather than replacement.

    Marketing automation setup through Zapier, Make, Mailchimp, ConvertKit, and Calendly addresses manual task inefficiencies by connecting systems for automated email sequences, lead follow-ups, and client onboarding. This service essentially sells recovered time—a benefit businesses rarely abandon once experienced.

    AI content editing and quality control fulfills growing needs for human refinement of AI-generated drafts, improving tone, clarity, factual accuracy, and brand alignment. The market increasingly demands usable content rather than mere volume.

    Freelance profile and offer packaging addresses the critical gap where skilled practitioners fail due to ineffective service presentation. Structuring compelling profiles and outcome-oriented service packages constitutes a meta-skill applicable to one’s own business or as a service for others.

    Social media page setup and optimization delivers disproportionate value through minimal effort, addressing the surprising prevalence of incomplete or poorly-structured business profiles across platforms. This quick-win service builds client trust and opens doors to larger projects.

    Email marketing setup remains consistently relevant due to email’s status as a high-ROI channel often underutilized by businesses. Skills in platform configuration, list building, welcome sequences, and newsletter management provide enduring value regardless of trending platforms.

    Digital research and market insight support caters to analytical minds, offering competitor analysis, content research, keyword insights, and audience analysis. While AI accelerates processes, interpretation and strategic insight remain distinctly human capabilities.

    The overarching objective transcends quick riches: developing digital skills builds leverage, creates optional income streams, reduces single-paycheck dependency, and enables global rather than merely local earnings. The Christmas break offers ideal conditions for skill acquisition, while the new year provides momentum for monetization. Consistent application promises a dramatically different financial reality by next December.

  • Trinidad and Tobago’s forex challenge: From diagnosis to decisive action

    Trinidad and Tobago’s forex challenge: From diagnosis to decisive action

    Trinidad and Tobago’s foreign exchange crisis has evolved from a cyclical concern to a structural economic emergency, creating profound challenges for businesses and threatening the nation’s economic diversification goals. The widening chasm between official and parallel exchange rates—evidenced by street-level transactions offering TT$7.55 for one US dollar—signals deep market distortions with far-reaching implications.

    Businesses across sectors, particularly small and medium enterprises and manufacturers, confront unpredictable access to foreign currency, resulting in operational delays, inflated costs from informal market premiums, and diminished competitiveness in international markets. This crisis transcends commercial concerns, impacting employment, pricing structures, investment decisions, and the nation’s broader economic transformation.

    Four fundamental drivers underpin this crisis: an artificially overvalued TT dollar creating excess demand while discouraging official inflows; structural decline in oil and gas production reducing traditional forex earnings; heavy import dependency across essential goods; and self-perpetuating uncertainty causing businesses to hoard foreign currency rather than circulate it through formal channels.

    Economic data reveals concerning trends: only two significant exchange rate adjustments since the 1990s, with rates effectively frozen since 2017. While foreign currency deposits within the banking system have grown substantially, this liquidity remains stagnant due to confidence issues and structural intermediation constraints. Energy exports continue dominating earnings while non-energy sectors struggle with uncompetitive production costs exacerbated by exchange rate misalignment.

    Addressing this crisis requires moving toward market-reflective exchange rates despite inflationary concerns. Historical evidence suggests such adjustments, when supported by prudent monetary and fiscal policies, yield manageable inflation while enhancing competitiveness. Bringing parallel market activity into regulated frameworks through expanded licensed trading would establish true equilibrium pricing and reduce informal transactions.

    Solving this national challenge demands coordinated action among government, central banking authorities, and private sector stakeholders. Priorities include encouraging foreign direct investment, enhancing export capacity, accelerating economically viable local production, and creating conditions where larger export-oriented firms can achieve forex self-sufficiency. The Trinidad and Tobago Chamber of Industry and Commerce emphasizes evidence-based solutions to safeguard economic resilience and sustainable growth for all citizens.

  • The services revolution: powering the future of Trinidad and Tobago

    The services revolution: powering the future of Trinidad and Tobago

    The Trinidad and Tobago Coalition of Services Industries (TTCSI) concludes 2025 with unprecedented achievements in member empowerment and sectoral development, positioning the services industry as the nation’s economic cornerstone. Under President Dianne Joseph’s leadership, the coalition has surpassed strategic objectives while establishing new paradigms for organizational support and national advocacy.

    Throughout the year, TTCSI’s capacity-building initiatives, significantly enhanced by Unit Trust Corporation support, transcended conventional training to become instruments of economic inclusion. The integration of diverse organizations including the Blind Welfare Association, Montserrat Cocoa Farmers Co-operative, and Anime Caribe Organisation into specialized development programs demonstrates the sector’s universal applicability. This foundational work sets the stage for aggressive 2026 expansion targeting niche sectors and service export readiness.

    TTCSI’s strategic media engagement transformed public education through expert knowledge sharing across critical disciplines. Members delivered essential insights on health and safety protocols, human resources management, architectural technicalities, and facility management priorities. The coalition’s educational campaign clarified industry distinctions such as pest management versus pest control while highlighting the creative sector’s economic significance.

    International recognition underscored TTCSI’s global impact as member organization TTIFMA received the Small Chapter of the Year award from its international parent body, with President Edward Kacal earning the Distinguished Member Award. These accolades validate Trinidad and Tobago’s service professionals as world-class competitors when provided with adequate growth platforms.

    The coalition’s geographic expansion to Tobago proved particularly successful, with Ruazz Fine Dining Restaurant exemplifying how tailored advocacy strengthens SME competitiveness. Tobago’s service sector engagement revealed that empowering small and medium enterprises represents the most direct pathway to national economic advancement.

    TTCSI identifies service exports as a fundamental solution to foreign exchange challenges, emphasizing that exported services translate national competence into retained high-value income. The coalition aligns with the Ministry of Trade, Investment, and Tourism’s vision to accelerate SME internationalization through enhanced brand awareness, product differentiation, and employment scaling.

    Strategic partnerships remained central to 2025 operations, with TTCSI emphasizing governance best practices requiring aligned cultures, norms, and value systems. The coalition maintains that transparency, integrity, and open communication constitute non-negotiable components of successful alliances.

    Looking toward 2026—designated as the Year of the Service Professional—TTCSI will expand membership categories to include individual professionals alongside corporate entities. This evolution acknowledges that service excellence represents the critical differentiator in every successful transaction, where poor service delivery frequently outweighs product quality in customer retention.

    The coalition commits to making service standards a national priority through global and local partnerships focused on total excellence. Despite governmental fiscal constraints surrounding the $59 billion 2026 budget, TTCSI stands ready to fuel sustainable, ethical, and professional growth engines that ultimately contribute to nation-building.

  • CAL Cargo appoints new GSSAS for UK, Western Europe

    CAL Cargo appoints new GSSAS for UK, Western Europe

    Caribbean Airlines Cargo has significantly enhanced its European market presence through strategic alliances with two prominent General Sales and Service Agents (GSSAs). This development establishes a bilateral trade corridor that facilitates smoother commercial exchanges between Caribbean and European markets.

    The aviation division has appointed APG Inc. Western Europe and ANA Aviation Services Ltd. as its official representatives across numerous European territories. APG Inc. will oversee cargo operations for Caribbean Airlines (coded BW) across an extensive network comprising 24 European countries, including major economies such as Germany, France, Italy, Spain, and the Nordic regions. This comprehensive coverage spans from Andorra to Vatican City, ensuring widespread market penetration and operational visibility.

    Concurrently, ANA Aviation Services Limited, operating under its commercial identity Network Airline Services, will manage the airline’s cargo interests throughout the United Kingdom. Leveraging its established industry expertise and robust regional presence, the organization will provide cargo solutions across England, Scotland, Wales, and Northern Ireland.

    Marklan Moseley, General Manager of Cargo and New Business at Caribbean Airlines, emphasized the strategic importance of these partnerships: “These collaborations are engineered to deliver seamless, reciprocal trade facilitation for our clientele on both continents. With APG and Network Airline Services, shippers now benefit from reliable local contacts possessing profound market understanding and dedication to service quality that mirrors our commitment to customer excellence.”

    The newly formed partnerships are projected to generate enhanced commercial opportunities while providing customers with localized support for bookings, pricing structures, and service-related inquiries. This expansion represents Caribbean Airlines Cargo’s continued dedication to strengthening transatlantic trade connectivity and reinforcing its position as a key logistics provider between the Caribbean and European markets.