Carib Scope

分类： business

  • Ex-managing director wins wrongful dismissal claim but ordered to return $215k

    Ex-managing director wins wrongful dismissal claim but ordered to return $215k

    In a landmark employment ruling, the High Court has delivered a complex judgment that simultaneously condemned both a medical company’s wrongful termination practices and its former director’s financial misconduct. Justice Jacqueline Wilson presided over the contentious case between The Surgical Specialist Centre Ltd and its ex-managing director Elizabeth Kelly, revealing a troubling pattern of informal financial management within the organization.

    The court determined that while Kelly must reimburse $215,724.05 for unauthorized payments from company accounts, her 2022 dismissal was legally unjustified. The case emerged from the complete deterioration of both professional and personal relationships between Kelly and Dr. Alan de Freitas, fellow director and equal shareholder in the medical facility established in 2016.

    Justice Wilson’s examination uncovered that the company’s financial operations lacked formal structure, with both principals routinely utilizing corporate funds for personal expenses without clear guidelines or consistent application. This informal approach to financial management ultimately undermined the company’s allegations of fiduciary breach against Kelly.

    “Both parties have admitted to using company funds for personal expenses,” Justice Wilson noted in her judgment, emphasizing that the absence of defined financial protocols and employment contracts complicated the determination of contractual breaches.

    The court awarded Kelly $120,000 in damages for wrongful termination—equivalent to six months’ salary—though this amount will be deducted from her required repayment to the company. Additionally, both parties were assigned reciprocal cost payments, with Kelly ordered to pay $41,358 in prescribed costs while the medical center must pay $27,000 toward her counterclaim.

    Legal representation saw Naline Sharma and Andrea Goddard advocating for Surgical Specialist Ltd, while Jean Louis Kelly and Natalie King represented the former managing director. The case highlights the critical importance of establishing formal financial controls and employment agreements within corporate structures, particularly when personal relationships intersect with business operations.

  • Guyana’s non-oil sector registers growth of more than 7%

    Guyana’s non-oil sector registers growth of more than 7%

    GEORGETOWN, Guyana — Guyana’s economic transformation continues to accelerate as new government data reveals a remarkable 13.8% expansion in the non-oil sector during the first half of 2025. This exceptional performance, described by officials as unprecedented by global standards, demonstrates the South American nation’s successful economic diversification strategy.

    Tourism, Industry and Commerce Minister Susan Rodrigues characterized the growth figures as extraordinary, emphasizing that such expansion percentages represent world-class economic performance. The broader economy maintained its robust trajectory with 7.5% overall growth, marking the fifth consecutive year of sustained economic expansion across multiple sectors.

    The non-oil growth was driven by significant advancements across diverse industries including agriculture, tourism, trade and infrastructure development. Minister Rodrigues highlighted the government’s commitment to building an “extremely diversified” economic foundation that reduces dependency on single industries while creating multiple growth engines.

    The administration’s development strategy focuses on ensuring that economic prosperity reaches all citizens regardless of geographical location, background, ethnicity, religion or political affiliation. This inclusive growth model will be implemented through various governmental agencies including the Small Business Bureau, Guyana National Bureau of Standards, Guyana Tourism Authority and the Competition Consumer Affairs Commission.

    Rodrigues emphasized that the current expansion represents just the initial phase of Guyana’s comprehensive development plan, with further economic diversification and inclusive growth initiatives planned for the coming years.

  • 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 peak, countless individuals share a common reflection: the desire for financial transformation by next year’s holidays. The path to altering one’s income trajectory in 2026 requires neither academic重返 nor technical mastery, but rather the acquisition of marketable digital capabilities that can be cultivated within weeks and converted into viable side ventures generating foreign exchange earnings.

    The contemporary digital landscape, powered by artificial intelligence and no-code platforms, has dramatically lowered entry barriers while simultaneously intensifying market competition. Success now hinges on delivering concrete outcomes rather than offering generic services. Here are the most practical digital skills to develop during the holiday respite and monetize in the coming year:

    1. Short-Form Video Editing & Content Repurposing: With short-form video dominating digital attention, businesses urgently need specialists who can transform long-form content into engaging platform-specific clips. This high-demand skill focuses on identifying pivotal moments, adding captions, and adapting content across formats without requiring on-camera presence or expensive software.

    2. Authentic UGC Creation for Brands: User-generated content creation has evolved beyond influencer marketing. Brands now seek genuine, creator-style videos demonstrating products organically. This accessible skill requires only a smartphone, natural lighting, and storytelling proficiency, making it one of the fastest routes to initial online earnings.

    3. No-Code Website Development: Despite social media’s dominance, businesses still require functional websites and conversion-optimized landing pages. Mastering platforms like WordPress or Shopify to create clean, effective layouts provides substantial value through rapid execution rather than technical complexity.

    4. AI-Assisted Website Construction: Artificial intelligence has accelerated website development, yet most business owners lack proficiency with these tools. Expertise in AI website generators like Loveable or Bolt AI represents a valuable service niche where clients prioritize results over technical methods.

    5. Marketing Automation Configuration: Numerous businesses continue performing repetitive tasks manually. Proficiency with automation tools like Zapier, Mailchimp, or Calendly allows specialists to reclaim operational time for clients—a service that demonstrates immediate, tangible value.

    6. AI Content Refinement: While AI generates content rapidly, most outputs require human refinement. Editing AI drafts for tone, accuracy, and brand alignment addresses the growing need for publish-ready content rather than mere volume.

    7. Freelance Service Packaging: Many skilled professionals struggle with freelancing due to inadequate service positioning. Mastering the art of structuring compelling profiles and outcome-oriented service packages creates significant competitive advantage.

    8. Social Media Optimization: Numerous businesses maintain incomplete or inefficient social media presences. Optimizing bios, content structures, and highlights delivers disproportionate value through minimal effort while establishing relationships for larger projects.

    9. Email Marketing Infrastructure: As one of digital marketing’s highest-ROI channels, email remains underutilized. Skills in platform setup, list building, and sequence creation provide consistently relevant value regardless of industry trends.

    10. Digital Research Expertise: For analytically inclined individuals, providing competitor analysis, keyword research, and market insights offers substantial value in business decision-making, combining AI efficiency with human interpretation.

    The fundamental objective extends beyond quick profits. Developing these skills creates financial leverage, generates optional income streams, reduces single-income dependency, and enables global earning potential. The Christmas break offers ideal conditions for skill acquisition, while the new year provides momentum for monetization. Consistent effort promises a dramatically different financial reality by next December.

  • 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.