In the latest financial update from Kingston, Jamaica, the US dollar experienced a minor decline in value on Thursday, October 9. According to the Bank of Jamaica’s daily exchange trading summary, the US dollar concluded the trading day at $161.53, marking a decrease of eight cents from its previous rate. This subtle dip reflects ongoing fluctuations in the global currency market. On the other hand, the Canadian dollar showed a slight upward trend, closing at $116.10, up from $116.06. Similarly, the British pound also saw an increase, ending the day at $216.53 compared to its earlier rate of $215.80. These movements highlight the dynamic nature of currency exchange rates and their responsiveness to various economic factors.
分类： business
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Shein’s Paris store kicks up a storm in France
The decision by Asian e-commerce giant Shein to establish its first permanent physical store in Paris has ignited a wave of controversy in the fashion capital. The store, set to open in November at the historic BHV Marais department store, has drawn sharp criticism from local brands and trade unions. BHV Marais, an iconic building opposite Paris City Hall since 1856, has already been struggling with tenant departures due to late payments. Shein’s announcement prompted several French brands, including Aime cosmetics, to exit the department store, with co-founder Mathilde Lacombe expressing deep shock over the deal. Trade unions have called for strike action, warning of a ‘short-term threat to the survival of the department store.’ Critics argue that Shein’s ultra-competitive pricing and fast-fashion model, which has disrupted traditional retail globally, could further harm French stores already facing layoffs and closures. The company, founded in China and now based in Singapore, has faced international scrutiny over environmental and labor concerns. The French ready-to-wear women’s clothing association, FFPAPF, condemned the move, fearing a flood of disposable products in the market. Meanwhile, the European Commission is investigating Shein for illegal product risks, and EU lawmakers recently approved legislation to curb fast fashion’s environmental impact. Former French environmental transition minister Christophe Bechu criticized Shein’s arrival as contrary to the country’s convictions. Despite the backlash, Shein framed its entry as a tribute to Paris’s status as a fashion hub. Executive Chairman Donald Tang stated, ‘By choosing France as the place to trial physical retail, we are honouring its position as a key fashion capital and embracing its spirit of creativity and excellence.’
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Caribbean Airlines named Caribbean’s leading airline brand for ninth consecutive year
PORT OF SPAIN, Trinidad (CMC) — Caribbean Airlines (CAL) has once again soared to new heights, securing the title of the Caribbean’s Leading Airline Brand for 2025 at the 32nd Annual World Travel Awards. This marks the ninth consecutive year that the regional carrier has been honored with this prestigious accolade, solidifying its reputation as a trailblazer in the aviation industry. The World Travel Awards, renowned for celebrating excellence in travel, tourism, and hospitality, serve as a global benchmark for quality and innovation. Caribbean Airlines’ consistent recognition underscores its dedication to regional integration, exceptional service, and a commitment to delivering a uniquely Caribbean experience to its passengers. Beyond the top honor, the airline also triumphed in categories such as the Caribbean’s Leading Airline, Leading Cabin Crew, and Leading In-flight Magazine. Over the past year, Caribbean Airlines has expanded its route network to include the French Caribbean, now connecting 28 destinations across North and South America and the wider Caribbean. The airline has also introduced innovative upgrades to its airport baggage handling systems and refined its product offerings to better align with the evolving needs of its customers. This latest achievement comes amidst significant management changes, including the recent resignation of the company’s chief executive officer. Despite these transitions, Caribbean Airlines continues to set the standard for aviation excellence in the region.
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WIOC AGM postponed due to tropical storm watch
The West Indies Oil Company (WIOC) has announced the postponement of its Annual General Meeting, which was initially scheduled for Thursday, October 9, 2025. This decision comes as Antigua and Barbuda remain under a Tropical Storm Watch, prompting concerns for the safety of staff and stakeholders. The company acted on the advice of the Director of the Antigua and Barbuda Meteorological Service, emphasizing the importance of prioritizing safety during severe weather conditions. WIOC has stated that a new date for the meeting will be determined following consultations with the board chairman. Further updates will be provided once the situation stabilizes. The company’s proactive approach underscores its commitment to the well-being of its employees and partners amidst unpredictable weather patterns.
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Caribbean Tourism Organization signs MOU partnering with Travel Unity for sustainable tourism
In a landmark move to enhance sustainable and inclusive tourism, the Caribbean Tourism Organization (CTO) has formalized a partnership with Travel Unity, a New York-based nonprofit. The agreement, signed this past summer by Roni Weiss, Executive Director of Travel Unity, and Dona Regis-Prosper, Secretary-General & CEO of CTO, aims to foster inclusive practices across the Caribbean’s tourism sector. The collaboration leverages Travel Unity’s expertise in accessible travel to position the Caribbean as a globally welcoming destination. Travel Unity, established in 2016 as a 501(c)(3) charitable organization, focuses on making travel accessible through education, professional development, and community engagement. The Memorandum of Understanding outlines joint initiatives, including annual webinars on inclusive tourism, sharing regional success stories, collaborative travel promotions, and youth engagement through CTO’s Nex-Gen Tourism Showcase. Travel Unity will spotlight CTO’s initiatives and provide speaking opportunities for CTO representatives at international events. In return, CTO will promote Travel Unity’s educational programs and webinars within its network. Dona Regis-Prosper emphasized the partnership’s significance, stating it underscores CTO’s commitment to socially inclusive tourism and equips members with tools to enhance long-term competitiveness.
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DR firms Newlink and Multiplicity launch alliance to transform national talent management
In a groundbreaking move, the Dominican Republic’s corporate sector is set to undergo a transformative shift with the strategic partnership between Newlink, renowned as The Engagement Company, and Multiplicity, a trailblazer in competency evaluation. This collaboration aims to introduce cutting-edge methodologies for talent selection and development, with the ultimate goal of enhancing employee loyalty, fostering innovation, and boosting competitiveness across the nation’s productive industries. The alliance directly responds to the growing demand within the Dominican business community for more sophisticated and effective tools to attract, evaluate, and nurture talent, while simultaneously strengthening strategic communication and external relations capabilities. Newlink brings to the table its expertise in strategic communication, digital management, organizational reputation, and market analysis, underpinned by its globally recognized “Orbital Thinking” framework. Additionally, the firm will integrate its internal Culture Unit, which focuses on organizational well-being, internal communications, and change management. Multiplicity, operating across Spain, Mexico, Colombia, and Venezuela, contributes its innovative talent diagnostics portfolio, including precise competency detection and a high-technology evaluation system. Natalia Batista, CEO of Multiplicity, emphasized that this partnership will mark a pivotal moment in how Dominican companies attract, retain, and empower their human talent. Eduardo Valcárcel, Managing Partner of Newlink, highlighted the broader vision of the alliance, stating that it aims not only to foster company growth but also to create a positive societal impact by building more dynamic, productive, and human-centered workplaces. This strategic association is poised to professionalize the Dominican Republic’s labor market, enhance its competitiveness, and position the nation as a sophisticated and attractive player in the regional market.
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Stuck in neutral: Car rentals push for tourism status
Car rental operators in Barbados have raised concerns over a new daily levy, warning that it could exacerbate existing inequities in the industry. The levy, initially set at $10 per day, was postponed to October 15 and reduced to $5 for the first seven days. While some industry players view the cap as a positive adjustment, others argue that it highlights a more profound issue: the classification of car rentals under the transport sector rather than tourism. This classification subjects the industry to a 17.5% VAT rate, significantly higher than the 10% rate applied to tourism businesses.
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PM Browne: One or two offshore banks may end up being placed under liquidation
Prime Minister Gaston Browne of Antigua and Barbuda has revealed that one or two offshore banks in the country may face liquidation due to persistent difficulties in maintaining correspondent banking relationships. Speaking on the Browne and Browne Show on Pointe FM, Browne highlighted that these institutions have struggled to secure or retain international correspondent partners, which are essential for processing cross-border transactions. This challenge has been exacerbated by increasingly stringent global banking regulations. Browne emphasized that the issue is not isolated to Antigua and Barbuda but is part of a broader trend affecting small financial centers worldwide, a phenomenon often referred to as ‘de-risking.’ The government is closely monitoring the situation and collaborating with the Financial Services Regulatory Commission (FSRC) to safeguard depositors and ensure compliance with international standards. Despite these challenges, Browne reassured that the domestic banking system remains stable, with local banks maintaining robust correspondent relationships and strong liquidity positions. The prime minister reiterated the country’s commitment to upholding the integrity of its financial sector while navigating these global pressures.
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SunEye Security Services Denies Claim of Unpaid Wages
SunEye Security Services has firmly refuted claims that it failed to pay its employees’ salaries and statutory deductions. The company’s legal representative has dismissed the allegations as unfounded, asserting that all employees have signed payment sheets confirming receipt of their wages. To substantiate their stance, SunEye Security Services has provided copies of these signed records to Antigua Newsroom, reinforcing their position that the accusations are entirely false. The company remains committed to transparency and compliance with labor regulations, emphasizing its dedication to fair treatment of its workforce. This development comes amidst heightened scrutiny of corporate practices in the region, underscoring the importance of accurate reporting and accountability in the business sector.
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ABIA Launches BRIDGE Facility to Fund Green and Digital Projects for Caribbean MSMEs
The Antigua and Barbuda Investment Authority (ABIA) has unveiled the BRIDGE Facility, a groundbreaking funding initiative designed to empower micro, small, and medium-sized enterprises (MSMEs) across the Caribbean. This program, spearheaded by the Caribbean Export Development Agency and backed by the European Union under the Global Gateway initiative, seeks to drive the region’s transition toward sustainable and digitally advanced business models. The BRIDGE Facility offers substantial financial support for projects focused on green transition and digital transformation. MSMEs can secure up to EUR 100,000 for initiatives in renewable energy, sustainable agriculture, circular economy, blue economy, and green technologies. Additionally, up to EUR 50,000 is available for projects in e-commerce, automation, cybersecurity, digital products, and supply chain digitization. A key requirement for applicants is to contribute at least 40% of the project cost, ensuring commitment and long-term sustainability. Interested businesses are encouraged to review the full guidelines, complete the application form, and utilize the provided budget templates available on the Caribbean Export Development Agency’s website. The deadline for submissions is November 9, 2025, at 11:59 PM AST. For further inquiries, contact [email protected]. This initiative marks a significant step in fostering economic resilience and innovation in the Caribbean, aligning with global efforts to combat climate change and embrace digital advancements.