分类: business

  • St. Kitts welcomes over 10,000 cruise visitors in one day as tourism surge continues  – WIC News

    St. Kitts welcomes over 10,000 cruise visitors in one day as tourism surge continues  – WIC News

    The Caribbean nation of St. Kitts and Nevis achieved a remarkable tourism milestone this week as Port Zante welcomed an unprecedented 10,371 cruise passengers in a single day. According to the St. Christopher Air & Sea Ports Authority (SCASPA), this record-breaking arrival occurred on Tuesday when four major vessels simultaneously docked at the island’s premier port facility.

    Among the notable arrivals was the Brilliant Lady, completing its nine-day Red Hot Sailing Club voyage with 2,450 passengers arriving from Antigua before continuing to the Bimini Islands in The Bahamas. The AIDASol, carrying 2,171 passengers on a 29-day one-way journey originating from the Dominican Republic, arrived from St. Maarten with scheduled stops across multiple Caribbean destinations before its final arrival in Hamburg, Germany on April 12.

    Additional vessels included the Grand Princess transporting 2,740 passengers to Dominica, and the Celebrity Eclipse with 3,055 passengers on an 8-day round trip itinerary covering Antigua, St. Maarten, and San Juan, Puerto Rico. The vast majority of visitors and numerous off-duty crew members disembarked to participate in organized tours and recreational activities across the island.

    This exceptional day forms part of an increasingly robust 2025-2026 cruise season, which tourism officials project will exceed one million passengers and include approximately 13 maiden calls to the island nation. The season previously witnessed another significant event with Royal Caribbean’s Star of the Seas inaugural visit in October 2025, bringing over 7,000 guests.

    February and March 2026 are proving particularly active months, with 64 scheduled arrivals in February and 68 expected in March alone—collectively anticipated to bring over 130,000 visitors. SCASPA emphasized its commitment to maintaining safe, efficient, and seamless port operations throughout this period of intensified maritime activity.

    The sustained growth in cruise tourism represents a substantial economic boost for St. Kitts and Nevis, benefiting numerous sectors including transportation, retail, hospitality, and local tour operators. Industry analysts view these developments as indicative of the Caribbean’s continuing recovery and expansion in post-pandemic tourism.

  • Finabank accepteert boete na jaren reputatieschade en krijgt €4,5 miljoen terug

    Finabank accepteert boete na jaren reputatieschade en krijgt €4,5 miljoen terug

    Suriname’s Finabank NV has reached a conclusive settlement with Dutch prosecutors, paying €124,500 to recover €4.5 million seized eight years ago in a money laundering investigation. The agreement ends years of legal uncertainty and reputational damage for the financial institution.

    CEO Eblein Frangie confirmed the bank will not pursue further legal action against the Dutch Public Prosecution Service (OM), choosing instead to finalize the matter and focus on business recovery. The settlement arrangement emerged after six months of negotiations, with funds expected to be returned within four weeks.

    The case originated in 2018 when Dutch authorities confiscated €19.5 million in cash from three banks—Hakrinbank, De Surinaamsche Bank, and Finabank—during transit from Suriname to China via the Netherlands. Despite initial suspicions of money laundering, no formal charges were ever filed, and the allegations remained unproven throughout the eight-year period.

    Frangie detailed the significant operational impacts during a press conference at Finabank’s headquarters. The prolonged investigation caused international clients, particularly in the oil and gas sector, to withdraw or hesitate doing business with the bank. Enhanced compliance checks slowed processes and created commercial stagnation.

    The CEO emphasized that the settlement payment does not constitute an admission of wrongdoing. “No lawsuit was ever initiated against us,” Frangie stated. “The funds were detained based on Dutch indicators. We have consistently complied with Caribbean Financial Action Task Force standards and all applicable Surinamese laws and regulations.”

    With the chapter now closed, Finabank will not seek damages from Dutch authorities. Instead, management will prioritize revitalizing operations that stalled during the lengthy investigation period.

  • Cane Farmers Weigh Costly Compromise with T&L

    Cane Farmers Weigh Costly Compromise with T&L

    Belize’s sugar cane industry stands at a critical juncture as the Belize Sugar Cane Farmers Association (BSCFA) contemplates a controversial settlement proposal that would terminate its protracted legal battle with Belize Sugar Industries and T&L Sugars. The association has been pursuing approximately five million dollars in unpaid Fairtrade premiums from the 2021-22 and 2022-23 seasons, plus additional payments for subsequent crops.

    The proposed agreement, scheduled for decision in March 2026, would completely nullify these financial claims in exchange for a single one-year Letter of Enhancement for the 2026-27 season. This document outlines potential premium calculation methods but grants T&L exclusive authority to determine which sugar qualifies, with no commitment to issue future letters beyond this period.

    A commissioned legal analysis characterizes the proposal as profoundly unfavorable, indicating the association could forfeit over eight million dollars in Fairtrade premiums without obtaining guaranteed compensation. Attorney Magali Marin Young cautioned that farmers would become vulnerable to corporate discretion, potentially being excluded from the Fairtrade system if future disputes arise.

    Additional complications include dispute resolution protocols requiring litigation under English law in London—a geographically and financially burdensome process for Belizean farmers. The absence of Belizean government participation in the agreement further eliminates potential safeguards should the settlement prove disadvantageous.

    Proponents present the agreement as fostering improved collaboration, enhanced data transparency, and long-term industry sustainability. However, the BSCFA must weigh these optimistic projections against substantial financial concessions and legal vulnerabilities.

    The association’s membership remains divided ahead of a decisive vote scheduled for Sunday in San Roman. Orange Walk Branch Chairman Alfredo Ortega leads opposition to the proposal, asserting it lacks fairness, transparency, and meaningful long-term security for growers. Ortega emphasized that accepting the settlement would represent signing ‘the cover of our coffin,’ urging farmers to carefully evaluate the agreement’s implications.

    The outcome will profoundly impact Belize’s agricultural economy and establish precedents for corporate-farmer relations in the sugar industry.

  • Farmers Warn: Walking Away Could Cost Millions

    Farmers Warn: Walking Away Could Cost Millions

    A significant conflict is emerging within Belize’s sugar sector, creating a complex standoff between the government and agricultural stakeholders. Prime Minister John Briceño’s administration faces allegations of pressuring the Belize Sugar Cane Farmers Association (BSCFA) to terminate its ongoing legal dispute against Belize Sugar Industries and multinational conglomerate Tate & Lyle.

    The association’s legal counsel has issued a stark warning that abandoning the litigation could result in the forfeiture of approximately nine million dollars—funds they anticipate securing through a favorable judicial ruling. This financial stake represents a critical potential gain for the farming community amid ongoing economic challenges.

    Prime Minister Briceño has publicly denied applying direct pressure on the association, stating, “Government has not proposed for them to drop the case. What the government has been saying is that it is their right if they want to go to court.” However, he emphasized the substantial hidden costs of prolonged litigation, noting that the legal battle is causing farmers to lose valuable Fair Trade revenue.

    Adding a layer of political complexity to the situation, Briceño confirmed his personal departure from BSCFA to join the Progressive cane farmers’ association, a move that has raised eyebrows within agricultural circles. This transition comes as the sector prepares for a pivotal vote this Sunday that could determine the future direction of Belize’s sugar industry.

    The Prime Minister defended his decision by highlighting Progressive’s Fair Trade certification, stating, “Progressive has signed on to Fair Trade, so we will be able to get the support from Fair Trade.” This development underscores the deepening divisions within Belize’s agricultural community as different factions pursue varying strategies for economic stability and growth.

  • Wijnerman bespreekt investeringsprojecten en samenwerking tijdens IDB Annual Meeting

    Wijnerman bespreekt investeringsprojecten en samenwerking tijdens IDB Annual Meeting

    Suriname’s Minister of Finance and Planning, Adelien Wijnerman, has concluded high-level negotiations at the Inter-American Development Bank’s Annual Meeting in Paraguay, positioning the South American nation for expanded international cooperation and funding. The minister presented Suriname’s policy priorities to the IDB Board of Governors, emphasizing their integration into future collaborative frameworks with the multilateral institution.

    Suriname currently maintains an extensive portfolio of 22 active investment projects with the IDB valued at $557.5 million. Through IDB Lab, the country is implementing five innovative initiatives supported by $2.9 million in grants. Additionally, IDB Invest is facilitating six private sector projects totaling $39 million in investments.

    Minister Wijnerman conducted strategic discussions with James Scriven, General Manager of IDB Invest, focusing on strengthening private sector engagement and expanding project pipelines. Technical assistance programs are being provided to ministerial departments and organizations to enhance project implementation capabilities.

    The minister expressed Suriname’s commitment to regional IDB initiatives including ONE Caribbean, South-South Cooperation, and Amazonia Forever—programs addressing climate change and sustainable development challenges across the Caribbean basin and Amazon region.

    During the “IDB Espresso Chats: Building Together” session, Wijnerman elaborated on Suriname’s existing cooperation with the IDB and outlined expectations for future support mechanisms.

    The diplomatic mission also featured bilateral meetings with OPEC Fund representatives regarding ongoing projects and new financing opportunities. Discussions with the Netherlands Ministry of Foreign Affairs focused on implementing agreements from the recent state visit by the Dutch King to Suriname. Separate negotiations with Deutsche Bank executives addressed existing investments and potential new collaborative ventures.

  • Economy : Strengthening cooperation in investment and entrepreneurial development

    Economy : Strengthening cooperation in investment and entrepreneurial development

    In a significant move to accelerate economic recovery, Haiti’s Ministry of Trade and Industry (MCI) has solidified a strategic cooperation framework with the United Nations Conference on Trade and Development (UNCTAD). Minister James Monazard convened a technical meeting to establish enhanced collaboration in investment promotion and entrepreneurial development, aligning with the government’s strategic priorities for sustainable growth.

    This partnership leverages UNCTAD’s internationally recognized expertise in assisting developing nations, particularly in formulating strategies that foster inclusive and sustainable economic expansion. The collaboration focuses on strengthening public policies dedicated to trade, investment, and entrepreneurship as fundamental pillars of Haiti’s development agenda.

    Three flagship initiatives received particular emphasis during the discussions:

    The Women’s Entrepreneurship Support Program (PAEF), designed to empower female business leaders through capacity building and promotion;
    The Youth Entrepreneurship Support Program (PAPEJ), which facilitates economic integration of young Haitians through entrepreneurial guidance;
    The Entrepreneurial Innovation and University Startup Support Program (AIESU), focused on cultivating innovation and establishing a robust national startup ecosystem.

    UNCTAD will provide strategic technical assistance through specialized workshops on sustainable investment policies and comprehensive online training modules for inclusive entrepreneurship. This support aims to strengthen MCI’s institutional capabilities and enhance the effectiveness of public policies, with direct benefits expected for the PAEF and PAPEJ programs.

    Digital economy development emerged as a critical transformation lever, with initiatives to attract investments in this sector complementing the objectives of the AIESU program. Through its Investment Facilitation Center (CFI), the Ministry is implementing several institutional enhancements:

    Progressive establishment of a Single Investment Window to streamline and digitalize administrative procedures;
    Strengthening CFI’s operational capacities in investor attraction and support;
    Enhancing tools for promoting national investment opportunities while developing strategic analysis capabilities.

    Minister Monazard characterized the meeting as paving the way for ‘strengthened cooperation, structured around clearly defined priorities and geared toward concrete results for Haiti’s economic development.’

  • BCCI Puts Women’s Empowerment Front and Center

    BCCI Puts Women’s Empowerment Front and Center

    The Belize Chamber of Commerce and Industry (BCCI) positioned gender equality at the forefront of national economic discourse during its fourth annual Women’s Empowerment Forum on March 18, 2026. Under the progressive theme “From Survival to Scale,” the event convened entrepreneurs, policymakers, and business leaders for substantive dialogue on overcoming persistent barriers to women’s economic participation.

    CEO Kim Aikman set the strategic tone by declaring women’s empowerment not as charitable endeavor but as critical economic investment. The forum addressed multifaceted challenges including capital access limitations, digital inclusion gaps, workplace safety protocols, and surprisingly, menopause awareness in professional environments—a topic typically absent from business conferences.

    The program featured the Women’s Thousand-dollar Grant Competition, recognizing innovative ventures with scalable potential. Local enterprises Oma Organix and My Cielo Blue emerged as award recipients for their transformative business models. Cultural dimensions were incorporated through a performance by Soca Queen Ernestine Carballo, whose artistic presentation celebrated female resilience in Belizean society.

    The BCCI articulated its commitment to spearheading systemic changes that dismantle structural barriers, asserting that national economic advancement is intrinsically linked to creating environments where women’s entrepreneurial talents can flourish unimpeded.

  • Caribbean Turns to IP as New Engine for Economic Growth

    Caribbean Turns to IP as New Engine for Economic Growth

    Belize has emerged as the focal point for a transformative Caribbean economic initiative this week, hosting regional leaders and European Union officials for the launch of the second phase of the groundbreaking CarIPI project. This strategic gathering marks a significant shift in economic development strategy, with participants exploring how enhanced intellectual property frameworks can catalyze regional prosperity.

    The comprehensive three-day workshop, building upon a four-year initial phase that commenced in 2019, represents a concerted effort to modernize and harmonize intellectual property systems across CARIFORUM nations. According to Kay King, Deputy Registrar of BELIPO, the current phase commenced in April 2025 and will extend through a forty-eight month implementation period.

    Central to the initiative is the introduction of a Geographical Indication mentorship program, providing Belizean producers with unprecedented networking opportunities and specialized knowledge about GI protections. This development coincides with Belize’s anticipated passage of its Geographical Indication Bill, which is currently awaiting Cabinet approval to become formal legislation.

    The final day of proceedings focused on international intellectual property integration, particularly examining the practical implementation of key treaties including the Madrid System for international trademark registration, the Lisbon Agreement for appellations of origin, and the Hague Agreement governing industrial design protection.

    Beyond legal frameworks, the project addresses tangible economic benefits by establishing protective mechanisms for culturally significant products such as Saint Lucia’s distinctive rum production and Trinidad and Tobago’s iconic steelpan instruments. This approach transforms traditional cultural assets into legally protected economic commodities with enhanced global market potential.

    The regional consensus indicates that intellectual property reform represents far more than bureaucratic procedure—it constitutes a fundamental restructuring of economic strategy that empowers local entrepreneurs, safeguards cultural heritage, and creates sustainable revenue streams through formalized recognition of Caribbean innovation and creativity.

  • Portvale walkout halts sugar harvest amid union recognition battle

    Portvale walkout halts sugar harvest amid union recognition battle

    A labor dispute over union representation and alleged workplace violations has halted operations at Barbados’s sole sugar processing facility, disrupting the critical harvest season. Dozens of workers at the Portvale sugar factory, operated by Barbados Energy and Sugar Company Inc (BESCO), initiated strike action Wednesday following failed recognition efforts by the Unity Workers Union (UWU).

    UWU General Secretary Caswell Franklyn reported that approximately 50 employees have withdrawn their labor in protest of management’s refusal to acknowledge their union despite claiming majority support among hourly workers. The conflict centers on competing representation claims between the newly-formed UWU and the established Barbados Workers’ Union (BWU), which BESCO officially recognizes.

    Franklyn detailed numerous grievances including alleged violations of labor regulations requiring excessive working hours without overtime compensation. “They are asking these workers to work 56 hours a week without any overtime payment,” he stated, noting this exceeds the legal 40-hour weekly threshold. The union leader further raised safety concerns regarding insufficient rest periods between shifts, particularly for personnel operating heavy machinery.

    Additional allegations include unsanitary working conditions where employees reportedly cannot leave their stations to use restroom facilities. Franklyn described the factory’s physical state as hazardous, citing leaking roofs in areas containing high-voltage equipment that present electrocution risks.

    BESCO responded by characterizing the action as an unauthorized strike, maintaining that BWU remains the legitimate bargaining agent. The company asserted that the current compensation model represents industry standard negotiated through proper channels and that workers are appropriately compensated for overtime. BESCO warned that participating employees traditionally forfeit pay during unauthorized work stoppages.

    The dispute occurs against broader instability within Barbados’s sugar industry following the 2024 restructuring that created BESCO after the collapse of the state-owned Barbados Agricultural Management Company. A proposed ownership partnership with Co-op Energy failed in August 2025 due to financing disagreements, undermining worker participation initiatives and contributing to ongoing industry tensions.

  • Dominican Republic strengthens economic ties with Japan

    Dominican Republic strengthens economic ties with Japan

    Santo Domingo – In a significant move to enhance international economic relations, the Dominican Republic’s Export and Investment Center (ProDominicana) has entered into a strategic partnership with the Japan External Trade Organization (JETRO) through a newly signed Memorandum of Cooperation. This landmark agreement establishes a comprehensive framework designed to strengthen bilateral trade relations and expand investment opportunities between the Caribbean nation and the Asian economic powerhouse.

    The collaborative framework encompasses multiple strategic initiatives including export promotion, foreign investment attraction, and the development of joint programs aimed at boosting commercial exchanges. Key components of the agreement involve facilitating business matchmaking services, organizing specialized trade forums and educational seminars, and implementing technical cooperation programs to enhance market competitiveness for both nations.

    Authorities from both sides emphasized the transformative potential of this alliance. Biviana Riveiro, representing ProDominicana, highlighted how this partnership will create unprecedented access for Dominican companies to enter high-value markets in Asia. Meanwhile, Mio Kawada of JETRO emphasized the agreement’s role in deepening economic integration and fostering sustainable business exchanges between the two economies.

    The economic context underscores the timing of this agreement: bilateral trade reached an impressive US$3.34 billion between 2019 and 2025. Dominican exports to Japan saw a notable 15.3% increase in 2025 alone, reaching US$80.2 million, driven primarily by medical instruments, copper scrap, and cocoa products. Complementing this trade growth, Japanese investment in the Dominican Republic has accumulated approximately US$60 million since 2019, demonstrating sustained confidence in the country’s economic landscape and strategic position in the Caribbean region.