VM Investments Limited (VMIL), a subsidiary of VM Financial Group Limited, is charting a bold course for regional expansion, leveraging its Barbados operations as a springboard for broader Caribbean growth. The company’s 2024 annual report underscores a strategic pivot toward private equity and asset management, alongside its traditional wealth management services, as it seeks to navigate evolving market dynamics and secure sustainable yields in a competitive landscape.
分类： business
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Digicel steps up turnaround under new CEO after debt restructuring
Digicel, the Caribbean-based telecommunications giant, is undergoing a significant transformation under the leadership of its new CEO, Marcelo Cataldo. Appointed in early 2024, Cataldo, a seasoned executive with a background at Millicom, is steering the company toward financial stability and growth after years of grappling with substantial debt. Founded in 2001 by Irish entrepreneur Denis O’Brien, Digicel expanded rapidly across 25 markets in the Caribbean, Central America, and the Pacific, but its aggressive growth strategy left it burdened with a debt load that once peaked at $7 billion. Following a 2022 debt-for-equity swap that reduced its liabilities by $1.7 billion, the company has successfully refinanced its remaining obligations, bringing its total debt down to approximately $2.7 billion. Cataldo’s strategy focuses on three key areas: enhancing mobile services, expanding fibre-optic networks, and boosting enterprise solutions. With 10 million customers across its markets, Digicel aims to transition users from feature phones to smartphones, thereby increasing average revenue per user (ARPU). The company also plans to extend its fibre network, which currently reaches about 900,000 households, with significant expansions underway in Guyana and Curaçao. Additionally, Digicel is leveraging its expertise in ICT solutions, including cloud computing and data centers, to strengthen its enterprise services. Cataldo emphasized the importance of collaboration with regulators to accelerate digital adoption in the region. Despite challenges such as stagnant population growth in the Caribbean and the high cost of smartphones for many households, Cataldo remains optimistic about Digicel’s ability to drive digital transformation and achieve long-term growth. The company’s recent partnership with Caban Energy to provide clean power for its operations in Jamaica underscores its commitment to sustainability. Cataldo concluded that while it is still early in his tenure, Digicel is on track to meet its financial targets and deliver on its promises to stakeholders, positioning itself as a key player in connecting the Caribbean to the digital world.
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World economy not doing as badly as feared, says IMF chief
The global economy is demonstrating unexpected resilience despite facing prolonged uncertainties and subdued medium-term growth prospects, according to Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF). Speaking in Washington on Wednesday, Georgieva noted that while the global economy is performing ‘better than feared, it remains worse than necessary.’ The IMF now anticipates only a slight slowdown in global growth this year and next, buoyed by stronger-than-expected conditions in the United States and several advanced and emerging economies.
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Sandals to pay $42m for lands at Mt Wynne
Prime Minister Ralph Gonsalves of St. Vincent and the Grenadines has unveiled key details of a confidential agreement signed with Sandals Resorts International for the construction of a Beaches resort at Mt Wynne. The deal, finalized on Monday in Buccament Bay, includes stringent confidentiality clauses covering all past and future negotiations, with limited exceptions for managerial staff, contractors, and legal representatives. The government has committed to registering and disclosing investment incentives to Parliament, ensuring transparency. Sandals will invest EC$41.66 million in acquiring 51 acres of land, marking a significant financial commitment. The resort, designed as a 500-room, family-oriented, all-inclusive hotel, will require a $500 million investment, equating to $1 million per room. The agreement prioritizes local procurement of agricultural goods and seafood, with duty-free concessions for imports only when local products are unavailable or insufficient. Gonsalves emphasized the government’s streamlined work permit system and mandated that at least 50% of construction workers be Vincentians. The project is expected to create 1,700 jobs, with 70% reserved for locals, and will proceed in phases, beginning with 350 rooms. Gonsalves highlighted the broader economic benefits, including job creation, tourism growth, and VAT revenue, while addressing concerns about non-national workers by stressing the international nature of the resort and the Caribbean-wide employment opportunities it provides.
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Dominica and Barbados Sign Landmark Tourism Partnership
In a groundbreaking move to enhance Caribbean tourism, Dominica and Barbados have inked a landmark Memorandum of Understanding (MOU) to collaborate on promoting multi-destination travel experiences. The agreement, signed on October 1 at the Hilton Barbados Resort during the Caribbean Tourism Organization’s State of the Tourism Industry Conference (SOTIC), marks a pivotal step in strengthening regional ties and offering enriched travel packages to global visitors. The Discover Dominica Authority (DDA) and the Barbados Tourism Marketing Inc. (BTMI) spearheaded the initiative, aiming to leverage their unique attractions—Dominica as the ‘Nature Isle’ and Barbados as the ‘Gem of the Caribbean’—to attract a broader audience. The MOU establishes a framework for joint marketing, knowledge exchange, and sustainable tourism development, focusing on eco-tourism, adventure, and wellness offerings. Key areas of collaboration include curating multi-destination packages, enhancing air and cruise connectivity, and coordinating media campaigns to elevate both destinations globally. The partnership also emphasizes sustainable practices to benefit local communities and the environment. Executives from both nations, including Marva Williams of DDA and Andrea Franklin of BTMI, highlighted the mutual benefits of the alliance, stressing the importance of regional unity and creative collaboration. The agreement is expected to boost economic opportunities, improve air access, and foster cross-industry synergies, such as manufacturing, beyond tourism. A joint working group will oversee the MOU’s implementation, with biannual reviews to ensure its success. This historic partnership sets a precedent for future collaborations among Caribbean nations, aiming to position the region as a premier multi-destination hub for global travellers.
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Privy Council ruling fuels Barbados fight over Cable & Wireless deal
In a significant legal development, over 300 minority shareholders of Cable & Wireless Barbados (C&W) have reignited their fight in the Barbados High Court, seeking a ruling on the contentious 2017 merger between C&W Barbados and C&W West Indies Limited. The group, spearheaded by Kenneth Ricky Went, Omstand Investment Inc., and Phillip Osbourne, filed fresh legal submissions last week, asserting that their rights were overlooked during the amalgamation process. Their case draws strength from a recent landmark decision by the UK-based Privy Council, which ruled in favor of minority shareholder Eric Jason Abrahams in a similar case involving Cable & Wireless Jamaica (CWJ). The Privy Council’s ruling emphasized that minority shareholders must be treated as a distinct class when their shares are being canceled or bought out, a principle the Barbados claimants argue applies directly to their situation. Representing the claimants, Senior Counsel Garth Patterson highlighted that the Privy Council’s reasoning aligns with their position that minority shareholders should have been allowed to vote independently on the merger. The claimants contend that the approval process failed to meet the legal requirements under Barbados law, as minority and majority shareholders were treated as a single voting class despite their divergent interests. With the Privy Council’s decision bolstering their argument, the minority shareholders are now urging the Barbados High Court to either invalidate the 2017 merger or recognize the process as oppressive and grant substantive relief. The case also names nine defendants, including Professor Sir Hilary Beckles, Vice Chancellor of the University of the West Indies. Went, speaking on behalf of the claimants, expressed optimism about the pending judgment, citing the Privy Council’s decision as a source of confidence.
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Barbados’ privacy blind spot and why cybersecurity isn’t enough
In today’s digital age, businesses and public officials often conflate data protection with cybersecurity, leading to significant oversights in handling personal information. While cybersecurity focuses on safeguarding systems and networks from unauthorized access and attacks, data protection is fundamentally about the lawful and ethical management of personal data. This distinction is crucial, especially under frameworks like the Barbados Data Protection Act, 2019 (DPA), which mandates transparency and respect for individual rights.
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DR Customs chief declares logistics the nation’s ‘new economic axis’ in address to UASD students
In a recent address at the Autonomous University of Santo Domingo (UASD), Yayo Sanz Lovatón, Director General of Customs (DGA) in the Dominican Republic, highlighted the logistics sector as the nation’s ‘new economic axis.’ Speaking to students from the Faculty of Economic and Social Sciences, Sanz Lovatón emphasized the sector’s exponential growth over the past five years and its promising future. He urged students in economics, foreign trade, and related fields to focus on logistics, citing its increasing strategic importance. The Customs Director also revealed that the DGA is the country’s second-largest tax collector, contributing an average of 22.64% to state revenue between 2021 and 2024 and 3.4% to the GDP in 2024. Under Sanz Lovatón’s leadership, the DGA has collected RD$195.203.32 million as of September 2025, a 6.08% increase from the previous year, with accumulated revenue surpassing RD$1.15 trillion over five years. Sanz Lovatón attributed the logistics boom to the DGA’s operational efficiency, particularly the ’24-Hour Dispatch’ program, which has processed over 90,000 containers in less than a day, benefiting more than 8,000 importers. He also credited the new Customs Law 168-21 and the Logistics Centers and Operators Law 30-24 with attracting major global corporations to establish regional distribution hubs in the Dominican Republic. Additionally, exports exceeded US$13 billion in 2024, reinforcing the trade sector’s role as the largest generator of foreign currency. UASD Rector Editrudis Beltrán Crisóstomo praised Sanz Lovatón for his contributions to the university, particularly the support provided to UASD interns within the Customs administration. The lecture was part of UASD’s academic program celebrating its 487th anniversary.
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COMMENTARY: Don’t Let Emails Control Your Day or Your Life.
In today’s fast-paced professional landscape, email remains a cornerstone of communication. However, the deluge of daily messages often leads to inefficiency, wasted time, and diminished productivity. Many professionals find themselves bogged down by email, struggling to focus on their core objectives. This article provides actionable strategies to optimize email usage, both as a sender and receiver, while leveraging Microsoft Outlook’s features to streamline the process.
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Third CBI project approved for Range Developments
Grenada’s Citizenship by Investment (CBI) program continues to drive significant growth in the luxury real estate sector, with Range Developments leading the charge. The latest addition to the program, ‘The La Sagesse Collection,’ comprises 60 ultra-luxe ocean-view residences in La Sagesse, St David. Owners of these properties will gain access to the prestigious Six Senses La Sagesse and the upcoming InterContinental Grenada Resort, both developed by Range Developments. This marks the third CBI-approved project by the developer in Grenada, following the successful launch of the One True Blue Beach Hotel and Residences in True Blue, St George. The project was officially granted Approved Project Status on 23 June 2025, as published in the Government Gazette on 3 October 2025. Each residence spans 1,545 square feet, featuring two bedrooms and two residences per floor. Range Developments’ projects have attracted the majority of CBI investors, with La Sagesse Six Senses and InterContinental accounting for 61% of investments between July and December 2024. During this period, investments in InterContinental totaled EC$70.3 million, while Six Senses garnered EC$6.7 million. The government requires a minimum investment of US$50,000 per application, contributing to the approval of 5,443 new citizens by the end of 2024. This initiative underscores Grenada’s appeal as a destination for high-net-worth individuals seeking citizenship through investment.