分类: business

  • Maloney Group to invest $700M in major housing developments

    Maloney Group to invest $700M in major housing developments

    Barbados is set to witness a transformative investment of over $700 million in two of its largest housing developments, spearheaded by construction magnate Mark Maloney. The executive chairman of The Maloney Group unveiled ambitious expansion plans for The Residences at Coverley and Atlantic Breeze in Christ Church during the TVET Council’s 4th Barbados Annual Construction and Design Conference. The Residences at Coverley, already in its first phase, will deliver nearly 600 homes, complemented by a vibrant lifestyle community featuring the island’s first dedicated nature trail and a sprawling 70,000 square-foot retail town center. Maloney emphasized the inclusion of major brands, restaurants, and entertainment venues, estimating the investment at Coverley to be around $500 million. Atlantic Breeze, with its second phase nearing completion and third phase underway, will contribute an additional $200 million, bringing the total investment to over $700 million. Homes in these developments are priced between $200,000 and $300,000, offering unmatched value, according to Maloney. Despite initial roofing issues in phase one, which have since been resolved, Maloney expressed confidence in homeowner satisfaction and the company’s commitment to addressing any concerns promptly. The government has also pledged to upgrade road infrastructure leading to the developments, with work expected to commence soon. Looking ahead, The Maloney Group is exploring additional projects, including condominiums and hospitality investments, and is considering similar developments abroad to cater to international buyers seeking well-organized, amenity-rich communities.

  • Magnate vows thousands of new posts in landmark hotel project

    Magnate vows thousands of new posts in landmark hotel project

    After a decade of delays, the construction of the Hyatt Ziva hotel at Carlisle Bay in Barbados is finally poised to begin in earnest within the next two months, according to developer Mark Maloney. The project, which represents the largest private investment in the island’s history, is a cornerstone of the government’s plan to revitalize Bridgetown with new commercial, residential, and hospitality developments. Maloney, executive chairman of The Maloney Group, revealed that preparatory work, including substructure improvements, has been completed over the past six months. The next phase will involve laying the foundation and commencing the vertical build, with the project expected to be finalized by the end of 2027. The Hyatt Ziva hotel will feature 380 rooms, adding significant capacity to Barbados’ tourism sector and complementing other ongoing developments in the area. Maloney emphasized the project’s transformative impact, noting its potential to create 2,000 construction jobs and 1,200 permanent hotel positions. He also highlighted the broader economic benefits, stating that the investment reflects confidence in Barbados’ future and will attract further overseas investment. Originally announced in 2016 as a 237-room Hyatt Centric boutique hotel, the project was later rebranded under Hyatt’s Ziva family-friendly, all-inclusive brand. The switch, though unexplained, aligns with the growing demand for comprehensive resort experiences. The Hyatt Ziva project is seen as a catalyst for renewed energy and optimism in Barbados’ hospitality and construction sectors.

  • Taxi Association Pushes Back as Ride Hailing Swift App Gains Popularity

    Taxi Association Pushes Back as Ride Hailing Swift App Gains Popularity

    A new ride-hailing app, Swift, has ignited a heated debate in Antigua’s transportation sector, pitting modern technology against traditional taxi services. Launched earlier this year, Swift promises efficient and reliable rides for locals and tourists alike. However, Gregory Athill, president of the National Taxi Association, has voiced strong opposition, arguing that the app threatens both the livelihoods of taxi operators and the island’s long-standing culture of personalized service. Athill emphasized the importance of maintaining the human connection that has defined the industry for decades, stating, ‘We have a heritage, we have a culture where we have an experience, a relationship with people.’ He criticized the government for licensing Swift without consulting industry stakeholders, leaving taxi operators feeling sidelined. Another concern is the potential for unlicensed vehicles to operate on the platform, despite Swift’s assurances of rigorous driver verification. Athill remains steadfast in his resistance, declaring that the association will ‘stand its ground’ until their concerns are addressed. Meanwhile, some residents have expressed frustration with the traditional taxi system, citing issues like overcharging and limited availability. The clash highlights a broader tension between innovation and tradition, with the outcome likely to shape the future of Antigua’s transportation landscape.

  • Organizers Outline Dress Code for Hospitality Job Fair

    Organizers Outline Dress Code for Hospitality Job Fair

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  • Cabinet Briefed on Arrival of New Liebherr Mobile Harbour Crane

    Cabinet Briefed on Arrival of New Liebherr Mobile Harbour Crane

    The Honorable Attorney General recently updated the Cabinet on his visit to the St. John’s Port, where he witnessed the arrival of a cutting-edge Liebherr LHM 420 mobile harbor crane. This $6.2 million investment by the Antigua and Barbuda Port Authority is a pivotal move in the nation’s strategy to establish itself as a premier logistics hub in the Eastern Caribbean. The crane, renowned for its advanced control systems and rapid cycle times, is expected to handle up to 60 containers per hour, setting a new regional benchmark for efficiency. This technological leap is anticipated to significantly enhance cargo handling and trans-shipment operations, reducing turnaround times and bolstering the port’s competitiveness. The project is already in motion, with 18 components of the crane successfully off-loaded. A team of German engineers is on-site to oversee the reassembly, while local operators undergo hands-on training to ensure seamless operations. This initiative is projected to attract additional business, stimulate national revenue growth, and create new job opportunities, marking a transformative chapter for Antigua and Barbuda’s maritime sector.

  • Emirates in talks to add Antigua to its global network

    Emirates in talks to add Antigua to its global network

    Emirates, the Dubai-based global airline, has initiated high-level discussions with the Government of Antigua and Barbuda to explore the possibility of adding the Eastern Caribbean nation to its extensive international network. The talks, held on September 24, 2025, in Dubai, involved Adnan Kazim, Emirates’ Deputy President and Chief Operating Officer, alongside senior executives from the airline. Representing Antigua and Barbuda were Theon Ali, Deputy Head of Mission to the UAE, and his delegation. The discussions focused on the strategic value of Antigua and Barbuda as a gateway to the Eastern Caribbean, emphasizing its growing reputation as a tourism and business hub. The Antiguan delegation highlighted the country’s potential to enhance connectivity for travelers from the Gulf region and beyond. Both parties explored the broader implications of establishing direct air links, including fostering investment flows and strengthening ties between the Middle East and the Caribbean. Emirates expressed its interest in conducting route viability assessments, aligning with its global expansion strategy. While no specific timeline was announced, the dialogue is set to continue, with both sides committed to deepening bilateral relations. This development follows Antigua and Barbuda’s recent air services agreement with Qatar in January 2025, which granted unlimited traffic rights for passenger and cargo flights between the two nations. The potential partnership with Emirates underscores the Caribbean nation’s efforts to bolster its international connectivity and economic prospects.

  • ECCB Governor urges Credit Unions to Strengthen Resilience Amid Global Challenges

    ECCB Governor urges Credit Unions to Strengthen Resilience Amid Global Challenges

    In a compelling address at the Credit Union Summit held on September 24, 2025, at the St. Kitts Marriott Resort, Timothy Antoine, Governor of the Eastern Caribbean Central Bank (ECCB), urged credit unions across the Organization of Eastern Caribbean States (OECS) to bolster their resilience in the face of a rapidly evolving global financial landscape. Antoine described the credit union movement as a ‘force for good’ in the region, emphasizing its pivotal role in fostering financial and economic empowerment. He highlighted the current global economic challenges, including geopolitical tensions, trade wars, and the accelerating impact of artificial intelligence (AI), and called for proactive adaptation to harness the potential of these technologies while mitigating their risks. Antoine encouraged credit unions to ‘light candles in the darkest places,’ drawing on historical and faith-based resilience to continue empowering communities. Prime Minister Dr. Terrance Drew, speaking virtually from New York, echoed these sentiments, underscoring the critical role of credit unions in supporting ordinary citizens across the Caribbean, particularly where traditional financial institutions have failed. Dr. Drew noted the region’s ‘polycrisis,’ encompassing climate change, post-pandemic recovery, inflation, and geopolitical instability, and urged credit unions to rise to these challenges as they have in the past. The summit, themed ‘One Vision, One Future: OECS Credit Unions Growing Together,’ aims to foster collaboration and growth among credit unions in the region.

  • FOREX: $161.12 to one US dollar

    FOREX: $161.12 to one US dollar

    KINGSTON, Jamaica — In the latest trading session on Thursday, September 25, the US dollar demonstrated a slight upward trend against the Jamaican dollar, closing at $161.12, an increase of eight cents, as reported by the Bank of Jamaica’s daily exchange trading summary. Concurrently, the Canadian dollar also saw a notable rise, ending the day at $117.65, up from its previous close of $115.52. In contrast, the British pound experienced a minor decline, settling at $216.08, down from $216. These fluctuations highlight the dynamic nature of foreign exchange markets and the varying performance of major currencies against the Jamaican dollar. The Bank of Jamaica continues to monitor these trends closely, providing essential data for investors and policymakers.

  • Breeze Airways to commence non-stop service between Tampa and MoBay

    Breeze Airways to commence non-stop service between Tampa and MoBay

    KINGSTON, Jamaica — Breeze Airways is set to introduce seasonal non-stop flights from Tampa International Airport (TPA) to Montego Bay, Jamaica, starting February 11, 2026. This marks the airline’s first international service from Tampa Bay, connecting travelers directly to Sangster International Airport (MBJ). The new route, pending final government approval, will operate twice weekly on Wednesdays and Saturdays. Montego Bay will become the 30th destination offered by Breeze from TPA since the airline’s inception at the airport in 2021. Tampa International Airport CEO Michael Stephens expressed enthusiasm for the partnership, highlighting the convenience and affordability the new route will bring to Tampa Bay travelers seeking access to Montego Bay’s vibrant culture and stunning beaches. Breeze Airways, founded by aviation entrepreneur David Neeleman, has rapidly expanded its network, now operating over 300 routes to more than 80 cities across the U.S. and internationally. Neeleman emphasized the significance of this milestone, attributing it to the support of the airline’s team, passengers, and airport partners. The new service will feature Breeze’s signature blend of low fares and premium amenities, including Ascent seating, free family seating, onboard WiFi, and flexible booking options. Introductory fares for the route start at $99 each way and are now available for booking on Breeze’s website.

  • EU and Caribbean Export launch BRIDGE to accelerate MSME growth

    EU and Caribbean Export launch BRIDGE to accelerate MSME growth

    The Caribbean Export Development Agency (Caribbean Export), in collaboration with the European Union’s Global Gateway initiative, has unveiled a groundbreaking facility to empower micro, small, and medium-sized enterprises (MSMEs) across the Caribbean. Named the Building Resilient Innovation for Digital & Green Enterprises (BRIDGE) facility, the program provides co-financing of up to EUR 100,000 to help MSMEs adopt sustainable and digitally advanced business models. The initiative is strategically designed to address two critical priorities for the private sector: green transition and digital transformation. Through two distinct funding streams, MSMEs can secure financial support to accelerate their growth and competitiveness. The Green Transition stream offers co-financing of up to EUR 100,000 (covering 60% of project costs) for initiatives in renewable energy, sustainable agriculture, circular economy, blue economy, and green technologies. Meanwhile, the Digital Transformation stream provides up to EUR 50,000 (60% of project costs) for projects in e-commerce, business process automation, cybersecurity, digital products, and supply chain digitization. Beneficiaries are required to contribute at least 40% of project costs, ensuring a shared commitment to success and sustainability. Dr. Damie Sinanan, Executive Director of Caribbean Export, highlighted the transformative potential of BRIDGE, stating, ‘This initiative is about co-investing in the future of our businesses. By supporting green and digital transitions, we are enabling businesses to reduce costs, innovate, and access new export markets, ultimately fostering a more competitive and resilient Caribbean economy.’ Fiona Ramsey, the EU Ambassador to Barbados and the Eastern Caribbean States, echoed this sentiment, emphasizing the EU’s commitment to supporting Caribbean businesses in achieving sustainability and digitalization. Applications for the BRIDGE facility are now open and will close on November 9, 2025. Eligible firms can access detailed guidelines, application forms, and budget templates on the Caribbean Export website.