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.
分类: business
-

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
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
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
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.





