Carib Scope

分类： business

  • Pink Boutique: Bigger Store, Best Quality, Better You

    Pink Boutique: Bigger Store, Best Quality, Better You

    BELIZE CITY – In a significant development for Belize’s retail sector, prominent fashion retailer Pink Boutique has unveiled its newly expanded flagship location along the Philip Goldson Highway following an intensive two-month renovation period. The strategic expansion represents a substantial investment by the established brand to accommodate its rapidly growing customer base and evolving market demands.

    The revitalized retail space now offers an enhanced shopping environment characterized by increased floor space, improved lighting, and a comprehensive inventory featuring the latest trends in women’s and children’s apparel, footwear, and cosmetic products. Owner Shelly Perera celebrated the reopening with a special inaugural event featuring live piano music, complimentary refreshments, and store-wide promotional discounts.

    “Our primary objective remains delivering fashionable clothing options for women while expanding our offerings to include children’s wear and select menswear categories,” Perera stated during the opening ceremonies. The boutique chain currently maintains four physical locations across Belize, including establishments in San Ignacio, downtown Belize City, the Northern Highway, and San Pedro.

    Beyond physical expansion, Perera revealed ambitious plans for digital transformation and nationwide growth. “We intend to strengthen our online presence through social media platforms and are evaluating additional retail expansions in response to requests from various districts,” she confirmed.

    Customer response to the reopening has been overwhelmingly positive, with longstanding patrons expressing enthusiasm for the upgraded shopping experience. The boutique has committed to maintaining its elevated service standards and quality product offerings beyond the inaugural celebrations, ensuring consistent retail excellence throughout the year.

  • New study says China’s economic reach increasing in region, despite US objection

    New study says China’s economic reach increasing in region, despite US objection

    A comprehensive analysis reveals China’s rapidly expanding economic influence throughout Latin America and the Caribbean, with bilateral trade reaching a record $510 billion in 2024—nearly double the volume recorded a decade earlier. According to research from think tank ODI Global, China has solidified its position as the primary bilateral creditor and second-largest overall trading partner for the region, trailing only the United States.

    The detailed study, examining economic interactions from 2013 to 2024, demonstrates several transformative trends. Four nations—Brazil, Mexico, Chile, and Peru—account for 76% of China’s regional trade, with Brazil alone representing 36% of total merchandise exchange. Since 2018, more than half of Latin American and Caribbean countries have joined China’s Belt and Road Initiative, seeking infrastructure development and enhanced economic cooperation.

    Financial data shows China extended over $145 billion in loans to the region between 2013 and 2021, with majority being non-concessional financing. Notably, many countries now repay more to China than they borrow anew, with Beijing holding over half of the region’s official bilateral debt.

    Investment patterns are evolving significantly, with Chinese foreign direct investment shifting from traditional energy and mining sectors toward renewable energy and manufacturing. Clean energy investments surged by 50% between 2015-2019 and 2020-2024 periods, reflecting strategic diversification.

    Despite geopolitical tensions and U.S. efforts to discourage engagement, China’s economic relationships continue strengthening through trade networks, manufacturing partnerships, and integrated supply chains that extend beyond formal initiatives. Research Fellow Elena Kiryakova notes that competing powers must offer superior economic value rather than treating the region as an arena for geopolitical competition.

  • Simple Advisory Limited helps Woodcats raise $750m and list on the Junior Stock Exchange

    Simple Advisory Limited helps Woodcats raise $750m and list on the Junior Stock Exchange

    KINGSTON, Jamaica — Following its instrumental role in the fully-subscribed initial public offering (IPO) and offer for sale for Woodcats International, business advisory firm Simple Advisory Limited (SAL) is strategically enhancing its capabilities to facilitate capital access for Jamaican enterprises. The company announced its expansion plans Tuesday, revealing increased engagement from small and medium-sized enterprises (SMEs) seeking financial guidance for growth initiatives, capital investments, acquisitions, and debt reorganization.

    SAL served as special consultant for Woodcats International’s recent public market debut, overseeing a capital raising process that attracted more than 9,000 investors and reached complete subscription within the designated timeframe. As independent advisors, SAL implemented an objective and efficient framework that ensured regulatory compliance while maximizing investor participation.

    Woodcats General Manager Peter Douglas commended SAL’s performance, stating: “Our collaboration with SAL created a seamless fundraising experience. Their expertise granted us the operational freedom to maintain business continuity throughout this critical capital raising phase.”

    The advisory firm provided comprehensive strategic direction across multiple domains including business valuation, prospectus development, public relations campaigns, and precise transaction timing. SAL additionally facilitated coordination among essential stakeholders—legal counsel, marketing agencies, and brokerage firms—to achieve optimal offering outcomes.

    This successful transaction positions SAL as an emerging leader in Jamaica’s financial advisory landscape, particularly for companies navigating complex capital market transactions. The firm’s expanding client portfolio reflects growing demand for professional advisory services among Jamaican businesses pursuing structured growth and market expansion strategies.

  • Finance Minister attends PCT Tax and Development Conference in Japan

    Finance Minister attends PCT Tax and Development Conference in Japan

    Grenada’s Finance Minister Dennis Cornwall is leading the nation’s delegation at the prestigious Platform for Collaboration on Tax (PCT) Conference in Tokyo, Japan, from March 2-3, 2026. The high-level gathering at the Tokyo Prince Hotel brings together global tax experts to address critical issues in international taxation systems and development financing.

    Minister Cornwall is accompanied by Sheena Lewis, Comptroller of Grenada’s Inland Revenue Division, forming an expert delegation capable of engaging with complex fiscal policy matters. The exclusive conference focuses on enhancing both international and domestic tax frameworks, promoting cooperative taxation approaches, and advancing sustainable development goals through improved Domestic Revenue Mobilization strategies.

    The event has drawn participation from over 200 senior officials representing finance ministries, tax authorities, international organizations, and development agencies worldwide. Grenada’s inclusion follows a formal invitation from the PCT Secretariat, recognizing the nation’s recent advancements in tax administration, including the February launch of the innovative GTAX Platform by the Inland Revenue Division.

    During the conference, Minister Cornwall and Comptroller Lewis will actively participate in keynote addresses, expert panel discussions, and peer-learning sessions designed to share best practices and strengthen national revenue collection systems. These engagements will provide valuable insights for enhancing Grenada’s fiscal management capabilities.

    The Ministry of Finance emphasized that such international collaborations represent strategic priorities for ensuring Grenada’s fiscal framework maintains robustness, transparency, and alignment with global standards. These efforts directly support the nation’s objectives for sustained economic growth and comprehensive national development, positioning Grenada at the forefront of modern tax administration practices.

  • Teshena Marshall Wins $500 in Flow’s Riddim and Rewards Promotion

    Teshena Marshall Wins $500 in Flow’s Riddim and Rewards Promotion

    Telecommunications provider Flow has announced Teshena Marshall as the latest winner in its ongoing Riddim and Rewards promotional campaign, awarding her a $500 cash prize. The initiative, designed to engage customers through interactive participation, represents Flow’s continued investment in customer appreciation programs across its service regions.

    The Riddim and Rewards promotion incorporates musical elements with traditional reward mechanics, creating a distinctive engagement platform that distinguishes itself in the competitive telecommunications landscape. Participants typically encounter the promotion through various channels including digital platforms, direct marketing communications, and in-store activations.

    Company representatives emphasized that Marshall’s victory demonstrates the accessibility and transparency of their promotional structures. “We congratulate Teshena on her win and remain committed to creating rewarding experiences for our valued customers,” stated a Flow marketing executive during the prize notification process.

    Industry analysts note that such promotions serve dual purposes: enhancing brand loyalty while simultaneously collecting valuable consumer data that informs future marketing strategies and service developments. The $500 prize tier represents a mid-level reward within Flow’s broader promotional ecosystem, which often features both smaller instant wins and substantially larger grand prizes.

    This announcement coincides with increased competitive activity within the telecommunications sector, where customer retention initiatives have gained significance amid market saturation in many regions. Flow’s parent company, Liberty Latin America, has consistently supported such engagement tactics as part of its overarching customer acquisition and retention strategy.

  • CANTO HR Conference urges people-centred leadership for competitiveness

    CANTO HR Conference urges people-centred leadership for competitiveness

    PORT OF SPAIN – Caribbean telecommunications executives, regulators, and human resources leaders have issued a compelling call for a fundamental rethinking of regional competitiveness, arguing that technological infrastructure alone is insufficient without parallel advancements in human capital systems, governance, and leadership culture.

    The consensus emerged during the inaugural CANTO HR Leadership Conference, hosted February 4-5, 2026, at the Hyatt Regency in Port of Spain. Titled “Elevating People, Power and Purpose — HR Leadership for a Globally Competitive Caribbean,” the event represented a strategic expansion of the annual CANTO Connect gathering, specifically addressing human capital challenges in the digital transformation era.

    Cavelle Joseph-St Omer, President of the Human Resource Management Association of Trinidad and Tobago (HRMATT), delivered a keynote address positioning HR leadership as the critical nexus between technological capability and economic resilience. “Digital transformation has advanced across the Caribbean, with adoption rising significantly in recent years,” Joseph-St Omer noted. “Yet nearly 60% of regional companies still struggle to implement new technologies because they lack the skilled people to support them.”

    She identified several priority areas where HR leadership must drive organizational change: developing AI-augmented workforces, fostering data-literate decision-making, building cyber-resilient cultures, implementing project governance aligned to digital delivery, and creating fluency in cloud and automation technologies. Most significantly, she drew a direct connection between governance quality and competitive advantage: “The Caribbean cannot achieve regional competitiveness without strong governance. Competitiveness is built on trust — and trust is built on people and systems.”

    Liberty Caribbean executives provided concrete examples of people-first strategies in action. Dominic Boon, VP of People, revealed that 85% of the company’s leadership team comprises Caribbean talent, with half being women, demonstrating their commitment to equitable representation. “Diverse perspectives strengthen decision-making and help us build organizations that better reflect and serve our communities,” Boon emphasized.

    The company’s approach includes trust-based flexibility, inclusive benefits, and replacing traditional performance reviews with Agile Performance Development (APD) that emphasizes growth conversations rather than numerical scoring. Valerie Brunken, People Experience Director, highlighted their flexible PTO policy as particularly impactful: “It’s one of the policies that can bring engagement, trust, collaboration to an organization,” especially valuable for enabling shared caregiving responsibilities.

    A featured session on multi-generational workforce management, led by Debra Thomas, Chief Human Resources Officer at TSTT, addressed the unprecedented demographic complexity in Caribbean workplaces. “We now have 4 generations in the workplace, some say even 5,” Thomas observed. She challenged leaders to move beyond outdated policies designed for a different era and instead focus on understanding diverse communication styles, aspirations, and needs across age groups.

    A CEO panel moderated by Richard Solomon of the Development Consulting Centre Ltd. explored how telecommunications leaders are shifting from infrastructure-centric narratives to people-centered outcomes. Simone Martin-Sulgan, Vice President and General Manager at FLOW, articulated this transformation: “We’re moving away from talking about tech and infrastructure, and becoming truly customer-obsessed. Our message isn’t ‘bigger, better, faster’ anymore — it’s about the real benefits in people’s lives.”

    Charles Douglas, Vice Chairman of CANTO, framed HR strategy as a regional imperative, particularly for small, open Caribbean economies where talent mobility is high and competition is global. “As an industry, we are investing heavily in networks, digital platforms and emerging technologies such as AI,” Douglas stated. “But none of this delivers value without a workforce that is skilled, adaptable and engaged.”

    The conference concluded with broad agreement that technology investments must be matched by equally sophisticated human capital strategies. Participants affirmed that future competitiveness will depend on people-centered governance, resilient leadership cultures, and HR strategies specifically aligned to digital transformation goals across the Caribbean region.

  • GCSI adjusts dates for upcoming Services Expo

    GCSI adjusts dates for upcoming Services Expo

    In a strategic move to enhance visitor engagement, the Grenada Coalition of Services Industries (GCSI) has announced a revised schedule for its upcoming 3rd Annual Services Expo. The premier event will now unfold on Friday, 27 March and Saturday, 28 March 2026, shifting from its originally planned Thursday-Friday slot on 26-27 March. The venue remains the Grenada Trade Centre in Morne Rouge, St George.

    This calendar adjustment follows constructive dialogue with key stakeholders and participating exhibitors. GCSI Chairman Jude Bernard emphasized the organization’s commitment to stakeholder collaboration, stating that the rescheduling directly addresses exhibitor recommendations for incorporating a weekend day. “Extending the exposition into Saturday is projected to significantly amplify public attendance, foster deeper community interaction, and maximize the commercial impact for all represented businesses,” Bernard explained.

    Celebrated as the Caribbean’s sole dedicated exposition for the services sector, the GCSI Expo offers an unparalleled platform for enterprises of all scales—from micro-entrepreneurs to established corporations—to demonstrate their innovations, forge strategic alliances, and network directly with clients, government officials, and industry peers.

    The exposition is a cornerstone of GCSI’s broader mission to fortify Grenada’s services industry, stimulate cross-sector collaboration, and unlock new avenues for export development and sustainable economic diversification. Operating under the auspices of the Ministry of Trade, the Coalition works systematically to identify and cultivate local service providers with export potential, guiding them toward international market readiness to drive job creation and foreign exchange earnings for national development.

  • Caribbean countries anticipate modest expansion in 2026 despite global challenges, says CDB

    Caribbean countries anticipate modest expansion in 2026 despite global challenges, says CDB

    BRIDGETOWN, Barbados – The Caribbean Development Bank (CDB) presented a sobering assessment of regional economic performance for 2025, revealing a significant growth deceleration attributed to mounting global uncertainties, climate disruptions, and fiscal pressures. The findings were delivered by Jason Cotton, the Bank’s Acting Deputy Director of Economics, during its Annual News Conference on March 3, 2026.

    Economic expansion across the Caribbean region, excluding the rapidly growing nation of Guyana, dwindled to a mere 0.6% in 2025, a sharp decline from the 1.4% growth recorded in 2024. Guyana’s extraordinary double-digit growth trajectory, though moderating, elevated the collective regional growth figure to 4.7% when included in the calculation.

    Mr. Cotton emphasized the heightened vulnerability of small, open economies to external shocks, stating, ‘What is more concerning in this moment is the persistence of uncertainty and the narrowing room for policy error.’

    The economic landscape was markedly diverse across member nations. Suriname, a major commodity exporter, benefited from sustained investments in its oil sector. In contrast, Trinidad and Tobago registered only modest growth. Service-dependent economies, particularly those reliant on tourism, experienced a noticeable slowdown. Jamaica faced a second consecutive year of economic contraction, severely impacted by the compounded destruction of Hurricanes Melissa and Beryl.

    A silver lining emerged in macroeconomic indicators, as inflation rates across the region plummeted to an average of 3.4%, aligning with global trends and representing a dramatic drop from the 9.7% peak in 2022. Labor markets also showed tentative improvement, with declining unemployment and rising participation, though significant disparities persisted for youth and women.

    Fiscal health emerged as a critical concern. Consolidation efforts faltered across many of the CDB’s 19 Borrowing Member Countries. The primary fiscal surplus narrowed to 1.3% of GDP (excluding Guyana), as government expenditures outpaced revenues. This surplus contracted further to just 0.2% when Guyana’s substantial capital investments were factored in. While the aggregate central government debt-to-GDP ratio saw a slight improvement to 46.6%, significant vulnerabilities remain entrenched, with nine nations carrying debt burdens exceeding 60%.

    Looking ahead to 2026, the CDB projects a period of cautious, modest growth. Regional GDP, excluding Guyana, is forecast to expand by approximately 1.1%. With Guyana’s economy anticipated to grow by over 20%, the overall regional growth is projected to reach 6.2%. This outlook remains fraught with risks, heavily contingent on volatile commodity prices, the pace of tourism recovery, and the persistent threats of global instability and climate-related shocks.

    In response to these challenges, the CDB outlined a strategic framework for building resilience. Key priorities include enhancing project implementation capacity, promoting economic diversification to reduce reliance on single industries, proactively investing in climate-resilient infrastructure, strengthening fiscal institutions to ensure debt sustainability, and making targeted investments in human capital development.

    Mr. Cotton concluded on a note of determined optimism, affirming, ‘Resilience is built through credible policy choices, stronger institutions, disciplined execution, and investment in our people, and regional solidarity. If we rise to meet this moment, we will shape a more stable, inclusive, and sustainable Caribbean future.’

  • CIBC Caribbean to end GBP cheques and drafts from March 31

    CIBC Caribbean to end GBP cheques and drafts from March 31

    CIBC Caribbean has officially declared it will terminate all issuance and processing services for British Pound Sterling (GBP) cheques and bank drafts effective March 31, 2026. This strategic move comes in response to the bank’s correspondent banking partner withdrawing support for GBP paper instruments, aligning with the accelerating global transition toward electronic payment solutions.

    Deepa Boucaud, Executive Director of Personal and Business Banking at CIBC Caribbean, emphasized that this modernization initiative reflects the institution’s commitment to international banking best practices. “Electronic payment systems provide superior security measures, accelerated processing speeds, and enhanced reliability compared to traditional paper-based methods,” Boucaud stated.

    The bank is actively encouraging customers to utilize its Online Banking platform and mobile application for GBP wire transfers, highlighting advantages including real-time transaction tracking, strengthened security protocols, and immediate settlement capabilities. Clients currently holding GBP cheques or drafts are advised to present these instruments at any branch location for encashment or deposit before the 2026 deadline.

    Recognizing that certain customer demographics may require additional support, CIBC Caribbean has committed to providing personalized assistance to senior clients and others who might face challenges adapting to digital transfer systems. The bank reaffirmed its dedication to client support throughout this technological transition, noting that expanded digital banking services represent the future of international financial operations.

  • CIBC speeds up digital banking: ‘20 minutes to open account’

    CIBC speeds up digital banking: ‘20 minutes to open account’

    In a significant leap for Caribbean banking digitization, CIBC Caribbean has launched a transformative digital onboarding platform that enables customers to open new deposit accounts in approximately 20 minutes. This breakthrough dramatically reduces the traditional paperwork and extended waiting periods that have long characterized the regional banking experience.

    The accelerated account opening service, already operational in Barbados, Antigua, St. Lucia, and St. Kitts and Nevis, represents the bank’s commitment to technological modernization. According to CEO Mark St Hill’s message in the recently published 2025 annual report, the enhanced client onboarding platform has fundamentally reshaped the customer experience for personal accounts.

    Beyond deposit services, CIBC has extended its digital transformation to lending operations through a newly upgraded online LoanStore. This innovation allows customers to complete digital loan applications and receive funds within ten minutes of approval—a previously unimaginable timeframe in conventional banking.

    The technological backbone of these advancements incorporates Artificial Intelligence and Advanced Automation systems, which the bank is actively integrating to strengthen operational controls and automate error-prone manual processes. This strategic implementation addresses both efficiency and accuracy in banking operations.

    Concurrent with this digital expansion, CIBC has significantly bolstered its cybersecurity infrastructure and implemented comprehensive fraud-awareness training programs for staff, recognizing the increased risks associated with accelerated digital banking services.

    Financially, the bank navigated a challenging 2025 fiscal year marked by a unfavorable US interest rate environment that negatively impacted net interest income. Operating expenses from continuing operations increased by 6% ($26 million) compared to 2024 levels. The institution faced additional headwinds including losses from non-core investments in Cayman Islands-based structured notes, a fraud incident in Trinidad, and significant credit losses.

    Despite these challenges, CIBC Caribbean achieved an adjusted net income of $213.5 million (down from $285.2 million the previous year) and maintained a strong financial position through what Chairman Brian McDonough characterized as exceptional leadership and staff resilience across the Caribbean region.