分类: business

  • Sunrise Airways launches direct Antigua–Dominican Republic flights

    Sunrise Airways launches direct Antigua–Dominican Republic flights

    In a significant move to bolster Caribbean connectivity, Sunrise Airways has inaugurated a pivotal new air corridor linking Antigua and Barbuda directly with the Dominican Republic. The airline commenced its twice-weekly non-stop service this Tuesday, establishing a direct link between Las Américas International Airport (SDQ) in Santo Domingo and V.C. Bird International Airport (ANU) in Antigua.

    The flight schedule is strategically designed to facilitate both leisure and business travel. Every Tuesday, the service departs Santo Domingo at 1:00 PM local time, touching down in Antigua at 2:35 PM. The return flight from Antigua is scheduled for a 3:20 PM departure. The Saturday service offers an earlier schedule, with a 9:00 AM takeoff from the Dominican Republic leading to a 10:35 AM arrival in Antigua; the aircraft then departs for its return journey at 11:20 AM.

    This enhanced air linkage has been met with strong approval from tourism and aviation authorities in both nations. Officials project that the route will serve as a critical engine for economic and cultural growth, significantly boosting intra-regional travel. The direct connection is anticipated to catalyze the tourism sector by simplifying access for travelers, while concurrently fostering stronger ties in trade and cultural exchange. This initiative represents a concrete step towards deeper regional integration within the Caribbean community, making travel more efficient and accessible for citizens and visitors alike.

  • Oorlogsspanningen Midden-Oosten drijven olieprijs omhoog

    Oorlogsspanningen Midden-Oosten drijven olieprijs omhoog

    Escalating geopolitical conflicts in the Middle East have triggered a significant surge in international oil markets, with Brent crude prices climbing to approximately $81 per barrel—the highest level recorded since early 2025. This sharp increase of nearly 5% within days reflects growing market anxiety over potential disruptions to global energy supplies.

    The current price surge stems primarily from heightened tensions involving Iran, Israel, and the United States, raising concerns about the security of oil transportation through the critical Strait of Hormuz. This strategic maritime passage facilitates approximately 20% of global oil trade, making it particularly vulnerable to geopolitical instability.

    Shipping companies have already adopted more cautious approaches to transporting oil through the region following recent conflict escalation. Reduced maritime activity and heightened security concerns regarding oil tankers have created immediate market reactions, demonstrating how quickly energy prices respond to geopolitical developments.

    Energy analysts warn that prolonged conflict duration or actual restrictions on oil transit from the Gulf region could drive prices toward the $100 per barrel threshold. Such development would have cascading effects across global economies through increased transportation costs, higher electricity prices, and ultimately elevated prices for food and consumer goods.

    Nations heavily dependent on fuel imports, including Suriname where consumers will feel direct impact at gasoline pumps, face potentially higher inflation rates and additional economic pressure. The interconnected nature of global energy markets means that regional conflicts quickly translate into worldwide economic consequences.

  • Kittitian Businessman Wins EC$4,000 in Berger Paints “More Colourful Christmas Memories” Promotion

    Kittitian Businessman Wins EC$4,000 in Berger Paints “More Colourful Christmas Memories” Promotion

    In a festive culmination of Berger Paints’ seasonal marketing initiative, Kittitian entrepreneur Mr. Damian Fraites has been announced as the grand prize recipient in the “More Colourful Christmas Memories” promotion. The successful business owner secured EC$4,000 in prize money following a random selection process that drew from 955 qualified entries across St. Kitts and Nevis.

    The promotional campaign, jointly administered by Berger Paints and authorized distributor TDC Home and Building Depots, ran throughout November and December 2025. The initiative automatically enrolled customers who purchased Berger paint products in one-gallon or five-gallon containers at participating retail locations. The program offered multiple tiers of rewards, including branded merchandise, with the substantial cash prize serving as the campaign’s ultimate award.

    Mr. Fraites, a long-standing patron of Berger products, described the unexpected windfall as both “timely and meaningful.” In his acceptance statement, he expressed particular satisfaction that his brand loyalty had yielded such substantial returns, noting that the prize enhances his current business projects and development initiatives.

    The senior sales team at TDC Home and Building Depot formally presented the monetary award to Mr. Fraites in a ceremony recognizing his promotional success. Both Berger Paints and TDC emphasized that the collaboration demonstrates their ongoing commitment to delivering value-added customer experiences through quality products, creative engagement initiatives, and tangible consumer benefits.

    Beyond the immediate financial incentives, the holiday promotion sought to inspire various consumer segments—including professional painters, interior designers, contractors, homeowners, and do-it-yourself enthusiasts—to revitalize their environments with premium paint solutions. The initiative effectively merged commercial objectives with seasonal celebration, encouraging community participation while promoting aesthetic enhancement through trusted products.

  • BlackRock-led consortium to acquire AES, key player in Dominican energy sector

    BlackRock-led consortium to acquire AES, key player in Dominican energy sector

    In a landmark transaction reshaping the global energy landscape, a consortium of institutional investors led by BlackRock’s Global Infrastructure Partners has reached a definitive agreement to acquire Virginia-based AES Corporation. The equity valuation of $10.7 billion represents a substantial 40.3% premium over recent trading prices, with the total enterprise value reaching approximately $33.4 billion when accounting for outstanding debt.

    The investor group, which includes Swedish private equity firm EQT alongside other major financial institutions, will pay $15 per share in a deal structured to conclude between late 2026 and early 2027, pending customary regulatory approvals. This acquisition occurs against the backdrop of surging electricity demand across the United States, particularly driven by the exponential growth of data centers requiring massive power resources.

    AES brings substantial assets to the transaction, boasting a global generation portfolio of 32.1 gigawatts—with renewables constituting 64% of this capacity. The company reported $12.3 billion in revenue for 2024, demonstrating its robust market position. Corporate leadership indicated that transitioning to private ownership would provide enhanced financial flexibility to address capital requirements and accelerate expansion initiatives within power generation and utility operations.

    The transaction carries particular significance for the Dominican Republic, where AES maintains considerable presence through its local subsidiary AES Dominicana. The company operates critical energy infrastructure including the AES Andrés power plant—a cornerstone natural gas facility—and the strategically vital LNG terminal at Boca Chica. Additional involvement includes participation in the Eastern gas pipeline consortium and operations at Los Mina and Itabo power plants, the latter managed jointly with Dominican state entities.

    AES Dominicana’s current portfolio encompasses 392.5 megawatts of solar generation, 52.5 megawatts of wind capacity, 11 megawatts of storage systems, and 319 megawatts of natural gas-fired generation. The company is further developing an additional 572 megawatts of renewable projects alongside a 138.1 megawatt battery energy storage system, positioning it as a pivotal contributor to the nation’s energy diversification objectives.

    While immediate operational changes appear unlikely, the infusion of capital from financially substantial global investors may potentially influence future energy infrastructure development in the Dominican Republic. This occurs as the country experiences continued electricity demand growth and pursues aggressive renewable energy expansion as a national priority.

  • OWOS-voorzitter haalt uit naar EBS-directeur: Situatie was slechts een kwestie van tijd

    OWOS-voorzitter haalt uit naar EBS-directeur: Situatie was slechts een kwestie van tijd

    A severe leadership crisis has erupted at Energiebedrijven Suriname (EBS), the national energy company, with union representatives accusing General Director Brunswijk of authoritarian management practices and procedural violations. Marciano Hellings, President of the OWOS trade union, revealed that tensions within the company’s executive leadership had been building for months before reaching a breaking point.

    According to Hellings, the general director has created a toxic work environment characterized by intolerance for dissent and consistent disregard for established protocols. “He determines what must be done with little respect for existing agreements and procedures,” Hellings stated in an interview with Starnieuws. The situation has deteriorated to the point where it has affected not only union relations but also caused significant friction within the Board of Commissioners.

    The union leader detailed multiple concerning practices under Brunswijk’s leadership, including withheld promotions and periodic salary increases, intimidation tactics, threats of suspension, and termination notices. Hellings also reported instances of workplace polarization, alleging that the director actively pits employees against one another as part of his management strategy.

    Of particular concern is the stalled collective labor agreement negotiations for 2025. Despite a ruling from the Mediation Council in January, management has failed to formalize the agreement. Hellings warned that continued inaction could lead to organized labor actions from the unionized workforce.

    Hellings has called upon President Simons, as representative of the company’s shareholder, to intervene decisively. The union president questioned Brunswijk’s fundamental competency to lead the organization, citing missing strategic plans, overdue annual reports, and personnel appointments that allegedly bypassed standard procedures.

    The current Board of Commissioners has received some praise from Hellings for their willingness to address the issues, unlike previous boards that avoided confrontation. However, the union maintains that only presidential intervention can resolve the deepening institutional crisis at the vital energy provider.

  • Trinidadian Businessman Defends Name After Scam Accusations

    Trinidadian Businessman Defends Name After Scam Accusations

    A contentious dispute has erupted in San Ignacio between local vendors and Trinidadian entrepreneur Irwin Denis following the abrupt postponement of a promised Food and Soca Tour event. Approximately sixty small business owners who paid between fifty and one hundred dollars per booth for participation now allege financial misconduct, while Denis maintains the cancellation resulted from unforeseen business complications rather than fraudulent intent.

    The controversy originated in December when Denis, formerly affiliated with the Island Run Delivery app franchise, initiated planning for a multi-day festival designed to promote local commerce through digital platform integration. Vendors were guaranteed exposure through a system where attendees would purchase goods exclusively via the application. However, the event encountered severe turbulence when Denis indefinitely postponed the festival without providing alternative dates or immediate refunds.

    Howard Keaton, proprietor of Mecha’s and listed as an official sponsor, expressed profound confusion regarding the event’s collapse. “The absence of rescheduled dates immediately raised red flags,” Keaton stated, emphasizing the lack of transparency surrounding the cancellation. Further investigations revealed that neither Falcon Field nor Victor Galvez Stadium—initially proposed venues—had received formal booking requests, deepening suspicions among participating vendors.

    Denis attributes the cancellation to financial constraints exacerbated by his severed relationship with Island Run Delivery. According to his account, the parent company terminated his franchise access due to outstanding fees, demanding six months’ advance payment for service restoration. This development, Denis claims, undermined the event’s core objective of promoting the very platform that withdrew support.

    In response to mounting pressure, Denis has committed to reimbursing all vendors by month’s end and developing an independent application to bypass third-party platform fees. He further announced intentions to host rescheduled events with waived participation fees for affected vendors, though skepticism prevails among the business community.

    Flora Choc of Flora’s Kitchen and Catering Service revealed that vendors have consulted legal authorities, receiving recommendations to pursue civil litigation if refunds remain unresolved. This collective grievance has catalyzed the organization of an alternative vendor-led event, the “Bounce Back Bazaar,” demonstrating diminished confidence in Denis’s proposals.

    Keaton advises enhanced due diligence for businesses engaging with unfamiliar promoters, stressing verification of business registration, physical addresses, and banking credentials before financial commitments. Meanwhile, Denis has issued public apologies, characterizing the incident as an unintended consequence of corporate disputes rather than deliberate deception.

  • Susana Vanzie Named Interim CEO of National Bus Company

    Susana Vanzie Named Interim CEO of National Bus Company

    The Belizean government has officially launched the National Bus Company, marking a significant transformation of the country’s public transportation system. Susana Vanzie, renowned co-founder of the modern Floralia bus service, has been appointed as interim Chief Executive Officer for an initial three-month probationary period. Her performance during this trial phase will determine whether she assumes the role permanently.

    The newly established seven-member board of directors represents a blend of governmental oversight and industry expertise. Chaired by Ministry of Transportation director Anna Loague, the board includes fellow ministry director Jeaneane Neil, Senator Elena Smith, educator Miriam Paz from the Ministry of Education, and three prominent operators: Jamie Williams from James, Sergio Chuc from West Line, and Mr. Codd representing northern smaller operators.

    Transport Minister Dr. Louis Zabaneh addressed several critical aspects of the transition. Regarding employment security for terminal staff, he acknowledged initial communication failures that caused anxiety among public service workers. The minister clarified that employees have a six-month transition period to decide between remaining in government service or applying for positions with the new company, with appropriate training provided for those who transition.

    Private operators who opted not to join the national system raised concerns about competitive disadvantages, specifically requesting equivalent duty breaks and fuel tax relief granted to the National Bus Company. Minister Zabaneh emphasized that these incentives were exclusively available to participants in the consolidated national system, and non-participating operators must comply strictly with existing service permit regulations.

    The ministry also announced forthcoming stricter enforcement against overcrowded buses with standees, identifying this as both a safety hazard and a systemic issue rooted in cash collection practices. The new approach will involve better route management and bus allocation to eliminate dangerous overcrowding while maintaining service efficiency.

    The National Bus Company represents Belize’s most ambitious public transportation reform, aiming to create a unified, modernized system that balances operational efficiency, passenger safety, and fair labor practices.

  • HRCU Makes Capital City Debut After Years of Planning

    HRCU Makes Capital City Debut After Years of Planning

    After years of strategic development, the Holy Redeemer Credit Union (HRCU) has achieved a significant milestone with the inauguration of its premier branch in Belize’s capital city of Belmopan. The grand opening ceremony, held on Saturday, marked the culmination of extensive planning and represented a tribute to the institution’s late former president, Fred Smith, whose visionary leadership catalyzed this expansion.

    The newly constructed Fred Smith Building now serves as HRCU’s operational hub in the capital, featuring modern banking facilities across its first two floors while incorporating an investment portfolio through third-floor rentals. The inauguration ceremony gathered community leaders, HRCU executives, and numerous members to celebrate both the architectural achievement and the legacy of the man who inspired it.

    Acting Manager Clement Usher reflected on Smith’s dedication, noting his unwavering commitment to operational excellence and member service. Vice President Dr. Carol Babb, a prominent figure in Belize’s financial education landscape, credited Smith with personally recruiting her to contribute her expertise to the credit union’s educational initiatives eight years ago.

    With assets exceeding $720 million, HRCU demonstrates robust financial health as it expands its geographical footprint. President Wendy Castillo outlined ambitious growth targets, projecting a 10% annual increase in membership from Belmopan’s existing base of 2,800 members. The strategic location eliminates the previously necessary journey to Belize City for Cayo District residents, who collectively maintain $47 million in savings and $8 million in loans with the institution.

    Credit Committee Member Jermaine Hyde emphasized the significance of bringing HRCU’s comprehensive service portfolio to the capital region, particularly highlighting the benefits of financial stability through savings. Member Service Representative Chanel McCulloch noted that the new branch addresses an eleven-year demand from Cayo-based members who previously faced logistical challenges accessing services in Belize City.

    This expansion represents more than physical growth—it embodies HRCU’s commitment to enhancing financial accessibility, strengthening community economic foundations, and continuing Fred Smith’s legacy of empowering members through financial services across western Belize.

  • HRCU Opens Its Doors in Belmopan Branch

    HRCU Opens Its Doors in Belmopan Branch

    In a significant development for financial accessibility in western Belize, Holy Redeemer Credit Union (HRCU) has officially inaugurated its first branch in Belmopan, effectively ending the arduous journey to Belize City for thousands of its members. The strategic establishment, situated within the newly constructed Fred Smith Building, marks a pivotal moment for the financial institution’s expansion strategy.

    For numerous years, members residing in the Cayo District and surrounding western regions faced considerable travel inconveniences to access essential banking services exclusively available in Belize City. This new facility now positions comprehensive financial services directly within the capital’s central hub, dramatically improving convenience for the local membership base.

    The branch’s location holds profound symbolic significance, serving as a tribute to the late former president Fred Smith, who vigorously advocated for the credit union’s expansion into Belmopan. Acting Manager Clement Usher reflected on Smith’s enduring legacy, noting his unwavering dedication: ‘During his presidency, he maintained a constant presence at the office to ensure seamless operations. He was fundamentally committed to excellence, consistently ensuring we performed to the best of our capabilities.’

    The newly operational branch currently serves approximately 2,800 members from the Belmopan area, with leadership expressing ambitious growth targets. President Wendy Castillo outlined the institution’s forward-looking vision, indicating objectives for sustained annual membership growth of approximately ten percent. This expansion not only enhances service delivery but also stimulates local economic activity through improved financial inclusion.

  • Hakrinbank boekt SRD 438 miljoen winst en versterkt financiële positie in 2024

    Hakrinbank boekt SRD 438 miljoen winst en versterkt financiële positie in 2024

    Suriname’s Hakrinbank has demonstrated robust financial health in its 2024 fiscal year, achieving a net profit of SRD 438 million while significantly strengthening its capital position. The institution’s solvency ratio climbed to 22.3%, substantially exceeding the minimum requirement set by the Central Bank of Suriname.

    The solvency ratio, which measures a bank’s capital adequacy and financial buffer capacity, showed notable improvement from its 2023 level of 20.3%. Shareholders unanimously approved the 2024 financial statements during Monday’s general meeting, reflecting confidence in the bank’s strategic direction.

    CEO Rafiek Sheorajpanday attributed this success to the bank’s sustained investments in human resources, digital transformation, governance frameworks, and risk management systems. The core banking business experienced substantial growth alongside an expanding credit portfolio, with positive trends continuing into 2025 and 2026 according to management forecasts.

    Financial Director Coenraad Valk confirmed the accuracy of previous projections, noting that the credit business recovery was driven by increased investment activity and improved margins. Board Chair Sharmila Jadnanansing highlighted four strategic priorities guiding the bank’s oversight: good governance, financial strength, human capital development, and digital advancement.

    A significant development occurred with the reduction of the Surinamese government’s shareholding in Hakrinbank, which resulted in substantial oversubscription during the share sale—a strong market endorsement of the bank’s future prospects. This move also ensures compliance with the country’s Banking and Credit Supervision Act.

    The shareholders approved the reappointment of commissioners Simone Oostwijk and Montague McLeod, while welcoming new commissioners Amisha Dewdath and Veditam Bishoen, pending regulatory approval from the Central Bank.

    On the commercial front, Deputy Director Claire Wydh announced continued digitalization investments, including enhancements to the mobile banking application and the November 2025 pilot launch of a corporate banking platform. The Mopé application is undergoing customer-experience based improvements. Additionally, Hakrinbank joined other local financial institutions in signing a sustainability protocol for inclusive financing on February 20.

    As the bank approaches its 90th anniversary this year, it emphasizes its historical role as Suriname’s premier business bank. The 2024 annual report underscores the institution’s commitment to digital innovation and service simplification.