标签： Trinidad and Tobago

Trinidad and Tobago’s economic future hinges on the development of a robust and inclusive capital market that can mobilize private investment and bolster public confidence. This was the central message at the TT Stock Exchange’s Capital Markets and Investor Conference 2025, held on October 24 in Port of Spain. Key stakeholders, including government officials and private-sector experts, emphasized the need to shift from state-driven growth to private-sector-led development. Dr. Kennedy Swaratsingh, Minister of Planning, Economic Affairs and Development, highlighted the government’s role in creating an enabling environment through legislation and policy, while urging broader participation in the TT Stock Exchange (TTSE) to enhance liquidity. Finance Minister Davendranath Tancoo announced initiatives such as a state-sponsored Real Estate Investment Trust and a $1 billion National Investment Fund bond, aimed at democratizing ownership and stimulating the domestic market. Central Bank Governor Larry Howai underscored the importance of balancing monetary policy with capital-market growth, while exploring digital innovations like tokenization and Central Bank Digital Currencies (CBDCs). Anthony Zamore of PricewaterhouseCoopers (PwC) discussed the transformative potential of AI, blockchain, and tokenization in reshaping global finance, urging Trinidad and Tobago to embrace these technologies to attract global investors. Andre Jeffers of Ansa McAL called for bridging the gap between private businesses and public markets to ensure the sustainability of generational enterprises. The conference concluded with a unified call for immediate action to implement these reforms and drive the nation’s next phase of economic development.

Tobago’s tourism industry, a cornerstone of Trinidad and Tobago’s economic diversification strategy, is grappling with unprecedented challenges. A combination of new taxes, a prolonged state of emergency, and escalating regional tensions following US military actions has severely impacted the sector. Hotel occupancy rates in Tobago have plummeted by nearly 40% ahead of the Christmas season, according to Reginald Mac Lean, President of the Tobago Hotel and Tourism Association (THTA).

Mac Lean highlighted that the state of emergency declared on December 30, 2024, coupled with recent geopolitical developments, has led to significant financial losses for the industry. He acknowledged the government’s efforts to address crime but noted that the current measures have had a detrimental effect on tourism. Businesses across the board, including hotels, guest houses, restaurants, and tour operators, are feeling the strain.

The situation is further exacerbated by a 100% increase in duties on alcohol, which has led to substantial price hikes. This has particularly affected all-inclusive packages, making it difficult for Tobago to compete with other Caribbean destinations. Dianne Joseph, President of the TT Coalition of Services Industries (TTCSI), emphasized the broader psychological impact of global instability on international travel, which is crucial for Tobago’s tourism.

Despite these challenges, there are glimmers of hope. Barry Bidaisee, Director of the Tourism Industry Association of TT, reported that Trinidad is experiencing more promising activity for the upcoming Christmas and Carnival season. He also welcomed the government’s plans to reopen the Hotel School in Chaguaramas and develop sports tourism, which could provide new opportunities for growth.

Both Mac Lean and Joseph stressed the importance of resilience and strategic adaptation to navigate these turbulent times. They believe that by leveraging Tobago’s unique cultural assets and fostering collaboration, the industry can overcome current adversities and continue to thrive.

First Citizens Group has officially named Jason Julien as its new Group CEO, effective October 22, as disclosed in a legal notice published on the Trinidad and Tobago Stock Exchange’s website on October 29. Julien, a seasoned banking and finance professional with over 25 years of experience, succeeds Karen Darbasie, who retired on October 21. Julien holds an MBA from Edinburgh Business School, Heriot-Watt University, and a bachelor’s degree in management studies from the University of the West Indies. He is also a Chartered Financial Analyst and holds a Certificate of Financial Advisors from the Institute of Business and Finance. Sana Ragbir, the General Manager for Retail and Commercial Banking, will continue to serve as Group Deputy CEO of Business Generation. Darbasie’s retirement followed her approved vacation leave starting August 21, during which Julien acted as interim Group CEO. The transition occurred amidst broader organizational changes, including the resignation of the entire board of directors on October 7, just before a special general meeting to elect a new board and CEO. Finance Minister Davendranath Tancoo had earlier expressed concerns about the bank’s operations and appointed a new board to First Citizens Holdings, the majority shareholder of First Citizens Group.

In an era marked by economic uncertainty, many individuals are grappling with the complexities of financial planning. Rising living costs, inflation, and significant government reforms, such as amendments to the National Insurance System (NIS), have led to widespread procrastination in making crucial financial decisions. However, delaying these decisions is not a viable strategy; it is a silent cost that undermines both financial security and peace of mind.

Procrastination in financial planning can have profound and lasting consequences. Here are four key areas where delay can be particularly detrimental:

1. **Health Cannot Be Bought Later**: Insurance products like life, health, and critical illness coverage are most effectively purchased when one is in good health. Insurability is directly tied to current health conditions. Delaying action can result in higher premiums or, in the worst-case scenario, render one uninsurable if a serious illness develops.

2. **Time Directly Affects Cost**: Age is a critical factor in determining insurance premiums. As individuals grow older, the cost of coverage increases significantly. For instance, a 33-year-old male might secure a $500,000 critical illness policy for approximately $288 monthly. By age 43, the same coverage could cost around $572 monthly—nearly double the initial amount.

3. **The Hidden Risk of Inaction**: Postponing financial planning leaves families vulnerable to life’s uncertainties. Without adequate coverage, a single unexpected event can jeopardize years of financial progress and savings. The emotional toll of losing a loved one is immeasurable, but the ensuing financial hardship can be equally devastating.

4. **Peace of Mind is Priceless**: Taking timely action to secure your family’s financial future provides invaluable peace of mind. It replaces worry with assurance, allowing life to be lived with greater ease, confidence, and purpose.

In conclusion, the cost of waiting far outweighs the cost of action. Every day of delay is a lost opportunity for growth, protection, and peace. The best time to start was yesterday; the second-best time is today.

Furness Shipping & Marketing Ltd, a subsidiary of the Furness Group, has broadened its seafood product line by introducing premium salted smoked split herring under its Atlantic Pearl brand. Known for its boneless salted fish in vacuum-sealed packaging, the brand has now ventured into smoked herring, a staple in Trinidad and Tobago’s culinary scene. At a recent launch event attended by chefs and retailers, Patrick A Ferreira, the company’s executive chairman, emphasized the popularity of smoked herring and detailed the process of importing fresh split herring, commonly referred to as kippers. Ferreira noted that kippers are favored over alternatives like bloaters or boneless versions, which can lose flavor during processing. Additionally, he revealed plans to diversify the seafood range further, including blue shark, fresh salmon, white fish, and red snapper. Leveraging its extensive expertise in cold storage, Furness ensures efficient preservation of chilled and frozen seafood products.

The global influencer industry is undergoing a seismic transformation, driven by the rise of artificial intelligence (AI), stricter government regulations, and growing public skepticism. What began as a marketing revolution rooted in authenticity and relatability is now being redefined by these powerful forces, compelling brands and creators to adapt or risk irrelevance.

For decades, traditional media like print, radio, and television dictated consumer behavior. The advent of search engines and social media disrupted this dynamic, shifting trust from corporate logos to human influencers. However, the influencer era is now giving way to a new paradigm: AI-driven, agentic shopping. Consumers are increasingly turning to intelligent assistants like ChatGPT, Perplexity, and Amazon Rufus for personalized, data-driven recommendations, bypassing traditional influencer content.

AI’s impact is profound. ChatGPT, for instance, processes over one billion daily searches, a milestone it achieved nine years faster than Google. While Google still dominates with 14 billion daily searches, the trajectory suggests ChatGPT could match its scale by 2030. This shift represents one of the fastest behavioral changes in digital history, as consumers move from passive searching to engaging in intelligent, two-way dialogues with AI tools.

Simultaneously, governments worldwide are cracking down on misinformation. In China, influencers must now hold professional qualifications to discuss topics like finance, health, and education. The UAE mandates that paid influencers register, obtain permits, and adhere to advertising disclosure rules. These measures aim to restore trust and ensure transparency in the digital space.

Audiences, meanwhile, are experiencing influencer fatigue. Over-commercialization and performative authenticity have eroded trust, with many consumers feeling misled by influencers promoting products they don’t use. However, this doesn’t signal the end of content creation. The creator economy is thriving, with creators who prioritize expertise, transparency, and storytelling gaining real influence.

AI is now the bridge between the fading influencer era and the emerging creator economy, connecting consumers with trustworthy creators who deliver verified, personalized insights. For businesses and marketers, especially in the Caribbean, the challenge is not whether they can adapt but how quickly they can do so to remain relevant in this new age of authority.