#Toronto, ON – April 13, 2019 – Canada – IGlobal growth is slowing as the economy works through a soft patch. Early signs suggest the worst of the slowdown might be behind us. The expansion is in a delicate situation. Investors are nervous and maintaining confidence is key to a continued expansion. The global economy is particularly vulnerable to policy missteps, notably President Trump’s continued threats to disrupt US trade flows.
“While we continue to think the soft patch we are going through will be temporary, the global economy remains in a delicate position,” said Jean-François Perrault, Senior Vice President and Chief Economist at Scotiabank. “At this point in the cycle, confidence is key to sustaining the expansion, and Trump’s misguided efforts to make America great risk achieving the opposite.”
Highlights of Scotiabank’s Global Outlook include:
· Canada: Above-potential growth to resume in Q2 as the factors contributing to the soft patch in Q4 2018 and Q1 2019 are reversing.Growth is expected to slow modestly to 1.6% during 2019 before rising to 2.1% in 2020.
· United States: A gradual US GDP growth slowdown (2.9%/2.4%/1.9% in 2018/19/20) is expected on the back of the waning boost from fiscal stimulus.
· United Kingdom: While we expect that the UK and the EU will avoid a hard Brexit, we forecast that economic growth in Britain will remain sluggish in the near-term amid lingering geopolitical uncertainty and as the economy adjusts to a post-Brexit world.
· Eurozone: Real GDP growth will slow in 2019 owing to global trade and geopolitical uncertainty as well as certain transitory factors impacting the European industrial sector. Domestic demand in the euro bloc should, however, remain resilient despite external headwinds.
· Mexico: heightened uncertainty is leading to slower growth, with GDP expected to rise by 1.4% in 2019.
· China: A gradual deceleration is underway, but recent policy measures to raise demand are starting to bear fruit.
· Commodities: Healthy global economic growth provides a solid demand backdrop for commodities through 2020, allowing fundamentals to reassert commodity-specific price paths over the coming years
Read Scotiabank’s Global Outlook online here.
Scotiabank provides clients with in-depth research into the factors shaping the outlook for Canada and the global economy, including macroeconomic developments, currency and capital market trends, commodity and industry performance, as well as monetary, fiscal and public policy issues. Follow this research on Twitter at @ScotiaEconomics.
Press Release: Scotiabank
Barbados to Host 41st Caribbean Travel Marketplace this Spring
By Sherrica Thompson
#Barbados, February 2, 2023 – Barbados has been selected to host the 41st edition of the Caribbean Hotel and Tourism Association’s (CHTA) Caribbean Travel Marketplace. The event will be held at the Lloyd Erskine Sandiford Centre in Bridgetown from May 9 -11, and it is expected to build on the success of the 40th staging held in Puerto Rico last fall.
CHTA President Nicola Madden-Greig, who made the announcement recently, said it’s the first time in the organization’s history that the association’s largest annual event, which brings together buyers and sellers of the region’s tourism products and services, will be staged in Barbados.
“CHTA has a very strong relationship with both public and private sector stakeholders in Barbados, and as we position the region’s top earner for robust growth this year, we are delighted to lock arms with our Bajan partners to drive business to the Caribbean,” she stated.
Noting that: “This year’s Marketplace will also provide unique access to the Eastern Caribbean for buyers and tour operators as the region places a strong focus on the revival of multi-destination travel.”
Minister of Tourism and International Transport of Barbados Ian Gooding-Edghill, said the Barbados tourism industry was undergoing a major renaissance in the post-COVID environment, and the timing could not be better to welcome Caribbean Travel Marketplace to local soil.
“We are honoured to host such a preeminent gathering of tourism stakeholders from around the world,” Minister Gooding-Edghill said, noting that the meeting aligns with Barbados’ value offerings, which appeal, among others, to the very important MICE [Meetings, Incentives, Conferences and Exhibitions] market.
The launch of the first Caribbean Travel Forum & Awards, a highlight of the Puerto Rico meeting, will return for a second edition and will be held in Barbados on Tuesday, May 9, 2023, ahead of the official opening ceremony of Caribbean Travel Marketplace.
The Forum will also focus on the business of tourism, and business appointments will be conducted on Wednesday, May 10 and Thursday, May 11.
Over 150 delegates, including Ministers of Tourism and key private sector leaders, engaged in the Caribbean Travel Forum last year.
National Food Policy to be created in the Bahamas
By Shanieka Smith
#TheBahamas, February 2, 2023 – A new initiative by the Ministry of Agriculture, Marine Resources and Family Island Affairs in the Bahamas will see the creation of a National Food Policy geared towards ensuring food security on the island.
“This agricultural policy would encompass a holistic approach and incorporate regulations, legislation, and other aspects to assist the farmers who have not really gotten the attention they deserve for a long time,” said the Minister of Agriculture, Marine Resources and Family Island Affairs, Hon. Clay Sweeting.
Other initiatives within the agriculture sector will also be implemented, such as the digitalization of applications and forms, which will make farming more efficient.
Clay said, “we have already digitalized for the most part the Department of Marine Resources and soon we will unveil new services such as dog licences, import permits, and other services needed for a successful agricultural sector.”
The construction of the Cultivation Centres (TCC) in Eleuthera and New Providence with produce exchange, food processing kitchens and farm stores will continue.
Sweeting said he hopes these initiatives will help to decrease the country’s yearly $1 billion food import bill.
The Incredible Story of David Avido of Kenya, 24 Year old designing for the Grass Roots to the Stars
By Dana Malcolm
#Africa, February 2, 2023 – One Kenyan designer began a sewing business out of the slums where he was born; now he dresses some of the Caribbean and Africa’s most famous faces.
Born the oldest son of a single mother and from Kibera Nairobi, David Avido Ochieng did not have an easy start. In Kibera, the largest urban slum in East Africa opportunities for international success are hard to come by and yet Avido can now say he has dressed the likes of former Kenyan President Uhuru Kenyatta, Beyoncé, Chronixx, Romain Virgo, Tarrus Riley, Chris Martin, Ty Dolla Sign, Koffee and many more.
As explained on his website, David dropped out of school to work and support his family quite young. In just first form he was working on a construction site but he knew he wanted more from life. After quitting his job he danced and saved what he could and tried his best to complete his education.
He told Vogue magazine: “When I started dancing I used to save money in order to go back to high school, with the little that I could get from dancing and my mom’s money from doing work as a house help, we were able to raise 15,000 shillings and with that, I joined an adult school and skipped forms two, three and four.”
David picked up a sewing machine to make costumes and realized his talent. By 2015, his brand LookslikeAvido was born. He completed a fashion & design diploma at Buruburu Institute of Fine Arts and began to sew incredible pieces right at home in Kibera. Even as his brand is globally recognized, Kibera is where his workshop remains; David says, his homeland is his great inspiration.
“There is no barrier if you believe in your talent and take the next step. I want to encourage and create beauty, where people don’t expect.”
Talented and thoughtful Avido is well aware of the stereotypes surrounding him, his home and the black community globally.
“We know about injustice and violence, prejudice, racial and social discrimination – we experience it within Kenya and we experience it globally, as people look at us as the poor, the uneducated, the needy,” he said.
Featured in Vogue, CNN and other international publications, Avido remains connected to his origins in a tangible way and as his success grows his roots just go deeper. Twenty per cent of all sales of his jackets and other clothing items go directly back to Kibera; his website explains that all the tailoring, product photoshoots and collaborations ‘is all done here in Kibra.’
There is no fabric waste from his garments, instead, scraps are repurposed into masks and shopping bags for residents, all his tailors are local residents, a portion of profits are used to pay school fees and Avido and his team put in extra time to make school uniforms as well.
On his website, is a photo of him sitting around a sewing machine, his worktable resting on hard-packed earth with presumably a group of family and friends surrounding him, a source of pride. The introspective photograph could have been taken in Nairobi, Trinidad or Barbados, so nostalgic is the picture, the bench and the story of community success that it represents.
In a video posted to his YouTube, David sits at his new work desk, and beside him hangs a rack of clothes in the cramped space that serves as his kitchen as well.
“I’m the firstborn of Kibera,” He explains, “Every kid in Kibera is looking up to me— my main dream is to open up a place where I can inspire people to work.”
David has a dozen employees and is listed in Beyonce’s directory of black businesses; with an uncommon wisdom, the designer knows that his successes so far are not parking spaces but rather stepping stones as he faces his future announcing that the journey, for him, continues.
FIND US ON FACEBOOK
Caribbean News3 days ago
CARICOM condemns violence against police in Haiti
Caribbean News2 days ago
Murder Convicted, Malik Cox loses appeal at Privy Council
Crime1 week ago
Murder Victim Identified
Government1 week ago
DELANO ARTHUR APPOINTED AS COMMISSIONER OF ENERGY AND UTILITIES
Bahamas News1 week ago
Statement From The Ministry of Foreign Affairs – On Order For All Bahamians To Leave Haiti
Bahamas News1 week ago
UB Statement: Portia M. Smith Building Under Assessment
Caribbean News1 day ago
Guyana secures cryotherapy machines to help fight cervical cancer
Caribbean News1 week ago
JAMAICA: Multibillion-Dollar Shipyard Project Launched