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CIBC FirstCaribbean Signs On For Three More Years of Support to UWI

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#Barbados, September 9, 2021 – CIBC FirstCaribbean has officially extended its partnership with The University of the West Indies, Cave Hill Campus with the signing of a memorandum of understanding for three years.

The agreement, which was signed on Tuesday August 17, 2021, is for the period 2021/22 to 2023/24, and will cover four areas: support and development of UWI programmes and students around the region; enhancement of research in Banking and Finance at The UWI; the joint pursuit of mutually beneficial business opportunities, and entrepreneurship and innovation.

The bank has contributed over US$2 million to The UWI to support various initiatives since the first MOU was signed between the two institutions in 2003.

Chief Executive Officer of CIBC FirstCaribbean, Colette Delaney stated that the bank cherishes its longstanding relationship with The UWI, and was pleased to formally extend it for another three years.

She added that entrepreneurship and innovation will be the key drivers of the post-COVID economy, and The UWI is headed in the right direction.

“We see the scholarships, research grants, public lectures and other programmes and activities offered under this MOU as tangible demonstrations of our commitment to this region and its development.

“Investment in and support of our region’s people especially the youth remains one of the key pillars of our charitable arm the FirstCaribbean ComTrust Foundation of which I have the honour to chair and which is providing the funding for the programmes and projects in this MOU,” Delaney said

Principal of the Cave Hill Campus, Professor Clive Landis, lauded the bank’s support for the University over the past 18 years, and said he is looking forward to the two institutions forging even closer ties.

“As a result of the bank’s generosity, several of our students who were experiencing financial challenges have been able to realise their dream of attaining a university education.  Many of these have gone on to make a meaningful contribution in this region and further afield.

“It is clear then, in the current public health climate, that such assistance is needed now more than ever, as so many across the Caribbean and the world have suffered severe financial losses as a result of the pandemic,” he said. 

Landis noted that The UWI would need to innovate and seek new business perspectives if the institution is to survive.  In that regard, he announced the launch of the Campus’ latest entrepreneurial initiative, the Innovate! Challenge, which is a competition organised by the Office of Business Development that rewards staff for impactful and innovative ideas that lead to income generation for their unit or department, as well as the campus.

The competition will be launched later this year and will be sponsored by CIBC FirstCaribbean.

One of the major beneficiaries of the MOU is the Student Entrepreneurial Empowerment Development (SEED) project, which is designed to encourage and develop self-reliance.

The bank has assisted with providing access to finance and a business plan competition. To date, $240,000 has been disbursed among 40 start-ups since the inception of the programme.

The first, second and third place winners of The UWI SEED CIBC FirstCaribbean Business Plan Competition – Kerri-Ann Bovell, Victor Clarke and business partners Marissa Chandler and Malissa Cornwell – also thanked The UWI and CIBC FirstCaribbean for their support.

Photo Captions:

Header: The first donation to the Department of Gender Affairs, made by CIBC FirstCaribbean on International Women’s Day, was the springboard for the Department’s food and gift-bag distribution programme. The programme focused on alleviating the economic strain and burden of poverty for single female-headed families and young women in particular.

L-R: Bianca Dillon-O’Neil, Human Resources Support Officer, CIBC FirstCaribbean; Cutella Talbot, Gender Officer, Department of Gender Affairs; Carolyn Dickenson, Director, Department of Gender Affairs.

Insert: Over the last month, CIBC FirstCaribbean’s Human Resources Department, headed by Mrs. Dillon-O’Neil, encouraged persons to donate non-perishable items.  Boxes were placed at each of the bank’s branches for contributions by staff.

 

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CARICOM Presses for Peace as Hormuz Conflict Drives Up Caribbean Costs 

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May 22, 2026 – The Caribbean Community is warning that the escalating conflict surrounding the Strait of Hormuz is now directly threatening Caribbean economies, driving up the cost of fuel, food and freight across a region heavily dependent on imports.

In a statement issued this week, CARICOM expressed “serious concern” over the worsening hostilities in the Middle East and the growing instability affecting one of the world’s most critical shipping corridors.

CARICOM said it is alarmed by: “the severe loss of life, threats to civil infrastructure, and the instability in global markets” resulting from the conflict.

The regional bloc warned that disruption in maritime transit through the Strait of Hormuz is reverberating across the global economy through: “energy markets, supply chains and increased freight costs.”

For Caribbean citizens, those consequences are already becoming painfully visible.

In Nassau, gasoline prices have surged again, with regular fuel now nearing or exceeding seven dollars per gallon at some stations. Consumers in other CARICOM countries are also reporting higher transportation costs, rising grocery bills and mounting pressure on household budgets.

The fear among regional leaders is that the crisis is far from over.

Roughly 20 percent of the world’s oil and liquefied natural gas normally passes through the Strait of Hormuz, making it one of the most strategically important waterways in global trade. Analysts warn prolonged disruption could trigger even higher global inflation and deeper supply chain instability.

The United Nations Food and Agriculture Organization has now warned that the crisis could become a: “systemic agrifood shock” capable of triggering a severe global food price crisis within six to twelve months.

The Caribbean is especially vulnerable because of its dependence on imported fuel, imported food and imported manufactured goods.

A recent UN regional analysis warned that shockwaves from the Middle East conflict are already reaching Caribbean nations, where rising oil prices and freight costs are increasing the price of imported food, electricity and transportation.

Global institutions are also sounding increasingly dire warnings.

The World Bank projects energy prices could surge by 24 percent this year because of the conflict, while fertilizer prices may jump by more than 30 percent — increases likely to feed directly into higher food costs worldwide.

The International Monetary Fund has meanwhile warned the global economy could face a “much worse outcome” if the conflict drags into 2027 and oil prices continue climbing.

CARICOM is now calling for all parties to respect international law and preserve safe passage through the Strait of Hormuz under the United Nations Convention on the Law of the Sea.

The Community stressed that transit passage:  “should not be contingent on any license, levy, or authorization,” and warned that bordering states should not “hamper or suspend” the movement of vessels through the corridor.

CARICOM also called for:  “cessation of hostilities” and urged “de-escalation and restraint by all parties.”

But for many Caribbean citizens, the economic pain is already here.

And with fuel nearing seven dollars per gallon in parts of The Bahamas, regional governments are facing renewed pressure over cost of living concerns, inflation and the Caribbean’s continued dependence on imported energy and food supplies.

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

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Browne Wins Fourth Term in Antigua & Barbuda Landslide

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Antigua & Barbuda, May 4, 2026 – Prime Minister Gaston Browne has secured a historic fourth consecutive term in office, leading the Antigua and Barbuda Labour Party to a commanding victory in the country’s snap general election held April 30, 2026.

Preliminary results show Browne’s party capturing 15 of the 17 seats in Parliament, tightening its grip on power and dramatically weakening the opposition.

The main opposition United Progressive Party was reduced to just one seat, held by its leader, while the Barbuda People’s Movement retained its single constituency in Barbuda.

The result marks a major political turnaround for Browne, whose party had won a much narrower 9–7 majority in the 2023 election before rebuilding support through defections and by-elections.

Voter turnout figures vary in early reports, with initial estimates indicating participation of around 35.8 percent, or roughly 22,700 voters out of more than 63,000 registered. However, broader election data suggests overall turnout may have exceeded 60 percent, reflecting steady engagement despite political tensions.

The election, called nearly two years ahead of schedule, was shaped by concerns over the cost of living, global economic pressures and fallout from U.S. visa restrictions linked to the country’s citizenship-by-investment programme.

Despite those issues, Browne campaigned on economic stability and continued development, pointing to a strong tourism recovery and ongoing infrastructure expansion.

The decisive victory now strengthens his mandate, but also raises questions about the future of the opposition, which faces internal challenges after significant losses at the polls.

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

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FIGHT FOR CONTROL OF STEWART TOURISM EMPIRE PLAYS OUT IN COURTS

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May 4, 2026 – This is not just a family dispute.  It is a fight over control of a tourism empire.

At the centre is Adam Stewart, who has secured a series of legal victories across the region as challenges continue over the estate and leadership structure of Sandals Resorts International.

The multi-billion-dollar conglomerate was built by the late Gordon “Butch” Stewart, whose passing in 2021 set off a complex and ongoing dispute involving family members, estate arrangements and control of the business.

In recent rulings, courts in both The Bahamas and Jamaica have reinforced Adam Stewart’s position, effectively allowing him to continue leading the company while defending his role against legal challenges.

One key issue has centred on the interpretation of estate provisions, including whether defending his leadership could jeopardise his inheritance. The courts have ruled in his favour, clearing the way for him to maintain control without penalty.

For now, those decisions bring a measure of stability to one of the Caribbean’s most influential tourism brands.

But the matter is far from settled.

Multiple legal challenges and competing claims within the Stewart family remain active, meaning the future structure of the company is still being contested.

The implications stretch well beyond the courtroom.

Sandals operates across several Caribbean nations, including The Bahamas, Turks and Caicos Islands, Jamaica and Saint Lucia, making it a critical player in regional tourism, employment and investment.

Any uncertainty at the top of the organisation has the potential to ripple across economies that rely heavily on the brand’s continued expansion and stability.

For now, Adam Stewart remains firmly in charge.  He was named Executive Chairman of Sandals Resorts International in 2021.

Still, many are keen on the outcomes of ongoing litigation, as the battle over one of the Caribbean’s most powerful business empires is still unfolding.

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

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