Connect with us

News

Multi-million defence investment creates 700 jobs days after UK-EU security pact

Published

on

Hundreds of high-skilled jobs created at defence firm MBDA’s expanded Bolton site.

  • Hundreds of high-skilled jobs created at defence firm MBDA’s expanded Bolton site, working on cutting-edge missile system manufacturing technology
  • Announcement comes just days after the Government signs new Security and Defence Partnership that will boost defence procurement opportunities for UK.
  • Business Secretary Jonathan Reynolds will visit site and hail investment as latest vote of confidence in Government’s upcoming modern Industrial Strategy.

Britain’s defence industry received yet another boost this week as 700 high-skilled jobs are set to be created following a £200 million investment from European defence company MBDA at its site in Bolton.

The announcement follows new Security and Defence Partnership signed at this week’s EU-UK Summit which will open the door to the EU’s new weapons scheme, leading to significant opportunities for the UK’s world-leading defence industries, driving growth and supporting 430,000 British jobs and livelihoods.

This is the latest win for the UK’s leading defence and advanced manufacturing sectors and is further proof the Government’s Plan for Change is working.

It also represents a major vote of confidence in the upcoming modern Industrial Strategy, which will drive investment in the UK’s high-growth sectors by giving businesses the certainty they need to commit to the UK.

Business Secretary Jonathan Reynolds will visit MBDA’s Bolton site today (22 May) to formally announce the investment, which forms part of a wider £500 million commitment from the company to expand its UK manufacturing and technologies.

Business Secretary Jonathan Reynolds said:

This is great news for Bolton and another win for our world-class defence sector, which will create hundreds of good, well-paid jobs and ensure the UK continues to lead the way on the cutting-edge technologies of the future.

Our new Security and Defence Partnership will unlock access to the EU’s proposed new £150 billion defence fund for UK firms. Coupled with the launch of our upcoming modern Industrial Strategy, communities across the country will see how our Plan for Change is working – delivering growth at home and strength abroad.

The investment from MBDA, a leading missile systems manufacturer, will more than double its Bolton footprint by 2028 and grow its apprenticeship and STEM outreach programme, which already includes over 400 early-career professionals UK-wide.

It also supports MBDA’s goal to deliver £10 billion of UK exports by 2032, cementing the UK’s position as a leader in the manufacturing and export of complex weapons systems, and comes after the Government announced a £6.5 billion complex weapons partnership with MBDA in July 2024.

MBDA UK Managing Director Chris Allam said:

We are proud and excited to be building a world class engineering and manufacturing campus in the north-west of England, the centre of complex weapons manufacturing for the UK, and our associated recruitment and training will extend our already great workforce.

MBDA is privileged to have a 10-year Complex Weapons portfolio agreement with the UK Government. This gives us the confidence to invest and better support the UK and its allies. It also helps our supply chain and over 700 SMEs who work with MBDA in the UK. When we expand, they expand with us.

Megan, a manufacturing apprentice at MBDA’s Bolton site, said:

It’s great that our site is expanding and there will be more early-careers opportunities for young people. Becoming an apprentice was an obvious choice for me. Having the chance to learn as part of my full-time job and achieve a recognised qualification and career made it a very easy decision.

Apprenticeships can be unique experience for each person. They provide the chance to excel in industries people are passionate about, and the experiences they get will shape their future. Making the most out of my apprenticeship has led to reward and recognition for my hard work, and I always encourage others to study STEM subjects and do the same.

UK Export Finance CEO Tim Reid said:

Pioneering companies like MBDA UK investing in their people and technologies for the long-term underscore why we are a world leader in defence.

Thanks to our multi-billion-pound direct lending uplift, we can support even more defence firms to expand their production lines and take on more international orders from allies – leading to greater economic growth, stronger supply chains and local jobs back here at home.

The Government is backing the defence sector to deliver skilled jobs and growth across the country as part of its Plan for Change and is providing significant financial support to UK defence companies through UK Export Finance (UKEF).

In March this year, the Chancellor announced a £2 billion increase in UKEF’s Direct Lending capacity for defence exports, taking its overall lending capability to £10 billion.

The UK is one of the largest exporters of defence equipment in the world, and in 2023 the UK won defence contracts worth £14.5 billion.

Continue Reading

News

Invest TCI Strengthens Regional Investment Connections at Caribbean Investment Forum 2026 in Barbados

Published

on

Providenciales, Turks and Caicos Islands – Monday, 19th October 2026: Invest Turks and Caicos Agency (Invest TCI) strengthened its regional presence at the Caribbean Investment Forum (CIF) 2026, held October 5 – 7, 2026, in Bridgetown, Barbados, participating as both a sponsor of the Forum and representative of the Turks and Caicos Islands’ investment landscape.

The Caribbean Investment Forum brought together regional and international investors, government representatives, business leaders, entrepreneurs, investment promotion agencies, and development partners to explore investment opportunities, strengthen partnerships, and advance sustainable economic development throughout the Caribbean.

The Agency’s sponsorship of CIF 2026 formed part of its continued commitment to strengthening the visibility of the Turks and Caicos Islands within the regional investment community and building relationships with investors, development partners, investment promotion agencies, and businesses across the Caribbean.

The opening of the Forum was attended by the Honourable Mia Amor Mottley, Prime Minister of Barbados, who emphasised the importance of scaling regional investment, strengthening economic cooperation, and transforming innovative ideas into commercially viable opportunities. Invest TCI was represented by Ms. Alexa Cooper, Domestic Investment Officer, and Mr. Hezron Henry, Marketing Support Officer. Throughout the Forum, the delegation engaged with stakeholders and promoted the Turks and Caicos Islands as a competitive investment destination while exploring opportunities for greater regional collaboration and knowledge exchange.

Speaking on her experience at the Forum, Ms. Alexa Cooper, Chief Domestic Investment Officer, said:

“CIF 2026 provided another valuable opportunity to engage with donor organisations, investors and Investment Promotion Agencies (IPAs) from across the Caribbean. A highlight for me was the introduction of an exclusive masterclass for fund managers, investors and support organisations, which offered practical insights into unlocking capital, strengthening investment ecosystems and supporting investment-ready businesses. I was equally impressed with the quality of projects pitched, which showcased the region’s innovation and investment potential. It was encouraging to see projects presented with a clearer understanding of investor expectations, reinforcing the importance of not simply developing projects, but ensuring they are well-structured, investment-ready and positioned to attract the right investment partners.”

Accompanying the Invest TCI delegation was Mr. Sean Penn, Chief Executive Officer of Sky Poultry Farm Ltd., the first commercial egg and poultry production facility in the Turks and Caicos Islands. Mr. Penn’s participation provided an opportunity to showcase the development of domestic enterprise within the Turks and Caicos Islands while highlighting the potential of agriculture and food production as part of the country’s broader economic diversification efforts.

Through his participation at CIF 2026, Mr. Penn had the opportunity to engage with regional stakeholders, gain exposure to developments within the Caribbean agricultural sector, and explore potential partnerships and opportunities related to agricultural investment, innovation, and enterprise development.

For Invest TCI, the combination of sponsorship, investment promotion and local business representation provided a multifaceted platform to advance the Agency’s mandate. It allowed Invest TCI not only to promote the Turks and Caicos Islands to prospective investors but also to facilitate greater exposure for a local enterprise operating within an emerging sector of the economy. The Forum also provided opportunities for the Invest TCI delegation to exchange knowledge with regional counterparts, strengthen institutional relationships, and gain insight into investment trends and opportunities affecting Caribbean economies.

As the Caribbean Investment Forum continues to expand its regional reach, Santo Domingo, Dominican Republic, was announced as the destination for the next edition of the Forum, providing another opportunity to bring together investors, policymakers, investment promotion agencies and businesses from across the Caribbean and beyond.

Invest TCI looks forward to the continued growth of the Caribbean Investment Forum and the opportunities it creates to deepen regional partnerships, promote investment, and connect Caribbean businesses with new markets and sources of capital. The Agency remains committed to attracting sustainable investment, supporting domestic enterprise, encouraging economic diversification, and developing partnerships that contribute to the long-term economic development of the Turks and Caicos Islands.

Continue Reading

Bahamas News

Energy Minister Delivers Electrifying Keynote Opening Address at CAREC 2026  

Published

on

NASSAU, The Bahamas – The Bahamas’ Minister of Energy, Utilities and Aviation, The Honourable JoBeth Coleby-Davis, delivered an electrifying address during the opening ceremony of the 2026 CARILEC Resilient/Renewable Energy Community (CAREC) Conference and Exhibition, being held October 18–22, 2026, at the British Colonial Hotel in Nassau, The Bahamas.

Under the theme “Empowering Progress: Strategic Policy and Planning for the Energy Transition,” the event draws more than 200 industry leaders, policymakers, regulators, and energy professionals committed to advancing practical strategies for sustainable and reliable Caribbean power systems through renewable energy and emerging technologies.

During her address, titled “The New Energy Era: Transforming Policy into Progress,” Minister Coleby-Davis reminded attendees that The Bahamas’ national motto, “Forward, Upward, Onward, Together,” aptly describes what the region’s energy transition demands.

“Empowering Progress speaks directly to our national motto. Not waiting for progress, but creating the conditions that allow progress to happen. Meaningful progress, however, does not occur by accident. It requires vision, sound policy, strategic planning, strong institutions, and the determination to turn decisions into results,” said Minister Coleby-Davis.

Participants acknowledged that small island developing states share similar pressures, compounded by geographical challenges, small electricity markets, ageing infrastructure, geopolitical influences, and the growing threat of severe weather.

Tasked with ushering in a new energy era across the islands while addressing the challenges posed by The Bahamas’ unique archipelagic composition, Minister Coleby-Davis said, “Every island needs a different answer, but the same logic. As an archipelagic nation, we must provide electricity across many islands, each with its own demand and infrastructure needs. Our strategy, therefore, must be national in direction, but responsive to individual communities.”

Restating her Ministry’s three core messages—that energy is an economic and security priority, technology must be viewed as a tool to support strong institutional leadership, and natural gas should be considered a bridge, not a destination—Minister Coleby-Davis reiterated that “progress must now be reflected in functioning infrastructure, effective institutions, and better electricity services: from policy commitments to coordinated implementation, and from fragmented investment decisions to long-term planning.”

Organised by CARILEC and co-hosted by Bahamas Power and Light (BPL) and Grand Bahama Power Company (GBPC), the annual Conference and Exhibition brings together the Caribbean energy community to advance practical solutions to the region’s most pressing energy challenges and accelerate progress towards more resilient, reliable, and sustainable power systems.

Continue Reading

Bahamas News

Monument Supports Hands for Hunger With Paradise Plates Debut  

Published

on

NASSAU, Bahamas — Caribbean Wines & Spirits (CWS), The Bahamas’ leading wine and spirits distributor, proudly supported Paradise Plates, Hands for Hunger annual fundraiser with a flavorful offering of its newest product, Monument Beverage Co.

Monument, which launched this July and is available across six major islands, made its Paradise Plates debut. Guests enjoyed three bold flavors: Peach Passion, Ginger-Lime and Melon Fizz as they socialized throughout the evening.

Monument brand ambassadors engaged guests with knowledge on the ready-to-drink beverage’s unique taste and look. Many attendees were delighted to learn that Monument is 100% Bahamian-made and owned and enjoyed seeing the various national landmarks on the packaging.

The booth was adorned with vibrant brand colors, striped arches, tropical florals and a photo worthy backdrop featuring Monument cans filled with florals cascading down the wall.

At the end of the event, the entire Monument inventory had finished, making Monument’s Paradise Plates debut a huge success.

For more details on Caribbean Wines & Spirits, new products and specials, visit www.cwsbahamas.com today.

Continue Reading

FIND US ON FACEBOOK

TRENDING