Category: CANA News

A Latin American financial services group is moving to expand its investment banking presence in the Caribbean, with a series of high-level meetings planned in four countries beginning next week.

Inversiones Atlántida S.A., the holding company of Grupo Financiero Atlántida, said it will introduce its newly launched New York-based merchant and investment bank, BancAtlantic Capital, to clients and partners in Suriname, Guyana, Trinidad and Tobago and Jamaica.

The invitation-only events, dubbed ‘Caribbean Currents,’ will be held in Suriname on October 5, Guyana on October 6, Trinidad and Tobago on October 7 and Jamaica on October 8.

The group said the initiative forms part of its strategy to deepen its Caribbean presence and expand access to financing and international capital markets for businesses and governments in the region.

BancAtlantic Capital is led by co-founder and Chairman and CEO John Tonelli, a veteran Wall Street investment banker with three decades of experience in Caribbean markets. Tonelli previously served as Global Head of Debt Capital Markets at Oppenheimer.

The firm said it will focus on financing emerging economies that have historically been underserved by global investment banks and had limited access to international capital markets.

BancAtlantic will provide investment banking, capital markets and strategic advisory services, as well as direct capital support and principal investment in high-growth emerging markets.

Grupo Financiero Atlántida Chairman and CEO Guillermo Bueso Anduray said the expansion into the Caribbean represents a continuation of the group’s international growth strategy.

‘By leveraging our affiliated commercial banks, insurance companies, and asset managers throughout Central and South America, and with John Tonelli’s leadership and vast experience in the Caribbean, we are uniquely suited to deploy our own capital and provide access to international capital markets for our clients in the region,’ he said.

Tonelli said the Caribbean has significant opportunities for economic diversification and capital investment.

‘Corporate and state-owned enterprises in this region possess immense, untapped potential,’ he said.

‘Our objective during this series of events is to engage directly with regional leaders and our local partners to discuss opportunities and demonstrate how we can work together to accelerate economic diversification and increase access to capital markets.’

Grupo Financiero Atlántida has more than 40 companies operating across eight countries in the Americas and Europe and manages more than US$26 billion in assets.

The group, which has a history spanning more than 113 years, has expanded beyond its Honduran base into Central America, the Caribbean, South America, the United States and Europe.

In 2024, it became the first Honduran financial institution to enter the Spanish financial market.

The group said BancAtlantic will build on its existing relationships in the Caribbean while bringing dedicated investment banking and capital markets capabilities to the region.

BancAtlantic, which is based in New York, combines Wall Street and international capital markets expertise with the financial resources and institutional relationships of Grupo Financiero Atlántida.

The company said its Caribbean expansion is intended to help regional companies and state-owned enterprises access financing, investment and international capital markets as governments seek to diversify their economies and attract new sources of capital.

The following is the CANANews and SPORTS Schedule for Thursday, October 1, 2026.

ST JOHN’S – China says it will expand artificial intelligence cooperation with developing countries, offering 5,000 AI training and seminar opportunities over the next five years and widening access to technology aimed at disaster preparedness.

ST GEORGE’S – Prime Minister Dickon Mitchell says Parliament will be dissolved on Friday, paving the way for a general election expected to be called later this year.

WASHINGTON – The United States has imposed new financial and travel restrictions on Cuba, barring US banks from maintaining certain accounts for Cuban private entrepreneurs and reversing measures introduced by the Biden administration to expand the island’s access to the US financial system.

NEW YORK – A Latin American financial services group is moving to expand its investment banking presence in the Caribbean, with a series of high-level meetings planned in four countries beginning next week.

SPORTS

GUWAHATI – West Indies bowling coach Ravi Rampaul has described the team’s bowling performance in the second ODI against India as below par, explaining that they failed to execute their plans.

The United States has imposed new financial and travel restrictions on Cuba, barring US banks from maintaining certain accounts for Cuban private entrepreneurs and reversing measures introduced by the Biden administration to expand the island’s access to the US financial system.

The new measures also eliminate authorization for certain international payments involving Cuba to pass through US banks and restrict some categories of educational and professional travel to the island.

The changes to the Cuban Assets Control Regulations took effect Wednesday after the Treasury Department’s Office of Foreign Assets Control (OFAC) published the amendments a day earlier.

OFAC said the amendments implement portions of President Donald Trump’s Cuba policy and regulations stemming from a May 1 executive order targeting individuals and entities Washington says are responsible for repression in Cuba or pose threats to US national security and foreign policy.

The measures reverse financial openings introduced by the Biden administration in May 2024, when the Treasury Department authorized qualifying Cuban private entrepreneurs to remotely operate US bank accounts, including while physically present in Cuba.

At the time, the Treasury said the authorization was intended to support Cuba’s independent private sector by expanding access to financial services and facilitating authorized payments and remittances.

Under the new rules, US financial institutions can no longer open or maintain accounts under that authorization. Existing funds must be blocked and reported to OFAC unless another authorization applies.

The immediate number of businesses affected could be limited. Oniel Díaz Castellanos, founder of Cuban business consulting firm Auge, said relatively few entrepreneurs had been able to take advantage of the authorization because many US banks remained reluctant to work with Cuban businesses due to sanctions-compliance concerns.

The regulations also eliminate authorization for so-called U-turn transactions, which allow certain payments originating and terminating outside the United States to pass through US financial institutions.

Under the new rules, US banks can no longer process qualifying Cuba-related U-turn transactions and are instead authorized to reject them, according to OFAC.

The policy has shifted between administrations. The first Trump administration eliminated U-turn transactions in September 2019, before the Biden administration restored them in May 2024.

Washington has also tightened restrictions on travel to Cuba, eliminating the general authorization for group people-to-people educational travel and narrowing other categories of educational travel.

Certain academic activities involving accredited US institutions remain authorized under specified conditions.

OFAC also removed the general authorization for attending or organizing certain professional meetings and conferences in Cuba.

The latest measures follow a series of sanctions imposed by the Trump administration since May targeting senior Cuban officials, state-owned companies and financial institutions.

In June, the Treasury sanctioned Cuban President Miguel Díaz-Canel and other officials and entities. It later designated state-owned oil and gas company Unión Cuba-Petróleo, known as CUPET.

Additional sanctions followed in August against individuals and entities that the Treasury said were involved in Cuban arms imports and foreign military cooperation.

On September 3, OFAC sanctioned Banco Exterior de Cuba and several companies linked to the country’s petroleum, mining and resource sectors.

Unlike those earlier actions, which largely targeted specific individuals, companies and government entities, the latest measures modify broader US rules governing financial transactions and travel involving Cuba.

The restrictions came a day after Secretary of State Marco Rubio intensified the administration’s criticism of Havana.

‘The truth is Cuba has already fallen,’ Rubio said during an interview earlier this week. He described Cuba as ‘a failed state in every sense of the word.’

The Trinidad and Tobago Government will accord calypso icon Dr Slinger ‘Mighty Sparrow’ Francisco an official state-assisted funeral, as the country prepares a national tribute to the legendary Calypso King of the World

Culture and Community Development Minister Michelle Benjamin made the announcement in the House of Representatives on Thursday as she paid tribute to Sparrow, who died peacefully in New York on Sunday, September 27, at the age of 91, surrounded by family.

Benjamin said a committee has already been established to work with Sparrow’s family to ensure

that he receives ‘a funeral fit for a legend.’

‘Under the direction of the Prime Minister, an official state-assisted funeral will be held, a date to be fixed,’ Benjamin said.

She also announced that Calypso History Month, which begins Friday, will be observed this year in Sparrow’s memory.

The Ministry of Culture and Community Development, in collaboration with TUKO, will stage a national tribute, while books of condolences will be opened at several locations, including regional corporations, the National Academy for the Performing Arts, the Southern Academy for the Performing Arts, the Shore Park Cultural Complex in Tobago and the ministry’s main office at Tower C, International Waterfront Complex.

Benjamin described Sparrow’s death as the loss of ‘one of the greatest cultural figures this country has ever produced.’

‘Dr Slinger Francisco O.R.T.T., the Mighty Sparrow, the Calypso King of the World. He was 91,’ she said.

She extended condolences to his wife, children, grandchildren and great-grandchildren, the calypso fraternity, the people of Trinidad and Tobago and Sparrow’s many admirers around the world.

Benjamin also expressed condolences to the people of Grenada, where Sparrow was born in Grand Roy on July 9, 1935.

‘We grieve with you for a son we have shared for 90 years,’ she said.

Born Slinger Francisco, Sparrow rose from humble beginnings to become one of the Caribbean’s most influential musical figures. He won both the Calypso King and Road March titles in 1956 with ‘Jean and Dinah’ and went on to build a career spanning more than seven decades.

Benjamin noted that Sparrow used his music not only to entertain but also to challenge authority and address social and political issues.

‘He sang the truth when others kept quiet. He stood up to those in power, that he did, and he held up a mirror so ordinary people could see their own lives in his songs,’ she said.

During a career of about 70 years, Sparrow composed more than 500 calypsos and recorded more than 70 albums. He won eight Calypso Monarch titles, eight Road March titles and twice captured the Calypso King of Kings title.

Benjamin said, however, that Sparrow’s greatest honour came from the affection of the people.

‘It was the way a Sparrow song could play and the entire gathering would know the words,’ she said.

‘That mighty man, the Mighty Sparrow, has taken his final bow. His music and his legacy remains, and it is ours. May his soul rest in eternal peace.’

News of Sparrow’s death has prompted tributes across the Caribbean and its diaspora, including from Caribbean-American Democratic Congresswoman Yvette D. Clarke of New York.

Clarke, whose congressional district includes parts of Brooklyn and Queens, extended condolences to Sparrow’s family and fans, describing him as an internationally renowned cultural icon.

‘Though he was born in Grenada and raised in Trinidad and Tobago, the Mighty Sparrow’s talent was so substantial and his art so impactful, it could not be confined to the nations of the Caribbean, but instead came to be beloved across the globe,’ Clarke told the Caribbean Media Corporation.

She said Sparrow’s legacy would endure as that of ‘a consummate entertainer,’ cultural institution, trailblazer and innovator.

‘And, though our sorrow is great, may we find comfort in knowing that tonight, the Kingdom of Heaven will ring alive with sweet steel melodies and the songs and sounds of our people,’ Clarke said.

Quoting Matthew 25:23, she added: ‘Well done, thou good and faithful servant; enter thou into the joy of thy Lord.’

Sparrow’s death has also brought renewed attention to his longstanding connections within the Caribbean music industry and its diaspora.

Dr Suzanne Straker Greenidge-Hewitt, daughter of the late Vincentian-born Granville Leonard Straker, known as a major figure in the development of soca music and founder of Straker’s Records, said Sparrow was not only an artist her father admired but also a friend of the family.

Straker’s Records, which was based in Brooklyn, released The Best of The Mighty Sparrow – Live at The Blue Coronet in Brooklyn in 1970, followed by additional Sparrow recordings on the label in the early 1970s.

‘Sparrow was a friend of our family, and I remember my father affectionately referring to him as ‘Birdie’,’ Straker Greenidge-Hewitt told CMC.

She noted that Sparrow died exactly one month after her father, who died on August 27.

‘The timing of their passing feels especially poignant to us – daddy on Aug. 27 and Sparrow exactly one month later on Sept. 27,’ she said.

Straker’s Records released an estimated 600 to 700 albums, more than 1,000 12-inch records and several thousand singles during its approximately three decades in operation. Its roster included generations of Caribbean performers, among them Calypso Rose, The Mighty Shadow, Black Stalin, Chalkdust, Lord Nelson, Lord Melody, the Mighty Duke, Explainer, Winston Soso, Singing Francine and Machel Montano.

‘These records are more than vinyl to our family; they are pieces of Caribbean music history and evidence of the relationships, friendships and cultural work that helped carry this music from the islands to Brooklyn and throughout the Diaspora,’ Straker Greenidge-Hewitt said.

Gil T. Figaro Sr., Trinidadian-born founder and chairman of the Sunshine Awards in Teaneck, New Jersey, also paid tribute to Sparrow, describing his death as the closing of a chapter in the cultural history of the Caribbean.

‘There are moments in history when the passing of an individual is not simply the end of a life, but the closing of a chapter in the cultural story of a people,’ Figaro told CMC.

‘The Mighty Sparrow, Dr. Slinger Francisco, has departed this earthly life and entered into the presence of our Lord. With his passing, Trinidad and Tobago, Grenada, the Caribbean and the world have lost one of the most extraordinary voices ever to emerge from the rich tradition and sounds of calypso.’

Figaro said he was privileged to be at Sparrow’s bedside with members of his family during his final hours.

He said Sparrow had spent about 71 years before audiences around the world and accomplished what few performers have done: commanding the stage while transforming calypso into a vehicle for entertainment, social commentary, history and cultural expression.

‘His voice could make an audience laugh, think, question, celebrate and sometimes confront uncomfortable realities,’ Figaro said.

Sparrow’s family said he died after a brief illness and that arrangements are being made for a public celebration of his life.

The official state-assisted funeral and national tributes will provide Trinidad and Tobago and the wider Caribbean with an opportunity to honour an artist whose music helped define generations and carried the sounds and stories of the Caribbean to audiences around the world.

Former Insurance Corporation of Barbados Limited (ICBL) chief executive officer Ingrid Innes has been fined US$7,000 and sentenced to time served after pleading guilty to one count of conspiracy to commit money laundering.

The 70-year-old, who has stage three pancreatic cancer, avoided further imprisonment after District Judge Kiyo Matsumoto took her medical condition into account.

Innes, a Guyanese national, was charged in connection with a bribery scheme involving former government minister Donville Inniss.

Inniss was convicted in the United States in 2020 and served two years in federal prison.

The payments were alleged to be bribes intended to help the Insurance Corporation of Barbados Limited secure more business.

According to Barbados Today, on January 14, 2020, the payments were based on two fraudulent invoices prepared by the company’s chief financial officer, Kamante Millar, who later entered into a plea agreement and testified for the prosecution against Innes, other ICBL executives, and Inniss.

During the 2020 federal trial here, Millar testified that she generated two false internal invoices.

The invoices – one for US$16 536.73 in 2015 and another for US$20 000 in 2016 – were used to disguise payments that were ultimately channelled to Inniss’ US-based dental company, Crystal Dental Lab.

According to Innes, when she was asked to approve the payments to Inniss, she was told they were for consulting fees.

She was also told that in Barbados it was not necessarily illegal or unusual for Members of Parliament to own businesses, including consulting companies, or to accept campaign contributions from government suppliers.

West Indies Women’s all-rounder Aaliyah Alleyne has maintained that the team was always confident of winning their One Day International series against Zimbabwe despite losing the second match.

The visitors captured the three-match series 2-1 with a comprehensive 91-run win over the home side in the third and final match at Harare Sports Club on Wednesday.

Captain Hayley Matthew led from the front with a knock of 118 – her second century of the series – while Shemaine Campbelle scored 96 to get the Windies Women up to 271 for five.

Alleyne along with Ashmini Munisar and Jannillea Glasgow then grabbed two wickets apiece to bowl out Zimbabwe Women for 180 in 47.3 overs.

It was a welcomed result for the regional side, which went down by four wickets in a shock defeat in the second ODI.

Speaking in a post-match press conference, Alleyne, whose seven wickets were the most by any bowler throughout the series, said the team held a series of meetings after the loss to address the matter.

‘I think when we played the second ODI we were a bit disappointed. We had a few meetings and we discussed where we went wrong and where we could have gotten better and I think today [Wednesday] showed that when we give ourselves a chance the sky is the limit.

‘We were disappointed because when we came here we spoke about collecting all six points…but that’s how cricket goes. We just reflected and we came back harder and I think that just shows the character of this team and we’re just looking to move on from here,’ Alleyne said.

‘And I think the captain leading from the front by scoring that century and then Shemaine Campbelle as well, having that partnership shows what partnerships can do and then you had Jannillea Glasgow and Jahzara Claxton coming on at the end and having that wonderful partnership and then to top it off bowling out Zimbabwe.’

The government of this British Overseas territory has allocated a further US $2.5 million for electricity subsidies through the end of the year.

This was disclosed by Minister for Communications and Works Kye Rymer who said Cabinet had approved the funding in a Schedule of Additional Provisions.

The additional allocation follows relief announced for August and September after consumers complained about sharp increases in their electricity bills.

‘We added one million per month,’ Rymer said, describing the government’s earlier three-month subsidy programme.

‘When the August bills came out, there was that outrage,’ he added.

Rymer who was speaking on a local radio programme late Wednesday, said customers had been shocked by the cost of electricity after receiving subsidies in previous months. He contacted the Minister of Finance, and the government subsequently announced credits and subsidies for August and September.

He said the latest allocation would continue assistance through the remaining months of the year, including the Christmas period.

He noted that the government had provided electricity relief around Christmas for the past three or four years.

In August, the government announced that it would credit customers’ August electricity bills and apply a subsidy to September bills.

The BVI Electricity Corporation had already distributed the August bills and could not withdraw them, so it promised to adjust customers’ accounts instead.

At that briefing, Rymer attributed the increases to July fuel costs rather than higher electricity tariffs or changes to the corporation’s base rates. He also identified investment in solar energy as the government’s longer-term response to dependence on imported diesel.

During Wednesday’s programme, Premier Dr Natalio Wheatley said the government had to balance revenue collection with concessions and spending to help residents meet higher costs.

He said officials would continue monitoring the situation and assessing measures to soften the impact of inflation. The Premier said the additional subsidy would help residents during the fourth quarter and Christmas.

Wheatley also called for greater use of solar energy to reduce exposure to external price increases.

Cricket West Indies (CWI) has welcomed Prime Minister of Barbados Mia Amor Mottley’s call for greater investment in cricket and her commitment to the development of a High-Performance Centre (HPC) in Barbados.

Mottley’s comments came following the conclusion of the 2026 Caribbean Premier League Final, where she highlighted the importance of sustained investment in sporting infrastructure and confirmed that funding for a HPC is moving forward.

CWI sees the proposed facility as an important step in strengthening the region’s cricket infrastructure and an opportunity to complement the HPC currently being developed by the regional body at its headquarters in Coolidge, Antigua.

CWI’s chief executive officer Chris Dehring said investment in high-performance infrastructure has become increasingly important as cricket’s major nations continue to strengthen the environments in which their players are developed.

‘The global cricket landscape has changed, and the investment being made in high-performance infrastructure, sports science and recovery facilities and technology is raising the bar on player development.

‘All constituents of West Indies cricket need to build that capacity in order to give our cricketers at every level the chance to properly develop their skills,’ Dehring said.

‘We therefore welcome Prime Minister Mottley’s vision and her recognition of the need for meaningful investment if the region is to build on its proud legacy and create new opportunities for the next generation.’

Dehring said CWI’s own HPC development in Antigua is being designed with a similar objective; that of creating a modern environment where players have state-of-the-art facilities, technology, expertise and support systems required to perform at the highest level.

‘West Indies cricket needs investment in modern training and development infrastructure. These facilities are key components of a re-engineered player production pipeline and ecosystem.

‘Our goal is to establish a network of High-Performance Centres across the Caribbean, connected by technology and a common vision. That will be transformative for West Indies cricket and expand the opportunities for our players as the global game continues to expand,’ Dehring said.

CWI said it looks forward to continued dialogue and collaboration with stakeholders across the region as the Caribbean explores new opportunities to invest in the future of West Indies cricket.

China says it will expand artificial intelligence cooperation with developing countries, offering 5,000 AI training and seminar opportunities over the next five years and widening access to technology aimed at disaster preparedness.

Chargé d’Affaires at the Chinese Embassy in Antigua and Barbuda, Zhang Peng, announced the initiative during a reception marking the 77th anniversary of the founding of the People’s Republic of China.

‘In the next five years, China will provide developing countries with 5,000 opportunities in AI training and seminar programmes,’ Zhang said.

He said Beijing also plans to establish international AI application cooperation centres with the Community of Latin American and Caribbean States (CELAC) and other Global South organisations.

The initiative forms part of China’s push for greater international cooperation on artificial intelligence and its governance.

Zhang said Chinese President Xi Jinping has called on countries to jointly build what he described as ‘a just and equitable system for global AI governance’.

He also announced plans to make an AI-powered multi-hazard early warning system available to 30 countries.

Zhang who did not identify the countries also underscored China’s broader relationship with Latin America and the Caribbean, saying geographical distance had not weakened Beijing’s commitment to cooperation with the region.

‘Though China is far away from Latin America and the Caribbean, distance has never diminished our resolve to pursue sincere cooperation,’ Zhang said.

Guyana is on high alert for bird flu (H5N1 avian influenza), following an outbreak in neighbouring Suriname where at least 5,000 chickens on a farm were killed by the virus and a remaining 1,000 culled, Minister of Agriculture Zulfikar Mustapha said Wednesday.

‘We have a strong mechanism in place, a strong surveillance system. We have checks at various farms so we are working,’ he told Demerara Waves Online News

Although word of the virus emerged two weeks ago in Suriname,r Mustapha said officially of the presence of the disease from the World Organisation for Animal Health (WOAH) yesterday, after Suriname informed that France-headquartered organisation.

The agriculture minister said the quarantine border controls were also conducting checks and a committee was also conducting regular checks.

Suriname’s ministry of agriculture said daily inspections were being conducted by the 20 extension officers who were interviewing poultry farmers and assessing farms

So far, some samples have been sent to a foreign laboratory through the Pan American Health Organization (PAHO) to determine the virus’s genetic origin, with results expected within weeks.