Category: CANA News

The Antigua and Barbuda government says it is moving to overhaul its offshore banking sector, confirming that ‘there’s some major changes coming in that offshore sector’.

Prime Minister Gaston Browne, speaking on his weekly radio programme said his administration is moving towards ‘cleaning up our offshore sector’ and that offshore banks operating here are going to have to ‘increase their minimum capital probably to about 20 million US dollars.

‘Let’s get out of that sector completely because it’s not working for us. We have a problem now with another bank,’ he said, indicating that the Venezuelan-based financial entity ‘ostensibly with US$1.3 billion in assets.

‘That’s the largest one…but, you know, getting verification, the FSRC (Financial Services Regulatory Commission) placed the bank into administration .In administration you can’t find the money. So there’s some speculation that, you know, fraudulent activities taking place there.

‘So the recommendation has been for us to put the bank into liquidation. And by so doing, we know precisely what the situation is. But for years now, the FSRC has been trying to deal with that bank. It’s a Venezuelan-based bank. Most of the assets are into company accounts, I’m told. I haven’t seen the balance sheet…

‘So the cost of deposits, you know, are a smaller fraction of the overall size of the bank. But that sector is just not bringing us any value and we’ve got to definitely get out of it, and what we may do, get into wholesale banking’.

Prime Minister Browne told radio listeners that if ‘you have an established bank that wants to establish a branch here, or if it’s a new bank, we want to raise the capital so high that there’s no opportunity for them to misappropriate…

‘ So if you have that kind of $20 million US capital, it provides a more significant buffer compared to, you know, a bank putting in three million, five million dollars, just too low.’

He said what the authorities have found over the years is that ‘some of those banks have turned out to be, you know, less than acceptable.

‘So we’re going to have to really deal with that sector in a very serious way. As far as I’m concerned, just wind all that into even the tax structure as well. As far as I’m concerned, any such entity operating in that sector should pay the exact domestic rate of tax. So 25 per cent, no special dispensation.’

Browne said that he ahs already given instructions to Legal Affairs Ministry and the FSRC to advise government on the restructuring of that sector to increase the capital requirement, ‘to also change the tax structure to make sure that they pay the same 25 per cent tax that the domestic market pays’.

He said that this is also to ensure there’s no opportunity for any basic erosion of profit shifting in which banks try and shift their profits offshore to deprive the country where economic activity is taking place of the opportunity to tax, or the opportunity to collect taxes.

‘So there’s some major changes coming in that offshore sector,’ he said, adding he is of the view that the European Union and others are very critical about the sector, in cases of ring-fencing and so on.

‘So I don’t know what you mean by ring-fencing and I also feel that they were over-exaggerating when they accused us of being facilitators of money laundering and tax evasion because the sector is so small.’

In a pulsating Caribbean Premier League contest that swung like a pendulum until the very last ball, the St Lucia Kings held their nerve to defeat the Antigua and Barbuda Falcons by four runs in a high-octane finish at the Arnos Vale Ground here Sunday night.

Chasing a competitive 188 for victory, the Falcons looked destined to cruise to back-to-back wins, with the match predictor at one stage giving them a near-90% chance.

But cricket, in its cruellest form, had other plans. The chase came down to the final over with 13 runs required, and when the dust settled, it was Kings’ seamer Matthew Forde who emerged as the coolest man in the stadium, conceding just eight runs to seal a dramatic victory.

The Falcons’ reply began with intent, as Evin Lewis and Rahkeem Cornwall tore into the Kings’ new-ball attack, racing past 30 inside the first three overs.

Cornwall fell soon after to Maheesh Theekshana for 27, but Lewis continued his assault, propelling the Falcons to 65 in the powerplay and a commanding 109 at the halfway mark, despite Theekshana striking again when he got rid of Tim Robinson for 30.

Lewis looked set for a match-winning knock until the 11th over, when left-arm spinner Joshua Bishop got him to hold out to a nervy Darren Need in the deep for a well-constructed 48 off just 24 balls.

That triggered a mini-collapse. Skipper Roston Chase decided to turn his arm over with his off-spin, and he sent back Karima Gore for two and Tajinder Singh for 21 in quick succession, and by the 16th over, the Falcons had stumbled to 142 for 5, needing 46 from the final four overs.

The 17th and 18th overs produced just 13 runs between them, turning the screws on coach Paul Nixon’s men.

Skipper Fabian Allen, with 28 not out, was at the crease, but he managed to face only two deliveries in the final over, as Jahmar Hamilton, who had struggled through a 10-off-20-ball innings at a critical juncture, was unable to rotate strike.

Hamilton eventually got run out, but Shamar Springer, despite hitting a four, could not come up with the goods as Forde kept his lengths immaculate, and the Falcons fell agonisingly short, finishing on 183 for 7.

Earlier, Kings captain Roston Chase won the toss and elected to bat, and it was Player of the Match Andries Gous who anchored the innings with a masterful 82 off 51 balls.

The American wicketkeeper-batter took strike from the very first ball and batted through to the 18th over, holding the innings together even as wickets tumbled around him.

Ackeem Auguste was the only other batter to offer meaningful resistance with a laboured 18 off 20 balls at No. 3, as the Falcons’ bowling attack kept striking at regular intervals.

Alzarri Joseph continued his fine form with figures of 3 for 32, following his 3 for 34 in the tournament opener, while Springer chipped in with 2 for 39.

But Gous’s timely boundaries and clever rotation ensured the Kings posted a defendable 187 for 8.

Police say one of their colleagues is assisting their investigations into the disappearance of a 16-year-old, who had been reported missing since leaving her home in the Georgetown/Granvilla area of Portsmouth, north of here on July 24 this year.

‘ One male Police Officer has been arrested and is being questioned in relation to the missing 16 year old Jerbiah Paul on the 24th of July 2026,’ according to a police statement.

‘It is believed that this Police Officer was the last person to be with the 16-year-old during the time of her disappearance,’ the police added.

Earlier this month, state, National Security, Rayburn Blackmoore, urged the public to stop spreading false information regarding the disappearance of the child warning that unverified social media are hindering the ongoing police investigations.

‘The transmission of some information are not useful to the police investigation. For a matter of fact, I believe that some of the information being transmitted is being done by design to put the police investigation off,’ Blackmoore told reporters.

‘The Ministry and the police, the government have been working with a number of entities, law enforcement agencies, so to speak. Every report of a missing person is peculiar. There are peculiar circumstances in every report of a missing person and therefore those circumstances will inform the methodology of the investigation.

‘I’m calling on the public and those who may have information to assist the police, but I call on the public and the users of social media platforms to stop the bogus transmission of information which is undermining the investigation,’ he added.

Jamaica has recorded 333 murders since the start of this year, a decline of nearly 20 per cent for the same period last year, according to figures released by the Jamaica Constabulary Force (JCF).

The figure for the same period last year was 415.

The figures show declines in murders in St. Ann’s, where it dropped from 36 to 23, St. Mary’s 19 to seven, Kingston Western from 23 to 17 and St. Andrew South from 50 to 27.

There were also decreases in St. Catherine North where the figure recorded for the first six months of the year was 35 as compared with 21 and Westmoreland from 27 to 17.

However, St. James recorded an increase in murders moving from 34 to 41, St. Elizabeth eight to 21,Manchester 16 to 23 and St. Andrew Central 21 to 27.

The JCF recorded 11 murders between August 2 to 8 marking a return to double-digit weekly murders after seven people were killed during the previous week.

The crime figures show that shootings declined by 24 per cent with 320 shootings recorded as compared with 421 for the same period last year.

Rape cases declined also from 246 to 219 and robberies were also down, registering341 as against 440 the previous year.

The JCF also recorded declines in other crimes giving an overall figure of 1,831 for the first six months of the year as compared with 2,207 last year.

In 2025, Jamaica recorded 675 murders, marking the first time in over 30 years that the annual homicide total fell below 700.

Prime Minister Dr. Godwin Friday is expected to arrive in Taiwan on Tuesday at the head of an official delegation as the two countries mark 45 years of diplomatic relations.

St. Vincent and the Grenadines is among a handful of Caribbean Community (CARICOM) countries with diplomatic relations with Taiwan that China regards as a renegade province and as been urging countries to accept ist ‘One China’ policy.

A statement from the Office of the Prime Minister said that Dr. Friday will participate in events commemorating the 45th anniversary of diplomatic relations between the two countries that were established on August. 15, 1981.

It said that a major highlight of the visit will be an audience with Taiwan President Lai Ching-te, during which the two leaders will discuss the longstanding relationship between the two countries and opportunities to deepen cooperation.

Prime Minister Friday will attend a luncheon with the Vincentian community in Taiwan and that the visit will have a strong economic focus, including an investor roundtable bringing together the Vincentian delegation and prospective Taiwanese investors.

Friday said that the visit presents an opportunity to honour a friendship that has spanned almost the entire existence of St. Vincent and the Grenadines as an independent nation, while giving renewed attention to what the relationship can deliver in the years ahead.

‘Forty-five years is an important milestone, but this visit is also about looking forward. We value the friendship that has developed between our countries, and we now have an opportunity to build on that foundation in ways that create greater opportunities for our people and support the development of St Vincent and the Grenadines,’ he said.

The delegation includes the Prime Minister’s wife, Mrs. Ave Friday; Attorney General Louise Mitchell; Minister of Foreign Affairs, Foreign Trade, Foreign Investments and Diaspora Affairs, Dwight Fitzgerald Bramble as well as the Ambassador for Finance, Climate and Investment, Kevin Hope.

Vin Blaine, former head coach of Jamaica’s Reggae Girlz has been appointed director of football for the Football Federation of Belize (FFB).

Blaine, who previously held the same post with the Jamaica Football Federation (JFF), signed a two-year contract last week with an option to renew.

According to Blaine, who also served as technical director of football in Grenada and director of football for the US Virgin Islands, his mission in Belize is to build a competitive international programme while changing the way the game is organised and administered.

‘One vision, one mission – that is what we want. I want to see their football able to challenge for titles, and I would like to see the development and improvement of the game here, as well as improvements in young referees and refereeing.

‘I would like to leave a legacy where a local director of football can take over when I leave,’ Blaine said.

Blaine has already turned his attention to three upcoming tournaments. Belize’s senior team will contest Nations League football in September and October, the Under-15 boys will travel to Azerbaijan for a World Cup festival, while the Under-16s will compete in the Central American Football Union tournament in El Salvador.

Blaine said he believed Belize has significant talent, particularly among Latin American and Spanish expatriates who bring a different style of play.

‘The reason why I came this early is because they have several things happening in October, all around the same time. I’ve had several meetings with the coaches. I have another meeting on Monday with the U15, U16 and U17 coaches. I have to hit the ground running.

‘We have not named a squad yet for Nations League training. We are going to make that assessment on the full weekend of Belize Premier League games, to see if we can find any talent that was never invited in the first place. I want to make Belize more competitive internationally. I have started my assessment already and when the time comes, everyone will know exactly what the expectations are,’ Blaine said.

Prime Minister Phillip J Pierre Monday said that Opposition Leader Allen Chastanet was intent on damaging ‘the good name of the country’ when he sent correspondence to several regional and international organisations questioning the transparency, governance, and financial management, including the audit independence of the St. Lucia Social Development Fund (SSDF).

‘So it’s very sad, for political reasons, to damage the good name of the country, that the Leader of the Opposition go in public view and put a signature on what he knows very well is untrue,’ Pierre told reporters at the weekly news conference.

‘He knows very well what he did not do when he was Minister of Finance. The last statements, 2017, 2018, were done in March 2023, and the Leader of the Opposition was Minister of Finance from 2016 to 2021,’Pierre said, adding the last of the statements were given in March 2023.

Chastanet had in a July 28 letter to Prime Minister Pierre and copied extensively to several organisations including the Barbados-based Caribbean Development Bank,(CDB), foreign embassies and representatives of civil society organisations, warned of the future engagement of international benefactors, and their commitment to the development of St. Lucia.

‘These issues concern the stewardship of public funds, legal compliance, and the integrity of public institutions, and must be treated with the requisite urgency and importance. It is therefore essential that the process adopted be transparent, independent, and capable of restoring public confidence,’ Chastanet wrote.

But Pierre told reporters that Chastanet served as prime minister between 2016 and 2021 and that the last audit was done for the years 2017 and 2018 in March 2023.

‘These audits were done in March 2023 and the St. Lucia Labour Party, we were the party in power at that time,’ Pierre said, noting that upon his assuming office, the current board of directors initiated the process of auditing the financial statements of the SSDF, recognising the importance of ensuring that financial records are necessary.

He said the process initially focused on clearing the outstanding audits for the financial period 2016 to 2021 under the Chastanet government and that as part of its efforts to address the outstanding financial statements, ‘the board encountered challenges in obtaining the necessary supporting documents for the subsequent financial years 2017 to 2018, 2018 to 2019, 2019 to 2020 and 2020 to 2021.

‘No audits were performed, none. Following extensive discussions with the auditors, the board reached a mutual agreement to proceed with the preparation of the outstanding financial statements as qualified statements,’ Pierre said, noting that this approach allows the SSDF to address the outstanding years and advance the auditing process despite the documentation challenges encountered.

‘The SSDF is now looking ahead and is pleased to advise that the auditors have committed to delivering unqualified audited statements for the financial years 2022, 2023, 2023, 2024, 2024, 2025 and 2025.The board is working closely with the auditors who have been appointed with the objective of having the statements finalised by the end of 2026.’

Pierre said that the only reason why statements have not been prepared is because the United Workers’ Party, under the present Leader of the Opposition, failed to present audited statements for these years.

‘Honestly, I know that some politicians distort facts, but that one was incredible (and) to make it worse, I have copies of the financial statements that are prepared for the years 2017 and 2018.I have copies. They were prepared in 2023.

‘So, all during the tenure of the present Leader of the Opposition as Minister of Finance, he has not prepared one set of financial statements for the SSDF and this same Leader of the Opposition, in his quest to damage St Lucia, has written the entire world, accusing us of not preparing financial statements. ‘

Pierre said that Chastanet during his tenure never prepared one because of the paucity of records ‘nd because the auditors could not get the proper documentation to prepare financial statements.

‘So, the entire world has been told that my government failed to prepare all the financial statements,’ he said, adding that he would now have to write these organisations to ensure that the country’s reputation is not damaged.

‘ So, gentlemen and ladies, I just want you to understand what we are dealing with in this country. And I can make statements available for you to see the years and to see when they were prepared,’ Pierre said, adding that the CDB funds the Basic Needs Trust Fund..

‘I have been informed by the SDSF that reports have gone every year to the Caribbean Development Bank on the Basic Needs Trust Fund. That is why they give the money back. They refinance it every year,’ he said, adding also that any one who has contributed to the SSCF has received a report on how the money was used.

‘And the only reason why there’s not an audit report is because the United Workers Party party failed in their five years, and due to the paucity of the records, we could not move on’ Pierre told reporters.

West Indies all-rounder Justin Greaves is among three players nominated for the International Cricket Council (ICC) Men’s Player of the Month award for July.

Greaves has been shortlisted along with England’s Harry Brook and Tanzid Hasan of Bangladesh.

The 32-year-old Barbadian starred in Test series against Sri Lanka, which the West Indies won 1-0, and the drawn two-match Test series against Pakistan, and was named Player-of-the-Series on both occasions.

Greaves was at his brilliant best in the first Test against Sri Lanka in Antigua, where he struck a superb 180 to help the West Indies build a strong response to Sri Lanka’s total.

He then returned to deliver a sensational performance at the end of the month, this time with the ball against Pakistan in Trinidad, claiming 5-27 in the first innings before returning figures of 2-12 in the second to help West Indies secure victory in the opening Test.

Greaves finished the month with 215 runs at an impressive average of 71.66 from two Tests, while also taking eight wickets at an average of just 10.25.

He also featured in two ODIs, scoring 32 runs at a strike rate of 114.28.

Meanwhile, Brook enjoyed a hugely successful month for England, playing a key role in his side’s white-ball success against India.

While he only managed 31 runs across three ODIs, he accumulated 229 runs across five T20Is at an outstanding average of 114.50, striking at a remarkable 214.01.

His performances in the shortest format earned him the Player-of-the-Series award after he finished as the leading run-scorer.

Hasan emerged as one of Bangladesh’s most consistent batters during their white-ball series against Zimbabwe, finishing July as the leading run-scorer across both formats.

The opener produced a series of important contributions in the ODI series, scoring 159 runs in three matches at an average of 53.00 and a strike rate of 89.83, and in the T20Is he scored another 140 runs at an average of 70.00 and striking at 127.27.

The Energy Chamber of Trinidad an Tobago says it welcomes the ‘encouraging trend after the country’s crude oil and condensate production averaged 54,209 barrels per day during the first three months of 2026

The Energy Chamber said that the figures build on the gains recorded last year and offering an encouraging indication that Trinidad ad Tobago’s long decline in oil output may be easing.

It quoted data from the Ministry of Energy and Energy Industries’ Monthly Consolidated Bulletins which showed that production averaged 54,052 barrels per day in January, rose to 55,244 barrels per day in February and moderated to 53,431 barrels per day in March.

The first-quarter average was 427 barrels per day, or 0.8 per cent, above the 2025 annual average of 53,782 barrels per day. Compared with the first quarter of 2025, production increased by approximately 2,447 barrels per day, or 4.7 per cent.

‘While three months of data are not enough to confirm a sustained recovery, the results continue the improvement seen in 2025, when average production rose by 5.7 per cent from 50,890 barrels per day in 2024,’ the Energy Chamber said. It said that the increase followed several years of generally lower production.

Crude oil and condensate output averaged 71,705 barrels per day in 2016 before falling to 56,472 barrels per day in 2020. Production recovered to 59,865 barrels per day in 2021 before easing to 58,450 barrels per day in 2022, 53,726 barrels per day in 2023 and 50,890 barrels per day in 2024.

The Energy Chamber said that the improvement during the first quarter of this year was led by stronger production from EOG Resources, Perenco and bpTT.

EOG recorded the largest year-on-year increase. The company’s crude and condensate production averaged 3,821 barrels per day during the first three months of 2026, compared with approximately 1,773 barrels per day during the same period last year. Production exceeded 4,000 barrels per day in both January and February before easing in March.

Perenco also posted a strong increase. Average production reached 10,156 barrels per day in the first quarter, up from about 8,309 barrels per day during the corresponding period in 2025. Output remained above 10,000 barrels per day in both February and March.

bpTT also contributed to the national increase. Liquids production averaged 4,906 barrels per day during the first quarter, compared with approximately 3,263 barrels per day in the same period last year. Monthly production remained relatively consistent throughout the quarter, ranging between 4,812 and 5,047 barrels per day.

Smaller gains were recorded by Heritage Petroleum’s exploration and production service contract operations, TETL’s Central Block and SESL.

‘The first-quarter figures broadly align with the government’s expectation that national oil production will strengthen over the next several years,’ the Energy Chamber said, acknowledging tha ‘the increase recorded so far is modest, but it is encouraging.

‘ After reaching its lowest annual average in recent years during 2024, production improved in 2025 and has remained above last year’s level during the opening months of 2026. Whether that trend continues will depend on drilling activity, maintenance schedules, field performance and the timing of new developments over the remainder of the year.’

United States Deputy Secretary of State, Christopher Landau, Monday said the re-opening of a steel company here reflects a commitment made by the leaders of the two countries ‘to stimulate economic growth in each of our respective countries’.

Landau, who is expected to hold talks with Prime Minister Kamla Persad-Bissessar, told the the ribbon-cutting ceremony for the Ibis Steel Company at Point Lisas in central Trinidad, on the site of the former ArcelorMittal plant, which closed in 2016, that the event represents a new chapter in relations between Trinidad and Tobago and the United States.

‘Both President Trump and Prime Minister Persad-Bissessar came into office last year pledging to stimulate economic growth in each of our respective countries, and I think you can see at a place like this that both our countries over the last several decades have faced serious challenges in industrial development and in manufacturing’.

He said both countries have experienced closure of several plants and that both leaders came ‘ into office pledging to restart industrial economies that had fallen by the wayside.

‘That was a promise made to the voters, and that was a promise that both these leaders fully intended to fulfil. These weren’t just going to be words, they’re going to be actions, and so …our mission is to actually take our leader’s vision and transform it into reality’.

Landau said both countries are ‘free market economies, and so we in the government can’t just direct with the waving a magic wand, well this will now happen.

‘In the United States, we did many terrible things over the last several decades, and I don’t know you in Trinidad what your experience is, but in our country we basically destroyed our own mining industry, our own processing industry through excessive environmental regulations, really counterproductive ones.

‘Everybody wants a clean and safe environment, but at some point layers of regulation upon regulation don’t really materially help the environment, but they just certainly create a nightmare for people who are trying to run a business.’

He said such difficulties allowed for many US factories to relocate to China ‘and we saw factories like this shuttered across our country, and now I see it’s not just our country, it’s other parts of the world that face the same thing.

‘I think there is nothing more beautiful, frankly, than being able to see a plant like this that’s been shuttered come back to life. It’s like Lazarus arising from the dead again, and this is not just the metal that we’re seeing here, it’s the lives that are impacted’

Ibis Steel Company is a local subsidiary of the US-based Pinnacle Steel and Vanadium Corporation occupying the site of the former ArcelorMittal steel mill that closed in March 2016 due to prolonged financial losses, a crash in global steel prices, mounting debt, and fears over rising domestic electricity and natural gas costs, resulting in the abrupt dismissal of over 600 worker.

Landau said that the Trinidad and Tobago government has spoken ‘very eloquently’ about the 644 jobs, adding ‘those jobs are coming back, as well as all the many other jobs.

‘And that’s a win not only for Trinidad, but also for the United States, because this is one of the things that we lost, then, is not only the jobs, but also the strategic positioning. We let a lot of our critical supply chain completely fall out of our hands, so that we found that if we need certain minerals or other essentials for life, guess what?

‘We’re dependent on a foreign country that may not have our best interests at heart. It is a strategic imperative for us as the United States to revitalise these kinds of projects. It’s all about the private sector, ultimately, so I just want to give a huge shout out to Pinnacle for really recognising this opportunity here and for stepping into the breach,’ the US Deputy Secretary of State said.

He said he is pleased that Pinnacle has recognised the value of international investments for the good of the American people, adding ‘mean, this plant is exactly what we’re talking about in diplomacy when I say there are so many win-win situations.

‘I mean, we need these critical minerals. You need jobs. You have tailings and industrial residue that’s been left over from 100 years of industrialisation. This is a perfect example of what we’re talking about.

‘I mean, that is great for Trinidad. It’s great for the United States, and I’m just really grateful to a company like Pinnacle for stepping into the breach,’ he said, praising the private sector for looking for opportunities’.

‘I want to, again, thank the government of Trinidad for also recognising that you had a serious company here and coming to the table. I know these were tough negotiations …(and) that this was still in play through last night or maybe even early this morning.’

He said re-opening the plant would be advantageous to the United States that rely on rock and ore that used to produce steel ‘which goes into our battleships, into our skyscrapers…

‘When we’re talking about the strategic imperative of ensuring our critical mineral supply chain, this is exactly what we’re talking about. And so again, it is amazing to be here in Point Lisa’s Trinidad,’ Landau said, adding that Prime Minister Persad-Bissesar ‘has just been an incredible partner’.