• Cement is strengthening its role in the Dominican Republic’s export performance, with the country’s cement industry emerging as a leading exporter of cement, lime, and gypsum in Latin America and the Caribbean.
• According to data from the General Directorate of Customs (DGA) cited by the Regional Centre for Sustainable Economic Strategies (Crees), Dominican exports totalled US$3.34 billion from January to June 2026, a 35.1% increase compared with the same period in 2025. The chemicals and minerals sector contributed US$295 million, or 8.8% of total exports, with cement and copper accounting for 4.8%.
• The Dominican Association of Portland Cement Producers (Adocem) said the figures demonstrate the importance of maintaining a strong domestic industrial base capable of meeting local demand while competing in international markets.
• A Ministry of Industry, Commerce and MSMEs (MICM) report found that Latin America and the Caribbean exported US$581.3 million in cement, lime, and gypsum in 2025. The Dominican Republic accounted for 25.4% of those exports, making it the region’s leading exporter and placing it ahead of Mexico and Guatemala.
• Crees has warned that Dominican exports remain concentrated in a limited number of sectors and has called for greater diversification and the promotion of higher-value products. Adocem argues that strengthening local manufacturing can contribute to that goal by encouraging investment, innovation, efficiency, and sustainable production.
• The association also emphasised the importance of public policies that promote productive investment, legal certainty, competitiveness, and better access to international markets, allowing domestic industries to expand production and create greater economic value in the country.

Source: Dominican Today)

• As the clock ticks toward U.S. President Donald Trump's latest tariff deadline, Canada and the U.S. aren't at a point where a tariff deal can be reached.
• Canadian officials are not satisfied with the latest U.S. offer, according to two sources with knowledge of the trade talks. According to sources on both sides of the border, the Americans offered a new proposal on Tuesday which would lower some of the sectoral tariffs but not to the degree that the Canadian side would like to see.
• LeBlanc, the Canada-U.S. Trade Minister, posted to X saying that discussions are "ongoing" and he and Charette, Canada's chief trade negotiator, will "continue to engage at the negotiation table." In addition to trying to dissuade Americans from levying new tariffs, LeBlanc and Charette are looking for relief on tariffs the U.S. has slapped on Canadian steel, aluminium, lumber and autos.
• Negotiators have been going back and forth in recent weeks in an effort to reach some sort of deal before Aug. 19, which is when Trump has promised a 50 per cent levy on hundreds of Canadian goods in addition to the sectoral tariffs already in place. The Americans are seeking a deal that would see preferential access to Canadian critical minerals and cover security and energy, the sources said.
• Sources told CBC News last week that the Canadian side has aggressively argued to the Americans that there would be no political appetite among Canadians to keep talks going if the Aug. 19 tariffs come into place.
• Canada is also hoping the ongoing trade talks between the two countries will result in a renewal of the Canada-U.S.-Mexico Agreement (CUSMA) after the Trump administration last month declined to extend the deal past 2036.

(Source: MSN)

• U.S. producer prices were unchanged in July as goods prices fell and the cost of services increased marginally, bolstering financial market expectations that the Federal Reserve could keep interest rates unchanged next month.
• "It's now looking far less likely that the FOMC will feel the need to hike as soon as September," said Stephen Brown, chief North America economist at Capital Economics. The flat reading in the Producer Price Index for final demand last month followed ​a revised 0.1% drop in June, the Labor Department's Bureau of Labor Statistics said. Economists polled by Reuters had forecast the PPI rebounding 0.2% following a previously reported 0.3% decline in June.
• In the 12 ​months through July, the PPI increased 4.7% after advancing 5.5% in June. Most of the PPI data are collected early in the month, meaning that sharp oil price ⁠increases toward the end of July were probably not reflected in the PPI. As such, economists expected higher PPI readings in August, and some saw a rate hike this year as still on the table.
• Goods prices dropped ​0.7% after sliding 1.4% in June. Energy prices decreased 3.1%, with wholesale gasoline prices falling 5.7%. Food prices declined 0.9% as fresh and dry vegetables tumbled 34.9%. Wholesale lettuce prices plunged a record 73.0% amid a cyclosporiasis outbreak, helping to ​more than offset a 37.0% surge in egg prices. Grain prices shot up 14.8%.
• Excluding the volatile food and energy components, goods prices rose 0.1%, lifted by a 1.3% advance in tyres as well as a 1.5% increase in iron and steel scrap, and 4.2% surge in transformers and power regulators. A narrow measure, which strips out foods, energy and trade services, rose 0.4% after edging up 0.1% in June. The so-called core PPI increased 4.7% in the 12 months through July after rising 5.0% in June.
• The cost ​of services increased 0.2% after climbing 0.5%. They were lifted by a 6.5% jump in portfolio management fees. That was partially offset by a 3.4% decrease in airline fares. Hospital outpatient prices increased 0.9%. Hotel and motel ​room prices fell 0.2%. The cost of transporting freight by road dropped 1.8%.
• Portfolio management fees, airline fares, and hotel and motel rooms are among the components that go into the calculation of the PCE inflation measures. Based on the CPI and PPI data, ‌economists forecast ⁠the PCE price index rebounding 0.1% in July after dipping 0.1% in June. That would translate to a 3.6% year-on-year increase in PCE inflation after rising 3.7% in June.

(Source: Reuters)

• TransJamaican Highway Limited (TJH) picked up speed in the second quarter ended June 30, 2026 (Q2 2026), with net profit accelerating 33.4% YoY to US$11.63Mn, supported by higher revenues, wider operating margins and lower finance costs.
• Toll revenue remained firmly in the fast lane, accelerating 26.5% to US$28.46Mn, as traffic growth continued across the road network, including Phase 1C, which commenced commercial operations in December 2025. Other gains, however, shifted to a lower gear, declining to US$0.65Mn on lower foreign exchange gains and investment income.
• Higher costs accompanied TJH’s expanded road network; operating expenses increased 15.8% to US$6.84Mn from US$5.90Mn, reflecting higher maintenance, operational support and amortisation costs on the Phase 1C corridor. However, revenue growth continued to outpace the rise in costs, with the operating margin widening to 69.0% from 68.3%, despite a 6.2% increase in administrative expenses to US$2.63Mn.
• Lower financing costs provided another tailwind to earnings, easing to 7.7% to US$3.13Mn as scheduled quarterly principal repayments on the secured notes continued and 20% of the cumulative redeemable preference shares were redeemed in January 2026. Consequently, profit before taxation surged 37.8% to US$16.51Mn, although a 49.3% increase in taxation to US$4.88Mn put the brakes on some of the bottom-line gains.
• The strong quarter kept TJH on track for a solid first half, with toll revenue rising 27.7% YoY to US$57.48Mn from US$45.01Mn, while lower finance costs helped drive profit before taxation up 38.3% to US$33.29Mn. Net profit consequently surged 39.8% to US$24.86Mn, demonstrating the earnings benefit from the expanded network and continued traffic growth.
• Looking ahead, TJH is positioning itself for the next leg of its growth journey. In addition to a full-year contribution from Phase 1C, continued traffic growth and increasing t-Tag penetration, the company is exploring further opportunities to extend its growth runway, including a potential operating role in the Montego Bay Perimeter Bypass, which is currently under construction and expected to be completed in 2026–2027.
• Discussions are also underway with National Road Operating and Constructing Company Ltd. (NROCC) regarding potential North-South and East-West highway extensions, while early discussions with the Government of Jamaica have begun around exercising the 2036 concession extension option. Collectively, these initiatives could broaden TJH’s operating footprint and provide additional avenues for longer-term earnings growth.
• However, there could still be a few speed bumps along the way. Earnings remain concentrated in a single tolled concession and are therefore sensitive to fuel costs, consumer activity and disruptions along the corridor. Furthermore, the expanded network brings structurally higher operating and amortisation costs, which could take some mileage out of the incremental revenue gains from Phase 1C.
• Investors have already driven TJH’s share price significantly higher, with the stock advancing 129.5% YTD. At its current price, TJH trades at a P/E of 19.7x, above the Main Market Energy, Materials and Industrials sector average of 18.6x, suggesting that a sizeable portion of the improved earnings outlook may already be reflected in the stock’s valuation.

(Sources: TransJamaican Highway Limited Unaudited Consolidated Financial Statements & NCBCM Research)

• OMNI Industries Limited (OMNI) reported a net profit of $56.87Mn for the second quarter ended June 30, 2026 (Q2 2026). This 9.9% increase relative to Q2 2025 was due to rising revenues, which outweighed expense growth.
• Q2 revenue increased 23.2% to $637.21Mn. This was largely attributed to continued strong demand for building materials as reconstruction activity following Hurricane Melissa. This was a tailwind for its construction segment, which accounted for 57% of revenue.
• However, cost of sales climbed faster to $378.27Mn (+28.9%), meaning gross profit rose 15.6% to $258.94Mn, and the gross margin narrowed to 40.6% from 43.3%. Management linked the input cost pressure to sourcing raw materials from alternative suppliers to work around shipping delays, cancellations and higher freight costs.
• Operating expenses increased 16.9% to $200.98Mn. Factory expenses led the rise, up 38.7% to $82.52Mn on higher haulage costs and depreciation from recently commissioned machinery. Administrative expenses edged up 3.3% to $74.10Mn, and selling expenses rose 9.0% to $44.36Mn. As a result, operating profit grew 9.9% to $66.03Mn, and operating margins tightened from 11.6% to 10.4%.
• With net finance costs up 9.8% to $9.16Mn and the company still exempt from income tax until June 2029 under its Junior Market incentives, net profits kept pace with operating profit growth.
• While more modest than its post-Melissa blowout in Q1 2026 (+179.7%), OMNI’s Q2 results still helped achieve a 73.6% increase in 6M earnings to $142.55Mn.
• Looking ahead, management is leaning on proactive cost management, supplier renegotiation, disciplined procurement and inventory optimisation to defend margins. The company also expects reconstruction-linked demand to remain supportive. However, risks sit in expense management and in working capital. Fuel prices, geopolitical instability. Disrupted shipping routes continue to lift input and freight costs faster than selling prices, while the sizeable inventory build and thinner cash position leave the Group exposed should rebuild demand normalise sooner than expected.
• Ince the start of the year, OMNI’s share price declined by 2.0%. At this price, the stock trades at a P/E of 11.8x, which is below the Junior Market Distribution sector average of 17.7x.

(Sources: OMNI Industries Limited Unaudited Financial Statements & NCBCM Research)

• Business leaders in central and south Trinidad were unanimous in their views that the refurbishment and refashioning of the steel plant on the Point Lisas Industrial Estate would be a significant boost to the economy of the region, by generating new jobs and foreign exchange.
• Ibis Steel Company of Trinidad and Tobago hosted a ribbon-cutting ceremony on the site of the ArcelorMittal plant, which shut down in March 2016. Ibis Steel is a subsidiary of US-based metals and industrial investment company Pinnacle Steel and Vanadium Corporation. In opening remarks, Pinnacle’s chief executive officer, Edwin Bennett, said the company’s initial investment is planned at US$250 million, and it proposes to create 350 jobs during the restart of the facility and 500 full-time jobs.
• “After an expansion in the future, we plan to spend another US$500 million dollars and double the number of jobs to 1,000,” said Bennett, adding that the company is planning first production by the end of 2027.
• President of the Chaguanas Chamber of Industry and Commerce, Baldath Maharaj described the development as a major win for central Trinidad and by extension, the wider economy. “For one, that will generate much-needed foreign exchange and boost non-energy exports. But just as important, that will also bring solid jobs back to the Point Lisas Industrial Estate. And when people start working, the confidence returns, spending power goes up, and the local businesses right here in Point Lisas and Chaguanas benefit from that ripple effect,” Maharaj said.
• President of the Couva/Point Lisas Chamber of Commerce and acting president of the Point Lisas Industrial Port Development Corporation (Plipdeco) Deoraj Mahase said the refurbishment of the plant and the start of production will have a multiplier effect on the fenceline and national communities. Meanwhile, President of the Greater San Fernando Area Chamber of Commerce Kiran Singh said the development could be pivotal in addressing recent concerns about unemployment and the downstream industry of the energy sector.
• Vanadium is a metal that is much in demand in the US and the EU for the aerospace industry, for batteries, and for the steel industry. “Our vision is to produce the equivalent of 50 per cent of American consumption of vanadium. In other words, 100 per cent of the quantity of vanadium that the United States imports,” said Bennet.

(Source: Trinidad & Tobago Guardian)

• China's central bank said on Wednesday it would maintain an appropriately loose monetary stance and roll ​out practical, effective measures as needed, but stopped short ‌of signalling explicit cuts to policy rates or banks' reserve-requirement ratio.
• The People's Bank of China will make full use of existing policies, promptly plan ​and roll out additional measures, step up counter-cyclical adjustment, ​and intensify efforts to expand domestic demand, the central ⁠bank said in its quarterly monetary policy implementation report.
• The central ​bank will strengthen monetary policy's coordination with fiscal policy to support economic ​growth and the stable operations of the financial market, it said. "The foundation for the economy's steady, positive momentum still needs to be consolidated," the ​central bank said.
• The global environment remains complex and ​volatile, with weak global growth, slowing trade, and imported inflation pressures pushing up ‌prices in many countries. At home, China still faces an imbalance between strong supply and weak demand, as new challenges compound longstanding problems, it said.
• China's leaders pledged at a July meeting ​to support the ​slowing economy by ⁠accelerating fiscal spending on already-budgeted infrastructure projects in the second half, rather than rolling out ​major new stimulus measures.
• Second-quarter growth slowed to ​4.3%, ⁠the weakest pace in more than three years and below the bottom end of the government's 4.5%–5.0% full-year target range. Still, a ⁠stronger-than-expected ​start to the year has given ​Beijing room to avoid a more forceful policy response, analysts say.

(Source: Reuters)

• Ship traffic through the Strait of Hormuz is near a three-month low as doubt grows that the U.S. and Iran will reach an agreement to fully open the key Middle East oil export corridor.
• Vessel transits sat at a five-day average of around 13 on Tuesday, nearly the lowest level since May 12, according to a CNBC analysis of data provided by the trade intelligence firm Kpler. This includes ships of all types, from cargo vessels to oil tankers.
• Traffic is about 90% lower than the daily average of 130 ships that transited Hormuz before the U.S. and Israel attacked Iran on Feb. 28. However, Energy Secretary Chris Wright said Tuesday that oil exports through Hormuz have reached a seven-day average of nearly 9 million barrels per day as tankers transit the strait with U.S. military assistance. A single supertanker can carry about 2 million barrels.
• Total oil exports from the Gulf states are averaging about 15 million bpd when pipelines are included, Wright said. Before the war, about 20 million bpd of crude oil and products were exported through Hormuz.
• Iran’s top national security official Mohsen Rezaei said Tuesday that Hormuz will not open fully until Washington agrees to Tehran’s demands, according to the state news outlet PressTV.
• A week ago, Treasury Secretary Scott Bessent told CNBC that a deal could come soon to open Hormuz with freedom of movement for ships. Bessent’s comments helped drive an oil sell-off last week, but an agreement between the U.S. and Iran still has not materialised.

(Source: CNBC)

• For the first quarter ended June 30, 2026 (Q1 2026), LASCO Financial Services Limited (LASF) reported net profit of $45.55Mn, up 12.4% from $40.52Mn in the corresponding period of 2025. The improvement came as lower finance costs and a reduced tax charge more than offset a decline in operating profit.
• Total income rose 3.2% to $573.07Mn from $555.49Mn. Core income advanced 6.2% to $540.25Mn, supported by higher remittance transaction volumes and expanding digital financial services activity, including stronger contributions from the Group's e-commerce offering. Other income, however, fell 29.5% to $32.82Mn, tempering overall topline performance. Lending income was constrained by lower disbursement levels in the latter part of FY2025 and into the first quarter.
• Operating Expenses (OPEX) increased 5.0% to $493.77Mn, which management characterised as broadly in line with inflation. Administrative and other expenses were essentially flat at $281.93Mn, while selling and promotion expenses climbed 12.3% to $211.84Mn. With OPEX outpacing revenues, operating profit declined 7.1% to $79.30Mn. However, a 31.4% fall in finance costs to $15.95Mn on scheduled debt repayment and a 17.5% dip in taxation to $17.80Mn offset the operating profit decline.
• Looking ahead, management continues to invest in digital infrastructure to support remittance services and the LASCO Gold Visa Prepaid Card, while intensifying efforts to build a more differentiated presence in the microcredit market. However, LASF faces risks concentrated in the lending book and the cost line. Hurricane-affected customers are still being regularised, disbursement levels remain subdued, and selling and promotion spend is growing well ahead of income, leaving operating profit exposed should the finance cost and tax tailwinds fade.
• LASF’s share price declined by 15.6% year-to-date to close at 1.52 on August 11^th. At this price, the stock trades at a P/B of 0.79x, which is below the Junior Market Financial sector average of 1.36x.

(Sources: LASCO Financial Services Limited Unaudited Financial Statements & NCBCM Research)

• Massy Holdings (MASSY) Limited delivered weaker earnings in Q3 FY2026. Despite continued revenue growth, Q3 2026 declined 32.4% YoY to TT$112.96Mn, weighed down by softer operating profitability and a sizeable TT$44.15Mn loss on the sale of discontinued operations.
• Revenue increased 5.6% to TT$4.14Bn, although underlying conditions were mixed across Massy’s portfolio. Motors & Machines remained a bright spot, up 16.0% supported by strong revenue growth and improved profitability, particularly in Colombia. The Integrated Retail Portfolio is up 5.0% but continued to face challenges in Barbados and the United States. Meanwhile, the Gas Products Portfolio (+2.0%) was affected by softer Jamaican operations following Hurricane Melissa. These pressures, alongside ongoing investments in technology and operational improvements, are likely to keep near-term revenue growth tempered.
• That said, profitability from continuing operations came under pressure, with operating profit after finance costs declining 23.5% YoY to TT$188.14Mn. While the financials didn’t display a breakout, it suggests that the combined effects of direct, operating and finance expenses grew by 7.6% to TT$3.95Mn. Management, however, attributed the decline to transformation investments in technology, safety and financial processes and controls, alongside the temporary impact of Hurricane Melissa on Jamaica.
• Profit before tax fell 23.9% to TT$192.70Mn and TT$74.17Mn in taxes meant profit from continuing operations declined 27.9% to TT$118.53Mn.
• The quarter was further impacted by the disposal of Massy Distribution (Jamaica) Limited, which resulted in the TT$44.15Mn loss on sale recorded under discontinued operations. The transaction forms part of Massy’s strategy to concentrate capital in businesses where it sees stronger long-term returns. Still, the disposal-related charge largely reflected the reclassification of accumulated foreign-currency translation losses rather than a current cash outflow.
• Massy’s weaker Q3 performance added further earnings pressure that started in Q2. Consequently, while 9M revenue increased 6.8% YoY to TT$12.65Bn, profit from continuing operations declined 7.5% to TT$490.79Mn. Including a TT$109.75Mn loss on the disposal of Massy Distribution (Jamaica) in Q2, 9M net profit is down 31.9% to TT$370.00Mn. Management notes that excluding these one-off items, pre-tax earnings would have exceeded the prior-year period, pointing to greater resilience in its core operations than the headline profit decline suggests.
• Entering the final quarter of FY2026, management expects Jamaica's post-Melissa recovery to support a rebound in profitability early in the next financial year. Currently, the company is prioritising cash conversion, inventory productivity and turnaround plans in underperforming markets. Moreover, capacity investments remain important and is evidenced by the new Orange Grove facility in Trinidad & Tobago and the planned Massy Hub at Houston, Guyana. However, Geopolitical uncertainty, shifting trade and regulatory policy, inflation, foreign-exchange constraints and uneven consumer demand persist across the Group's markets. In addition, the near-term earnings drag from transformation spending will continue until it converts into measurable efficiency gains.

• MASSY’s share price has declined by 4.6% to $72.44. At this price, the stock trades at a P/E of 10.9x, which is below the Main Market Conglomerate sector average of 11.8x.

(Sources: Massy Holdings Ltd. Unaudited Consolidated Financial Statements & NCBCM Research)