• In response to the increasing number of real estate scams in the Dominican Republic, Senator Eduard Espiritusanto of La Romana has introduced a bill aimed at regulating and professionalising the sector.
• The proposed law would require real estate brokers and agents to obtain official licenses, complete mandatory training, and adhere to transparency and consumer protection standards. It also establishes a National Registry of Real Estate Intermediaries, supervised by the Ministry of Industry, Commerce, and MSMEs (MICM), which will oversee licensing and penalize fraudulent practices.
• The bill includes strict penalties for unauthorized real estate activities, including fines of up to 50 minimum wages, business suspensions, and criminal charges for fraud or identity theft. A key feature is the introduction of a Geolocation Service for Georeferenced Properties, allowing individuals to verify the legal status, ownership, and location of registered properties in coordination with the Real Estate Jurisdiction.
• Espiritusanto emphasized the urgent need for this law, highlighting the devastating impact of scams on Dominican families, particularly those living abroad. The bill also proposes measures such as mandatory civil liability insurance for brokers, regulation of commission fees, and stricter controls on real estate advertising to prevent misleading promotions. The senator believes these reforms will create a safer, more trustworthy real estate market that protects buyers and enhances the country’s reputation.

(Source: Dominican Today)

• A U.S. flight carrying 135 deportees, half of them minors, from various countries was set to land Thursday in Costa Rica, making it the second Latin American nation to serve as a stopover for migrants as U.S. President Donald Trump‘s administration steps up deportations.
• Upon arrival, the migrants will be bused from Costa Rica’s capital to a rural holding facility near the Panama border, where they will wait up to 30 days to be flown back to their countries of origin, said Omer Badilla, Costa Rica’s deputy minister of the interior and police. The U.S. government will cover the costs.
• The arrangement is part of a deal the Trump administration struck with Costa Rica during U.S. Secretary of State Marco Rubio’s visit earlier this month. Similar agreements have been reached with other Latin American nations, but the concept of using third countries as deportation layovers has drawn strong criticism from human rights advocates.
• Beyond the conditions of their detention in Costa Rica, concerns revolve around international protections for asylum seekers and whether these deportees will be appropriately screened before being returned to their countries or sent to yet another country.
• Costa Rican President Rodrigo Chaves told reporters Wednesday that his country is helping its “economically powerful brother from the north.” It comes as Trump has pressured countries across the region to help facilitate deportations at times under the threat of steep tariffs or sanctions.
• Panama this week became the first such country to accept 299 deportees from other nations, with the government holding them in hotel rooms guarded by police. About one-third of those who refused to voluntarily return to their countries were sent to a remote camp in Darien province bordering Colombia on Wednesday. The rest were awaiting commercial flights back home.

(Source: AP News)

• Atlanta Federal Reserve President Raphael Bostic said on Thursday the U.S. central bank should still be able to lower interest rates by half a percentage point this year, though there remains extensive uncertainty about the impact of President Donald Trump's trade and immigration policies. Two quarter-percentage-point rate cuts are "my baseline expectation," Bostic told reporters on a call, but "the uncertainty around that is pretty significant ... There's a lot that could influence that in both directions."
• In an essay released on Thursday, Bostic said he did not think the U.S. is facing a new burst of inflation, though he added that there was "widespread apprehension" among businesses about how new import taxes, immigration rules, and changes to regulations will affect the outlook.
• The Fed held its benchmark interest rate in the 4.25%-4.50% range at its meeting last month and is expected to do so again at its March 18-19 meeting as officials wait for more clarity on how the economy responds to new tariffs and stricter immigration rules. Investors feel recently sticky inflation readings and the risks from tariffs and other policies may only allow the Fed to cut rates once this year.
• Housing inflation is still expected to ease, Bostic said, relieving a major remaining driver of overall price increases. The labour market is showing signs of slack even while sustaining a low unemployment rate of around 4%, and businesses say expected deregulation may ease cost pressures, he wrote.
• Firms are also planning to pass along new import taxes to consumers, he said, and are also worried about the impact stricter immigration rules may have on the availability of labour. Regarding upcoming policy shifts, "we've heard not only enthusiasm - particularly from banks, about possible shifts in tax and regulatory policies - but also widespread apprehension about future trade and immigration policy," Bostic wrote.
• Businesses generally have not reacted to Trump administration plans that remain in flux, but the situation has created "pervasive" uncertainty about the course of the economy this year, Bostic said. That may eventually lead to further interest rate cuts, but for the time being Bostic said monetary policy was "in a good place and the economy is strong ... For various reasons, this is no time for complacency."

Source: (Reuters)

• The Bank of Japan will hike interest rates only once more this year, most likely during the third quarter to 0.75%, according to a majority of economists in a Reuters poll published on Thursday. The survey also showed analysts' median prediction for the rate of pay increases in wage talks this year is 5%, close to last year's 33-year-high, an encouraging sign for the BOJ to continue raising interest rates.
• It would leave the BOJ as a rare global outlier pushing for higher rates, albeit from a very low level, even as other major central banks cut rates to shore up their economies as concerns mount over U.S. President Donald Trump's tariff policies. All 61 economists in the February 12-18 poll expected borrowing costs to remain unchanged in the March 18-19 meeting and only a small minority, 19 of 61, saw at least one 25-basis-point hike to 0.75% next quarter.
• Over 65% of respondents, 38 of 58, predicted a rate hike to 0.75% in July or September. The Japanese swap market is pricing in another 35 basis points of rate hikes through to the end of the year or a 69% chance of two further 25-basis point increases.
• In January the BOJ raised its short-term interest rate to 0.50% from 0.25%, the highest since the 2008 global financial crisis, reflecting its conviction Japan was making progress in sustainably achieving its 2.0% inflation target. A BOJ board member said on Wednesday the central bank must increase borrowing costs more as keeping them at current low levels could cause excessive risk-taking and cause an inflation spike.
• Separately, the median of 28 economists who offered their view on the rate of pay increases at this year's spring labour-management negotiations was 5%, up from 4.75% in a poll last month. It was the first time the poll median touched 5% for wage increases.

(Source: Reuters)

• Wigton Energy Limited (Wigton), formerly known as Wigton Wind Farm, saw its profits decline for the 9 months ending December 31, 2024 (9M 2025), as headwinds to its Q3 2025 performance added to already weak performance for the first 6 months of its financial year.
• Q3 Sales and other income, which constitute total revenues, fell by 16.6% and 56.1% to J$370.38Mn and J$25.42Mn, respectively. However, 9M revenues are still up 3.2%, owing to higher energy production levels up to June 2024 and a business interruption insurance provision of $239.4Mn after Hurricane Beryl.
• Q3 direct costs fell 10.2% over the quarter but it only partially offset the fall in revenues, resulting in a 25.6% gross profit decline to J$138.20Mn. Meanwhile, operating costs rose 26.8% amid higher general administrative expenses. As a result, Wigton had a Q3 operating loss of J$23.22Mn, down from an operating profit of J$96.15Mn in the previous year (Q3 2024).
• However, finance expenses declined for the quarter, down by 16.1% as the Company continues to benefit from the March 2022 restatement of its Bonds, which introduced lower interest rates and quarterly principal payments.
• With the lower revenues and higher operating expenses, the company experienced a net loss of J$81.38Mn for Q3 2025 and when added to its weakened H1 2025 performance resulted in a 9M 2025 net profit of J$228.42Mn (-53.4%year on year).
• Going forward Wigton is looking to achieve sustained profitable growth by diversifying into other renewable energy solutions while improving operational efficiency and seeking solo or partnered investment opportunities. Successful execution will be critical to drive earnings growth and growing shareholder value.
• At the close of the stock market on February 19, 2025, Wigton's share price stood at $1.24, implying a P/E ratio of 20.0x, which is below the average for the Energy, Industrials and Materials (EIM^[1]) industry of 23.66x.

(Sources: JSE & NCBCM Research)

^[1] The EIM industry consists of CCC, MPCCEL, WIG, TJH, KW, and BRG

• News that Controladora Dolphin S.A. de C.V (Dolphin Discovery Group) – the owner of local tourist attraction, Dolphin Cove (DCOVE) and other dolphinariums^[1] – filed for bankruptcy sent DCOVE’s stock on the Jamaica Stock Exchange (JSE) diving this week.
• The dolphinariums of Eduardo Albor, who is the president, is said to owe more than US$200Mn in liabilities to funds associated with Prudential Insurance, Cigna Insurance and Life Insurance. According to a report by El Heraldo de Mexico, Gerardo Badín, Mexican Insolvency Conciliator, was appointed as the inspector/conciliador to oversee the bankruptcy proceedings.
• The group of dolphinariums is considered one of the largest in the world. Still, it has been in decline, apparently due to the termination of the contract of the Miami Seaquarium dolphinarium in April 2024 and subsequent eviction proceedings initiated by Miami-Dade County. This followed concerns from the United States Department of Agriculture over the mistreatment of animals and repeated violations of animal welfare by the Miami Seaquarium.
• Following the news, DCOVE’s shares on the JSE sank by 29.1% to $15.18 between Tuesday and Wednesday, wiping out J$1.73Bn (US$10.95Mn) in market capitalisation after the reports emerged about its Parent Company’s filings.
• Under Mexican law, a "debt restructuring" process, also known as a "concurso mercantil," would allow a company like Dolphin Discovery to negotiate with its creditors to extend the repayment period of its debts, allowing it to continue operations while negotiating payment terms with creditors.
• That said, the Dolphin Company has since shared a statement clarifying that Controladora has filed to restructure its financial liabilities under the protection and supervision of a Mexican court specialised in financial debt restructuring. The report expressed that this process is not considered a bankruptcy filing but rather a mechanism provided by Mexican laws to facilitate an agreement with the main creditors, protecting the interests of other suppliers, employees, and customers, as well as the company’s assets for its benefit. The company also expressed that it will define the best strategies to facilitate the fulfilment of its obligations in the medium and long term, while also continuing its development and expansion.

(Sources: Reportur, NBC Miami, NCBCM Research)

• China will always be Latin America's "trustworthy" friend and partner, its foreign minister told his Bolivian counterpart, as Beijing looks to improve its foothold in a region historically under the U.S. sphere of influence.
• China wants to "continuously elevate the China-Bolivia strategic partnership", Wang told Bolivia's Foreign minister Celinda Sosa. Bolivia, which established diplomatic ties with Beijing in 1985, is among many countries in South America that have bonded economically with China through debt and investment.
• The resource-rich country owes China, the world's biggest bilateral lender, over US$1.7Bn according to World Bank data. Chinese firms have invested a further US$6.0Bn, statistics from the American Enterprise Institute think tank show, mostly in Bolivia's metals, energy and transport sectors. U.S. foreign direct investment in Bolivia stands at around US$430.0Mn, U.S. State Department data shows, predominantly in the oil and gas and manufacturing sectors.
• The U.S. and China look set to go toe-to-toe in Central and South America over U.S. President Donald Trump's second term, with Chinese investments in the region, particularly in energy and infrastructure, challenging U.S. influence.
• "China supports Latin American countries in defending their sovereignty, independence and national dignity," Wang said. He also congratulated Bolivia on becoming a member of BRICS, a group of developing nations founded by Brazil, Russia, India and China to rival a Western-dominated world order. The group has since grown to also include South Africa, Egypt, Ethiopia, Indonesia, Iran, Saudi Arabia and the United Arab Emirates.
• Trump has repeatedly warned the BRICS not to challenge the dominance of "the mighty U.S. dollar," and threatened members with a 100% tariff "if they want to play games with the dollar."

(Source: Reuters)

• Panama's security minister said on Tuesday that more than half of the migrants deported from the United States to transit point Panama in recent days had accepted voluntary repatriations to their home countries, largely in Asia or the Middle East.
• U.S. President Donald Trump's administration deported the migrants on three flights, part of his crackdown on unlawful migration. “The 299 migrants have been staying at a hotel in Panama City under the protection of local authorities and with the financial support of the United States through the International Organization for Migration and the U.N. refugee agency,” Security Minister Frank Abrego said.
• "Today I can tell you that 171 of the (migrants) have accepted to return voluntarily," said Abrego, adding that the others will leave gradually when the U.N. provides them with their return transportation.
• In the interim, those migrants will likely be transferred to a shelter near the Darien Gap jungle in southern Panama that connects Central America with South America.
• After talks with U.S. Secretary of State Marco Rubio this month, Panama's President Jose Raul Mulino announced that a deal signed in July with the U.S. Department of Homeland Security could be expanded so that Venezuelan, Colombian and Ecuadorean migrants could also be repatriated from Panama.

(Source: Reuters)

• British inflation sped up by more than expected to hit a 10-month high of 3.0% in January and is likely to rise further soon, testing the Bank of England's confidence that price pressures will ease over the longer term.
• The BoE and economists polled by Reuters expected inflation to rise by less, to 2.8%, after December's reading of 2.5%. The Office for National Statistics said the increase in January was driven largely by a smaller-than-usual drop in airfares that month - a volatile component that had pushed inflation down in December - and a rise in automotive fuel prices
• Food prices also rose, while another factor was the increase in private school fees after the decision by the government of Prime Minister Keir Starmer to charge value-added tax on them. Overall, services prices - which feature prominently in the debate at the BoE about how quickly to cut interest rates - rose sharply to 5.0% from 4.4%, but by less than the 5.2% rate expected by economists or the central bank. The Sterling momentarily strengthened against the dollar after the figures were published before quickly settling back to its pre-release level.
• Finance Minister Rachel Reeves' decision to increase employers' social security contributions comes into effect on April 1 when Britain's minimum wage is also due to rise by almost 7%, raising questions about how much the increased costs for businesses will feed into prices. Ruth Gregory, an economist with Capital Economics, said she still thought the BoE would continue to cut borrowing costs gradually but "the risk is that the rise in inflation proves more persistent and rates are cut more slowly than we expect, or not as far".
• The BoE forecasts that consumer price inflation will peak at 3.7% in the third quarter of 2025, driven mostly by higher energy costs and regulated tariffs for items such as domestic water supply. But Governor Andrew Bailey and his colleagues say an expected slowdown in the jobs market is likely to keep a lid on higher wage demands this year, limiting the risk of a build-up of inflation pressure. Core inflation, which excludes energy, food, alcohol and tobacco prices, rose to 3.7% from 3.2% in January, in line with the Reuters poll.

Source: (Reuters)

• The Japanese government on Wednesday stuck to its view that the economy was recovering moderately but flagged U.S. trade policies as key factors to watch as President Donald Trump's proposals on tariffs cast uncertainty over the economic outlook.
• In its monthly economic report for February, the Cabinet Office maintained its overall economic assessment for the seventh consecutive month, as persistent inflation, particularly of everyday items chips away at consumer appetite.
• "Although data showed year-on-year increases (in wages) are continuing, the growth in consumption is suppressed when compared with the growth in income," a Cabinet Office official said upon the report's release.
• Japan's economy grew at a faster-than-expected annualised rate of 2.8% in the October-December quarter on gains in business spending and a surprise increase in consumption, gross domestic product (GDP) data showed this week.
• Trump has raised levies on imported steel and aluminium, is targeting automobiles, and has directed his economic team to devise plans for reciprocal tariffs on every country that taxes U.S. imports. Such proposals have stoked uncertainty for investors and policymakers and buffeted global financial markets.
• Transport equipment including automobiles account for 36% of Japan's 21.3 trillion yen ($140.12Bn) exports to the U.S., the Cabinet Office said. The transport machinery manufacturing industry accounts for 3% of Japan's GDP. The government raised its assessment on exports for the first time in 18 months, attributing it to an increase in exports of machine tools to China as well as chip-making equipment to South Korea, Taiwan and Southeast Asian countries.

(Source: Reuters)