• President Luis Abinader announced that the Dominican Republic is now the second country with the highest air connectivity index in Latin America, growing from 878 to 1,096 air routes between 2020 and 2025, thanks to the Open Skies policy.
• He emphasised that aviation is projected to contribute US$15.0Bn in direct and indirect revenue by the end of 2025, representing 11.0% of the national GDP in tourism-related contributions. The sector is also expected to create over 40,000 direct jobs and more than 540,000 indirect jobs.
• Abinader credited this progress to coordinated efforts by the Civil Aviation Board (JAC), the Dominican Civil Aviation Institute (IDAC), the Airport Department (DA), and the General Directorate of Customs (DGA).
• Recent reforms, including Laws 57-23 and 17-24, have strengthened the aviation framework with tax incentives, regulations for drone operations, improved navigation systems, and expanded training programs.
• As at 2025, the country hosts 365 active airlines—13 of them domestic—marking a 365% increase in available seats for Dominican carriers. Airlines like Arajet and Sky High Aviation have expanded connectivity to 414 destinations across 75 countries.

(Source: Dominican Today)

• The Organisation of Eastern Caribbean States (OECS) Commission said yesterday it has signed a memorandum of understanding (MoU) with the International Solar Alliance (ISA) to strengthen support for the member countries of the sub-region in advancing their sustainable energy goals.
• ISA is an intergovernmental organisation working to accelerate the adoption of solar energy technologies by providing policy support, capacity building, and technical assistance to 124 members across Africa, Latin America and the Caribbean (LAC) as well as Asia and the Pacific (APAC) regions. The OECS was represented by Antigua and Barbuda, Dominica, Grenada, St Kitts and Nevis, St Lucia, and St Vincent and the Grenadines.
• The meeting discussed advances in solar energy and opportunities to best leverage financing and partnerships to increase the uptake of solar energy. The OECS Commission said the MoU acknowledges the critical role that clean energy plays in building resilience to climate change in the Eastern Caribbean, as well as the pivotal role indigenous energy can play in transforming the economies of small island developing states (SIDS).
• It said the partnership framework establishes several areas of cooperation, including supporting the promotion of solar energy, the OECS Sustainable Energy Framework, the OECS Sustainable Energy Greenprint, and the Caribbean NDC Finance Initiative.

(Source: Trinidad Express)

• A.S. Bryden & Sons Holdings Limited (ASBH) announced that it purchased a 50% interest in Armstrong Agencies Limited (AAL), creating a partnership between the two companies. The transaction was carried out through ASBH’s subsidiary in Barbados, Retail Acquisition Company Limited (RACL), which also owns Stansfeld Scott (Barbados) Limited. In the transaction, RACL is both injecting additional capital into AAL to support future growth and purchasing shares from its existing shareholders.
• Armstrong Agencies Limited is a premier Barbadian distributor representing global brands across the food, beverage, confectionery, personal care, and pharmaceutical sectors. The family-owned enterprise has served the local market for over three decades.
• "This investment marks a significant milestone in our strategic vision for regional expansion," said Richard Pandohie, CEO of The Brydens Group. "Armstrong Agencies is a highly respected company with a deep-rooted presence in the Barbadian market. This partnership strengthens our portfolio and allows us to build upon our shared values and commitment to delivering quality products and services to the Caribbean."
• The agreement formalises a long-standing relationship between ASBH and AAL, which previously saw the two entities jointly own and operate Armstrong Healthcare, an affiliate of Bryden PI in Barbados. The investment is designed to enhance the existing partnership and enable ASBH to broaden its footprint in the Barbadian market by introducing the full range of its product portfolio.
• "We are thrilled to embark on this new chapter with A.S. Bryden & Sons Holdings," said Christopher Lambert, CEO of Armstrong Agencies Limited. "Their history of success and commitment to excellence aligns perfectly with our own. This collaboration ensures the continuity of our legacy while providing the resources and expertise needed to achieve new levels of growth and innovation. We are confident that this partnership will be of great benefit to our customers, suppliers, and employees."
• AAL's current leadership and operations team will remain in place, ensuring business continuity and a smooth transition. The acquired business will fall under the purview of Rakeesh Bernard, who serves as the CEO of the Barbados Business Unit for The Brydens Group.

(Source: JSE)

• Output prices for producers in the Mining and Quarrying industry, a component of the producers' price index (PPI), increased by 15.5% for July 2025, while another PPI component, the index for the Manufacturing industry, increased at a much slower pace of 1.1% according to the Statistical Institute of Jamaica (STATIN).
• The outturn for the Mining & Quarrying industry was driven by a 16.4% rise in the index for the major group ‘Bauxite Mining & Alumina Processing’. The PPI for the other major group, ‘Other Mining & Quarrying’, moved up by 0.1%.
• The increase in the PPI for the Manufacturing industry was largely due to the major groups ‘Food, Beverages & Tobacco’ (0.3%), ‘Refined Petroleum Products’ (4.5%) and ‘Chemicals and Chemical Products’ (1.5%).
• For July 2024 – July 2025, the point-to-point index for the Mining & Quarrying industry decreased by 6.3%. This was primarily due to a decline of 7.2% in the index for the major group ‘Bauxite Mining & Alumina Processing’.
• Meanwhile, the point-to-point index for the Manufacturing industry increased by 1.2%, mainly due to a 3.2% increase in the index for the major group ‘Food, Beverages & Tobacco’. The industry’s overall increase was; however, tempered by an 8.6% fall in the index for the major group ‘Refined Petroleum Products’.
• The rebound in Mining & Quarrying prices in July 2025 may provide a short-term boost to export earnings, but the year-over-year decline signals persistent external headwinds that could weigh on foreign exchange inflows and government revenues. Meanwhile, the steady uptick in Manufacturing points to greater stability. Looking ahead, the divergence between these two industries will remain a key factor influencing Jamaica’s overall price dynamics and balance of payments performance.

(Sources: STATIN and NCBCM Research)

• Kingston Wharves Limited (KWL) saw its second quarter ended June 30, 2025 (Q2 2025) earnings surge by 37.6% to J$922.05Mn. The increase came as higher direct revenues outpaced the rise in direct and indirect costs.
• Q2 2025 revenues rose to J$3.18Bn, (up 25.1% or J$638.714Mn year-over-year), driven by robust terminal operations and logistic services revenues. This growth came on the back of increased transshipment activities, a key area of strategic focus for the company, along with strong growth in motor units handled, increased container activity, higher volumes in bulk, and breakbulk operations.
• In line with revenue growth, direct expenses grew by 16.4% to J$1.69Bn. However, with the robust pace of revenue growth, gross profits increased by 36.8% to J$1.49Bn and the gross profit margins increased from 42.8% to 46.7%.
• Operating expenses also rose 22.3%, primarily due to head office charges to the logistics division and cost increases in connection with improved safety, security, customs protocols and technology systems. However, operating profits remained strong at J$1.13Bn (+34.1%), with operating margins rising from 33.2% to 35.6%.
• KWL’s Q2 2025 results, coupled with solid earnings in Q1 2025, contributed to higher six-month earnings (H1 2025). Net profits experience a 21.3% increase in H1 2025 to $1.72Bn, with net profit margin inching up to 28.7% from 27.7% in the previous corresponding period.
• Looking ahead, the management of KWL is approaching the remainder of 2025 with cautious optimism, navigating a more complex global trade landscape influenced by new tariffs and shipping-related charges between the United States (U.S.) and other countries. These developments continue to challenge and disrupt established supply chains and trade routes for shipping lines, cargo owners, and broader economies.
• Nonetheless, KWL’s strategic focus remains on expanding its role as a terminal and logistics centre by advancing digital transformation, upgrading infrastructure, promoting sustainability, and investing in human capital. The Company is also focused on targeted infrastructure investments that are critical to improving operational efficiency and strengthening links with key shipping services.
• As at the close of trading on Monday, September 1^st, KWL shares’ price was J$30.00, reflecting an 8.8% year-to-date decline. At this price, the shares trade at a P/E of 15.87x, which is above the Main Market Energy, Industrials and Materials Sector average of 15.85x.

(Sources: KWL Financial Release & NCBCM Research)

• Fitch Solutions anticipates that Jamaica’s fiscal trajectory will remain sustainable in FY2025/26 (FY: April–March) and beyond. For FY2025/26, the agency anticipates that total revenues and expenditures will equal 32.7% of GDP, resulting in a virtually balanced budget.
• A nearly balanced budget in FY2026/27 is also anticipated, with total revenue and expenditure at 31.2% and 31.7% of GDP. Furthermore, the primary balance (expenditures less interest payments) is set to come in at a healthy 5.3% of GDP for FY2025/2026 and 3.5% for FY2026/2027.
• Provisional estimates of government expenditure and revenue for the first three months of FY2025/2026 support this near-term view. Total expenditure for April–June 2025 was 6.5% less than the budgeted amount for this period, while total revenue aligned with the government’s budget estimates, with J$232.2Bn in total revenue collected.
• While prevailing wisdom would suggest an uptick in government outlays in the months prior to a high-stakes general election, scheduled for September 3, the most recent central government operations data does not show such a trend. Instead, data show continued fiscal restraint, which will likely continue over the near and longer terms, due to broad political commitment to fiscal responsibility, underpinning our upbeat outlook for Jamaica’s public finances.
• Overall, Jamaica’s sustainable fiscal path is supported by strong institutional and policy frameworks. Jamaica’s Fiscal Responsibility Law, established in 2010 and amended in 2014 following successful debt reduction efforts, has shaped the country’s fiscal policy and enabled successful debt reduction since its inception.
• Jamaica has also reduced its overall debt-to-GDP ratio over the past 10 years, from 121.0% of GDP to under 70% by 2024. Furthermore, the debt-to-GDP ratio will likely meet the 60% of GDP goal by 2027, in line with projections from the IMF and Jamaica’s Independent Fiscal Commission (IFC).

(Source: BMI, a Fitch Solutions Company)

• The Dominican Government, through the Ministry of Energy and Mines (MEM), signed a production-sharing contract with the Global Mining consortium for the exploration and eventual production of hydrocarbons in the Cibao Basin, a strategic step toward the country’s energy diversification and security.
• The contract was signed by the Minister of Energy and Mines, Joel Santos, and Félix Manuel Santana Reyes, the consortium’s representative, and established an eleven-year concession for the exploration and exploitation phases of both blocks.
• With this signing, the Ministry of Energy and Mines strengthens its strategy to continue consolidating a national oil and gas exploration and production industry, while preparing to launch the Second Oil Round in 2026, with new available areas that will expand investment opportunities and strengthen the Dominican Republic’s energy security.
• Minister Santos expressed optimism about this new project, as it represents a historic opportunity to confirm the country’s energy potential and lay the foundations for greater energy independence and security. The official explained that, in terms of benefits, the State will receive a minimum share of 43% of total oil revenue, along with the creation of direct and indirect jobs, technical training programs for youth, and community development initiatives.
• He also specified that the contract includes strict provisions for environmental protection and industrial safety, ensuring that activities are carried out in compliance with international sustainability standards. “Respect for the environment and sustainable development are fundamental pillars of our policy. The Global Min consortium will embrace this commitment at every stage of the project,” Santos added.

(Source: Dominican Today)

• Brazil's economic growth is estimated to have tapered off in the second quarter due to a pullback in farm output and softer industrial production, a Reuters poll of economists showed. This would mark the beginning of a widely-expected slowdown for Latin America's No. 1 economy as high local interest rates hamper Brazilian companies' access to credit.
• The economy likely expanded by 0.3% in the April-June quarter, well below the strong 1.4% rate of the first three months of 2025, according to the median estimate of 19 economists polled August 27-September 1. In annual terms, gross domestic product is seen at 2.2% compared to a 2.9% rise in the first quarter. GDP data are scheduled for release on Tuesday.
• Agricultural output likely contracted in the second quarter after a surge at the start of the year, an expected reversal in Brazil's farming cycle following the usual peak season of the sector. Manufacturing also likely remained weak, offsetting a better performance in other components of the country's industrial sector like oil production, while services probably contributed modestly.
• These trends were outlined in the central bank's monthly leading indicator, which already accounted for the impact of its restrictive monetary policy to cool down inflation. A major downturn could be avoided if the government notches up public spending more than expected, as it did in some past years.

(Source: Reuters)

• The Trump administration is pressing ahead with trade negotiations despite a U.S. appeals court ruling that most of President Trump’s tariffs are illegal. U.S. Trade Representative Jamieson Greer said discussions with partners remain active, noting that “people are moving forward with their deals, regardless of what this court may say in the interim.”
• The U.S. Court of Appeals for the Federal Circuit ruled 7-4 on Friday that Congress did not grant the president explicit authority to impose reciprocal tariffs under national emergency powers. The decision covers levies announced earlier this year against China, Canada, and Mexico, but allows them to remain in effect until October 14 while appeals proceed. Trump has vowed to escalate the case to the Supreme Court, where his advisers expect a favourable outcome given the Court’s conservative majority.
• Trade experts said the administration had anticipated the ruling and was preparing fallback options, including use of Section 338 of a 1930 trade law that permits duties of up to 50% against countries discriminating against U.S. commerce. Officials emphasised that tariff policy remains a central pillar of Trump’s foreign and economic strategy, despite heightened uncertainty and market volatility.
• Fellow Republican U.S. Senator James Lankford said companies he has talked to want the issue settled, as ongoing legal battles are destabilising investment and supply chain planning.

(Source: Reuters)

• Japanese Prime Minister Shigeru Ishiba and Indian Prime Minister Narendra Modi agreed to deepen economic and security cooperation during talks in Tokyo on Friday, as India confronts new U.S. tariffs and Japan seeks to counter China’s growing influence.
• Both leaders pledged to boost defence cooperation in the Indo-Pacific over the next decade, strengthen supply chains and investment, and expand collaboration in AI, space, high-speed rail and other technologies. They also agreed to widen skilled worker exchanges. Japan said it was targeting 10 Tn yen ($67.9Bn) of private-sector investment in India.
• Both sides emphasised their shared interest in a free and open Indo-Pacific, noting common concerns around maritime security, terrorism, and cyber threats. The partnership extends to skilled worker exchanges and expands trade and investment flows. Modi highlighted the alignment with his “Make in India” strategy, aimed at bolstering domestic industry as U.S. tariffs raise pressure on exports.
• The U.S. recently increased import levies on Indian goods to as high as 50%, including a 25% tariff linked to India’s purchases of Russian oil. The moves complicate India’s trade outlook even as it seeks closer ties with strategic partners. Modi’s visit to Japan comes ahead of his attendance at the Shanghai Cooperation Organisation summit in China, where he is set to meet President Xi Jinping and Vladimir Putin.

(Source: Reuters)