分类： Business

The Eastern Caribbean Central Bank (ECCB) is taking a major step toward gaining the power to regulate fees imposed by commercial banks within the region.

A harmonised banking amendment bill—central to the effort—has now been passed in both Antigua and Barbuda and St Vincent and the Grenadines.

Governor Timothy Antoine confirmed that the next phase will involve setting up an Office of Financial Conduct and Inclusion. This new body will focus on strengthening consumer protection and ensuring fair practices in the banking sector.

Amendments to the Banking Act are also underway in other member states. Once adopted, these changes would give the ECCB authority not only to approve or reject bank fees but also to handle consumer complaints regarding specific financial transactions.

Officials believe the reforms will promote greater transparency and accountability within the region’s financial system, helping to build public trust.

The ECCB continues to work closely with its member countries to implement the new measures, which are expected to bring long-term benefits for consumers across the Eastern Caribbean.

ACB Caribbean has issued an apology to its customers for the ongoing disruptions in ATM services and announced extended banking hours in Antigua to mitigate the inconvenience caused.

In a statement, the bank acknowledged the challenges faced by customers and expressed regret for the level of downtime experienced. “The level of downtime you’ve encountered is not acceptable, and we take full responsibility,” the statement read.

To address the issue, ACB Caribbean has invested in a new fleet of Smart ATMs, which are currently undergoing final testing in Antigua & Barbuda. The bank attributed the delay in deployment to technical and logistical factors but assured customers that the upgraded machines would be rolled out as quickly and safely as possible.

In the meantime, the bank has implemented temporary measures to ensure continued access to cash and banking services. These measures include extended opening hours at all branches in Antigua, with branches now closing at 3:00 PM from Monday to Friday. Additionally, Saturday banking services will be available at the Village Walk branch starting July 12, 2025, from 9:00 AM to 12:00 noon for teller transactions only.

“We understand your frustration and appreciate your patience as we work diligently to improve your banking experience,” the statement continued. “Our team is fully committed to restoring the reliability you expect and deserve.”

The bank thanked its customers for their continued support and assured them of its commitment to resolving the issues promptly.

The Prices and Consumer Affairs Division is advising the public that Ford is recalling more than 850,000 vehicles due to low-pressure fuel pumps, which could fail and lead to an engine stall while driving.

The U.S. National Highway Traffic Safety Administration (NHTSA) warned that the fuel pumps of certain Ford and Lincoln vehicles “increases the risk of a crash” and that a remedy is under development.

The recall affects vehicles of the following models:

∙ 2021-2023 Ford Bronco

∙ 2022 Ford Expedition

∙ 2021-2023Ford Explorer

∙ 2021-2022 Ford F-150

∙ 2021-2023 Ford F-250 SD

∙ 2021-2023 Ford F-350 SD

∙ 2021-2023 Ford F-450 SD

∙ 2021-2023 Ford F-550 SD

∙ 2021-2022 Ford Mustang

∙ 2021-2023 Lincoln Aviator

∙ Lincoln Navigator

Ford said fuel pump failure is “more likely to occur” under warm weather and hot fuel conditions. Warning signs of an impending pump failure include a reduction in engine power and poor engine performance.

To check if a vehicle is affected by the recall, owners can visit Ford’s online support service at https://www.ford.com/support/recalls-details/.

Consumers may also contact the Prices and Consumer Affairs Division at 462-4347, via email at consumeraffairs@ab.gov.ag, or visit our website at consumeraffairs.gov.ag for additional information or assistance.

LIAT 2020 marked a major milestone today with the launch of its first flight to Montego Bay, Jamaica, expanding its regional network and reinforcing its commitment to Caribbean connectivity.

The flight landed at Sangster International Airport—Jamaica’s second-largest international gateway—signalling LIAT’s return to intra-island services after a five-year hiatus.

Antigua and Barbuda Tourism Authority CEO Colin James, LIAT staff, and other invited guests joined passengers on the near full flight, which was met with celebration and optimism on arrival.

LIAT 2020 officials say the new route is part of the airline’s strategic push to meet growing travel demand across the region. It currently also serves Kingston’s Norman Manley International Airport.

The move is seen as a boost to tourism and economic development, offering more travel options and supporting regional unity.

The airline encouraged stakeholders and passengers to follow its renewed journey, as it aims to deliver more reliable service and strengthen ties across the Caribbean.

Advancing the Caribbean’s digital agenda will come into sharp focus as Liberty Caribbean returns as the headline sponsor for CANTO’s 40th Annual Conference and Trade Exhibition under the banner ‘Towards a Unified and Sustainable Caribbean Gigabit Society’.

The region’s premier telecom conference, taking place at the Grand Hyatt Baha Mar in Nassau, The Bahamas between July 13 and 16, brings together heads of state and government, along with regulators, telecom operators, and other key industry stakeholders to network, build alliances, review policy, and share best practices as it relates to the regional telecoms sector.

“We are incredibly proud to once again serve as headline sponsor of this milestone event. Our longstanding partnership with CANTO reflects our shared belief in the power of collaboration to move the region forward. This is our moment to shape a digital Caribbean that reflects our values, meets our needs, and embraces our full potential. The work we do here will echo far beyond these halls,” said Inge Smidts, Chief Executive Officer, Liberty Caribbean.

“This year’s theme strikes at the very heart of what we do at Liberty Caribbean. As one of the region’s leading enablers of digital connectivity, we are deeply invested in building the networks, systems, and partnerships that will deliver a gigabit-ready Caribbean — one that is fast, fair, and future-ready.”

Smidts will deliver remarks at the opening ceremony on Sunday, and she will be joined onstage by The Honourable Philip Davis, Prime Minister of The Bahamas; Dr. Delreo Newman, Chairman of CANTO; Teresa Wankin, Secretary General of CANTO; Doreen Bogdan-Martin, Secretary‑General, International Telecommunication Union; and Brendan Carr, Chairman, Federal Communications Commission.

Liberty Caribbean will host several discussions and events during the conference to shine the spotlight on important industry topics including digital sustainability, cybersecurity and the rise of AI, sustainable infrastructure development, strategies for equitable access to broadband services, and empowering an inclusive digital economy.

Featured company speakers include Neda Brown, Senior Director, Regulatory & Government Affairs; Sameer Bhatti, CEO, BTC; Aamir Hussain, SVP, Chief Technology and Product Officer, Liberty Latin America; Shelton Flash, Director, Liberty Business (North Caribbean); Desron Bynoe, VP & General Manager, Barbados; Felipe Ruiz, VP, Information Security, Liberty Latin America; Stephen Price, VP & General Manager, Jamaica; Rhys Campbell, Director, Liberty Caribbean Charitable Foundation; Carol Robertson, Senior Business Development Partner, Liberty Caribbean; and Darron Turnquest, Director, People, Liberty Caribbean.

“CANTO has been the driving force behind the Caribbean’s digital evolution, a trusted platform for dialogue, collaboration, and collective progress,” added Smidts.

“Today, we stand not just to commemorate the past, but to step boldly into a future where high‑speed connectivity is universal, innovation and inclusion move in lockstep, and technology fuels sustainability, economic resilience, and social equity across every island.”

CANTO is a non-profit association made up of operators, organisations, companies, and individuals primarily focused on leading the information and communications technology (ICT) sector across the Caribbean region and the Americas.

In Aviation, logistics matter, and Antigua is by far the easiest location in the Caribbean chain of islands, for regional distribution of Cargo arriving by air and sea, to most of the small developing states.

Recently Antigua’s PM opined about acquiring an aircraft specifically for Cargo, and large enough to move goods across the Atlantic, connecting Africa to our region. Clearly the thought has progressed during the Heads of Government Meeting in Jamaica, to an increasingly progressive move to adopt as a Caricom proposal.

Before we find ourselves in another unplanned fiasco, our experts in Aviation and Commerce should be involved to advise the Governments.

Antigua currently hosts the world’s largest lease operator of Embraer (Brazilian) aircraft, and its Maintenance facility, the two most important and key components necessary to lift off an operation as envisaged. Further, leased aircraft is the new way of airline start-ups, especially in the developing world and small nation states like ours.

Rather than boast ownership of one or two aircraft with the humongous debt burden and increasing maintenance costs, engaging with a leased aircraft and maintenance contract is clearly the way to go.

Whereas the original plan re LIAT/Air Peace was designed for passenger movements, it makes sense to combine the Cargo component, and seek to establish Antigua as the Cargo distribution for both Air & Sea Cargo, thereby cutting costs to the smaller islands, increasing connectivity and lessening delivery delays.

But will our intellectually profound deliberations in Jamaica translate into action? Or will we be forced to wait and see some non-Caribbean/African mover & shaker move in with connections to replace national ownership, as happens when we wait too long?

The Board of Directors of SINOVAC Biotech Ltd. (NASDAQ: SVA) (“SINOVAC” or the “Company”), a leading provider of biopharmaceutical products in China, today announced that the Special Meeting of Shareholders (the “Special Meeting”) held on Wednesday, July 9, 2025 at 8:00 a.m. China Standard Time (Tuesday, July 8, 2025 at 8:00 p.m. Atlantic Standard Time) has been adjourned, pending resolution of litigation in Antigua related to the validity of shares issued following an invalid private investment in public equity (“PIPE”) to Advantech/Prime and Vivo Capital (together known as the “Dissenting Investor Group”).

The PIPE transaction was authorized by the former board, deemed an “Imposter Board” by the UK Privy Council in an unappealable ruling in January 2025. Given the ongoing litigation and provisional nature of the Court of Appeal’s decision to stay the prohibition of Vivo Capital and Advantech/Prime from voting the disputed shares, the Special Meeting was adjourned until the appropriate court can make a final and non-appealable decision regarding the validity of the PIPE shares and if they can be voted at a meeting of the Company.

On July 7, 2025, the Eastern Caribbean Supreme Court of Antigua and Barbuda (the “Antigua Court”) granted an interim injunction prohibiting the holders of the PIPE shares from voting those shares at the Special Meeting, pending the Antigua Court’s determination of its jurisdiction and the validity of those shares.

In his decision, presiding Justice Tunde Ademola Bakre determined there were serious issues presented to the Court. He stated that the issue of whether the PIPE shares were properly allotted, or not, would need to be carefully evaluated. The Judge determined that a refusal of the injunction would cause an irredeemable loss, while the grant of the application may only cause a temporary setback for Prime/Advantech and Vivo Capital if eventually their shares are adjudged to have been properly issued.

Advantech/Prime immediately filed an appeal with the Eastern Caribbean Court of Appeal seeking a temporary stay of the injunction order pending a hearing of their stay application. The Court of Appeal temporarily stayed the injunction order. SINOVAC has not yet had the opportunity to respond.

Additionally, today, Justice Bakre dismissed an application by Vivo Capital for a stay of the injunction order, which was argued by lawyers for each of Vivo Capital, Advantech/Prime, and the Company before the High Court of Antigua.

The Board has a fiduciary duty to respond to all legal proceedings on behalf of SINOVAC, as well as implement the Privy Council’s judgment and order.

In the meantime, the Board continues to govern the Company and remains committed to its mission of restoring fairness, delivering value and protecting the rights of all valid shareholders. The Board will continue to prioritize dividend distributions according to its previously announced policy, work with NASDAQ to resume trading, and explore a future listing on the Stock Exchange of Hong Kong to promote liquidity and maximize value creation. The Board deeply appreciates the overwhelming support received from shareholders throughout this process.