Posts

The Best Caribbean Countries to Invest In or Do Business For 2024

/0 Comments/in /by

News Americas, New York, NY, May 19, 2024: The 2024 list of the Best Countries in the World to do business, published by CEOWORLD magazine, has been released, highlighting the Top Caribbean nations for investment and business opportunities. The rankings were determined using 11 different factors, including corruption levels, freedom (personal, trade, and monetary), workforce quality, investor protection, infrastructure, taxes, quality of life, bureaucratic red tape, and technological readiness. Each factor was given equal weight in the evaluation process.

The Best Caribbean Countries For 2024 Are:

Antigua and Barbuda: Topping the list, Antigua and Barbuda is celebrated for its investor-friendly policies, strategic location, and robust tourism sector, which provides numerous business opportunities. The country’s Citizenship by Investment program also make it an attractive destination for investors.

Saint Kitts and Nevis: Known for its citizenship-by-investment program, Saint Kitts and Nevis offers a favorable business climate. The nation’s economy benefits from tourism and real estate investment with a Citizenship by Investment program, with significant potential for growth.

Grenada: Grenada’s growing economy is bolstered by tourism and agriculture. The government’s proactive stance on economic reforms and infrastructure development enhances its appeal to international investors as does its Citizenship by Investment program.

Dominica: Dominica is recognized for its natural beauty and eco-tourism potential. The country’s efforts to attract foreign investment through its citizenship-by-investment program and focus on sustainable development make it a promising destination for business ventures.

Saint Lucia: With a diversified economy that includes tourism, manufacturing, and agriculture, Saint Lucia offers a stable business environment. The government’s incentives for foreign investors and improvements in infrastructure contribute to its high ranking as does its Citizenship by Investment program.

Cuba: Despite historical challenges, Cuba is gradually opening up to foreign investment. The government has implemented reforms to attract international business, particularly in the tourism, energy, and biotechnology sectors.

Dominican Republic: As one of the largest economies in the Caribbean, the Dominican Republic offers extensive opportunities in tourism, manufacturing, and agriculture. Its strategic location and ongoing infrastructure projects enhance its investment appeal.

Trinidad and Tobago: Known for its rich natural resources, Trinidad and Tobago’s economy is driven by the energy sector. The country is also focusing on diversifying its economy, making it an attractive destination for investment in various industries.

Jamaica: Jamaica’s vibrant culture and robust tourism industry provide a solid foundation for business. The government’s commitment to improving the business climate through regulatory reforms and infrastructure development boosts its attractiveness to investors.

Guyana: Guyana is rapidly emerging as a prime investment destination, attracting attention from global investors due to its vast natural resources, strategic location, and pro-business environment. Guyana has become a major player in the global oil market following the discovery of significant offshore oil reserves. The ExxonMobil-led consortium’s successful exploration has positioned Guyana to become one of the world’s largest oil producers per capita. This oil boom is driving economic growth, creating opportunities for investment in various sectors including energy, infrastructure, and services. Despite the positive strides, businesses may still face challenges such as bureaucratic inefficiencies, limited access to finance, and infrastructural constraints in some areas. However, the government continues some reforms and development projects aimed at addressing these issues.

The Caribbean region, according to officials at Invest Caribbean, continues to present numerous opportunities for investors and entrepreneurs. With strategic locations, diverse economies, and government initiatives aimed at enhancing business climates, these nations offer promising prospects for growth and development. As the global business landscape evolves, the Caribbean’s commitment to improving infrastructure, reducing bureaucratic hurdles, and fostering innovation will likely enhance its appeal as a premier destination for investment.

Global Context
The 2024 report from CEOWORLD magazine analyzed 199 countries based on their business and investment environments. Key factors in the evaluation included the ease of doing business and the mobility of investors and skilled employees. On a global scale, Singapore was ranked as the best country in the world for investing or doing business in 2024, followed by the United Kingdom in second place, Taiwan in third, India in fourth, and Indonesia in fifth.

The detailed assessment considered each country’s regulatory environment, economic stability, and overall business climate. These rankings provide valuable insights for investors and businesses looking to expand or establish operations in the Caribbean and beyond.

Aruba Utility Celebrates Final Takeover of Fourth Wärtsilä Power Plant over 20 Year Partnership

/0 Comments/in /by

News Americas, ORANJESTAD, Aruba, Fri. May 17, 2024: Technology group Wärtsilä and Water – En Energiebedrijf Aruba N.V. (WEB) will celebrate the final takeover of Recip Phase IV, a 102 MW dual-fuel power plant on the Caribbean island of Aruba. The celebration marks the completion of four power plant projects with Wärtsilä delivered over the past 20 years. Wärtsilä supplied these plants on an Engineering, Procurement and Construction (EPC) basis. WEB’s baseload power production is based on an all-Wärtsilä generating fleet totalling 194 MW.

WEB Aruba’s Recip Phase IV Plant

In 2017, WEB began an earnest effort to diversify its fuel mix with liquefied natural gas (LNG). The Recip Phase IV power plant features six Wärtsilä 18V50DF dual-fuel engines which can operate on both liquid and gaseous fuels, allowing for the transition to cleaner fuels. Initially, the plant will operate on heavy fuel oil (HFO) and transition to LNG as it becomes available on the island. The increased efficiency and transition to LNG will reduce overall emissions from the WEB generating complex.

As WEB continues to add renewables to the island, the flexibility provided by Wärtsilä’s faststarting and stopping engines will enable optimal use of these intermittent resources while ensuring system stability. Renewables, such as wind and solar, are highly variable in their energy production. The flexibility provided by Wärtsilä engine technology will allow for increased adoption of renewables while avoiding grid instability and blackouts, renewable curtailment, and higher system costs.

WEB Aruba has selected the most efficient assets to complement renewables as WEB works to build a reliable, renewable energy future for Aruba. Wärtsilä’s engine power plants have replaced older units with more efficient and flexible generation. The fuel flexibility provided by dual-fuel engines adds resiliency to the company’s system while also allowing for the transition to cleaner fuels and lower emissions.

“We are excited to partner with utilities like WEB who are actively making the energy transition happen. As the Caribbean region works to decarbonise electricity generation, it is crucial to increase system flexibility to manage cost, maintain reliability and optimally enable renewables to perform,” said Jon Rodriguez, Director, Engine Power Plants, North America at Wärtsilä Energy.

The final takeover signing ceremony will take place at the WEB Aruba on 17 May, 2024.

© Wärtsilä Corporation

All Wärtsilä releases are available at www.wartsila.com/media/news-releases and at news.cision.com/wartsila-corporation where also the images can be downloaded. Use of the image(s) is allowed only in connection with the contents of this press release. Wärtsilä images are available at www.wartsila.com/media/image-bank.

Wärtsilä Energy in brief

Wärtsilä Energy is at the forefront of the transition towards a 100% renewable energy future. We help our customers and the power sector to accelerate their decarbonisation journeys through our market-leading technologies and power system expertise. Our solutions include flexible engine power plants, energy storage and optimisation technology, and services for the whole lifecycle of our installations. Our engines are future-proof and can run on sustainable fuels. Our track record comprises 79 GW of power plant capacity, of which 18 GW are under service agreements, and over 125 energy storage systems, in 180 countries around the world.

www.wartsila.com/energy

Wärtsilä in brief

Wärtsilä is a global leader in innovative technologies and lifecycle solutions for the marine and energy markets. We emphasise innovation in sustainable technology and services to help our customers continuously improve environmental and economic performance. Our dedicated and passionate team of 17,800 professionals in more than 280 locations in 79 countries shape the decarbonisation transformation of our industries across the globe. In 2023, Wärtsilä’s net sales totalled EUR 6.0 billion. Wärtsilä is listed on Nasdaq Helsinki.

CORE GROUP RESOURCES EXPANDS FOOTPRINT WITH NEW OPERATION IN TRINIDAD AND TOBAGO

/0 Comments/in /by

HOUSTON, May 15, 2024 /PRNewswire-HISPANIC PR WIRE/ — Core Group Resources, a leader in providing personnel to multiple industries by identifying, hiring, and growing the right talent, is pleased to announce the opening of Core Trinidad, Ltd. This strategic expansion is designed to better serve Core Group clients in the region, with a focus on serving energy, maritime, construction and related industries. The company will focus on maximizing Trinidadian content, meaning wherever possible, personnel will be local nationals supporting Trinidadian companies, contributing to a positive economic impact in Trinidad and Tobago.

“We are excited to bring our decades of local experience and hiring expertise together with our network of skilled local professionals to meet the growing needs of our customers in the region,” said Matt Fuhrman, CEO of Core Group. “Establishing local operations will not only support the Trinidadian economy but also ensure the best possible service to our clients, under the experienced direction of Dan O’Connor, and create lasting career opportunities for our candidates.”

Dan O’Connor, Vice President of Core Group Caribbean, will manage the new operation in Trinidad. O’Connor has more than 20 years’ experience in corporate operations management and has established several companies in Trinidad since 2004, bringing deep relationships and expertise to Core Group’s venture.

As part of its global expansion strategy, Core Group is bringing its proprietary placement systems, software and processes to work closely with major E&P companies, independents, service contractors and locally owned businesses in the region to provide quality personnel in technical and non-technical, high-demand roles.

In line with the company’s commitment to safety and operational excellence, Core Trinidad, Ltd., will be STOW-TT Certified (Safe TO Work in Trinidad and Tobago) for high-risk environments. For candidates and customers interested in learning more about Core Trinidad’s services, please visit https://www.coregroupresources.com/core-trinidad.

About Core Group Resources:
Core Group Resources is a dynamic company specializing in the provision of personnel via executive search, recruiting, staffing, consulting, and contracting. Dedicated to connecting passionate professionals with leading organizations, they excel in various sectors, including maritime, healthcare, technology, renewable energy and more. Their commitment to excellence and tailored services makes Core Group a trusted partner in achieving business success. For additional information, please visit www.coregroupresources.com.

About Core Trinidad, Ltd.
Core Trinidad, Ltd. was established in 2024 as a subsidiary of Core Group Resources, leveraging the parent company’s depth of expertise and ability to provide quality personnel via executive search, recruiting, staffing, consulting, and contracting. Core’s local operation serves major E&P companies, independents, service contractors and locally owned businesses in Trinidad and Tobago. For additional information, please visit: www.coregroupresources.com/core-trinidad.

The Caribbean Welcomes New Wave of Hotels: Openings and Upcoming Launches

/0 Comments/in /by

News Americas, NEW YORK, NY, Fri. May 10, 2024: With the Caribbean Tourism Organization increased international tourists arrival data so far in 2024, its no denying why more and more hotel brands are seeking to open in the Caribbean. Here are some that have opened already this year or are gearing up to open this year or early next year.

The St. Regis Cap-Cana, DR is set to open next spring. (st. Regis Cap Cana image)

Riu Palace Aquarelle

This month, May 2024, Hotel Riu Palace Aquarelle opened in Falmouth, Jamaica roughly 40 minutes from Montego Bay’s Sangster International Airport. The 753 rooms, all-inclusive resort features four outdoor pools, a children’s pool, a water park, a wellness center, and multiple dining options.

Six Senses La Sagesse

Last month, April 2024, Six Senses La Sagesse opened ahead of its May schedule in Grenada. The new wellness resort, the Six Senses La Sagesse, located along the La Sagesse beach, offers 71 suites and villas that were built using repurposed materials across its 38-acre property. The resort will supply its own food through fishing and growing local produce.

Catalonia Hotels & Resorts

Meanwhile, Catalonia Hotels & Resorts on May 7th announced its purchase of the Holiday Inn Resort, Montego Bay from East Bay Management Company Limited, led by prominent Jamaican businessman Kevin Hendrickson. As a Spanish hotel chain with over 40 years’ experience in tourism this acquisition represents a major landmark for the company, intensifying its presence in the Caribbean, and highlighting a commitment to expand into new and vibrant markets. Catalonia has outlined ambitious plans for the property as they intend to invest significantly in it within the coming months to ensure it aligns with their high standards while maintaining a strong commitment to the local community and environment.

Royalton CHIC Antigua

On April 29th, the Royalton CHIC Antigua, an adults-only all-inclusive resort located along the island’s Dickenson Bay opened its 235 rooms and suites, five bars, seven restaurants, the Royal Spa and four pools, in Antigua.

COMING UP
Hotel Indigo Grand Cayman

Hotel Indigo Grand Cayman, an IHG Hotel, will open June 1, 2024, offering a great location near Seven Mile Beach and bringing the island’s maritime focus into the luxury and pet-friendly property. The property will feature a stunning pool overlooking the ocean and accessible rooms.

The Princess Hotels & Resorts Jamaica

The Princess Hotels & Resorts Jamaica is set on 180 acres and will consist of a combination of four separate resorts, 14 over-the-water villas, and a casino on June 4th. The first phase will consist of 1,005 luxury ocean-view suites and the second phase with another 1,025 suites.

Bermudiana Beach Resort

The Bermudiana Beach Resort, Tapestry Collection by Hilton, will debut in July 2024 near Bermuda’s scenic pink sand beaches. The resort will offer 111 rooms and feature a cliff-top bar and restaurant overlooking the sea, an ocean-view pool, a beachfront accessible by elevator, a spa and yoga terrace.

Secrets St. Lucia Resort & Spa

Projected to open in August, Secrets St. Lucia Resort & Spa will be the second Unlimited Vacation Club property on the island.

St. Regis Palm Beach Aruba Resort

St. Regis Palm Beach Aruba Resort, the second St. Regis property in the Caribbean, is set to open by the end of 2024. This resort will have 220 rooms, 5-star amenities and dining, a spa, and a pool.

Marriott Miches Beach Resort

Marriott is set to open its first-ever Marriott-branded all-inclusive resort in the Dominican Republic early next year, adding the former Sunrise Miches Beach Resort to its All-Inclusive by Marriott Bonvoy portfolio, with plans to open the resort in the first quarter of 2025. The 498-room Marriott Miches Beach Resort, An All-Inclusive Resort will be set on almost 1,000 feet of beach in the increasingly hot area of Miches.

St. Regis Cap Cana

Opening next spring, also in the DR, the St. Regis Cap Cana will offer 200 rooms as well as a selection of residences for luxury travelers interested in owning a piece of paradise. Guests can enjoy a private stretch of picture-perfect beachfront as well as access to the nearby Jack Nicklaus-designed Punta Espada Golf Club. The resort also offers 24/7 concierge service, seven pools, a St. Regis spa, a kids club and a fitness and wellness center.

TerraPay and VM Money Transfer Services have Partnered to Expand the Remittance Market for Jamaicans

/0 Comments/in /by

KINGSTON, Jamaica, April 29, 2024 /PRNewswire/ — In its continued thrust to improve financial inclusion and expand remittance services to Jamaicans across the world, VM Money Transfer Services (VMTS) has entered a strategic partnership with TerraPay, a global money movement organization.

VMTS facilitates money transfer services globally to customers sending money to Jamaica from Europe, the UK, United States, Canada, the Cayman Islands and Turks and Caicos. With this new agreement, VMTS now gains access to TerraPay’s robust online platform, enabling hassle-free cross-border transfers for customers sending and receiving money across approximately 31 markets globally.

CEO of VM Money Transfer Services Limited, Michael Howard, welcomes the boost that this partnership will bring to the agency’s operations. He shared, “Purposeful partnership is an integral part of VM Money Transfer’s mission as we seek to continuously improve service delivery to our clients. We are excited about this recent collaboration as, with TerraPay’s extensive network, we have the opportunity to significantly broaden our reach and potentially tap into new markets, all while keeping our clients supported and empowered with convenient and secure channels for their money transfer needs.”

The agreement was signed between the two entities in March 2024, and Juan Luis Hernandez, TerraPay’s Senior Regional Manager for Latin America and the Caribbean, who visited Jamaica for the occasion, shares the enthusiasm. Hernandez commented, “We are delighted to partner with VM Money Transfer Services to drive innovation and efficiency in cross-border remittances. Together, we aim to provide a superior remittance experience for Jamaicans worldwide, strengthening connections with their loved ones and contributing to the economic development of Jamaica.”

Along with the expanded service through TerraPay, VMTS customers can continue to enjoy the flexibility and convenience of having their funds deposited directly to their Jamaican bank account through VMTS’ Direct to Bank Service. Clients can also collect their remittances in Jamaica from VM Money Transfer’s over 70 sub-agents, 8 VM Money Express locations and 16 VM Building Society branches Islandwide.

For queries, please reach out to Juveria Samrin at ju*******@te******.com

About TerraPay:

TerraPay simplifies global money movement – by providing a single connection to the most expansive cross-border payments network regulated in 31 global markets and enabling payments to 144 receive countries, 210+ send countries, 7.5Bn+ bank accounts and 2.1Bn+ mobile wallets. TerraPay is on a mission to connect a borderless financial world, making moving money everywhere instant, reliable, transparent and fully compliant. TerraPay pushes the boundaries for global businesses – ranging from banks, fintechs and money-transfer operators to travel businesses, creator economy platforms and e-commerce marketplaces – while driving financial inclusion in even the most inaccessible markets. Founded in 2014, TerraPay is headquartered in London, with global offices in Bangalore, Dubai, Miami, Bogota, Dar es Salaam, Kampala, Hague, Dakar, Joburg, Nairobi, Milan, Singapore and is expanding rapidly, having received funding from leading investors, including the IFC (the World Bank), Prime Ventures, Partech Africa and Visa. 

Jamaican Chef’s Eatery Named Among Top Fried Chicken Spots in America

/0 Comments/in /by

News Americas, NEW YORK, NY, Thurs. April 25, 2024: Jamaican-born Chef Nicola Blaque’s culinary prowess has once again captured national attention as her acclaimed San Antonio restaurant, The Jerk Shack, secured a spot in Eat This, Not That’s esteemed list of the best fried chicken restaurants in America, ranking fourth.

Jamaican Chef Nicola of texas (Photo by Rick Kern/Getty Images)

This latest accolade follows the eatery’s recent feature on a popular episode of the Food Network series, Diners, Drive-Ins, and Dives.

Taking to Instagram to share the exciting news, The Jerk Shack humbly expressed gratitude for the recognition, emphasizing their initial aim to simply share Caribbean heritage through culinary artistry and foster community connections. “Who would’ve thought our little Caribbean restaurant would be recognized on two national platforms for best fried chicken in America?” remarked Chef Blaque.

Highlighting Chef Nicola’s dedication to inclusivity and accessibility, the restaurant’s owners shared insights into her culinary philosophy, emphasizing her mission to make Caribbean cuisine accessible to people from diverse backgrounds. The addition of fried chicken to the menu in 2022 further expanded their reach, reflecting Chef Nicola’s commitment to serving the local community.

Chef Nicola Blaque’s culinary achievements extend beyond The Jerk Shack, earning her recognition as a best restaurateur on the StarChefs rising star list for Austin-San Antonio. Moreover, her culinary empire expanded with the launch of Freight Fried Chicken in 2023, a venture rooted in homage to the resilience of southern Black women in post-Civil War America, who sold fried chicken to railroad passengers to sustain themselves.

With a steadfast commitment to preserving culture and history, Chef Nicola continues to inspire through her culinary creations, inviting patrons to savor not just delicious meals, but also the rich narratives embedded within them. Born and raised in Jamaica until she was five years old, Chef Blaque is passionate about introducing people to the flavors of the Caribbean.

For those eager to indulge in The Jerk Shack’s acclaimed fare, visit their locations at 10234 TX-151, Suite 103, San Antonio, TX 78251, and 312 Pearl Pkwy., Building 6, San Antonio, TX 78215.

CardnPay and Turks and Caicos Banking Company launch Mastercard Black and Platinum Debit Cards in the Turks and Caicos Islands

/0 Comments/in /by

News Americas, COCKBURN TOWN, Turks and Caicos, April 23, 2024: We are pleased to announce that CardnPay newest affiliate, Turks and Caicos Banking Company (TCBC), will be issuing new international Mastercard Black and Platinum debit cards starting in April 2024.

The Mastercard Black and Platinum Debit Cards represent the pinnacle of sophistication and functionality, designed to cater to the discerning needs of individuals seeking superior payment experiences. With their sleek designs and advanced security features, these cards epitomize excellence in banking and elevate the standard of financial services in the region.

“We are thrilled to collaborate with TCBC in bringing the Mastercard Black and Platinum Debit Cards to the Turks and Caicos Islands,” said Mr. Barry Walsh, President of CardnPay Limited. “This partnership allows us to combine our expertise in payment processing with TCBC’s commitment to innovation, delivering unmatched value and convenience”.

“Turks and Caicos Banking Company is excited to launch Mastercard Black and Platinum Debit Card in partnership with CardnPay Limited”, said Mr. David Bee, Chief Executive Officer at TCBC. “This collaboration allows us to leverage our expertise in financial services and CardnPay’s cutting-edge payment processing technology to offer a truly elite banking experience.”

TCBC (www.turksandcaicos-banking.com) is a private Bank focused on efficient and convenient customer service. Established in 1980, Turks & Caicos Banking Company has been evolving alongside the Turks and Caicos Islands.

CardnPay Ltd. (www.cardnpay.com) is a wholly owned subsidiary of Bevertec CST Inc. and a Mastercard principal member. The company offers a Mastercard Affiliate Program to financial service providers in the Caribbean. The program comprises Mastercard licensing, card issuing, ATM acquiring, 3D Secure, Tokenization, payment processing and other value-added services on a subscription basis. For more information please contact:

Nathaly Gutierrez
Business Development Manager
ng********@ca******.com  
Canada: Office : +1 416 695 7525 x2268

BC.GAME Secures New Curacao LOK License, Enhancing Legal Compliance and Global Reach

/0 Comments/in /by

WILLEMSTAD, Curacao, April 22, 2024 /PRNewswire-HISPANIC PR WIRE/ — In an important development for the gambling industry, BC.GAME® is thrilled to announce the acquisition of a new gaming license, fully compliant with the cutting-edge Curacao’s National Ordinance for Games of Chance (LOK) regulatory framework. This achievement reaffirms BC.GAME’s unwavering commitment to providing a secure and legally compliant gambling environment for its global user base.

Jack Dorsey, the CEO of BC.GAME, said: “We are immensely grateful for Curacao’s robust regulatory framework, which has been pivotal in the gambling industry. Obtaining this license is a vital milestone in BC.GAME’s ongoing development and our commitment to providing a trustworthy and secure gambling experience.”

The introduction of the LOK legislation, designed to replace the previous National Ordinance on Offshore Games of Hazard (NOOGH) framework, has set a new precedent in the gambling license domain. Under the NOOGH regime, BC.GAME operated under a sub-license issued by Curacao Interactive Licensing NV (CIL). The new LOK framework, however, brings about significant changes, including the discontinuation of new sub-license issuance and stringent requirements for existing licensees seeking renewal.

Curacao was one of the pioneering nations in establishing regulations for gaming activities. Consequently, this small Caribbean island nation has become a hub for gaming businesses worldwide aiming to adhere to the country’s comprehensive gaming legal framework. BC.GAME has set up a local office to ensure compliance with regulations and to offer support to fulfill the requirements of the local gaming ecosystem.

Acquisition of the license, specifically designed for LOK services, coincides with BC.GAME’s efforts to enhance user trust, forge new partnerships, and broaden the accessibility of its comprehensive gaming services. Obtaining licenses and ensuring compliance are crucial steps in solidifying BC.GAME’s position as a dependable and well-regulated global online gaming platform.

Through this new license, BC.Game has seven years of experience in the online gaming sector, creating various popular and original games. “Curacao is an essential first step in our broader global strategy. As we continue to accelerate our expansion, expect more exciting developments and good news in the near future.” said Jack Dorsey.

About BC.GAME

BC.GAME is an innovative online casino platform continually redefining industry standards. Committed to providing innovative solutions, BC.GAME creates a secure, fair, and professional service environment. Utilizing cutting-edge blockchain technology, BC.GAME ensures the highest standards of security and fairness for its users.

British Caribbean Bank selects Finastra to transform its core technology

/0 Comments/in /by

LAKE MARY, Fla., April 22, 2024 /PRNewswire/ — Finastra, a global provider of financial software applications and marketplaces, announces that British Caribbean Bank Limited (BCB), a Turks and Caicos-based financial institution offering international bank accounts and customized loan options, has selected Finastra Essence, deployed on Microsoft Azure cloud, to modernize its core and transform its back-office operations. The move enables increased readiness for regulatory changes and positions the bank for continued growth.   

BCB’s selection of Essence provides the bank with the modern capabilities, open APIs, and cloud functionality needed to better compete in the market and simplify payment regulatory changes in Turks and Caicos. The core solution’s agile, cloud-based technology, combined with Finastra’s broad and deep banking functionality, makes it simple and streamlined for BCB to adapt quickly and efficiently, while also enabling increased connectivity to third-party partners for an enhanced customer experience.  

 “To transform our core and enhance our operations, we needed an innovative partner to provide the expertise and tech stack required to complete our modernization journey,” said Marcus Samuel, Managing Director at British Caribbean Bank Limited. “Finastra Essence helps us go above and beyond by positioning our team to deliver both an enhanced customer experience and innovative products, all while being agile and quick to market as we grow.”

The move delivers new efficiencies for BCB. By modernizing its core, the bank can now benefit from a simplified back-office, reducing costs and increasing productivity for its team.

Essence, a cloud-first, next-generation banking solution that combines sophisticated functionality and advanced technology to increase enterprise agility, is seeing increased presence in the Caribbean. Its deep retail and commercial banking functionality enable financial institutions around the world to quickly adapt to local needs while rapidly deploying market-leading products and services.

“Finastra is pleased to see Essence growing in the Caribbean and across the Americas, as more financial institutions are seeking core solutions that support digital transformation through increased agility, the cloud, and connectivity to the financial ecosystem,” said Siobhan Byron, EVP, Universal Banking at Finastra. “Our continued and enhanced partnership with BCB and its affiliates provides the bank with the resources and support it needs to grow, thrive, and adapt to an ever-evolving financial services landscape.”

About Finastra
Finastra is a global provider of financial software applications and marketplaces, and launched the leading open platform for innovation, FusionFabric.cloud, in 2017. It serves institutions of all sizes, providing award-winning software solutions and services across Lending, Payments, Treasury & Capital Markets and Universal Banking (Retail, Digital and Commercial Banking) for banks to support direct banking relationships and grow through indirect channels, such as embedded finance and Banking as a Service. Its pioneering approach and commitment to open finance and collaboration is why it is trusted by over 8,000 institutions, including 45 of the world’s top 50 banks. For more information, visit finastra.com

North American headquarters
744 Primera Boulevard
Suite 2000
Lake Mary, FL 32746

This 86-Year-Old-Caribbean Immigrant Entrepreneur Is Still Working

/0 Comments/in /by

News Americas, NEW YORK, NY, Tues. April 16, 2024: “Music is my life and I still have to keep the momentum going from the past sixty years. I love to communicate and unite people. Doing nothing is not my goal.”

Miss Pat with husband and VP Records co-founder, the late Vincent Chin. (Photo courtesy of Patricia Chin archives.)

So says 86-year-old entrepreneur and co-founder of VP Records, Patricia ‘Miss Pat’ Chin, as she and her team prepare for International Record Store Day 2024 which will be observed this Saturday, April 20th across the United States, Europe and parts of Asia.

86-year-old entrepreneur and co-founder of VP Records, Patricia ‘Miss Pat’ Chin (Photo courtesy of  Alessandro Simonetti.)

International Record Store Day originated in the United States in 2007 and is celebrated in countries including the United Kingdom, France, Germany, Italy, Canada and Japan. The day brings together fans, artists and thousands of record stores globally in celebrating the culture of independently owned record stores and the vinyl record culture that has brought these stores into a new era of relevance. The organization Record Store Day provides promotions, marketing and other opportunities for stores throughout the year, maintaining a website, social media and other means of sharing its views about the value of independent record stores. A highlight of the day is the issuing of special vinyl releases along with other promotional offerings to mark the occasion, and which are only available at participating stores. 

Miss Pat with Grammy Award winner Shaggy. (Photo courtesy of Patricia Chin archives)

Miss Pat is eagerly anticipating VP Records’ annual Record Store Day celebration, which will take place this Saturday from noon to 6 p.m. at their flagship store in Jamaica Queens and at  their retail store in Miramar Florida. Special guest for the day at the Jamaica Queens event will be VP recording artiste Romain Virgo.

According to Miss Pat “It will be a celebration of Romain’s new  album release, The Gentle Man, and also the work that he has done over the years. We want to honor his accomplishments from his Rising Stars days up till now. He will be present to do a meet and greet, take photos with his fans and sign copies of the album. It promises to be a fun day and will shine a light on the sound system and vinyl culture, showing everyone that our music is alive and well, even with all the stages that we have passed through.”

At an age when many of her peers are enjoying retirement and slowing down, the tireless Miss Pat smilingly asserts that none of that is on her agenda.

“I’m not retired,” she laughs. “I don’t think of myself as retired at all. I still have work to do and I still have my ears to the streets. I’ve been through it all- from mento, ska, to rocksteady, reggae, dancehall and dub and I’ve never lost track of the different trends in the music. My plan is to keep going and to keep preserving our musical legacy for as long as I can.”

Miss Pat and her late husband Vincent Chin together founded VP Records -the label name paying homage to their initials, V and P- in New York in 1979. They had immigrated to the USA from Jamaica having run a small record store, Randy’s Record Mart, and a recording studio, Studio 17, for some 20 years in downtown Kingston. From a tiny retail outlet on Jamaica Avenue in Queens, VP Records has grown to become the largest independent reggae label and distributor of Caribbean music in the world.

She believes that entrepreneurship was in her DNA, as she started her own business during childhood while growing up in Kingston as the eldest of three children born to her Chinese mother and Indian father. While at Alpha Girls School, she asked her father to buy her some rubber bands and marbles- popular novelty items amongst her schoolmates at the time- and, exhibiting her enterprising entrepreneurial  spirit, she sold them at lunchtime.

“Looking back,” says Miss Pat today, “Maybe that’s how my business sense began to develop.”

That business sense would stand her in excellent stead as she entered the predominantly male dominated world of Jamaican popular music later on.

“Back then in Jamaica, I didn’t even realize I was doing a man’s job. I was just doing a job to survive and create a business. I didn’t feel like it was a man’s job. My biggest survival skill was that I respect people, and they respect me. It was strictly business. I wasn’t afraid to approach people, and I learned these skills from my parents, who taught us to look after the community.”

Arriving and then working in the United States however, was another matter entirely.

“ My role at VP for the first ten years was what we would now call telemarketing- handling orders by phone with my son Chris,” she recalls. “It was mostly men who would buy records in those days and when they called and heard my voice they  would ask, “Can you put on a man (on the phone) to take the order?” And I would reply, “Why do you need a man?” They thought I wasn’t well versed in the music or educated in it. But I had spent so much time in the music industry- including twenty years running the counter at Randy’s back in Jamaica- that I was more than familiar. But being a woman, I had to work harder. I didn’t go to the dances. I had to study.  I had to ask a lot of questions, because I had to retain a lot of information.”

Her perseverance was instrumental to the eventual success of VP Records, which proudly boasts a roster of present and past artistes that includes many of the most popular reggae and dancehall stars of all time including Beres Hammond, Shaggy, Beenie Man, Sean Paul, Spice, Lady Saw, Morgan Heritage and Tanya Stephens. Many of them have become her close friends.

 Having survived and thrived amidst those early professional challenges- as well as overcoming several personal tragedies including the loss of her husband Vincent, two sons and a grandson- Miss Pat continues to persevere, determined to make a difference.

“This is why I do not even think of myself as retiring,” she says, “Because there is so much more to do. I do a lot of work with the VP Foundation which we created to give back by assisting in the development of young musicians, artistes and the culture. Once a year, we go to Jamaica to support our various charities including  the Alpha Boys School.  I also find a way to share my story to inspire others by doing events and festivals.”

In 2006, the government of Jamaica awarded her the prestigious Order of Distinction (OD) in recognition of her contribution to Jamaican music and culture and in 2021 she published her memoirs, Miss Pat- My Reggae Music Journey, to great acclaim. The book chronicles her entire life from early childhood in Kingston to becoming co-founder of her multi Grammy Award winning record label and international brand. She is also the first woman to have received the American Association of Independent Music Lifetime Achievement Award.

“I’d like to think that I serve as an example to anybody out there who had a dream and who continues to be inspired to keep busy at any age, as long as you are able. This is why our celebration of Romain Virgo this Saturday is so important to me. He is very talented and represents the future. And the VP legacy that I helped to build will live on in artists like him.  So I plan  to enjoy staying active and doing what I love, which is to support him and the next generation as they take our music forward.”

VP Records is located at 170 -19 Jamaica Avenue, Queens NY, 11432 and at 6022 SW 21st Street  in Miramar Florida, 33023.

Record Day is free and open to the public.