Business

Caribbean Wines & Spirits featured its new Monument Beverage Co. line at the Paradise Plates fundraiser in Nassau. The Bahamian-made drink brand made its debut at the event, successfully serving its entire inventory to attendees who sampled three distinct flavors of the ready-to-drink product during the evening. Launched in July 2026, the beverage is available across six major islands. Guests at the Hands for Hunger event interacted with brand ambassadors while viewing packaging that highlights various national landmarks, marking a successful introduction for the locally owned product.

Barbados Prime Minister Mia Mottley urged Caribbean nations to pursue multi-billion dollar projects rather than small-scale ventures to achieve economic growth. Addressing 500 delegates at the opening of the Caribbean Investment Forum on October 13, 2026, she argued the region must abandon its comfort with minor projects to transform sectors like renewable energy and artificial intelligence. Mottley stated that investments of US$20 million or US$30 million are insufficient for real transformation. She emphasized that governments providing substantial tax incentives must ensure those businesses support other local sectors rather than operating in isolation. "Without scale, there is no transformation," Mottley noted, highlighting that Barbados provides more than BDS$850 million annually in tax incentives, yet the region lacks sufficient ongoing training. She also criticized the tendency to ignore trade agreements with Central and Latin America in favor of familiar North Atlantic markets. The three-day forum focuses on at least 30 bankable investment opportunities for potential backers. Mottley warned that businesses attempting to recover post-pandemic losses through unsustainable pricing will likely face failure. She challenged attendees to view the Caribbean as a "joined-up equation," encouraging regional industries to utilize technology and trade platforms to market services globally.

A proposed nationwide class action lawsuit filed in Chicago federal court on October 9, 2026, accuses McDonald’s of illegally coordinating menu prices across its restaurants. The litigation claims the fast-food company uses AI-powered algorithms to fix prices, potentially impacting millions of customers across the United States. The complaint alleges McDonald’s conspired with independent franchisees to set prices using nonpublic transaction data from nearly 14,000 locations. McDonald’s rejected the claims on October 12, 2026, stating that "AI does not set the price of a Big Mac or any other menu item." The company maintains that franchisees make their own pricing decisions using standard analytics. This lawsuit joins similar antitrust actions filed in recent years regarding the use of algorithms to coordinate prices for various consumer goods.

On October 9, 2026, Amazon Web Services announced a $1 billion investment to be distributed over the next five years across United States communities hosting its data centers. The initiative aims to address local concerns regarding electricity and water usage while supporting education, job training, and energy affordability programs. The company faces political pressure ahead of the November 3 midterm elections, with over 100 data center moratoriums currently under consideration nationwide. Amazon Web Services Chief Executive Officer Matt Garman noted the urgency of this development to secure national security and economic benefits. The firm also committed to becoming water positive across its facilities by 2030, reporting it is currently 75 percent of the way toward that goal.

Consumers filed a class-action lawsuit against Starbucks in Seattle federal court on October 9, 2026, alleging false advertising. The complaint claims the coffee chain wrongly marketed eight protein beverages as "sugar-free," despite the drinks containing significant amounts of sugar from naturally occurring lactose. The lawsuit asserts that "venti" servings contain 13 to 21 grams of sugar, exceeding federal limits for "sugar-free" labeling. Plaintiffs argue Starbucks misled customers seeking to reduce sugar intake. A company spokesperson stated the claims have no merit, adding that "we intend to vigorously defend ourselves." Starbucks launched the product line in September 2025 as part of an updated menu, and the lawsuit seeks unspecified damages for violations of consumer protection laws.

Schweppes and Nemiroff Vodka partnered to serve handcrafted cocktails at the recent Paradise Plates fundraiser held at the Atlantis Imperial Ballroom. The event, which featured a 1970s disco theme, showcased the premium drink collaboration to support the Hands for Hunger mission. Caribbean Wines and Spirits, the local distributor for Nemiroff, is extending the event's success by offering promotional specials for the remainder of October 2026. Customers who purchase any 1-liter bottle of Nemiroff vodka at local liquor stores will receive a complimentary three-pack of Schweppes mixers. According to Cara Douglas-Adderley, Senior Marketing Director for Caribbean Bottling Company, the promotion aims to bring the event’s premium cocktail experience into consumers' homes.

In October 2026, CPA and commentator Drexwell Seymour praised fellow Turks and Caicos Islander Trevor Musgrove for the successful opening of his latest venture, The Retreat, a 24-room hotel in Providenciales. This development serves as a significant milestone, illustrating that local investors can overcome obstacles to become major developers within the country. Seymour notes that Trevor Musgrove’s success adds to his existing track record of local expansion. While acknowledging that access to capital remains a primary hurdle, the author argues that local entrepreneurs are already making meaningful economic contributions. Seymour suggests residents move beyond individual efforts and consider pooling resources to secure financing. He writes, "We need more partnerships, collaboration and willingness to invest in one another." This approach requires trust and accountability but could unlock opportunities that currently feel out of reach for many aspiring developers. The author hopes this project inspires a wave of local participation in tourism and real estate. By demonstrating that one can start small and reinvest, Musgrove has provided a roadmap for others. Seymour urges residents to stop observing and instead take the calculated risks necessary to own their future. He concludes that Musgrove is not only building properties but helping to build confidence among Turks and Caicos Islanders that they can successfully own and invest in their own nation, following this example set in Providenciales.

Grace Bay Resorts earned major international recognition in October 2026, securing multiple awards for its properties in the Turks and Caicos Islands. Grace Bay Club achieved a second consecutive MICHELIN Key, while the Rock House resort received its first MICHELIN Key, alongside honors from the Condé Nast Traveler 2026 Readers’ Choice Awards. Grace Bay Club was ranked #13 among the best resorts in the Atlantic Islands by Condé Nast Traveler readers. The MICHELIN Key awards recognize hotels for excellence in service, architecture, design, and connection to their surroundings. Emma Wilks, Vice President, Head of Marketing, Communications & Digital, stated that these recognitions reflect the passion, care and dedication of the teams behind the properties. These accolades contribute to the growing international profile of the destination. Separate rankings released in 2026 identified the Turks and Caicos Islands as the #6 Best Island in the Caribbean and Atlantic by Condé Nast Traveller UK, while Grace Bay Beach was named the #5 Best Beach in the World by Condé Nast Traveler US.

BermudAir is introducing a new nonstop flight service connecting Fort Lauderdale to Providenciales in the Turks and Caicos Islands. This route, which launches on October 26, 2026, provides travelers with an additional direct link between South Florida and the destination, utilizing Embraer E190 aircraft for the journey. The service features a two-class cabin configuration designed to eliminate middle seats, ensuring every passenger has access to either a window or an aisle. Flights are scheduled to operate on Mondays, Wednesdays, and Fridays, departing Fort Lauderdale at 5:40 p.m. and arriving in Providenciales at 7:25 p.m. Passengers will receive complimentary snacks and beverages, alongside extra legroom, throughout the one hour and 45 minute flight time. The airline suggests that travelers review specific flight dates and times through its booking system, noting that the timetable includes variations throughout November and December. This route serves as a precursor to a broader expansion of the airline's network, which includes planned service to Providenciales from Newark, Boston, Baltimore-Washington, Raleigh-Durham, St. Petersburg/Tampa, and Toronto. The airline is also preparing a separate connection linking Newark directly to South Caicos. Travelers looking to book travel should consult the airline's official schedule, as the winter season rollout will introduce further connectivity options for visitors planning trips to the islands later in the year.

Beaches Turks & Caicos Resort is reinforcing its year-round support for local craft vendors and transport operators in the Turks and Caicos Islands to sustain their livelihoods during off-peak tourism seasons. This initiative, highlighted on October 8, 2026, focuses on ensuring economic stability for small businesses through Beaches Turks & Caicos Resort and dedicated training programs. The resort partners with the Sandals Foundation and the Sandals Corporate University to provide workshops on customer service and digital marketing, enabling artisans to maximize sales at the Cultural Marketplace. Meanwhile, transport operators receive reliable business and sponsorship for community events. Taxi driver Loftan Ellis described the resort’s consistent backing as "magical" for helping drivers maintain income. General Manager Deryk Meany stated that the resort's expansion is intended to create opportunities for local residents, framing this outreach as a core component of the property's corporate social responsibility mission. By maintaining training, market access, and sponsorship across the calendar, the resort aims to build resilience in a sector vulnerable to seasonality. For local participants, this ongoing engagement provides a structured pathway to professionalize services through the Sandals Corporate University. These efforts are designed to contribute to a more diversified and sustainable local tourism economy, ensuring that small operators can remain active participants in the destination’s tourism value chain throughout the year.

Invest TCI reported a historic surge in entrepreneurship during its fifth Annual General Meeting on September 15. The agency received 140 applications for its MSME programme during the 2025/26 period, marking the highest volume in the programme’s decade-long history as more Turks and Caicos Islanders seek to own local businesses. During the meeting held at The Ritz-Carlton, Turks and Caicos, officials detailed the agency’s support for local enterprises. Invest TCI approved $900,000 in cash grants and 53 concession orders, while counselling 214 businesses. CEO Angela Musgrove noted the agency now manages a portfolio of over 300 businesses. Premier Charles Washington Misick emphasized that the goal is ensuring residents advance alongside the nation’s massive $6.335 billion investment pipeline, rather than measuring progress solely by incoming capital. To convert this interest into long-term success, the agency is refining its internal operations. Future efforts will focus on enhanced client follow-up and improved business-readiness checks to help entrepreneurs build sustainable, revenue-generating companies. These systemic changes aim to ensure that small businesses not only receive initial support but remain operational and fully integrated into the broader economy.