A roundup of the latest ICT/technology news from across the Caribbean region for the period Monday 8 January to Sunday 14 January 2024.
Monday, 8 January 2024
FTX real estate sell-off can’t cover $256m debt
Bahamas – The sell-off of FTX’s high-end properties “will not be sufficient” to fully repay the $256.3m debt owed to the crypto exchange’s Bahamian subsidiary, it has been asserted… more
FTX US chief feared $9bn Bahamas ‘risk’
Bahamas – FTX’s US chief has admitted he feared a “risk” that the crypto exchange’s Bahamian liquidators “could be awarded material” sums on their $9bn-plus claim if he failed to settle their dispute… more
How Amazon.com Shipped Directly To My door in Jamaica, Finally!
Jamaica – I don’t know about anyone else but I’ve never gone to Amazon.com, had it detect my Kingston, Jamaica location, ask me if I want to have my stuff delivered to an address there, accept my Jamaican address, then asked me for my Passport or TRN so it can handle customs clearance fees, then when I have my things in my Cart go over the Jamaican Government allowed US$50, it calculates the Jamaican customs rate, when it’s below, there is no customs fee, then add its global delivery charge, accepts my Jamaican bank Visa Debit Card as Payment. Then for delivery, tells me me it will take 2 1/2 weeks then delivers my packages within a week to my door… more
Primary schools next phase of ICT push by Education Ministry
Jamaica – The Ministry of Education and Youth is to introduce technology labs in primary schools in the next phase of its ongoing drive to build out information and communications technology (ICT) across the education sector… more
Ransomware’s Ripple Effect
Trinidad and Tobago – On December 29, 2023, The US Sun published an article, “HACKED IN ‘My hand was shaking,’ Citibank customer says as $65,000 wiped from accounts after his cell phone SIM card was swapped.” The author described the experience of a Kai Chin, a Citibank customer whose Personal Identifiable Information (PII) was obtained from the dark web by fraudsters. Kai Chin’s bank account was depleted of US $65,000 after fraudsters swapped his cell phone SIM and stole the contents of his account via wire transfer… more
Tuesday, 9 January 2024
Fintech Islands Experience (FiX) Leading the Region’s Charge in Financial Technology
Caribbean – Fintech industry leaders from all over the world will gather at the Sam Lord’s Castle Wyndham Grand Barbados from January 24–26, 2024, for the second edition of Fintech Islands Experience (FiX). FiX24 is gearing up to be bigger and better than the inaugural conference held in 2022, with over 700 fintech professionals, start-up founders, financial regulators, policymakers, and more who are set to participate in this landmark gathering… more
Route engineering set to start for TAM-1 Caribbean submarine cable
Caribbean – Trans Americas Fiber System is set to kick off the route engineering stage for TAM-1, a submarine cable linking Florida to Central America and the Caribbean, cable builder Xtera said… more
Jamaica’s Education Ministry Fosters Digital Skills with Tech Labs in Primary Schools
Jamaica – The Jamaican Ministry of Education and Youth is making strides to integrate Information and Communications Technology (ICT) comprehensively into its education sector. Minister Fayval Williams announced the introduction of technology labs in primary schools as an initiative to instill critical digital age skills from an early age… more
Learning Should Improve at Homestead Primary with Smart Room
Jamaica – With the establishment of a smart room, learning should improve at the Homestead Primary and Infant School in St. Catherine… more
Union ready to tackle other issues after TSTT CFO’s firing
Trinidad and Tobago – The Communications Workers Union (CWU) says it is ready to move on from last week’s sacking of Shiva Ramnarine as Telecommunications Services of Trinidad and Tobago (TSTT) chief financial officer (CFO) and is focused on improving the company for the sake of customers… more
Wednesday, 10 January 2024
RBC Royal Bank to halt online fees and reimburse customers
Barbados – RBC Royal Bank, the lone commercial bank that was charging customers for transactions done via the automated clearing house (ACH), will cease doing so and also refund those who have been charged… more
Caribbean Netherlands and other island nations see digital transformation
Caribbean – Digital transformation initiatives among Caribbean islands are seeing success. A program line for digital development in the Caribbean Netherlands has reached its one year mark… more
DEADLINE EXTENDED – OECS Global Startup Hub February 2024 cohort
Caribbean – The Organisation of Eastern Caribbean States (OECS) Commission, in partnership with Draper University and the Caribbean Development Bank (CDB), has relaunched the OECS Global Startup Hub for a second cohort… more
Fintech Islands 2024 – All you need to know
Caribbean – Fintech Islands 2024 is poised to be a landmark event in the global fintech landscape. Scheduled for January 24-26, this event is set to unfold in the picturesque and historic setting of Sam Lord’s Castle in Barbados… more
Ministry refuses release of study on proposed subsea cable
Cayman Islands – The planning and infrastructure ministry has released some documents relating to the proposed new undersea communications cable and the recruitment of the project manager and team, as well as the basics of the CI$1.3 million contract with Cambridge Management Consultants… more
‘It’s wasting resources’
Jamaica – FORMER governor the Central Bank of Barbados DeLisle Worrell has slammed efforts by central banks around the region to establish central bank digital currencies (CBDCs) such as JAM-DEX here in Jamaica saying they are nothing but a waste of time and resources, because “there is no longer any need for currencies of any kind”… more
TELEM CEO Advises staff to read the full audit report that was leaked.
Sint Maarten – The Chief Executive Officer of TELEM Group of Companies Kendall Dupersoy penned a letter to his staff on Wednesday requesting that they read the full audit report that was leaked to all social media platforms. Below is the memo sent to the staff of TELEM… more
TELEM CEO Responds.
Sint Maarten – Dear Mr. Editor, I hope this letter finds you well. I am writing in response to the front-page article published in the Daily Herald on January 3, 2024, which referenced a confidential operational audit report of the TelEm Group of Companies… more
Can Trinidad and Tobago be an AI health hub of the Caribbean?
Trinidad and Tobago – Artificial intelligence (AI) has become a transformative force in various industries, and healthcare is no exception… more
Thursday, 11 January 2024
Artificial intelligence experts to address AI use cases for local businesses
Bahamas – Two artificial intelligence (AI) experts are slated to chat with Bahamian businesses on the benefits of using (AI) for day-to-day operations at a micro level for starters, in order to bring efficiency to tasks, a statement on the upcoming AI talk hosted by Plato Alpha Design at Crypto Isle explained… more
Digital evolution drives retail’s transformation
Bahamas – In the fast-paced realm of business, the evolution of e-commerce has been nothing short of revolutionary. Over the past few decades, technology has transformed the way we shop, ushering in an era where the traditional brick-and-mortar stores are increasingly being complemented, if not replaced, by online retail platforms… more
FTX Bahamas properties must fetch ‘80% of value’
Bahamas – All sales of FTX’s 35 high-end Bahamas properties must fetch a price that is “equal to or greater than 80 percent” of their broker-appraised values, it has been revealed… more
FTX seeking permission to sell Bahamas properties
Bahamas – FTX is hoping to get permission from a Delaware bankruptcy court to sell $222 million in luxury real estate once owned by the collapsed cryptocurrency exchange, a Law360 article released Friday said… more
FTX submits revised proposal to liquidate Bahamas properties
Bahamas – FTX has submitted a revised proposal, bolstered by an agreement with Bahamian joint official liquidators of FTX Digital Markets, to a Delaware bankruptcy court in a bid to sell $222 million in luxury real estate across 35 different units, once owned by the collapsed cryptocurrency exchange, a court document filed in US bankruptcy court yesterday revealed… more
Target data storage for Bahamas AI growth
Bahamas – A Bahamian software developer yesterday said data storage represents the first Artificial Intelligence (AI) related growth area that this nation can exploit for economic advantage… more
Online appointments to cut waiting time at public hospitals – Health Minister
Guyana – Minister of Health, Dr. Frank Anthony has announced that his ministry is currently narrowing down proposals submitted to facilitate the digitalization of the country’s health sector, as well as implementing online appointments that will significantly cut down waiting time at the public hospitals. The appointments will be done through a mobile app… more
Prime Minister Holness Lauds Digicel Founder, Denis O’Brien
Jamaica – Prime Minister, the Most Hon. Andrew Holness, has hailed Digicel founder, Denis O’Brien, for his role in establishing the company that has grown to be a major operator in Jamaica’s telecommunications landscape… more
Why Denis O’Brien is the greatest entrepreneur the Caribbean has ever seen
Jamaica – On Tuesday night at the AC Marriott Hotel in Kingston, a reception and farewell was held for the founder and Chairman of Digicel, Denis O’Brien… more
Friday, 12 January 2024
‘You need to pay’
Caribbean – DIGICEL chairman Denis O’Brien has called again for over-the-top (OTT) platforms such as Google/YouTube, WhatsApp, Netflix and Facebook to be made to share a portion of revenues generated in the region with the telecommunication networks on which their services are accessed. O’Brien, who is scheduled to retire as chairman in two weeks, when he will take up a non-executive directorship, reiterated the call at a glitzy retirement party held for him at the AC Hotel Kingston Tuesday night, saying if they are not made to pay, the telco will not invest in 5G technology… more
TTCSIRT Manager passes
Trinidad and Tobago – Angus Smith, Manager of the TT Cyber Security Incident Response Team has passed according to a note posted on the TTCSIRT website… more
Saturday, 13 January 2024
Despite cyberattack, QEH official praises benefits of ‘technology boost’
Barbados – Although acknowledging that a cyberattack over a year ago disrupted services at the Queen Elizabeth Hospital (QEH), a senior official has stressed the importance of transitioning the healthcare facility into the digital age… more
Sunday, 14 January 2024
Mastercard forecasts stable inflation in Latin America, but Central America, Caribbean may be vulnerable
Caribbean – Mastercard, in its yearly economic outlook, is predicting a deceleration in inflation across Latin America from 6.0 per cent in 2023 to 4.9 per cent year in 2024. It, however, forecasts that the economies of Central America and the Caribbean will be more vulnerable this year from the slowdown in the US economy due to weaker exports and lower remittances… more
Gov’t to use facial recognition to track criminals – Jagdeo
Guyana – Vice President, Bharrat Jagdeo on Thursday said that the government is working on a biometric project that will allow the authorities to use facial recognition software to track people with criminal records and pinpoint their exact location at any given time… more
Images credit: Freepik; Fintech Islands; Telem Group; Wikipedia; Wikimedia Commons; Wikipedia
