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Emancipation Day message – ‘Let us build a future worthy of the sacrifices of those who came before us’

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Emancipation Day message – ‘Let us build a future worthy of the sacrifices of those who came before us’
  • Message from Philip J Pierre, chair of the Caribbean Community (CARICOM) and Prime Minister of Saint Lucia

Today, we remember the women, men and children, those whose bodies were enslaved, but whose spirits could never be conquered. We remember those who endured cruelty beyond imagination, yet refused to surrender their dignity, their humanity, or their hope. And because they endured, because they resisted, because they believed, we stand here today as a free people.

That is why Emancipation Day is not simply another date on our calendar. It is a sacred reminder of where we have come from. A reminder of what we have overcome and of what still lies before us. Freedom was never handed to our ancestors. Freedom was demanded.

Freedom was fought for. Freedom was paid for with sacrifice, with courage and with an unbreakable faith. That is why we honour them today. Not only with our words, but with our commitment to build the kind of society they dreamed was possible.

My fellow citizens: The end of slavery was not the end of injustice. Our ancestors walked into freedom without land, without wealth, without compensation, without opportunity. Yet those who benefited from their labour were rewarded. History cannot be changed. But history must be understood. Because only when we understand our past can we fully appreciate our responsibility to shape a better future. That responsibility belongs to every generation. It belongs to us.

Our Caribbean story is unlike any other. It is a story shaped by the dispossession of Indigenous people, the suffering of African enslavement, the experience of indentureship and centuries of colonial rule. But it is also a story of extraordinary resilience. Out of pain our people created beauty. Out of struggle our people created strength. Out of oppression our people created hope.  We built nations. We built communities. We built democracies.

We have created music that moves the world. Literature that enlightens the world.
Culture that transforms and enriches the world. And we must never apologise for who we are.
We are Caribbean people. We are a proud people. We are a resilient people. And have every reason to believe in our future.

My brothers and sisters: The work of emancipation continues. Political freedom alone is not enough. Our people deserve economic freedom. They deserve opportunity. They deserve ownership. They deserve prosperity.

We must build economies where Caribbean people are creating wealth, not merely consuming it. Where our young people see opportunity at home. Where our entrepreneurs can succeed. Where our farmers, fishers and manufacturers are valued. Where hard work is rewarded with dignity.  That is the Caribbean we must build.

Our young people must remain at the centre of everything we do. Every child deserves the chance to dream. Every young person deserves the chance to achieve. Our schools must prepare them to innovate, to lead, to build businesses, to master technology, to transform our societies. We want our young people to fulfil their potential, to pursue lives of purpose and achievement, and to use their talents to strengthen our nation and our Caribbean Community.

My fellow citizens: No nation is truly secure if it cannot feed itself. That is why food security matters.
Every acre cultivated, every farmer supported; every fisher encouraged, every Caribbean product placed on our supermarket shelves brings us one step closer to genuine independence.

The same is true for energy. Our future depends upon affordable, reliable and cleaner sources of energy.  Not only because it protects our environment. But because it strengthens our economy, creates jobs, and lowers the cost of living for our people. These are not simply development goals. They are part of the unfinished journey of emancipation.

There is another part of that journey. The pursuit of reparations for slavery is not about blame, not about revenge. It is about the truth and justice for the human suffering of slavery.

My sisters and brothers: Every generation inherits more than freedom; it inherits a responsibility. Our responsibility is to honour the sacrifices of those who came before us by building a society that is more just, more united and more prosperous than the one they entrusted to us. The true measure of our freedom lies not only in what we remember, but in what we choose to build together. I believe we are equal to that responsibility because I believe in the people of our Caribbean Community.

Let us strive to create a CARICOM Community where emancipation is measured not only by how we celebrate but by how we live. Together, let us continue the work begun by our forefathers; let us strengthen our Caribbean Community; let us build a future worthy of the sacrifices of those who came before us.

We are one Caribbean people. May God bless our Caribbean Community. And may He guide us always as we continue the unfinished journey from emancipation to justice to prosperity and to lasting freedom.

Air Canada achieves IATA CEIV Lithium Batteries Certification

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Air Canada achieves IATA CEIV Lithium Batteries Certification

MONTRÉAL, Canada – Air Canada today announced that the airline has achieved IATA CEIV Lithium Batteries certification for shipments with Air Canada Cargo, further strengthening its specialised cargo capabilities and reinforcing its commitment to safety, compliance and operational excellence.

The certification validates Air Canada’s adherence to globally recognised standards for the safe handling, storage and transportation of lithium battery shipments, a growing segment of the global air cargo market driven by demand from industries including consumer electronics, medical technology, electric vehicles and energy storage.

“Achieving IATA CEIV Lithium Batteries certification is an important milestone for Air Canada Cargo and reflects the strength of our people, processes and operational discipline,” said Janet Wallace, managing director, Cargo Operations and Transformation at Air Canada. “As customers increasingly rely on air cargo to transport complex and highly regulated shipments, this certification gives them added confidence that their lithium battery shipments are handled safely, efficiently and in accordance with rigorous global standards.” 

As part of the certification process, Air Canada completed a comprehensive review of its cargo operating procedures and undertook an independent IATA audit of its documented processes, procedures and operational activities, including an on-site assessment of its Montréal (YUL) cargo facility. Key Air Canada personnel, including Dangerous Goods specialists from warehouse operations and representatives from Cargo Operations and Transformation Management, also completed specialised IATA lithium battery training required for certification in the proper handling of lithium batteries.

This certification applies only to commercial cargo shipments and does not apply to passengers travelling with lithium batteries.

  • Passenger requirements are available here. 

CEIV Lithium Batteries builds on Air Canada’s existing CEIV Pharma and CEIV Live Animals certifications, reinforcing its expertise in handling specialised, sensitive and highly regulated commodities across its global network.

With service to more than 450 destinations worldwide, Air Canada combines broad global reach with internationally recognised safety and quality standards.

New APEC vaccination dashboard reveals adult immunisation gaps across APEC

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New APEC vaccination dashboard reveals adult immunisation gaps across APEC

SINGAPORE – Childhood vaccination rates remain high across much of the Asia-Pacific, but new APEC data shows that coverage drops sharply in adolescence and older age. To help economies better understand and address those gaps, the APEC Health Working Group launched a new interactive online dashboard.

The dashboard allows users to explore immunisation data by economy, indicator and policy area, assess immunisation program strengths, identify policy and financing gaps and learn from peer approaches across the region.

“Member economies need to treat life-course immunisation as an urgent policy priority. This dynamic tool will help economies better assess immunisation program strengths and identify policy and financing gaps across the region,” said Jae Woo Kim, chair of APEC health working group, who oversees this initiative.

The data suggests that the systems supporting high childhood vaccination have yet to translate into consistent protection through adolescence and older age.

Thirteen APEC economies report DTP-containing vaccine coverage above 90 percent among children, but only two reach the same level for adolescent HPV vaccination and just one for influenza vaccination among older adults.

The dashboard also highlights broader demographic trends shaping future vaccination needs. Its old-age dependency ratio shows how rapidly populations are aging relative to the working-age population.

Economies such as Hong Kong, China (33.9) and Korea (27.47) face some of the region’s highest ratios, underscoring the importance of keeping people healthier for longer to reduce pressure on health systems and public finances.

The dashboard also shows that adult vaccines, including HPV, influenza and shingles, can contribute to both infectious disease prevention and broader healthy aging objectives by reducing complications among older adults and people with chronic conditions, and helping people remain active and productive for longer.

“Strengthening life-course immunisation is critical to building resilient health systems and supporting healthy aging across APEC economies,” Dr Ryan MacFarlane from the APEC Vaccines Task Force said. “The new dashboard gives APEC economies a practical way to see where progress is being made and where health gaps remain.”

The dashboard supports implementation of the APEC Action Plan on Vaccination Across the Life-Course by giving member economies a practical tool to benchmark progress, identify policy gaps and share good practices. As the Action Plan reaches its midpoint, the launch marks an important milestone in strengthening regional cooperation on vaccination across every stage of life.

From well to pump: How fuel prices are formed

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From well to pump: How fuel prices are formed
    • Retail fuel prices have surged in 2026 following the outbreak of the conflict in the Middle East, driving up euro area energy inflation. In this blog, we examine the factors that drive fuel price dynamics at the pump.

By Friderike Kuik, Eliza Lis, Christiane Nickel and Mario Porqueddu

Rising oil prices amid the conflict in the Middle East have put the public spotlight back on fuel costs and their potential impact on inflation. This blog post explains how changes in crude oil prices feed through to what consumers pay for petrol or diesel at the pump. To do so, we take three steps.

First, we break down prices into three components − crude oil, refining and distribution margins, and taxes − and show how these prices reacted to changes in oil prices within weeks and the pass-through was complete. Second, we explain why a 10 percent increase in oil prices does not automatically translate into a 10 percent increase in fuel prices, as taxes and other fixed cost components dampen the pass-through. And third, we examine the role of refining margins, which can at times amplify the impact of oil price shocks on fuel prices, household budgets and inflation.

Oil price rises are transmitted fast and fully to retail fuel prices

In general, the prices for refined fuel and crude oil move pretty much in lockstep from month to month, although refined products (in particular diesel) have outpaced crude at times since 2022. This is a first sign of the role played by refining margins, to which we will return later.

To better understand how the recent oil price shock made it to the price of diesel at the petrol station, we need to trace the transmission mechanism. Prices for Brent crude rose rapidly in March after the outbreak of the conflict in the Middle East, peaking at 138 US dollars per barrel in early April. This is almost double the level seen in late February. To produce diesel, crude oil is processed in a refinery. On this occasion, prices of diesel after the refining process rose even faster than prices of crude oil, peaking at 197 US dollars per barrel in April. This resulted in ever higher prices at the pump. By the first week of April, retail diesel prices averaged €2.18 per litre across the euro area compared with €1.63 per litre in late February – a sizeable jump of a third. Rising crude oil prices thus fed quickly into rising consumer prices, as they usually do. In general, the pass-through is fast, within one or two months, and complete. Rather than being absorbed by lower profit margins, an increase of €0.10 per litre in crude oil prices usually translates into an increase of €0.10 per litre in pre-tax pump prices.

While the pass-through from oil prices to pump prices is complete in levels, in relative terms retail prices increased less. To understand why, we need to look at all the other components that make up consumer prices. And this also helps us comprehend why diesel prices rose by €0.55 against only €0.35 for crude prices.

In relative terms, retail prices increase less than crude prices

The prices of crude oil and refined diesel rose by over 90 percent between the end of February and the first week of April (peak since the outbreak of the Middle East conflict), whereas diesel prices at the pump increased by around “only” 34 percent. Similar dynamics applied to petrol. The reason for this is that a large share of the retail price is fixed and does not move with oil market prices.

Price elasticities – how much retail prices change in percentage terms when input prices change – vary along the five components that make up the price at the petrol station:

  • Crude oil is highly sensitive to both supply shocks (like the Middle East conflict) and demand shocks (like the COVID-19 pandemic). Since 2021 the crude oil component has averaged around €0.47 per litre of diesel, ranging from €0.28 to €0.80. At its most recent peak in the first week of April, it reached €0.73 (a 92% increase compared with the end of February).
  • Refining costs and margins are calculated as the difference between the contribution of refined product prices and the contribution of crude oil prices. This spread captures the additional costs and gross margins associated with all steps between crude oil arriving at the refinery and usable fuel leaving it. In the last week of February, they contributed €0.13 to the retail price of diesel, in line with the historical average from 2021. As mentioned above and detailed below, this price component was amplified during the recent energy shock (a 168% increase compared with the end of February).
  • Distribution costs and margins cover all activities between refining and the final sale of the product. These include transporting the product to the local retail outlet, marketing expenses and the costs of operating the outlet (e.g. rents and wages). Distribution margins absorbed part of the increase in diesel refining, falling by 14 percent compared with the end of February.
  • Excise duties are taxes levied at a fixed amount per litre that rarely changes, averaging €0.52 (diesel) and €0.66 (petrol) in the euro area since 2021. Several countries have temporarily cut excise duties to dampen the inflationary impact from the energy shock for consumers, as they did after Russia invaded Ukraine. These duties declined by around 8 percent compared with the end of February. In most cases, the latest measures expired in June this year.
  • Value added taxes (VAT) are levied as a fixed percentage of the pre-tax consumer price and excise duties (currently around 19-22% in most countries). Thus, they rise and fall with the pre-tax price but add no independent volatility. VAT accounts for roughly one-sixth of the retail price. The VAT component increased by 24 percent compared with the end of February (hence less than the retail price percentage change due to a cut of around 8% to the average VAT rate across the euro area, from 20.7% to 18.9%).

As excise duties and VAT together make up a big, largely fixed share of the price, a given percentage increase in crude oil prices translates into a much smaller percentage move at the station.

The renewed escalation of the conflict since early July has pushed pump prices back up, to around €1.98 per litre of diesel in the third week of July – with refining margins again playing an important role (Chart 2, panel d).

Why refining margins mattered this time

What is behind the big jump in absolute prices for diesel and petrol? This time, refining margins made a difference.

These margins may vary for a number of reasons, including:

(i) the varying refining processes according to the refined product requirements and the type of crude oil used;

(ii) the varying supply of and demand for various refined products – for example, when refineries are closed for maintenance or damaged in conflicts, or also when refined products from specific countries are under embargo for political reasons.

In the case of the recent energy shock, the closure of the Strait of Hormuz has affected a significant share of global refining capacity. Essentially, this led to a decline in global refined-product exports of around 4.5 million barrels per day in the second quarter of 2026. This sharp supply crunch resulted in rapidly widening refining costs and margins, jumping from a monthly average of €0.10 per litre of diesel in February to €0.26 in March.

More recently, the renewed escalation of the conflict has led to another surge in refining costs and margins to near-record highs amid reduced refining capacity, contributing €0.35 to the diesel price and €0.23 to petrol for the first three weeks of July (Chart 3). Looking ahead, based on refined diesel futures on 20 July, the contribution from margins is expected to peak in August before declining to €0.16 by the end of 2027, close to levels observed at the end of February 2026.

What happens on the “way down”?

Crude oil prices fell significantly during the recent short-lived reopening of the Strait of Hormuz (18 June to 11 July), and retail diesel prices followed suit. Over the last few decades the “rockets and feathers” literature has discussed whether there is any evidence of asymmetry – whether retail prices fall less quickly (“feathers”) when oil prices come down compared with how fast they rise when oil prices go up (“rockets”). Earlier studies for the euro area failed to find any asymmetries, or the overall picture was inconclusive. However, more recent work suggests that the pass-through could be slower on the way down. This could reflect lags in inventory replacement, uncertainty about the persistence of crude oil price changes or weaker competitive pressure when costs decline. Further analysis is therefore needed to establish whether and why asymmetries were observed during the recent shock.

Conclusions

The Middle East oil price shock has been significant and had a marked impact on retail fuel prices, with refining margins amplifying the effect. Overall, the Harmonised Index of Consumer Prices (HICP) for fuel drove the increase in the HICP for energy from -3.1 percent to 10.8 percent between February and May 2026 before it declined to 8.5 percent in June. As observed in the past, increases in the prices of crude and refined fuels passed through to retail prices rapidly, while temporary reductions in excise duties and taxes helped to alleviate the burden on consumers. When oil prices fell during the brief reopening of the Strait of Hormuz, pressures on retail fuel prices eased to some extent. The renewed escalation of the conflict has led to another sharp rise in fuel prices, reflecting not only higher crude oil prices but also surging refining margins.

Norwegian short film spotlights the Jamaica-led Blue Justice Caribbean hub

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Norwegian short film spotlights the Jamaica-led Blue Justice Caribbean hub

KINGSTON, Jamaica – An intergovernmental regional tracking system supported by the Norwegian government is being hailed for empowering the Jamaica-led Blue Justice Caribbean Hub in its fight against organised crime in the fisheries sector, including Illegal, Unreported, and Unregulated fishing (IUU).

“The establishment of the Blue Justice International Tracking Center, together with the secure government-to-government digital platform, has proven to be very, very transformative”, disclosed minister of state in the ministry of agriculture, fisheries and mining, Franklin Witter.

The satellite-supported vessel tracking and analysis system is already providing Caribbean countries with timely and actionable data, which the minister declared as critical for intercepting, monitoring, and deterring illicit activities. “In times of disaster, it becomes nothing short of a lifeline,” he disclosed.

Minister Witter was addressing the recent Caribbean premiere of the short film ‘Taking Back Our Oceans’ produced by the Norwegian government’s Blue Justice Initiative. Under a global partnership, Norway and the United Nations Development Programme’s (UNDP) Blue Resilience project are tackling transnational fisheries crime. UNDP’s Blue Resilience project also supports the National Fisheries Authority-led Blue Justice Caribbean Hub to advance regional cooperation and strengthen capacity to prevent, detect, and respond to fisheries crime.

“We cannot confront transnational organized crime in fisheries in isolation. We need shared data. We need coordinated intelligence, and critically, we need equity in access to the technology,” minister Witter declared. He encouraged all participating entities and member states in the Blue Justice Caribbean Hub to continue strengthening the collaboration, sharing expertise, and advancing practical solutions that support a safer, more sustainable maritime future for our region and beyond.

“Through the Blue Justice — the Blue Resilience Project, the Blue Justice Caribbean Hub, and Jamaica’s multi-agency mechanism template – we have demonstrated the value of this collaborative approach which has been shared and adopted in the region,” reported National Fisheries Authority (NFA) chief executive officer Dr Gavin Bellamy, whose agency heads up the Blue Justice Caribbean Hub.

He noted that Cape Verde has drawn inspiration from the Jamaican and Caribbean experience, which have helped inform discussions in Cape Verde on strengthening inter-agency cooperation and regional collaboration. Dr Bellamy also reported that with UNDP Blue Resilience support, regional capacity building interventions convened in person and on the Blue Justice Community secure platform have positively impacted local and regional cooperation in the fight against transnational organized crime and IUUF.

UNDP assistant resident representative Lesley-Ann Ennevor also hailed the work of Jamaica’s Multi-Agency Mechanism, noting its collaborative approach was already yielding results. “Through joint training, improved coordination, and the use of innovative tools such as secure digital platforms, agencies are better equipped to address illegal fishing and related crimes across the supply chain,” she observed.

In acknowledging the negative impacts of fisheries crimes on the economy, minister of water, environment and climate change, Matthew Samuda, said it was clear Jamaica had been raided of its fish stock far more than was realised. He pointed to ongoing investments in the Coast Guard and in the environment as a positive contribution to the fight against fisheries crime. “I’m happy with the work that we’ve done with the declaration of increased Protected Areas because ultimately this gives us a chance to replenish our pelagic stock,” he explained.

With the support of UNDP’s Blue Resilience project financed by the government of Norway, Jamaica has established a Multi-Agency Mechanism to enhance governance systems, strengthen compliance, and build resilience across fisheries value chains.

Through the Blue Justice Caribbean Hub, launched in 2023, the region has been advancing practical cooperation to strengthen capacities to prevent, detect, and respond to fisheries crime. UNDP is proud to support this effort through the Blue Resilience Project, working closely with national institutions to enhance governance systems, strengthen compliance, and build resilience across fisheries value chains.

Nicaragua’s abandoned ballot: What the OAS can and cannot do

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Nicaragua’s abandoned ballot: What the OAS can and cannot do

By Sir Ronald Sanders

Daniel Ortega has now said openly what his regime has demonstrated for years: the people of Nicaragua are not to be permitted to remove their rulers through elections.

During celebrations marking the 47th anniversary of the Sandinista Revolution, Ortega declared that there would be “no more elections” through which opposition parties could attempt to take power. He also promised a legislative “wall” against persons his government labels coup plotters and traitors.

The irony is stark. A revolution that overthrew the Somoza family dictatorship has produced another dynastic system, led by Ortega and his wife and co-president, Rosario Murillo.

I responded immediately on X, tweeting: “I unequivocally condemn Ortega’s outrageous announcement that Nicaragua will end elections. This is an assault on democracy and human rights. All responsible governments should condemn this unacceptable act. The people of Nicaragua have suffered long enough.”

However, Ortega’s declaration changed the official rhetoric more than the reality. Elections had already become a gimmick preserving the appearance, but not the substance, of popular choice. Before the 2021 election, opposition parties were outlawed and prospective presidential candidates arrested. Media and civil society organisations were closed or forced into exile. The latest declaration removes the remaining pretence of electoral competition.

Several member states of the Organization of American States (OAS) have condemned Ortega’s announcement. Secretary General Albert Ramdin has rightly described the elimination of elections as a denial of the Nicaraguan people’s sovereign right to choose their government. Neither the Secretary General nor individual governments can, by themselves, express the collective position of the OAS. And, while a month ago, the OAS General Assembly issued a declaration on the deterioration in Nicaragua, the OAS has not responded collectively to Ortega’s subsequent edict.

The delegations of Canada and Chile sought to remedy this silence by preparing a statement for member states. As Dean of the OAS Corps of Ambassadors, I contributed language to that statement, firmly condemning Ortega’s actions and calling for genuine multi-party elections.

At the time of writing, that text has not been considered by the Permanent Council, and the United States has since proposed a separate resolution that is also awaiting consideration. The central issue now before the OAS is how Ortega’s actions should be characterised.

What is happening in Nicaragua is a crisis of representative democracy, human rights and the rule of law. The Ortega-Murillo government continues to deprive Nicaraguans of their rights, deepen instability and fear, and drive people to escape repression through irregular migration, creating pressures for receiving states. But this does not transform an internal human rights crisis into a threat to hemispheric peace and security. Nicaraguans fleeing persecution are victims, not security threats to the countries in which they seek safety.

This distinction also matters legally.

Nicaragua withdrew from the OAS in November 2023. I was president of the Permanent Council when the withdrawal took effect. We made clear that the withdrawal did not erase the international human rights obligations applicable to Nicaragua, including those arising from the American Convention on Human Rights.

The government chose withdrawal after a majority of member states resisted its violations of democracy and the rule of law and while suspension under the OAS Charter and the Inter-American Democratic Charter remained possible. Those suspension provisions apply only to member states and therefore no longer provide a course of action.

This does not mean that the OAS must remain silent or inactive. It means that the organisation must distinguish between political and human rights measures within its competence and any coercive measures which would require a different legal basis that is outside its authority.

Within the inter-American system, binding collective sanctions would have to be pursued, if at all, by states parties to the Inter-American Treaty of Reciprocal Assistance, or the Rio Treaty. This separate procedure is available only to parties to that Treaty and requires a credible determination that the peace of the Americas is endangered. Not all OAS members are parties, and Nicaragua is no longer one.

More importantly, Ortega’s oppression of the Nicaraguan people, while reprehensible, does not constitute an armed attack upon another state or justify claiming that Nicaragua presently threatens hemispheric peace and security. The law cannot be stretched merely because the political conduct being condemned is offensive. Doing so would weaken the rules-based order that defenders of democracy seek to uphold.

There are, nevertheless, meaningful actions that the OAS can and should take.

The Permanent Council can adopt a clear resolution condemning the elimination of meaningful electoral competition and rejecting the exclusion of candidates or organisations solely because they peacefully oppose the government. It can demand the release of political prisoners, the restoration of civil and political rights, and the reopening of space for independent media and civil society.

It can keep Nicaragua under sustained consideration pursuant to the June General Assembly declaration. It can receive regular briefings from the Inter-American Commission on Human Rights and support the Commission’s monitoring, hearings and precautionary measures.

The OAS can call upon Nicaragua to comply with decisions and provisional measures of the Inter-American Court of Human Rights. The secretary general can offer good offices, even if the government refuses to engage. Member states can also support civil society in exile, cooperate with United Nations mechanisms to preserve evidence, and protect those forced to flee.

Individual governments may consider their own lawful diplomatic measures. But these should be identified honestly as national decisions, not represented as collective OAS action unless authorised by the organisation’s competent organs.

The message to Ortega and Murillo must therefore be unmistakable. Nicaragua’s withdrawal from the OAS has not placed their regime beyond scrutiny or accountability. The OAS must maintain constant vigilance, document continuing abuses through its human rights institutions, and keep Nicaragua under sustained consideration by its political organs. It must insist that those responsible for violations are held accountable under applicable international law.

Ortega may have abandoned the ballot because he fears the verdict of his own people, but the Inter-American community must neither normalise his conduct nor allow it to disappear from hemispheric attention. Its response should be united, persistent and unambiguous, while remaining firmly grounded in the rule of law.

Shield AI – Thunder Tiger complete Hivemind’s first multi-asset autonomous maritime teaming demonstration in Taiwan

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Shield AI – Thunder Tiger complete Hivemind’s first multi-asset autonomous maritime teaming demonstration in Taiwan

TAIPEI, Taiwan — Shield AI and Thunder Tiger Corp., announced the successful completion of Hivemind’s first multi-asset autonomous teaming demonstration on water, validating Shield AI’s Hivemind AI pilot aboard Thunder Tiger SeaShark unmanned surface vessels (USVs) in a coordinated mission on July 29, 2026.

During the demonstration in Pingtung, Taiwan, Thunder Tiger’s SeaShark 600 and SeaShark 800 USVs equipped with Hivemind autonomously executed a coordinated intelligence, surveillance, and reconnaissance (ISR) mission using maritime radar, imagery, and Automatic Identification System (AIS) data. Hivemind autonomously planned mission waypoints, searched a designated maritime area, identified a target vessel of interest, and coordinated the USVs to escort the vessel out of the designated search zone. This demonstration marks Hivemind’s first multi-asset autonomous teaming demonstration on water and Hivemind’s first maritime radar and AIS integration.

“Hivemind continues to prove that true mission autonomy can scale across domains, platforms, and functional assets, unlocking new capabilities for distributed intelligence and maritime security missions,” said Nathan Michael, chief technology officer at Shield AI. “As we continue working with Thunder Tiger to expand the scale and sophistication of autonomous maritime teams, these systems will fundamentally reshape maritime surveillance operations and strengthen deterrence through resilient, intelligent operations.”

Earlier this year, Shield AI and Thunder Tiger announced a strategic partnership to explore integrating the Hivemind AI pilot with Thunder Tiger’s unmanned systems portfolio, supporting autonomous dual‑use maritime missions. Thunder Tiger’s portfolio spans surface and aerial systems, including Blue UAS‑approved first‑person view (FPV) platforms that strengthen secure and resilient supply chains for US and allied defense applications. Building on the success of this demonstration, the companies are continuing to collaborate on additional opportunities that leverage Thunder Tiger’s broad unmanned portfolio and Shield AI’s autonomy technologies, including potential future sensor integrations, advanced autonomous behaviours, larger team operations, and open‑ocean use cases.

“As an island nation, the maritime domain is increasingly critical to Taiwan’s security. By integrating AI pilots into our portfolio, we can enable distributed, networked teams that coordinate dynamically to build a more complete understanding of the maritime environment – improving the ability to detect, classify, and identify contacts while helping operators respond with greater speed, scale, and effectiveness,” said Gene Su, board director and general manager of Thunder Tiger Corp. “This demonstration marks an important step forward in advancing resilient, autonomous maritime capabilities, and we expect our partnership with Shield AI to continue delivering increasingly sophisticated autonomous systems that strengthen Taiwan’s defense posture.”

The Hivemind AI pilot enables platforms to sense, decide, and act independently, without human intervention. Hivemind has already piloted more than 30 different platforms including F-16s, jet-powered unmanned aerial vehicles (UAVs), helicopters, drone boats, and ground vehicles.

Founded in 2015, Shield AI is a venture-backed defense-tech company with the mission of protecting service members and civilians with intelligent systems. Its products include Hivemind autonomy software, V-BAT and X-BAT aircraft, and Aechelon simulation and synthetic reality technologies. With offices and facilities across the US, Europe, the Middle East, and Asia-Pacific, Shield AI’s technology actively supports operations worldwide. For more information, visit www.shield.ai. 

Taiwan’s Drone Cooperation can deliver benefits to the Caribbean

 

Ethiopian private sector actors gain insight on AfDB financing opportunities and strategic partnerships

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Ethiopian private sector actors gain insight on AfDB financing opportunities and strategic partnerships

AFRICA – Over the past decade, Ethiopia has gradually shifted from a development model driven largely by public investment and state-owned enterprises towards one that places greater emphasis on private sector participation.

To support the transition, the bank group, in collaboration with the ministry of finance and with the support of the Ethiopian Investment Commission (EIC), recently organised an Information Dialogue Session in Addis Ababa with representatives from Ethiopia’s private sector to enhance awareness of the bank’s financial instruments and explore opportunities for increased private sector participation in the country’s economic transformation.

The event brought together private sector representatives, financial institutions, and business associations to discuss financing opportunities, investment challenges, and the Bank’s evolving support to Ethiopia’s private sector-led development agenda.

Opening the session, Nathaniel Agola, chief country economist at the bank group, emphasised the bank’s strong belief that private sector engagement is essential to achieving Ethiopia’s growth ambitions. He noted that the bank’s approach aligns closely with the government’s ongoing development model transition.

“Access to affordable and suitable financing remains a significant challenge for many businesses in Ethiopia and thus this forum is important for bridging information gaps and fostering stronger collaboration between the Bank and private sector actors in Ethiopia,” he said.

Representing the ministry of finance, Berhanu Anbesa, head of the International Financial Institutions Cooperation Division, described the bank group as one of Ethiopia’s most strategic development partners.

“The government of Ethiopia has made a decisive shift from a public sector-led approach toward a private sector-led growth strategy because we recognise the role of the private sector as a key driver of sustainable economic growth, innovation, job creation, and economic diversification,” Anbesa said.

Sylvie Mahieu, the East Africa Regional Lead for Non-Sovereign Operations, led a technical session on the Bank Group’s financial instruments available for the private sector. She highlighted financing solutions designed to support private investments, business expansion, infrastructure development, trade finance, and agro-industrialisation initiatives.

The session provided details about loan options, equity and quasi-equity investments, guarantees (partial risk guarantees and partial credit guarantees), trade finance instruments and technical assistance.

Private sector participants and representatives of microfinance institutions raised questions and shared perspectives on the opportunities and challenges associated with accessing development finance. A recurring concern was the minimum capital thresholds often required for direct access to AfDB financing. They cited, as an example, the capital base requirement, which, they said, may be difficult for many Ethiopian businesses seeking direct financing. Bank representatives explained various categories of financing, including the distinction between corporate versus and project financing. While corporate lending typically focuses on a company’s financial performance over time, project financing generally relies on project assets and associated investments as part of the security structure.

Mahieu encouraged businesses to seek professional transaction advisory support to improve their readiness for engaging with international financiers and structuring bankable projects.

Participants welcomed the initiative and encouraged the Bank and its partners to organise more such forums, noting that regular knowledge-sharing sessions would help businesses better understand the Bank’s financing requirements and improve their readiness to access funding.

The bank’s historical support to the private sector in Ethiopia

The African Development Bank Group has supported Ethiopia’s current private sector-driven development model through sovereign reforms and direct private sector investments. The bank’s Ethiopia Country Strategy Paper 2023-2027 places private sector development at the centre, recognising stronger governance, improved financial systems and quality infrastructure as critical foundations for private investment.

While private sector investments constitute roughly seven percent of the bank group’s current portfolio in Ethiopia, the bank group has been a longstanding backer of the country’s private sector.

The bank group supported the establishment of the country’s Public-Private Partnership framework in 2015, financed landmark private sector projects such as  Derba Cement, Ethiopian Airlines fleet expansion in 2016, and trade finance facilities for financial institutions including Dashen Bank and Awash Bank in 2025.

The bank group currently finances 27 projects in Ethiopia valued at approximately $1.3 billion. While 93 percent of the portfolio consists of public sector operations, the bank group is increasingly prioritising non-sovereign and private sector operations in line with Ethiopia’s private sector-led development agenda.

Air passenger demand falls 1.7 percent in June

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Air passenger demand falls 1.7 percent in June

GENEVA, Switzerland – The International Air Transport Association (IATA) released data for June 2026 global passenger demand:

  • Total demand, measured in revenue passenger kilometers (RPK), was down 1.7% compared to June 2025. Excluding the Middle East, demand declined by 0.6%. Total capacity, measured in available seat kilometers (ASK), decreased 1.3% year-on-year. The load factor was 84.2% (-0.4 ppt compared to June 2025).
  • International demand fell 0.9% compared to June 2025. Excluding the Middle East, demand grew by 1.1%. Capacity was down 0.6% year-on-year, and the load factor was 84.2% (-0.2 ppt compared to June 2025).
  • Domestic demand contracted 3.0% compared to June 2025. Capacity decreased 2.4% year-on-year. The load factor was 84.0% (-0.5 ppt compared to June 2025).

“Global demand for air travel was down 1.7 percent in June compared to 2025. This is largely due to domestic market declines in China, the US, and Japan, and weak but improving international demand for Middle East carriers. While Middle East performance improved, renewed tensions will not help the region’s recovery, and the knock-on impact of rising fuel prices will continue to burden travellers with higher airfares.

People continue to travel, which is an important contributor to global economic growth. There is no doubt, however, that stabilising the situation in the Middle East and normalising oil supplies would improve prospects for airlines, economies, and societies the world over,” said Willie Walsh, IATA’s director general.

Regional breakdown – International passenger markets

International RPK fell 0.9 percent, with capacity falling 0.6 percent. Excluding the Middle East, international traffic was up 1.1percent.

Asia-Pacific airlines achieved a 0.4% year-on-year increase in demand. Capacity decreased 1.1% year-on-year, and the load factor was 84.0% (+1.3 ppt compared to June 2025). Slower growth was a result of some carriers cutting back on short-haul routes due to higher fuel prices (capacity on international routes within Asia was down 4.8%).

European carriers saw a 1.5% year-on-year increase in demand. Capacity increased 2.0% year-on-year, and the load factor was 87.1% (-0.5 ppt compared to June 2025). Growth on the Europe-Asia corridor was 11.0%, the fastest growth among all major international route corridors.

North American carriers saw a decrease in demand of 1.0% year-on-year. Capacity decreased 0.7% year-on-year, and the load factor was 86.9% (-0.3 ppt compared to June 2025).

Middle Eastern carriers saw a 14% year-on-year decrease in demand. Capacity fell 11% year-on-year, and the load factor was 76.3% (-2.6 ppt compared to June 2025). The impacts of the Iran war continue to cause a highly negative year-on-year traffic comparison, but the rate of decline halved month-to-month since April. This reflects both the gradual normalization of airline operations across the region and the lower comparison base as traffic in June 2025 was impacted by the military strikes that month.

Latin American airlines achieved a 3.5% year-on-year increase in demand. Capacity climbed 6.3% year-on-year. The load factor was 81.6% (-2.2 ppt compared to June 2025).

African airlines saw a 6.7% year-on-year increase in demand. Capacity was up 7.0% year-on-year. The load factor was 74.2% (-0.3 ppt compared to June 2025).

Domestic passenger markets

Domestic RPK fell (-3.0%) in June 2026 compared to the same month last year. Domestic Brazil traffic was up 0.9%, but all other major markets declined apart from Australia which was flat. The steepest falls were in China (-5.2%) and Japan (-3.8%), with higher fuel prices the likely reason. These markets also saw load factors decline, but the largest decrease in load factor was in Brazil (-2.5 ppt).

View the June 2026 Air Passenger Market Analysis (pdf)

 

Global oil prices take a bite in St Lucia’s 2026/27 budget forecast

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Global oil prices take a bite in St Lucia’s 2026/27 budget forecast

By Caribbean News Global

CASTRIES, St Lucia – The Office of the Prime Minister (OPM) July 28, 2026, press release advised that “government’s efforts to limit the cost of fuel and Liquefied Petroleum Gas (LPG) have had a combined EC$44.9 million impact on the public finances since the start of the financial year on April 1, 2026. Prime Minister Philip J. Pierre stated that the government has collected EC$39.2 million less in fuel excise tax and spent EC$5.7 million subsidising cooking gas during the period.”

In economic terms, there is currently a combined negative impact on Saint Lucia’s 2026/27 budget forecast. Read St Lucia’s XCD 2.18 billion 2026/27 budget not designed to look good on paper, says OPM.

St Lucia’s XCD 2.18 billion 2026/27 budget not designed to look good on paper, says OPM

The OPM press release noted that “government cannot control international oil prices or the events which cause them to rise. It can, however, limit the effect on consumers through the taxes it collects and the subsidies it provides.”

“In keeping with the modified fuel price pass-through mechanism, the government of Saint Lucia has maintained the retail prices of fuel and Liquefied Petroleum Gas (LPG) products for the period July 13 to August 2, 2026. Gasoline and diesel will remain at $16.75 per imperial gallon ($3.68 per litre), while kerosene will remain at $10.41 per imperial gallon ($2.29 per litre).

What does a combined negative impact on government revenue mean?

“Together, these measures have had an impact of $44.9 million on the public finances. “This is concerning, but we have taken these decisions to reduce the burden on the people of Saint Lucia,” Prime Minister Pierre said.

Saint Lucia outperformed its fiscal targets for the 2025/2026 financial year, posting a revised current surplus of $243.6 million, a recurrent surplus of $114.8 million, and a primary surplus of $90.1 million. However, the government of Saint Lucia has to attend more vigorously to cost control measures in an effort to regain financial ground and fiscal stability. Moreover, a concerted effort should be ongoing to revisit cost centres and allocations, and to mitigate deficit expenditure, says a regional economist.

Echoes on St Lucians

As noted previously, the government of Saint Lucia continues to face challenges in the collection of Value Added Tax (VAT) paid by consumers in trust to businesses, for onward remittance to the government.

    • The war in the Middle East is a new reality that is impacting globally. It mimics COVID-19, commercial actualities. Immediately surfacing are affordability and ongoing inflation, as well as the diversity of efforts that will be required to support families and communities.

“Saint Lucia continues to be ravaged by the downside of crime and lawlessness.” […] “US media advisory, and a troubling health care sector are major concerns, in addition to Saint Lucia continuing to stimulate Citizenship by Investment (CIP) – a dead donkey, following the UK visa ban, while the EU contemplates – what’s next: End CBI by June 2028 or risk Schengen access, EU instructs Caribbean Islands CIP/CBI.

The concerns?

The 2026/2027 budget seeks to undertake approximately 31 measures: The Government of Saint Lucia 2026-2027 budget undertakings.

“For this 2026-2027 budget, we will work towards strengthening our resilience, improving productivity and efficiency in the provision of government services, will achieve these based on three major pillars,” says Prime Minister Philip J. Pierre.

“One, reduce unnecessary expenditure and build efficiencies in government operations. Two, consolidate the gains that we have made in health care, public assistance, education, youth development and the economy.

“And as we build efficiencies, we’ll find the space to focus on medium- to long-term plans that will improve the economic well-being of our people.” ~ St Lucia budget 2026/27: Laying a strong foundation for sustainable economic growth and national development – Part 2.

Statistical surplus

“By collecting less tax on fuel and covering part of the cost of cooking gas, government helps to keep prices below what consumers would otherwise pay. In some cases, government covers [a] more than half of the actual cost of the 20-pound and 22-pound cooking-gas cylinders,” the OPM continued. “The pressure comes amid increases in international oil prices linked to the conflict involving Iran and uncertainty surrounding major oil-shipping routes. Despite the financial pressure, the government will keep fuel prices unchanged during the next pricing cycle.”

Prime Minister Pierre has also assured Saint Lucians that sound fiscal management will allow the government to continue delivering on the promises made in the 2026/2027 budget.

It is well established that Saint Lucia is very reliant on borrowing to finance its budgetary basic needs. The measure of ‘surplus’ and ‘excess liquidity’ makes for good revision.

Current government revenue reduction “from the excise tax on fuel and the cost of subsidising cooking gas” is not sustainable. It needs a policy and market-oriented re-work. Notwithstanding the financial impact, the government will keep fuel prices unchanged during the next pricing cycle scheduled for August 3, 2026.

“By maintaining these support measures, the government continues to shield households and businesses from the impact of volatility in international energy prices while helping to keep cooking gas affordable,” says the OPM.

Related: With the Hormuz Strait Set to Reopen, What’s Next for Oil Prices?

Central Bank of Barbados reviews Barbados’ economy – January – June 2026

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Central Bank of Barbados reviews Barbados’ economy – January – June 2026

By Central Bank of Barbados

BRIDGETOWN, Barbados – Governor Kevin Greenidge delivers the Central Bank of Barbados’ review of Barbados’ economic performance in the first half of 2026.

The review provides an update on key economic indicators, including economic growth, the debt-to-GDP ratio, inflation, the unemployment rate, and the level of international reserves, as well as information about the government’s performance in the first three months of the fiscal year 2026/27 (April to June 2026).

Governor Greenidge also gives his outlook for the economy for the remainder of 2026 and takes questions from the media and members of the public.

 

Guyana explores partnership to develop future power infrastructure projects

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Guyana explores partnership to develop future power infrastructure projects

GEORGETOWN, Guyana, (DPI) – Guyana is establishing a framework to identify, evaluate, and develop potential power-sector infrastructure projects through a new partnership between the Guyana Power and Light Inc (GPL) and Pacific and Auro Power Inc.

The initiative was formalised on Tuesday, with the signing of a non-binding memorandum of understanding (MoU) by GPL’s Head of the Executive Management Committee, Kesh Nandlall.

The agreement provides a non-exclusive framework for collaboration but does not commit either party to finance or undertake any specific project. Instead, the MoU outlines a process through which the two parties will jointly identify priority projects, assess their feasibility and develop formal proposals for future consideration.

Areas identified for collaboration include transmission and distribution infrastructure, substations, power generation, renewable energy, battery energy storage systems and grid modernisation initiatives.

Under the agreement, each proposed project will be assessed on its individual merits and remain subject to the necessary technical, commercial, financial, regulatory and corporate approvals before implementation.

Additionally, the MoU makes it clear that neither party is obligated to proceed with any project unless a separate definitive agreement is signed.

The collaboration reflects GPL’s commitment to pursuing strategic partnerships that support the expansion and modernisation of Guyana’s electricity infrastructure.

It also aligns with the government’s broader objective of strengthening the country’s electricity network through sustainable investments that enhance resilience and support long-term economic growth.

Hunger hampers Ebola response as cases top 3,200 in DR Congo

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Hunger hampers Ebola response as cases top 3,200 in DR Congo

Democratic Republic of the Congo (DRC) – The UN emergency food agency appealed for immediate funding on Wednesday, warning that deepening hunger is undermining the response to an Ebola outbreak in the Democratic Republic of the Congo (DRC) that has now infected more than 3,200 people.

“Ebola feeds on delay, fear and hunger,” said Carl Skau, acting executive director of the World Food Programme (WFP). “Stopping this outbreak requires all hands on deck and communities at the centre.”

Declared in eastern DRC on 15 May, the Ebola outbreak is the fastest growing on record. Full-blown Ebola caused by the Bundibugyo virus is marked by severe bleeding and a fatality rate of around 40 percent.

What you need to know

  • This is the largest Ebola outbreak caused by the Bundibugyo virus to date, according to the latest update from the World Health Organization (WHO);
  • 48 health zones across five provinces in eastern DRC are affected: Ituri, North Kivu, South Kivu, Tshopo and Haut-Uele;
  • Ituri, the outbreak’s epicentre, remains one of the country’s most severe hunger hotspots, with 1.9 million people facing crisis levels of food insecurity or worse;
  • More than 2.65 million people in the 48 Ebola-affected health zones face acute food insecurity, including more than 628,000 people in emergency conditions, according to the UN-backed global monitor Integrated Food Security Phase Classification (IPC).

‘Food is frontline Ebola containment’

The UN World Food Programme (WFP) issued a stark warning that food assistance and logistics are critical to containing the outbreak.

“Food assistance is frontline Ebola containment,” Skau said. “It helps families stay home, supports safe isolation, builds trust with communities and keeps health teams moving. We know what works. What we need now is the speed and resources to scale it before this outbreak outruns the response.”

Such efforts also help reduce movement of people in search of food, supports safe isolation, lowers the risk of harmful coping strategies and creates the social conditions for health actors to operate safely and effectively, the agency said.

What’s the UN doing?

The UN is actively helping authorities respond to the outbreak, including through its food agency, WHO and its children’s fund, UNICEF.

Here are highlights of some WFP efforts in DRC:

  • Since the onset of the outbreak, the agency’s UN Humanitarian Air Service (UNHAS) has operated 495 flights, transported 3,395 humanitarian responders and delivered 56 metric tonnes of essential cargo to frontline locations, including newly affected provinces such as Haut-Uele and Tshopo;
  • WFP has delivered more than 160,000 hot meals to patients, contacts and frontline workers in 17 treatment and isolation centres;
  • WFP has also provided dry food rations to 23,000 people in North Kivu, South Kivu and Ituri, including 14,000 people under quarantine with monthly food assistance;
  • An additional 36,000 people in Ebola-affected zones have been reached with general food assistance.

Challenges ahead

Speed and resources are the main challenges, and every delay gives Ebola more room to spread, while gaps in logistics, food assistance and community support risk weakening containment efforts, according to WFP.

At the same time, insecurity, access constraints, community unrest and limited operational capacity in newly affected areas continue to complicate surveillance, supply movements and response scale up.

To sustain all operations in DRC for the next six months, WFP requires $293.6 million, which includes funding emergency logistics and food assistance in Ituri and other affected areas.

Learn more about the UN Ebola response here.

UNICEF – Caribbean Community Climate Change Centre strengthen partnership to advance Child-Centered Climate Action across the Caribbean

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UNICEF – Caribbean Community Climate Change Centre strengthen partnership to advance Child-Centered Climate Action across the Caribbean

BELMOPAN, Belize — The United Nations Children’s Fund (UNICEF) and the Caribbean Community Climate Change Centre (CCCCC) have signed a Memorandum of Understanding (MoU) that will strengthen collaboration to protect children’s rights and well-being in the face of the growing impacts of climate change across the Caribbean.

The five-year partnership establishes a framework for joint action to integrate child-sensitive climate policies, build resilient social services, strengthen climate adaptation and disaster risk reduction efforts, and empower young people to participate meaningfully in climate action and decision-making.

Children in the Caribbean are increasingly affected by climate-related hazards, including hurricanes, flooding, droughts, extreme heat and environmental degradation. These impacts threaten access to education, healthcare, safe water and sanitation, nutrition and protection services. Through this partnership, UNICEF and CCCCC will work together to ensure that climate responses better reflect and address the unique vulnerabilities and needs of children and young people.

“Climate change is not only an environmental challenge; it is a child rights challenge,” said UNICEF Representative Sajid Ali. “Children are among those least responsible for the climate crisis yet they bear some of its greatest consequences. This partnership with the Caribbean Community Climate Change Centre will help ensure that climate policies, investments and programmes across the region put children at the center and strengthen the services and systems they rely on every day.”

Under the agreement, the two organisations will collaborate to strengthen child-sensitive climate governance, support climate-resilient education, health, nutrition, water, sanitation and hygiene (WASH) systems, and promote child-responsive social protection and disaster preparedness measures. They will also work together to generate evidence, mobilise resources, and expand knowledge on effective approaches to climate resilience that benefit children and communities.

Dr Colin Young, executive director of the Caribbean Community Climate Change Centre, welcomed the partnership, noting that regional climate action must consider the needs and perspectives of future generations.

“It is a well-known fact that children and youth have not been a central focus of climate resilience programming, either regionally or globally. UNICEF brings a tremendous track record of advocating the rights of children and ensuring they are at the heart of climate resilience efforts. This aligns with the CCCCC’s strategy, and it is an area where we recognise the need for greater strategic focus and stronger partnerships for action.

This Memorandum of Understanding sets out the framework for the work we will do together and allows us to combine our expertise to ensure that children are at the heart of climate action. We are absolutely delighted to be partnering with UNICEF and to draw on its extensive experience working with children and youth across the Caribbean and in Belize.”

A key area of collaboration will focus on strengthening climate-resilient safely managed sanitation services throughout the Caribbean. Drawing on UNICEF’s global and regional expertise in sanitation, the partnership will support evidence-based advocacy, capacity development, knowledge-sharing and climate financing initiatives to improve sanitation systems and resilience, particularly in climate-vulnerable communities.

The partnership will also place a strong emphasis on youth engagement, supporting children and young people, including adolescent girls and marginalised groups, to develop the knowledge, skills and leadership needed to contribute to climate solutions, policy dialogue and advocacy at national and regional levels.

By combining UNICEF’s mandate to advance and protect children’s rights with CCCCC’s leadership in coordinating regional climate action, the two organisations aim to accelerate progress toward a more resilient, sustainable and equitable Caribbean where every child can survive, thrive and realise their full potential despite the challenges posed by climate change.

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