• OMNI Industries Limited (OMNI) reported a net profit of $56.87Mn for the second quarter ended June 30, 2026 (Q2 2026). This 9.9% increase relative to Q2 2025 was due to rising revenues, which outweighed expense growth.
• Q2 revenue increased 23.2% to $637.21Mn. This was largely attributed to continued strong demand for building materials as reconstruction activity following Hurricane Melissa. This was a tailwind for its construction segment, which accounted for 57% of revenue.
• However, cost of sales climbed faster to $378.27Mn (+28.9%), meaning gross profit rose 15.6% to $258.94Mn, and the gross margin narrowed to 40.6% from 43.3%. Management linked the input cost pressure to sourcing raw materials from alternative suppliers to work around shipping delays, cancellations and higher freight costs.
• Operating expenses increased 16.9% to $200.98Mn. Factory expenses led the rise, up 38.7% to $82.52Mn on higher haulage costs and depreciation from recently commissioned machinery. Administrative expenses edged up 3.3% to $74.10Mn, and selling expenses rose 9.0% to $44.36Mn. As a result, operating profit grew 9.9% to $66.03Mn, and operating margins tightened from 11.6% to 10.4%.
• With net finance costs up 9.8% to $9.16Mn and the company still exempt from income tax until June 2029 under its Junior Market incentives, net profits kept pace with operating profit growth.
• While more modest than its post-Melissa blowout in Q1 2026 (+179.7%), OMNI’s Q2 results still helped achieve a 73.6% increase in 6M earnings to $142.55Mn.
• Looking ahead, management is leaning on proactive cost management, supplier renegotiation, disciplined procurement and inventory optimisation to defend margins. The company also expects reconstruction-linked demand to remain supportive. However, risks sit in expense management and in working capital. Fuel prices, geopolitical instability. Disrupted shipping routes continue to lift input and freight costs faster than selling prices, while the sizeable inventory build and thinner cash position leave the Group exposed should rebuild demand normalise sooner than expected.
• Ince the start of the year, OMNI’s share price declined by 2.0%. At this price, the stock trades at a P/E of 11.8x, which is below the Junior Market Distribution sector average of 17.7x.

(Sources: OMNI Industries Limited Unaudited Financial Statements & NCBCM Research)

• Business leaders in central and south Trinidad were unanimous in their views that the refurbishment and refashioning of the steel plant on the Point Lisas Industrial Estate would be a significant boost to the economy of the region, by generating new jobs and foreign exchange.
• Ibis Steel Company of Trinidad and Tobago hosted a ribbon-cutting ceremony on the site of the ArcelorMittal plant, which shut down in March 2016. Ibis Steel is a subsidiary of US-based metals and industrial investment company Pinnacle Steel and Vanadium Corporation. In opening remarks, Pinnacle’s chief executive officer, Edwin Bennett, said the company’s initial investment is planned at US$250 million, and it proposes to create 350 jobs during the restart of the facility and 500 full-time jobs.
• “After an expansion in the future, we plan to spend another US$500 million dollars and double the number of jobs to 1,000,” said Bennett, adding that the company is planning first production by the end of 2027.
• President of the Chaguanas Chamber of Industry and Commerce, Baldath Maharaj described the development as a major win for central Trinidad and by extension, the wider economy. “For one, that will generate much-needed foreign exchange and boost non-energy exports. But just as important, that will also bring solid jobs back to the Point Lisas Industrial Estate. And when people start working, the confidence returns, spending power goes up, and the local businesses right here in Point Lisas and Chaguanas benefit from that ripple effect,” Maharaj said.
• President of the Couva/Point Lisas Chamber of Commerce and acting president of the Point Lisas Industrial Port Development Corporation (Plipdeco) Deoraj Mahase said the refurbishment of the plant and the start of production will have a multiplier effect on the fenceline and national communities. Meanwhile, President of the Greater San Fernando Area Chamber of Commerce Kiran Singh said the development could be pivotal in addressing recent concerns about unemployment and the downstream industry of the energy sector.
• Vanadium is a metal that is much in demand in the US and the EU for the aerospace industry, for batteries, and for the steel industry. “Our vision is to produce the equivalent of 50 per cent of American consumption of vanadium. In other words, 100 per cent of the quantity of vanadium that the United States imports,” said Bennet.

(Source: Trinidad & Tobago Guardian)

• China's central bank said on Wednesday it would maintain an appropriately loose monetary stance and roll ​out practical, effective measures as needed, but stopped short ‌of signalling explicit cuts to policy rates or banks' reserve-requirement ratio.
• The People's Bank of China will make full use of existing policies, promptly plan ​and roll out additional measures, step up counter-cyclical adjustment, ​and intensify efforts to expand domestic demand, the central ⁠bank said in its quarterly monetary policy implementation report.
• The central ​bank will strengthen monetary policy's coordination with fiscal policy to support economic ​growth and the stable operations of the financial market, it said. "The foundation for the economy's steady, positive momentum still needs to be consolidated," the ​central bank said.
• The global environment remains complex and ​volatile, with weak global growth, slowing trade, and imported inflation pressures pushing up ‌prices in many countries. At home, China still faces an imbalance between strong supply and weak demand, as new challenges compound longstanding problems, it said.
• China's leaders pledged at a July meeting ​to support the ​slowing economy by ⁠accelerating fiscal spending on already-budgeted infrastructure projects in the second half, rather than rolling out ​major new stimulus measures.
• Second-quarter growth slowed to ​4.3%, ⁠the weakest pace in more than three years and below the bottom end of the government's 4.5%–5.0% full-year target range. Still, a ⁠stronger-than-expected ​start to the year has given ​Beijing room to avoid a more forceful policy response, analysts say.

(Source: Reuters)

• Ship traffic through the Strait of Hormuz is near a three-month low as doubt grows that the U.S. and Iran will reach an agreement to fully open the key Middle East oil export corridor.
• Vessel transits sat at a five-day average of around 13 on Tuesday, nearly the lowest level since May 12, according to a CNBC analysis of data provided by the trade intelligence firm Kpler. This includes ships of all types, from cargo vessels to oil tankers.
• Traffic is about 90% lower than the daily average of 130 ships that transited Hormuz before the U.S. and Israel attacked Iran on Feb. 28. However, Energy Secretary Chris Wright said Tuesday that oil exports through Hormuz have reached a seven-day average of nearly 9 million barrels per day as tankers transit the strait with U.S. military assistance. A single supertanker can carry about 2 million barrels.
• Total oil exports from the Gulf states are averaging about 15 million bpd when pipelines are included, Wright said. Before the war, about 20 million bpd of crude oil and products were exported through Hormuz.
• Iran’s top national security official Mohsen Rezaei said Tuesday that Hormuz will not open fully until Washington agrees to Tehran’s demands, according to the state news outlet PressTV.
• A week ago, Treasury Secretary Scott Bessent told CNBC that a deal could come soon to open Hormuz with freedom of movement for ships. Bessent’s comments helped drive an oil sell-off last week, but an agreement between the U.S. and Iran still has not materialised.

(Source: CNBC)

• For the first quarter ended June 30, 2026 (Q1 2026), LASCO Financial Services Limited (LASF) reported net profit of $45.55Mn, up 12.4% from $40.52Mn in the corresponding period of 2025. The improvement came as lower finance costs and a reduced tax charge more than offset a decline in operating profit.
• Total income rose 3.2% to $573.07Mn from $555.49Mn. Core income advanced 6.2% to $540.25Mn, supported by higher remittance transaction volumes and expanding digital financial services activity, including stronger contributions from the Group's e-commerce offering. Other income, however, fell 29.5% to $32.82Mn, tempering overall topline performance. Lending income was constrained by lower disbursement levels in the latter part of FY2025 and into the first quarter.
• Operating Expenses (OPEX) increased 5.0% to $493.77Mn, which management characterised as broadly in line with inflation. Administrative and other expenses were essentially flat at $281.93Mn, while selling and promotion expenses climbed 12.3% to $211.84Mn. With OPEX outpacing revenues, operating profit declined 7.1% to $79.30Mn. However, a 31.4% fall in finance costs to $15.95Mn on scheduled debt repayment and a 17.5% dip in taxation to $17.80Mn offset the operating profit decline.
• Looking ahead, management continues to invest in digital infrastructure to support remittance services and the LASCO Gold Visa Prepaid Card, while intensifying efforts to build a more differentiated presence in the microcredit market. However, LASF faces risks concentrated in the lending book and the cost line. Hurricane-affected customers are still being regularised, disbursement levels remain subdued, and selling and promotion spend is growing well ahead of income, leaving operating profit exposed should the finance cost and tax tailwinds fade.
• LASF’s share price declined by 15.6% year-to-date to close at 1.52 on August 11^th. At this price, the stock trades at a P/B of 0.79x, which is below the Junior Market Financial sector average of 1.36x.

(Sources: LASCO Financial Services Limited Unaudited Financial Statements & NCBCM Research)

• Massy Holdings (MASSY) Limited delivered weaker earnings in Q3 FY2026. Despite continued revenue growth, Q3 2026 declined 32.4% YoY to TT$112.96Mn, weighed down by softer operating profitability and a sizeable TT$44.15Mn loss on the sale of discontinued operations.
• Revenue increased 5.6% to TT$4.14Bn, although underlying conditions were mixed across Massy’s portfolio. Motors & Machines remained a bright spot, up 16.0% supported by strong revenue growth and improved profitability, particularly in Colombia. The Integrated Retail Portfolio is up 5.0% but continued to face challenges in Barbados and the United States. Meanwhile, the Gas Products Portfolio (+2.0%) was affected by softer Jamaican operations following Hurricane Melissa. These pressures, alongside ongoing investments in technology and operational improvements, are likely to keep near-term revenue growth tempered.
• That said, profitability from continuing operations came under pressure, with operating profit after finance costs declining 23.5% YoY to TT$188.14Mn. While the financials didn’t display a breakout, it suggests that the combined effects of direct, operating and finance expenses grew by 7.6% to TT$3.95Mn. Management, however, attributed the decline to transformation investments in technology, safety and financial processes and controls, alongside the temporary impact of Hurricane Melissa on Jamaica.
• Profit before tax fell 23.9% to TT$192.70Mn and TT$74.17Mn in taxes meant profit from continuing operations declined 27.9% to TT$118.53Mn.
• The quarter was further impacted by the disposal of Massy Distribution (Jamaica) Limited, which resulted in the TT$44.15Mn loss on sale recorded under discontinued operations. The transaction forms part of Massy’s strategy to concentrate capital in businesses where it sees stronger long-term returns. Still, the disposal-related charge largely reflected the reclassification of accumulated foreign-currency translation losses rather than a current cash outflow.
• Massy’s weaker Q3 performance added further earnings pressure that started in Q2. Consequently, while 9M revenue increased 6.8% YoY to TT$12.65Bn, profit from continuing operations declined 7.5% to TT$490.79Mn. Including a TT$109.75Mn loss on the disposal of Massy Distribution (Jamaica) in Q2, 9M net profit is down 31.9% to TT$370.00Mn. Management notes that excluding these one-off items, pre-tax earnings would have exceeded the prior-year period, pointing to greater resilience in its core operations than the headline profit decline suggests.
• Entering the final quarter of FY2026, management expects Jamaica's post-Melissa recovery to support a rebound in profitability early in the next financial year. Currently, the company is prioritising cash conversion, inventory productivity and turnaround plans in underperforming markets. Moreover, capacity investments remain important and is evidenced by the new Orange Grove facility in Trinidad & Tobago and the planned Massy Hub at Houston, Guyana. However, Geopolitical uncertainty, shifting trade and regulatory policy, inflation, foreign-exchange constraints and uneven consumer demand persist across the Group's markets. In addition, the near-term earnings drag from transformation spending will continue until it converts into measurable efficiency gains.

• MASSY’s share price has declined by 4.6% to $72.44. At this price, the stock trades at a P/E of 10.9x, which is below the Main Market Conglomerate sector average of 11.8x.

(Sources: Massy Holdings Ltd. Unaudited Consolidated Financial Statements & NCBCM Research)

• The Dominican Republic welcomed a record 7,700,118 visitors during the first seven months of 2026, the highest January–July total ever recorded for the country’s tourism sector, Tourism Minister David Collado announced.
• According to the Ministry of Tourism, the total represents a 7% increase compared with the same period in 2025. Between January and July, the country received 5,885,259 tourists by air and 1,814,859 cruise passengers, setting a new benchmark for international visitor arrivals. In July 2026 alone, the Dominican Republic welcomed 1,083,448 visitors, up 2.9% year over year. Of that total, 921,718 arrived by air, while 161,730 arrived on cruise ships.
• The United States remained the country’s largest tourism market, accounting for 48% of all July arrivals. It was followed by Canada (7%), Argentina and Colombia (6% each), Puerto Rico (5%), Mexico and the United Kingdom (3% each), and Spain (2%).
• Punta Cana International Airport continued to be the country’s main tourism gateway, handling 58% of July’s incoming flights. It was followed by Las Américas International Airport (24%), Cibao International Airport (13%), Puerto Plata (3%), and La Romana and Samaná airports with 1% each.
• Collado also highlighted the destination’s strong visitor experience. Hotels posted an average 76% occupancy rate in July, while travellers rated their overall satisfaction at 4.4 out of 5. The survey also found that 91% of visitors said they would return to the Dominican Republic, and 59% said they would recommend the destination, reinforcing the country’s position as one of the Caribbean’s fastest-growing tourism destinations
• While the Dominican Republic continues to record strong growth in visitor arrivals, Jamaica is showing a markedly weaker performance, with visitor traffic through its two main gateways declining during the first months of the year. Sangster International Airport, the country’s primary tourism gateway, has experienced a significant 26.7% decline in visitor arrivals, while Norman Manley International Airport in Kingston has recorded a more modest 2.23% contraction.

(Source: Dominican Today & NCBCM Research)

• The Inter-American Development Bank (IDB), in its recently published Caribbean Economics Quarterly Bulletin for August 2026, said government debt in The Bahamas declined to 73.2 per cent of GDP as of March, and is on a “declining path”.
• Government debt declined from a peak of 91 per cent of GDP in FY2020/2021 to 74 percent in FY2024/2025. The International Monetary Fund (IMF) expects it to fall to 72% this fiscal year (FY2025/2026) and reach 62% in FY2030/2031, assuming that GDP growth converges toward 1.5% through 2027–2030,” the report said.
• While the trajectory is firmly downward, debt remains slightly above the Latin American and Caribbean average of 73% of GDP and above pre-COVID levels, limiting the fiscal space to absorb a severe and prolonged external shock.
• Interest payments reached 4.1% of GDP in FY2024/2025 but are estimated to decrease to 3.9% of GDP by FY2027/2028 as deficit reduction, concessional financing, and improved market access, signalled by sovereign credit upgrades, translate into more favourable refinancing conditions.
• The IDB also pointed to the fuel hedging strategy employed by Bahamas Power and Light at the end of 2025 as an effective cost-saving strategy, while noting that prudent risk-sharing policies have paid off. In December 2025, two months before the Iran conflict escalated, BPL locked in approximately 2.5 million barrels of fuel oil at US$65 per barrel. This provides 365 days of protection through calendar year 2026 at a time when Brent crude prices averaged US$100 per barrel for three months, and remained well above US$70 for most of the first half of 2026
• The hedge decouples domestic electricity tariffs from global spot prices, shielding households, hotels, and businesses from energy-driven cost pressures. Fuel costs represent approximately 74 per cent of total consumer electricity bills in The Bahamas, making the hedge’s coverage directly consequential for disposable income and operating margins.
• As a result, The Bahamas is projected to save US$43Mn (0.25% of GDP) with respect to expected post-shock bills using IMF oil price forecasts.
• However, the hedge will only provide electricity price insulation through the end of calendar year 2026. If Brent crude oil prices remain above US$65, the full cost adjustment will hit in 2027 unless the hedge is renewed and widened.
• Therefore, the fiscal and tourism competitiveness implications of the expiration of the hedge without a successor strategy represent the most significant medium-term risk.

(Source: The Nassau Guardian)

• The U.S. and Yemen’s Iran-aligned Houthis reported separate attacks on shipping as prospects for ending the Iran war weakened. The incidents affected the Gulf of Oman near the Strait of Hormuz and the Bab el-Mandeb Strait at the Red Sea entrance, two key routes for global energy shipments.
• Oil prices rose as traders grew more worried about prolonged disruption. Brent crude climbed 1.4% to $88.91 per barrel, while U.S. crude gained 1.3% to $83.20, and global shares retreated amid broader market unease.
• A suspected Houthi attack on the Egyptian-owned cargo vessel Tihamah killed four crew members in the Bab el-Mandeb Strait. Yemen’s Coast Guard said two Yemeni rescuers were also killed, making the incident the first reported shipping fatalities tied to Houthi attacks since the Iran war began.
• The Houthis also claimed they attacked a Saudi ship carrying military equipment after previously threatening a naval blockade on Saudi Arabia in the Red Sea. The ship was not named, Saudi Arabia did not immediately respond, and the claim heightened fears that attacks on commercial and military-linked vessels could expand.
• The U.S. military said a Navy helicopter fired two Hellfire missiles to disable a Panama-flagged cargo ship that allegedly ignored warnings while violating a naval blockade on Iranian ports. Maritime sources said the ship was hit off Pakistan while heading into the Gulf of Oman. Iranian security official Mohsen Rezaei said the Strait of Hormuz would remain closed unless Washington accepts Tehran’s conditions, including releasing frozen Iranian assets and ending regional conflicts.
• President Donald Trump warned of harsher U.S. action while also suggesting the conflict could drag on, reinforcing concerns that shipping disruptions may persist.

(Source: Reuters)

• US consumer prices cooled slightly in July as the annualised inflation rate dipped to 3.4%, though prices still remain higher than levels seen before the war with Iran. Though inflation decreased 0.7% in June during a brief ceasefire between the US and Iran that brought energy prices down, consumer prices have remained elevated. Price increases hit a three-year high in May, with annual inflation reaching 4.2%.
• Core inflation, a key measure that excludes volatile energy and food prices, increased slightly to 2.5% compared to last year and increased at a modest 0.2% since last month. The overall index for food and services, including shelter, transportation and medical care, rose 3% each compared to last year, though grocery prices fell slightly. The price of lettuce fell 16% over the last year as it continues to be linked to the cyclosporiasis outbreak.
• The energy index declined slightly from the previous month, with gasoline falling nearly 3% over the last month, but still sitting about 15% higher than the year before. Brent crude, the international benchmark for oil prices, dipped in June when the US and Iran reached a peace agreement. Prices then rose again when that deal collapsed in July.
• Energy prices are still far lower than their peak in late April but remain above prewar levels. Gas at the pump is an average $4 a gallon in the US, according to the AAA, more than $0.85 from a year ago. Meanwhile, the latest negotiations to end the war in the Middle East and reopen the Strait of Hormuz, a vital waterway through which a fifth of the world’s oil passes through, have reached an impasse. Donald Trump has said that Iran must agree to compensate for the past deaths of American soldiers and Iranian civilians in order to reach a deal. Iran’s leaders are unlikely to agree to those demands.
• Despite ongoing economic instability, the latest inflation data is likely to ease pressure on the Fed to raise rates. The Fed chair, Kevin Warsh, has vowed to deliver price stability and bring inflation to the Fed’s target of 2%. Typically, the central bank fights inflation by raising rates and addresses unemployment by lowering them.
• Warsh also appeared open to other options. During the Fed’s last meeting, he said that while interest rates could be part of the solution, it would not be used “in isolation”. Warsh has also emphasised that he doesn’t want the central bank to make decisions based on single monthly reports.
• However, some bank presidents have been amplifying calls for rate hikes. Lorie Logan, one of the three bank presidents who dissented in the July meeting, argued that inflation does not appear to be moving toward the Fed’s target.

(Source: The Guardian)