• Britain's economy barely expanded in the third quarter of 2025 (Q3 2025), held back by September's cyberattack on Jaguar Land Rover (JLR), according to data on Thursday, November 13, 2025, that underlined the backdrop of slow growth as finance minister Rachel Reeves readies her budget.
• The economy grew 0.1% in Q3 2025, the Office for National Statistics (ONS) noted, slowing from a growth of 0.3% in Q2. Economists polled by Reuters, as well as the Bank of England, had forecast 0.2% growth in GDP for the July-September period. In September alone, the economy contracted by 0.1%, against expectations for a flat reading.
• The ONS reported a 28.6% collapse in the production of motor vehicles in September, the biggest drop since April 2020 during the onset of the COVID-19 pandemic. Overall, motor vehicles subtracted 0.17 percentage points from GDP growth in September alone and 0.06 percentage points for the third quarter as a whole.
• JLR, owned by India's Tata Motors, has three factories in Britain, which together produce about 1,000 cars per day. The hack cost the British economy an estimated 1.9 billion pounds (US$2.55Bn) and affected over 5,000 organisations, an independent cybersecurity body said in a report published last month.
• That said, given the minute increase in Q3 2025’s GDP, investors further ramped up bets that the Bank of England will cut interest rates next month, now seen as a roughly 82% chance from a 60% chance earlier this week, according to market pricing. The pound rose modestly against the dollar after the data.
• The readings are unlikely to sway deliberations around Reeves' November 26 budget, with the economy still growing tepidly despite the government's intention to "kickstart" it. "The UK's unrelentingly sluggish growth trajectory is a headache for the Chancellor (finance minister) as it will inevitably mean a substantial fiscal shortfall at the budget, making major tax hikes look unavoidable," said Suren Thiru, economics director at the ICAEW trade body for chartered accountants.

(Source: Reuters)

• With the devastation wrought by Hurricane Melissa in Western Jamaica, which severely impacted the top 3 parishes for agricultural produce, food production and availability is expected to be stymied with scarcity driving up prices. In response to this, the Rural Agricultural Development Authority (RADA) is urging persons in eastern Jamaica to increase agricultural output to help protect the island’s food security.
• Senior Plant Health and Food Safety Officer with RADA, Francine Webb, said increased production in the east by householders, backyard gardeners and the average citizen is absolutely critical at this time.
• Ms. Webb said an all-hands-on-deck approach is needed by each Jamaican to bolster food security at this time. She explained that “The call is now on the east to step up. We’re going to have to be a bit more efficient. Output from that same plot of land has to increase, the productivity has to go up while we give the west the time to get their lives back together in terms of their housing and bringing the farms back up.”
• Data from the Agriculture, Fisheries and Mining Ministry reveal that damage to agricultural crops and livestock is estimated at J$29.5Bn, with approximately 41,390 hectares of farmland affected and the devastation impacting more than 70,000 farmers. Livestock farmers have also lost approximately 1,251,410 animals, including small ruminants, poultry and cattle, including 50% of the nation’s laying flocks.
• However, the Ministry noted that it is moving fast to stabilise supply and restart production quickly. So far, there has been J$350Mn mobilised immediately for recovery, which is part of a larger J$3Bn long-term plan. Meanwhile, there will also be temporary food imports such as eggs and vegetables to keep prices affordable.
• The government is also providing the materials and support needed to restore fields and herds immediately. There has been distribution of J$40Mn in free seeds and all planting materials will be free for three months. Another J$40Mn has been allocated for urgent poultry sector revitalisation and finally, the government is offering free land preparation for the next six months via RADA.

(Source: JIS, Ministry Agriculture Fisheries and Mining)

• The Jamaica Public Service Company (JPS) is reporting that electricity has been restored for approximately 300,000 customers, representing 64.0% of its service base across sections of the island, in the aftermath of Hurricane Melissa.
• “This is a solid milestone, given the scale of destruction that we have all seen,” stated President and Chief Executive Officer (CEO), Hugh Grant, while providing an update on the restoration process during a press conference at Jamaica House on Tuesday (November 11).
• Mr. Grant reported that electricity has already been restored for more than 95.0% of customers in St. Thomas, Kingston, St. Andrew, and St. Catherine. “Right now, we’re working on the unique challenges of various customers to facilitate restoration. The good news is, there is no widespread community in these areas that are currently impacted,” he said.
• Steady progress is underway in Clarendon, Manchester, Portland, St. Mary, and St. Ann, with the restoration of critical services, including hospitals, water pumps, town centres, and key economic zones. “In St. Ann, we’re able to restore power to St. Ann’s Bay Hospital, we’re able to restore power to Ocho Rios Pier, Dunn’s River, to Ocho Rios town, also to the infirmary in Priory. This strategic restoration is not by chance; it’s intentional and aligns with our overall restoration strategy,” he said.
• However, given the scale of devastation in the western parishes, he noted that “this is much more than repair and restore – it is a redesign and rebuild of our facilities”. He also stated that landslides have caused poles and other infrastructure to be significantly damaged. As a result, rerouting some of its facilities and redesigning them to facilitate restoration needs to take place.
• The CEO indicated that power is expected to be restored in Trelawny within the week, and in Hanover and Westmoreland over the next two weeks. “We will have power in Falmouth town, Falmouth Hospital and also the pier, whereby we’re supporting the return of cruise ships to that particular pier,” he said.
• Regarding St. Elizabeth, Mr. Grant advised that power has been restored to Junction, Southfield, and several surrounding communities. “We did this by doing some creative things on the distribution system to facilitate St. Elizabeth being supplied from Manchester. There is, however, a limitation to that as we have built out in St. Elizabeth to a stage now whereby, to go further, we would need the critical high-voltage transmission to be restored. That has been significantly damaged; however, we continue to work,” he said.

(Source: JIS)

• Barbados is ramping up efforts to attract British investment in renewable energy, space technology and the creative industries, positioning itself as a hub for emerging industries as global economic partnerships evolve. Delivering the keynote speech at the sixth annual UK Trade Mission to Barbados Business Forum, Minister of Economic Affairs and Investment Kay McConney said that Barbados continues to attract diverse interest from British investors, extending beyond traditional sectors such as tourism and financial services.
• Citing World Bank data, McConney said demand for investment in energy across developing countries is expected to double by 2035. The growing interest from UK businesses reflects strong confidence in Barbados’ economy, which has now recorded 17 consecutive quarters of growth, according to the Central Bank’s September 2025 report, the minister said.
• Several steps have been taken by Bridgetown to create a more business-friendly climate, including the modernisation of public systems, the digitisation of services and ongoing reforms to improve efficiency and transparency.
• The minister for investment suggested that these partnerships bring mutual benefits for Barbados and the UK. “Barbados gains through job creation and through skills and technology transfer, which ultimately contribute to economic growth. UK and Barbadian businesses, in turn, gain access to new market opportunities and solid returns on investment.” She noted that steadily growing interest from British agencies across a wide range of industries, including financial services, ICT, agro-processing, renewable energy, construction and manufacturing. She also emphasised emerging opportunities in education, the blue economy and innovation-driven fields such as space technology and film.
• British high commissioner to Barbados and the Eastern Caribbean, Simon Mustard, underscored the importance of strengthening trade and investment links amid global uncertainty. He encouraged businesses to diversify and build resilience through collaboration in areas such as renewable and geothermal energy, digital transformation, and small business development.
• Trade between the UK and Barbados grew by 9% over the past year, reaching more than $1.59Bn (£600Mn), the high commissioner revealed. He said the UK’s global trade strategy targets eight high-growth fields: clean energy, advanced manufacturing, digital and technology, creative industries, financial services, life sciences, defence, and professional business services, backed by £22Bn ($58.3Bn) annually in research and development and £34Bn ($90Bn) in new capital. He also projected a 2.7 pe cent growth rate for Barbados this year, driven largely by tourism, construction, renewable energy, and digital transformation.

(Source: Barbados Today)

• Guyana has secured a US$15Mn signing bonus from a new Production Sharing Agreement (PSA) signed on Tuesday with a consortium comprising QatarEnergy (35%), TotalEnergies (40%, operator), and PETRONAS (25%) for the shallow-water Block S4 offshore Guyana.
• The bonus exceeds the minimum US$10Mn floor for shallow-water blocks and will be deposited directly into the Natural Resource Fund (NRF), ensuring full transparency and accountability. The agreement, inked at the Pegasus Corporate Suite on Tuesday, is the first to be signed under Guyana’s new fiscal regime. The new PSA introduces a 10 per cent corporate tax, enhanced environmental and regulatory standards, and stricter penalties for non-compliance with work programmes.
• Minister of natural resources, Vickram Bharrat, hailed the agreement as a milestone that strengthens investor confidence and marks the first PSA signed under Guyana’s new fiscal regime. The minister emphasised that the signing underscores the government’s ongoing effort to attract world-class investors while protecting Guyana’s long-term interests.
• Minister Bharrat noted that the Guyana Basin continues to attract some of the world’s largest and most experienced energy companies, including ExxonMobil, Chevron, CNOOC, TotalEnergies, QatarEnergy, and PETRONAS, solidifying Guyana’s position as an emerging global energy hub. The minister praised the technical team within the Ministry of Natural Resources for their exceptional work in managing the sector, citing Guyana’s rapid progress from its first oil production in 2019 to current production levels of approximately 930,000 barrels per day.
• Notably, Guyana has distinguished itself as one of the few new oil-producing nations to establish an NRF within just two years of commencing production, a move, Minister Bharrat describes as a commitment to transparency and sound fiscal management.
• The new oil block, ‘Block S4’, spans approximately 1,788 square kilometres, located 50 to 100 kilometres off Guyana’s coast in water depths ranging from 30 to 100 metres. Exploration activities will adhere to Guyana’s regulatory standards and international best practices for environmental protection and resource management.

(Source: Caribbean News Global)

• A deal to end the longest government shutdown in U.S. history cleared Congress on Wednesday, after the House of Representatives voted to restart disrupted food assistance, pay hundreds of thousands of federal workers and revive a hobbled air-traffic control system.
• The Republican-controlled chamber passed the package by a vote of 222-209 with six Democrats backing the Republican-led measure, setting up an end to the government shutdown after 43 days once President Donald Trump signs the legislation. The shutdown became the longest in US history, surpassing the previous record of 35 days in late 2018 and early 2019.
• The House passed a package of bills on Wednesday that will temporarily fund and reopen federal agencies through January 30 - leaving the federal government on a path to keep adding about $1.8 trillion a year to its $38 trillion in debt after the Senate finally arrived at a deal on November 9. In the coming weeks, lawmakers will negotiate a longer-term solution to avoid another closure. Trump is likely to sign the bills quickly. 
• Alongside securing general government funding through January 30, the stopgap bills set a budget for the Department of Veterans Affairs, the Department of Agriculture, the Food and Drug Administration and the legislative branch through January 2026.
• The package also restores full funding for the Supplemental Nutrition Assistance Program. However, Congress' plan does not extend Affordable Care Act (ACA) subsidies. This act provides healthcare cost relief to millions of low- and middle-income Americans beyond their December 31 expiration date and was a major goal of Democrats during the shutdown. Under Wednesday's agreement, Congress said it will negotiate on subsidies before voting in December.
• The shutdown has directly affected Americans: Airports have seen major delays, with staff concerned that the shutdown would create chaos for holiday travel. Airlines were cancelling up to 10% of flights at major hubs in the last days of the shutdown and schedules may take time to return to normal. Additionally, safety net programs were unable to pay full November benefits, and federal employees were furloughed or worked without pay for over a month.
• With the government reopen, Federal Reserve Chair Jerome Powell said he expects that Americans' finances will soon return to normality. "The shutdown of the federal government will weigh on economic activity while it persists," he said in the Fed's October meeting. "But these effects should reverse after the shutdown ends."

(Source: Business Insider)

• The U.S. Federal Reserve is expected to lower its key interest rate by 25 basis points next month, according to 80% of economists polled by Reuters, marking a slight increase in consensus from last month’s survey. This would represent the third consecutive rate cut, taking the federal funds rate to 3.50%–3.75%. Of the 105 economists surveyed, 84 expect a cut, while 21 expect no change. The move is intended to support a weakening labour market, which remains a key concern for policymakers.
• Despite growing consensus among economists, there is clear disagreement within the Federal Open Market Committee (FOMC) about whether another rate reduction is warranted this year. The divide is deepened by the absence of key official data amid the longest government shutdown in U.S. history. Chair Jerome Powell has warned that a December cut is not a foregone conclusion, following last month’s quarter-point reduction that drew rare dissent in two directions.
• According to Abigail Watt, U.S. economist at UBS, the labour market “still looks relatively weak,” justifying another rate cut. However, she cautioned that the risk for December lies in new data dispelling that sense of weakness. A temporary funding bill approved by the Senate could reopen the government and clear some of the data fog before the Fed’s next meeting. Watt also noted a growing tension between labour market concerns and inflation risks, warning that the Fed’s dual mandate may become harder to balance as inflationary pressures rise.
• The Personal Consumption Expenditures (PCE) index, the Fed’s preferred inflation gauge, has remained above the 2% target for over four years, the longest stretch since 1995. Economists polled expect inflation to stay above 2% through 2027. Josh Hirt, senior economist at Vanguard, cautioned that persistent inflation above target could undermine Fed credibility, especially if public perception shifts suddenly. He also warned against viewing tariff-driven inflation as merely temporary, urging greater policy caution.
• Nearly 70% of respondents to the Reuters poll (36 of 52) said job growth has remained steady since the shutdown began, even as private data indicate job losses. Sixteen economists reported that hiring had worsened, while none said it improved. The unemployment rate, last recorded at 4.3% in August, is expected to remain steady this quarter and rise modestly to 4.5% next year.
• The U.S. economy, which expanded 3.8% in Q2 and an estimated 2.9% in Q3, is forecast to slow sharply to 1.0% in Q4, according to poll medians. Economists expect growth to average around 1.8% annually through 2027, broadly aligning with the Fed’s non-inflationary growth rate estimate.

(Source: Reuters)

• For the third quarter ending September 30, 2025 (Q3 2025), Toll Operator TransJamaican Highway Ltd. (TJH), delivered another quarter of robust earnings growth (+23.7%), buoyed by higher toll collections and lower administrative costs.
• Revenues for the period increased by US$25.57Mn (+16.7% year-over-year) mainly due to higher toll revenue from its Portmore, Spanish Town, Vineyards and May Pen toll booths aided by sustained increases in traffic volumes and the continued expansion of T-tag usage across the network.
• Higher maintenance spending and amortisation of intangible assets which was partially offset by reduced consultancy fees resulted in TJH’s operating expenses (OPEX) growing by 10.4% to US$5.90Mn. Meanwhile, administrative expenses, primarily comprising staff costs, depreciation of plant and equipment and other routine office expenses, were well contained, inching up by just 0.7% to US$2.5Mn.
• With revenue growth outpacing OPEX and administrative expenses, the operating profit margin increased from 75.60% to 76.91% during Q3 2025, while net profit margin expanded to 33.84% from 31.93% for Q3 2024.
• Ultimately, TJH’s strong Q3 performance along with robust performance since the start of the year, supported a 27.5% increase in its nine-month earnings to US$27.99Mn.
• Toll collection across Jamaica’s major highways resumed at 12 a.m. on Monday, November 10, 2025. The suspension, first implemented ahead of Hurricane Melissa’s passage, had been extended to facilitate recovery and relief operations. While there is no confirmed damage to toll infrastructure, the company reportedly absorbed loss of J$41 million per day during the suspension. This means that the upcoming Q4 release may show temporary weakness in performance compared to the same period in 2024.
• Following the passage of Hurricane Melissa, TJH committed J$100 million in relief efforts and the government’s new protocol following the resumption of toll fees allows authorised humanitarian and emergency vehicles to traverse the tolls free of cost.
• At Tuesday’s close, TJH’s stock price was J$4.17, A 10.0% decline year-to-date. At this price, TJH trades at a P/E of 9.1x, which is below 14.1x for the Main Market Energy, Industrials and Materials average.

(Source: TJH Unaudited Financial Results, JIS, NCBCM Research)

• In an effort to restore essential services in the hurricane’s aftermath, Jamaica Public Service Company (JPS) has now provided power to several communities and are now moving into the business district of Montego Bay. Fairview is fully powered and power has been restored to the section supplying the parish’s liquified natural gas (LNG) infrastructure, a critical area that supplies energy to the JPS Bogue Power plant.
• JPS is prioritising the restoration of electricity in critical service areas before extending efforts to residential communities. The company is now running power from the Bevin Avenue area to Queen’s Drive, which will go to power Sangster International Airport. Cornwall Regional Hospital (CRH), the Bogue treatment plant and the Great River pump station all have had their power restored. The next step will be to re-energize the grids that lead to larger communities, followed by the smaller off-route areas.
• Regarding water supply, Councillor Vernon noted that the National Water Commission (NWC) has resumed distribution to several communities – a development that will significantly aid ongoing clean-up and sanitation efforts.
• The National Emergency Operations Centre (EOC), the national coordinating body for disaster management, activated by the Office of Disaster Preparedness & Emergency Management (ODPEM) in response to Hurricane Melissa, continues to closely monitor all developments to ensure the safe and orderly restoration of essential services. NEOC and parish EOC are working closely with JPS and NWC and are on the pathway to full restoration across the parish of St James. Mayor Vernon urged residents to exercise patience as the recovery process continues, reaffirming that “the mission remains the same – restoration, clean-up, and monitoring.”

(Source: JIS)

• South America will sustain strong final investment decision (FID) momentum through 2030, leading to a cumulative US$197 billion in conventional greenfield spending across oilfields between 2020 and 2030.
• The projection comes from a new report by Norway-based Rystad Energy, which highlights that most of these investments are concentrated in offshore deepwater projects. According to Rystad Energy, “Brazil and Guyana will dominate the region’s oilfield development, while Suriname is positioning itself as the next offshore producer.” The country’s GranMorgu field, formerly known as Sapakara South and Krabdagu, is expected to start up by 2028.
• The report shows that total upstream investment in South America’s oilfields reached over US$46Bn last year, the highest level since 2015. Spending is forecast to grow by 10% this year before easing slightly in the coming years, remaining close to US$50 billion annually throughout the next decade.
• The Norwegian market intelligence firm notes that greenfield developments in Brazil and Guyana’s yet-to-produce assets will lead investment activity, while producing fields in Argentina, Brazil, and Colombia will continue to drive brownfield spending.
• In Guyana, ExxonMobil operates the Stabroek Block, the nation’s only producing offshore asset. Since the first discovery in 2015, around 11 billion barrels of recoverable resources have been identified. Exxon recently reached FID on its seventh project, Hammerhead, and is expected to sanction another, the Longtail development, in 2026

(Source: Oil Now)