Business & Economy
CIB President Luigi Wewege Earns Doctorate Focused on Strengthening Financial Stability in Central America
Mr. Luigi Wewege, President of Caye International Bank (CIB) based in San Pedro, Ambergris Caye, has officially been awarded his Doctor of Philosophy (PhD) degree, marking the culmination of a multi-year academic journey focused on strengthening financial stability across Central America. Dr. Wewege completed his doctoral research at the International School of Management in Paris, France, examining one of the region’s most critical and underexplored issues: retail banking crises in Central America.
Business & Economy
Belize Postal Service Adds $1 Fee on All Packages Shipped to the U.S.
The Belize Postal Service will charge an additional $1 on all packages shipped to the United States, following Cabinet approval announced just before Valentine’s Day. This affects shippers nationwide, with the fee applying immediately to cover new compliance costs. Postmaster General Dr. Marsha Price confirmed the change stems from updated U.S. import rules.
Business & Economy
Fuel Prices Drop in Belize, but Cost of Living in San Pedro Remains High
Fuel prices in Belize have decreased over the past few weeks, with prices on the mainland dipping below $11 per gallon. In San Pedro Town, Ambergris Caye, prices for diesel and gasoline, the main types of fuel consumed, have also decreased compared to previous years. The price for diesel per gallon is currently $12.07, while regular gasoline is $11.50.
Business & Economy
Trade License Fee Increases Cause Concern in Belmopan; San Pedro Trade License Fee Unaffected
As of February 10th, businesses in Belmopan have faced sharp increases in trade license fees, with some reportedly rising from $2,500 to $18,000—a 700% increase—prompting concern among business owners and allegedly prompting some closures. The development stems from a citywide review by the Belmopan Trade License Board and has affected multiple establishments, despite a national deferral of the new Trade License Act.
Business & Economy
BTL’s Acquisition of Speednet Paused by Government
During the first sitting of the House of Representatives for the year on Thursday, February 6th, Prime Minister Honourable John Briceño announced that the proposed acquisition of Speednet/SMART by Belize Telemedia Limited (BTL) has been paused. He said that before negotiations continue, the Public Utilities Commission (PUC) must be involved.
Business & Economy
Palm Casino Cleared to Reopen After Court Overturns Shutdown
On February 11th, The Palm Casino in San Pedro received court approval to reopen after a government-ordered closure was ruled unlawful, marking a swift legal victory for the establishment. The closure stemmed from a government enforcement action on January 29th, which the casino owners challenged as procedurally flawed and unjustified.
Business & Economy
Ambergris Caye Represented at International Economic Forum in Panama
The International Economic Forum Latin America and the Caribbean 2026 concluded on January 29 with a record number of participants, including representation from Belize. Held in Panama City, the event brought together seven heads of state and one president-elect, more than 30 official delegations, over 400 bilateral meetings, and 50 panel discussions.
Business & Economy
BTB Opens New Artisan Market in San Pedro with Ribbon-Cutting Ceremony
The Belize Tourism Board (BTB) officially opened the new Artisan Market in San Pedro Town on Thursday, February 5, 2026, with a ribbon-cutting ceremony held at 11AM on Nurse Shark Street. The event featured a short program led by master of ceremonies Rene Guzman, San Pedro Town Council Administrator.
Business & Economy
Inflation Rates in Belize Remain Unstable
Inflation in Belize has continued to fluctuate over recent months, dipping to 0.4% nationally in November 2025 from 0.9% in October. Areas within the country’s productive zones, including San Pedro Town on Ambergris Caye, continue to record higher inflation levels, registering rates above 3% during the first eight months of 2025.
Business & Economy
Liquor License Board Holds Annual Meeting in San Pedro
The San Pedro Town Council’s Liquor License Board held its mandatory annual general meeting on Wednesday, January 27th, at the Lions Den. The meeting brought together liquor license holders and community members to discuss 2026 renewals, compliance requirements, and ongoing challenges.
Business & Economy
CIB President Luigi Wewege Listed Among Top 50 Global FinTech Influencers
President Luigi Wewege of Caye International Bank (CIB) has once again earned international recognition, being named to the Top 50 Global Thought Leaders and Influencers in FinTech for 2026. Thinkers360, a global thought leadership platform and expert network, announced it on January 21st. According to Thinkers360, the list features members who actively curate and share thought leadership content across a wide range of platforms, including articles, blogs, books, keynote addresses, media interviews, panels, podcasts, social media, speaking engagements, videos, webinars, and whitepapers.
