AGP Executive Report

Caribbean Weather Watch: Tropical Storm Dolly has formed in the Atlantic and could bring heavy rain to the Leeward Islands this weekend, with the Virgin Islands, Puerto Rico and Hispaniola facing rainfall Sunday into Monday and a risk of flash flooding. USVI Small Business Relief: Puerto Rico’s governor says SBA Economic Injury Disaster Loans are now available after the U.S. declared a drought disaster affecting 26 municipalities, covering eligible small businesses and nonprofits hit by drought losses. BVI Health Leadership: Senior sources say BVI Health Services Authority is set to get a new CEO, Gordon Frame of Scotland, expected to start Sept. 1, 2026. BVI/VI Financial Crime Spotlight: The Royal Virgin Islands Police Force Financial Crime Unit won an ARIN-CARIB “Most Responsive Member” award for its work on international financial crime investigations. BVI-India Trade Push: Premier Natalio Wheatley and finance officials rang the opening bell at India’s National Stock Exchange during the territory’s inaugural financial services trade mission, positioning the BVI as a gateway for investment and capital. USVI Horse Racing Deal Stalls: USVI Labour Day races on St. Thomas were cancelled after lawmakers sent the Southland Gaming bill back to committee, leaving the racetrack plan in limbo. Local Infrastructure Update: Long Bay Road on Virgin Gorda has reopened after repairs to a key bypass route damaged by 2025 flooding, restoring two routes to North Sound. Energy Cost Pressure: A local commentator says August electricity bills rose after a fuel subsidy ended, arguing the government should have locked in fuel pricing earlier. Online Safety Settlement: Meta’s $17.1 billion settlement includes new child-safety rules for Facebook and Instagram, with U.S. territories including the U.S. Virgin Islands named among the covered jurisdictions.

BVI Financial Services Trade: Premier Natalio Wheatley and Finance Minister Lorna Smith rang the opening bell at India’s National Stock Exchange during the Virgin Islands’ inaugural financial services trade mission, pushing the territory as a gateway for capital and deal-making with India. BVI Governance & Health: Senior sources say BVI Health Services Authority (BVIHSA) is bringing in Scotland national Gordon Frame as CEO, expected to start Sept. 1, 2026, with details of the package still unclear. Energy Costs & Relief: BVIEC General Manager Dr Neil M. Smith says a credit will land on customers’ next bills after August spikes tied to July fuel surcharges, but he won’t disclose the amount until central approvals are finalized. Local Infrastructure: Long Bay Road on Virgin Gorda has reopened after flooding damage in 2025, restoring a key bypass route to North Sound for residents and visitors. Crime-Fighting Recognition: RVIPF Financial Crime Unit won an ARIN-CARIB “Most Responsive Member” award for timely international financial crime support. USVI Policy Watch: USVI senators sent the Southland Gaming racetrack bill back to committee, keeping St. Croix VLT and exclusivity questions in limbo. Online Safety & Money: Meta’s $17.1B settlement over alleged addictive design and child harms includes U.S. territories like the U.S. Virgin Islands, with major state payouts and new safety requirements. Weather: Tropical Storm Dolly formed in the Atlantic and could bring heavy rain to parts of the Caribbean, including the Virgin Islands, Sunday into Monday.

Meta Youth-Safety Payouts: New Hampshire, Oklahoma and South Dakota are among the states locking in major multistate Meta settlements tied to alleged addictive design on Facebook and Instagram, with New Hampshire set for up to $224.3M, Oklahoma guaranteed at $235.6M (potentially more), and South Dakota at least $52.6M—each also requiring new child-safety measures. USVI Gaming Uncertainty: In the U.S. Virgin Islands, senators sent the Southland Gaming racetrack package back to committee, keeping St. Croix’s Randall “Doc” James Racetrack and proposed VLT changes in limbo as lawmakers question the economic impact and revenue-sharing assumptions. BVI Electricity Relief Fight: In the British Virgin Islands, BVIEC says August bills rose due to July fuel costs after a subsidy ended, while officials plan an undisclosed credit for September; Opposition Leader Marlon Penn is pushing for immediate, broader subsidy relief. BVI-India Finance Push: BVI officials used a trade mission and legal-firms meetings in India to pitch a dedicated BVI-India investment corridor and deeper cooperation with GIFT City, including interest in India’s UPI model. Infrastructure Update (Virgin Gorda): Long Bay Road on Virgin Gorda has reopened after flood damage, restoring a key bypass route to North Sound for residents and visitors. Blockchain Security (BVI-linked): TxFlow says an independent OpenZeppelin audit of its bridge contract found zero critical and zero high issues, with one medium finding resolved.

Road & Transport: Long Bay Road on Virgin Gorda has reopened after flood damage in 2025, restoring a key bypass that gives residents and visitors two routes to North Sound and should ease congestion for taxis and tour operators. Electricity Costs: BVIEC says a credit will be applied to September bills after August’s high charges tied to fuel costs, but the exact amount won’t be disclosed until central approvals are finalized—while the government reiterates that repeatedly subsidising imported diesel isn’t sustainable. BVI–India Business Push: Premier Natalio Wheatley’s first BVI trade mission to India is pitching a dedicated BVI-India investment corridor and deeper cooperation with GIFT City, including interest in India’s UPI payments ecosystem and stronger cross-border legal links. Tourism Trade: St. Kitts hosted the 2026 ASTA Caribbean Showcase, with BVI’s junior tourism minister among regional officials—spotlighting airlift, AI and sustainable growth as travel advisors plan deals. Finance & Policy Watch: Regulators missed a deadline for stablecoin rules under the GENIUS Act, with agencies now writing regulations on their own timelines. Gaming & Racing: A Senate vote is set on a St. Croix racetrack rebuild and video lottery franchise deal that would bring Southland Gaming VI as exclusive promoter and expand VLTs to St. Croix for the first time.

BVI-India Finance Push: Premier Natalio Wheatley’s first trade mission to India is pitching a dedicated BVI-India investment corridor and deeper cooperation with GIFT City, with talks spanning financial services, FinTech, digital transformation, cross-border legal links, and investment protection. Local Energy Relief: BVI Electricity Corporation says it will apply a credit to September bills after August spikes tied to record fuel costs, while Minister Kye Rymer warns that repeatedly subsidising imported diesel isn’t sustainable and points to renewables as the long-term fix. Tourism Trade Networking: The BVI’s junior minister for tourism, Luce Hodge-Smith, is among regional officials at the ASTA Caribbean Showcase in St. Kitts, where travel advisors and governments focus on sustainable growth and regional airlift. Marine Industry Bottleneck: Shipping Registry Director John M. Samuel says the BVI’s commercial recreational marine sector is constrained by a shortage of safe, hurricane-resilient marina berths and limited airlift/hotel capacity, urging more safer harbours to extend the operating season. Offshore Transparency Debate: A new report highlights how offshore secrecy jurisdictions are adapting to UK transparency pressure, including the practical hurdles and costs for accessing ownership data. Tax Case Watch: An ITAT Delhi decision granted relief in a “black money” notice involving alleged British Virgin Islands and Singapore assets, underscoring how offshore structures can still face scrutiny when disclosures are challenged.

BVI–India Finance Push: Premier Natalio Wheatley led the BVI’s first trade mission to India, pitching the territory as a gateway for global investment and deeper cooperation with GIFT City, with talks spanning financial services, fintech, digital transformation, trade, and legal capacity-building. Electricity Cost Relief & Policy: BVI Communications and Works Minister Kye Rymer said repeated subsidies for imported diesel aren’t sustainable as BVIEC’s August bills spiked after July fuel costs hit record levels; a credit is promised for September while officials push the renewable-energy transition. Regional Tourism Trade Spotlight: St Kitts hosted the 2026 ASTA Caribbean Showcase, featuring BVI participation and discussions on airlift, AI in tourism, and sustainable growth. Marine Growth Constraints: Virgin Islands Shipping Registry director John M. Samuel warned that the commercial recreational marine sector can’t expand without more hurricane-resilient marina berths, safer harbours, and improved airlift and hotel capacity. USVI Fiscal Strain: USVI budget officials projected a roughly $59m deficit for FY2026 amid weaker-than-expected revenues, with lawmakers weighing options as they mark up the FY2027 plan. Economic Development Wins: UVI Research and Technology Park secured six 2026 IEDC Excellence in Economic Development Awards, including three golds tied to STEM, renewable-energy infrastructure, and innovative financing. Health Leadership: Dr. Eva Jané Llopis assumed the PAHO/WHO representative role for Barbados and the Eastern Caribbean, bringing 25 years of public health experience and overseeing technical cooperation across the region, including the BVI.

BVI–India Financial Push: Premier and Finance Minister Natalio Wheatley says the British Virgin Islands can act as India’s gateway to global investment, outlining a five-year plan that goes beyond finance into fintech, digital transformation, trade, and capacity building as he leads a first-ever VI–India trade mission. Ministerial Talks: India’s Finance Minister Nirmala Sitharaman met Wheatley in New Delhi as the delegation tours key hubs including GIFT City, Mumbai, and Bengaluru to deepen financial ties. Scholarship Pipeline: The BVI Asia Abroad Scholarship Programme reports a surge in applications ahead of its third cohort, prioritizing study areas aligned with national development needs like tourism and finance. Electricity Relief for Households: BVIEC will apply a credit to September bills after August electricity spikes tied to record fuel costs and the end of an emergency subsidy. Marine Sector Bottleneck: John M. Samuel warns the VI’s commercial recreational marine industry can’t grow without more hurricane-resilient marina berths, safer harbours, and better airlift and hotel capacity. Business Support for MSMEs: The VI government awarded US$165,000 in grants to 18 MSMEs to help cover start-up and development costs across sectors from food services to logistics. Corporate Growth: Alpha Compute expands its global infrastructure team to scale AI-ready GPU deployments and client support. USVI Fiscal Strain: USVI revenue shortfalls are driving a projected $59 million deficit, with officials weighing options to cover the gap.

USVI Budget Crunch: US Virgin Islands officials say revenues are tracking 9.4% below forecast, putting a $59M deficit on the table as the fiscal year ends Sept. 30, with lawmakers urged to approve use of Epstein and Leon Black settlement funds to plug near-term gaps. Electricity Relief Plan: BVIEC will apply a credit to September bills after August power bills spiked on July fuel costs tied to global market disruption and the end of an emergency subsidy. BVI Trade Push: Premier Wheatley leads a 12-member VI delegation to India (Aug. 24–31), pitching trade missions as a driver of Financial Services revenue and new partnerships. BVI Scholarships: The Asia Abroad Scholarship Programme reports a surge in applications, with four new scholars set for its next cohort. BVI MSME Grants: The VI government awarded US$165,000 in grants to 18 local MSMEs to support start-up and growth across sectors from food services to logistics and care for seniors. Tourism & Marine Safety: BVI issued a pointed marine safety message after 20 accidents this year, with collisions and groundings making up 90% of reported incidents. Cruise Economy: Norwegian Cruise Line detailed Norwegian Aura’s 2027–28 Caribbean itineraries, including calls at Tortola and St. Thomas, as it leans harder into wellness and solo-friendly offerings. USVI Drought Disaster: The US government declared drought disaster conditions across St. Thomas, St. John and St. Croix, unlocking federal emergency loan options for farmers. Google Play Settlement: USVI residents are among those potentially eligible for payouts from a $700M Google Play antitrust settlement, with many payments expected to be automatic.

Drought Relief for USVI Farmers: The U.S. government declared a drought disaster for the U.S. Virgin Islands after extreme dry conditions hit St. Thomas, St. John and St. Croix, unlocking federal emergency loans for farmers and ag producers. Local Business Support: The Virgin Islands government awarded US$165,000 in MSME grants to 18 local business owners, including first-time support for Jost van Dyke, aimed at start-up and growth costs. BVI Marine Safety Push: BVI authorities issued a safety message to marine operators after 20 accidents this year, with collisions and groundings making up 90% of cases, urging better competence, preparation and reporting. USVI Housing Finance Oversight: Senators grilled VIHFA officials over a suspension of certain federal funds, asking how it could affect staff and the housing project pipeline. Trade Mission to India: Premier Wheatley leads a 12-member VI delegation to India for the first VI-India Trade Mission (Aug. 24–31), building on growing formal ties. Education Funding: Ocean Point Terminals awarded $16,000 in scholarships to eight USVI students for 2026–2027. Tourism Access Debate (BVI): Hon. Vincent O. Wheatley said The Baths and Devil’s Bay must remain open to the public, responding to controversy over reserved cruise access windows. Cruise Growth Signal: Norwegian Cruise Line detailed Norwegian Aura’s Caribbean calls, including St. Thomas and Tortola, with a focus on expanded onboard wellness and dining. Air Connectivity (Regional): Contour Airlines announced new flights between Trinidad and Dominica starting Oct. 5, with onward one-stop connections to San Juan and St. Thomas. Small Business Rules Update (US): The SBA proposed simplifying small business size standards to expand access to federal programs and contracting.

BVI Trade Mission: Premier Natalio Wheatley is leading a 12-member Virgin Islands delegation to India for the first VI-India Trade Mission (Aug. 24–31), aiming for regulatory talks, B2B meetings, and financial services roadshows to win new business and long-term partnerships. Local Business Support: The Virgin Islands government awarded US$165,000 in MSME grants to 18 local business owners, backing start-up and growth costs across sectors like food services, tours, trades, logistics, and senior care. Marine Tourism & Safety: BVI marine authorities issued a safety reminder after 20 marine accidents this year, with collisions and groundings making up 90% of cases—urging better preparation, lookout, and operator competence. Cruise Economy: Norwegian Cruise Line detailed its new Norwegian Aura, bringing Eastern and Western Caribbean itineraries that include calls at St. Thomas and Tortola, with a major onboard wellness focus. USVI Drought Relief: The U.S. government declared a drought disaster for the U.S. Virgin Islands, enabling farmers and agricultural producers to seek federal emergency loans. Scholarships & Education: Ocean Point Terminals will award $16,000 in scholarships to eight USVI students for 2026–27, supporting study and technical training across the U.S. Housing Oversight: Senators grilled VIHFA officials on the suspension of certain federal funds and how it could affect staff and the housing pipeline.

Marine Tourism & Safety: The BVI issued a pointed warning to marine operators after recording 20 marine accidents this year, with collisions and groundings making up 90% of cases—urging better preparation, situational awareness, and reporting. Local Business Support: The Virgin Islands government awarded US$165,000 in MSME grants to 18 local businesses, including first-time support for a Jost van Dyke recipient, spanning services from food and tours to auto mechanics and senior care. Public Finance Oversight: USVI senators grilled VIHFA officials over a suspension of federal funds, while discussing the authority’s FY2027 budget request of $24.45M and potential impacts on staff and housing projects. Trade & Financial Services: Premier Natalio Wheatley will lead a VI-India trade mission (Aug. 24–31) focused on financial services roadshows and B2B meetings in New Delhi, GIFT City, Mumbai, and Bengaluru. Education & Scholarships: Ocean Point Terminals announced $16,000 in scholarships for eight USVI students for 2026–2027, with recipients headed to schools including MIT, Howard, and Tulsa Welding School. Drought Relief: The US government declared a drought disaster for the US Virgin Islands, unlocking federal emergency loans for farmers as dry conditions persist. Cruise Industry Watch: Norwegian Cruise Line detailed Norwegian Aura’s Caribbean summer itineraries, including calls at St. Thomas and Tortola, as the ship adds new onboard wellness and dining concepts. Consumer/Payments: Google Play users in the USVI and other territories may receive restitution from a $700M antitrust settlement, with many payments expected to be automatic.

BVI Trade & Finance: Premier Natalio D. Wheatley will lead a 12-member Virgin Islands delegation to India for the first-ever VI-India Trade Mission (Aug. 24–31), aiming for regulatory talks, B2B meetings, and qualified leads for BVI financial services, funds, private wealth, fintech, and cross-border business. Local Business Support: The VI government awarded US$165,000 in MSME grants to 18 entrepreneurs, including first-time support for a Jost van Dyke business, covering start-up and development costs across sectors like food services, tours, trades, logistics, and senior care. Education & Workforce: Ocean Point Terminals will fund $16,000 in scholarships for eight USVI students (MIT, Howard, Florida A&M, Tulsa Welding School and others). Drought & Food Security: The U.S. government declared a drought disaster for the U.S. Virgin Islands, enabling farmers to seek federal emergency loans as extreme dry conditions persist on St. Thomas, St. John, and St. Croix. Marine Tourism Safety: BVI authorities urged tighter marine operator safety after 20 accidents this year, with collisions and groundings making up 90% of reported incidents. Cruise Industry Watch: Norwegian Cruise Line detailed Norwegian Aura’s Caribbean summer schedule, with calls including St. Thomas and Tortola, plus major onboard wellness and dining upgrades. Charity & Community: Mourant’s Annual Giving Day application period is open for VI-registered nonprofits, with submissions due Nov. 10, 2026.

Cruise & Tourism: Norwegian Cruise Line unveiled more details on its new Norwegian Aura, its biggest ship yet, with a Caribbean run starting summer 2027—seven-night Eastern Caribbean trips calling at St. Thomas, Tortola and others, plus Western Caribbean itineraries in winter. Disaster & Water Security: The U.S. government declared a drought disaster for the U.S. Virgin Islands, citing extreme dry conditions on St. Thomas, St. John and St. Croix and opening the door to federal emergency loans for farmers. Local Business Support: The Virgin Islands government awarded US$165,000 in MSME grants to 18 local business owners, including support for start-up and development costs across sectors like food services, tours, trades and senior care. Marine Economy & Safety: BVI marine authorities urged tighter safety practices after 20 marine accidents this year, with collisions and groundings making up 90% of reported incidents. Policy & Finance: Senators grilled VIHFA officials over a suspension of certain federal funds, while the agency presented its FY2027 budget request. Trade Mission: Premier Dr. Natalio Wheatley will lead a public-private financial services delegation to India next week, aiming to win leads and partnerships for BVI service providers.

Drought Relief for USVI Farmers: The U.S. government declared a drought disaster for the U.S. Virgin Islands, citing extreme conditions on St. Thomas, St. John and St. Croix and unlocking access to federal emergency loans for farmers and ag producers. VI Housing & Federal Funding: Senators grilled VIHFA officials on a suspension of federal funds, pressing how it could affect staff and the housing project pipeline. Small Business Rules Update: The SBA proposed simplifying small business size standards to make it easier for fast-growing firms to qualify for federal programs and contracting. BVI Marine Safety Push: BVI authorities issued a pointed safety message after 20 marine accidents this year, with collisions and groundings making up 90% of reported incidents—urging better preparation and operator competence. Marine Tourism Strategy: A policy analyst called for stronger public-private partnerships to grow marine tourism and increase local ownership under the territory’s sustainable development plan. MSME Grants in Tortola: The VI government awarded US$165,000 in grants to 18 MSME owners, supporting start-up and business development across multiple sectors. VI Education Spotlight: Juanita Jardine topped VI’s 2026 CSEC rankings with 9 Grade Ones, as the territory reported strong subject pass rates. St. Croix Tuition Fundraiser: The Make It Happen Foundation’s T-Off-4 Tuition weekend (Aug. 22–23) will raise scholarship support for VI students. Energy & Water Signals: Consolidated Water declared a quarterly dividend, while local coverage also highlighted ongoing water and energy pressures across the region.

Energy & Permitting: A new commentary urges Virgin Islands residents to scrutinize “green” utility-scale solar and battery projects early, pushing for clear hazard mitigation, professional engineering sign-offs, and strict land-use permitting before facilities move forward. Cruise Access & Public Rights: Hon. Vincent O. Wheatley says The Baths and Devil’s Bay “must remain open” to the public, after controversy over National Parks Trust talks with an international luxury cruise operator for reserved access on peak-season mornings. BVI Trade & Finance: Premier Wheatley will lead a BVI financial services public-private delegation to India Aug. 24–31, targeting regulators, industry meetings, and business roadshows in New Delhi, GIFT City, Mumbai, and Bengaluru. Electricity Costs: BVIEC says electricity rates will stay flat, with only customers using above 1,500 kWh seeing changes to the fuel subsidy structure. Marine Safety: The VI is urging marine operators to tighten safety after 20 accidents this year, with collisions and groundings making up 90% of recorded incidents. Housing Finance: Federal Home Loan Bank of New York awarded $70.9M in grants for 47 affordable housing initiatives, supporting 2,440 units across multiple states and territories including Puerto Rico. Corporate Moves (BVI-linked): Orca Energy Group extended the deadline for Tanzania regulatory approvals to Aug. 31, 2026, and declared a special dividend of $0.50 (Cdn) per share payable Sept. 15. Local Business & Education: Make It Happen Foundation’s Aug. 22–23 T-Off-4 Tuition weekend on St. Croix will raise scholarship funds for VI students.

Marine Safety Push: The VI government is urging marine operators and charter companies to tighten safety after 20 accidents this year, with collisions and groundings making up 90% of reported incidents. BVI Trade & Finance: Premier Dr Natalio Wheatley will lead a public-private financial services delegation to India (Aug. 24–31) to meet regulators and industry and generate leads for BVI funds, private wealth, fintech and cross-border business. Elections Funding Scrutiny: The Elections System of the Virgin Islands is seeking a FY2027 budget of $2.79M, while officials warned of procurement timing and outstanding vendor payments amid record turnout and broadcaster funding concerns. Public Finance Accountability: Opposition Leader Marlon Penn is calling for a full independent Auditor General probe into more than $7.5M in public funds invested without full public briefing, citing Delta Capital and a Bank of Asia deposit controversy. Cruise Growth Watch: The BVI recorded the third-fastest cruise growth in the Caribbean in Q1, with 493,397 passengers (+29.3%), renewing debate over whether cruise arrivals translate into broader local benefit. Energy Rates Update: BVIEC says electricity rates won’t increase, keeping the fuel subsidy for the first 1,500 kWh while adjusting costs only for higher usage. Local Giving: Make It Happen Foundation’s T-Off-4 Tuition weekend (Aug. 22–23) will raise scholarship funds for VI students. Corporate Moves: Amazon began operating a $37M last-mile delivery station in Puerto Rico, aiming to speed shipping across the region. Housing Finance: Federal Home Loan Bank of New York awarded $70.9M in grants supporting 47 affordable housing initiatives across multiple states and territories. Dividend News: Consolidated Water declared a $0.14 per-share quarterly cash dividend for Q4 2026.