Carib Scope

作者： admin

  • Wereldwijde aandelen stijgen, goud bereikt nieuw record

    Wereldwijde aandelen stijgen, goud bereikt nieuw record

    Global financial markets experienced broad-based gains on Thursday, propelled by robust corporate earnings optimism while gold prices shattered records for the ninth consecutive session, breaching the $5,500 per ounce threshold. The simultaneous surge in oil prices, driven by escalating geopolitical tensions between the United States and Iran, further fueled market momentum.

    European equities demonstrated strength with the Euro STOXX 600 index advancing 0.5%, primarily driven by rising oil and precious metal prices. Major European exchanges in the United Kingdom, Spain, and France posted gains, while Germany’s DAX index declined 0.9% following disappointing economic data releases.

    Market participants continue to rely on strong corporate earnings to maintain equity attractiveness amid diminishing expectations for Federal Reserve rate cuts before summer. The Federal Reserve maintained current interest rates during Wednesday’s meeting, emphasizing a “clearly improving” economic outlook. Chairman Jerome Powell remained silent regarding his future as Fed governor following his scheduled departure as chair in May.

    Deutsche Bank analysts suggest the Powell-led Fed may have implemented its final rate cut, with increasing balance between risks regarding additional reductions this year.

    Wall Street’s attention centered on Apple, with JPMorgan anticipating quarterly results exceeding expectations due to strong iPhone 17 demand and moderating cost increases. S&P 500 and Nasdaq futures edged higher despite Microsoft’s disappointing figures, offset by Meta’s upgraded revenue and investment projections for 2026.

    Gold surged 2.2% to approximately $5,594 per ounce, achieving nearly 28% monthly gains. Silver similarly benefited, climbing above $120 per ounce. This precious metal rally contributed to a 3% increase in European basic materials indexes, reaching levels unseen since May 2008.

    Oil prices reached four-month highs following President Trump’s warnings to Iran regarding potential attacks absent nuclear agreement progress. Brent crude advanced 2.5% to $70.11 per barrel, while U.S. crude rose 2.6% to $64.83 per barrel.

    Asian markets remained largely stable, with exceptions including South Korea’s 0.6% gain, bringing monthly advances to an impressive 23%. Taiwan’s technology exchange has climbed nearly 13% since January’s commencement.

    Microsoft shares declined 6.5% amid investment profitability concerns, while Meta’s after-hours trading surged 8% following raised 2026 revenue and investment guidance.

    The U.S. dollar faced continued pressure due to policy uncertainty and expanding national debt. The dollar index registered 96.36 against currency baskets, nearing Tuesday’s four-year low of 95.57. Despite U.S. officials advocating for dollar strength, European leaders expressed concern over the decline, with the European Central Bank suggesting a strong euro might justify rate reductions. The euro gained 0.2% to $1.1979, while the dollar weakened against the Swiss franc and Japanese yen.

  • Jamaica’s prime minister calls for a stronger Caribbean presence on the global stage

    Jamaica’s prime minister calls for a stronger Caribbean presence on the global stage

    Jamaican Prime Minister Andrew Holness has delivered a compelling address at CAF’s second International Economic Forum in Panama City, challenging Latin American and Caribbean nations to redefine their international standing. Speaking before an assembly of regional leaders, policymakers, and global investors, Holness articulated a vision of regional transformation from perceived vulnerability to recognized global leadership.

    The Prime Minister categorically rejected the conventional narrative of regional fragility, asserting that “vulnerability is not destiny.” He positioned the Caribbean not as peripheral to the global system but as fundamental to its stability, sustainability, and future expansion. Holness enumerated the region’s considerable advantages, including strategic geographical positioning, demographic youth, abundant natural resources, agricultural capacity, renewable energy potential, creative industries, and robust democratic frameworks.

    To translate these assets into global influence, Holness outlined a tripartite strategic approach: developing a cohesive regional competitiveness agenda focused on connectivity, logistics, energy security, and digital transformation; strengthening institutional frameworks to ensure stability; and pursuing dynamic diplomacy that engages both traditional partners and emerging markets.

    Drawing from Jamaica’s recent experience, the Prime Minister highlighted how disciplined fiscal management and institutional reforms enabled rapid recovery from Hurricane Melissa, a Category Five storm that caused extensive damage. This resilience, he noted, demonstrates the region’s capacity to withstand external shocks when supported by strong governance and international cooperation.

    Holness extended specific invitations to investors to explore Jamaica’s expanding opportunities in infrastructure, logistics, energy, manufacturing, tourism, and digital innovation. The Jamaican government, in partnership with CAF, has organized a dedicated Investment Forum to channel resources toward rebuilding efforts and sustainable development.

    The overarching message emphasized that the Caribbean’s future as a significant global actor depends on deliberate collective action, regional cohesion, and proactive international engagement rather than passive reaction to global trends.

  • President launches national youth mentorship drive during Graydon Sealy school visit

    President launches national youth mentorship drive during Graydon Sealy school visit

    In a significant address at Graydon Sealy Secondary School, President The Right Honourable Jeffrey Bostic unveiled a transformative national mentorship program designed to create pathways for youth from economically challenged communities. The initiative, named the Chapman Challenge in honor of the President’s childhood community of Chapman Lane, represents a cornerstone of his presidential legacy, focusing on breaking cycles of disadvantage through structured support systems.

    During the school’s 50th anniversary celebrations, President Bostic emphasized that socioeconomic circumstances should never determine a young person’s potential. ‘Your circumstances must not stop you from achieving your goals,’ he declared to assembled students, drawing from his personal journey to underscore leadership’s responsibility to inspire future generations.

    The comprehensive program features multiple tiers of support, with schools serving as primary identification hubs for participants as young as twelve. Among its most immediate benefits are academic scholarships to Jordan’s prestigious King’s Academy, secured through President Bostic’s diplomatic engagement with King Abdullah II during his November 30 installation ceremonies. These scholarships specifically target academically qualified students from low-income households.

    Beyond educational support, the initiative adopts an inclusive approach extending to vulnerable populations outside traditional education systems. The government will collaborate with the Barbados Prison Service to develop rehabilitation frameworks using mentorship to facilitate societal reintegration for incarcerated individuals.

    A nationwide mentorship framework will leverage partnerships with religious organizations, athletic associations, and national institutions. Sporting icons will play pivotal roles in shaping youth development, utilizing athletics as a vehicle for instilling discipline and positive values.

    The presidential visit featured cultural performances that received standing ovations and concluded with an interactive dialogue where students engaged the Head of State on leadership, career development, and constitutional responsibilities.

  • Central Bank cautions against sweeping VAT cuts

    Central Bank cautions against sweeping VAT cuts

    The Central Bank of Barbados has issued a stark warning against implementing sweeping reductions to the nation’s 17.5% Value Added Tax (VAT), cautioning that such untargeted fiscal measures could undermine economic stability while failing to deliver meaningful assistance to populations most severely impacted by rising living costs.

    Governor Dr. Kevin Greenidge articulated the Bank’s position during a Wednesday press conference reviewing the country’s 2025 economic outlook. His comments directly addressed campaign promises from opposition parties contesting the February 11 general election, who have pledged significant VAT reductions as a primary mechanism for addressing cost-of-living pressures should they form the next government.

    Dr. Greenidge, drawing upon his extensive experience from the International Monetary Fund, presented a detailed economic analysis questioning the wisdom of broad-based VAT cuts. He emphasized that such blanket reductions would provide financial benefits across all economic segments, including affluent demographics who don’t require assistance, rather than concentrating support where it’s most needed.

    The Governor highlighted implementation challenges, particularly the uncertain ‘pass-through effect’ where merchants and wholesalers might not fully transfer tax savings to consumers. Using automotive taxation as an example, he explained how importers could retain savings rather than reducing consumer prices, especially in economic environments where prices demonstrate downward rigidity.

    Dr. Greenidge advocated for precisely targeted policy measures instead of across-the-board reductions, stating: ‘If your objective is addressing cost of living, you must identify which specific groups you’re trying to impact. Well-designed, targeted measures for vulnerable populations deliver significantly more effective outcomes than broad fiscal changes.’

    He noted that VAT reductions typically prove most effective when the tax system is performing optimally and the objective involves stimulating productive sectors, rather than addressing immediate cost-of-living concerns. The Governor concluded that implementing monitoring mechanisms to ensure merchants pass on tax savings would likely incur administrative costs exceeding the actual benefits delivered to consumers.

  • Drainage Improvement Works Continue in Bolans, Collins and Newfield

    Drainage Improvement Works Continue in Bolans, Collins and Newfield

    The Ministry of Works, Housing, and Transportation in Antigua and Barbuda is spearheading a critical infrastructure initiative, advancing comprehensive drainage enhancement projects across multiple communities. This strategic intervention targets the flood-prone regions of Bolans, specifically the West Palm vicinity, alongside Collins and Newfield. The primary objective is to systematically mitigate recurrent flooding incidents, which have historically disrupted local mobility and compromised public safety. By upgrading the subterranean water management systems, the government aims to fortify road durability and ensure more resilient community infrastructure against extreme weather phenomena. Concurrently, official advisories have been issued, urging motorists and residents within these operational zones to maintain heightened vigilance. The ministry emphasizes the necessity for reduced speeds and increased awareness around active construction sites to safeguard both pedestrians and workers. This project reflects a broader commitment to sustainable urban planning and climate adaptation, aligning with national goals to enhance civic welfare through preemptive environmental management.

  • PSV culture ‘damaging’ children, warns acting DPP

    PSV culture ‘damaging’ children, warns acting DPP

    Barbados’ Acting Director of Public Prosecutions Alliston Seale has issued a stark warning about the deteriorating moral environment within the nation’s public service vehicle (PSV) sector, asserting that the pervasive culture of violence and vulgarity is directly harming schoolchildren and eroding societal values. Speaking during sentencing submissions for convicted murderer Shakira Blackman, Seale delivered an impassioned critique of the PSV industry’s negative influence on youth development.

    The veteran prosecutor described how continuous exposure to violent content, abusive language, and inappropriate behavior on minibuses and ZRs creates psychological distress that impedes children’s educational progress. “They cannot listen to maths; they cannot understand Pythagoras’ theorem,” Seale stated, emphasizing that students arrive at school already overwhelmed by the “ignorance” they encounter during their commutes.

    Seale identified multiple concerning elements within the PSV environment, including drivers’ and conductors’ vulgar speech, explicit musical content, and inappropriate dress standards that children inevitably emulate. He expressed particular concern about the absence of positive role models in this sphere, noting that the lack of uniforms and professional standards undermines efforts to instill discipline in young people.

    The prosecutor connected these environmental factors to broader societal problems, including school violence and future criminal behavior. He questioned contemporary approaches to discipline in the context of reduced corporal punishment, noting that alternative solutions have proven insufficient against rising classroom violence.

    Seale’s comments emerged during legal proceedings concerning Shakira Blackman, who was convicted of murdering 27-year-old Shanice Miller in November 2021. The prosecutor recommended a 40-year starting sentence, citing aggravating circumstances and premeditation. He described how Blackman pursued her victim even after initial defensive actions, ultimately causing fatal injuries near Central Police Station.

    Despite Blackman’s claims of defending a friend, Seale emphasized personal accountability for violent actions. Justice Laurie-Ann Smith-Bovell will deliver sentencing on March 20, with King’s Counsel Andrew Pilgrim representing the convicted individual.

  • Government House hosts Investiture Ceremonies honouring 16 distinguished nation-builders

    Government House hosts Investiture Ceremonies honouring 16 distinguished nation-builders

    The Federation of Saint Kitts and Nevis has formally recognized sixteen exceptional citizens for their profound contributions to national development during two distinguished Investiture Ceremonies at Government House on January 28-29, 2026. Under the auspices of Her Excellency Governor-General Dame Marcella Liburd, the ceremonies celebrated individuals whose dedicated service has significantly advanced various sectors of Kittitian and Nevisian society.

    The inaugural ceremony on January 28th honored eight recipients with the Medal of Honour across diverse fields. Pastor Clive Saunders received recognition for Community Service and Religion, while Etsu Bradshaw-Caines was celebrated for Community Service. Joyah Walters was distinguished in Health and Medicine, Lennox Warner in Business and Entrepreneurship, and Meredith Charles in Security and Defence. The sporting community saw Trevor Huggins honored, alongside Washington J. Fraites in Business and Entrepreneurship, and Stedroy Douglas for his dual contributions to Sports and Community Service.

    January 29th witnessed the presentation of the Companion of the Star of Merit to eight additional exemplary citizens. The honorees included Dorothy Clarke, Lorozine E. Williams, and William V. A. Hodge in Education and Academia; Goldwin Caines, MBE, in Public and Civil Service; Dr. Jerome Thomas in Agriculture; Lydia Claxton in Sports; Pastor Leroy Benjamin in Religion and Spiritual Leadership; and Franklyn Dorset for his work in Law & Justice combined with Sports.

    Prime Minister Honourable Dr. Terrance Drew delivered heartfelt addresses at both ceremonies, emphasizing the significance of the awards. “Your service speaks volumes. Not through loud proclamations but through actions, sacrifice, and steadfast commitment to the common good,” he told recipients. The Prime Minister further reflected that “in a world that often celebrates visibility over value, your recognition today affirms something important. That quiet excellence matters, commitment over time counts, and nation-building is as much about perseverance as it is about vision.”

    The honors were conferred under the National Honours Act, which establishes three merit-based awards: the Medal of Honour, the Companion of the Star of Merit, and the Order of National Hero. These ceremonies represent the nation’s highest recognition of citizen service and contribution to societal advancement.

  • Pundits split on CARICOM election observers

    Pundits split on CARICOM election observers

    Barbados Prime Minister Mia Mottley’s invitation of international election observers has ignited a scholarly debate about electoral integrity and political accountability ahead of the February 11 general election. The move comes amid opposition claims of irregularities within the voter registry managed by the Electoral and Boundaries Commission (EBC).

    Opposition parties have characterized the early election announcement as a ‘snap poll’ and raised substantive concerns about discrepancies in the official voters’ list. Democratic Labour Party leader Ralph Thorne formally requested a postponement on Monday, citing the need to address these electoral list issues.

    Prime Minister Mottley responded by invoking Section 18 of the Representation of the People Act, stating she lacks legal authority to alter the election date. In a strategic countermeasure, she announced the invitation of independent observers from both CARICOM and Commonwealth organizations to monitor electoral proceedings.

    “Independent electoral observers will enable the public to objectively assess our election conduct,” Mottley stated. “This necessary measure protects both the integrity and international reputation of our democratic processes.”

    Political scientist Dr. Kristina Hinds endorsed the decision as a long-overdue safeguard for Barbados’ electoral system. “Observer missions will help identify procedural strengths and weaknesses while ensuring election transparency,” Dr. Hinds noted. She cautioned, however, that while observers might recommend future improvements, they cannot immediately address current voter disenfranchisement issues.

    In contrast, political analyst Dr. George Belle challenged the fundamental premise of inviting observers without concrete evidence of irregularities. “The burden of proof rests exclusively on those alleging electoral misconduct,” Dr. Belle argued. “Without substantiated evidence demonstrating material impact on voters, we risk damaging Barbados’ reputation based on unverified claims.”

    The divergent expert perspectives highlight the tension between proactive electoral transparency and the requirement for evidence-based policy interventions in democratic processes.

  • OP-ED: The Caribbean labour market paradox – What the 2026 ILO report reveals

    OP-ED: The Caribbean labour market paradox – What the 2026 ILO report reveals

    A new report from the International Labour Organization reveals a troubling dichotomy in Caribbean and Latin American labor markets. While unemployment rates continue their downward trajectory across the region, underlying structural weaknesses are creating what experts term a “hollow victory” in employment metrics.

    The ILO’s 2026 Employment and Social Trends report indicates that beneath surface-level improvements lies a more complex reality of stagnating work quality, declining productivity, and entrenched informality. This paradox presents particular challenges for Caribbean nations, where fewer unemployed persons masks the reality that many workers remain trapped in low-productivity, informal, and insecure employment arrangements that ultimately undermine long-term economic growth and social cohesion.

    Informality persists as the region’s most stubborn challenge, with over 51% of workers across Latin America and the Caribbean engaged in informal employment since 2015—showing virtually no improvement over the past decade. The Caribbean demonstrates striking disparities, with Haiti recording 91.0% informality rates, followed by Barbados at 62.0% and Jamaica at 54.6%.

    Youth employment presents particularly alarming trends. After years of gradual improvement, the percentage of young people not in employment, education, or training (NEET) reversed its downward trend in 2024 and is projected to worsen. This development carries dual consequences: diminished lifetime earnings and employment prospects for youth, and weakened productive capacity for regional economies.

    Compounding these challenges, critical sectors including healthcare, education, and agriculture face acute labor shortages despite persistent unemployment elsewhere. This paradox stems largely from outward migration, as highly educated and skilled workers seek better compensation and working conditions in OECD countries. While migration generates benefits through remittances and skills circulation, unmanaged outflows leave essential services understaffed and weaken domestic productive capacity.

    The region’s productivity crisis reveals alarming comparative data. Between 2015 and 2025, labor productivity in Latin America and the Caribbean fell by an average of 0.4% annually, with the Caribbean alone experiencing a 0.6% decline. This contrasts sharply with global productivity growth of 1.7% and high-income countries’ 1.1% average growth during the same period.

    Addressing these challenges requires moving beyond job creation to fundamentally transform job quality. Policy priorities must include revitalizing investment, accelerating technological adoption, supporting formalization within sectors, and expanding access to quality education and training. Regional cooperation on labor mobility and skills development has transitioned from optional to essential for sustainable development.

    The CARICOM Secretariat, alongside member states and social partners, is currently developing a regional labor migration policy and action plan—a promising step toward addressing these systemic challenges. The Caribbean labor market stands at a critical crossroads, where the central question is no longer whether people are working, but whether work itself can become a genuine engine for prosperity, inclusion, and resilience.

  • Amazon is laying off 16,000 employees as AI battle intensifies

    Amazon is laying off 16,000 employees as AI battle intensifies

    In a major corporate restructuring, Amazon has revealed plans to eliminate 16,000 positions, marking its second substantial workforce reduction within a three-month period. This strategic move positions the e-commerce giant to enhance operational agility and accelerate decision-making processes as it intensifies its artificial intelligence initiatives.

    Company executives detailed the rationale behind these cuts in an official blog post, emphasizing the need to streamline organizational hierarchy and eliminate bureaucratic obstacles. Beth Galetti, Amazon’s Senior Vice President of People, explained the company’s direction: “Our organizational strengthening efforts focus on reducing management layers, increasing ownership accountability, and removing procedural bottlenecks to foster innovation.”

    This latest workforce reduction follows October’s announcement of 14,000 job eliminations, both representing approximately 9% of Amazon’s corporate employees. The company maintains over 350,000 corporate staff members, remaining America’s second-largest private employer after Walmart.

    CEO Andy Jassy’s vision centers on maintaining startup-like nimbleness despite Amazon’s massive scale, particularly crucial as artificial intelligence transforms the technology landscape. The company faces fierce competition from Microsoft, Google, Meta, and OpenAI in developing advanced computing infrastructure and large language models that are expected to drive future economic growth.

    Galetti clarified that these workforce reductions do not signal a new operational pattern, despite Jassy’s previous predictions about AI-driven efficiency gains reducing employment needs. Instead, Amazon will continue strategic hiring in business areas critical to future success while evaluating organizational capacity for customer-focused innovation.

    The transition process for affected employees includes a 90-day internal job search period, with severance packages and additional benefits for those not rehired within the company. These layoffs coincide with Amazon’s separate announcement regarding the closure of its Amazon Fresh and Amazon Go grocery ventures, reflecting a renewed focus on Whole Foods branded stores.

    Jassy has been transparent about AI’s transformative impact, noting that generative AI implementation will fundamentally reshape job requirements. While certain roles will diminish, new positions will emerge to support advancing technology. He anticipates widespread adoption of AI agents across all industries, though current data suggests fears of broad-based job displacement may be exaggerated.

    Recent analysis from investment firm Vanguard indicates that occupations most exposed to AI automation are actually growing faster than pre-pandemic rates, outpacing overall job growth. While some companies report eliminating entry-level positions due to automation capabilities, evidence suggests AI has not yet caused widespread employment disruption across the technology sector.