Carib Scope

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  • Pulse continues pivot amidst business reset

    Pulse continues pivot amidst business reset

    Pulse Investments Limited is executing a comprehensive business transformation following a significant 34% decline in net profit, which fell from $542.95 million to $357.65 million for the 2025 fiscal year. The Jamaican entertainment and real estate company is fundamentally restructuring its traditional modeling operations while converting its Villa Ronai property into an upscale five-star resort destination.

    The financial downturn primarily resulted from the company’s strategic decision to cease recognizing advertising entitlements and in-kind sponsorship as revenue until establishing consistent monetization capabilities. This conservative accounting approach contributed to the complete absence of the previously substantial $513.99 million advertising revenue stream. Cash sponsorship and branding revenues experienced a dramatic contraction from $77.38 million to just $3.45 million, while model agency income plummeted from $66.53 million to $2.70 million.

    Chairman Hilary Phillips characterized the financial results as reflecting ‘deliberate de-risking decisions’ and ‘a reset of certain revenue streams’ during a period of strategic refocusing. The company’s property rental division demonstrated relative stability, generating $151.35 million from its Trafalgar Road commercial offices and Villa Ronai properties, representing only a modest 4% decrease from the previous year.

    The transformation initiative includes reimagining the company’s historic modeling business through a digital-first approach with deeper integration across media and hospitality assets. This strategic shift acknowledges fundamental changes in the global media landscape that diminished the financial returns of traditional events like Caribbean Fashion Week, which Pulse hosted for 19 consecutive years before COVID-19 disruptions.

    Critical to the hospitality vision is the proposed restructuring of Pulse’s $803.64-million bond facility, with discussions ongoing between Barita Investments Limited and JCSD Trustee Services Limited. The company’s financials revealed no contractual interest or principal payments were made according to the original schedule during FY2025, with an empty interest reserve account contrasting sharply with the $31.03 million balance in 2023.

    Despite these challenges, Pulse maintained an asset base of $12.10 billion, though current assets declined 67% to $37.67 million. The company ended the fiscal year with $33.58 million in cash, supported by undrawn bond portions totaling $273.30 million. Shareholder’s equity increased 4% to $9.61 billion against total liabilities of $2.48 billion.

    The strategic pivot occurs amid significant leadership changes following the passing of co-founder Kingsley Cooper in June 2024, the resignation of former co-managing director Romae Gordon, and the passing of director Jeffrey Cobham. The reduced four-member board must expand to meet regulatory requirements, particularly for the audit committee which currently comprises only Phillips and Eleanor Brown.

    Pulse’s stock closed at $1.17 recently, delivering a 2% gain for 2025 with a market capitalization of $7.63 billion. The company will hold its annual general meeting on April 9 at the Villa Ronai property as it continues its transition toward hospitality and lifestyle real estate development.

  • DEFYING DISRUPTION

    DEFYING DISRUPTION

    Despite ongoing recovery efforts from Hurricane Melissa’s devastation, Jamaica’s 2025 Black Friday shopping event demonstrated remarkable economic resilience with transaction volumes unexpectedly surpassing the previous year’s figures. According to data released by JETS, operator of the MultiLink electronic switching network, consumer spending reached $2.45 billion on November 28, 2025, slightly exceeding the $2.41 billion recorded during the 2024 shopping event.

    The performance is particularly noteworthy given that only 86.6% of ATMs and 87.5% of point-of-sale terminals were operational during the shopping period—significantly below normal capacity levels. JETS CEO Edmundo Jenez characterized the results as “solid” considering the physical and economic disruptions retailers continue to navigate nationwide.

    Recovery progress remains uneven across the island, with stark regional disparities in financial infrastructure restoration. While St. Thomas has achieved full restoration and the Corporate Area along with several eastern and central parishes operate at 92-99% capacity, western parishes face considerably slower recovery. St. Ann and St. James hover around 73% operational ATMs, while Trelawny and Westmoreland remain in the mid-60s percentile. The most severely affected regions include St. Elizabeth at 51% and Hanover at just 43% functionality.

    Retail experiences varied significantly based on location and merchandise. Home and Things’ Cross Roads branch reported one of its strongest turnouts in three years, with customers arriving as early as 6:00 am to capitalize on 30-70% discounts for home improvement items. Meanwhile, a neighboring furniture and appliance retailer experienced approximately 50% lower sales despite aggressive discounting, with management noting subdued consumer sentiment potentially influenced by awareness of ongoing struggles in western parishes.

    International shoppers contributed to the positive performance, with Zimbabwean national Oliver Murima and his wife purchasing over 15 pairs of shoes and multiple sock packages to take back home, specifically timing their shopping for Black Friday discounts.

    JETS anticipates ATM availability will reach 90% and POS terminals 95% by mid-December, though approximately 44 ATMs (5% of the national fleet) may not return to service before 2026 due to severe flood damage, vandalism, and prolonged utility outages.

  • JAMROCKING

    JAMROCKING

    Jamaica’s national basketball squad, the ‘Jamrockers,’ has achieved a monumental victory in the FIBA World Cup Americas Qualifiers, defeating Puerto Rico 97-92 on their home court in San Juan. This triumph marks their second consecutive win in Group B, propelling them to a joint top position with tournament favorites Canada, both teams holding four points.

    The game was a showcase of exceptional teamwork and individual talent. Chase Audige led the scoring with 20 points, supported by Romaine Thomas’s 18 points and a dominant double-double from Kofi Cockburn, who contributed 15 points and 12 rebounds. Team captain Kentan Facey, adding 9 points and 10 rebounds, emphasized that the team’s cohesion was the cornerstone of their success against a highly favored Puerto Rican team.

    Beyond the court, the victory carries profound significance for a nation recently battered by Hurricane Melissa. Facey, hailing from the impacted parish of Trelawny, stated the team was driven by a desire to provide a positive rallying point for Jamaicans. He highlighted the win as proof of basketball’s growing validity and potential to put Jamaica on the global sports map.

    With four critical games remaining in the qualifiers, Head Coach Rick Turner acknowledged the historic start but cautioned against complacency. He stressed that the primary objective remains advancing from what he described as ‘the toughest pool in the tournament.’ The team’s immediate focus is on their upcoming fixtures against the Bahamas on February 26 and a pivotal clash with Canada on March 1. Two more victories would secure Jamaica a spot in the next round, edging them closer to qualification for the 2027 FIBA World Cup in Qatar.

  • Caribbean States Meet in Antigua for Nuclear Safeguards Training

    Caribbean States Meet in Antigua for Nuclear Safeguards Training

    A landmark regional initiative to enhance nuclear security protocols is underway in Antigua and Barbuda this week. Government officials from eight Caribbean nations have convened for a specialized workshop focused on strengthening the reporting of nuclear material inventories, specifically under the modified Small Quantities Protocol (SQP).

    The intensive, week-long training program, hosted at the Trade Winds Hotel, represents a significant collaborative effort. It is jointly organized by the Antiguan government alongside major international bodies, including the US Department of Energy, the National Nuclear Security Administration (NNSA), the International Nuclear Safeguards Engagement Programme, and the International Atomic Energy Agency (IAEA).

    In his opening address, Ambassador Dr. Clarence Pilgrim, Permanent Secretary in the Ministry of Foreign Affairs, emphasized the critical nature of the event. He stated that the workshop is both ‘timely and essential,’ underscoring a fundamental principle of global security: all nations, including those with minimal or no nuclear material, are bound by international non-proliferation obligations. Dr. Pilgrim elaborated that the core objective of the sessions is to equip participating states with the advanced technical expertise required to compile precise nuclear inventories and ensure their accurate submission to the IAEA.

    The delegations in attendance comprise technical and policy experts from St. Kitts and Nevis, St. Vincent and the Grenadines, St. Lucia, Suriname, the Bahamas, Grenada, Belize, and the host nation, Antigua and Barbuda. According to organizing officials, this capacity-building exercise is designed to directly support the region’s ongoing endeavors to fulfill the stringent requirements set forth by the Comprehensive Safeguards Agreement and its Additional Protocol. These agreements are considered the cornerstone of the global nuclear non-proliferation framework, and enhanced compliance from Caribbean states marks a proactive step toward reinforcing worldwide security architecture.

  • Reyme: Staatsbezoek moet leiden tot helende samenwerking en perspectief samenleving

    Reyme: Staatsbezoek moet leiden tot helende samenwerking en perspectief samenleving

    In a landmark address during the extraordinary parliamentary session marking the state visit of King Willem-Alexander and Queen Máxima, A20 faction leader Steven Reyme articulated a compelling vision for transforming Suriname-Netherlands relations. The Monday session became a platform for Reyme to outline principles of mutual respect, equality, and future-oriented cooperation that should define bilateral ties.

    Reyme emphasized the symbolic significance of the royal visit occurring exactly fifty years after Suriname’s independence, noting the historical parallel between the former Queen and Prime Minister who witnessed independence and today’s female President and King. This chronological symmetry, he suggested, creates an ideal moment to inaugurate a new chapter in relations where historical acknowledgment progresses alongside societal development and perspective.

    The parliamentarian highlighted the crucial role of the Surinamese diaspora in the Netherlands, numbering over 360,000 individuals, whom he described as “living bridges between our nations.” Reyme praised their contributions to Dutch society while maintaining strong connections to Suriname, seeing this dual allegiance as embodying the strength of shared history, culture, and future aspirations.

    Addressing Suriname’s contemporary challenges, Reyme noted the nation stands at the threshold of significant transformations: youth demanding opportunities, an economy requiring diversification, and communities seeking stability and development. He expressed openness to cooperation facilitating knowledge transfer, trade, investments, education, security, sports, and culture—but emphasized this must occur “without dependency, through mutual respect.”

    The faction leader acknowledged and appreciated recent Dutch steps toward recognition and apologies, stating that “the path of healing cooperation, historical acknowledgment, and shared responsibility must continue to be pursued.” Reyme expressed hope that this state visit might initiate a new period of respectful collaboration focused on peace, development, justice, and mutual understanding between the two nations.

  • Hilaire reacts to win, calls Election Day “brutal”

    Hilaire reacts to win, calls Election Day “brutal”

    Dr. Ernest Hilaire, the reelected Member of Parliament for Castries South, characterized the recent election day as an exceptionally demanding experience, labeling it “brutal” following one of the most arduous campaigns of his political tenure. His remarks came as the Saint Lucia Labour Party (SLP) achieved a decisive return to governance, capturing 14 parliamentary seats. With two independent candidates openly pledging support to the incoming administration, political analysts are already interpreting the results as an effective 16-1 triumph.

    Addressing supporters shortly after his electoral success, Hilaire acknowledged the tremendous strain the election had placed on both himself and his campaign team. He attributed their victory to remarkable perseverance and shared commitment to their constituency’s development agenda. “I possess the most exceptional team, truly, because today proved extraordinarily difficult,” Hilaire stated. “They comprehend the transformative vision we champion for Castries South… Substantial work remains ahead of us.”

    While expressing profound gratitude toward his supporters, the parliamentarian did not refrain from critiquing his political opponent, Tommy Descartes of the United Workers Party (UWP). Hilaire accused Descartes of perpetuating outdated political tactics rather than pioneering a refreshed approach to public service. “Rather than establishing a novel trajectory for political engagement in our nation, he entrenched the familiar patterns of negativity,” Hilaire remarked.

    Looking forward, Hilaire emphasized that the priority now transitions to effective governance and advancing the developmental projects and policy initiatives outlined for the Castries South constituency during the campaign.

  • Antigua and Barbuda Opens Hotel Registration for CHOGM 2026

    Antigua and Barbuda Opens Hotel Registration for CHOGM 2026

    The Antigua and Barbuda Hotels and Tourism Association (ABHTA) has initiated a comprehensive registration process for all accommodation providers in preparation for the prestigious Commonwealth Heads of Government Meeting (CHOGM), scheduled for November 1-4, 2026. This high-profile international gathering is projected to attract approximately 5,000 delegates to the twin-island nation, presenting what industry leaders characterize as an unprecedented opportunity to demonstrate Caribbean hospitality excellence on the global stage.

    Lodging establishments across the spectrum—from luxury resorts to boutique guesthouses—are being mobilized to participate in the national preparation effort. The ABHTA has established a December 12, 2025 deadline for properties to submit their specially designated CHOGM 2026 rates. This critical data will enable the official CHOGM Accommodation Team to compile a comprehensive directory of approved accommodations for international delegates.

    The association has streamlined the registration process through a dedicated online portal (https://bit.ly/chogmhotels), emphasizing the importance of broad sector participation. In its official communication, the ABHTA highlighted the tourism industry’s pivotal role in fulfilling the nation’s hosting responsibilities successfully. The organization has additionally committed to providing ongoing support and guidance to accommodation providers throughout the registration and preparation phases, ensuring the country presents a unified and professional hospitality front to the Commonwealth community.

  • 39 Pounds of Cannabis Found in Old Capital

    39 Pounds of Cannabis Found in Old Capital

    In a significant law enforcement operation on Monday, December 2, 2025, Belize City police uncovered a substantial cache of illicit cannabis weighing approximately 39.45 pounds. The discovery occurred during a targeted search of a swampy area within the city limits, where authorities located two large garbage bags concealed within the terrain.

    Upon closer inspection, officers discovered the bags contained two crocus sacks holding seventeen individually wrapped parcels of cannabis. The method of concealment in a natural, waterlogged area suggests sophisticated attempts to avoid detection by law enforcement agencies.

    Police officials have confirmed that all seized parcels were properly labelled and secured as found property following standard evidence collection protocols. The seizure represents one of the more significant drug interdictions in the Belize District recently, highlighting ongoing efforts to combat narcotics distribution networks in the region.

    The operation demonstrates continued vigilance by Belizean authorities against drug trafficking activities, particularly in urban areas where such criminal operations often establish distribution points. No arrests have been reported in connection with the seizure at this time, though investigations remain ongoing to identify those responsible for the concealed narcotics.

  • Caribbean Development Bank official highlights link between justice and economic progress at CCJ law event

    Caribbean Development Bank official highlights link between justice and economic progress at CCJ law event

    At the 8th Biennial Law Conference hosted by the Caribbean Court of Justice (CCJ) Academy for Law, Dr. Isaac Solomon, Vice President of Operations at the Caribbean Development Bank (CDB), delivered a powerful address connecting judicial integrity to sustainable development. The event, marking the CCJ’s 20th anniversary under the theme “The CCJ at 20: Reflections on Caribbean Jurisprudence,” served as a platform for Dr. Solomon to articulate the indispensable role of justice in economic advancement.

    Dr. Solomon emphasized the CDB’s decade-long partnership with the CCJ, noting that equitable justice systems form the foundation for inclusive economic growth and poverty reduction. “Justice is the invisible engine that powers economic and social progress,” he declared. “When justice is reliable, investors feel confident. When rights are protected, communities become resilient. When systems are transparent, inequality declines.”

    The address highlighted how robust legal frameworks create conducive environments for investment, build trust in public institutions, and ensure fair treatment for marginalized groups. The CDB’s support has focused on governance improvements and institutional strengthening through multiple initiatives, including previous conferences addressing criminal justice reform and transnational legal cooperation.

    Looking toward the future, Dr. Solomon called for enhanced national justice systems and deeper regional integration. He advocated for “a justice ecosystem that is more deeply integrated, technologically-enabled, people-centered, and capable of supporting the ambitious development agenda of a dynamic Caribbean Community.”

    The conference itself represented a significant milestone, bringing together legal practitioners, policymakers, academics, and development partners to celebrate two decades of Caribbean jurisprudence and strategize on future justice initiatives. Dr. Solomon reaffirmed CDB’s commitment to ensuring legal frameworks adapt to evolving regional needs, ultimately working toward a more just, equitable, and resilient Caribbean.

  • Govt renews papaya revival push as disease pressures linger

    Govt renews papaya revival push as disease pressures linger

    Barbados has initiated a comprehensive scientific program to resuscitate its once-thriving papaya industry, decades after its collapse from disease. Agricultural authorities launched a two-day intensive workshop focused on Papaya Nutrient and Integrated Pest Management this Tuesday, marking a significant step in agricultural rehabilitation efforts.

    Acting Chief Agricultural Officer Michael James revealed the workshop forms part of a broader strategy to rebuild an industry that was virtually destroyed during the 1980s by the devastating bunchy top disease. “This pathogen fundamentally wrecked our papaya sector,” James stated, highlighting the historical impact that continues to affect agricultural economics.

    The Ministry’s agronomy team has been conducting extensive research into disease-resistant papaya varieties that demonstrate greater tolerance to infections. James emphasized the changing agricultural landscape: “Constant spraying is no longer sustainable. With increasing bans on various pesticides, we’re prioritizing the development of biologically tolerant varieties. While we’ve achieved promising results, further research remains imperative.”

    James stressed the critical importance of collaborative efforts among key stakeholders including the Inter-American Institute for Cooperation on Agriculture (IICA), the Caribbean Agricultural Research and Development Institute (CARDI), the University of the West Indies (UWI), and government agencies. “Uncoordinated individual efforts hinder progress. Strategic collaboration prevents duplication and accelerates viable solutions,” he noted.

    The technical workshop incorporates multifaceted sessions covering advanced nutrient management protocols, contemporary pest control methodologies, and practical field tours designed to integrate theoretical knowledge with hands-on agricultural practices. This integrated approach aims to equip farmers and agricultural professionals with sustainable techniques for industry restoration.