Carib Scope

分类： business

  • Seiveright: Gov’t to pump more resources into global digital services sector

    Seiveright: Gov’t to pump more resources into global digital services sector

    The Jamaican government is significantly increasing its financial commitment and promotional initiatives to fortify the nation’s global digital services industry, a move identified as vital for ensuring economic stability and generating youth employment. The announcement was made by Delano Seiveright, State Minister in the Ministry of Industry, Investment and Commerce, during his address at the JMMB Group Thought Leadership Breakfast in Montego Bay.

    Minister Seiveright emphasized the sector’s strategic importance, highlighting its direct role in creating immediate job opportunities, securing stable foreign exchange earnings, and facilitating rapid professional skills development. He revealed that the industry currently provides employment for over 50,000 Jamaicans, with a significant majority being young professionals concentrated in western Jamaica, Kingston, and Portmore.

    Beyond economic metrics, the minister praised the sector for cultivating a highly skilled workforce. He noted that individuals trained in the Business Process Outsourcing (BPO) environment develop exceptional customer service abilities and resilience under pressure, making them sought-after talent across various industries.

    This reinforced commitment follows recent operational disruptions in Montego Bay caused by Hurricane Melissa. In response to these challenges, the government plans to intensify support mechanisms to ensure sector continuity and growth. The ministry, alongside agencies such as Jampro and the Jamaica Special Economic Zones Authority, will lead this revitalized focus.

    Seiveright also recalled the sector’s proven resilience during the COVID-19 pandemic, where it maintained functionality despite global disruptions, underscoring its critical role in Jamaica’s economic infrastructure.

  • Storm shock reveals Jamaica’s narrow and fragile tax base

    Storm shock reveals Jamaica’s narrow and fragile tax base

    KINGSTON, Jamaica – A devastating hurricane has laid bare fundamental structural weaknesses within Jamaica’s taxation framework, compelling severe downward revisions to fiscal revenue projections despite years of superficially strong tax performance. According to a comprehensive assessment by the Independent Fiscal Commission (IFC), Hurricane Melissa has triggered a dramatic reassessment of the nation’s fiscal stability.

    The Jamaican government has been forced to slash its tax revenue forecast for the 2025/26 fiscal year by a substantial $80.5 billion. This adjustment signals a notable decline in the tax-to-GDP ratio, which is now anticipated to drop to 24.9 percent, effectively erasing previous fiscal gains.

    Prior to the hurricane’s impact in October, tax collections demonstrated steady expansion, recording a 6.9 percent year-on-year growth during the first half of the fiscal year. This performance was primarily fueled by vigorous domestic economic activity and robust tourism-related revenue streams.

    However, the IFC’s analysis reveals that this apparent strength was both highly concentrated and cyclical in nature, creating significant vulnerability to sudden economic disruptions. The commission identified that pre-hurricane revenue outperformance was driven predominantly by volatile sources including contractors’ levies and stamp duties—both closely tied to construction and property market fluctuations.

    Conversely, more structurally stable revenue sources consistently underperformed expectations. Taxes derived from bauxite mining operations, dividend income, and self-employed individuals all fell substantially below projections, highlighting the system’s inherent instability.

    When Hurricane Melissa severely disrupted Jamaica’s crucial tourism sector, construction industry, and general business operations, these underlying weaknesses were abruptly exposed. The immediate consequence was markedly reduced tax collections, compelling the government to undertake a comprehensive reassessment of its revenue outlook.

    The IFC further highlighted complications arising from Jamaica’s significant dependence on one-off and non-tax revenue inflows. These include proceeds from airport securitization arrangements and various disaster-related financial payouts. While providing temporary fiscal support, such sources cannot replace the need for a genuinely diversified and resilient taxation base, the commission emphasized.

    “Revenue performance prior to the hurricane effectively masked deep-seated concentration risks,” the IFC stated, particularly noting that economic shocks affecting tourism and construction disproportionately impact fiscal outcomes.

    The hurricane inflicted an estimated US$8.8 billion in damages, equivalent to approximately 41 percent of Jamaica’s GDP. This catastrophic event has simultaneously intensified spending pressures related to nationwide reconstruction efforts and essential social support programs.

    The IFC cautioned that rebuilding activities will likely stimulate import growth, thereby straining the country’s external balance. This dynamic suggests that revenue recovery may substantially lag behind expenditure requirements throughout the medium term, creating additional challenges for effective fiscal management.

    Jamaica’s experience serves as a stark reminder of the unique challenges confronting small, open economies, where periods of strong economic growth can generate revenue increases that prove unsustainable when economic conditions inevitably deteriorate.

  • Super-Satisfying Experience @Ramen Haus

    Super-Satisfying Experience @Ramen Haus

    KINGSTON, Jamaica – A groundbreaking culinary venture is transforming Jamaica’s food scene with the introduction of its first self-service ramen establishment. Ramen Haus Jamaica, launched in September under CEO Janelle Wilkinson’s leadership, has pioneered an innovative DIY dining model that empowers customers to craft personalized Asian-inspired meals.

    The unique concept begins with a sanitization protocol before patrons embark on their culinary journey. Customers select from an extensive array of flavored ramen bases including beef, pork, chicken, and seafood varieties. The customization continues with fresh toppings ranging from scallions, corn, and pak choi to premium additions like boiled eggs, steamed wontons, shrimp, and calamari.

    After assembling their ingredients on individual trays, patrons proceed to induction stovetops where they cook their creations for approximately four minutes. The interactive cooking process, guided by knowledgeable staff like team member Shauna Kay Cole, provides both entertainment and culinary education. For those preferring softer noodles, extended cooking times are available.

    The establishment complements its main offerings with house-made kimchi and Asian-inspired beverages. Dining accommodations include indoor high-bar seating and intimate two-seater outdoor tables, catering to various group sizes from solo diners to families.

    Financial accessibility marks another advantage, with four meals and beverages totaling J$6,560 before gratuity. The venue accepts all major debit/credit cards and cash, while providing complimentary parking – a rare convenience in New Kingston’s bustling business district.

    Located at 8 St Lucia Crescent on the ground floor of The Hub Coworking Building, Ramen Haus Jamaica operates Monday through Saturday from 10:30 AM to 6:00 PM. The establishment can be contacted at 876-227-4777 or ramenhausjamaica@gmail.com, with additional information available on Instagram @ramenhausja.

    The concept has garnered praise from food industry experts including Jamaica Observer Table Talk Food Awards judge Kadean Vendryes, who noted the perfect execution of both meal quality and the novel dining experience.

  • Tourism records “unprecedented” 12.5 million visitors for 2025

    Tourism records “unprecedented” 12.5 million visitors for 2025

    The Bahamas has achieved unprecedented tourism success in 2025, with Deputy Prime Minister Chester Cooper announcing a record-breaking 12.5 million visitor arrivals—the highest in the nation’s history. This represents an 11.4% year-over-year increase, significantly surpassing both 2024 numbers and pre-pandemic levels by more than 72%. The remarkable growth was driven primarily by sea arrivals, which exceeded 10.6 million visitors, marking a 14% annual increase and nearly double 2019 figures.

    Minister Cooper, who oversees Tourism and Investments, credited this achievement to strategic relationship-building, enhanced port operations, and substantial infrastructure developments. He emphasized that these numbers translate directly into economic benefits: “They represent jobs and salaries, shifts being filled, inventory purchased, tours booked, taxis running, and restaurants with busy marinas.”

    While foreign air arrivals experienced a slight decline of 1.6% to 1.7 million visitors due to global aviation disruptions and weather challenges, stopover visitor numbers remained strong at 1.8 million—still above pre-pandemic benchmarks.

    Grand Bahama emerged as a standout success story, recording over 1.1 million arrivals—the first time exceeding one million visitors in 22 years. The island saw air arrivals surge by 20% compared to 2024 and more than 30% above pre-pandemic levels. The opening of Celebration Cay contributed significantly to a 90% year-over-year increase in sea arrivals, more than doubling 2019 numbers.

    Abaco also celebrated record-breaking performance with nearly 520,000 visitors, driven by both air and sea arrivals. The destination achieved a 5.2% increase in air arrivals, ranking as the nation’s second-fastest growing destination by air traffic.

    Despite these achievements, opposition leader Michael Pintard of the Free National Movement questioned whether these tourism gains are benefiting ordinary citizens. He argued that many Bahamians “don’t feel” the economic impact despite government claims of record growth.

    In response, Cooper expressed disappointment that some political figures appear to be “rooting for the failure” of the country’s tourism sector for political gain. He maintained that the tourism success reflects “sustained global demand, a strong brand, and a tourism strategy that’s delivering economic impact across the country.”

  • Kintyre Holdings takes full ownership of Kulcha Rum

    Kintyre Holdings takes full ownership of Kulcha Rum

    KINGSTON, Jamaica – Jamaican investment firm Kintyre Holdings (JA) Limited announced Tuesday its complete acquisition of Kulcha Rum, obtaining the remaining shares to secure full ownership of the domestic spirits producer. The financial details of the transaction, including the purchase value and prior stake, remain undisclosed.

    With 100% control, Kintyre aims to streamline management and accelerate the brand’s expansion in both local and international markets. The company is currently negotiating with a distribution partner to enhance retail availability and on-premise presence within Jamaica while exploring export opportunities. A selective rebranding initiative and market-sensitisation campaign are also underway in preparation for a wider product rollout.

    In parallel, Kintyre Holdings is engaging in discussions with potential strategic investors from Jamaica and abroad to secure additional capital and market access, though no formal agreements have been finalized. Operational changes include the strengthening of Kulcha Rum’s management team and the appointment of a new President and CEO, scheduled to assume the role on March 1, 2026. A board of directors with industry expertise is also being formed.

    Adding a cultural dimension to the commercial strategy, the company has provisionally secured a commitment from a prominent Jamaican dancehall artist to serve as brand ambassador, pending final contractual agreements.

    Tyrone Wilson, Chairman, President, and CEO of Kintyre Holdings, emphasized the cultural significance of the venture: “Rum is more than a product in Jamaica—it’s culture, history, celebration, and identity.”

    Kintyre Holdings (JA) Limited is an investment holding company focused on acquiring and developing businesses in selected sectors.

  • US-dollar: ‘Gewonde hegemonie’ of veilig als de machtigste valuta ter wereld?

    US-dollar: ‘Gewonde hegemonie’ of veilig als de machtigste valuta ter wereld?

    A strategic shift is underway in global finance as BRICS nations intensify their campaign to reduce dependence on the US dollar in international trade. This movement, spearheaded by developing economies across the Global South, represents the most significant challenge to dollar dominance since the currency established its hegemony after World War II.

    The recent integration of Standard Bank—Africa’s largest bank by assets—into China’s Cross-Border Interbank Payment System (CIPS) marks a pivotal development. This connection enables African businesses to conduct direct transactions with China in renminbi, eliminating the need for dollar intermediation. Similar initiatives are proliferating: Brazil now settles soybean exports to China in local currencies, while India and the UAE conduct trade in rupees and dirhams. China has also established yuan-based trade agreements with numerous partners including Argentina, Iraq, and Saudi Arabia.

    Beyond bilateral arrangements, the BRICS coalition is developing more comprehensive alternatives. Project mBridge, a multi-central bank digital currency platform utilizing blockchain technology, aims to facilitate trade without dollar involvement or reliance on the SWIFT messaging system. Although not yet operational, a working model is anticipated at the upcoming BRICS summit in India.

    Analysts identify multiple drivers behind this de-dollarization trend. Sanusha Naidu, foreign policy analyst at South Africa’s Institute for Global Dialogue, highlights the ‘hidden cost’ imposed by dollar transactions that ultimately benefits the United States. Additionally, growing concerns about US political unpredictability and mounting national debt—now exceeding $38 trillion—have eroded confidence in dollar stability, as reflected in rising gold and silver prices.

    Despite these developments, experts caution that dollar supremacy remains secure for the foreseeable future. Investment analyst Chris Weafer notes that the dollar continues to serve as the primary pricing currency for oil and commodities, while maintaining its status as the dominant reserve currency among central banks. The lack of viable alternatives ensures continued dollar dominance in the short to medium term.

    However, the strategic direction is clear. Countries seek not necessarily to replace the dollar but to diversify settlement systems and avoid Western-controlled financial infrastructure. As Professor Danny Bradlow of the University of Pretoria observes, a system less dependent on one nation’s monetary policy would reduce vulnerability for all participants.

    The ultimate transformation of global currency architecture, experts suggest, would require the ‘petroyuan’ replacing the ‘petrodollar’ as the primary oil pricing and settlement currency—a development that would fundamentally alter the dollar’s global standing. While such a shift remains distant, the current trajectory indicates a gradual but persistent decline in dollar centrality within the international financial system.

  • Inflatie in december 2025 op 11,4%, prijzen blijven stijgen

    Inflatie in december 2025 op 11,4%, prijzen blijven stijgen

    Suriname’s annual inflation rate reached 11.4% in December 2025, according to preliminary data released by the General Bureau of Statistics Foundation (ABS). The latest figures indicate a modest 0.4% month-over-month increase in consumer prices compared to November 2025. While representing a significant improvement from the peak inflation years of 2021-2023, the current price levels continue to exert substantial pressure on household purchasing power across the South American nation.

    Critical analysis of the inflation components reveals that food, housing utilities, and healthcare services remain the primary drivers of price escalation. Healthcare costs have demonstrated particularly dramatic annual increases, with additional significant contributions from restaurant dining expenses and alcoholic beverages alongside tobacco products. Conversely, certain product categories including fruits and vegetables experienced mild price reductions during December, though these isolated decreases do not indicate structural relief as other essential goods maintain elevated pricing.

    The ABS emphasized that reported inflation figures represent weighted averages that may not accurately reflect individual consumer experiences. December 2025 witnessed extraordinary price volatility across specific products, ranging from -49% to +600% monthly variations. Even more strikingly, the period from January 2024 through December 2025 recorded price fluctuations spanning -67% to +600%, explaining why many households perceive living costs as substantially higher than official statistics suggest, particularly regarding daily necessities and fixed expenses.

    Economists note that while inflation has clearly decelerated compared to previous years, this moderation does not automatically translate to purchasing power recovery. Prices continue their upward trajectory—albeit at a reduced pace—while wages and incomes for large population segments fail to keep pace with the persistent cost increases, creating ongoing economic strain for Surinamese families.

  • FLASH : Call for applications for Women Entrepreneurs

    FLASH : Call for applications for Women Entrepreneurs

    The Haitian Ministry for the Status of Women, under Minister Pedrica Saint Jean, has officially announced the commencement of applications for the second cohort of the Women’s Entrepreneurship Support Project (PAEF). This strategic initiative, originally developed by the Ministry of Commerce and Industry, represents a significant governmental effort to bolster female economic participation nationwide.

    The comprehensive program is designed to deliver both technical expertise and financial resources to women-owned enterprises and those with innovative, revenue-generating ventures. The project specifically targets established business leaders, women with pioneering project concepts, and those seeking business expansion or modernization opportunities. Eligibility requires physical business establishment within Haiti’s territories and current non-participation in other MCI initiatives.

    Priority consideration will be given to ventures operating within key economic sectors including agricultural production, livestock management, fisheries, manufacturing industries, artisanal crafts, waste processing and recycling, tourism infrastructure, technological innovation, and logistics services. The application window remains open for a limited period from January 27th through 30th, 2026.

    Prospective applicants must utilize the official business plan template available through the Ministry’s designated online portal. All submissions must be completed electronically via the provided digital form, as paper applications will not be accepted. Minister Saint Jean emphasizes the transformative potential of this initiative, urging qualified women entrepreneurs across all regions to participate in this groundbreaking economic empowerment opportunity.

  • Protesters Push Back Hard Against BTL Merger

    Protesters Push Back Hard Against BTL Merger

    BELIZE CITY — An unusual alliance of labor unions and political factions converged outside the Belize Telemedia Limited (BTL) headquarters on January 27, 2026, mounting substantial resistance against the proposed acquisition of Speednet (Smart). What began as a peaceful demonstration escalated into a significant display of public dissent against the multimillion-dollar telecommunications consolidation.

    The protest commenced at 8:00 AM with demonstrators quietly lining St. Thomas Street, but within hours swelled to a substantial crowd featuring representatives from multiple influential organizations. The National Trade Union Congress of Belize (NTUCB), Christian Workers Union, Public Service Union, and Belize Energy Workers Union stood alongside United Democratic Party (UDP) supporters—a remarkable coalition transcending traditional political divides.

    NTUCB President Ella Waight emphasized the strategic monitoring of BTL’s movements, stating, “We are very respectful people. We are holding the peace. But we hope we can continue holding the peace. As long as they do the right thing and don’t do anything today, it will remain like that.”

    The demonstration gained urgency following rumors that BTL’s board would convene to finalize the acquisition decision. Notably, the anticipated meeting had been canceled the previous evening, though protesters maintained their vigil. Police established a secure perimeter around the compound while employees watched uneasily from behind office windows.

    Union leaders articulated specific objections to the merger. Christian Workers Union President Leonora Flowers referenced historical precedents: “There is too much at stake here for Belizeans to just sit back and watch it go through. We have had this before in the past with this same administration.” Public Service Union President Dean Flowers challenged national complacency: “We need to understand that we are not a country of sheep and this sheepish lifestyle and behavior that we have exhibited needs to be done away with.”

    Adding theatrical protest, Wave Morning Show host Alfonso Noble appeared in a full bacon costume—a pointed critique aimed at BTL Chairman Markhelm Lizarraga, who owns a meat shop. Noble declared, “They are taking public money to buy a private company and there is absolutely no justification whatsoever.”

    Former employees joined the protest demanding outstanding severance payments, questioning how BTL could pursue a massive acquisition while allegedly failing to meet existing financial obligations. Emily Turner, past president of the Belize Communication Workers Union, noted the reduced acquisition price: “Remember they started at wanting to acquire three or four companies for a hundred and eighty million. So a hundred million has dropped out. So we don’t think there should be any delay in BTL having the money to cover this severance.”

    The event signals deepening concerns about telecommunications consolidation in Belize, with the broader debate about the nation’s digital future remaining decidedly unresolved.

  • BTL Accuses Protesters of Trespassing, Intimidation

    BTL Accuses Protesters of Trespassing, Intimidation

    Belize Telemedia Limited (BTL) has issued a forceful condemnation following a morning protest that saw demonstrators forcibly enter the company’s private compound. In an official statement released January 27, 2026, the telecommunications provider characterized the incident as unlawful trespassing that created unsafe conditions for both staff and customers.

    The company revealed that while a scheduled board meeting was occurring on premises, the gathering was unrelated to the proposed Speednet acquisition that allegedly motivated the protest. Instead, the meeting focused exclusively on internal human-resource matters stemming from a 2025 judicial decision.

    BTL asserted that the protest intentionally disrupted normal business operations in what appeared to be an attempt to pressure board members into relinquishing their governance responsibilities—a course of action the company firmly rejects. Describing the events as “regrettable and counterproductive,” BTL emphasized its zero-tolerance policy toward intimidation or harassment of directors and employees.

    The telecommunications firm is now collaborating with law enforcement authorities to address the security breach. In a significant escalation of rhetoric, BTL warned that such incidents extend beyond mere business disruption, potentially jeopardizing national economic security by undermining stable corporate operations.