Carib Scope

分类： business

  • KFC starts the party for Carnival

    KFC starts the party for Carnival

    In a strategic brand integration move, KFC has officially launched its ambitious ‘KRUNCHNIVAL’ campaign for Carnival 2026, positioning itself as the definitive culinary and cultural partner for Trinidad and Tobago’s premier national festival. The fast-food giant unveiled this multi-platform initiative on January 5th at Brian Lara Promenade in Port of Spain, opposite its flagship store location.

    The campaign’s centerpiece features an unprecedented musical collaboration between soca sensations Yung Bredda (Akhenaton Lewis) and Destra Garcia, who have reimagined the classic Carnival anthem ‘It’s Carnival’ with contemporary energy. This revitalized track serves as the sonic foundation for KRUNCHNIVAL, blending generations of musical heritage with modern production values.

    Roger Rambharose, Vice President of KFC and Pizza Hut Trinidad and Tobago, characterized the campaign as a deliberate market disruption strategy. ‘Our approach to Carnival season has always been distinctive and impactful,’ Rambharose stated. ‘KRUNCHNIVAL embodies our commitment to delivering exceptional energy, authentic flavor profiles, and tangible customer value while celebrating Carnival through bold, culturally relevant expressions.’

    Marketing lead Stacey Ryan elaborated on the campaign’s philosophical underpinnings: ‘KRUNCHNIVAL emerged from recognizing that Carnival transcends calendar dates—it represents a cultural consciousness that permeates movement, culinary experiences, celebrations, and social connections. We’re not merely participating in Carnival; we’re redefining how brands can authentically integrate with cultural phenomena.’

    The comprehensive campaign will feature limited-edition menu innovations, exclusive Carnival-themed packaging, in-store experiential activations, and strategic digital engagement across social platforms. Consumers can anticipate seasonal promotions and special offerings throughout the Carnival period, with the KFC Trinidad and Tobago mobile application serving as the primary access point for updates and exclusive content.

    This brand initiative represents KFC’s most substantial investment in Carnival integration to date, combining musical partnerships, influencer collaborations, and visual branding transformations across physical and digital landscapes.

  • 90 percent of Port Lucaya merchants ‘struggle to survive’

    90 percent of Port Lucaya merchants ‘struggle to survive’

    The Port Lucaya Marketplace in Freeport is confronting a severe economic crisis, with approximately 90% of its merchants struggling to maintain operations amid drastically reduced foot traffic and stalled redevelopment plans. According to Never Smith, president of the newly established Port Lucaya Marketplace Association, numerous businesses have already ceased operations, including Tropical Gyro, Luxe Deli, and Island Divas, while others are barely surviving.

    The crisis stems primarily from the closure of the adjacent Grand Lucayan Resort in 2016 following Hurricane Matthew, which historically served as the primary generator of customer traffic. Merchants report that non-food retail establishments, including souvenir, jewelry, and clothing stores, have been disproportionately affected, though food and beverage outlets have also experienced declining sales.

    In response to the deteriorating conditions, the association representing approximately 170 tenants has formally requested property owner Peter Hunt to implement temporary rent reductions and engage in direct dialogue regarding redevelopment timelines. Despite outreach efforts spanning several months, merchants report frustration over Hunt’s unwillingness to meet directly with tenants, though he has communicated with other community stakeholders.

    The Grand Bahama Port Authority has provided some relief through discounted business license fees, but merchants emphasize that more substantial support from property ownership is urgently needed. The association continues to seek intervention through community leaders, including the Grand Bahama Chamber of Commerce and GBPA co-chairman Rupert Hayward, to facilitate crucial discussions about the property’s future.

  • Telting: Geen ruimte voor politieke benoemingen, deskundigheid centraal bij SLM

    Telting: Geen ruimte voor politieke benoemingen, deskundigheid centraal bij SLM

    Surinam Airways (SLM) has experienced substantial international interest in its executive vacancies, particularly for the position of Deputy Director Operations. The state-owned carrier’s initial recruitment phase has drawn numerous applications, including from Canadian aviation specialist Tomas Chlumecky, who professionally brands himself as the ‘Aviation Doctor’ and seeks to lead the airline’s transformation.

    President-Commissioner Telting emphasized that selection will follow rigorous merit-based protocols. ‘We’re implementing a comprehensive application matrix where the highest-scoring candidates will receive invitations. There’s no need for personal appeals—qualified applicants must simply apply through proper channels,’ Telting stated, underscoring the company’s commitment to transparent hiring practices.

    The recruitment process will include detailed background checks for former employees seeking reinstatement. Telting noted the importance of examining previous roles and departure circumstances, adding that ‘reinstating failed previous systems will not be permitted under any circumstances.’

    The successful candidate for Deputy Director Operations will simultaneously serve as Accountable Manager, bearing dual responsibility for all operational and safety standards while acting as primary liaison for aviation authorities. While newly appointed director Johan Sandie maintains ultimate executive responsibility, the deputy director will oversee critical functions including operational department leadership, policy development, compliance with international aviation standards, and strategic advisory to the board.

  • OPEC houdt productie voorlopig gelijk na spanningen rond Venezuela

    OPEC houdt productie voorlopig gelijk na spanningen rond Venezuela

    The Organization of Petroleum Exporting Countries (OPEC) has resolved to maintain current oil production levels, extending its existing output freeze policy in response to ongoing market volatility. This decision emerged from intensive consultations among member states and reflects deepening concerns about market stability following recent geopolitical developments involving Venezuela.

    Global oil markets entered 2025 in a precarious state following a tumultuous 2024 that witnessed worldwide oil producers generating substantial surplus beyond market absorption capacity. This oversupply situation triggered an approximate 18% price decline throughout last year—the most severe contraction since the pandemic-induced crash of 2020. To counteract further price erosion, OPEC members initially implemented production restraints late last year, a strategy now being prolonged.

    While recent U.S. military actions against Venezuela and resultant geopolitical tensions have created market nervousness, analysts confirm these events haven’t yet disrupted global supply chains. Venezuela possesses the world’s largest proven oil reserves, yet its operational output remains severely constrained by international sanctions, aging infrastructure, and chronic underinvestment.

    OPEC leadership expresses particular concern that abrupt policy changes could destabilize the delicate market equilibrium. The cartel aims to prevent additional supply from exacerbating price pressures, especially given uncertain global economic prospects. Market experts note that even if the United States succeeds in revitalizing Venezuela’s oil industry, the process would require massive international investment and several years before the country could resume significant market presence.

    Analysts project moderately volatile pricing patterns throughout 2025, with geopolitical flashpoints potentially causing temporary fluctuations. However, sustained price rallies remain unlikely while production constraints persist and global demand shows only limited growth. The organization continues monitoring market indicators closely, prepared to adjust strategies should fundamental conditions shift substantially.

  • ‘Tuna King’ pays record $3.2 m for bluefin at Tokyo auction

    ‘Tuna King’ pays record $3.2 m for bluefin at Tokyo auction

    TOKYO, Japan — In a spectacular display of culinary prestige and economic optimism, Japanese sushi magnate Kiyoshi Kimura shattered records on Monday by purchasing a 243-kilogram bluefin tuna for ¥510.3 million ($3.2 million) at Tokyo’s annual New Year auction. The unprecedented bid at Toyosu fish market surpassed the previous 2019 record of ¥333.6 million, marking the highest price paid since tracking began in 1999.

    The colossal specimen, caught off Japan’s northern coast, was swiftly processed into sushi at Kimura’s Sushizanmai restaurant chain, where customers paid approximately ¥500 ($3) per roll. Diners described the experience as transcendent, with 19-year-old Minami Sugiyama calling it an “auspicious” start to the year and Shinto priest Kiyoshi Nishimura praising its natural sweetness and rich texture without needing soy sauce.

    This record-breaking transaction signals a dramatic recovery from pandemic-era slumps when auction prices plummeted due to restaurant restrictions. Dave Gershman of Pew Charitable Trusts’ international fisheries team noted the sale coincides with improving Pacific bluefin stocks that were once “near collapse.” He attributed this progress to a 2017 recovery plan and called for international fisheries managers to establish a long-term sustainable management strategy in 2026 to ensure continued population health.

    The auction not only reflects market dynamics but also cultural traditions, as the first tuna of the year is considered a symbol of prosperity and good fortune in Japanese culinary culture.

  • Two Brothers Rice Milling Complex to expand to Jamaica

    Two Brothers Rice Milling Complex to expand to Jamaica

    In a significant development for Caribbean business integration, Guyanese agricultural leader Two Brothers Rice Milling Complex Inc has unveiled strategic plans to establish operations in Jamaica by 2026. The expansion will operate under the new entity name Two Ali Brothers Corporation Limited, marking a substantial step in regional economic cooperation.

    CEO Javed Ali emphasized the dual-purpose mission driving this expansion, noting it will simultaneously strengthen community engagement and stimulate economic growth through employment opportunities and local partnerships. This announcement comes alongside immediate humanitarian action, as the company has already deployed substantial support to hurricane-affected Jamaican communities.

    The corporation recently facilitated the distribution of over 20,000 kilograms of rice to areas devastated by Hurricane Melissa. This critical assistance reached vulnerable populations through coordinated efforts involving Taujul Imports, with groundwork managed by Jacqueline James and Zarie Ricketts. The initiative originated from Slingerz Entertainment—another enterprise under Ali’s leadership—demonstrating the interconnected nature of his business and philanthropic ventures.

    Ali expressed profound admiration for Jamaican resilience, stating: ‘We are deeply moved by the strength shown by the Jamaican people following Hurricane Melissa. It is our honour to contribute to relief efforts and stand in solidarity during rebuilding.’

    The relief operation saw collaboration with notable figures including dancehall artist Vybz Kartel through his Adidja Palmer Foundation, and musician Carlton ‘Spragga Benz’ Grant. Ali also acknowledged support from Jamaica’s Minister of Agriculture and Fisheries Floyd Green, PNP General Secretary Dr. Dayton Campbell, and various charitable organizations providing frontline assistance.

    This humanitarian response reflects the company’s broader commitment to corporate social responsibility and regional cooperation. Beyond agriculture, the organization maintains strong cultural connections through Slingerz Entertainment and Slingerz Records, which have promoted Jamaican artists within Guyana’s music scene for over twenty years.

    The Slingerz brand portfolio extends into sports with successful football and racing divisions, currently featuring three Jamaican athletes on Slingerz Football Club’s roster. Together, these interconnected enterprises continue to drive community development, regional unity, and sustainable impact across multiple sectors throughout the Caribbean.

  • The Home Store closes in Chaguanas; MovieTowne Tobago shuts down

    The Home Store closes in Chaguanas; MovieTowne Tobago shuts down

    Trinidad’s retail landscape continues to deteriorate as The Home Store announced the closure of its Chaguanas location on January 5th, marking the latest casualty in a series of economic challenges facing the Caribbean nation. This development follows closely on the heels of MovieTowne’s shutdown of its Tobago operations, creating a pattern of retail contraction across the region.

    The Home Store’s parent company, LJ Williams, attributed the decision to ‘the continued decline in the economy,’ reflecting broader systemic issues affecting consumer markets. This represents the fourth location closure for the home goods retailer in recent times, following previous shutdowns at East Gates Mall, C3 Centre, and The Falls at Westmall branches throughout 2025.

    Financial disclosures reveal LJ Williams recorded a comprehensive loss of $875,000 for the six-month period ending September 30th, showing slight improvement from the $974,000 loss documented during the same timeframe in 2024. Company turnover similarly declined, dropping to $71.35 million from the previous year’s $73.30 million.

    Chairman Lawford Dupres acknowledged the marginally improved loss margin but highlighted persistent challenges including weakened consumer spending and constrained access to foreign markets. These factors have significantly impacted the distribution aspect of their operations, prompting strategic shifts toward consolidating resources in higher-performing locations while reducing overall overhead costs.

    The company’s condensed financial statements, published November 6th, indicated $71.355 million in sales with an operating profit of $2.14 million—a figure ultimately negated by finance costs totaling $2.63 million. Management identified foreign exchange availability as a continuing critical factor, with future strategy emphasizing rigorous cost control and investment in outlets demonstrating ‘greater promise.’

    Meanwhile, MovieTowne’s simultaneous Tobago closure, though without explicit stated reason, follows widely publicized legal disputes with Port Authority landlords. In August 2024, the company’s lease holder, Trinidad Commercial Development Company Ltd, complied with a court order to pay $3 million to the authority. Questions regarding the Tobago branch’s economic viability have circulated since the COVID-19 pandemic, with closure rumors persisting throughout the recovery period.

    Amid these closures, MovieTowne continues operations in Port of Spain and San Fernando while implementing a buy-one-get-one promotional campaign throughout January in Trinidad locations, alongside discounted park ride offerings on weekends.

  • Late cash surge lifts December currency growth to central bank’s target

    Late cash surge lifts December currency growth to central bank’s target

    KINGSTON, Jamaica – Jamaica’s monetary authority has reported that a substantial late-month spike in cash requirements enabled the nation’s currency expansion to align with official projections for December 2025, according to finalized data released Monday. This robust finish effectively counterbalanced the unexpectedly subdued pattern documented in preliminary assessments just days prior.

    The Bank of Jamaica (BOJ) disclosed distributing a net total of J$13.1 billion to financial institutions during the final five business days of the month, derived from J$14.1 billion in new issuances minus J$0.9 billion in redemptions. This vigorous end-of-period activity propelled the overall currency inventory growth to J$21.7 billion, representing a 7.2 percent monthly increase.

    This conclusive performance closely matched the central bank’s early-December forecast of 7 percent growth, demonstrating a notable recovery from the mid-month assessment on December 24 that indicated merely 2.9 percent expansion through the first 22 days. Despite this recovery, the monthly growth rate remained below the 8 percent increase recorded in December 2024.

    Jamaica’s circulating currency reached J$322.3 billion by year-end, reflecting a substantial 12.7 percent nominal annual growth that dramatically exceeded the previous year’s 3.1 percent expansion. When adjusted for inflation, the real value of currency holdings surged by an estimated 7.1 percent – a remarkable turnaround from the 1.8 percent real decline witnessed twelve months earlier.

    Monetary officials identified multiple drivers behind this accelerated annual growth, including precautionary cash holdings following Hurricane Melissa, enhanced remittance flows, elevated inflation rates, and economic recuperation from Hurricane Beryl’s impact in July 2024.

    The BOJ expects the majority of additional currency supplied for seasonal demand to return to financial institutions during January. Historical patterns indicate that approximately 68.8 percent of December’s net currency issuance typically gets redeemed in the subsequent month over the past five years.

    The central bank administers daily currency movements based on commercial bank requirements, which themselves respond to heightened withdrawal patterns from both individual and commercial clients during peak expenditure periods. Jamaica’s currency in circulation encompasses all banknotes and coins held by the public plus vault reserves maintained by commercial banks.

  • Dominican Republic shatters record for arrivals with 11.6 million visitors in 2025

    Dominican Republic shatters record for arrivals with 11.6 million visitors in 2025

    The Dominican Republic concluded 2025 with an extraordinary tourism achievement, recording approximately 960,000 air arrivals in December alone—a monumental 10% growth that represents the highest monthly figure in the nation’s history. This remarkable performance culminated in an unprecedented annual total of 11.6 million visitors, solidifying the country’s position as a regional tourism powerhouse.

    This accomplishment transcends mere post-pandemic recovery, demonstrating instead the resilience and strategic diversification of the Dominican tourism model amid global geopolitical tensions, economic uncertainties, and shifting travel patterns. Notably, these results significantly surpass pre-pandemic benchmarks of 667,000 monthly tourists, achieved during a more favorable international climate without the adverse impacts of the Russia-Ukraine conflict, which previously cost the destination over 500,000 annual visitors.

    Despite challenges in traditional markets including slowed growth from the United States, the Dominican tourism sector accelerated dramatically during the final quarter of 2025. Critical to this success has been enhanced air connectivity, strategic demand management, and the seamless integration of approximately 2,500 new hotel rooms while maintaining robust occupancy rates and sustained investor confidence.

    Concurrently, cruise tourism emerged as a strategic pillar with 2.8 million passengers welcomed throughout the year. The arrival of large-scale vessels and expanded international itineraries validated the country’s modernized port infrastructure, reinforcing its status as a leading Caribbean cruise destination.

    Leadership under Tourism Minister David Collado received widespread recognition from global industry leaders including Gabriel Escarrer, Sabina Fluxá, and Frank Rainieri, who praised the administration’s strategic vision and execution. Uniquely, this acclaim extended beyond private sector figures to governmental peers, with tourism ministers throughout the Americas identifying Collado as a regional leader for his exceptional management in challenging times.
    This consensus was formally recognized when UN Tourism designated Collado as Minister of Tourism for the Americas—a distinction that highlights both his leadership and the Dominican Republic’s model of effective tourism policy. The year’s achievements reflect institutional maturity driven by clear strategy, consistent execution, and strong public-private collaboration, establishing new historical benchmarks for Caribbean tourism.

  • Wij vermoeden dat het geld wegvloeit, maar hoe gebeurt dat eigenlijk?

    Wij vermoeden dat het geld wegvloeit, maar hoe gebeurt dat eigenlijk?

    Suriname stands at a pivotal economic juncture as major hydrocarbon developments threaten to expose significant structural vulnerabilities in the nation’s tax framework. With TotalEnergies advancing the GranMorgu oil project in Block 58 and PETRONAS developing gas resources in Block 52, the country must urgently address fundamental gaps in its international taxation and transfer pricing regulations to prevent substantial revenue leakage.

    These multibillion-dollar projects represent transformative economic opportunities yet simultaneously create systemic fiscal risks. Without contemporary legislation and explicit transfer pricing rules, a considerable portion of generated value could bypass Suriname’s economy entirely, moving beyond reach of both government revenues and citizens.

    The core challenge lies in Suriname’s current inability to verify whether taxed profits genuinely reflect the economic reality of local operations. Multinational corporations like TotalEnergies and PETRONAS operate within extensive, highly integrated global networks—not through isolated Surinamese entities. These complex structures encompass group companies providing financing, technical services, intellectual property management, contract administration, and commodity marketing.

    Several mechanisms directly impact taxable profits in Suriname:

    Intragroup services represent a primary concern, with technical, commercial, and support functions often centralized within corporate groups. Surinamese entities routinely utilize engineering, drilling support, project management, procurement, financial, logistical, and managerial services. Determining whether these services provide independent economic benefit requires transparent documentation and cost allocation practices currently lacking.

    Licensing and royalty arrangements present additional challenges. Both TotalEnergies and PETRONAS maintain extensive portfolios of specialized intellectual property including geological models, seismic software, drilling technology, project management systems, and safety protocols. When this intellectual property is held outside Suriname, local entities may be required to pay license fees—even at relatively low percentages, these payments can substantially reduce taxable profits.

    Intragroup financing arrangements significantly influence fiscal outcomes. Projects requiring billions in investments employ complex capital structures featuring high debt financing, interest charges, and guarantee fees that can suppress Surinamese profits for years, particularly during early development phases if not properly aligned with commercial benchmarks.

    Procurement structures further affect profit allocation, with major contracts often routed through group-related hubs outside Suriname that embed margins into cost allocations. Additionally, permanent establishment considerations require attention during intensive preliminary phases when significant activities already occur within the country.

    These mechanisms collectively produce higher reported costs within Suriname, resulting in lower profits and diminished tax bases. This reality demands specialized expertise and analytical frameworks that look beyond reported figures—capabilities Suriname currently lacks.

    The existing situation extends beyond hydrocarbon development. Multinational operations in capital-intensive sectors like gold mining (including Zijin Rosebel Gold Mines and Newmont operations) already demonstrate similar tax base erosion risks. The expanding oil and gas sector will amplify these effects by attracting broader value chains.

    Addressing these challenges requires urgent policy action. Suriname must establish comprehensive transfer pricing regulations, implement targeted documentation requirements, and critically reassess existing tax treaties. Crucially, the nation should avoid mechanically adopting OECD frameworks designed for developed economies, instead crafting fiscal policies aligned with its unique economic reality and development objectives.

    This modernization effort concerns not only the tax authority but all stakeholders—government regulators and particularly Staatsolie must incorporate these fiscal considerations into contract formation and project structures immediately to secure Suriname’s economic interests for decades to come.