Carib Scope

分类： business

  • Cheaper Fuel Brings Relief as Other Costs Climb

    Cheaper Fuel Brings Relief as Other Costs Climb

    Belize’s economic landscape presented a mixed picture at the start of 2026, with the Statistical Institute of Belize reporting a near-flat national inflation rate of just 0.04% for January compared to the previous year. This marginal increase indicates remarkable stability in the overall cost of living, masking significant fluctuations across different consumer sectors.

    While the aggregate numbers suggest price stability, Belizean households faced substantial increases in essential categories. The food sector experienced noticeable inflation, with fresh meats, bakery products, and beverages including coffee and juices all recording higher prices. Stewed pork demonstrated the most dramatic surge, escalating by nearly 18% year-over-year.

    The housing and healthcare sectors similarly trended upward, with rental costs climbing and medical expenses becoming more burdensome. Surgical fees rose approximately 6%, while pharmaceutical products and physician services also saw increased pricing. Household energy costs climbed as well, with the standard 100-pound LPG cylinder reaching $130.63—representing a $5 increase from January 2025.

    Substantial relief arrived at gasoline stations nationwide, where significant price reductions provided counterbalance to other inflationary pressures. Premium gasoline prices declined by $1.12 per gallon, regular gasoline dropped by $1.03, and diesel fuel decreased by $0.52 per gallon.

    Regional analysis revealed considerable disparities across Belize’s districts. Punta Gorda recorded the highest inflation rate at 2.6%, driven by increased costs for food, liquefied petroleum gas, and personal items. Conversely, Orange Walk experienced deflation at -1.9%, benefiting from both reduced fuel prices and decreased costs for locally grown produce including tomatoes, carrots, and beans.

    The period between December 2025 and January 2026 actually saw a 0.5% decrease in overall prices, primarily attributable to the declining fuel costs that helped stabilize the nation’s economic outlook.

  • BTL Cuts Out the Middleman, Offers Severance Directly to Worker

    BTL Cuts Out the Middleman, Offers Severance Directly to Worker

    In a significant corporate development, Belize Telemedia Limited (BTL) has announced it will voluntarily provide severance packages to all qualifying former employees, including those whose claims technically fall outside the statutory six-year limitation period. The company’s legal representative, Kileru Awich, confirmed this decision during a press briefing on February 26, 2026.

    Awich emphasized that while BTL maintains its legal position regarding statutory limitations, the telecommunications provider has chosen to extend payments as a gesture of good faith. This move comes despite the complete breakdown of negotiations with the Belize Communication Workers for Justice (BCWJ) union, primarily due to disagreements over interest calculations on back payments.

    The company’s counsel revealed that over 500 severance requests are currently being processed under Section 183 of Belize’s Labour Act. This provision covers employees with at least five continuous years of service terminated without cause, plus those with ten years who resigned and qualify for gratuity-equivalent payments.

    Awich notably stated that the decision represents no admission of liability by BTL, but rather a practical resolution to benefit former workers. The announcement follows sustained protests by BCWJ outside BTL’s headquarters demanding severance payments, with additional demonstrations expected due to the collapsed negotiations.

    The legal counsel shared that some union-represented workers have independently contacted BTL expressing willingness to accept the company’s terms, highlighting divisions within the former employees’ group regarding the negotiation strategy.

  • STATEMENT: National Beekeepers Cooperative Society condemns sale of adulterated honey

    STATEMENT: National Beekeepers Cooperative Society condemns sale of adulterated honey

    The National Beekeepers Cooperative Society Ltd. has issued a formal response to a viral social media graphic raising concerns about adulterated honey products in the Dominican market. The cooperative organization released a strong statement condemning all aspects of honey adulteration—from production and distribution to retail sales—reaffirming its unwavering commitment to preserving honey’s status as a pure, natural product.

    The Cooperative confirmed it has received and formally documented specific concerns regarding certain honey brands currently available to consumers. In response to these allegations, the organization has initiated active engagement with relevant regulatory bodies to ensure all honey products comply with established quality and safety protocols.

    Emphasizing its core priorities, the Cooperative highlighted three fundamental commitments: ensuring consumer safety, protecting legitimate beekeepers who maintain authentic production methods, and safeguarding the reputation of the Dominican Honey Brand as a mark of quality and authenticity.

    The statement concluded with a call for enhanced transparency throughout the industry, advocating for rigorous testing procedures and strict adherence to national standards. These measures, the Cooperative asserts, are essential for maintaining public confidence in the honey industry and preserving the integrity of this valued agricultural sector.

  • Jamaican insurance agent Tona-Lee Lewis Wright making waves in US

    Jamaican insurance agent Tona-Lee Lewis Wright making waves in US

    Tona-Lee Lewis Wright has achieved an extraordinary milestone in the American insurance sector, ascending from her origins in Manchester, Jamaica to become the highest-performing agent among over 6,000 professionals nationwide. Her remarkable journey exemplifies strategic innovation, unwavering resilience, and demonstrable excellence in the competitive financial services industry.

    Following nearly ten years of distinguished service within Jamaica’s insurance landscape, Wright embarked on a transformative career move by relocating to the United States to broaden her professional horizons. She aligned herself with Leaders Financial Group, a premier agency operating within one of the nation’s most recognized final expense insurance organizations.

    Demonstrating exceptional prowess, Wright shattered a six-decade-old production record within merely two years of joining the company. Her unprecedented performance culminated in generating exceeding $584,000 in annual premium production for 2025 alone, securing her the top rank across the entire organization.

    This achievement was formally recognized through the presentation of a commemorative plaque and an honorary painting. Wright’s methodology transcends mere salesmanship; she is renowned for developing and implementing refined field efficiency strategies that significantly enhance agent productivity and streamline client acquisition processes throughout her agency.

    Beyond her personal production metrics, Wright dedicates substantial effort to mentoring and training incoming agents, thereby fostering collective organizational growth. As a licensed insurance professional authorized in multiple U.S. states, she has gained admission into elite industry circles, including the prestigious Million Dollar Round Table and the Court of the Table—honors reserved for the globe’s most exceptional insurance producers.

    “I pursued migration to elevate my passion to an international platform,” Wright stated. “The pillars of my success are consistency, adaptability, and a perpetual willingness to unlearn and relearn.”

    Widely regarded as the benchmark for production excellence in final expense insurance, Wright embodies the dual role of top-tier producer and dedicated industry educator. Her work has substantively benefited thousands of families across diverse markets, reinforcing her dedication to professional superiority and client service.

    As an illustrious representative of Jamaica on the global stage, she remains fervently committed to elevating professional standards within the insurance industry while motivating aspiring professionals with a global outlook. Wright champions a philosophy of relentless perseverance, often citing: “Success is not final. Failure is not fatal: it is the courage to continue that counts.”

  • Market Bag: Burgerman takes shop-off challenge as prices continue to fall at ‘Curry’

    Market Bag: Burgerman takes shop-off challenge as prices continue to fall at ‘Curry’

    KINGSTON, Jamaica – Consumers in Jamaica are witnessing favorable market conditions as produce prices at Coronation Market demonstrate a sustained downward trajectory this week. Tomato prices have plummeted to remarkable lows of just $30 per pound, while staple vegetables like cabbage and pumpkin are now available for approximately $100.

    The encouraging price trends have been officially confirmed by Corey Bailey, a data collection officer with Jamaica’s Ministry of Agriculture, Fisheries and Mining. Bailey emphasized that current market conditions present an exceptional opportunity for consumers to maximize their purchasing power.

    “The market prices are exhibiting very positive trends across most categories,” Bailey stated. “We’ve observed substantial decreases in several product lines while others maintain price stability. Root vegetables including sweet potato and dasheen have held steady at the $300-$350 range. The overall market environment currently favors consumers seeking value.”

    In related market activities, the Jamaica Observer’s Market Bag series concluded its season with a special shopping challenge. Burgerman, a prominent radio personality from Edge 105 FM, transitioned from the studio to the vibrant atmosphere of ‘Curry’ market for a high-stakes purchasing competition with host Carlysia Ramdeen.

    The finale episode challenged both participants to demonstrate exceptional budgetary efficiency, testing their ability to maximize value for every dollar spent. The competitive segment featured Burgerman promising an impressive performance, while Ramdeen remained equally determined to claim victory.

    Viewers can experience the complete market shopping challenge through the Jamaica Observer’s digital media platforms, where the new episode of Market Bag is now available for streaming.

  • Paramount acquires Warner Bros. in US$110 billion mega-merger

    Paramount acquires Warner Bros. in US$110 billion mega-merger

    NEW YORK—In a landmark transaction reshaping the global media landscape, Paramount Skydance has emerged victorious in acquiring Warner Bros. Discovery for a total enterprise value of $110 billion. The deal, announced Thursday, concludes an intense five-month bidding war that saw streaming giant Netflix withdraw from negotiations after declining to match Paramount’s final offer.

    The merger creates an unprecedented entertainment conglomerate, combining Paramount’s assets with Warner Bros. Discovery’s extensive portfolio. The new entity will control some of the world’s most recognizable media brands, including CNN, HBO, Nickelodeon, and powerhouse franchises such as Harry Potter, Game of Thrones, the DC Universe, Mission Impossible, and SpongeBob SquarePants.

    Under the acquisition terms, Paramount will pay $31.00 per share in cash for all outstanding Warner Bros. Discovery shares, representing an equity valuation of $81 billion. The transaction, which includes assumption of debt, has received unanimous approval from both companies’ boards of directors, with expected closure scheduled for the third quarter of 2026.

    Paramount Chairman and CEO David Ellison stated the strategic move was ‘guided by a clear purpose: to honor the legacy of two iconic companies while accelerating our vision of building a next-generation media and entertainment company.’

    The merger’s significance extends beyond corporate consolidation, raising questions about political connections and regulatory scrutiny. The Ellison family, which will control the expanded media empire, maintains notable political ties—Larry Ellison, Oracle billionaire and father of Paramount’s CEO, is a longstanding ally of former President Donald Trump. Both Paramount and Netflix had reportedly sought favor with the current administration during bidding negotiations.

    Financing arrangements include backing from three Middle Eastern sovereign wealth funds (Saudi Arabia, Qatar, and Abu Dhabi), potentially attracting additional regulatory examination. Paramount has proactively addressed regulatory concerns by offering a $7 billion termination fee should the deal fail to clear regulatory hurdles, while also covering the $2.8 billion breakup fee Warner Bros. Discovery owed Netflix upon terminating their previous agreement.

  • Sagicor X Fund delivers historic year, surpassing billion-dollar profit mark

    Sagicor X Fund delivers historic year, surpassing billion-dollar profit mark

    KINGSTON, Jamaica – Sagicor Real Estate X Fund Limited has concluded its 2025 fiscal year with unprecedented financial results, announcing a record-breaking net profit of J$1.01 billion. This achievement marks a staggering 121 percent year-over-year growth, positioning the fund as a standout performer in the Caribbean real estate investment sector.

    The remarkable performance was primarily fueled by a 70 percent surge in net profits from core operations, which escalated from J$454.02 million to J$772 million. This substantial growth underscores the effectiveness of the fund’s strategic initiatives and operational excellence.

    A key driver of this success was the fund’s strategic expansion of its direct real estate portfolio, including a significant investment property acquisition in September 2024. This move dramatically improved commercial operations’ profit contribution, which soared to 11.2 percent from negative 7 percent the previous year.

    The hospitality division emerged as another powerful earnings engine, with the DoubleTree Orlando property reporting a 36 percent increase in net profit to J$659.42 million. Enhanced occupancy levels and elevated average daily rates, coupled with effective cost management strategies, contributed significantly to this performance.

    Additional operating activities generated profits of J$236.31 million, representing substantial growth of J$233.62 million year-over-year. These gains were attributed to favorable fair value adjustments, foreign exchange advantages, and capital gains from investment note redemptions.

    Howard Mitchell, Chairman of Sagicor Real Estate X Fund Limited, emphasized that these results stem from deliberate strategic decisions rather than temporary market conditions. ‘Surpassing the billion-dollar net profit mark confirms that our strategy is working, our portfolio is resilient, and our focus on disciplined growth creates meaningful shareholder value,’ Mitchell stated.

    The fund’s financial strength was further demonstrated through earnings per share reaching J$0.45 – a 125 percent increase from the previous year’s J$0.20 – and operating cash flows of J$922.59 million. Despite challenges including Hurricane Melissa’s impact in Jamaica, the fund maintained minimal exposure (1 percent) to Jamaican real estate through Sigma holdings, highlighting its diversified risk approach.

    Mitchell expressed optimism for future prospects, noting the continued benefits from international tourism recovery, stable investment yields, and high occupancy rates across the portfolio. The fund remains committed to pursuing opportunities that meet return thresholds while supporting regional recovery efforts.

  • Small business operators meet with JPS

    Small business operators meet with JPS

    In a pivotal move to confront the severe energy challenges stifling Jamaica’s entrepreneurial sector, the Small Business Association of Jamaica (SBAJ) engaged in high-level talks with the Jamaica Public Service Company (JPS) this Thursday. The meeting, spearheaded by SBAJ President Garnett Reid, centered on developing actionable strategies to alleviate the financial and operational pressures on micro and small enterprises.

    The SBAJ delegation presented a comprehensive overview of the sector’s critical pain points. These included the burdensome fixed generation costs exacerbated by the constraints of a small demand market, which disproportionately affect smaller operations. The association also highlighted the sector’s acute vulnerability to external shocks, particularly hurricanes, under the current regulated pass-through model that allows costs to be directly transferred to consumers. This model, coupled with limited financial reserves typical of micro-businesses, creates a precarious situation for survival post-disaster.

    Further concerns emphasized were the persistent issues surrounding the reliability of the national electricity grid and the significant strain imposed by recent tariff increases. The delegation, which included key figures such as Chairman of Trustees Reginald Budhan, 2nd Vice President Dennise Williams, and legal advisor Michael Diamond, argued that these factors collectively threaten the growth and sustainability of Jamaica’s vital small business ecosystem.

    The dialogue culminated in a mutual commitment from both JPS and the SBAJ to pursue continued collaboration. The primary objective is to forge fair, transparent, and pragmatic solutions that not only ensure a stable and reliable energy supply for the nation but also create an environment where small businesses can thrive and contribute meaningfully to the Jamaican economy.

  • Heldere visie op rol en taken van business controller in veranderende organisaties

    Heldere visie op rol en taken van business controller in veranderende organisaties

    The Anton de Kom University of Suriname marked a significant academic milestone on February 25, 2026, with Professor Arno Geurtsen RC delivering his inaugural address upon assuming the prestigious Chair in Governance & Control. The ceremony at the university’s Interfaculty for Graduate Studies and Research centered on redefining the evolving role of business controllers in modern organizational structures.

    Professor Geurtsen identified a critical gap in contemporary business practice: widespread ambiguity regarding the precise expectations, responsibilities, and competencies required of business controllers. “Every organization interprets the role differently,” Geurtsen observed, “creating substantial challenges in establishing standardized educational objectives for future professionals.”

    The academic framework presented incorporated three foundational pillars: organizational governance theory, digital transformation impacts, and controller role conceptualization. A novel addition to existing scholarship was the concept of ‘knowledge of inertia’—referring to organizational resistance and stagnation that controllers must navigate to implement successful transformations.

    Geurtsen’s theoretical approach integrated Simons’ ‘levers of control’ model, advocating for reflective control systems that incorporate social context and organizational culture alongside traditional processes. This comprehensive perspective aims to transform governance from theoretical aspiration to practical implementation, ensuring sustainable organizational improvements.

    The address traced the historical evolution of organizational governance, noting the traditional dominance of financial information while acknowledging critiques of this narrow focus. Geurtsen discussed emerging performance measurement frameworks, including Kaplan & Norton’s Balanced Scorecard, and examined contemporary insights regarding behavioral and cultural controls as supplementary management tools.

    Looking toward the future, Professor Geurtsen envisioned the business controller as a hybrid professional—combining analytical expertise with sophisticated social skills to navigate complex human dynamics within organizations. This duality, he argued, forms the essential foundation for functioning as both legitimate and effective business partners.

    The establishment of this academic chair underscores Suriname’s commitment to advancing professional education and research in governance and control, aiming to develop controllers capable of guiding organizations through increasingly complex and digitalized business environments.

  • Liat Air to Launch Direct Guadeloupe–Antigua and Guadeloupe–Montego Bay Flights in May and July 2026

    Liat Air to Launch Direct Guadeloupe–Antigua and Guadeloupe–Montego Bay Flights in May and July 2026

    In a significant development for regional aviation, Liat Air and Guadeloupe Maryse Condé International Airport have jointly announced the establishment of two new non-stop flight services from Pointe-à-Pitre. This strategic expansion reconnects Antigua while introducing a novel pathway to Montego Bay, Jamaica, substantially enhancing intra-Caribbean travel options and facilitating improved connections to international hubs in the United States and United Kingdom.

    The relaunched Antigua route commences operations on May 1st, initially featuring two weekly rotations utilizing ATR 42 aircraft with 48-seat capacity. Service frequency will further intensify from July 2026 with the addition of two weekly flights employing Embraer ERJ 145 jets accommodating 50 passengers, establishing year-round connectivity.

    Concurrently, the Montego Bay corridor launches during the first week of July, strategically timed to accommodate travelers attending Jamaica’s renowned Reggae Sumfest festival. This route will maintain two weekly rotations aboard Embraer ERJ 145 aircraft, operating consistently throughout the year.

    Alain Bievre, Chairman of Guadeloupe Maryse Condé Airport’s Board, emphasized this development represents a pivotal advancement in the airport’s strategic diversification initiative. “The restoration of Antigua services and inauguration of Montego Bay connectivity constitute substantial progress in positioning our facility as an instrumental catalyst for Guadeloupe’s economic and tourism development,” Bievre stated, highlighting the coordinated efforts between airport authorities and local partners.

    Liat Air CEO Hafsah Abdulsalam expressed enthusiasm regarding the network expansion, noting: “Reestablishing Antigua connectivity revitalizes essential inter-island linkages that strengthen familial bonds, stimulate economic exchange, and enhance cultural integration across the Caribbean region. Simultaneously, our new Montego Bay service creates seamless access to one of the Caribbean’s most dynamic tourism markets, benefiting both regional travelers and visitors from European gateways.”

    The new routes offer distinct experiential opportunities for travelers. Antigua presents ideal short-stay possibilities with its picturesque bays, historic Shirley Heights overlook, vibrant marketplaces, and renowned pottery traditions. Montego Bay serves as the gateway to Jamaica’s diverse attractions, combining pristine beaches, energetic nightlife, rich cultural heritage, and breathtaking natural landscapes ranging from coastal areas to the majestic Blue Mountains.

    Tourism authorities have welcomed these aviation developments. Rodrigue Solitude, General Director of Guadeloupe Islands Tourism Board, noted: “Enhanced air connectivity consistently generates positive impacts for our archipelago by fostering not only tourism exchange but also deeper cultural, historical, and traditional interconnections. We anticipate continued expansion of regional network linkages to additional Caribbean destinations.”