分类： business

Global financial markets showed mixed but largely stable movement on Monday, as the sudden collapse of planned peace negotiations between the United States and Iran sent oil prices climbing, leaving investors bracing for a packed week of central bank rate calls and high-stakes corporate earnings reports from top U.S. tech firms.

What had been growing optimism over a potential breakthrough in diplomatic talks over the weekend quickly evaporated. Iranian Foreign Minister Abbas Araghchi’s diplomatic visit to Islamabad had fueled market hopes that new direct negotiations with Washington would move forward, but U.S. President Donald Trump scrapped a planned trip by American diplomatic envoys on Saturday. In comments to Fox News following the cancellation, Trump struck a dismissive tone, saying if Iranian officials wanted dialogue, “they can come to us, or they can call us.”

On Monday, Tehran’s top diplomat placed full blame for the failed talks — the first and only round of negotiations aimed at de-escalating ongoing conflict between the two nations — squarely on Washington. Araghchi criticized the U.S. for insisting on “excessive demands” during discussions, and reiterated that “safe passage through the Strait of Hormuz is an important global issue.” The strategic Strait of Hormuz, through which roughly a fifth of global oil supplies pass daily, has remained largely closed amid ongoing tensions, keeping upward pressure on energy prices.

U.S. media outlet Axios reported Sunday, citing an unnamed U.S. official and two additional sources familiar with the negotiations, that Iran had tabled a new proposal focused on ending hostilities by reopening the Strait of Hormuz and lifting an ongoing U.S. naval blockade of the waterway, with controversial nuclear negotiations deferred to a later phase of talks.

Against this geopolitical backdrop, global oil benchmarks climbed on Monday, with both major contracts posting roughly 1% gains. The global benchmark Brent crude held firmly above the $100 per barrel threshold, trading up 1.3% at $106.70 per barrel by 1100 GMT, while U.S. West Texas Intermediate gained 1% to settle at $95.34 per barrel. Gains were tempered, however, by lingering investor hopes that a diplomatic agreement could still be reached in the coming weeks.

Major European equity markets defied expectations of a pullback from higher energy prices, posting modest gains. London’s FTSE 100 added 0.2% to 10,398.57 points, Paris’s CAC 40 rose 0.6% to 8,206.54 points, and Frankfurt’s DAX climbed 0.9% to 24,348.27 points. Asian markets ended the trading day mixed: Tokyo’s Nikkei 225 and Seoul’s Kospi rallied on a wave of tech sector gains, while Hong Kong’s Hang Seng Index slipped 0.2% and Shanghai’s composite index gained a modest 0.2%. U.S. markets closed slightly lower, with the Dow Jones Industrial Average dipping 0.2% to 49,230.71 points.

Analysts noted that investor expectations for a diplomatic breakthrough were already muted heading into the Islamabad talks, leaving most market participants in a holding pattern ahead of the week’s key economic events. “It may be that hopes of a diplomatic breakthrough were pretty faint to start with, and markets are now in wait-and-see territory ahead of a heavy week of earnings and economic touchpoints,” explained Derren Nathan, head of equity research at U.K. investment firm Hargreaves Lansdown.

This week brings scheduled monetary policy decisions from three of the world’s most influential central banks. With energy prices remaining persistently elevated, economists widely expect the U.S. Federal Reserve will hold interest rates steady when it announces its decision on Wednesday. The European Central Bank and the Bank of England are also projected to follow suit with similar rate pauses.

Beyond central bank policy, investors are turning their attention to quarterly earnings reports from five of the world’s largest tech giants: Alphabet, Meta, Microsoft, Amazon, and Apple. In recent weeks, stronger-than-expected corporate results have lifted equity markets globally, giving investors some confidence amid ongoing volatility. Russ Mould, investment director at brokerage AJ Bell, noted that “investors have been encouraged by corporate news flow over the past few weeks, leading to higher equity prices.” Still, he warned that extended periods of elevated oil prices carry major inflation risks: “higher oil for longer spells trouble for inflation, which in turn could act as a headwind for the economy.”

Currency markets saw mild movement on Monday, with the euro edging up to $1.1746 from Friday’s close of $1.1717, and the pound climbing slightly to $1.3558 from $1.3530. The dollar slipped against the yen, falling to 159.15 yen from 159.42 yen, while the euro gained marginally against the pound to hit 86.64 pence.

KINGSTON, Jamaica — A landmark new study has painted a nuanced picture of Jamaica’s evolving payment ecosystem, finding that while digital financial tools are growing in popularity across the island nation, cash has retained its central role in everyday financial life, functioning both as a go-to transaction method and a trusted financial safety net for most Jamaicans.

The comprehensive analysis, dubbed the Payment Preferences in Jamaica Report, was commissioned by BRANCCH Consulting and Outsourcing Limited, marking one of the first large-scale, nationally representative examinations of how Jamaicans engage with cash and digital payment options amid ongoing global shifts toward cashless finance. To build a robust, accurate dataset, researchers drew responses from more than 600 participants spread across both urban population centers and rural communities, capturing diverse perspectives on payment habits, preferences, unmet needs, and emerging trends reshaping the sector.

Core findings from the report confirm that cash still leads for day-to-day spending, making up more than 50% of all transactions and retaining the top spot as the most preferred payment method for regular purchases. Even as digital adoption grows, Jamaicans consistently turn to cash for small, everyday buys due to its unmatched accessibility and reliability.

That said, digital payment options — especially debit cards and online bank transfers — have seen steady growth in usage, particularly for transactions ranging from mid-value to high-value purchases. Despite this upward trajectory, widespread adoption has been held back by a series of persistent barriers: low public trust in digital systems, spotty digital infrastructure across many regions, consumer concerns over hidden transaction fees, and inconsistent service reliability have all slowed the transition to a fully cashless financial ecosystem.

The report also uncovered a notable disconnect between access to digital financial tools and actual usage. While more than 80% of Jamaicans have access to basic traditional banking services and 72% connect to the internet regularly, only 56% have access to mobile banking or payment apps. This gap makes clear that the challenge facing Jamaica’s digital transition is one of digital readiness and usability, not just basic availability of services.

“Jamaica isn’t just undergoing a simple shift from cash to digital — we’re operating in a hybrid payment environment where both systems need to work efficiently for all users,” explained Marcus Brodber, chief executive officer of BRANCCH. “What the data shows very clearly is that cash remains essential for most Jamaicans. This isn’t just a matter of old habit: cash continues to deliver reliability, full control over personal spending, and universal accessibility in ways that digital systems have not yet been able to match.”

The study also highlights the powerful cultural and social factors that shape payment behavior in Jamaica. The nation has a long tradition of strong reliance on peer-to-peer transactions and informal financial support networks, a pattern reflected in the survey data: 80% of respondents reported sending or receiving money from family members in the 30 days prior to taking the survey, reinforcing how trust and interpersonal relationships remain core drivers of financial decision-making.

Importantly, the report also identifies clear opportunities for expansion and innovation in Jamaica’s payment sector. While digital tools are already broadly available to much of the population, adoption remains held back by inconsistent point-of-sale connectivity, low public awareness of the benefits of digital payments, and lingering gaps in user confidence — especially among older age groups and residents of rural communities.

“Reliable, locally sourced data is absolutely critical to shaping the future of payments in Jamaica,” Brodber added. “If we are serious about driving greater efficiency, expanding financial inclusion, and fostering innovation across the sector, then policy and business decisions have to be rooted in how Jamaicans actually behave, not how we assume they behave. This report is just the starting point for more informed public dialogue, better targeted solutions, and meaningful progress across Jamaica’s entire payments landscape.”

Sixteen years after Jamaica’s landmark Casino Gaming Act first legalized casino operations limited to approved integrated resort developments, national casino gaming regulators are ramping up capacity building and inter-agency coordination to prepare for the eventual launch of the nascent industry.

Last week, the Casino Gaming Commission partnered with global gaming industry authority Gaming Laboratories International (GLI) to host a three-day specialized training workshop in Kingston. The event brought together regulators and law enforcement partners from across multiple agencies, including the Betting, Gaming and Lotteries Commission, the Major Organised Crime & Anti-Corruption Agency (MOCA), the Financial Investigations Division, and the Jamaica Customs Agency.

Branded GLI University, the immersive training program covered core topics critical to effective industry oversight: from casino licensing protocols and slot machine technical engineering to forensic financial investigation and the mathematical modeling that underpins game odds, payout structures and operator profitability.

Casino Gaming Commission Chief Executive Officer Cleveland Allen framed the training as a critical step toward Jamaica’s goal of expanding and diversifying its core tourism sector through integrated resort developments. “Given the commission’s mandate to establish and enforce a robust regulatory framework for casino gaming in Jamaica, this training comes at a critical time as we continue to strengthen our internal capacity and expand our team to meet the demands of the growing industry,” Allen stated during the workshop’s opening session Wednesday. He emphasized that upskilling both commission staff and cross-agency partners on international regulatory standards and global best practices is non-negotiable ahead of the industry going live, noting “it is important that our officers, as well as our partners, are exposed to international standards and best practices before the space becomes active.” Allen did not provide a specific timeline for when commercial casino operations will officially launch in Jamaica.

For more than a decade, two high-profile projects have been tied to Jamaica’s integrated casino resort vision: the multi-billion-dollar Harmony Cove luxury resort proposed for Trelawny, and Celebration Jamaica, which has laid out plans for a large-scale tourism and entertainment complex. Despite repeated announcements and repeatedly shifted launch timelines, however, no commercial casino has yet begun operations in the country.

The participation of anti-crime and financial investigative agencies like MOCA and the Financial Investigations Division underscores the strict regulatory approach Jamaica is taking to the new sector, with a particular focus on shoring up anti-money laundering controls, blocking organized crime infiltration, and protecting the integrity of the national financial system.

GLI, which has already supported Jamaican regulators and gaming industry stakeholders across the broader gaming sector, noted the training program is designed to lay the groundwork for a transparent, credible, and well-governed national casino market. “We want to ensure that the market launches with high integrity, that the policies and regulations are clear, concise, honest, accurate and fair, and that the populace trusts that it’s well regulated,” said Matt Toler, one of the lead workshop facilitators from GLI.

Shanan Smart’s journey to becoming a leading Jamaican entrepreneur defies conventional career paths, blending a lifelong passion for science, years of groundbreaking work in media production, and a commitment to solving pressing local business challenges. Long before she navigated corporate boardrooms and coordinated complex logistics for her distribution company, Smart honed her creative instincts as a core team member behind one of Jamaica’s most beloved television institutions: *The Ity and Fancy Cat Show*. As a key creative force for the iconic program, she helped craft its signature humor, cultural resonance, and narrative rhythm that captivated audiences across the island and the Jamaican diaspora worldwide. Following the show’s widespread success, the creative duo behind it returned to television in 2019 with a new sitcom titled *Bigger Boss*, and brought Smart onto their growing team.

The fast-paced, often unpredictable environment of television production taught Smart a foundational skill: how to build something impactful from limited resources. That experience refined her storytelling discipline and showed her how creative thinking can turn a simple concept into a powerful connection between diverse groups of people. Today, that same innovative spirit is directed toward solving a critical gap in Jamaica’s business ecosystem: after years of writing television scripts, Smart is now writing a new story for Jamaican enterprise through targeted supply chain solutions.

As Chief Operating Officer of Smart Haves Distributors, Smart leads the company alongside her husband George, who serves as Chief Executive Officer. The couple founded the firm together in 2020, anchored by a clear mission: to improve lives across Jamaica by delivering high-quality essential goods and unmatched customer service. This mission has positioned the company to support local manufacturers and micro, small, and medium enterprises (MSMEs) as they navigate skyrocketing operational costs and persistent supply chain disruptions that threaten long-term business stability.

Smart Haves fills a long-unaddressed need in Jamaica’s industrial market by connecting local businesses with consistent access to essential supplies, cutting indirect procurement costs by as much as 20 percent, and delivering the operational stability that local firms have long lacked. The company’s core client base is Jamaica’s manufacturing sector, the largest contributor to the country’s goods-producing industries, accounting for 8.9 percent of Jamaica’s total gross domestic product. Between 2020 and 2024, the sector expanded by more than J$6.7 billion, creating growing demand for reliable supply chain support.

“Many managers and business owners do not realise how critical operational supplies are until they can’t get them,” Smart noted. “Local tax increases, international tariffs, and broader economic volatility make it extremely difficult for businesses to plan and budget accurately, since prices are constantly fluctuating. What we offer to businesses across the country is stability: reliability in pricing, on-time delivery, and customer service you can count on.”

Smart’s winding career path before entrepreneurship included stints across seemingly disconnected sectors, each of which prepared her for her current role. She studied environmental biology, drawn to science from a young age by a deep curiosity about how natural and man-made systems work. She later transitioned into media production, where she wrote and produced content for television, before moving into a role in sales, operations, and training at iCreate.

Looking back on her career, Smart now recognizes how every step built the skill set she needed to launch and run Smart Haves. “Science teaches you to ask questions and understand how systems function,” she explained. “Television production teaches you how to create something meaningful with limited resources. When you run a business, you need both of those skill sets.”

George Smart credits much of the company’s rapid growth to his wife’s leadership and disciplined approach to operations. “Shanan has an incredible ability to see both the big picture and the small daily details that make a business run,” he said. “She’s an amazing mother, a trusted partner, and a business leader who approaches every challenge with patience and focus. Building both our family and our company together has been one of the most rewarding experiences of my life. Seeing the level of commitment and discipline it took for her to do both has been truly inspiring.”

The couple’s professional partnership is built on a foundation of balanced trust and shared responsibility. While George leads business development and logistics strategy, Shanan oversees client relationships, inventory monitoring, and the operational systems that keep orders moving smoothly to clients across the country.

Their business model prioritizes building long-term collaborative relationships with clients over one-off transactional sales. “We see our clients as partners,” Smart explained. “When their operations run efficiently, it means their employees keep working, their customers receive products on time, Jamaicans get better prices when they shop, and the entire country benefits.”

While Smart Haves has already established a strong foothold in Jamaica’s distribution sector, Smart is already planning the company’s next phase of growth. Her long-term vision is to expand into a broader Smart Haves Group of Companies, with a new line of sustainable products that aligns with growing consumer and business demand for naturally derived ingredients.

“We’re watching the market change in real time,” she said. “People are paying closer attention to what they use every day, and businesses have to keep up with that shift. For us, it aligns perfectly with one of our core values: sustainability. We pride ourselves on thinking ahead and being innovative. So we are excited to provide products that support healthier choices while still delivering the reliability our clients depend on.”

When asked about navigating the overwhelmingly male-dominated business landscape, Smart gives an unfiltered, straightforward answer. She has had countless experiences where she has had to assert her expertise, prove her capabilities, and refuse to be dismissed or talked over by male colleagues. What makes her approach unique is that she never tried to conform to masculine norms to fit in.

“My approach has always been to show up as myself. I am confident, capable, and clear. And I don’t take anything personally,” she said.

Where many other women in male-led industries have altered their approach or tried to fit in as “one of the boys”, Smart has built her career on her own terms. Her advice to young women entering the workforce is clear: “Be yourself. If you think about it, most industries are male-dominated. You don’t need to be like the men. Learn your role, know your industry, and be disciplined. The road rises to meet the woman who walks it as herself.”