Carib Scope

分类： business

  • $4-B PRICE TAG

    $4-B PRICE TAG

    PriceSmart Inc. (NASDAQ: PSMT) is accelerating its Caribbean growth strategy with a significant $27.6 million investment to establish a new warehouse club on South Camp Road in Kingston, Jamaica, while simultaneously expanding its high-volume Portmore location in St. Catherine. The expansion initiative was detailed in the company’s recent Q1 FY2026 earnings report and subsequent executive commentary.

    CEO David N. Price confirmed adjusted opening timelines for upcoming Jamaican locations due to operational disruptions from Hurricane Melissa. Despite these challenges, existing Kingston and Portmore facilities demonstrated resilience, resuming operations rapidly post-storm. The company anticipates no further delays in its expansion schedule.

    The new Kingston location represents a strategic real estate move through PriceSmart Realty (Jamaica) Limited, which secured a 30-year lease agreement with South Camp Fourteen Limited, featuring two 10-year renewal options. This three-acre property, situated near Sabina Park and The Convent of Mercy Academy, will become PriceSmart’s 60th global location upon completion.

    Concurrently, the company has acquired five acres in Ironshore, Montego Bay, for its third Jamaican warehouse club. This North Coast development will significantly enhance service accessibility beyond the existing PriceSmart Fresh Bakery in Bogue City Centre.

    Jamaican operations have demonstrated robust performance with net merchandise sales growing 13.1% in FY2025, building upon 12.2% growth in the previous period. This consistent performance justifies continued investment, including the Portmore location’s 15-20% expansion in November 2024 and upcoming parking infrastructure enhancements.

    CEO Price emphasized the strategic importance of physical expansions: ‘When we expand warehouses or parking facilities, we address the positive challenge of high customer traffic. These improvements enhance member experience through faster ingress and egress while optimizing space turnover.’

    The Caribbean segment reported $365.31 million in revenue (6% growth) with membership accounts reaching 510,819 (5% increase). Despite higher operating expenses slightly reducing profitability, the region saw $20.60 million in capital expenditures during the quarter.

    Globally, PriceSmart achieved $1.38 billion in consolidated revenue (10% growth) with 56 operational warehouse clubs. The company posted $40.17 million net profit (7% increase) and reached a record stock price of $133.03, maintaining a $4.06 billion market capitalization.

    Future expansion plans include a tenth Costa Rican location in Ciudad Quesada (Fall 2026) and market entry into Chile, where the company has secured two prospective sites and appointed country leadership.

    Photographic documentation shows ongoing development at both the South Camp Road construction site and the expanding Portmore location, visually confirming the company’s substantial capital investment in Jamaican infrastructure.

  • 2026 Kia Tasman: The next step

    2026 Kia Tasman: The next step

    Kia Motors has launched a strategic offensive into the highly competitive dual-cab pickup sector with the all-new Tasman, marking a pivotal moment in the brand’s ambitious expansion. This move echoes the brand’s earlier disruption of the premium performance sedan market with the Stinger, now targeting a segment long dominated by established Asian rivals.

    **Design Philosophy: Futuristic Meets Functional**
    The Tasman represents a ground-up design with no direct predecessor, allowing Kia’s designers free rein. The exterior merges sci-fi-inspired SUV aesthetics with a retro, aggressively boxy form. This results in a tough, toy-like appearance complemented by modern elements like vertical lighting and the signature tiger grille. Beyond its bold looks, the Tasman is built for utility. Lower plastic trim protects against off-road abrasions, integrated steps on the rear bumper aid access, and practical features include roof rails, bed mounting points, and a damped tailgate.

    **Interior: Uncompromised Luxury and Technology**
    Stepping inside reveals a cabin that transcends typical pickup truck standards. The interior rivals premium sedans in technology, material quality, and space. Soft-touch surfaces, leather stitching, and subtle ambient lighting create an upscale atmosphere. Practicality remains paramount, featuring a fold-out centre console, hidden storage compartments, and large, tactile buttons operable with work gloves. The panoramic sunroof and generous glass area contribute to an airy environment, ensuring rear passenger comfort.

    The technological centerpiece is the Integrated Panoramic Display, combining a 12.3-inch digital instrument cluster with an equally sized infotainment touchscreen. Kia’s intuitive interface operates flawlessly, offering extensive vehicle customization. Nearly all primary functions—wipers, lights, climate control—can be set to automatic. This is supported by Kia’s comprehensive suite of driver-assist and safety features, making operation seamless.

    **Performance: Engineered for Capability**
    Rejecting unibody pretensions, Kia engineered the Tasman with a traditional body-on-frame construction for maximum off-road durability. It boasts 252mm of ground clearance, 800mm wading depth, and impressive approach (32.2°), breakover (25.8°), and departure (26.2°) angles. Payload capacity reaches 1,000kg with a towing capability of 3,500kg.

    Power is delivered by Kia’s proven 2.2-litre four-cylinder turbodiesel, generating 207bhp and 325lb/ft of torque through a smooth eight-speed transmission. Renowned for its refinement, power, and fuel efficiency, this engine is notably quiet from the driver’s seat. The suspension is calibrated to handle diverse terrains while maintaining on-road composure. The drivetrain offers robust two-wheel drive, automatic four-wheel drive engagement, and a locking rear differential for challenging conditions, making it accessible even for off-road novices.

    **Strategic Market Position**
    The global pickup market traditionally splits between commercial users and lifestyle buyers. The Tasman is meticulously crafted for the latter—individuals who require daily drivability paired with weekend adventure capabilities. It successfully blends the refinement and technology of a premium sedan with the rugged prowess of a true workhorse. For its competitors, the Tasman does not feel like a debut attempt but a polished, fully realized product that arrives poised for market impact.

  • First LNG shipment arrives for Manzanillo Power Land project

    First LNG shipment arrives for Manzanillo Power Land project

    Energía 2000 has successfully executed a critical docking operation for the LNG carrier Energoslo, delivering the inaugural liquefied natural gas shipment for the Manzanillo Power Land generation initiative. This achievement follows comprehensive operational and safety assessments mandated by the LNG provider.

    The fuel transfer employed an advanced ship-to-ship methodology, with the LNG being delivered to the Energos Freeze floating storage and regasification unit (FSRU). This vessel has been stationed at Energía 2000’s offshore terminal in Manzanillo Bay since September 2025. The substantial shipment, approximately 50,000 cubic meters of LNG, will facilitate extensive operational testing prior to the plant’s formal commissioning.

    This development signifies a transformative advancement for the Dominican Republic’s energy infrastructure, establishing the nation’s first permanent FSRU operation in Manzanillo. Beyond enhancing national energy security, the MPL initiative is projected to stimulate substantial economic growth in the northern border territories, creating employment opportunities and driving development in Pepillo Salcedo and Montecristi province.

    At full operational capacity, Manzanillo Power Land will contribute 440 megawatts to the national grid—approximately 12% of the country’s total generation capacity—utilizing natural gas as a more efficient and environmentally favorable fuel source. Energía 2000 has emphasized its dedication to constructing contemporary and dependable energy infrastructure that aligns with strategic national objectives, developed in collaboration with governmental authorities.

  • Air France to resume direct Paris–Punta Cana flights in January 2026

    Air France to resume direct Paris–Punta Cana flights in January 2026

    In a significant move to enhance transatlantic travel connectivity, Air France has officially confirmed the reinstatement of its non-stop seasonal service linking Paris-Charles de Gaulle (CDG) with Punta Cana International Airport (PUJ) in the Dominican Republic. Operations are scheduled to commence on January 13, 2026, continuing through the winter season until March 28, 2026.

    The revitalized route will feature a tri-weekly flight schedule, with departures set for Tuesdays, Thursdays, and Saturdays. The airline will deploy its wide-body Boeing 777-300ER aircraft on this corridor, renowned for its long-haul comfort and premium service offerings. Advance bookings are currently active across all official Air France reservation platforms.

    Grupo Puntacana, a key stakeholder in the region’s tourism infrastructure, has announced plans for a ceremonial inauguration event. The gathering is slated for 6:30 PM on January 13, 2026, at Terminal B of Punta Cana International Airport. The event will convene high-profile attendees from the Dominican government, senior airline management, airport executives, and prominent figures from the tourism industry.

    This strategic resumption elevates Punta Cana to the status of Air France’s sixth Caribbean destination, underscoring the sustained demand from French and broader European travelers for the Dominican Republic’s premier sun-and-beach vacation offerings. The reestablished link is anticipated to significantly bolster tourist arrivals and strengthen economic ties between the regions.

  • Dominican Republic attracts over US$3.5 billion in energy investment

    Dominican Republic attracts over US$3.5 billion in energy investment

    Santo Domingo has emerged as a powerhouse for energy sector investment, with the Dominican Republic securing an impressive $3.5 billion in foreign direct investment for power generation between 2020 and 2025. This remarkable financial influx, announced by Alfonso Rodríguez Tejada, Executive Director of the Dominican Electricity Transmission Company (ETED), underscores the nation’s growing appeal to international investors.

    The investment surge, averaging $1 billion annually, stems from unprecedented private-sector confidence in the country’s economic direction. Rodríguez Tejada emphasized that President Luis Abinader’s administration has created ideal conditions for energy development through political stability, transparent governance, and a coherent national development strategy.

    Critical to this success has been the comprehensive modernization of the nation’s transmission infrastructure. The ETED has successfully integrated over 1,300 megawatts of new capacity into the National Interconnected Electric System (SENI), establishing technical foundations that support continued expansion. This infrastructure advancement has transformed the Dominican Republic’s energy profile, presenting investors with a reliable and robust grid capable of accommodating substantial new generation projects.

    The tangible outcomes of this investment boom are reflected in dramatically improved electricity coverage rates. National access has surged from 85% in 2020 to exceeding 98% currently, representing one of the most rapid electrification expansions in the region.

    Rodríguez Tejada concluded that the current administration has presided over the most significant private investment period in the nation’s energy history, attributing this achievement to institutional stability, legal certainty, and a business climate optimally configured for sustainable development.

  • Guyana can withstand oil price decline if US sells Venezuela’s crude

    Guyana can withstand oil price decline if US sells Venezuela’s crude

    Amidst global oil price fluctuations, Guyana’s burgeoning petroleum sector demonstrates resilience against potential market pressures from US marketing of Venezuelan crude. Business analyst Christopher Ram asserts that while increased Venezuelan oil supplies could drive prices down to the early $50s range—representing a 12-15% decline—Guyana’s simultaneous production scaling will counteract revenue impacts through volume increases.

    ExxonMobil’s current Stabroek Block operations yield approximately 900,000 barrels daily from Liza 1, Liza 2, and Payara developments. The consortium, including China National Overseas Oil Corporation and Chevron, anticipates reaching 1.7 million barrels per day by 2029 as additional projects (Uaru, Whiptail, Longtail, and Hammerhead) commence operations. Ram emphasizes that Venezuela’s heavy crude presents no direct competitive threat to Guyana’s premium light sweet oil due to fundamental quality differences.

    The market context reveals significant oversupply concerns, with Brent crude closing at $59.96 per barrel on January 7, 2026—well below Guyana’s projected $71.90 average for the previous year. Actual 2025 prices averaged $69.00 annually, declining from January’s $79 peak to December’s $63 low—the weakest monthly performance since early 2021.

    Meanwhile, civil society activists including Ram and Vanda Radzik staged symbolic protests near the US Embassy in Kingston, condemning the military capture of Venezuelan President Nicolás Maduro and First Lady Cilia Flores. The demonstration, constrained by police barriers, featured accusations of US oil-motivated interventionism and demands for evidence regarding narco-terrorism charges against Maduro. Radzik characterized the operation as undermining Caribbean peace initiatives and regional sovereignty.

    International relations expert Professor Mark Kirton warns that Venezuelan production resurgence could introduce competitive pressures within an already saturated market, potentially affecting Guyana’s revenue streams. However, energy analysts note that substantial investment in Venezuela’s deteriorated infrastructure remains prerequisite to significant output restoration, creating natural market buffers for Guyana’s continued development.

  • Hotel says sewage plant meets standards amid residents’ concerns

    Hotel says sewage plant meets standards amid residents’ concerns

    Royalton Hotels and Resorts has publicly addressed mounting concerns regarding the construction of a new sewage treatment plant for its Royalton Vessence Barbados resort in Holetown. During a media briefing on Tuesday, company executives assured the public that the facility will adhere to Barbados’ rigorous environmental regulations, which they claim exceed regional standards.

    Executive Vice-President Daniel Diaz confirmed that construction along Highway 1 would conclude within approximately ten days if work proceeds expeditiously. The project involves implementing traffic management measures to facilitate the installation of new utility lines for the hotel development. Diaz emphasized that all construction strictly follows previously approved plans presented during a 2020 town hall meeting, with no subsequent modifications made to the original design.

    While acknowledging suggestions to relocate the treatment facility, Diaz defended its current placement as necessary for upgrading infrastructure in an area that has experienced limited development over the past twenty years. The executive detailed the advanced features of the planned facility, describing it as a state-of-the-art, enclosed system equipped with odor control and noise reduction technology.

    Dr. William Duguid, Senior Minister for Coordinating Infrastructural Projects, provided context regarding the West Coast’s wastewater management challenges. Unlike Bridgetown and the South Coast—which benefit from a central sewage treatment plant serving approximately 4,000 customers—the West Coast lacks a comprehensive sewer system. Dr. Duguid noted that several prominent properties along the coast, including Glitter Bay, Sandy Lane, Mullins, and St. Peter’s Bay, already operate individual treatment plants without incident.

    The timing of construction during peak tourist season raised additional concerns about potential disruptions to nearby hospitality businesses. Diaz acknowledged these challenges but explained that the scale of the resort development made the scheduling unavoidable. Royalton’s technical team has conducted assessments indicating that noise and dust impacts will remain minimal throughout the construction phase.

  • Belize Bank Earns Double A Plus Rating from Regional Evaluator

    Belize Bank Earns Double A Plus Rating from Regional Evaluator

    In a significant financial milestone, Belize Bank Limited has achieved the highest possible local credit rating of AA+ from Caribbean Information and Credit Rating Services (CariCRIS), marking a powerful endorsement of the institution’s fiscal stability and operational excellence. The prestigious rating comes after seven consecutive years of rigorous independent evaluation by the region’s premier rating agency.

    CariCRIS, backed by central banks throughout the Caribbean and partially owned by the Caribbean Development Bank and Inter-American Development Bank, employs global standards from SMP Global in its assessment processes. The organization provides comprehensive evaluations of financial strength and credit risk across multiple industries, making its endorsement particularly meaningful for financial institutions.

    Executive Chairman Filippo Alario expressed considerable satisfaction with the 2025 rating results, characterizing them as “a powerful statement of our financial strength and standing.” The bank received two distinct ratings: the AA+ local rating (the highest achievable in any jurisdiction) and a BBB regional rating with a stable outlook, positioning Belize Bank alongside the region’s most robust financial institutions.

    The evaluation process, which commences each October, involves extensive scrutiny by lead examiners who submit detailed questionnaires and conduct follow-up validations. Senior executives across all departments participate in thorough interviews to ensure comprehensive assessment of the bank’s operations.

    While the technical details of credit ratings may not immediately resonate with everyday customers, Alario emphasized the rating’s significance for international investors and business partners seeking reliable financial institutions. The AA+ designation serves as independent validation of the bank’s sound management practices and financial health, providing assurance to both local customers and global stakeholders.

    Maintaining this elite rating will require continued prudent financial management and adaptability to evolving economic conditions in Belize. The achievement not only reflects positively on Belize Bank but also signals growing confidence in the Belizean financial sector’s stability and potential for international investment.

  • Cattle Industry Could Overtake Sugar as Belize’s Top Export Earner

    Cattle Industry Could Overtake Sugar as Belize’s Top Export Earner

    Belize’s agricultural landscape is undergoing a significant transformation as its cattle industry demonstrates remarkable growth potential to overtake sugar as the nation’s primary export revenue source. According to Belarmino Esquivel, Principal Agriculture Officer and head of the livestock program at the Ministry of Agriculture, this shift reflects both the vulnerabilities of traditional crops and the emerging strength of livestock farming.

    Esquivel emphasized that Belize can no longer depend exclusively on its three traditional foreign exchange earners—citrus, bananas, and sugar—which face persistent threats from climate change, disease outbreaks, and declining productivity. The cattle sector has emerged as a resilient alternative, with Esquivel projecting it could surpass sugar in foreign exchange earnings as early as 2026.

    Statistical evidence reveals extraordinary expansion in Belize’s national cattle herd over the past decade. From approximately 77,000 head in 2014, the inventory has surged to 215,000 animals by 2015, maintaining a consistent upward trajectory. This growth is primarily fueled by robust demand from neighboring markets, particularly Guatemala and Mexico.

    In 2024 alone, Belize exported over 35,000 cattle to Guatemala, generating between BZ$50-60 million, with an additional 6,000 heads shipped to Mexican markets. Unlike other export commodities dominated by large agricultural estates, the cattle industry remains predominantly operated by small-scale farmers, with 70% maintaining herds between one and fifty animals.

    Esquivel highlighted improved access to affordable financing through programs such as CRESAP, Sembrando Vida, and SAIB, which offer favorable loan terms and matching grants. The 60/40 matching grant system specifically enables farmers to pursue climate-smart investments with reduced initial capital requirements. With domestic consumption steady at approximately 10,000 cattle annually and exports continuing their upward trend, livestock farming appears positioned to become Belize’s foremost agricultural income generator.

  • Grenada Tourism Authority vacancy: Research Officer

    Grenada Tourism Authority vacancy: Research Officer

    The Grenada Tourism Authority (GTA), the national organization responsible for destination marketing and promotion, has announced a career opportunity for a Research Officer to join its team. This permanent position represents a strategic investment in data-driven tourism development aimed at stimulating economic prosperity across the Caribbean nation.

    The successful candidate will play a pivotal role in advancing Grenada’s tourism sector through comprehensive market intelligence and analytical insights. The position demands a unique combination of advanced research capabilities and practical application within the Caribbean tourism context.

    Core competency requirements include sophisticated qualitative and quantitative research skills, with particular emphasis on analytical processing of diverse information sources. The role requires exceptional critical judgment to identify issues and develop practical solutions while managing priorities within strict deadlines. Teamwork and interpersonal skills are essential, as the position involves collaboration across multidisciplinary teams and establishing professional credibility with stakeholders.

    Technical prerequisites include advanced proficiency in Microsoft Excel and demonstrated experience with Statistical Package for the Social Sciences (SPSS). Applicants must possess document management software expertise, including Microsoft Office Suite, with additional consideration given to those familiar with Adobe Creative Suite and Canva platforms.

    The minimum qualifications specify a bachelor’s degree in Economics, Marketing, Business, Tourism or related disciplines, complemented by three years of professional experience in data gathering environments. The GTA emphasizes its organizational values of positivity, respect, transparency, commitment, and excellence in seeking candidates who embody these principles.

    Interested professionals must submit their curriculum vitae and cover letter through the official portal at puregrenada.bamboohr.com/careers/57 before the application deadline of January 26, 2026. The selection process will only contact candidates who meet the specific requirements outlined for this research-focused position.