• Visual Vibe Limited, a 100% subsidiary of Kintyre Holdings (JA) Limited, has entered into a strategic partnership with Knutsford Express Services Limited to deploy a network of indoor digital advertising screens across 19 Knutsford Express locations islandwide. The initiative introduces a new digital advertising platform for brands while enhancing the customer environment across Jamaica’s leading transportation and courier network.
• Through the partnership, Visual Vibe will install and manage a series of digital advertising screens strategically placed throughout Knutsford Express locations, creating a new channel for brands to engage with audiences in high-traffic environments across the island.
• The rollout of the digital screens across the 19 Knutsford Express locations is expected to be completed within approximately one month. The screens to be deployed across the Knutsford Express network have already been acquired by Visual Vibe through funding provided by Portland Holdings, which invested US$500,000 in the company to support the expansion of its digital media infrastructure platform.
• Tyrone Wilson, founder and executive chairman of Kintyre, highlighted that the partnership with Knutsford Express represents a major step for Visual Vibe and reflects the impact of the recent investment from Portland Holdings, which enabled the company to acquire the infrastructure needed to expand its advertising network. He added that Knutsford’s nationwide footprint and steady foot traffic provide brands with a strong platform to connect with consumers, while moving the company closer to its strategy of building a presence across major indoor and outdoor corridors.
• KEX’ stock price has decreased by 15.7% since the start of the calendar year. The stock closed Tuesday’s trading session at $9.68 and currently trades at a P/E of 26.9x, which is above the Junior Market Other Sector Average of 24.5x

(Source: JSE)

• On March 2, 2026, the Government of Trinidad and Tobago (GoTT) extended the country's state of emergency (SoE) for three months, effective March 3, with the previous SoE expiring on January 31. Prime Minister Kamla Persad-Bissessar stated that the extension responded to reports of threats against law enforcement, alongside spikes in gang-related activity and mass shootings driven primarily by organised crime, with over 60 killings recorded this year so far.
• The state of emergency grants the government additional policing powers, including the arrest of individuals on 'suspicion of criminal activities' and increased authority to enter and search public and private areas alongside the suspension of certain civil liberties, including access to bail.
• The extension follows a significant legislative defeat for the UNC-led government in January, when the Senate failed to pass the Zones of Special Operations (ZOSO) Bill, which would have given the prime minister authority to designate high-crime areas as special security zones. The bill required a three-fifths majority (given its suspension of certain rights) but received only 15 votes in favour with 14 against (including eight of nine independent senators) and one abstention.

• Of note, crime fell precipitously in 2025; however, the sustainability of such reductions remains tenuous. The extension of Trinidad and Tobago's (T&T’s) SoE follows a noticeable and highly touted drop in crime in 2025, which saw the murder rate fall from 45.7 murders per 100,000 people in 2024 to 27.0 in 2025. The Trinidad and Tobago Police Service (TTPS) reported that total murders on the island fell from 626 in 2024 to 369 in 2025, a 42.0% reduction, with gang-related murders also declining. Furthermore, the TTPS reports that serious crimes dropped by 8.0%, alongside reductions in violent crimes (-15.0%) and autos theft (-21.0%).
• This reduction in crime is largely attributed to the country's ongoing SoEs. The country has been under a state of emergency for roughly 10 of the last 14 months. However, BMI analysts noted previously in regard to other Caribbean markets using SoEs to combat persistent criminality, that the ability to sustain crime reductions through these measures is not guaranteed, instead it is displacing crime. The need to extend the SoE for an additional three months suggests that sustained crime reduction has yet to be achieved, especially given the reported escalation crime in February 2026 following the expiration of the previous state of emergency.
• That said, the reduction in crime in 2025 is a welcome development for a country long plagued by violent organized crime and the inflow of US-made weapons and represents a potential boost to the operating environment, if progress can be sustained. The Inter-American Development Bank (IDB) released a report in 2024 highlighting the costs of crime and violence in Latin America and the Caribbean (LAC), quantifying both the direct and indirect costs of crime by region and country.
• The report found that direct costs of crime, as a percentage of GDP, averaged 3.44% for Latin America and the Caribbean, and 4.97% for Trinidad and Tobago in 2022, the second highest in the region behind Jamaica. With additional indirect costs affecting tourism (a key area of economic diversification for Trinidad and Tobago), productivity and migration, sustaining 2025's crime reduction would meaningfully improve the country's operating environment, economy, and investment profile.
• However, with crime reportedly on the rise in the month without a state of emergency, BMI analysts remain relatively downbeat about the prospect of sustained crime reduction. Furthermore, the trade-off between the suspension of constitutional rights and reduced crime is a recipe for increased social pressures in the medium term.

(Source: BMI, A Fitch Solutions Company)

• ExxonMobil Guyana is seeking approval from the Government of Guyana (GoG) to increase oil production at its fourth project, Yellowtail, from 263,000 barrels per day (bpd) to 290,000 bpd. The company’s President, Alistair Routledge, revealed that an application has been filed with the GoG, which is currently reviewing the technical details.
• The company has completed several studies analysing the operation of the facilities for existing bottlenecks, while safety analysis was conducted on the production facilities to minimise or reduce bottlenecks to increase production. Any increase to the daily production levels will be done in a phased manner for safety purposes according to the Country Manager.
• The first step would increase daily production by “a few thousand barrels per day”, but the company is confident that Yellowtail can produce around 290,000 bpd, although higher output presents operational challenges related to lifting frequency and managing production at that level.
• To date, ExxonMobil has conducted debottlenecking activities on the other three Floating Production Storage and Offloading vessels (FPSOs) in the Stabroek Block, with Payara, Liza One and Liza Two all producing above their design capacity.
• Stakeholders have often raised concerns over the increased production activities being conducted by the operator, citing the increased risk of an oil spill and potential insurance implications, while the Government of Guyana maintains that debottlenecking is safe following review and approval by the Environmental Protection Agency (EPA) and the Ministry of Natural Resources.

(Source: Kaieteur News)

• British business activity has grown at the slowest pace in six months, and manufacturers' input costs accelerated at the fastest rate since 1992, according to a survey that underscores the risks to the government's economic agenda from the Iran conflict. The S&P Global Purchasing Managers' Index (PMI) is the first major survey to show the impact on British businesses from the United States (U.S.) - Israeli war on Iran, which is expected to slow already weak growth and push up inflation.
• The preliminary composite Purchasing Managers' Index, covering manufacturers and non-retail services businesses, sank to 51.0 in March from 53.7 in February, which was the joint-highest since August 2024. "March's flash PMIs show that the conflict in the Middle East is already going a long way to boosting inflation and extinguishing GDP growth. And this is just the start," Paul Dales, chief United Kingdom (U.K.) economist at ⁠ Capital Economics, said.
• S&P Global's gauge of input prices for British manufacturers, which measures how fast costs are rising, jumped to 70.2 in March from 56.0 in February, the biggest leap from one month to the next since sterling tumbled out of Europe's Exchange Rate Mechanism in 1992. Higher prices for fuel, transport and energy-intensive raw materials were the main reasons for the increase.
• The survey's headline reading was below all forecasts in a Reuters poll of economists, though above the 50-level that divides growth from contraction. It was also higher than it was in some of the run-up to finance minister Rachel Reeves' budget in November, when many businesses feared they would be hit with higher taxes.
• The equivalent PMI for the euro zone fell much less sharply, dropping to 50.5 in March from 51.0 in February. Although President Donald Trump paused some attacks on Iran ⁠ on Monday, March 23, 2026, and said there had been productive talks, British Prime Minister Keir Starmer said the government needed to plan on the basis that the conflict could continue for some time, and on Tuesday, Iran launched waves of missiles at Israel. Reeves was due to address parliament on Tuesday on the impact of the war on the economy, which she had promised to boost before an election in 2024, and on possible support measures for energy users.

(Source: Reuters)

• The Israeli military estimates it would need several more weeks of fighting to complete its war goals in Iran, two Israeli military officials said on Tuesday, March 24, 2026. That timeline could be cut short as the United States (U.S.) makes efforts to end the war. President Trump said the U.S. is holding "productive" talks to seek an end to the Iran war, though Iran denied the existence of direct talks.
• Pakistan, Egypt, Oman and Turkey have been playing a role in backchannel efforts toward reaching a U.S.-Iran ceasefire, according to an Egyptian official, speaking on condition of anonymity to discuss the discreet negotiations. Israeli Prime Minister Benjamin Netanyahu acknowledged Trump's diplomatic efforts but did not say whether he supported them.  "President Trump believes there is an opportunity to leverage the tremendous achievements we have reached alongside the U.S. military to realise the goals of the war through an agreement, an agreement that will safeguard our vital interests," Netanyahu said in a video address posted online.
• Though Israel's military said this week it has destroyed or disabled the majority of Iran's ballistic missile launchers, Iran continues to launch missiles at Israel. That includes an Iranian missile that evaded U.S. and Israeli air defence systems and hit a residential neighbourhood in Tel Aviv, damaging several apartment buildings and lightly wounding some people, according to Israeli authorities.
• The Israeli military still needs weeks to complete its war aims, the two Israeli officials said, speaking on condition of anonymity to discuss internal military deliberations. One of the officials, serving in a senior role in the Israeli military's operations directorate, said the war has degraded Iran's chain of command, delayed Iran's nuclear plans and destroyed many of its military industries, but that Iran remains an "active, dangerous player in the region."
• The official also said that there are remaining Iranian military industries and capabilities that Israel seeks to attack. "We are in many ways halfway there," the official said. "There are very significant achievements, both at the tactical level and at the strategic level. But there has not been a full strategic victory." The official said the Israeli military does not know when Trump will declare the war over.

(Source: NPR.org)

• The Jamaica Stock Exchange (JSE) is officially launching its electronic trading platform for Government of Jamaica (GOJ) securities on Wednesday, March 25, 2026. The platform moves the trading of government debt into a centralised, electronic environment, replacing the older or less efficient manual processes.
• A primary goal of the platform is to provide real-time data and visibility into pricing and volumes, fostering a more open fixed-income market. By providing a structured secondary market for GOJ bonds, the platform aims to make it easier for investors to buy and sell securities, thereby improving overall market liquidity.
• The initiative is designed to strengthen Jamaica's domestic financial sector by offering a more professional, automated and accessible capital market solution for both institutional and individual investors.
• The system will provide straight-through processing for clearing and settlement, leveraging the BOJ’s Real-Time Gross Settlement (RTGS) and Central Depository System (CDS) systems, while JamClear CSD ensures secure, same-day settlement capability.
• This will result in the elimination of over-the-counter trading, with investors instead trading directly through the NASDAQ platform. Trades will be visible to all investors, and price history reporting will be available, allowing market participants to view traded prices and volumes. This enhanced transparency will support improved price discovery and setting, as well as better visibility into supply and demand volumes.

(Sources: JSE and NCBCM Research)

• MFS Capital Partners has signed and entered into a Memorandum of Understanding (MOU) with Century Business Machines Limited (CBM) to acquire a 100% stake in the company, effective March 18, 2026.
• Century Business Machines Limited (CBM) is a leading Jamaican provider of office supplies, technology, and furniture, offering comprehensive workplace solutions backed by decades of reliable service, quality products, and strong customer support.
• The MOU sets the framework for exclusive negotiations between the parties and outlines the key terms and conditions for the proposed transaction. The acquisition remains subject to the satisfactory completion of due diligence, the negotiation and execution of definitive agreements, and the receipt of any required regulatory approvals.
• The acquisition forms part of MFS Capital's growth strategy and is expected to significantly enhance the Company's revenue base and portfolio diversification.
• MFS’s stock price has declined by 2.6% since the start of the year to close at $0.40 on Monday, March 23, 2026. At this current price, its P/E of 3.5x is below the Junior Market Financial Sector average of 14.1x.

(Source: JSE)

• The scramble to secure critical mineral supply chains has become a defining feature of Western economic policy, driven by surging artificial intelligence (AI)-related demand and deepening concerns over Mainland China’s dominance across the value chain. In this context, the International Energy Agency’s 2025 report projects potential supply shortfalls of around 30% for copper and 40% for lithium by 2035, while AI-driven demand is pushing up the price of the minerals that power AI infrastructure itself.
• Latin America is already a net beneficiary of current geopolitical trends and stands to gain further by leveraging its position as a major supplier of critical minerals. Limited interstate conflict, improving investment conditions, and large and concentrated mineral endowments position the region as a more reliable and stable source of supply that will support a rising share of global mining investment and capital inflows.
• This strengthening regional supply outlook coincides with a more active US policy focus on LATAM, with the Trump administration moving aggressively to secure supply through bilateral frameworks and agreements with countries such as Argentina, Ecuador, Paraguay and Peru, as part of a broader strategy targeting both raw material supply and processing capacity.
• Against this backdrop, the current environment, where Western governments are actively seeking to develop processing capacity outside China, creates scope for LATAM countries to move up the value chain into processing and refining, thereby allowing producers to leverage competing strategic interests to secure commitments for local processing capacity.
• Notwithstanding, progress remains at an early stage and depends on overcoming regulatory complexity and infrastructure constraints, with early investment trends in countries like Brazil and Argentina indicating gradual progress. Despite Brazil holding roughly a quarter of global rare-earth reserves, it accounts for less than 0.5% of production.
• Moreover, a second channel through which this shift will materialise is through downstream energy and digital infrastructure. LATAM’s abundant renewable energy resources, particularly hydro, attract investment from US hyperscalers, such as Amazon, Microsoft and Google, who are expanding their presence in Brazil and Chile, while Mexico’s nearshoring boom is driving data centre development. However, risks such as environmental opposition, regulatory uncertainty, and the potential for a resource curse could limit the region’s ability to fully capitalise on these trends.

(Source: BMI, A Fitch Solutions Company)

• Latin American governments are launching a sweeping realignment of energy and fiscal policies, warning that the surge in oil prices from the Iran war threatens regional stability. Dominican Republic President Luis Abinader announced a “responsible” adjustment to domestic fuel prices to protect public finances.
• President Abinader called on businesses to adopt remote work and urged a new level of citizen consciousness to optimise fuel consumption. Warning that the surge creates an escalating fiscal burden that could “jeopardise the sustainability” of the state, Abinader’s administration is preparing to subsidise fertilisers to the tune of 1 billion pesos ($17 million) and redirect 10 billion pesos to bolster social programs. Abinader’s remarks mirror a broader regional pivot as leaders across the political spectrum grapple with the fallout of global energy volatility. “This is not due to domestic economic weakness, but rather because we are facing an external shock of great magnitude,” he said.
• While the government will bear the brunt of the effort, citizens must prepare for “inevitable sacrifices,” including upward pressure on electricity and food costs, Abinader said. In Chile, President José Antonio Kast said in an interview with La Tercera that “things cannot remain as they are if the price of oil doubles.” Shunning what he termed “populist exits,” Kast signalled he will use executive authority to adjust the Fuel Prices Stabilization Mechanism (MEPCO) fuel-price stabilisation mechanism.
• He framed the measures as part of a culture of responsibility required to confront an existing fiscal crisis now exacerbated by global conflict. Colombian President Gustavo Petro took the lead in the region on Saturday, saying that subsidised gasoline prices “can no longer be sustained” and will start tracking international levels. In a strategic pivot, Petro said state oil company Ecopetrol’s profits would be directed to fund subsidised, Colombian-made fertilisers, effectively moving the state’s financial support from the pump to the farm.
• Diesel subsidies will be restricted exclusively to cargo transport, he said. Across Latin America, the shifts signal that the era of state-funded fuel is ending to make room for fiscal survival as the Iran war has nearly closed off the Strait of Hormuz, a chokepoint through which 20% of the world’s oil typically flows. Oil prices have surged, with Brent crude rising 55% since hostilities began on February 28, 2026.

(Source: Bloomberg News)

• Oil prices plunged, and stock markets rebounded after President Donald Trump said the United States (U.S.) would hold off on strikes against Iranian power plants, citing "constructive" discussions about ending the conflict in the Middle East. The president wrote on social media that the two countries had held talks about a "COMPLETE AND TOTAL" resolution, but Iran denied these talks had happened. The price of Brent crude sank, while European and U.S. shares rose following Trump's statement.
• Trump had previously said he would "obliterate" Iranian power plants if the Strait of Hormuz shipping route was not reopened in 48 hours. Iran had said it would respond by targeting key infrastructure in the region. The comments over the weekend had rattled financial markets, adding to fears that the U.S.-Israeli war with Iran would be a prolonged conflict.
• At one point on Monday, March 23, 2026, the price of Brent had hit $113 a barrel, but it tumbled in the immediate aftermath of Trump's latest comments. Oil prices fell to a low of $96 a barrel before rebounding to $103. While oil fell, stocks rose. London's FTSE 100 index ended the day flat after being down more than 2% earlier on Monday. Germany's Dax index also rebounded to close 1.2% higher while France's Cac ended up roughly 0.9%. In the U.S., both the S&P 500 index and the Dow Jones were up more than 1% at midday.
• Stocks in Asia, which closed before Trump's latest comments, had seen heavy falls with Japan's Nikkei index dropping 3.5% and South Korea's Kospi down 6.5%. Of note, Japan and South Korea have been particularly affected by the conflict, as they are heavily dependent on oil and gas that would normally pass through the Strait of Hormuz, which has been blocked since the start of the war

(Source: BBC)