Pulse of the Caribbean

#51 Caribbean News Round Up Episode 4 Week of May 26

• Pulse of the Caribbean

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The Caribbean region demonstrates economic resilience with the Bahamas achieving its first budget surplus since independence, Barbados strengthening currency stability, and Turks and Caicos Islands projecting record revenue. Global developments include Rihanna expanding her Fenty Beauty line across the Caribbean and the Dominican Republic making history with its first table grape export to the United States.

  • Bahamas Prime Minister Philip Davis announces a projected $75 million budget surplus for 2025-2026, the first balanced budget since independence
  • Barbados Central Bank reports strong international reserves and currency stability through foreign exchange repatriations
  • Rihanna Expanding her Fenty Beauty, Skin, and Fragrance Brand Presence in the Caribbean 
  •  Dominican Republic making history with its first table grape export to the United States

These and other stories are on Episode 4 for the Week of May 26. Listen and subscribe to the  Pulse of the Caribbean News Round Up for news you need to know.

Register now for Victory Run Walk 2025 featuring 5K, 10K, and half marathon events Labor Day weekend in St. Thomas, US Virgin Islands, and Diamond Cay Marina, Jost Van Dyke, British Virgin Islands. Early bird registration ends June 1st at VictoryRunWalkVI.com.

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Speaker 1:

This is the Pulse of the Caribbean Caribbean News Roundup. Now today's Caribbean News Headlines.

Speaker 2:

This podcast is brought to you by Victory Run Walk, sponsored by the US Virgin Islands Department of Tourism. Register now for the 5K, 10k and Half and half marathon. Labor Day weekend St Thomas, us Virgin Islands and Diamond Key. Marina, yosemite, british Virgin Islands. Home of Foxy's Taboo and Gateway to the Bubbly Pool, a natural jacuzzi and hidden gem. Welcome to the Pulse of the Caribbean. News Roundup, episode four for the week of May 26th. Here's a look at what's making Caribbean headlines. We start our report in the Bahamas.

Speaker 2:

The Philip Davis administration expects a $75 million budget surplus in the 2025-2026 fiscal year, which begins on July 1st. The Bahamas Prime Minister Davis said for the first time since independence, we have finally secured the achievement of a balanced budget In his budget communication in the Bahamas Parliament on Wednesday. More than a balanced budget, he said a surplus budget. Government members chaired the disclosure, but it will be months before a budget surplus is determined. According to the Nassar Guardian, the government expects to collect $3.89 billion, or 23.6% of GDP, in 2025-2026. Spending is expected to reach $3.82 billion, or 23.1% of GDP, and the debt-to-GDP ratio is expected to reach 68.9% in 2025-2026. Among other income measures, the Prime Minister mentioned the cut of the VAT from 10% to 5% on products crucial for the well-being of citizens of the Bahamas.

Speaker 2:

In other news from Barbados, the latest annual report from the Central Bank of Barbados shows that repatriations and foreign exchange sales have strengthened Barbados' international reserves and currency stability. The measures have kept the exchange rate steady and protected the country from global economic shocks. The research showed that Barbados repatriated 84 million in foreign money. The Parliament filed report shows 17 repatriations in 2024. The report said that the bank continues to prioritize the security of Barbados' fixed exchange rate and, while the sum is down $51 million from 2023, sales continue to increase the country's international reserves. The central bank said safeguarding Barbados' stable exchange rate is essential to macroeconomic stability. The bank said maintaining the peg and safeguarding macroeconomic stability are intricately linked and we're at the forefront of the bank's strategic activities in 2024. The banking institution stressed that robust international reserves are essential for preserving the peg of two Barbados dollars to one US dollar.

Speaker 2:

Now on to the Turk and Caicos Islands. The government of the Turk and Caicos Islands anticipate $545 million this fiscal year. Turks and Caicos Islands Premier and Minister of Finance Washington Missick delivered his first budget since his progressive national party won a second term in February 2025, expecting a record $53.7 million, import duties at $132.4 million, stamp duty on land transactions at $50 million and work permits at $50 million, among other sources. Premier Misik presented the 2025-2026 National Budget in Parliament on Tuesday, may 20, 2025, titled Keeping Our Promises Building Prosperity and Securing Our Future, emphasizing sustained economic growth, significant infrastructure upgrades and a deep commitment to improving the lives of all Turks and Caicos Islanders. In 2024, turks and Caicos Islands experienced significant economic growth for the fourth consecutive year, surpassing the expected global growth rate.

Speaker 2:

Next up global superstar Rihanna, expanding her Fenty Beauty line across the Caribbean. After this, get ready for Victory Run Walk 2025. Early bird registration is open for the Virgin Islands 5K, 10k and half marathon. Register at VictoryRunWalkVIcom. Early bird discounts end June 1st. Register now and save.

Speaker 2:

Whether you're a Caribbean national or just want to learn more about the Caribbean, you've got the right podcast In our newest feature, the P pulse of the Caribbean podcast interview segment, episode number 50. Meet Israel Peterson, culture bearer and teacher, as he shares the rich tradition of Mooka Jumbie still dancing and its deep cultural significance in the US Virgin Islands. His passion for preserving this African heritage shines through as he recounts his personal journey from childhood fascination to becoming a master practitioner. Pulse of the Caribbean podcast. Listen online on our website, pulseofthegribeancom or your favorite streaming platform. This is the Pulse of the Caribbean News Roundup, episode 4, for the week of May 26.

Speaker 2:

Rihanna's brand Fenty Beauty, fenty Skin and Fenty Eau de Parfum will premiere and launch exclusively at Castries Duty Free on June 7, marking a beauty market milestone in St Lucia for beauty fans. Rihanna hinted at a regional rollout during Fenty's Barbados launch in November 2024 that she would be expanding the brand in the Caribbean region. Rihanna stated in a press release the wait is ended. I'm so excited to finally bring Fenty beauty, skin and fragrance brands to the Caribbean. St Lucia joins other Caribbean destinations in Fenty's inclusive goal with this launch. And here's our final note.

Speaker 2:

According to the Dominican Republic's Ministry of Agriculture, the Dominican Republic achieved a significant milestone when it exported table grapes grown locally for the first time to the United States. A total of 32 tons of red and green seedless grapes of the Allison and Timpson kinds of the Dominican Republic arrived at US Port in Philadelphia, Pennsylvania, on two trucks. In celebration of the accomplishments of Dominican Republic's President Luis Abinader's Agricultural Innovation Program, the Dominican Republic's Agricultural Minister, limber Cruz, personally came to the United States to accept the shipment. Cruz underlined that this export establishes a new standard for the nation's ability to grow and sell premium grapes abroad. The grapes were grown with the help of growers and the Bloom Fresh organization, which intends to increase exports to 15 to 20 containers by utilizing the Dominican Republic's year-round growing conditions.

Speaker 2:

This podcast is brought to you by Victory Run Walk, sponsored by the US Virgin Islands Department of Tourism. Register now for the 5K, 10k and Half Marathon. Labor Day weekend St Thomas, us Virgin Islands, and Diamond Key. Marina, yosvendike, british Virgin Islands, home of Foxy's Taboo and Gateway to the Bubbly Pool, a natural jacuzzi and hidden gem. Have news and information you'd like to share with us. Send news releases to news at pulseofthecaribbeancom. This has been your Pulse of the Caribbean News Roundup, episode four for the week of May 26th. I'm Keisha Blyden. See you next time.

Speaker 1:

For more Caribbean news stories and information, visit us online at pulseofthecaribbeancom. If you found value in this podcast, be sure to like and subscribe wherever you listen to podcasts, and thank you in advance for choosing Pulse of the Caribbean Caribbean News Roundup as your source for Caribbean-centered news.