Daily Archives: May 8, 2023

By NAN Staff Writer

News Americas, LONDON, England, Mon. May 8, 2023: A Caribbean born baroness was front and center in the Royal Box last night on King Charles right at the all-stars coronation concert, leading to many asking online who was sitting next to the king.

She is Dominica-born Patricia Janet Scotland, Baroness Scotland of Asthal, PC, KC, a British diplomat, barrister and politician, serving as the sixth secretary-general of the Commonwealth of Nations. The 67-year-old was elected at the 2015 Commonwealth Heads of Government Meeting and took office on April 1 2016.

Baroness Scotland is the 10th child of 12 born to Roman Catholic parents, a Dominican mother and Antiguan father. Her family emigrated to Walthamstow in north-east London when she was two years old, where she attended Chapel End Primary School and Walthamstow School for Girls. She then went on to Mid Essex Technical College in Chelmsford, where she obtained a Bachelor of Laws degree from University of London as an external student. She was called to the bar at the Middle Temple in 1977, specializing in family law, and was called to the Dominican bar in 1978.

WINDSOR, ENGLAND MAY 07: (L-R) The Prince of Wales, Rishi Sunak, Camilla, Queen Consort, Akshata Murthy, King Charles III and Patricia Scotland during the Coronation Concert on May 07, 2023 in Windsor, England. The Windsor Castle Concert is part of the celebrations of the Coronation of Charles III and his wife, Camilla, as King and Queen of the United Kingdom of Great Britain and Northern Ireland, and the other Commonwealth realms that took place at Westminster Abbey yesterday. High-profile performers will entertain members of the royal family and 20,000 guests including 10,000 members of the public. (Photo by Leon Neal/Getty Images)

In 1991, Scotland became the first black woman to be appointed a Queens Counsel. She later founded the (now closed) 1 Grays Inn Square barristers chambers. Early in 1997, she was elected as a Bencher of the Middle Temple. Scotland was named as a Millennium Commissioner on 17 February 1994, and was a member of the Commission for Racial Equality. She received a life peerage on a Labour Party list of working peers and was created Baroness Scotland of Asthal, of Asthal in the County of Oxfordshire on 30 October 1997.

From 1999 to 2001, Scotland was the Parliamentary Under-Secretary of State at the Foreign and Commonwealth Office, where she was responsible, among others, for the UK Governments diplomatic relations with North America, the Caribbean, Overseas Territories, Consular Division, British Council, administration and all Parliamentary business in the House of Lords.

In 2001 she became Parliamentary Secretary, Lord Chancellors Department, and was made a member of the Privy Council of the United Kingdom.

In 2003, Scotland was made Minister of State for the Criminal Justice System and Law Reform at the Home Office and deputy to the Home Secretary. She served in that post until 2007 under three Home Secretaries: David Blunkett, Charles Clarke and John Reid.

On 28 June 2007, Scotland was appointed Attorney General by Prime Minister Gordon Brown. She was the first woman to hold the office since its foundation in 1315.

In November 2012, she was appointed Prime Ministerial Trade Envoy to South Africa.

In December 2014, Scotland was elected as the Alderman for the ward of Bishopsgate in the City of London, having stood (in accordance with convention in the City) as an independent candidate.

At the 2015 Commonwealth Heads of Government Meeting, Scotland was nominated for the position of Commonwealth Secretary-General by her native country of Dominica and defeated Antiguan diplomat Ronald Sanders, who was thought to have been the frontrunner for the position, and former deputy secretary-general for political affairs Mmasekgoa Masire-Mwamba of Botswana to become the 6th Commonwealth Secretary-General and the first woman to hold the post.

Performances at the event came from several singers across the Commonwealth, including the Caribbean, who made up the virtual Commonwealth choice as well as mega stars includingLionel Richie,Katy PerryandAndrea Bocelli. Some 20,000 guests attended the event atWindsor Castle. The Reggae Roots choir, a community choir based in Birmingham performed as part of the Choir as well as singers from The Bahamas, Antigua & Barbuda, Grenada and Trinidad and Tobago.

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In 1991, Scotland became the first black woman to be appointed a Queens Counsel. She later founded the (now closed) 1 Grays Inn Square barristers chambers. Early in 1997, she was elected as a Bencher of the Middle Temple. Scotland was named as a Millennium Commissioner on 17 February 1994, and was a member of the Commission for Racial Equality. She received a life peerage on a Labour Party list of working peers and was created Baroness Scotland of Asthal, of Asthal in the County of Oxfordshire on 30 October 1997.

From 1999 to 2001, Scotland was the Parliamentary Under-Secretary of State at the Foreign and Commonwealth Office, where she was responsible, among others, for the UK Governments diplomatic relations with North America, the Caribbean, Overseas Territories, Consular Division, British Council, administration and all Parliamentary business in the House of Lords.

In 2001 she became Parliamentary Secretary, Lord Chancellors Department, and was made a member of the Privy Council of the United Kingdom.

In 2003, Scotland was made Minister of State for the Criminal Justice System and Law Reform at the Home Office and deputy to the Home Secretary. She served in that post until 2007 under three Home Secretaries: David Blunkett, Charles Clarke and John Reid.

On 28 June 2007, Scotland was appointed Attorney General by Prime Minister Gordon Brown. She was the first woman to hold the office since its foundation in 1315.

In November 2012, she was appointed Prime Ministerial Trade Envoy to South Africa.

In December 2014, Scotland was elected as the Alderman for the ward of Bishopsgate in the City of London, having stood (in accordance with convention in the City) as an independent candidate.

At the 2015 Commonwealth Heads of Government Meeting, Scotland was nominated for the position of Commonwealth Secretary-General by her native country of Dominica and defeated Antiguan diplomat Ronald Sanders, who was thought to have been the frontrunner for the position, and former deputy secretary-general for political affairs Mmasekgoa Masire-Mwamba of Botswana to become the 6th Commonwealth Secretary-General and the first woman to hold the post.

Performances at the event came from several singers across the Commonwealth, including the Caribbean, who made up the virtual Commonwealth choice as well as mega stars includingLionel Richie,Katy PerryandAndrea Bocelli. Some 20,000 guests attended the event atWindsor Castle. The Reggae Roots choir, a community choir based in Birmingham performed as part of the Choir as well as singers from The Bahamas, Antigua & Barbuda, Grenada and Trinidad and Tobago.

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Caribbean News - This Caribbean-Born Baroness Sat Next To King ... - Caribbean and Latin America Daily News - News Americas

Careers in information technology are a great option for young people, but many are unable to take advantage of the varied opportunities that exist due to the high cost of education for IT careers.

Sagicor is working to make a difference in this regard and recently donated to AntiguaRecon to support the education of young people who are training to be cybersecurity experts with this fledgling organisation.

Samuel Benjamin, Head of Sales at the regional insurance company met with Adam Dennis, Founder and Lead Instructor of AntiguaRecon, to discuss the type of opportunities that would be available to the graduates of the programmes offered by the school and also presented him with a cheque for $10,500 to support continued work.

Following the meeting, Benjamin said, We are deep into the IT age and in order to ensure that Antigua and its population can compete and win, the traditional ways of doing things are no longer enough. Adam and his team are working assiduously to ensure that our youth are able to take their place within the world. Jobs in cybersecurity, which can be done remotely, are an even better option as it means that they dont have to leave Antigua and Barbuda to do so. For this reason, we at Sagicor are happy to provide this support to Antigua Recon and the young people that are going to be educated there.

Dennis was gracious in his thanks to Sagicor and used the opportunity to ask other partners to come forward. He said, Our overarching goal at AntiguaRecon is to ensure that we train our youth so they can access and then create opportunities for others. We promote a pay it forward philosophy of helping each other. Our decision to train our youth in this area of information technology arose from the results of our research which demonstrated the intense growth expected in cybersecurity over the next few years. While AntiguaRecon is new, we are working to ensure that we create options in IT for young Antiguans and Barbudans for years to come. We are extremely thankful to Sagicor for this meaningful show of support.

AntiguaRecon is an organisation which trains in the areas of cybersecurity and agile project management. Its partner, Island Academy, hosts AntiguaRecon training sessions, and helped launch AntiguaRecon in January 2022.

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Sagicor supports cybersecurity education with donation to ... - Loop News Caribbean

The future of the Pirates of the Caribbean franchise is up in the air, and some things may surprise you.

The Pirates of the Caribbean movie franchise is a beloved and iconic series of swashbuckling adventures that have captivated audiences around the world. The franchise is based on the Disneyland Resort and Walt Disney World Resort attraction of the same name and has spawned five films to date, as well as numerous spin-offs, books, and merchandise.

The first film in the series, Pirates of the Caribbean: The Curse of the Black Pearl, was released in 2003 and was an unexpected success, grossing over $654 million worldwide and receiving critical acclaim. The film starred Johnny Depp as the eccentric Captain Jack Sparrow, alongside Orlando Bloom as Will Turner and Keira Knightley as Elizabeth Swann.

The success of the first film led to a series of sequels, including Pirates of the Caribbean: Dead Mans Chest (2006), Pirates of the Caribbean: At Worlds End (2007), Pirates of the Caribbean: On Stranger Tides (2011), and Pirates of the Caribbean: Dead Men Tell No Tales (2017). While the later films were less critically acclaimed than the first, they still proved popular with audiences and grossed over $4.5 billion combined.

While there have been plans for a sixth film to be made in the franchise, one of the biggest issues is the dispute happening between Disney and Johnny Depp (Captain Jack Sparrow). Many fans have hoped that Depp might return, but his battle with ex-wife Amber Heard has left many wondering if a reunion between Depp and Hollywood could ever be possible. Now, it seems theres a movement to bring Depps ex-wife in to play a lead role in the franchise that her ex-husband made so popular.

The legal battle between Amber Heard and Johnny Depp has been ongoing since their divorce in 2016, with various lawsuits and countersuits filed by both parties.

Depp claims that Heards allegations of domestic violence were false and that they caused him to lose job opportunities in Hollywood. Heard denies the allegations and has accused Depp of abusive behavior towards her during their relationship. The two met in a defamation trial last spring, and the result saw Depp come out a winner. He was originally awarded more than $10.35 million in damages, and Amber Heard vowed to appeal the decision.

In the end, the two settled outside of court, with Depp receiving $1 million from his ex-wife in December.

Before the U.S. defamation trial, Johnny Depp had lost a previous defamation lawsuit in the UK against a British tabloid newspaper, The Sun, which had referred to him as a wife-beater in an article about his relationship with Amber Heard. The case centered around allegations of domestic violence made by Amber Heard against Johnny Depp during their marriage. The High Court in London ruled that the newspaper had been justified in using the term wife-beater to describe Depp, based on evidence presented in court. The judge found that Depp had assaulted Heard on multiple occasions and that the allegations were substantially true.

As the legal proceedings have essentially been completed, the two parties are moving on with their lives. However, it seems that one is still welcomed in Hollywood and the other at least for the time being has been blacklisted by studios.

While wed love to see Johnny Depp return as Captain Jack Sparrow, the odds are overwhelmingly favorable in the other direction.

In addition to the issues that many Hollywood studios have expressed in reportedly blacklisting Johnny Depp in relation to the claims that were brought forth by Amber Heard, Disney and Depp have had their own issues stemming before the couple even officially divorced.

Inside the Magic previously covered that Disney had many troubles working with Johnny Depp, especially in the last couple of installments of the Pirates of the Caribbean franchise. Johnny Depp reportedly came to work drunk on one occasion and court documents indicated that Disney actually had to use one of their assistants to camp outside of Depps home while filming Pirates of the Caribbean: Dead Men Tell No Tales. The assistants job was to watch the house and let the studio and workers on set know when it looked like Depp was getting ready.

Johnny Depp has had his fair share of issues with Disney, as well. The company turned its back on the actor far before legal proceedings had ever been conducted, and Depp even shared in the defamation trail last summer that he wouldnt return to Disney for $300 million.

While many insiders have claimed that the two parties have had negotiations, nothing has been confirmed. Johnny Depp moved out of Hollywood and is currently focusing on his career in Europe, with a new movie set to be released soon. Some still believe he could make a return to Disney at some point in the future, but for now, many believe Depps most likely return project in Hollywood will be with Warner Bros., potentially joining his longtime friend Tim Burton in Beetlejuice 2.

A report from We Got This Covered indicated that Amber Heard had discussions with Margot Robbie in the past about joining her in Pirates of the Caribbean, and it pegged the actress as a possible replacement for her ex-husband.

The 34-year-old has spoken to Margot Robbie about a potential role in the upcoming spin-off thats said to have an abundance of girl power, they reported. Its unclear if the actress has had talks with the studio just yet about it, or if shes only discussed it with theBirds of Preystar at this stage.

The report indicated that if Warner Bros. is willing to have Amber Heard as a major star in one of its franchises, why wouldnt Disney be willing to do the same? Of course, the movie that the report is talking about is Aquaman and the Lost Kingdom (2023), which is set to be released later this year.

In the eyes of the law, Amber is technically the victim here and if WB [Warner Bros.] is willing to have her headline a major blockbuster, whats to say that Disney wont do the same?

Of course, as things have seemingly simmered down and Aquaman 2 is closer to its release date, this report has resurfaced and has many wondering if Disney could be waiting to make a decision about the future of its $4.5 billion franchise.

Pirates of the Caribbean Executive Jerry Bruckheimer confirmed that the Margot Robbie-led film was likely being put on the back burner for the time being, but he did indicate that Disney still plans to make it in the future.

I think that that script will come forward at a certain point, Bruckheimer said. We developed two different stories for Pirates and the other ones going forward first, so thats what were working on, to try to get that one made.

So, while the idea of Amber Heard replacing Johnny Depp will not happen in the near future, its something that has been discussed and likely will continue to be discussed. Though many fans would go absolutely crazy if this were to happen, you have to remember that Heard is still in the good graces of Hollywood studios, and Depp is on the outside looking in. If the belief is that she can bring in a number and there certainly would be plenty of conversation theres a chance that Disney would do it.

This is especially true considering that Disney is likely to move forward with another script first and come back to the all-female-led cast following the sixth installment of the franchise. Of course, this has yet to be confirmed.

One of the biggest names surrounding replacements for Johnny Depp (Captain Jack Sparrow) in the Pirates of the Caribbean franchise has been none other than Dwayne Johnson.

Dwayne The Rock Johnson has starred in a couple of Disney blockbusters in the last few years, voicing the character Maui in Moana (2016) and playing Skipper Frank Wolff in Jungle Cruise (2021). Just recently, Johnson announced that he would be starring in a live-action version of Moana. While the movies announcement was met with some backlash, filming is set to begin in October, but an official release date has not been confirmed as of yet.

With Johnson working on so many Disney projects, it should make sense that the actor has essentially moved on from contention for a role in Pirates of the Caribbean. It hasnt been announced if Johnson elected to make this decision on his own or if Disney decided to go in a different direction.

Many believe that an actor of Dwayne Johnsons caliber could bring notoriety to a Pirates of the Caribbean installment without Captain Jack Sparrow, but Johnson also likely wont want to deal with the backlash that might come from trying to fill the shoes of Johnny Depp and his avid fanbase.

Of course, Disney could always elect to go in the direction of using the script starring Margot Robbie and bringing in Amber Heard to play a role in the franchise, but the most likely replacement is a little closer to Depp.

If Disney does decide to move forward with Pirates of the Caribbean 6 with Johnny Depp, the most likely option is to pay for Orlando Bloom (Will Turner) and Keira Knightley (Elizabeth Swann Turner) to return to the franchise and go on an adventure starring their family.If you saw the end of Pirates of the Caribbean: Dead Men Tell No Tales, you already know that there is a teaser for this kind of script, but we wont spoil it for you.

A spinoff detailing the life of the Turner family could certainly be interesting and might appease many fans who have already stated they wont see a Pirates of the Caribbean film without Johnny Depp. Honestly, there will still be plenty of backlashes, but this at least might make a little more sense than going in any other direction or trying to introduce new characters in the series with Captain Jack Sparrow making an appearance.

This would also open the door for a Johnny Depp return in the future if the two sides were able to work out their differences, but if not, wed at least get to see characters who weve become familiar with.

All this being said, the direction that most fans would rather Disney go is to not make another movie at all if its not going to involve Johnny Depp. While a movie with Amber Heard and Margot Robbie might be a major discussion point, its not likely to be a major box-office attraction. A movie with Orlando Bloom and Keira Knightley or a younger cast, for that matter is not going to bring in the money that a movie with Johnny Depp would bring in.

For now, however, everything remains up in the air.

How would you feel if Disney gave Amber Heard a role in Pirates of the Caribbean? Let Inside the Magic know in the comments!

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Amber Heard Pegged to Replace Johnny Depp In 'Pirates of the ... - Inside the Magic

EMS:Absolutely. So Marc, to kick off the conversation, tell us a little about the firm and how you got to where you are today.MF:Sure. Exagon Impact Capital is an emerging manager focused exclusively on sustainable investment in Latin America and Caribbean. This is a space and region that I've been focused on for over 20 years. I started directly out of business school joining a firm that was known as Scudder Latin American Power Funds, which was the first private equity funds focused on Latin America and the Caribbean, and within that specifically on power generation.

And over the years, over 16 years at Conduit, we invested in both conventional and we were pioneering investors in renewable energy. And eventually I joined Barings. And from Barings, two years ago I left to execute on the opportunities for renewable energy and sustainable infrastructure in Latin America and the Caribbean.EMS:Great. So Marc, that is a nice segue into the first question I have for you. Love to hear your outlook for your investment strategy.MF:Sure. So ESG and sustainable investing in Latin America is really a significant opportunity. I think there's a perception around the world that the emerging markets are far, far behind in addressing ESG and sustainable infrastructure.

Arguably, there's more of an importance for a focus on the region because years ago it was behind, but many people that visit the region and interact with counterparties and projects quickly realize that it's much more advanced than they had been expecting.

Additionally, there's a perception that there's a sacrifice on return for a focus on responsible ESG and sustainable investing. And there's plenty of empirical evidence at this point, research that's been done by big bulge firms that show that skilled investors that are focused on this space, and specifically on the middle market we see enormous opportunity, returns, again, to the skillful investor, premiums that far exceed the risk that you're taking for participating in the emerging markets.EMS:Great. And Marc, more specifically, what are some of the greatest opportunities you see in this space and why?MF:So years ago, back in 1998 when I started, there was a lot of investment in conventional energy. It was a lot of fossil fuel, fire generation, for example. But that was really what these economies and these markets required. They were a bit behind. They needed capacity. Many of the countries in the region didn't have the renewable resources, they just needed energy. And the cheapest way to create that energy was using fossil fuels.

As technology evolved, costs came down and it became more commercially and financially achievable to hit the returns required by investors. So today, renewable energy in the region is absolutely an attractive space. And within renewable energy and within Latin America, we believe that the middle market offers the greatest opportunity.

Historically, what we used to do is we and other players could sit back and, for example, get a long-term contract to sell energy to either government or a commercial or industrial offtaker, 15 or a 20-year contract for let's say a 30 megawatt solar project. You would build the project, you would maintain and operate it, you would harvest the dividends, and at some future date you would sell to a bigger player or a strategic, for example.

Today, we're seeing a lot more opportunity in distributed energy, which means rooftop energy to, in our case, we focus on commercial and industrial, so larger users for large industrial manufacturing facilities, department stores, grocery stores. And what that means for us and for investors is a lot more work. You really have to roll up your sleeves a lot more to really get these smaller individual projects going, and then the idea is to roll them up into a critical mass where it's more attractive for a future offtaker.

So we believe that distributed energy globally is a great opportunity. And as you see not only in emerging markets where the quality and reliability of energy is important, we're seeing that in the developed markets as well. You can see Texas over the last few years had big issues and other places in the world where if you have distributed energy there's a lot more reliability if you do it in the right way.EMS:Great, Marc. And on the other hand, what are some of the greatest challenges you face and why?MF:I believe that the challenges that we are dealing with really have to do with the region. If you build a solar power plant, for example, or a wind project or a smaller run-of-the-river hydroelectric project, well, we're only investing in proven technologies. It's important to add. It's the same technical asset, the same solar power plant. Whether it's in New York or it's in Mexico, or it's somewhere in Asia or Africa, it's the same.

The challenge is in the emerging markets. There's a perception that when you're entering some of these markets, that there's this enormous risk. And our approach is with the skillsets we've developed over the years is our job is to mitigate risks. So our challenge is to come up with, at the end of the day, a project that has a similar risk profile is something that you might find in a developed world in Europe or the states, but yet sits in the emerging markets where you can achieve a premium for a return. So that premium could be 800 basis points for a solar project. The same physical asset with a long-term contract, proven technology that just happens to sit in the emerging markets.

And while there's plenty of conversation today, plenty of press about interest in ESG investing, sustainable investing, the reality is when you get down to it and you talk face to face with investors, most of the allocators are compensated for returns. And if they start out with this perception for real risk and also misperception for risk, it is very challenging to raise capital to really execute on the most attractive segment of the market in emerging regions.EMS:So Marc, to shift gears a bit, DEI has obviously been top of mind for the alternative investment community, so I wanted to see how your firm is addressing this timely and important topic.MF:Yeah, sure. So as I've mentioned several times, I've started a long time ago in the business and our founding investors at the initial fund I was at were the IFC and CAF. The IFC have the World Bank, and CAF, which is a multilateral from Latin America. And as you can imagine, ESG, sustainability, DEI were at top of the conversation before it became so fashionable to talk about. So in our practice, it was always part of our investment philosophy. So that includes participation with different parts of the local populations that previously had not participated, in companies, in management, different types of community projects and work.

Specifically, what we're doing today, and one of my partners, Claudia Arango, has come out of working in the region in private equity and infrastructure for over 20 years. And we first started this, we were sitting having conversations and she said, "Over 20 years, I can't tell you how many times and how many investments I was the only woman in the room, especially for infrastructure." It was very difficult for her to find other counterparties and other colleagues that were female.

So she made it a point and we agreed that for diversity, an important reason and part of our conversation is why is this? And part of it is it was hard to find senior women, women in senior positions because they never had the opportunity to start as analysts because they weren't attracted to it, there wasn't the opportunities.

So we've made a commitment on our fund level. So there's two levels. There's the fund level and then there's a portfolio asset level. So on the fund level, our intention is as we grow our business, we hire analysts, we're looking specifically for female, women that have the skillsets in order to grow and to promote the diversity. Additionally, we are, I'm probably not the most diverse face that you'll see or here, but within our partnership, we have representation for both women and minorities as part of the partnership. We intend to include that as our business grows. And we also include that with our portfolio investments in the region.

Again, typically over the years, I would show up in Latin America and you didn't see a lot of diversity in terms of certain segments. Indigenous populations that we were participating in the communities, they weren't representative of the partners that we had. And were making it a big objective to hire representatives from these communities, of course, that are qualified, to promote this diversity within our investments.EMS:Great. Marc, we've covered a lot of great ground today and wanted to see if you have any final thoughts you'd like to share with us.MF:Overall, I appreciate the interest in this conversation you have and anyone out there listening. I think it's a really important topic. It's one that's generated a lot of press. There's a lot of interest. I think overall in the investment community, there's a lot of work and energy being put in to figure out how to do it right. And we're not perfect. It's an evolution. I think we're really on the right road. We're working with a lot of multilaterals that have been putting a lot of energy into it, specifically for the region. So there's a lot of great expectation for continuing to grow in the marketplace.EMS:Well, Marc, I wanted to thank you so much for joining me.MF:Thank you. It's been a pleasure.EMS:And thank you for listening to the EisnerAmper Podcast Series. Visit eisneramper.com for more information on this and a host of other topics. And join us for our next EisnerAmper podcast when we get down to business.

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ESG Global Infrastructure Investing in Latin America and the ... - EisnerAmper

The Caribbeans premier film festival is back once again on the French Caribbean island of St Barth.

The 26th edition of the St Barth Film Festival runs this week from May 3-6 in Gustavia.

Since 1996, the event has become a crossroads for Caribbean films and filmmakers, putting the regions cinematic excellence on display on its most glamorous island.

This years event includes films from Martinique, French Guiana, France, Guadeloupe and the United States.

That includes JAZZ FEST: A New Orleans Story, directed by Frank Marshall and featuring frequent St Barth visitor Jimmy Buffett.

Most of the films are presented by a director (or. in one case, by leading actor Ricky Tribord).

The evening films will be screened in Lorient at AJOE, with its high-tech digital projection system.

By day, films are presented at Theatre du Paradis in the heart of Gustavia.

Join us on a journey through the Caribbean via its culture and music, the event said in a statement.

You can find the full schedule below:

Wednesday, May 3, 8pm, AJOE

Opening night

Le lien qui nous unit

by Plagie Serge Poyotte

presented by lead actor Ricky Tribord

(French Guiana, 2020, French/Creole,1h 49 min)

Thursday, May 4, 10am, Thtre du Paradis

Ti Emile Milo pk m

by Fabienne Kanor

presented by producer Barcha Bauer

(Martinique, 2008, music documentary, 54 minutes)

Thursday, May 4, 8pm, AJOE

International music night

Rd

by FabienneOrain Chomaud

Presented by director Fabienne Orain Chomaud

(France, 2023, French, 26 min)

Ahi Na Ma Lindigo Cuba

by Laurent Benhamou & Valentin Langlois

presented by director Laurent Benhamou

(France, 2018, music documentary, French/Creole/Spanish, 53 minutes)

Vendredi 5 mai, 10h, Thtre du Paradis

Two documentaries by Emile Romney about kaz kreol.

presented by director/architect Emile Romney

Sonj s kaz la..on driv av Pascal Foy

(Dont Forget The Kaz..a drive with Pascal Foy)

(Guadeloupe, 2021, French, 1555)

KAZ..on lspwi pou dmen

(KAZ an inspiration for tomorrow)

(Guadeloupe, 2021, French, 1959)

Friday, May 5, 8pm, AJOE

Sauce chien party

Lme du couteau-chien

by Barcha Bauer

presented by director Barcha Bauer

(France,2023, documentary, French, 52 minutes)

Saturday, May 6, 2:30pm, Thtre du Paradis

George Tarer, un sicle aimer

by Steve James

presented by director Steve James & writer Stephanie James

(Guadeloupe, 2019, French, 60 minutes)

Saturday, May 6, 8pm, AJOE

Closing night

Jazz Fest: A New Orleans Story

by Frank Marshall, Ryan Suffern

(USA, 2022, music documentary, English, 1h 35 min)

Excerpt from:

The Caribbean's Premier Film Festival Is Back in St Barth - Caribbean Journal

Key Insights

Today we will run through one way of estimating the intrinsic value of Royal Caribbean Cruises Ltd. (NYSE:RCL) by estimating the company's future cash flows and discounting them to their present value. This will be done using the Discounted Cash Flow (DCF) model. It may sound complicated, but actually it is quite simple!

We would caution that there are many ways of valuing a company and, like the DCF, each technique has advantages and disadvantages in certain scenarios. If you want to learn more about discounted cash flow, the rationale behind this calculation can be read in detail in the Simply Wall St analysis model.

See our latest analysis for Royal Caribbean Cruises

We use what is known as a 2-stage model, which simply means we have two different periods of growth rates for the company's cash flows. Generally the first stage is higher growth, and the second stage is a lower growth phase. In the first stage we need to estimate the cash flows to the business over the next ten years. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years.

A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, so we need to discount the sum of these future cash flows to arrive at a present value estimate:

("Est" = FCF growth rate estimated by Simply Wall St)Present Value of 10-year Cash Flow (PVCF) = US$12b

After calculating the present value of future cash flows in the initial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage. For a number of reasons a very conservative growth rate is used that cannot exceed that of a country's GDP growth. In this case we have used the 5-year average of the 10-year government bond yield (2.1%) to estimate future growth. In the same way as with the 10-year 'growth' period, we discount future cash flows to today's value, using a cost of equity of 12%.

Terminal Value (TV)= FCF2032 (1 + g) (r g) = US$4.7b (1 + 2.1%) (12% 2.1%) = US$51b

Present Value of Terminal Value (PVTV)= TV / (1 + r)10= US$51b ( 1 + 12%)10= US$17b

The total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is US$29b. The last step is to then divide the equity value by the number of shares outstanding. Relative to the current share price of US$75.6, the company appears quite good value at a 33% discount to where the stock price trades currently. The assumptions in any calculation have a big impact on the valuation, so it is better to view this as a rough estimate, not precise down to the last cent.

Now the most important inputs to a discounted cash flow are the discount rate, and of course, the actual cash flows. If you don't agree with these result, have a go at the calculation yourself and play with the assumptions. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at Royal Caribbean Cruises as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 12%, which is based on a levered beta of 1.596. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business.

Whilst important, the DCF calculation shouldn't be the only metric you look at when researching a company. It's not possible to obtain a foolproof valuation with a DCF model. Instead the best use for a DCF model is to test certain assumptions and theories to see if they would lead to the company being undervalued or overvalued. If a company grows at a different rate, or if its cost of equity or risk free rate changes sharply, the output can look very different. Why is the intrinsic value higher than the current share price? For Royal Caribbean Cruises, we've compiled three relevant factors you should explore:

PS. The Simply Wall St app conducts a discounted cash flow valuation for every stock on the NYSE every day. If you want to find the calculation for other stocks just search here.

Find out whether Royal Caribbean Cruises is potentially over or undervalued by checking out our comprehensive analysis, which includes fair value estimates, risks and warnings, dividends, insider transactions and financial health.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Here is the original post:

An Intrinsic Calculation For Royal Caribbean Cruises Ltd. (NYSE:RCL) Suggests It's 33% Undervalued - Simply Wall St

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That brings us to the latest Small Caribbean Hotel of the Week: a luxury boutique hotel that just so happens to be the best hotel on the island period.

This is the Baoase Luxury Resort, a 23-room beachfront boutique that has long been one of our favorite hotels anywhere in the Caribbean.

Where is it? The Baoase is just over 20 minutes from the airport in a very convenient setting that makes it easy to get to the wonders of nearby Mambo Beach and Jan Thiel Beach but is also a short trip from Willemstad (about 10 minutes).

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What do we like best? Yes, the rooms are some of the best youll find anywhere in the Caribbean. But what most impresses here is the food and beverage program: Chef Rene Klops Baoase Culinary Beach Restaurant is one of the regions great destination eateries (make sure you get the tableside steak tartare), with Michelin-level food in a prime toes-in-the-sand setting. The cocktails and spirits are diverse and thoughtful, making this a culinary destination in its own right. But isnt that what a luxury resort should be about anyway?

For more, visit the Baoase Luxury Resort.

Originally posted here:

Small Caribbean Hotel of the Week: Curacao's Top Luxury Retreat - Caribbean Journal