What's the white circle with the red boundary? Is the point symbol (I ask because it looks like a graphical point placed on the map)? Do you have any other labels which it may be conflicting with? What label engine are you using and what settings are applied? Certainly looks like labels are conflicting and not being shown (though i'm unsure if the base layer has labels or it's a raster basemap or annotations etc.) Check the drawing priority on the label manager and try options such as 'never remove - place overlapping) and see what happens.
Without more information there are a whole load of possible reasons.
