KINGSTON, Jamaica—Motorists across Jamaica are bracing for a notable surge in fuel prices, effective Thursday, November 20, as announced by Petrojam, the nation’s sole oil refinery. The latest ex-refinery costs indicate a uniform increase across various fuel types, signaling a financial burden for consumers and businesses alike.
分类： business
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Proman welcomes removal of US tariffs
Proman, Trinidad and Tobago’s (TT) sole producer of Urea Ammonium Nitrate (UAN) and the second-largest exporter of UAN to the United States (US), has welcomed the US government’s decision to eliminate tariffs on fertiliser exports. This move is expected to strengthen TT’s position as a reliable global supplier in the fertiliser and energy sectors. Managing Director Anand Ragbir highlighted the significance of this development, stating that it ensures price stability for farmers and safeguards critical export revenues for TT. Proman, a major tenant and employer at the Point Lisas Industrial Estate, is one of the top ten fertiliser producers globally, supplying UAN to farmers worldwide to enhance crop yields. The US remains TT’s largest trading partner and Proman’s primary export market for UAN. The tariffs, initially imposed by former US President Donald Trump in April, subjected several TT exports to a 15% duty, excluding energy products. However, following negotiations and adjustments, Trump expanded the list of exempted goods on November 14, including agricultural products and fertilisers. This decision reflects progress in trade talks, domestic demand, and production capacity. The exemption list now includes coffee, tea, tropical fruits, cocoa, spices, bananas, oranges, tomatoes, beef, and additional fertilisers. Reuters reported that this tariff rollback impacts over 200 food products, with recent US consumer price index data showing significant price increases for items like ground beef and steaks, despite claims of minimal inflation.
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JBG weighs exit from US meat business after $46-b fraud
Jamaica Broilers Group (JBG) is contemplating a strategic exit from its beleaguered US meat business following a significant fraud scandal that has shaken the company. The decision comes as JBG implements a sweeping overhaul to restore financial stability and operational efficiency. The fraud, which spanned nearly four years, involved the deliberate underreporting of costs to artificially inflate profits, leading to $46 billion in balance sheet adjustments and the erasure of shareholder equity. The scheme was uncovered after a whistleblower alerted management, prompting immediate action.
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JFP trims losses in Q3
JFP Limited, a leading commercial contract furniture and interior solutions manufacturer, is poised to make a pivotal decision regarding the allocation of multimillion-dollar proceeds from its recent property sale. CEO Metry Seaga emphasized that this decision will be instrumental in shaping the company’s strategic reset and bolstering its anticipated improved performance by 2026. Speaking to the Jamaica Observer, Seaga remained tight-lipped about specifics, stating, ‘We are on the right track, and I’m confident next year will be better — but I want to do more and say less.’
The decision comes on the heels of JFP’s improved financial performance in the third quarter of 2025. The company reported a narrowed net loss of $44.1 million, a significant improvement from the $75.4 million loss in the same period last year. This turnaround was driven by stringent cost controls and a one-time boost from the sale of land adjacent to its Spanish Town Road property. The sale significantly enhanced shareholders’ equity, which surged from $67.6 million to $329.9 million, while investments skyrocketed to $255.4 million from $7.6 million a year earlier.
Despite these gains, JFP continues to face challenges. Year-to-date revenue remains 23% lower at $257.8 million, attributed to sluggish project volumes and delayed contract executions. Total expenses for the nine-month period rose by 6%, primarily due to advisory and restructuring costs, resulting in a net loss of $56.7 million, down from $65.8 million in 2024.
In recent months, JFP has been collaborating with external consultants to reassess its business model and chart a path back to profitability. These efforts have already yielded operational improvements, including the introduction of new equipment aimed at enhancing production quality and reducing waste. Additionally, the company has embraced digital tools to streamline efficiency.
Originally established as Jamaica Fibreglass Products, JFP specializes in supplying seating, cabinetry, fitted furniture, and full-interior packages to hotel chains and restaurant operators across Jamaica and the Caribbean. As the company navigates its financial recovery, the upcoming board decision on the property sale proceeds will be critical in determining its future trajectory.
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Levy vows to pursue JBG’s fraud losses, takes ‘no option off the table’
Jamaica Broilers Group (JBG) is leaving no stone unturned in its quest to recover billions of dollars lost in a multi-year fraud at its US meat division. President and CEO Chris Levy has emphasized that all options, including potential legal action, are on the table to hold those responsible accountable. The company, now stabilized by a new management team and a pending $24-billion refinancing deal, is focused on repairing its balance sheet and seeking redress for the scandal, which forced $46 billion in adjustments. Levy acknowledged the complexity of the situation, stating, ‘No option is off the table,’ while highlighting tax opportunities as a concrete avenue for financial recovery. The company has quantified potential tax benefits and is working to restate its tax positions, though this will involve intricate negotiations with tax authorities. The fraud, described as a ‘coordinated and deliberate’ effort by former US operations leadership to hide costs and inflate profits, was uncovered by a whistleblower. Senior Vice President Ian Parsard revealed that the company is eyeing close to $30 billion in potential tax credits, with even a third of that amount significantly boosting shareholder equity. This recovery effort is crucial to rebuilding JBG’s shattered equity base, recently bolstered by a $40-billion revaluation of its Jamaican assets. Levy assured stakeholders that the internal investigation is complete, but the external mission to seek justice and financial recompense remains a top priority, signaling a potentially protracted next chapter in the JBG fraud saga.
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Why CEOs should never be first to speak after a data breach
On November 11, 2025, the Data Protection Commissioner delivered a keynote address at a workshop organized by the International Association of Business Communicators (IABC) Barbados Chapter. Her speech highlighted the persistent challenges faced by organizations in Barbados and the wider Caribbean in effectively communicating data breaches. She emphasized that delays in disclosure, incomplete information, and softened facts during critical moments are eroding public trust and exposing individuals to unnecessary risks.
The Commissioner identified a broader regional issue: poor breach communication, limited preparedness, and the urgent need for robust incident response frameworks. She noted that many organizations mistakenly believe data breaches only occur through cyberattacks, overlooking the misuse of personal information within their systems. For instance, financial institutions often repurpose customer data for unrelated purposes without consent, a practice that could lead to severe public backlash and regulatory scrutiny if exposed.
A significant gap in breach management, she argued, is the lack of structured crisis communication strategies. Too often, breaches are treated as technical or legal issues rather than public trust events. Executives, driven by personal accountability, tend to issue premature statements that downplay the situation, leading to avoidable reputational damage. The Commissioner stressed that trained communicators, not CEOs or IT heads, should lead public updates to ensure accuracy, professionalism, and consistency.
She called for organizations to adopt a disciplined approach to breach response, starting with a factual holding message that acknowledges the incident, confirms containment efforts, and commits to updates as verified information becomes available. This approach, she noted, is crucial for maintaining public trust.
To strengthen breach readiness, the Commissioner urged organizations to develop comprehensive response plans that outline immediate actions, internal notifications, and regulatory obligations. Clear internal coordination among IT, legal, compliance, HR, and communications teams is essential to avoid panic and inconsistent messaging. Additionally, organizations must prioritize supporting affected individuals by providing clear instructions, reassurance, and timely updates.
The Commissioner’s remarks serve as a wake-up call for Caribbean organizations to rethink their handling of personal information and their response to breaches. She challenged executives to answer three critical questions: Who speaks first during a breach? What is communicated in the first six hours? Who verifies facts before release? Organizations that fail to address these questions, she warned, are unprepared for the inevitable.
Ultimately, the Commissioner emphasized that a breach is not just a technical incident but a test of an organization’s maturity, preparedness, and respect for the trust placed in it. By prioritizing transparency, disciplined communication, and public interest, organizations can rebuild trust and demonstrate their commitment to protection over concealment.
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Company’s Interest in Shifting Cargo to Antigua Could Mark Major Turning Point for Port
Prime Minister Gaston Browne has revealed that a prominent shipping company is considering redirecting cargo traffic to Antigua and Barbuda, a development that could propel the nation toward its goal of becoming a premier transshipment hub in the Eastern Caribbean. Speaking on the *Browne and Browne* show, the Prime Minister attributed this interest to the government’s recent $16 million investment in a state-of-the-art crane at the Deepwater Harbour port. He emphasized that the company’s inquiry would not have occurred without this critical infrastructure upgrade.
The potential agreement is expected to dramatically increase cargo volumes, necessitating rapid expansion of the port’s capabilities. Browne outlined plans to install at least two additional cranes and expand the port’s operational footprint to accommodate the anticipated surge in shipping activity. To address space constraints, the government is considering cutting down Rat Island to create more land for storage, equipment, and cargo handling facilities.
Browne highlighted the strategic advantage of Antigua and Barbuda’s location, particularly in light of Guyana’s burgeoning trade ties with Brazil. This connection could facilitate the movement of goods northward, with Antigua serving as a key distribution point for the OECS and broader Caribbean markets. The Prime Minister also noted that this shift would stimulate growth in related industries, including ship maintenance, bunkering, and warehousing.
To maximize the economic benefits of increased port activity, the government is exploring measures such as corporatization and enhanced oversight to boost revenues and minimize inefficiencies. While the shipping company’s identity remains undisclosed, Browne expressed confidence that its interest reflects trust in the nation’s strategic direction and underscores the importance of sustained infrastructure investment.
If finalized, the deal could transform Antigua and Barbuda’s maritime economy, positioning the Deepwater Harbour as a pivotal logistics hub in the region for decades to come.
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PM Reports Record Customs Revenue of Close to 4 million dollars
Prime Minister Gaston Browne has announced a historic milestone for Antigua and Barbuda’s Customs Department, which recorded its highest single-day revenue collection last week. Speaking on the ‘Browne and Browne’ show, Browne revealed that Customs collected an unprecedented EC$3.7 million on Monday, a figure that underscores the success of recent administrative reforms aimed at enhancing oversight and reducing revenue leakages at the country’s primary port of entry.
Browne emphasized that this record-breaking achievement reflects the government’s efforts to strengthen revenue monitoring and optimize the port’s financial performance. He noted that the port had historically underperformed relative to its potential, but the recent surge in revenue indicates that the administration is now ‘getting value for money’ and addressing systemic inefficiencies.
The Prime Minister’s remarks coincided with discussions about planned upgrades to the port to accommodate increasing cargo volumes and attract international shipping firms. Browne highlighted the growing importance of the port’s revenue performance as Antigua and Barbuda seeks to capitalize on expanding regional transshipment activity.
During the program, Sir Molwyn Joseph, a key figure in the discussion, urged the government to adopt a more business-oriented approach to port management. He stressed the need for daily financial analysis and real-time anomaly detection to ensure predictable revenue outcomes. Joseph also called for enhanced port security, stricter cargo movement controls, and improved managerial oversight to maximize the port’s potential as a major revenue center for the nation.
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Antigua’s Curtain Bluff Takes Environmental Sustainability Honours at CHIEF 2025
The Caribbean Hotel and Tourism Association (CHTA) proudly announced the winners of the 2025 Caribbean Hotel Industry Exchange Forum (CHIEF) Awards during the event’s opening ceremony in Barbados, held from November 16 to 18. This prestigious program honors exceptional leadership, innovation, and best practices within the Caribbean hospitality sector. The awards spotlighted excellence across five categories: Environmental Sustainability, People Development and Support, Marketing Innovation, Social Responsibility, and Tech Transformation. This year’s winners and finalists represented 12 Caribbean destinations, showcasing the region’s diverse and impactful contributions to the industry.
Curtain Bluff in Antigua secured the Environmental Sustainability award for its holistic approach to sustainability, featuring advanced water systems, energy efficiency, waste reduction, and community engagement, supported by its Green Globe Platinum Certification. Half Moon in Jamaica was recognized for its People Development and Support initiatives, including wellness programs, learning platforms, and technology-enhanced training that uphold its Forbes-rated luxury standards. The Boardwalk’s “Slow Summer” campaign won the Marketing Innovation award for redefining the low season as a wellness-focused period of mindful travel, enhancing occupancy and community partnerships. The Rockhouse Foundation in Jamaica received the Social Responsibility award for its $11 million investment in rebuilding public schools and fostering inclusive education. Bolongo Bay Beach Resort in the USVI earned the Tech Transformation award for its shift to direct bookings through digital tools and guest-centric engagement.
CHTA President Sanovnik Destang emphasized the awards’ role in highlighting the creativity, innovation, and resilience of Caribbean hospitality. He noted the importance of sustainable and inclusive tourism, especially in the face of climate change challenges, such as those impacting Jamaica after Hurricane Melissa.
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Adoexpo: exports surpassed US$12 billion and grew 10.3% in 2025
The Dominican Republic has marked a significant milestone in its export sector, closing the first ten months of 2025 with over US$12 billion in exports and a robust 10.3% growth rate. These figures were unveiled by the Dominican Exporters Association (Adoexpo) during the 39th Export Excellence Awards, an event presided over by President Luis Abinader. The ceremony celebrated companies that have made remarkable contributions to international markets. Adoexpo President Karel Castillo highlighted the country’s strong performance, with exports to the United States exceeding US$6 billion and shipments to the Caribbean reaching US$1.7 billion, reflecting a 15% increase. Castillo emphasized the Dominican Republic’s growing influence in both traditional and emerging markets, including India, and called for sustained reforms in logistics, technical education, regulatory modernization, and labor flexibility to solidify the nation’s position as a regional export powerhouse. Roselyn Amaro Bergés, Adoexpo’s Executive Vice President, presented findings from the Export Sector Indicator Study, revealing that exports totaled US$13.8 billion in 2024, creating 144,000 jobs. The study also noted significant growth in key products such as gold (+52%), cocoa (+54%), and steel laminates (+87%), with exports accounting for 29% of all foreign currency entering the country in 2025. The awards ceremony honored outstanding companies across various categories, with Pasteurizadora Rica receiving the prestigious title of Great Dominican Exporter. Other awardees included Plastifar, BotPro, Successment, Ghidora (Blink Esports), Textilab x Angie Polanco, Aparataje Distribution, Grupo RR&T, B Brawn Dominican Republic, Smurfit Westrock, and Nahshar Produce. Special recognitions were also extended to sector veterans, public institutions, private companies, media outlets, and journalists for their contributions to the development of national exports.