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Spain says hantavirus ship evacuees need new plane to leave Canaries

An international public health emergency centered on a hantavirus outbreak aboard a Dutch cruise ship took an unexpected turn Wednesday, when a flight carrying evacuees from the vessel was forced to divert to Spain’s Canary Islands and later grounded by a critical technical fault, Spain’s national health ministry has confirmed.

The crisis began late last week, when three passengers aboard the MV Hondius, a cruise ship sailing off the coast of West Africa, died from what public health officials suspect is hantavirus—a rare rodent-borne pathogen that spreads through contact with infected animals’ urine, droppings, or saliva. The World Health Organization was alerted to the outbreak over the weekend, triggering a multi-nation effort to evacuate remaining passengers and crew.

Two flights carrying a total of three evacuees departed Cape Verde, where the ship had been anchored, en route to Amsterdam. One of the aircraft, which was originally scheduled to refuel in Morocco, was denied landing permission by Moroccan authorities, forcing it to divert to Gran Canaria Airport in the Canary Islands for refueling. During the unscheduled stop, the medical team onboard reported a failure in the electrical system that powers life support for a patient being evacuated.

Spanish health ministry officials confirmed the patient remains onboard the grounded aircraft, connected to external power from the airport while awaiting replacement aircraft to continue the journey to the Netherlands. Officials emphasized that the isolated patient poses no public health risk to people on the ground and will remain contained until the situation is resolved, though no timeline for a new flight has been released.

Regional authorities in the Canary Islands have taken a harder line, however, confirming that no passengers will be allowed to board or disembark the grounded plane. Regional officials say the patient’s isolation bubble, designed to prevent potential transmission of the virus, was compromised during the unscheduled stop.

Flight tracking data from Flightradar24 shows the plane was originally scheduled to make a second stopover in Malaga, southern Spain, before reaching its final destination in Amsterdam. The remaining evacuees from the MV Hondius face further uncertainty as well: Spanish Health Minister Monica Garcia confirmed the ship itself will dock in Tenerife, one of the Canary Islands, by Saturday to allow for mandatory medical screenings and coordinated passenger repatriation.

The decision to bring the ship to the archipelago has already sparked political tension, with Canary Islands regional authorities rejecting the plan and calling for all medical care and repatriation operations to be carried out from Cape Verde, where the ship was originally anchored.

5 5 月, 2026
Mace fallout intensifies

The political fallout from a chaotic mace confrontation during last week’s parliamentary sitting in Jamaica deepened dramatically on Tuesday, as House Speaker Juliet Holness publicly called out Opposition Member of Parliament Angela Brown Burke, revealing a pattern of defiance against the presiding officer’s authority that stretches back months. The high-profile clash, which unfolded during debate on the critical National Reconstruction and Resilience Authority (NaRRA) Bill, has thrown a spotlight on long-simmering divisions between the government and opposition inside Gordon House, Jamaica’s parliamentary building.

Opening Tuesday’s scheduled sitting of the House of Representatives, Holness opened with a lengthy, formal statement addressing the explosive scenes from the prior week, centering her remarks on defending the foundational role of parliamentary discipline and the authority of the institution itself. The Speaker confirmed that Brown Burke, who represents the St Andrew South Western constituency, had already disrupted legislative business during a tense sitting held on March 5 this year. Holness recalled that on that earlier occasion, Brown Burke left her seat and loudly declared, “Yuh waan mi fi behave like a virago? Mi a go behave like a virago.”

“This was not the first occasion on which conduct of this nature has tested the authority of the Chair by the same member,” Holness told assembled lawmakers. “Restraint was exercised in the hope that the matter would not be repeated. But restraint must never be mistaken for permission, patience must never be mistaken for weakness, and silence must never be mistaken for acceptance.”

The Tuesday remarks came days after Brown Burke was formally named and suspended from Parliament after grabbing the ceremonial mace — a centuries-old symbol of parliamentary authority — during heated committee-stage debate on the NaRRA Bill. The incident triggered chaotic scenes in the chamber that forced officials to temporarily suspend all proceedings.

But in an interview with the Jamaica Observer conducted hours after Holness’ Tuesday address, Brown Burke forcefully pushed back against the Speaker’s narrative, rejecting the framing of her actions as an unprovoked breach of protocol. She argued that the confrontation was the end result of months of growing frustration, rooted in what she describes as systemic efforts to sideline and silence opposition lawmakers during parliamentary debates.

“We haven’t made the case to the Jamaican people. We have sat quietly, we have protested inside of the House, we have spoken to the Speaker, we have spoken to others about the attitude in the House, which prevents individuals on the Opposition side from actually participating in the discussions and in the debate,” Brown Burke said.

The opposition MP alleged that parliamentary standing orders are enforced inconsistently across government and opposition members, with opposition lawmakers routinely blocked from accessing speaking time during key debates. “What someone on the Government side will get away with, we won’t,” she said, accusing the Speaker of overt partisan bias in how she presides over proceedings. She further claimed that the parliamentary microphone system has been “weaponized” against opposition members, who are often muted or blocked from having their remarks included in the official parliamentary record.

Brown Burke explained that tensions boiled over during last week’s NaRRA debate after she made three separate attempts to intervene in discussion, only to be intentionally ignored by the Speaker. “On three different occasions I wanted to make a statement to intervene in the discussion… The Speaker looked at me and just turned her head and looked to the other side,” she claimed.

While she openly acknowledged that grabbing the mace violated formal parliamentary rules, she maintained that her action was a deliberate act of protest against what she called consistent, ongoing disrespect toward opposition representatives. “And so I got up. And, as I put it, I interfaced with the mace. And we know what the standing order says. I’m not pretending that it is sanctioned by the standing orders. Not at all. But it was because of that pushing, that ignoring, that disrespectful behaviour of the Speaker, time and time again,” she said.

Brown Burke also pushed back against Holness’ recounting of the March 5 “virago” incident, saying her original remarks were misrepresented. “I said, ‘Do I have to behave like a virago for me to be heard?’ That was what I said, and I thought that was an appropriate question. Because I don’t believe that I should have to behave like a virago to be heard,” she told the Observer.

In her address to parliament, Holness emphasized that the dispute goes far beyond the conduct of a single lawmaker, framing it as a fundamental challenge to the institutional order and authority of Jamaica’s parliament. “The mace is not a decoration. It is not a prop. It is not an object to be used in protest. It is the symbol of the authority of this House,” the Speaker declared.

She also criticized broader opposition behavior after Brown Burke’s suspension, noting that the opposition leader and other opposition lawmakers staged a standing protest with chants in direct defiance of the Chair’s authority. Holness further revealed that she had previously overlooked “derogatory sotto voce references, slurs, and disrespectful posturing” from a small group of opposition lawmakers, choosing to allow legislative business to proceed rather than escalate conflict.

Despite the sharp escalation of tensions between the two sides, both Holness and Brown Burke have called for a broader reassessment of the tone and rules of engagement inside Jamaica’s parliament. “Order is not the enemy of democracy. Order is what makes democracy possible,” Holness told lawmakers.

For her part, Brown Burke said she hopes the high-profile controversy will force the institution to confront and address the systemic inequities that have stoked tension between government and opposition members. “Let’s draw a line. Let’s determine how we interface with each other. But let us stop the hypocrisy,” she said.

5 5 月, 2026
Venezuela insists ICJ does not have jurisdiction to hear border dispute with Guyana

THE HAGUE, Netherlands — In ongoing high-stakes oral arguments at the International Court of Justice (ICJ), Venezuela has reaffirmed its long-held stance that the United Nations’ highest court for state-to-state disputes lacks authority to rule on its centuries-old territorial conflict with neighboring Guyana. The dispute centers on the resource-rich Essequibo region, a 61,600-square-mile territory that makes up nearly two-thirds of modern Guyana, which Venezuela claims as its own sovereign land.

Speaking as Venezuela’s second representative to the ICJ, Professor Makane Moise Mbengue pushed back against Guyana’s core argument that the 1899 Arbitral Award — which originally set the disputed border between the two nations — is legally valid and binding. While Mbengue acknowledged that the 1899 award provides historical context for the conflict, he emphasized that it should not block a genuine negotiated resolution between the two South American nations. Both Mbengue and lead Venezuelan representative Samuel Moncada displayed pins showing Essequibo as part of Venezuelan territory during their presentations.

Moncada opened Venezuela’s arguments earlier this week by rejecting what he called Guyana’s “erroneous and misleading narrative” surrounding the dispute. He stressed that the 1966 Geneva Agreement, reached by both parties to settle the conflict after Venezuela declared the 1899 award null and void in 1962, remains the sole binding legal framework governing the issue. Unlike a court-imposed ruling — which inevitably leaves one side victorious at the other’s expense — Moncada noted the Geneva Agreement was crafted as a peace pact that prioritizes direct bilateral negotiation to reach a practical, mutually acceptable outcome. He added that the agreement is explicitly designed to help the two nations move past the harmful legacy of colonialism, which created the dispute in the first place.

Guyana first brought the case to the ICJ in 2018, asking the court to formally affirm the legal validity of the 1899 border award. The territorial dispute lay dormant for more than 60 years after the award was issued, until Venezuela revived its claim to Essequibo in 1962. Following the 1966 Geneva Agreement, which established formal mechanisms for peaceful negotiation, years of bilateral talks failed to produce a resolution, leading the United Nations Secretary-General to refer the dispute to the ICJ. The ICJ previously ruled that it has jurisdiction to hear the case, clearing the way for the current merits hearings, where both sides are presenting their full legal arguments.

During opening arguments that began Monday, Guyana maintained that the 1899 award permanently and definitively settled the border, and that it remains legally binding and entitled to international recognition. But Mbengue countered that the 1899 award is a discredited artifact of British imperialism, and that the ICJ’s earlier jurisdiction ruling did not validate Guyana’s underlying claim. He argued that the ICJ panel failed to account for Venezuela’s core legal position in its initial jurisdiction ruling, and that any lasting resolution must center on the terms of the 1966 Geneva Agreement, not the 1899 award.

“The real issue is the pursuit of a mutually satisfactory agreement to the controversy generated by the 1899 award, a solution that consign this artifact of British imperialism to the past where it belongs and to chart a way forward — this is the only proper meaning of the Geneva agreement,” Mbengue told the court, noting that Guyana has failed to offer any alternative interpretation of the pact that aligns with the parties’ original goals. He urged the ICJ to examine every provision of the Geneva Agreement, rather than limiting its review to Guyana’s narrow claims. “The court should not be constrained by the allegations that Guyana made,” Mbengue argued. “In particular, it must carefully ascertain whether Guyana’s request remains within the bounds of what the parties to the Geneva agreement sought to resolve. Guyana’s claims cannot exist within the framework established by the Geneva agreement, nor can the court decide on those matters as framed by Guyana.”

The first round of oral arguments is scheduled to run through three-hour sessions over multiple days, wrapping up next Monday.

5 5 月, 2026
WiPay launches new solution for ROOFS programme

Following the destructive path of Hurricane Melissa, Jamaica’s $10-billion Restoration of Owner or Occupant Family Shelters (ROOFS) program has marked a major leap forward in disaster recovery delivery with the launch of an artificial intelligence-driven management solution from regional fintech leader WiPay Group.

The ROOFS initiative, first rolled out in January 2024 to support thousands of households impacted by the storm, has long relied on WiPay’s robust digital infrastructure to power fund and resource tracking, delivered in partnership with the National Payments Company of Jamaica (NPCJ). Up until this upgrade, however, the program faced notable growing pains, particularly when distributing the $75,000 in discretionary recovery cash allocated to eligible households. Long wait times, overcrowded pickup locations, and duplicated scheduling left many recipients frustrated and slowed the pace of rebuilding.

To resolve these bottlenecks, WiPay has rolled out its upgraded GovPay2.0, an AI-first platform designed to overhaul the entire end-to-end recovery fund disbursement experience. Unlike the early iteration of the program, which focused only on getting funds to recipients, the new system manages every step of the process from scheduling to delivery. To date, the ROOFS program has already distributed more than $8.25 billion in support to affected households, with the vast majority of that allocated as construction materials available through more than 200 partner hardware stores across storm-impacted regions. Eligible households with moderate to severe damage can access between $125,000 and $425,000 in building supplies, accessed via a streamlined system of text notifications and scannable QR codes that eliminates fraud and speeds up pickup.

Kibwe McGann, Chief Marketing Officer of WiPay Group, explained the core value of the AI upgrade in an official press statement. “We’ve moved from simply distributing funds to managing the entire experience around it. When people no longer have to guess, wait for hours, or deal with overcrowding, the system starts to work the way it should,” he said. The new AI algorithm is built to eliminate scheduling errors, allocating time slots to recipients in a way that avoids overcapacity at any of the more than 100 authorized cash pickup locations across the island, in partnership with local financial services provider Lasco Financial Services Limited. For recipients who prefer not to travel to pickup points, the platform also enables direct, express deposits of cash allocations to personal bank accounts, cutting down on travel costs and the security risks associated with carrying large amounts of physical cash.

McGann noted that the new solution draws directly from WiPay’s experience delivering similar digital relief management during the COVID-19 pandemic, when the company supported large-scale government grant distribution across the region. “Between the cash appointment management solution and express direct-to-bank solutions, we expect to alleviate the current challenges and pain points,” he added.

Beyond resolving immediate delivery issues, McGann emphasized the long-term strategic value of digitizing disaster relief programs. The AI-powered system captures granular, real-time data on every step of the recovery process, from how much construction material is requested in specific regions to the pace of fund distribution. This data not only ensures that all funds are used for their intended recovery purposes, eliminating misallocation and fraud, but also provides the Jamaican government with actionable, data-driven insights to improve disaster preparedness for future extreme weather events.

“As Jamaica continues to address the challenges in western Jamaica, McGann pointed to the benefits of digitising targeted grant relief. Apart from being able to ensure that the funds are used for their intended purpose, he pointed to the data management aspect to support government insights into future events — this includes the quantity of materials demanded and in which specific parts of the country, after a storm. The system that we developed tracks all of that in detail to ensure that if something like this happens again, the Government is now able to take data-driven insights to better prepare the country for what is needed,” McGann said in closing.

5 5 月, 2026
PSG knock out Bayern to set up Champions League final with Arsenal

In a tense, rain-soaked semi-final second leg at Munich’s Allianz Arena on Wednesday, defending champions Paris Saint-Germain held firm to secure a 1-1 draw against Bayern Munich, booking their spot in the 2025 UEFA Champions League final against English Premier League leaders Arsenal with a narrow 6-5 aggregate victory across the two legs.

Luis Enrique’s squad carried a narrow 5-4 advantage into the second encounter from a thrilling first leg in Paris a week earlier, and they wasted no time extending their lead against the six-time European champions. Just three minutes after kickoff, Georgian winger Khvicha Kvaratskhelia cut a low pass back across the Bayern penalty area, finding Ousmane Dembele, who drilled a clinical strike into the top corner of the net to put PSG two goals up on aggregate.

Bayern, who last lifted the Champions League trophy when they defeated PSG in the 2020 Lisbon showpiece, struggled to create clear-cut chances for most of the match, leaving their attacking line largely toothless despite the home crowd’s roaring support. The German side grew increasingly frustrated with first-half refereeing calls, a controversy that added tension to an already high-stakes fixture but failed to shift the momentum of the game in their favor.

Bayern captain and goalkeeper Manuel Neuer kept his side in the tie with two outstanding saves in the second half, first denying Kvaratskhelia and then turning away a shot from substitute Desire Doue to prevent PSG from putting the result beyond doubt earlier. As the clock ticked into the fourth minute of stoppage time, England captain Harry Kane, who has enjoyed a breakout first season at Bayern, drilled home his 14th Champions League goal of the campaign to level the score on the night. But the late strike came too late to power a Bayern comeback, with the final whistle blowing just moments after kickoff resumed.

The result means PSG will advance to their second consecutive Champions League final, where they will face Arsenal on May 30 in Budapest. The Allianz Arena already holds special significance for the French giants: it was the site of their maiden Champions League title win over Inter Milan last season. If PSG can defeat Arsenal in Budapest, they will become only the second club to win back-to-back Champions League titles since 1990, joining Spanish giants Real Madrid in achieving that rare feat, and are currently installed as pre-tournament favorites heading into the showpiece fixture following their resilient defensive display against Bayern.

5 5 月, 2026
SUMMIT PROPERTY HEADS TO AUCTION

Nearly four years after Jamaica-based Novamed Properties Limited purchased the iconic former Knutsford Court Hotel in New Kingston with ambitious plans to redevelop it into an integrated health, business and innovation campus, the high-value central commercial property has been listed for public auction under mortgage default powers.

The upcoming auction, scheduled for 11:00 a.m. on Wednesday, June 3, 2026, covers the dual-parcel property located at 11 Ruthven Road and 16 Chelsea Avenue, Kingston 10, a prime spot in New Kingston’s corporate and commercial core, according to public auction notice reviewed by Jamaica Observer.

The listing marks a dramatic reversal of fortune for one of the district’s most recognizable commercial properties. When Novamed first acquired the site from prominent Jamaican hotelier Kevin Hendrickson, the total transaction, including acquisition costs, closing fees and projected renovation works, was valued at more than US$40 million. Official transfer documents filed with Jamaica’s National Land Agency, reviewed by Business Observer, show the property was formally transferred to Novamed in January 2023 for a base purchase price of US$23.5 million. Public title records also reflect a US$14.99 million vendor mortgage held by Knutsford Court Hotel Limited, the selling entity controlled by Hendrickson.

Industry insiders close to the transaction confirmed the entire purchase was structured as a vendor mortgage, a non-traditional financing arrangement where the seller acts as the lender rather than a commercial bank. Under this agreement, the seller allows the buyer to repay a portion of the purchase price over an agreed timeline, with the underlying property held as collateral for the loan. This structure leaves the seller, in this case Hendrickson through his selling entity, with a secured financial stake in the property even after full ownership is transferred to the buyer.

As of press time, neither party has issued a public statement on the upcoming auction. Novamed told Business Observer it requires additional time to prepare a comment and has not followed through on a commitment to speak with the outlet, while Hendrickson declined to comment, noting he would need to first consult with his legal team before making any statement.

The property itself is a substantial commercial asset that has already been partially converted from its original hotel use to a multi-block business centre. According to the auction listing, the site spans a total 3.84 acres (15,539.80 square metres) of prime land, with 102,225 square feet (9,496.93 square metres) of total built space across three main three-storey office blocks and a separate two-storey restaurant and lounge building. Currently, the 175 original air-conditioned hotel rooms have been repurposed for office use, alongside an existing restaurant and bar, 10,000 square feet of flexible meeting and banquet space, a courtyard, swimming pool, and 110 dedicated parking spots.

Located in the heart of New Kingston, the property offers prime frontage on Ruthven Road with rear access from Chelsea Avenue, placing it within walking distance of major arterial roads Holborn Road and Dominica Drive. It is also a short distance from key local amenities including foreign embassies, diplomatic high commissions, major financial institutions, shopping centres and government public institutions.

Novamed first announced its acquisition of the Knutsford Court Hotel in 2022 through Novamed Properties, a special-purpose vehicle created specifically to acquire and operate real estate assets focused on healthcare, wellness, lifestyle and commercial use. At the time, the firm laid out bold plans to rebrand the property as the Summit Campus, converting the four-acre site into a cutting-edge smart business and lifestyle village focused on innovation, technology, health and wellness. The new development was designed to complement Novamed’s recently acquired Medical Associates Hospital, forming a fully integrated health and commercial hub in central Kingston. For Hendrickson, the sale allowed him to redirect capital and focus to his ongoing redevelopment of the former Wyndham Hotel on Knutsford Boulevard, where he already owns two other prominent New Kingston hotels: the Courtleigh Hotel and Suites and the Jamaica Pegasus hotel.

Plans for the ambitious redevelopment hit a major regulatory snag earlier this year, however. Regulatory filings reviewed by Business Observer show that in April 2026, Jamaica’s National Environment and Planning Agency rejected two key applications from Novamed: one for an environmental permit and one for planning permission for the proposed construction of new office and commercial complexes, including a shopping centre larger than 5,000 square metres, as well as a formal change of use for the property from a resort designation to commercial office.

The agency cited two core reasons for the refusal: the proposed development failed to adequately plan for sufficient parking capacity to accommodate the new commercial use, and Novamed failed to meet minimum application requirements, including the submission of a required community survey and updated land use map for the environmental permit application. It remains unclear whether the rejected applications were part of a revised master plan for the site, or if the regulatory setback contributed to the circumstances that led to the property being listed for auction.

Photographs of the property taken in 2026 show the partially converted Summit campus, including the marked Chelsea Avenue entrance to the site.

5 5 月, 2026
UWI recognises excellence in teaching with distinguished award ceremony

KINGSTON, JAMAICA – In a ceremony celebrating the quiet backbone of higher learning across the Caribbean, the University of the West Indies (UWI) gathered last Thursday to fête 37 exceptional educators, an event organized by the institution’s Centre for Excellence in Teaching and Learning (CETL) in partnership with the Office of the Deputy Principal.

At the apex of this year’s honorees was Ethnie Miller Simpson, who claimed the prestigious UWI Distinguished Teaching Award for the 2023–2025 cycle, a recognition reserved for academics who demonstrate extraordinary commitment and innovation in the classroom. Accepting the honor with characteristic humility, Miller Simpson drew heavily on insights shared by keynote speaker Dr Rohan Jowallah, Senior Instructional Designer at the University of Central Florida, to frame her own reflections on modern education.

One core concept from Jowallah’s address struck a particular chord with the award recipient: “the productive struggle of learning.” Miller Simpson argued that this idea perfectly encapsulates the dual journey of students and educators alike. For learners, it describes the challenging but rewarding work of pushing through complex material to earn a degree, while for teachers, it demands constant adaptation of teaching strategies and course content to keep lessons relevant, engaging, and aligned with a rapidly shifting world.

Going beyond classroom practice, Miller Simpson outlined a forward-looking agenda for Caribbean education. She emphasized that educators must continuously refine their approaches to ensure that learning translates directly to solving real-world challenges, while keeping pace with shifts across Jamaica, the broader Caribbean region, and the global economy. Most notably, she drew attention to the urgent conversation around “Assessment, Equity and AI: Governance in Caribbean Education,” identifying the meaningful integration of artificial intelligence into teaching as one of the defining challenges for the sector from 2026 onward.

Miller Simpson stressed that education in the AI era must move far beyond the superficial “cut-and-paste” work that has become increasingly common with generative AI tools. For both students and instructors, she argued, the responsibility now is to foster creativity and practical, applied understanding that delivers value beyond exam scores, preparing learners to contribute meaningfully to workplaces and communities across the region. She also posed a provocative question for regional stakeholders: should the Caribbean prioritize building and retaining ownership of its own homegrown AI systems, rather than relying on foreign-developed tools, to shape the region’s educational and economic future?

The recognition of these 37 educators comes as the University of the West Indies retains its long-held reputation for academic excellence, holding a spot among the top 3.6 percent of universities worldwide.

5 5 月, 2026
Hambani lifts First Rock ahead of $700-m test

Jamaica-based real estate firm FIRST Rock Real Estate Investment Limited has announced a critical breakthrough at its flagship Hambani Estates luxury development, with cumulative sales now covering all outstanding project costs and enabling structured debt repayment – a positive development that comes as the company navigates a $700-million bond maturing this month and ongoing delays to its audited annual financial results.

According to Mayberry Investments Limited, the financial firm that structured the project’s post-receivership refinancing, seven of the development’s 12 planned luxury townhouses in Kingston 6, St Andrew, have achieved practical completion and are already under sales contract. Proceeds from these transactions, alongside pre-completion sales, are sufficient to cover every projected cost associated with delivering the full Hambani Estates project. This update was publicly released on April 30, the exact same day First Rock confirmed a second extension to the publication timeline for its 2025 audited financial statements. After missing an initial March 1 deadline, the company now targets release of the completed reports by May 15.

The Hambani Estates project, a 12-unit luxury townhouse development targeted at high-net-worth buyers and real estate investors in Liguanea, has endured a turbulent recent history. In early 2025, Sagicor Bank Jamaica placed the development into receivership after First Rock defaulted on project repayment obligations, triggered by widespread construction delays and weaker-than-projected initial sales. After the receivership appointment, Mayberry Investments stepped in to arrange a new corporate note refinancing package, a restructuring that has now positioned the project to begin phased early repayments to noteholders thanks to the stronger-than-expected sales performance.

First Rock was able to regain full control of the Hambani Estates development in September 2025, after paying off the outstanding Sagicor Bank facility using a new $15-million US dollar note that carries a 14% annual interest rate and is scheduled to mature in March 2027.

In a statement accompanying the project update, Mayberry Investments Chief Executive Officer Patrick Bataille noted that both the pace of construction progress and the strength of buyer demand at Hambani Estates have outperformed all post-restructuring projections. Mayberry also confirmed that unit values have risen sharply since the project launched: initial asking prices sat around $1.8 million per unit, and current pricing now sits at roughly $2.3 million. Additional price hikes are projected as more units reach completion and hit the market.

Public filings for First Rock covering the nine-month period ending September 2025 lay out the company’s current financial position. Total liabilities increased to $40.5 million US dollars, up from $31.5 million at the close of 2024, a jump that the company attributes to increased borrowing to complete the project debt refinancing. As of the end of September, the firm held $5.36 million in cash and cash equivalents. For the nine-month period, First Rock reported a net profit of $1.04 million, with a $31,000 net profit recorded in the third quarter alone.

5 5 月, 2026
How mentorship shaped Jamaican-Canadian scholar’s journey

Against the backdrop of a year defined by both professional triumph and personal grief, 31-year-old Kayonne Christy has emerged as one of the most promising rising sociologists in North America, recently inducted into Yale University’s elite Edward A. Bouchet Graduate Honor Society. Her path from a first-generation university student uncertain of her calling to an acclaimed doctoral researcher exploring diaspora, culture and identity has been shaped far more by collective support than individual achievement, she says.

Christy, currently a sociology PhD candidate at the University of Michigan, did not start her academic career aiming for the social sciences. As the first member of her family to pursue higher education, she enrolled in McMaster University’s life sciences program with plans to attend medical school. For a time, she dismissed her lingering dissatisfaction as a normal part of university life, telling herself that post-secondary study was not meant to be an enjoyable experience. But a persistent pull toward questions of systemic inequality and social justice, nurtured through campus organizing and community engagement, eventually led her to rethink her trajectory.

That turning point came when she gained a spot on a qualitative research project examining the social determinants of health. There, she discovered she could merge her foundational scientific training with her deep curiosity about how social structures shape individual lived experiences, sparking a lasting passion for sociology. Like every step of her journey, this professional shift was not navigated alone: Christy cites a network of supportive mentors as the backbone of every milestone she has reached.

Among the most influential of these guides was Juliet Daniel, a Barbadian-born cancer biologist at McMaster University and the first Caribbean woman with a PhD Christy ever met. Daniel passed away on the same day Christy sat for an interview about her career, adding a layer of poignancy to her reflections on her path. “Seeing someone who looked like me, who shared a similar background, made me believe that [a PhD] was possible. That mattered more than I can explain,” Christy said of Daniel. She also credits additional mentors including Dr. Lawrence Grierson, Dr. Meredith Vanstone, and Dr. Gerry Veenstra for opening doors and encouraging her through moments of uncertainty. “If it weren’t for them, I don’t know if I would be doing a PhD right now,” she added.

A suggestion from one mentor led Christy to a graduate program at the University of British Columbia, where she worked alongside Veenstra, one of Canada’s leading scholars on racial health disparities. There, she grew to appreciate sociology’s flexibility: the discipline allowed her to pursue overlapping interests in race, power, health and inequality while staying rooted in the social justice questions that first drew her away from medicine. That focus eventually led her to the University of Michigan, home to one of the world’s top-ranked sociology departments.

For Christy, her research is not just an academic pursuit—it is deeply personal. Though born in Canada, her connection to her Jamaican roots deepened in her early 20s, when a family reunion trip made her realize the island felt like home. Today, she is based in Kingston for her fieldwork, studying how Jamaican diaspora members contribute to the city’s growing cultural and creative economy, and how that engagement shapes urban development.

“Culture is such a central part of the Jamaican diasporic experience,” she explained. “As Kingston moves toward culture-led development, there are new opportunities for the diaspora to engage and contribute. But there are also challenges, and I want to understand both.”

Christy adheres to the philosophy of “lifting as you climb,” a value shaped by her own experience of receiving support from a community of mentors, family and educators. “Anything I’ve done is a product of people who poured into me,” she said. “Mentors, family, and community made this possible.” With her PhD on track for completion in 2027, Christy remains focused not just on finishing her dissertation, but on carrying forward the legacy of support that made her success possible.

5 5 月, 2026
Brokers hike commission rates on equity trades

Against a backdrop of strong profit growth across Jamaica’s securities brokerage sector, three top local investment firms have moved to raise equity trading commissions and adjust a range of service fees, passing higher operational and regulatory costs to retail and institutional investors.

The most recent adjustment comes from Barita Investments Limited (BIL), which notified clients of a new fee structure taking effect on June 1. The change covers not just equity trading commissions, but also cheque processing fees, outgoing real-time gross settlement (RTGS) transfer charges, and credit facility fees. Under the new rules, a flat 2% commission will apply to all local equity trades, with a minimum $550 charge for any transaction below $27,500. For trades exceeding $1 million, commission rates can be negotiated between 1% and 2%, a departure from BIL’s previous structure that charged just 0.75% for all transactions executed through JtraderPro, the Jamaica Stock Exchange’s (JSE) digital electronic trading portal.

In a client notification email, BIL explained the fee updates are designed to ensure its services align with current industry benchmarks, support its expanding suite of financial solutions, and accurately reflect the value the firm delivers to clients.

Months earlier, Jamaica Money Market Brokers Limited, operating as JMMB Investments, rolled out its own broad fee adjustments on April 17. While the firm cut the GOJ/BOJ bid placement fee from 0.146% to 0.10% (keeping the $5,175 minimum fee intact), it raised charges for RTGS transfers, cheque services, and return/recall transfers. For equity traders using JMMB’s digital Moneyline platform, the published commission rate rose from 0.50% to 0.70%, translating to an actual effective rate increase from 0.435% to 0.609%. Clients requiring assisted trades outside the digital platform saw their commission jump from 1.50% to 2.00%.

JMMB Securities Limited (JMMBSL), the group’s brokerage arm, earned second runner-up honors from the JSE Best Practice Committee in December 2025 for its 2024 revenue and market activity. JMMB Group’s 2025 annual report ranks JMMBSL first in total number of trades, second in trading volume, and sixth in trading value for 2024. The fee hike comes as the JSE’s Main Market and Junior Market posted $60.58 billion and $6.36 billion in total traded value respectively for 2025, creating an opportunity for brokers to boost top-line revenue through higher commission rates.

JMMB noted in its client communication that regular fee reviews are standard industry practice, conducted to balance the firm’s operational needs with client requirements. The latest adjustments, it said, align with the firm’s guiding principle of fair fee application, its core values, and its commitment to acting in clients’ best interests.

The third major adjustment came from VM Wealth Management Limited, which implemented changes effective March 1, mirroring Barita’s move to eliminate discounted digital trading rates. Previously, VM Wealth charged 0.75% for trades executed on JtraderPro, and 1.5% to 2.00% for in-branch assisted trades. Under the new structure, all equity transactions carry a 2.50% trading fee, with an additional $1,500 charge for transaction requests submitted outside VM Wealth’s digital client portal.

VM Wealth told clients the fee adjustments will allow the firm to continue investing in upgraded digital infrastructure, expanded service channels, and specialized client support teams. The firm emphasized its commitment to delivering efficient, secure, high-quality services to help clients meet their long-term financial goals.

For years, Jamaican brokers have offered discounted commission rates for digital self-service trades, which require less hands-on staff interaction than assisted transactions. This strategy was designed to incentivize more frequent online trading, ultimately driving higher total revenue through increased transaction volume. Today’s fee adjustments mark a clear strategic shift, driven in large part by brokers’ need to prepare for the upcoming “twin peaks” regulatory framework and other upcoming regulatory changes impacting parent financial groups.

The adjustments come at a time of robust overall performance for Jamaica’s securities sector. Unaudited data from the Financial Services Commission (FSC) shows total sector revenue grew 17% year-over-year to $87.77 billion for the 2025 calendar year ending December. The FSC attributes this revenue growth to expanded non-interest income, primarily driven by strong profits from debt securities trading. Total sector expenses fell 5% to $72.51 billion, pushing combined pre-tax profit (PBT) for the 19 reporting primary securities dealers to $15.26 billion.

The FSC noted that the double-digit jump in pre-tax profit stems from concurrent growth in operating revenue and a decline in operating costs. For comparison, the 2024 pre-tax profit figure was restated from an original $0.87 billion gain to a $1.54 billion pre-tax loss, though no explanation has been provided for the revision.

Despite the strong profit performance, the sector saw a 1% contraction in total assets to $973.43 billion, though total equity and capital improved 2% to $147.96 billion. The aggregate capital adequacy ratio for the 19 reporting firms rose from 20.41% to 22.49% — double the 10% statutory minimum required by regulators.

Total broker funds under management (FUM) grew 10% year-over-year to a record $1.83 trillion, with collective investment schemes (including unit trusts and mutual funds) rising 9% to $416.47 billion from $383.11 billion in 2024. While FUM is at an all-time high, year-over-year growth has slowed in recent years: FUM stood at $1.72 trillion in December 2022 and $1.59 trillion in December 2021, meaning growth has moderated even as total values hit new records. Equity holdings within managed funds are also growing at a slower pace than in previous periods.

The overall picture shows that even as Jamaica’s banking and securities sectors deliver rising earnings, consumers and investors are facing higher fees for a growing range of services — even as those services continue to shift to lower-cost digital delivery models.

5 5 月, 2026