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标签： Jamaica

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  • Jamaica Broilers secures full $24-b local refinancing

    Jamaica Broilers secures full $24-b local refinancing

    Jamaica Broilers Group has successfully concluded a comprehensive $24 billion (JMD) refinancing arrangement, a strategic move that fully addresses its local debt obligations and restructures its financial framework. The completed financing package, which surpasses the previously disclosed $15 billion figure, was finalized with a consortium of three major Jamaican financial institutions: National Commercial Bank (NCB) Group, CIBC Caribbean, and Bank of Nova Scotia Jamaica Limited.

    The necessity for this extensive refinancing emerged after the company encountered breaches on multiple loan covenants during the 2024/25 financial year. These breaches were primarily triggered by delays in finalizing audited accounts, which consequently prevented the company from obtaining essential year-end waivers from its lenders. Ian Parsard, Group Senior Vice-President for Finance and Corporate Planning, clarified the situation during the company’s recent Annual General Meeting, emphasizing that despite the covenant issues, all Jamaican lenders demonstrated significant cooperation throughout the process.

    This new financing structure represents a fundamental shift from the company’s previous debt management approach. It replaces a series of individual loan agreements with five different lenders with a unified inter-creditor agreement. This consolidated framework establishes a common set of covenants for all participating banks and, most critically, fully resets all past covenant breaches. Furthermore, the refinancing transitions the company’s borrowing from unsecured to secured facilities, backed by recently updated asset valuations.

    A pivotal outcome of this arrangement is the dramatic improvement in the company’s liquidity and debt maturity profile. The $24 billion facility has enabled Jamaica Broilers to reclassify this entire amount from short-term to long-term liabilities. This maneuver effectively resolves the previous imbalance where current liabilities significantly exceeded current assets. The package also facilitated the early retirement of bonds that were not scheduled to mature until 2027.

    The financing is priced at prevailing market rates. The NCB component, comprising a $6.4 billion loan and $8.7 billion in multi-tranche bonds, carries interest rates linked to the weighted average Treasury bill yield, currently translating to approximately 10%. The bonds specifically carry rates between 10.75% and 11%. CIBC Caribbean and Scotiabank largely maintained their existing rates, with CIBC applying a modest one-percentage-point adjustment.

    Parsard assured shareholders that the debt servicing costs, while substantial, are not an impediment to future dividend distributions. The company’s dividend policy, which targets payouts equivalent to 20% of after-tax profits, will continue to be guided by profitability rather than the size of the debt package.

    The refinancing was bolstered by a major asset revaluation conducted in the first half of the 2025/26 financial year. This revaluation, which focused on the group’s land and buildings, added over $50 billion to its asset values. This appreciation propelled stockholders’ equity to approximately $32 billion as of November 1, 2025, a remarkable recovery from a deficit position at the end of the prior fiscal year.

    While the Jamaican refinancing is complete, negotiations with the company’s US banking syndicate are still ongoing. Parsard noted that the total group debt is roughly evenly split between Jamaica and the United States, with the newly secured $24 billion JMD facility (approx. US$150 million) refinancing the Jamaican portion, while US debt stands at approximately US$120 million. He characterized the relationship with US lenders as “uncommonly very, very supportive,” despite the absence of a final written agreement.

    The company’s operational performance for the six months ending November 1, 2025, showed resilience with group revenue reaching $50.3 billion and a net profit of $1.2 billion, even after absorbing a $379 million net loss in the second quarter. The Jamaican operations were a strong contributor with a segment result of $3.6 billion, while the US segment continued to navigate significant cost and pricing pressures.

  • Decomposed body found in car in St Elizabeth

    Decomposed body found in car in St Elizabeth

    Authorities in St Elizabeth have launched a comprehensive investigation following the grim discovery of a severely decomposed male body inside a parked vehicle in Lacovia on Wednesday morning. The unsettling find was initially reported by local residents at approximately 10:00 am after they observed an unusual concentration of flies surrounding the automobile. Upon closer examination, the witnesses made the disturbing discovery of human remains within the vehicle and immediately alerted law enforcement officials. Police personnel promptly secured the area and conducted a thorough forensic processing of the scene as part of their standard investigative protocol. The remains have been subsequently transferred to a medical facility for official autopsy procedures. Law enforcement representatives have indicated that the autopsy results will be crucial in determining both the cause of death and the exact circumstances surrounding this incident. The identity of the deceased individual remains undisclosed pending formal identification procedures and notification of next of kin. Police investigators are currently pursuing multiple lines of inquiry while appealing to the public for any relevant information that might assist in reconstructing the events leading to this tragic discovery.

  • Johan Smythe, Shanoya Douglas smash national junior indoor records

    Johan Smythe, Shanoya Douglas smash national junior indoor records

    Jamaican teenage sprinters Johan-Ramaldo Smythe and Shanoya Douglas from Holland High School delivered extraordinary performances at the Puma New York International Showcase 2026 on Saturday, setting new national junior indoor records in their respective events.

    Smythe demonstrated exceptional speed in the 200-meter invitational, clocking an impressive 21.18 seconds to claim victory in his heat. Despite his remarkable time, he secured second place overall as American athlete Brady Pineo from Wesley Chapel High School edged ahead with a winning time of 21.02 seconds in the final standings. Smythe also showcased his versatility by dominating his 60-meter heat with a swift 6.91 seconds, though he faced disqualification in the final where Pineo again triumphed with 6.82 seconds.

    Douglas emerged victorious in the 300-meter event, establishing her new national record with a blistering time of 36.98 seconds. She finished well ahead of her closest competitor, Rhia Randolph of West Orange High School, who completed the race in 38.16 seconds. The victory carried additional significance as Douglas responded decisively to pre-race challenges from competitors.

    Coach Garth Smythe expressed immense pride in his athletes’ accomplishments, particularly given the travel challenges they faced. ‘We are grateful that the athletes got to compete at this elite level despite arriving in New York late morning without adequate rest due to jet lag,’ he stated. ‘Their performances truly spoke for themselves under these circumstances.’

    The coach revealed that Douglas’s victory contained an extra layer of satisfaction as she had received competitive threats during a press conference approximately two weeks prior. ‘We took it personally,’ Smythe acknowledged, ‘and she addressed it emphatically by defeating that competitor by nearly two seconds.’

    Regarding his son’s performance, Coach Smythe explained that Johan-Ramaldo’s indoor time of 21.18 seconds translates to approximately 20.7 seconds outdoors, suggesting even greater potential. The young sprinter reportedly could have achieved faster results but was unfamiliar with indoor track conditions, essentially jogging through significant portions of his race.

    The athletes, who followed Coach Smythe from Muschett High to Holland High, maintain their established training regimen. The team now focuses on fine-tuning techniques and preparing for upcoming competitions including the Carifta Trials, Carifta Games, and championship events.

  • Senior judge urges motorists to educate themselves about traffic laws

    Senior judge urges motorists to educate themselves about traffic laws

    KINGSTON, Jamaica—The Jamaican judiciary has issued a compelling call for motorists to proactively educate themselves on national traffic legislation, emphasizing that legal literacy enables better decision-making and courtroom preparedness. Senior Judge Mitsy Beaumont-Daley of the Corporate Area Traffic Court delivered this message during a recent traffic symposium at the St Mary Parish Court, highlighting widespread ignorance of road laws among defendants. Judge Beaumont-Daley revealed that numerous individuals appearing before her court demonstrate unfamiliarity with basic traffic regulations, necessitating judicial explanations of statutes before defendants can enter informed pleas. She stressed personal responsibility in studying the Road Traffic Act, Transport Authority Act, and Road Traffic Regulations to confidently assert guilt or innocence when charged. The address identified frequently misunderstood offenses, including improper fog lamp usage—often confused with daytime running lights—and permissible hands-free device operation while driving. Judge Beaumont-Daley clarified that fog lamps are legally restricted to specific weather conditions, and electronic device use constitutes an offense only when not in hands-free mode. She articulated that comprehending penalties promotes compliance through wisdom and respect for others’ safety rather than mere fear of punishment. The senior judge concluded with a stern reminder that driving constitutes a privilege subject to revocation for abuse, affirming the court’s commitment to firm yet fair enforcement of traffic laws.

  • JPS contractor dies after falling from ladder

    JPS contractor dies after falling from ladder

    A tragic workplace incident in rural Jamaica has claimed the life of a veteran utility contractor. Courtney Robinson, a 66-year-old resident of Mandeville, Manchester, died on Monday afternoon following a fatal fall from a ladder while performing electrical maintenance operations. The accident occurred approximately at 4:00 PM in the Butt Up Town area near Albert Town, located in the southern Trelawny parish. Preliminary reports indicate Robinson sustained severe cranial trauma from the fall, which ultimately proved fatal. Local residents who witnessed the aftermath reported the contractor was engaged in routine service work for Jamaica Public Service Company (JPS) when the accident transpired. While the exact circumstances leading to the fall remain under investigation, Jamaica’s Constabulary Communications Network (CCN) has officially confirmed the incident without releasing specific operational details. The energy provider has not yet issued an official statement regarding the tragedy or the deceased contractor’s employment status.

  • GHN’s ‘Beyond the Book Bag’ initiative reaches 135 students

    GHN’s ‘Beyond the Book Bag’ initiative reaches 135 students

    Jamaican-American philanthropist Dr. Laxley Stephenson is spearheading a significant educational recovery effort across hurricane-affected regions of Jamaica through his organization, Global Humanity Network Incorporated (GHN). The nonprofit’s ‘Beyond the Book Bag’ initiative has now reached 135 students islandwide, with recent distributions serving 85 additional students across Westmoreland and St Elizabeth parishes.

    The expansion follows GHN’s initial December deployment in Trelawny, where 50 students received comprehensive educational support after Hurricane Melissa destroyed critical learning materials. The latest phase provided complete textbook sets and essential supplies to 60 Westmoreland students and 25 in St Elizabeth, representing 20 educational institutions across both parishes.

    Dr. Stephenson, GHN’s President and CEO, emphasized the strategic nature of the intervention. ‘Our response transcends conventional charity,’ he stated. ‘While addressing immediate textbook shortages through approximately $1 million in distributed materials, we’re simultaneously launching a three-year mentorship framework designed to create sustainable educational pathways.’

    The initiative has garnered enthusiastic support from educational leaders. Nerissa Stevens, Principal of Little London Primary School, reported that GHN exceeded initial commitments by providing materials for 19 students instead of the planned nine. ‘This intervention directly addresses classroom instructional gaps,’ Stevens noted. ‘Recipients span our entire educational spectrum, from early childhood through sixth grade.’

    Concurrently, GHN is undergoing a strategic transformation from charity-focused operations to capacity-building development. The organization unveiled a 2026-2029 roadmap establishing a structured pipeline beginning with immediate relief (‘Helping Hands’), progressing through mentorship programs (‘Mentoring Matters’), and culminating in long-term educational investments (‘Beyond the Backpack’).

    The phased implementation will establish student cohorts and tracking systems in 2026, expand partnerships in 2027, and scale the model regionally through 2029. Professor Stephenson characterized this evolution as ‘elevating charity into a strategy for building futures,’ anticipating outcomes including strengthened youth leadership, reduced aid dependency, and self-sustaining community development.

  • Zed Airlines planes hit by bullets in Haiti

    Zed Airlines planes hit by bullets in Haiti

    A severe escalation of violence has directly targeted Haiti’s critical aviation infrastructure, plunging the nation’s air travel into deeper crisis. The Toussaint Louverture International Airport in Port-au-Prince became the scene of a dangerous attack on Sunday when two commercial aircraft operated by Zed Airlines SA were struck by bullets during their final approach for landing.

    The National Civil Aviation Office (OFNAC) and the National Airport Authority (AAN) issued a joint statement vehemently condemning the act, highlighting its grave implications for both passenger safety and the integrity of Haitian airspace. In immediate response to what it termed a ‘force majeure event,’ Zed Airlines announced an indefinite suspension of all its flight operations into Haiti. The carrier stated this decisive action was mandated by international safety protocols and its legal duty to protect passengers and crew.

    The airline, a key operator on the Haiti-Brazil route, clarified that any future resumption of services is entirely contingent upon comprehensive technical and safety evaluations, directives from aviation authorities, and the findings of ongoing investigations. This incident has starkly revived security concerns surrounding the airport, echoing a similar episode in 2024 that prompted U.S. aviation regulators to suspend carrier flights after multiple gun attacks.

    This attack underscores the extreme volatility and powerful grip of armed gangs that have overwhelmed Haiti’s capital since the 2021 assassination of President Jovenel Moïse. The United Nations reports that relentless gang warfare has resulted in thousands of fatalities and displaced countless more, with significant portions of Port-au-Prince under their control. The targeting of international aviation marks a alarming expansion of the violence, further isolating the embattled Caribbean nation. No casualties have been reported from Sunday’s shooting.

  • Dwyane Vaz threatens legal action against Julian Chang over sexual harassment claims

    Dwyane Vaz threatens legal action against Julian Chang over sexual harassment claims

    KINGSTON, Jamaica — A significant political dispute has erupted in Westmoreland Central following sexual harassment allegations between two prominent figures. Member of Parliament Dwayne Vaz has formally threatened legal proceedings against Councillor Julian Chang of the People’s National Party (PNP), representing the Savanna-la-Mar Division, over what Vaz claims are entirely fabricated accusations.

    Through his legal representatives at Knight, Junior, and Samuels, Vaz issued a formal demand letter to Chang on Tuesday. The attorneys categorically refuted allegations made by Chang during a recent radio interview, characterizing them as both ‘defamatory’ and ‘factually incorrect.’ The legal notice demands a full public retraction and formal apology from Chang by January 30.

    The contested statements include Chang’s claim that Vaz made unwanted sexual advances and threatened his political career when these advances were rejected. Additionally, Chang alleged that Vaz accused him of preferentially maintaining roads in Labour Party areas and subsequently orchestrated his removal as chairman of the Savanna-la-Mar division.

    Vaz’s legal team presented a counter-narrative, emphasizing that Chang participated in a division election but failed to secure nomination or election to any leadership position through the democratic process. The attorneys argue these allegations have inflicted substantial and ongoing damage to Vaz’s professional reputation and public standing.

    The political context adds complexity to the confrontation: Vaz recently reclaimed the Westmoreland Central constituency in the 2025 General Election, defeating Jamaica Labour Party’s George Wright by a margin exceeding 1,500 votes. This victory marked a reversal of the 2020 election outcome where Wright previously defeated Vaz with 53.76% of the vote.

  • GO FOR IT!

    GO FOR IT!

    Defying a string of recent disappointing performances, West Indies Head Coach Daren Sammy is projecting unwavering confidence in his squad’s capability to clinch a historic third ICC T20 World Cup title. The tournament, scheduled from February 7 to March 8 across India and Sri Lanka, will see the Caribbean side enter as perceived underdogs.

    The selected 15-man roster, confirmed by Cricket West Indies, guarantees continued Jamaican representation at the T20 World Cup for the tenth consecutive edition. Batsmen Rovman Powell and Brandon King, both named to the squad, will be making their third successive appearance at the global showpiece. This achievement places them among an elite group of Jamaicans, including legends Chris Gayle and Andre Russell, who have featured in multiple tournaments.

    Current form, however, presents a significant challenge. The team arrives on the heels of a 2-1 series defeat to Afghanistan, compounding a dismal run that includes recent losses to New Zealand, England, Australia, Pakistan, and even Nepal throughout 2025. This follows an early quarterfinal exit on home soil in the previous World Cup and series defeats to Bangladesh and Sri Lanka late in 2024.

    Despite this adverse trajectory, Coach Sammy’s optimism is palpable. He draws direct parallels between the current team’s composition and the victorious 2016 squad he captained to glory in India. Sammy highlighted the immense firepower within the group, pointing to players like Powell, Shimron Hetmyer, Roston Chase, and a deep roster of all-rounders as sources of his belief.

    “The realistic point is we can win it and I believe so,” Sammy asserted. He acknowledged the external skepticism but emphasized a powerful, unified energy within the camp during their final preparations in Johannesburg. For Sammy, the mission is singular: “When we board that plane from Johannesburg to India, we are going out there to play a tournament to win. That’s the only focus on our mind.”

    The West Indies commence their Group C campaign against Scotland on February 7, followed by crucial matches against England, Nepal, and Italy. The top two teams will progress to the Super 8 stage, where the Windies hope their quiet confidence transforms into a spectacular upset.

  • SAINT models dominate Parisian runways

    SAINT models dominate Parisian runways

    The global fashion scene is currently illuminated by the remarkable achievements of two Jamaican models from SAINT International, who are making significant strides on prestigious international platforms.

    Dru Campbell, having recently completed a powerful appearance at Paris’s co-ed collections during the Fall/Winter Men’s 2026 Ready-to-Wear show season, further solidified her status by walking in Dior’s Haute Couture Spring/Summer 2026 show this Sunday. Her presence at such exclusive events highlights her growing influence within haute couture circles.

    Simultaneously, fellow SAINT International star Jessie Craig is capturing attention in New York’s luxury market. The Spanish Town native, rapidly ascending as a fashion industry darling, has been announced as the new face for Agmes, a celebrated fine jewelry brand based in New York. Founded a decade ago by Morgan Lang, Agmes has selected Craig to front their latest campaign celebrating the brand’s 10th anniversary.

    The newly released editorial features Craig showcasing pieces from Agmes’ Echo Collection, including the elegant Fredrika bracelet paired with the brand’s signature small Celia hoops. The collection emphasizes sustainable luxury, featuring pieces like the Nadia pendant crafted from recycled precious metals and the statement-making Jean cuffs released for the anniversary celebration. Each piece, from the sterling silver Frederika necklace to the distinctive Hilda earrings, is presented with Craig’s distinctive elegance, reflecting both the model’s rising star power and Agmes’ commitment to artistic design and environmental consciousness.