The News—May 12, 2026

Hinzugefügt: 2026-05-13

[00:00:00]It's Tuesday, May 12th. In the headlines, Tax Administration Jamaica extends licensing deadline for sweetened beverage manufacturers to May 15. In business news, Micro Stock Exchange to be launched at SBJ conference.

[00:00:18]Regionally, Leat revises flights amid fuel price spike. And in sports, Sunshine Girls I UK training camp ahead of Commonwealth Games push. This is the news on PBC Jamaica. I'm Simone Abselum Gale.

[00:00:51]Manufacturers of non-alcoholic sweetened beverages now have until May 15 to complete licensing requirements under the new special consumption tax regime.

[00:01:03]The Tax Administration Jamaica says in a statement that the decision follows discussions involving the Jamaica Manufacturers and Exporters Association, the Ministry of Finance and the Public Service and TJ.

[00:01:20]TJ says the new tax measures took effect on May 1 and apply to sugary and artificially sweetened beverages produced or imported into Jamaica.

[00:01:32]Manufacturers are now required to obtain licenses under the Excise Duty Act and register with TJ for special consumption tax purposes.

[00:01:44]The tax will be charged at a rate of 22 cents per gram of added sugar or sweetener which could lead to higher prices for affected products. The government says the measure is aimed at reducing excessive sugar consumption while strengthening revenue collection.

[00:02:05]TJ says it has been engaging stakeholders through webinars and will host an online panel discussion on May 14 to provide further guidance on the new requirements. Jamaica's tourism sector could see major legislative changes. Tourism Minister Edmund Bartlett says the government plans to introduce a new tourism authority act under its tourism 3.0 O strategy replacing legislation that has governed the industry for more than 70 years.

[00:02:38]Speaking at a tourism enhancement fund event in Montego Bay, Minister Bartlett said the current laws no longer reflect the modern structure and growth of the sector. We began 72 years ago when the legal framework was established around the establishment of the Jamaica Tourist Board and the Tourism Act was then developed in line with what the tourist board envvisaged at the time.

[00:03:14]Since then we have morphed into a tourism ministry with agencies but we still have the tourist board act.

[00:03:28]>> The tourism minister says the government now plans to repeal and revise the existing law and introduce a new tourism authority act to guide the industry into the future. So the first part of reimagining and getting tourism 3.0 is a repealing of that act, a revision of that act, and the creation of a tourism authority act.

[00:03:57]>> Minister Bartlett says stakeholders across the tourism sector will be consulted to ensure the legislation reflects the realities and future needs of the industry. So that one you will hear much more about as we work through the legal and technical arrangements around it and the consultations that we will do with you our partners to ensure that we have a robust and relevant and appropriate act for the managing of this great industry into the future.

[00:04:27]>> The minister also stressed that tourism 3.0 O will require support from several sectors including the agriculture, education, health and national security, adding that health resilience and education will become increasingly important as visitor expectations evolve.

[00:04:47]>> This tourism 3.0 O is not the product of the mind of a minister or even a ministry because tourism embraces all segments of the society and there is no tourism without everyone. The proposed tourism authority act is expected to become central pillar in the government's effort to reposition Jamaica's tourism sector for long-term sustainability and greater local participation. Prime Minister Dr. Andrew Holes is encouraging developers to take advantage of the National Housing Trust's guaranteed purchase program as the government plans to expand housing development in St. Thomas. Speaking at the groundbreaking ceremony for the Rosel State project, Prime Minister Holes said the parish is positioned for major growth because of ongoing infrastructure improvements and increased private sector interest.

[00:05:50]Denita Rodney has more in this report.

[00:05:53]>> Prime Minister Dr. Andrew Hoes says developers should make greater use of the NHT's guaranteed purchase program to boost housing delivery. The guaranteed purchase program I think is a wonderful innovation and I encourage more developers especially in St. Thomas to approach the NHD to utilize it.

[00:06:16]>> The program allows developers to build housing projects with the NHD guaranteeing the purchase of completed units. Prime Minister Hon says improved infrastructure is making St. Thomas attractive for housing expansion. It is the roadway is convenient, the lands are available, the water infrastructure has been put in and uh the government's policy is to support housing development along this corridor.

[00:06:49]>> Dr. says the parish could see up to 10,000 housing solutions over the next 3 years as more developers partner with the NHT >> and the NHT will tell you that there are several land owners along this stretch that have already approached the NHD for them to purchase lands and for them to partner with housing development.

[00:07:20]St. Thomas is going to benefit from an expansion in the housing thrust because of its proximity to the Kingston Metropolitan.

[00:07:30]>> The $9.65 million Rosel estate project will include one and twobedroom units with 660 homes allocated to the NHT. In this episode of Living Healthy, we join the health ministry in exploring reasons to reduce our sugar intake. Camila is here to be your helpful companion as we work together to reign in those sugar cravings and better manage our sugar consumption.

[00:08:08]There is a substance that you are consuming every day, probably much more than you realize it, and it's destroying your life. The worst part is you're probably addicted to it because, well, most of us are. It's a highly addictive substance, and the more you eat it, the more you crave it, and the more damage it's doing to your body. Can you guess what that is?

[00:08:30]That's right, it's sugar. I'm Camila McDonald, personal trainer and integrative nutritional health coach, and welcome to our national no sugar series brought to you by the Ministry of Health and Wellness spareheaded by the Oral Health Unit. During this series, we're going to learn all about refined sugar, why we want to cut it out in the first place, and what a healthier consumption of sugar could look like, and what you can start doing right now in your life to reduce your sugar cravings. cut back drastically on your sugar consumption and add some really quality years back to your life. Now, we're not talking about the sugar that naturally occurs in fruits and veggies.

[00:09:10]Those sugars are our friends. All right?

[00:09:12]We're talking about the highly processed sugar. It's found in many, in fact, most of the foods that we're consuming every day. And I'm also not referring to the occasional candy bar, the ice cream, maybe a birthday cake for a friend's birthday. That's actually perfectly fine. It's the sugars that you are consuming on a regular basis in probably much larger amounts than you even realize. And I want to get to the bottom of this with you because the more conscious we are about our habits and how they're driving our behaviors, the easier and maybe even more pleasurable it will be to cut back. So what's so bad about sugar anyways, guys? It's sweet.

[00:09:50]It gives us quick energy. It comforts and soothes us, right? So how could that be bad? Well, I think that's a really important place to start. Consuming too much sugar affects our oral health, our heart health, our brain health. It raises our blood pressure. It increases our cholesterol levels. When we eat too much processed sugar, it leads to blood sugar issues over time. So things like insulin resistance where your body doesn't respond to insulin anymore and it just ends up hanging out in your bloodstream. So then we're talking about pre-diabetes and then later down full-blown type 2 diabetes.

[00:10:26]Also, an excessive amount of refined sugar raises the blood sugar levels to a point where there is high inflammation in the body. And when that is combined with the high levels of insulin, things like cancer cells could grow in these conditions. Too much sugar in our body also affects our gut health by feeding the bad bacteria and causing an overgrowth of them. And when we have an imbalanced gut, so many issues arise. I mean, it affects our entire health and wellbeing. Our mood, our energy levels, skin issues occur, sleep disorders. I mean, a gamut of problems that really affect our quality of life and often times the length of our life. So, this is pretty important, guys. We have this one precious life. We have to hold it sacred. We have to do as much as possible to almost biohack our health and our vitality. Don't you want to live a long, strong, healthy, and vibrant life? Well, anything at all that you can do to minimize your added sugar intake and bring down the inflammation in the body is doing exactly that. Time now for the business report with Denise Williams.

[00:11:39]Welcome to today's business report. I'm Denise Williams bringing you the developments shaping markets, capital access, and business decision making across Jamaica and the region. Let's get into the stories that matter. Finance Minister Fava Williams is set to officially launch the micro stock exchange at the Jamaica Pegasus Hotel on July 16. The announcement was made by Garnet Reed, president of the Small Business Association of Jamaica, who sits on the steering committee for the project. The exchange is designed to help properly operated micro businesses raised between 50 million and 100 million in long-term financing. The launch had originally been scheduled for April. An initial group of 25 companies has now been prepared for listing through an accelerator program being managed by the Jamaica Business Development Corporation. The Micros Exchange will also offer listing fees that are lower than the Jamaica Stock Exchange Junior Market. Kingston Properties Limited reported that for the three months ended March 31, 2026, rental income increased by 31.7% year-over-year to US $1.8 million up from US 1.3 million a year ago, supported by the expansion of its investment property portfolio and increased contributions from its United Kingdom assets. Chief Executive Officer Kevin Richards hailed the positive performance, saying, "The first quarter results demonstrate a clear strengthening of the group's underlying earnings profile with significant rental income growth, well controlled operating expenses, and a more visible contribution to the group's reoccurring results from our UK assets. Compared to last year, our Q1 2026 results were driven more directly by core rental performance and cash generation supported by active asset management portfolio wide. For the trading period of May 11, 2026, the most actively traded securities were oneon-one educational services limited with 13,755,980 units representing 34.57% of market sales activities. Kentire Holdings Jamaica Limited with 6,125,445 units representing 15.4% of market sales activities. Trans Jamaica Highway Limited with 4,94,421 units representing 12.33% of market sales activities.

[00:14:48]Investor activity remained concentrated in education, transportation, and distribution plays, signaling continued interest in dividend producing and strategic assets. Turning to the foreign exchange market base on Bank of Jamaica data for May 11, 2026, forex traders recorded significant activity with strong demand across major currencies.

[00:15:13]for the US dollar. Trading margins reflected steady liquidity with the US selling at $15726 and buying at $158.93.

[00:15:26]For the Canadian dollar, moderate gain supported by $6.51 transactions spread. The Canadian dollar sold for $117.61 and was bought for $11110.

[00:15:41]For the British pound, continued volatility offered short-term trading opportunities of $2.51 in profits for the banks. The British pound sold for $214.33 and was bought for $211.82.

[00:16:01]These movements underscore the importance of cash flow timing and currency awareness for businesses managing import costs, debt servicing or overseas exposure. for our credit report tip of the day. For many professionals, travel has become connected to remote work opportunities, networking and conferences, family mobility, lifestyle design, wellness and rest cycles, international business expansion, cultural learning, content creation, and side income. The challenge is that travel often requires access to flexibility before cash flow catches up.

[00:16:45]That's where credit structure matters.

[00:16:48]Your credit report reflects lifestyle readiness. A healthy credit profile signals reliability, planning ability, and financial discipline. Those traits affect more than loan approvals. They influence credit card access, travel rewards eligibility, hotel deposits, vehicle rentals, mortgage applications, business financing, insurance pricing in some markets, and emergency liquidity options. When your credit report is weak, travel becomes reactive and stressful. When your credit report is strong, travel becomes strategic. And that's today's business report. I'm Denise Williams bringing clarity to capital markets and strategy. Until next time, stay informed, stay intentional, and keep building forward. See you soon.

[00:17:49]In regional news, Antigga and Barbuda is taking a firm stance at the Organization of American States over proposed Interamerican Declaration despite opposition from several larger countries in the hemisphere. The country's ambassador to the OAS, Ronald Saunders, says Antigga and Barbuda may even boycott next month's OAS General Assembly if the declaration is left off the agenda. ABS News spoke exclusively with Sir Ronald on Monday. Garfield Berford has that story.

[00:18:27]A proposed declaration on the rights of people of African descent has been dividing the countries of the Americas.

[00:18:33]With it just a month and a half before the general assembly of the Organization of American States in Panama, there is still no agreement on the full text of the declaration. The document focuses on four thematic areas: recognition, justice, development, and agenda.

[00:18:48]Antigga and Barbie's position is crystal clear. If I may, I would like to read to you directly what the prime minister said to me in a message this morning. He said, "Stand your ground. We stand on the principles of justice, truth, and right irrespective of the consequences.

[00:19:09]We should never cower in defending the national interest and should continue to stand against injustices in all fora."

[00:19:18]Sir Leanders explains why it is important that Antigga and Barbara gives its unstinting support to the declaration. This uh declaration, the proposed declaration uh on the rights of persons and peoples of African descent goes directly to our history, our identity, and our moral responsibility as a people whose society was shaped by African enslavement, colonial exploitation, and the long struggle against racism and discrimination.

[00:19:53]He also hopes the other 13 independent Caracum countries stand united in support of the declaration and its adoption at the general assembly or the OAS. There have been 14 negotiation meetings on this declaration so far and more than half of the text has been agreed. Media reports suggest some governments such as in Argentina and El Salvador are trying to undermine the negotiation process. It is obvious in the negotiations that there are a number of countries closely associated with the ideological position of the United States who have been arguing for this declaration not to proceed. In fact, not to see the light of day uh at the general conference in Panama.

[00:20:35]>> Some reports also say the United States, the OAS's most powerful member, has been seeking to exert pressure on countries not to support the declaration. So what has the US actually said on the issue?

[00:20:46]>> In none of the negotiations in which my delegation has been involved has the United States actually said anything. It may be that they feel that others are effectively dealing with the matter so that they don't have to present themselves but the reality is that uh they've not spoken to my delegation and even if they were uh I think they would understand that Antigan Barbuda is not going to be coerced into taking a position that betrays our ancestors in the Caribbean. And if this declaration is not on the agenda of the OAS meeting in June, Sir Ronald is clear what his recommendation would be.

[00:21:26]>> My own recommendation to my government uh if this matter were not to go forward is that we would have to think seriously about whether wish to attend the general assembly at all. Still in Antigga, regional carrier Leat Air says rising global fuel prices linked to the conflict in the Middle East are forcing the airline to take operational adjustments. CEO Hafsa Abdul Salam says the company now reviewing its flight schedules monthly as it tries to balance rising costs while keeping regional travel accessible and affordable. Alicia George reports.

[00:22:09]>> Leat ear says it is now conducting monthly reviews of its flights, adjusting routes, and combining services where needed to manage rising costs.

[00:22:17]Those costs are being driven largely by increasing fuel prices linked to global tensions, including the conflict involving the United States, Israel, and Iran.

[00:22:26]>> If fluctuating um then there's a sense of it's going up and down, right?

[00:22:30]Unfortunately, it's one it's only going one way and it's going up. The airline CEO Hafsa Abdul Salam says Leat Air initially absorbed those costs trying to protect passengers from higher fears and keep regional travel affordable.

[00:22:44]>> Fortunately, with the um progressive increase of that cost obviously we we needed to take a have a reook so that we're not just burning cash.

[00:22:55]>> But that approach is now becoming hard to sustain. a fuel prices have gone literally almost double and obviously our our operating cost has doubled in um in in the same same um proportion as well. So um what we're looking to do is to kind of hone in um the service, ensure that every experience that every passenger has with us flying um it's a it's a fantastic positive um service you know delivering our promise on our time performance and um cross consolidating our operations.

[00:23:27]>> For travelers this could mean fewer flights or changes to schedules but not necessarily higher ticket prices at least for now. Abdul Salam says even if global tensions ease, the impact of high fuel prices will linger. Lead has therefore turned to partnerships. So we're doing some layer of rationalization. But what we want to do is we'll do it on a month-to-month basis as opposed to, you know, just cutting flights. So we assess the flights and then if there's a there's a need to do a merger here, a merge here or combine a flight here, then we will take that opportunity. It is in talks with Caribbean Airlines and Intercaribbean Airways deals that could allow passengers to book a single ticket across multiple airlines that could make it easier to travel beyond the region including connections to destinations like Surinam and Paris. The airline is also finalizing an agreement with Air Karibe expanding access through Guadloop into Europe. Alicia George for ABS News.

[00:24:23]In Trinidad and Tobago, Minister of Foreign and Caraccom affairs Sha Soers has welcomed the signing of a memorandum of understanding between Trinidad and Tobago and India on Friday, saying it will allow members of the diaspora to trace their ancestral lineage.

[00:24:44]>> The MOU focuses on the digitization of records held at the National Archives. Speaking at the Mahatma Gandhi Institute for Cultural Cooperation on Saturday evening, Minister Soas also highlighted the historic significance of Nelson Island which India's external affairs minister Dr. Subramanyam Jaiankar visited earlier that morning.

[00:25:06]>> Minister Jaish Shanka had the opportunity to visit Nelson Island which from 1866 to 1970 was the first port of call for indentured laborers from India. For many Indoor Trinidadians, trips to Nelson Island serve as a reminder of the treacherous journey of our ancestors to an unknown land that they eventually called their home.

[00:25:34]The National Trust of Trinidad and Tobago under the opices of the of the office of the prime minister has worked tirelessly to protect and promote the history of Nelson Island.

[00:25:47]The MOU includes the digitization of archival documents, allowing citizens, particularly those of Indian descent, to more easily trace their lineage.

[00:25:58]Similarly, the National Archives of Trinidad and Tobago, another agency under the office of the prime minister, has committed to provide greater access to the records in its possession.

[00:26:12]India has lent a helping hand toward these efforts with our two countries yesterday signing a memorandum of understanding on the digitization of the records of the national archives.

[00:26:25]Minister Jai Shanka we thank the government of India for ensuring that its diaspora around the world but particularly in Trinidad and Tobago will be able to trace their lineage. In sports, we go courtside with Netball.

[00:26:42]Netball Jamaica is planning a training camp in the United Kingdom to give the senior Sunshine Girls the best possible shot at gold at the 2026 Commonwealth Games in Glasgow, Scotland. The Commonwealth Games is set to take place from July 23 to August 2. Netball Jamaica President Karen Bo says from a logistical standpoint, the camp will carry added benefit for Jamaica's elite players, many of whom are currently competing in overseas franchise leagues, including Australia. The final of Australia's professional league isn't until July 5, just weeks before the Commonwealth Games begins. In cricket, Trinidad and Sobago's Red Force have taken the upper hand over Barbados's pride in their West Indies Championship playoff, posting 333 all out after winning the toss and electing to bat first. Barbados are currently nine wickets down in reply on 262.

[00:27:50]Here's more from Nasir Muhammad.

[00:27:52]Trinidad and Tobago Red Force won the toss and chose to bat on Sunday. It was anything but straightforward against a disciplined Barbados Pride bowling attack. Cifas Cooper top scored with a patient 93 while Captain Joshua de Silva contributed a steady 70. Terren Hines added 51 and Amir Jango 41 as TNT were bowled out for 333.

[00:28:16]Shamar Springer was the pick of the Pride Bowlers claiming three for 40. In reply, Barbados struggled to build partnerships, losing captain Craig Braweight for a duck early on.

[00:28:29]>> Leno Boucher top scored with 80. Shamar Springer 51, while Joshua Bishop remained not out on 79.

[00:28:38]>> Anderson Phillip was the standout bowler for the Red Force, finishing with figures of four for 51.

[00:28:44]Barbados closed day two on 262 for9 still 71 runs behind with one wicket in hand.

[00:28:52]>> And that's it for the news on PBCJ pleasant viewing.

[00:29:10]Heat.