AGP Executive Report
Last update: 10 hours agoDeep-Sea Mining Push: The US plans to auction large sections of water around American Samoa for deep-sea mining, a move critics say breaks with the Jamaica-based International Seabed Authority’s rules and could worsen environmental risks. Ratings Boost for Sagicor: AM Best upgraded several Sagicor Financial subsidiaries’ credit ratings and affirmed Jamaica/Bermuda operations with a stable outlook, a positive signal for financial stability. UWI Expansion Funding Focus: UWI Mona and Western Jamaica campuses are set for a 3–4 year capital expansion, including a 50-bed hospital and new engineering facilities, as tertiary leaders press for smarter financing. Banking Payments Overhaul: NCB says cheques of J$1 million+ will stop being accepted/issued via the national clearing system from Sept 1, as Jamaica modernises payments and shifts to percentage-based charges. JCF Payment Delays: Former JCF members report long waits for retroactive payments and leave balances, with the police federation urging action. Integrity Commission Case Stalls: The IC says it can’t locate seven former public officials tied to statutory declaration failures, leaving cases dormant. Education Costs Relief: UWI expansion plans include no cost hikes for students, while CMU’s president urges a new tertiary funding model. Local Business & Markets: Scotia Group Jamaica got court approval to hold October shareholder meetings that could advance a delisting buyout; Derrimon Trading reported revenue down a third in Q1 amid supply and demand pressures. Sports & Economy: Jamaican betting activity surged during the World Cup, with Supreme Ventures and Island Bet reporting record wagering volumes.
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