News Briefs

The Jamaica Constabulary Force is reporting that two firearms were seized by police teams on Thursday.

A team of officers assigned to the Manchester Police Division reportedly seized one homemade firearm and four Winchester 12-gauge cartridges in bushes during an operation in the Greenvale Housing Scheme in Mandeville.

Also, during an operation on Hall Lane in Montego Hills, St James, officers assigned to the St James Police Division seized one assault rifle and six rounds of ammunition.

The police report that at about 11:30 a.m., lawmen were in the area when a group of armed men opened fire at them. The police responded, and when the shooting subsided, a search of the area was conducted, and one AK-47 rifle with a magazine containing six 7.56 rounds of ammunition was seized.

No one was arrested in relation into the seizures.

The Government has initiated steps to tap into nearly $50 billion in dormant bank accounts to provide low-interest financing to micro, small, and medium-sized enterprises (MSMEs).

Industry, Commerce, Agriculture and Fisheries Minister Audley Shaw says that a consultancy group has been contracted and tasked with the responsibility of reviewing and advising the Government on this engagement.

He was speaking at a Jamaica Business Development Corporation stakeholder breakfast forum at the Spanish Court Hotel in New Kingston on Thursday.

The action comes against the background of the governance framework, which Shaw noted stipulates a 15-year timeline before the dormant funds can be accessed by the State.

This compares to the international standard of seven years and the five-year timeline in the United States.

Shaw, who advised that he met with the consultants earlier this week, indicated that the group is “actively” exploring the matter and will submit reports on the outcomes.

Dennis Chung has now taken over as interim chief executive officer of Supreme Ventures Racing and Entertainment Limited (SVREL).

Parent company Supreme Ventures Group announced yesterday that Chung, who was the chief financial officer, has been appointed to act in the top executive post following the sudden departure of Major Hugh Blake, who resigned on Thursday.

The gaming and entertainment company said that Chung would act in the CEO position until a suitable replacement is found.

According to Supreme Ventures, Blake, who was at the forefront of positioning SVREL over the last few months, has vacated the post to pursue other interests and personal projects.

PORT-OF-SPAIN, Trinidad (CMC):

The Trinidad and Tobago government says it is seeking to help the cash-strapped regional airline LIAT reduce its financial burden by possibly entering into an agreement with the state-owned Caribbean Airlines regarding the maintenance of its fleet but that Port-of-Spain would not be injecting cash into the airline.

Prime Minister Dr Keith Rowley, speaking at a news conference at the Piarco International Airport on Thursday, said that CARICOM leaders, who met in St Kitts, had been updated on the financial burden facing the Antigua-based airline.

While Trinidad and Tobago has a “minuscule” shareholding in LIAT, the regional airline major shareholders are the governments of Antigua and Barbuda, Barbados, Dominica, and St Vincent and the Grenadines.

Rowley said: “ ... The heads of government were informed that LIAT is in serious financial difficulties, meaning within a matter of a fortnight, an injection of a minimum of US$5 million is needed in order to keep flying.”

Rowley told reporters that LIAT has enough “cash to last for 10 days “.