Tue | Jan 19, 2021

Stories by Steven Jackson - Senior Business Reporter

Published:Friday | January 15, 2021 | 12:08 AMSteven Jackson - Senior Business Reporter

Jamaica’s potential oil reserves are now closer to tenfold the level of previous estimates, according to the latest detailed study, but the ministry in charge of energy argues that the findings are still preliminary and it’s therefore premature to...

Published:Friday | January 15, 2021 | 12:07 AMSteven Jackson - Senior Business Reporter

Ehave Inc, a North American listed company which offers magic mushroom and ketamine services, announced that it elected Jamaica’s Mark Croskery to the board of its new subsidiary, to focus on securing deals in Jamaica and the region. Both Ehave...

Published:Friday | January 8, 2021 | 12:09 AMSteven Jackson - Senior Business Reporter

Derrimon Trading Limited, DTL, owners and operators of the Sampars and Select Grocers supermarkets, among other holdings, expects to more than double profits to approximately $800 million by acquiring unnamed retail entities in the United States...

Published:Sunday | December 27, 2020 | 12:05 AMSteven Jackson - Senior Business Reporter

Rum maker J. Wray...

Published:Sunday | December 20, 2020 | 12:17 AMSteven Jackson - Senior Business Reporter

Cargo Handlers Limited, CHL, has spent $100 million to acquire 30 per cent stake in Buying House Cement Limited, a cement importer based in Montego Bay that mostly supplies western Jamaica. Domicem, a company based in Dominican Republic, will...

Published:Friday | December 18, 2020 | 12:17 AMSteven Jackson - Senior Business Reporter

Distribution company Derrimon Trading Limited, DTL, which operates the Sampars and Select supermarkets, among other businesses, will remain listed on the junior market of the Jamaica Stock Exchange, JSE, despite its pending $3.5-billion capital...

Published:Friday | December 18, 2020 | 12:15 AMSteven Jackson - Senior Business Reporter

As moratoriums on mortgage payments come to an end, real estate experts see rising risk for homeowners losing their homes to foreclosures by lenders. That’s because of the job losses under the pandemic and the slow recovery of the decimated...

Published:Friday | December 11, 2020 | 12:17 AMSteven Jackson - Senior Business Reporter

Food and logistics conglomerate Jamaica Producers Group, JP, will pay out $224 million in dividends to shareholders in mid-January, its largest since 2015. The distribution at 20 cents per share represents a yield of under 1.0 per cent on the...

Published:Wednesday | November 25, 2020 | 12:12 AMSteven Jackson - Senior Business Reporter

TransJamaican Highway, toll operator for the East-West corridor of Highway 2000, has moved forward plans to acquire more toll roadway currently under construction in the parish of Manchester. The road project is being undertaken by the Government...

Published:Sunday | November 22, 2020 | 8:18 AMSteven Jackson - Senior Business Reporter

Jamaica hopes to keep its luxury coffee exports to Japan on par with previous years, but the latest data shows its losing ground to coffee imports from richer non-coffee producing nations. Jamaica exports most of its coffee to Japan, the world’s...

Published:Friday | November 20, 2020 | 12:13 AMSteven Jackson - Senior Business Reporter

Job losses arising from the COVID-19 fallout are worse than the previous crisis in 2008, but recovery should happen four times as fast, according to Planning Institute of Jamaica, PIOJ, Director General Dr Wayne Henry. That’s due to the improved...

Published:Friday | November 20, 2020 | 12:12 AMSteven Jackson - Senior Business Reporter

Facing a new paradigm of smaller offices and staff working remotely from home, the inevitable implication of which is reduced demand for office furniture, Stationery and Office Supplies Limited, SOS, has started offering home office furniture to...

Published:Friday | October 23, 2020 | 12:18 AMSteven Jackson - Senior Business Reporter

The number of car crashes have fallen since the April imposition of COVID-19 curfews, but the damage sustained in motor accidents were found to be more severe. The upshot for IronRock is that claims are tracking apace with last year, despite fewer...

Published:Friday | October 23, 2020 | 12:18 AMSteven Jackson - Senior Business Reporter

Over the three years in which David Noel has led Scotia Group Jamaica as president and CEO, he has grown loans by more than a third, keeping pace with the market, but the bank has been outmatched by its chief rival in terms of profits and asset...

Published:Friday | October 16, 2020 | 12:12 AMSteven Jackson - Senior Business Reporter

The market value of Barita Investments Limited, BIL, has hit $100 billion for the first time, a status held by only three other stocks, all of which are financial firms. However the stock pared gains the following day. BIL closed at $92.20 on...

Published:Sunday | October 11, 2020 | 12:09 AMSteven Jackson - Senior Business Reporter

About half of households surveyed in Jamaica have registered a job loss since the pandemic, according to findings of an Inter-American Development Bank, IDB, survey. Contrastingly, upper-income households registered job losses at half the rate, or...

Published:Thursday | October 8, 2020 | 7:20 PMSteven Jackson - Senior Business Reporter

In a show of confidence, financial conglomerate JMMB Group said it intends to grow through acquisitions and would resume paying dividends to shareholders. The M...

Published:Sunday | October 4, 2020 | 12:07 AMSteven Jackson - Senior Business Reporter

Mayberry Investments Limited CEO Gary Peart now presides as executive chairman over large gaming group Supreme Ventures Limited, SVL, but Mayberry’s chairman and SVL director Christopher Berry says it was never their intent to take an active role...

Published:Friday | October 2, 2020 | 12:16 AMSteven Jackson - Senior Business Reporter

Unserviced bank and mortgage loans grew by one-third to $27.9 billion over the span of a year ending June, according to new central bank data. It’s the highest percentage rise in eight years and, as a dollar value, grew by $7.5 billion from $20.4...

Published:Friday | September 25, 2020 | 12:11 AMSteven Jackson - Senior Business Reporter

Rainforest Seafoods will start installing a 1.5-megawatt natural gas power plant in Kingston next week, taking another step towards energy independence. The company will set up three 500-kilowatt turbines that will feed on natural gas. The plant...

Published:Friday | September 25, 2020 | 10:35 AMSteven Jackson - Senior Business Reporter

The Jamaica Stock Exchange’s Main Index, when mapped on a chart, shows the formation of the largest bearish pattern in 25 years. The formation, which takes the classic head-and-shoulder shape of a market in transition, shows Jamaican stocks...

Published:Sunday | September 20, 2020 | 6:30 AMSteven Jackson - Senior Business Reporter

Jamaica Energy Partners, JEP, an operator of power plants and producer of electricity, is considering entering the electric vehicle charging market. “Our group, having started the listed operations in the Dominican Republic, entry into Panama and...

Published:Friday | September 18, 2020 | 12:13 AMSteven Jackson - Senior Business Reporter

Caribbean Cement Company Limited may resume cement exports to the region, but says if it does, it won’t be at the expense of the Jamaican market. The cement producer supplies the bulk of the local market from its production facility at Rockfort in...

Published:Friday | September 18, 2020 | 12:10 AMSteven Jackson - Senior Business Reporter

Productive Business Solutions, PBS, which sells printers, scanners and security devices, continues to shift towards technology services, with contracts from a major American retailer to add internet connectivity to supermarkets in five countries...

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