Jean-Marie Desulme, who came out of retirement to run the PVC manufacturing unit at FosRich at the end of February has exited the company following a review of the management structure. FosRich Company CEO Cecil Foster said the senior consultant,...
Seprod Limited is finally rid of sugar, having wound up the Golden Grove subsidiary at a cost of nearly three-quarters of a billion dollars. The conglomerate had a bittersweet year as a result, with revenue climbing 45 per cent to $32.7 billion,...
FINANCE AND the Public Service Minister Dr Nigel Clarke is defending the adequacy of the Government’s $25-billion stimulus to blunt the fallout sparked by the COVID-19 pandemic. Clarke said that the roll-out of initiatives was a historic and...
Finance and the Public Service Minister, Dr Nigel Clarke, says a re-engagement with the International Monetary Fund (IMF) is not on the cards at this time. He says while the Government has considered all its options in responding to the economic...
Ann-Dawn Young Sang is out as president and CEO of Supreme Ventures Limited amid a reorganisation of the group that she led, and a prospective opening up of the market to new competition. Her departure comes two and a half years after she was...
A sophisticated cyberattack was unleashed on the JN Bank this week sending the financial institution’s cybersecurity team into defence mode as they took swift action to contain the effects of the malware and to identify the source of the onslaught...
The last two months of Jamaica’s winter tourist season are going cold, with arrivals expected to decline by 16 per cent for March as COVID-19 tightens its grip on global travel, says Tourism Minister Edmund Bartlett. April may be worse, Bartlett...
The Jamaica Urban Transit Company (JUTC) and its energy partner are yet to do the analysis, but the bus company is already encouraged by the raw data from the pilot testing of natural gas as a fuel source for its fleet. New Fortress Energy, NFE,...
Sterling Investments Limited, SIL, doubled profit from $53 million to $101 million last year, a record for the company that its operational head, Charles Ross, intends to better this year. It comes amid a doubling of foreign exchange earnings for...
In six months, Sygnus Credit Investments Limited has doubled its portfolio of investments, nearly half of which is deployed in Jamaica. The company’s has made 23 private credit investments valued at US$54.35 million to the period ending December...
Newcomer Sygnus Capital and Sagicor Investments Jamaica have partnered to form a private equity firm that will be unveiled later tonight. The new outfit, called Sygnus Deneb Investments Limited, marks the two companies’ first-time entry into the...
A major infrastructural programme about to be rolled out by the Government will tap into smart technology and be anchored on a rigorous maintenance regime. Prime Minister Andrew Holness yesterday unveiled the Greater Infrastructure Development...
Petroleum marketing company RUBiS has seven days to come up with a full report on a fuel and chemical spill at its Rockfort facility. This comes after a January 7 incident where the roof of a water tank collapsed at the plant. The water tank is...
Main Event Entertainment Group made 29 per cent more in revenue last year, just enough to give the events company a small boost at the bottom line, despite heavy spending. For year ending October 2019, Main Event’s sales were up by $402 million to...
After two decades in the cigarette market, including six years as the top executive of Carreras, Michael Steele is moving on. But he’s not saying what comes next, except that he plans to stay in Jamaica and could end up in another corporate...
The market for liquefied petroleum gas, LPG, as motoring fuel has a third player, Autogas Jamaica Limited, AJL, a St Ann-based company that has emerged from its testing phase and is now fully operational after two years. AJL both retrofits vehicles...
Start-up distributor Bar Central has landed a contract with large conglomerate GraceKennedy (GK) worth $150 million over two years. The unlikely alliance will see two-year-old Bar Central distributing consumer items for 97-year-old GK in bars and...
The adjusted age limit for imported pre-owned vehicles comes after years of lobbying by auto dealers, who say one of the immediate beneficiaries will be the agricultural sector. The older the unit that the market can procure for sale inside Jamaica...
In five years or less, Convenient Brands, the holding company for food franchises controlled by the Mahfood family, plans to build out a number of convenience stores across the Caribbean under the Circle K brand. It’s starting in Jamaica, where two...
Fresh from an aggressive foray into Costa Rica, investment upstart First Rock is targeting a year-end initial public offering to satisfy commitments to its private backers that the real estate company would go public. First Rock is also looking to...
Lifestyle company Pulse Investments Limited, which expanded the hospitality operations at its New Kingston location to include accommodations, more than doubled profits at year ending June. Chairman Kingsley Cooper says Pulse, which operates a...
Thomas Cook, which declared bankruptcy on Monday, was expected to fly 16 charters to Jamaica between now and March 2020, leaving the Ministry of Tourism scrambling to ensure that those vacations aren’t cancelled. “Tourism is a very resilient...
The new owners of Fly Jamaica plan to return the airline to the sky in early September, supported by an expanded fleet of planes that are due for delivery between October and November 2019. Majority owner and CEO Glenn Logan says he and his...
Yaad Man Petroleum has acquired property for $180 million, on which it plans to develop Jamaica’s largest service station. Miguel Smith, who co-founded Yaad Man with his wife, Tanya, says he plans to start construction on a Texaco-branded station...
