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Stories by Huntley Medley - Associate Business Editor

Published:Wednesday | November 30, 2022 | 12:06 AMHuntley Medley - Associate Business Editor

The central bank is not joining the emerging school of economic thought that has floated the adjustment lowering of inflation targets as a realistic response to the current prolonged period of higher inflation. The Jamaican monetary authority has...

Published:Friday | November 25, 2022 | 12:12 AMHuntley Medley - Associate Business Editor

Having fattened its balance sheet by almost $20 billion more in assets over the financial year ending September, stockbroking and investment management house Barita Investments Limited appears set press to ahead on the buildout of the property bank...

Published:Sunday | November 20, 2022 | 12:07 AMHuntley Medley - Associate Business Editor

Lending rates are expected to continue on an upward trajectory as the central bank on Friday tacked on another half a point to its policy rate that influences interest rates in the banking system, where loan rates have tended to respond to policy...

Published:Friday | November 18, 2022 | 5:51 AMHuntley Medley - Associate Business Editor

The eyes of market watchers and the investing and business community are keenly fixed on Bank of Jamaica, BOJ, for its latest monetary policy decision today as the central bank pursues the corralling of inflation back to its target range of 4.0 to...

Published:Wednesday | November 16, 2022 | 12:09 AMHuntley Medley - Associate Business Editor

There is yet no immediate end in sight for continuing litigation involving the bankrupt Mystic Mountain Limited, MML, despite the Supreme Court ruling last week that receiver Wilfred Baghaloo can go ahead with the planned sale of assets of the...

Published:Friday | November 4, 2022 | 12:11 AMHuntley Medley - Associate Business Editor

Supreme Court Justice David Batts is to hand down his decision this morning in the contentious legal tussle in which the majority shareholders in Mystic Mountain Limited, MML, the bankrupt company that owns the Mystic Mountain attraction in Ocho...

Published:Friday | October 21, 2022 | 12:09 AMHuntley Medley - Associate Business Editor

The jury is still out on what monetary policy cue the central bank will take from the macroeconomic numbers for September released by the Statistical Institute of Jamaica, Statin, this week. For now, the Bank of Jamaica, BOJ, is pleased with what...

Published:Friday | October 14, 2022 | 12:40 PMHuntley Medley - Associate Business Editor

Some used-car dealers, hardware merchants, and real estate agents and developers are again being singled out as facilitators of breaches of the million-dollar limit for cash transactions in Jamaica, and possibly participating in, or at least...

Published:Friday | October 7, 2022 | 6:40 AMHuntley Medley - Associate Business Editor

Regional political and economic observers say it is possible that a new slate of vice-presidents could emerge after the dust settles from the process now in train to elect a new president of the Inter-American Development Bank after American...

Published:Friday | September 30, 2022 | 12:07 AMHuntley Medley - Associate Business Editor

Barita Investments Limited has pumped another $1.3 billion into its real estate portfolio, concluding late last month another major property acquisition – the nearly 1,000-acre Green Castle Estate on the St Mary coastline, adding to the stock...

Published:Friday | September 23, 2022 | 12:10 AMHuntley Medley - Associate Business Editor

The stage is set for a possible showdown involving the Nigel Clarke-chaired board of governors of the Inter-American Development Bank and IDB President Mauricio Claver-Carone over an investigation into allegations of impropriety against the IDB president. In...

Published:Friday | August 26, 2022 | 12:12 AMHuntley Medley - Associate Business Editor

Sagicor Group Jamaica Limited, SGJL, could pay up to $6 billion for remittance and cambio business Alliance Financial Service Limited, AFSL, which it acquired in April this year, having signalled in February its intention to do so. The acquisition...

Published:Sunday | August 21, 2022 | 12:13 AMHuntley Medley - Associate Business Editor

Bank of Jamaica officials expect the construction and housing sector to be negatively affected by rising mortgage rates but say there is no fallout yet in the market that has been red hot since the pandemic, with housing prices and valuations...

Published:Friday | August 19, 2022 | 12:12 AMHuntley Medley - Associate Business Editor

RA Williams Distributors is moving into new, bigger space and is beefing up corporate governance with new board appointments, as it weighs its growing capital needs and how to satisfy it. The pharmaceutical distribution business, which is based in...

Published:Friday | August 12, 2022 | 9:42 AMHuntley Medley - Associate Business Editor

The Sagicor Group’s real estate and hospitality investment vehicle Sagicor Real Estate X Fund Limited, is reporting improved financial performance for the six months to June, with net profit of $110 million, a turnaround from its more than $47-...

Published:Friday | August 5, 2022 | 12:10 AMHuntley Medley - Associate Business Editor

Business interests advocating for the redevelopment of downtown Kingston and other urban centres say they are still awaiting word from the government on the promised redesign of the programme of tax incentives to encourage the renewal of blighted...

Published:Friday | July 29, 2022 | 12:11 AMHuntley Medley - Associate Business Editor

The Jamaica Chamber of Commerce, JCC, is pitching a plan to incorporate a company that is to become the self-financing administrative and project implementation arm of a proposed public-private partnership, or PPP, to drive the redevelopment plans...

Published:Friday | July 22, 2022 | 12:13 AMHuntley Medley - Associate Business Editor

Even as residents of the upscale Freeport area of Montego Bay are said to be fundraising among themselves to finance what could turn out to be a multi-million-dollar legal battle against the construction of the planned Dreams hotel and car park in...

Published:Friday | July 15, 2022 | 12:10 AMHuntley Medley - Associate Business Editor

Development projects already approved by the National Environment and Planning Agency, NEPA, will not be affected by the more than two month-long review which the environmental regulator has just completed for the the Dream hotel planned for...

Published:Friday | July 15, 2022 | 12:10 AMHuntley Medley - Associate Business Editor

Residents of Montego Freeport are said to be huddling with their lawyers as they consider their options to stop or slow the construction of the 281-room Dreams hotel, which the National Environment and Planning Agency, NEPA, announced this week had...

Published:Friday | July 1, 2022 | 12:09 AMHuntley Medley - Associate Business Editor

Environmental regulator National Environment and Planning Agency, NEPA, has responded to an ultimatum from a Montego Bay Freeport residents’ association, making it clear that the state agency will not require the developer of the planned 11-storey...

Published:Friday | June 24, 2022 | 12:11 AMHuntley Medley - Associate Business Editor

Minister of Industry, Investment and Commerce Aubyn Hill has remained mum on an apparent shake-up of state agencies under his portfolio, despite having ended the employment of the long-standing and highly respected chief executive of the Companies...

Published:Friday | June 17, 2022 | 12:08 AMHuntley Medley - Associate Business Editor

European Union nations were set to vote today, Friday, on whether to confirm a proposed directive to impose a global minimum corporate tax of 15 per cent, starting January 1, 2023, in a bid to stop big multinationals from changing the location of...

Published:Friday | June 17, 2022 | 12:08 AMHuntley Medley - Associate Business Editor

The government looks set to merge two state-run development finance institutions in what sources say is a shake-up of entities within the investment and commerce portfolio under which they fall, by the responsible minister, Aubyn Hill. Talks are...

Published:Friday | June 10, 2022 | 12:10 AMHuntley Medley - Associate Business Editor

The Mystic Mountain attraction has been put up for sale in a bid to raise funds to pay its bondholder, Sky-High Holdings Limited, which has still not recouped its $1.3-billion investment after several court battles and bankruptcy proceedings that...

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