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Stories by Huntley Medley/ - Associate Business Editor

Published:Wednesday | November 23, 2022 | 12:11 AMHuntley Medley/ - Associate Business Editor

Former Prime Minister P.J. Patterson has called on the leaders of African and Caribbean nations to fashion and ink a free trade agreement that would economically link the countries of the continent with those of the Caribbean subregion....

Published:Wednesday | November 9, 2022 | 12:08 AMHuntley Medley/ - Associate Business Editor

A temporary court injunction that had paused the sale of the assets of bankrupt Mystic Mountain Limited, MML, has been lifted, with receiver Wilfred Baghaloo now able to proceed with the sale of what is essentially purpose-built equipment at the...

Published:Thursday | September 29, 2022 | 12:06 AMHuntley Medley/ - Associate Business Editor

The Bank of Jamaica, BOJ, will make its next monetary policy announcement on Thursday, having already raised by 550 basis points since late September last year, its benchmark policy rate paid on cash which deposit-taking institutions park at the...

Published:Wednesday | August 17, 2022 | 10:12 AMHuntley Medley/ - Associate Business Editor

Barita Investments Limited pumped another $1 billion into MJR Real Estate Holdings Limited between April and June this year, and has started to offer investments in its property fund, its latest financial report shows. The boost to its real estate...

Published:Wednesday | July 13, 2022 | 12:08 AMHuntley Medley/ - Associate Business Editor

Residents and other stakeholders of Montego Bay’s Freeport community are expected to know today, the decision arrived at by the environmental regulator, National Environment and Planning Agency, NEPA, regarding an application by hotel developer...

Published:Wednesday | June 8, 2022 | 12:09 AMHuntley Medley/ - Associate Business Editor

The possibility of legal action now looms over the proposed development of the 11-storey Dreams Resort hotel planned for the Freeport area of Montego Bay by hotel development company Seawind Key Investment Limited, SKIL. Lawyers representing the...

Published:Wednesday | May 18, 2022 | 12:07 AMHuntley Medley/ - Associate Business Editor

Barita Investments, which has been building out a formidable real estate portfolio through an off-book company called MJR Real Estate Holdings Limited, has already spent $9 billion acquiring properties in just over a year since the special purpose...

Published:Wednesday | May 11, 2022 | 12:08 AMHuntley Medley/ - Associate Business Editor

The World Bank Group has mapped out for Jamaica a strategy to increase employment, production, trade and economic growth that focuses on greater investments in the higher-end, valued-added categories of the outsourcing sector, as well as niche...

Published:Wednesday | April 27, 2022 | 12:07 AMHuntley Medley/ - Associate Business Editor

As Jamaica’s surprise candidate for the top Commonwealth administrative job of secretary general, foreign minister Kamina Johnson Smith last week officially launched her candidacy in London, the seat of the grouping’s administrative machinery,...

Published:Wednesday | March 9, 2022 | 12:07 AMHuntley Medley/ - Associate Business Editor

The Inter-American Development Bank, based in Washington, DC, in the United States, is to announce in a week or two who will be named general manager of its Caribbean division, which is run out of Jamaica, when the position formerly held by Therese...

Published:Wednesday | January 26, 2022 | 9:14 AMHuntley Medley/ - Associate Business Editor

Alliance Financial Services Limited, AFSL, has failed in its bid to have the suspension of its cambio and remittance licences lifted while it fights the action taken by the central bank in court. The Bank of Jamaica, BOJ, suspended the licences in...

Published:Wednesday | January 19, 2022 | 12:10 AMHuntley Medley/ - Associate Business Editor

Natural gas supplier New Fortress Energy Inc, NFE, has changed direction on financing around its power plant at the Jamalco complex, but the reason for the switch, which comes seven months after the fundraising plan was first announced, is still...

Published:Wednesday | January 5, 2022 | 12:09 AMHuntley Medley/ - Associate Business Editor

Investment company Cornerstone must change its holding company arrangements to conform with the law governing the regulation of its licensed deposit-taking subsidiary Cornerstone Merchant Bank, CMB, by the Bank of Jamaica. Jamaica-registered...

Published:Wednesday | November 3, 2021 | 12:08 AMHuntley Medley/ - Associate Business Editor

A year ago, in the midst of the COVID-19 pandemic, then 31-year-old entrepreneur and computer programmer Kareem Jennings diversified his party-promoting and printing business, launching The PLUG online platform designed to drive sales and improve...

Published:Wednesday | September 29, 2021 | 2:43 AMHuntley Medley/ - Associate Business Editor

Eden Gardens, the small Kingston hotel, events location and one-time home of a suite of businesses owned and operated by entrepreneur and researcher Dr Henry Lowe, has been sold amid a boom in real estate development for upscale housing in the area...

Published:Wednesday | September 8, 2021 | 12:07 AMHuntley Medley/ - Associate Business Editor

Proven Investments Limited, PIL, announced to the market on Monday that it has sold its 20 per cent stake in Dream Entertainment, a business that has attracted some controversy following the recent staging of its signature annual event, the Dream...

Published:Wednesday | September 1, 2021 | 12:07 AMHuntley Medley/ - Associate Business Editor

National Commercial Bank Jamaica Limited, NCB, has set November as the date for the public roll-out of its digital currency wallet to retail the CBDC, which is backed as legal tender by the Bank of Jamaica. The public roll-out will follow tests...

Published:Wednesday | May 12, 2021 | 12:09 AMHuntley Medley/ - Associate Business Editor

Financial conglomerate Sagicor Group Jamaica, SGJ, has turned the page on a crisis-hit 2020 with improved results for the quarter ending March, a performance that President...

Published:Wednesday | April 28, 2021 | 12:26 AMHuntley Medley/ - Associate Business Editor

Despite the uncertainties visited on the economy by the pandemic, the Government has made no change in the inflation target, which the central bank has been mandated to achieve as a key part of its core monetary policy responsibilities under the...

Published:Wednesday | April 28, 2021 | 12:07 AMHuntley Medley/ - Associate Business Editor

As it marks 16 years of operation, regional rating agency CariCRIS is setting up shop in Jamaica, a move that signals growing business for the company that is part-owned by regional central banks, several major regional commercial and development...

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