Fri | Jul 30, 2021

Stories by Huntley Medley - Associate Business Editor

Published:Friday | April 23, 2021 | 12:24 AMHuntley Medley - Associate Business Editor

The Mexican operator of Jamaica’s two largest international airports says it has presented to the government what it calls “rebalancing proposals” for the economic recovery of the operations in Montego Bay and Kingston. Pacific Airport Group, GAP...

Published:Wednesday | April 21, 2021 | 12:18 AMHuntley Medley - Associate Business Editor

The insurance industry is undergoing a leadership change, the third within a year, even as it is reporting a raft of challenges, including declining capital ratios and increased vulnerability to financial risks, according to an assessment of the...

Published:Sunday | April 18, 2021 | 12:17 AMHuntley Medley - Associate Business Editor

In a new marker for central banking in Jamaica, the amended Bank of Jamaica Act took effect on Friday, April 16, giving the BOJ full independence to craft policy based on its priorities for the monetary system. On the eve of the new law taking...

Published:Sunday | April 18, 2021 | 12:08 AMHuntley Medley - Associate Business Editor

Two market-dominant liquor companies that are European-owned say they are abiding by the raft of laws and regulations passed by the European Union over the years to ensure not just equal pay for men and women doing similar work, but also...

Published:Friday | April 16, 2021 | 12:18 AMHuntley Medley - Associate Business Editor

Armed with US$30 million in fresh cash from its recent additional share offer, Proven Investments Limited has stepped up its Caribbean build-out of portfolio companies with the outright purchase of Heritage Education Funds International Inc....

Published:Friday | April 9, 2021 | 12:14 AMHuntley Medley - Associate Business Editor

An interim receiver has been appointed by the courts over some Venezuelan assets in Jamaica at the request of ConocoPhillips as part of a long-running, multi-jurisdictional bid by the American oil giant to get compensation for the expropriation of...

Published:Friday | April 9, 2021 | 12:10 AMHuntley Medley - Associate Business Editor

Recognising that one of the greatest risks to the planned roll-out of the central bank digital currency, CBDC, is lack of interest and therefore, slow or no take-up by the public, the Bank of Jamaica, BOJ, is seeking to give assurances that the...

Published:Thursday | April 1, 2021 | 12:09 AMHuntley Medley - Associate Business Editor

The new economic policy oversight body being created as the arbiter of Jamaica’s rules on budgeting and government spending has passed the legislative hurdle but a date for its commissioning is yet to be determined. The bill to enact the...

Published:Friday | March 26, 2021 | 12:18 AMHuntley Medley - Associate Business Editor

Hotel industry representatives are displaying no appetite for a rethink of the positioning of Kingston as a meetings market in the tourism arena even after the dramatic financial fallout that they, like their resort counterparts, have seen from the...

Published:Sunday | March 21, 2021 | 12:36 AMHuntley Medley - Associate Business Editor

Montego Bay-based Bioprist Pharmaceuticals, a company led by medical doctor and entrepreneur Dr Guna Muppuri, has signed a deal for the exclusive importation and distribution in Jamaica of the India-made COVID-19 vaccine Covaxin. Made by Indian...

Published:Sunday | March 21, 2021 | 12:27 AMHuntley Medley - Associate Business Editor

Lottery Supreme Ventures Limited, SVL, through its newly formed financial services subsidiary Supreme Ventures Fintech Limited, is now rolling out its first microcredit product, a loan aimed at its 1,300 retail agents. Starting with a $500,000...

Published:Friday | March 19, 2021 | 12:19 AMHuntley Medley - Associate Business Editor

F or Clement ‘Jimmy’ Lawrence, life after sugar and rum appears to be about more sugar and rum. The recently retired chairman of rum maker and former sugar producer J. Wray...

Published:Friday | March 12, 2021 | 12:15 AMHuntley Medley - Associate Business Editor

It’s been three years since the International Monetary Fund, IMF, recommended that Jamaica devise a more thorough risk-based method of supervising the banking system for a better picture of its financial health, detection of potential or...

Published:Friday | March 5, 2021 | 12:11 AMHuntley Medley - Associate Business Editor

With its acquisition strategy beginning to pay off, gaming and lottery company Supreme Ventures Limited appears to weathered the storm created by the ongoing COVID-19 pandemic, but is facing other headwinds as two new lottery rivals ramp up...

Published:Friday | February 26, 2021 | 12:18 AMHuntley Medley - Associate Business Editor

B ank of Jamaica, BOJ, and other overseers of the financial sector, it appears, will have to recruit staff at a lower scale than they desire, for at least another year, or otherwise delay new hires in circumstances where salary offers are not...

Published:Sunday | February 21, 2021 | 12:18 AMHuntley Medley - Associate Business Editor

The Bank of Jamaica (BOJ) continues to signal confidence in the country’s financial system, and its resilience throughout the ongoing health crisis, but is keeping watch on the health and strength of the loan books in the banking system. Large...

Published:Sunday | February 21, 2021 | 12:13 AMHuntley Medley - Associate Business Editor

Supreme Ventures Limited, SVL, expected its lottery ticket sales to dip at the entry of two new players this month. Instead, it is claiming that sales jumped since the entry of Mahoe Gaming Enterprises Limited and Goodwill Gaming Enterprises...

Published:Friday | February 19, 2021 | 12:15 AMHuntley Medley - Associate Business Editor

Finance Minister Nigel Clarke is questioning the effectiveness of the Government’s tax relief measures under the urban renewal incentive programme, which the leadership of two of the country’s main private-sector umbrella groups and some business...

Published:Friday | February 12, 2021 | 12:31 AMHuntley Medley - Associate Business Editor

The fate of the Mystic Mountain attraction, known for its adrenalin-pumping zip line, roller coaster and ATV buggy rides, now hangs in the balance following this week’s expiration of a 14-day ultimatum to make good on a $1.13-billion debt to...

Published:Sunday | February 7, 2021 | 12:12 AMHuntley Medley - Associate Business Editor

On the same day that a new lottery operator entered its core market last week, gaming company Supreme Ventures Limited, SVL, inked a deal to purchase a 51 per cent controlling interest in microlender McKayla Financial Services, signalling SVL’s...

Published:Friday | February 5, 2021 | 12:13 AMHuntley Medley - Associate Business Editor

Jamaica’s first resident diplomat to India is making the case for the strategic importance of increased trade and investment flows between the two countries on the eve of his departure to take up the post of envoy in the second most populous...

Published:Friday | February 5, 2021 | 12:11 AMHuntley Medley - Associate Business Editor

Blown off its pre-pandemic path to financial recovery, that so far has been elusive, regional carrier Caribbean Airlines Limited, CAL, is on the hunt for funds to keep itself in the air, a US$65-million loan taken out last year having proved...

Published:Friday | January 29, 2021 | 12:23 AMHuntley Medley - Associate Business Editor

A health tourism project slated to be developed in Montego Bay over the next five years is among the plans for enhanced collaboration between Jamaica and India being supported by new High Commissioner Runsung Masakui. The tourism project, estimated...

Published:Sunday | January 24, 2021 | 12:11 AMHuntley Medley - Associate Business Editor

While most commercial banks have sought to curtail the incidence of card theft, cloning, and attempts at unauthorised activation, by ending the distribution of credit and debit cards to their customers using the regular mail service, the urging to...

Published:Sunday | January 17, 2021 | 12:05 AMHuntley Medley - Associate Business Editor

An apparent increase in incidents of theft and cloning or attempted cloning of debit and credit cards sent to bank customers through the mail has led to commercial banks abandoning the Jamaica Postal Service as a method of delivering cards....

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