On Thursday, the Bank of Jamaica left in place the record low 0.5 per cent policy rate that has been held consistently at that level for two years, but concerns about rising inflation and a potential breach of the 4-6 per cent inflation target...
With three years of operation under its belt, and an estimated US$210 million in annual transactions, payment facilitator WiPay Caribbean is expanding its footprint in Jamaica, with an eye on further market penetration, regionally, including...
Air travel is bouncing back, but some travel-related businesses are still in the throes of the adverse economic impacts of the ongoing COVID-19 pandemic. Airline logistics and support services company Flight Connections Limited, FCL, has gone to...
Minister of Finance Dr Nigel Clarke is bullish about the proposed central bank digital currency, CBDC, that is planned for roll-out around the start of the next financial year in April 2022, after a six-month pilot that is expected to get under...
Veterinary doctors Graham and Katalin Brown have been providing healthcare and nutrition of the highest standard to animals in Jamaica for the past 30 years, driven by a passion and love for nursing our sick, injured, or malnourished furry,...
K enneth Tomlinson of Business Recovery Services Limited has been appointed receiver and empowered by the Supreme Court to recover and distribute the Venezuelan assets in Jamaica — which are mainly monies owed to Caracas and state enterprises — to...
Indebted tourism attraction Mystic Mountain Limited, MML, has proposed to settle its $1.2 billion debt to bondholders on or before August 27 with what it says is a loan now being negotiated with an unnamed financial institution even as official...
Declaring that Digicel is back, CEO of the telecom’s Jamaica operations, Jabbor Kayumov, says the company will be investing US$200 million, or nearly $31 billion, to accelerate the build-out of infrastructure and deployment of new technology over...
Billy Joe ‘BJ’ Foster, a household name in the bauxite industry in Jamaica and around the world, is this year marking 50 years as a staffer and consultant in the sector. The Alabama-born chemical engineer, who has held line responsibilities and...
F or the second time in five years, Noranda Jamaica Bauxite, an operation of American company New Day Aluminum Holdings LLC, has changed ownership. Concord Resources Holdings Limited, a former minority shareholder in New Day Aluminum, which itself...
Industry regulator Betting, Gaming and Lotteries Commission, BGLC, is smiling all the way to the bank, having taken a bigger haul of revenues, bettering its income from the gaming industry since the onset of the pandemic by just under $300 million...
Wayne Gentles, the interim chief executive of medical company GWest Corporation Limited, is promising a financial turnaround for the loss-making firm, whose business is the sale and rental of units at its multistorey Fairview complex in Montego Bay...
The ability of the Jamaican government to finance private-sector and public welfare stimulus packages without resorting to external borrowing, including the non-take-up of special drawing rights allocation from the International Monetary Fund, has...
The central bank announced this week its decision to hold firm the policy interest rate offered to deposit-taking institutions, DTIs, on overnight placements at the Bank of Jamaica, BOJ. The rate remains unchanged at 0.50 per cent per annum in the...
F inancial conglomerate JMMB Group Limited is cash-rich coming out of the first year of the pandemic; deliberately so, according to CEO Keith Duncan and Chief Financial Officer Patrick Ellis. The group’s net profit rose 10 per cent from $7 billion...
N ot all businesses have been hammered by the pandemic. Citibank NA is reporting that its Jamaica business has so far come through the COVID-19 health crisis unscathed, and with growth in revenue and clientèle, even as Citi’s global operations...
Pharmaceutical distributor Indies Pharma Jamaica Limited is reporting progress on the development of two new drugs earmarked for the United States market and says it has worked out kinks in its supplies as it looks to reverse the declines in profit...
Sagicor Group Jamaica Limited, SGJ, is putting up US$100 million ($15 billion) for a large stake in the LNG power plant that fuels the Jamalco refinery at Halse Hall in Clarendon and is owned by natural gas infrastructure developer and operator New...
Regional soap producer Dominica Coconut Products Successors Limited, DCPS, has made good on a threat to head to court in a long-running feud with some Jamaican state agencies and Jamaican manufacturers and exporters of soap. In a suit filed in the...
Seeking the best path to growth, the University of the Commonwealth Caribbean, UCC, has this year formally spun off several business activities into a number of subsidiary companies as part of a strategy it has been developing since last year....
Global pharma company Medimpex has had a relatively good year, growing revenues and profit from the Caribbean region, led by its 42-year-old Jamaican operation. At the height of the pandemic last year, revenues grew by 16 per cent to 3.8 billion...
Gordon Baldie’s plan to build out a car parts remanufacturing and recycling operation in western Jamaica at a cost of just over US$18 million, or about $2.7 billion, won him the Jamaica Stock Exchange pitch competition in 2018. Since then, the...
A mere month into its new independent status and with its core mandate being inflation control, a clause in the newly amended Bank of Jamaica (BOJ) Act has been triggered, requiring the central bank governor to provide the Government with an...
Microlenders now have 14 months to put their affairs in order and register their businesses with the Bank of Jamaica (BOJ) under the Microcredit Act, which was passed in January. At least one entity representing the sector that is said to have $20...
A partnership is taking shape between the University of the West Indies and Bioprist that will see a section of the medical tourism resort complex the company is developing in Montego Bay becoming the home for the western Jamaica campus of the UWI...
