Sat | Nov 27, 2021

Stories by Huntley Medley/Associate Business Editor

Published:Wednesday | November 24, 2021 | 12:09 AMHuntley Medley/Associate Business Editor

Bank of the Jamaica, BOJ, which houses the prime contact office that spearheads Jamaica efforts to bring the country’s laws in line with the global regime on anti-money laundering and countering the financing of terrorism, or AML/CFT, regime, has...

Published:Wednesday | November 17, 2021 | 12:11 AMHuntley Medley/Associate Business Editor

As real estate developers attract increasing attention for the possibility of money laundering activities, there is an emerging difference of opinion on whether this segment of the real estate industry is covered in the existing anti-money...

Published:Wednesday | October 27, 2021 | 3:12 AMHuntley Medley/Associate Business Editor

On the heels of an endorsement of its portfolio company Barita Investments Limited by the Trinidad and Tobago finance minister, Colm Imbert, investment holding company Cornerstone is commenting for the first time on its relationship with...

Published:Wednesday | October 20, 2021 | 12:06 AMHuntley Medley/Associate Business Editor

With the intention of changing the Montego Bay skyline to boast more modern high-rise residences to rival the real estate construction boom taking place in Kingston, businessman Manoj Ramchandani, who is based in the western city, has delivered on...

Published:Wednesday | October 13, 2021 | 12:08 AMHuntley Medley/Associate Business Editor

Jamaica is unlikely to be taken off several international lists that have tagged the country as being non-compliant with the global anti-money laundering and combating the financing of terrorism, or AML/CFT regime, unless issues now before the...

Published:Wednesday | October 6, 2021 | 12:06 AMHuntley Medley/Associate Business Editor

Amid output recovery in the June quarter and quick on the heels of the central bank’s rate hike, ratings agency Standard & Poor’s Global 

Published:Wednesday | August 11, 2021 | 12:09 AMHuntley Medley/Associate Business Editor

Two meetings of groups of creditors of indebted Ocho Rios attraction Mystic Mountain Limited, MML, held during the past week, have failed to resolve issues related to whether the beleaguered company will be declared bankrupt and its assets sold off...

Published:Wednesday | August 4, 2021 | 12:11 AMHuntley Medley/Associate Business Editor

Creditors of indebted Ocho Rios attraction Mystic Mountain are scheduled to meet today in a bid to change the trustee in bankruptcy named last month by Mystic Mountain Limited, MML, as part of a proposal to settle nearly US$14 million, or...

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

Dr Sherridene Lee, at 33, is a decade into medical practice and two years into health business venture i-doc Concierge Wellness Services Limited, a partnership with colleague Dr Jacqueline Chambers. Now the western Jamaica-based doctors, with the...

Published:Wednesday | July 7, 2021 | 12:09 AMHuntley Medley/Associate Business Editor

In the aftermath of Sagicor Group Jamaica’s announcement of a US$100-million acquisition of a major stake in the LNG power plant that fuels the Jamalco alumina refinery, one of its analysts is recommending renewable energy and infrastructure assets...

Published:Wednesday | June 30, 2021 | 12:11 AMHuntley Medley/Associate Business Editor

Starting Thursday, July 1, all international business companies, or IBCs, registered in the popular offshore jurisdiction of St Lucia, will be governed by a new, less favourable regime, including higher income taxes and less confidentiality. It’s...

Published:Wednesday | June 23, 2021 | 12:09 AMHuntley Medley/Associate Business Editor

There is no letting up of the financial turbulence pummelling regional carrier Caribbean Airlines Limited, CAL, which this week reported continued financial haemorrhaging, with a first-quarter loss of TT$172.7 million (US$25.7 million). The loss is...

Published:Wednesday | June 16, 2021 | 12:10 AMHuntley Medley/Associate Business Editor

Former Prime Minister Bruce Golding is of the view that despite the existence of the Council for Trade and Economic Development, COTED, the Caricom bloc, as currently structured, lacks an appropriate administrative mechanism to resolve the...

Published:Wednesday | June 9, 2021 | 12:08 AMHuntley Medley/Associate Business Editor

Investments, insurance and private pension funds regulator, the Financial Services Commission, FSC, is warning that more pension funds may fold from the adverse impact of the ongoing COVID-19 pandemic. In its recently released review of the...

Published:Wednesday | May 26, 2021 | 12:09 AMHuntley Medley/Associate Business Editor

Approximately $210 billion in loan payments have been affected by extensions and moratoriums since last year, as the pandemic punched a hole in the economy and curtailed the ability of consumers and businesses to service bank debts. Loans on...

Published:Wednesday | May 19, 2021 | 12:12 AMHuntley Medley/Associate Business Editor

Two million ordinary shares of Guardian Holdings Limited, GHL, have been placed on the market for purchase by Jamaican investors, by NCB Global Holdings Limited, the vehicle through which the shares are held by NCB Financial Group Limited. The sale...

Published:Wednesday | May 19, 2021 | 12:07 AMHuntley Medley/Associate Business Editor

Having made a significant foray into property development with three residential high-rises in Kingston in the past four years, Guardian Life Limited, GLL, has bought up more real estate for future projects. President of the GLL, Eric Hosin, has...

Published:Wednesday | April 28, 2021 | 12:11 AMHuntley Medley/Associate Business Editor

The last three months of 2020 saw growth in loans available to micro and small businesses, even as credit conditions tightened for larger firms. As bad debt ballooned to more than $29 billion, with another $62 billion the subject of payment...

Published:Wednesday | April 14, 2021 | 5:38 AMHuntley Medley/Associate Business Editor

While Jamaica’s financial system received a passing grade from the most recent report that gave it a health check, two banks and a securities dealer were said to have breached their minimum regulatory markers when hypothetical but possible adverse...

Published:Wednesday | April 7, 2021 | 12:20 AMHuntley Medley/Associate Business Editor

Following a March 30 assessment of the Jamaican financial sector in 2020, the central bank-led Financial System Stability Committee, FSSC, pronounced that the system is stable, at least for the short term. However, the committee, a statutory body...

Published:Wednesday | March 24, 2021 | 12:06 AMHuntley Medley/Associate Business Editor

A new basic consumer foods brand called ValuTree has hit the market, under partnership between the year-old trading, distribution and trade finance company Rerum Trading Limited and condiments producer Spur Tree Spices. The new brand is gunning for...

Published:Wednesday | March 17, 2021 | 12:14 AMHuntley Medley/Associate Business Editor

It’s been a decade since the Jamaica operation for Sagicor last saw net earnings this low, within the $4-billion range, but the rout is unlikely to be repeated this year; the group having already stripped itself of the hotel holdings that have been...

Published:Wednesday | March 17, 2021 | 12:07 AMHuntley Medley/Associate Business Editor

Sebastian Tickle, the former global head of operation and partnership development at business process outsourcing company Smart Solutions, has left to head up an outfit, in the same industry, that he co-owns with an American partner. He is now...

Published:Wednesday | March 10, 2021 | 12:17 AMHuntley Medley/Associate Business Editor

The creation of a new integrated IT platform for the safe sharing of bank supervision information between the Bank of Jamaica, BOJ, and the deposit-takers that it regulates will get under way later this year. But in the meantime, the central bank...

Published:Wednesday | March 3, 2021 | 12:17 AMHuntley Medley/Associate Business Editor

There have been ample indications of the formidable challenges to the heavily tourism and hospitality skewed investment holdings of Sagicor Real Estate X Fund Limited under the pandemic. But its newly released financials showing a $9.99-billion...

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