Sun | Dec 5, 2021

Stories by Karena Bennett - Business Reporter

Published:Friday | May 28, 2021 | 12:16 AMKarena Bennett - Business Reporter

GraceKennedy Financial Group Limited, GKFG, is in discussions with a business that for now is only being described as a “large operator in the Caribbean”, as a potential partner in Scotia Insurance Eastern Caribbean Limited, SIECL, a new...

Published:Friday | May 21, 2021 | 12:12 AMKarena Bennett - Business Reporter

Jamaica’s coffee producers want to grow crop yields by 35 per cent over the next four years, and thereafter double production volumes to 500,000 boxes of beans by 2030, with the aim of capitalising on the growing market for specialty coffee. The...

Published:Sunday | May 16, 2021 | 12:07 AMKarena Bennett - Business Reporter

Telecommunications provider Cable...

Published:Friday | May 14, 2021 | 8:09 PMKarena Bennett - Business Reporter

Evergo Jamaica, through its parent company InterEnergy Group Limited, is investing roughly $150 million in the rollout of 60 electric vehicle charging stations across Jamaica by year-end. The company has already installed four charging stations in...

Published:Friday | May 14, 2021 | 12:09 AMKarena Bennett - Business Reporter

Food distributor Everything Fresh Limited, EFresh, has launched a snack line following a review of its business, which produced losses of $181 million for year ending December 2020. Concurrently, the company is finalising plans to exit at least...

Published:Friday | May 14, 2021 | 12:09 AMKarena Bennett - Business Reporter

Housing developer West Indies Home Contractors Limited, WIHCON, is pumping funds into research and development around prefabricated steel and container homes as more affordable options for homebuyers at the mid- to lower end of the residential...

Published:Friday | May 7, 2021 | 12:27 AMKarena Bennett - Business Reporter

Courier company Mailpac Group Limited wrapped up 2020 with earnings of $443 million on revenues of $1.7 billion, levels the company did not expect to reach until a year or two from now. Mailpac, which listed on the junior stock market in late 2019...

Published:Sunday | May 2, 2021 | 12:16 AMKarena Bennett - Business Reporter

Jamaican Teas is coming to market with an instant turmeric-ginger tea mix in July, amid growing demand for the active ingredient in turmeric, curcumin, which has been proposed as a potential treatment for COVID-19. The health-driven demand for...

Published:Sunday | April 25, 2021 | 12:18 AMKarena Bennett - Business Reporter

A plan to install disinfection mats at the ports to keep the Tropical Race 4 disease, TR4, at bay, remains on the to-do list of the special task force set up to execute it, more than a year later. The delay, said General Manager of the Banana Board...

Published:Thursday | April 1, 2021 | 12:17 AMKarena Bennett - Business Reporter

Jamaica’s electric vehicle market, and the ecosystem to drive it, is still in its infancy, but Stewart’s Auto Sales is moving to test the country’s readiness for full-EVs with the Jaguar I-Pace, one of which it sold to the British High Commission...

Published:Friday | March 26, 2021 | 12:14 AMKarena Bennett - Business Reporter

The disaster readiness component of Jamaica’s Global Services Sector Project, or GSS Project, which is intended to allow for quick responses to events like COVID-19, has been slowed, due to a “weak” report from a consultant. The consultant was not...

Published:Friday | March 26, 2021 | 12:13 AMKarena Bennett - Business Reporter

The Ministry of Industry, Investment and Commerce, MIIC, is working with both private- and public-sector interests on the development of a secondary market for confiscated property, an initiative that at its core is meant to unlock capital for...

Published:Thursday | March 25, 2021 | 7:39 AMKarena Bennett - Business Reporter

Petroleum marketing company Future Energy Source Company, which trades as Fesco, hopes to raise $400 million from stock market investors in exchange for a 20 per cent stake in the company. Fesco’s updated prospectus for its initial public offering...

Published:Sunday | March 21, 2021 | 12:07 AMKarena Bennett - Business Reporter

Coffee processor Salada Foods Jamaica Limited is weighing price increases for its instant coffee products, one of at least five measures the company is pursuing to combat the expected fallout in earnings from the revision of its coffee blend to...

Published:Sunday | March 7, 2021 | 12:13 AMKarena Bennett - Business Reporter

Plastic drinking straws should be off the market by mid-year, but Jamaican manufacturers say they have identified a loophole that gives juice importers an advantage and which they are urging Government to plug before the third phase of the ban is...

Published:Friday | March 5, 2021 | 12:11 AMKarena Bennett - Business Reporter

Trinidadian John deSilva has been hired to run Lasco Distributors Limited, closing the vacancy for managing director that had been open for nearly two years. DeSilva, who took office on March 1, eases deputy executive chairman James Rawle of his...

Published:Sunday | February 28, 2021 | 12:20 AMKarena Bennett - Business Reporter

Jolted by the pandemic, insurance brokerage Caribbean Assurance Brokers Limited, CAB, has pumped funds into new software and is building out an online platform that it intends to position as its primary conduit for doing business. The transition...

Published:Friday | February 26, 2021 | 12:18 AMKarena Bennett - Business Reporter

At over 65 years old and with commerce going through a transition, Jamaica’s trade law is due for a makeover and the Ministry of Industry, Investment and Commerce, MIIC, has begun the search for a consultant to lead the review. Bidding on the...

Published:Sunday | February 14, 2021 | 12:19 AMKarena Bennett - Business Reporter

The associations that speak for payday lenders, Jamaica Micro Financing Association, or JamFA, and the Jamaica Association for Micro Financing, known as JamFin, are heading into more talks this week to reinforce their message to members – that some...

Published:Sunday | February 14, 2021 | 12:13 AMKarena Bennett - Business Reporter

A project between the Government of Jamaica and the International Labour Organization, or ILO, which is intended to shift businesses and workers in three sectors into the formal economy, has so far made progress on two – agriculture and fishing....

Published:Friday | February 12, 2021 | 12:31 AMKarena Bennett - Business Reporter

Edgar Bobby Stone hung up his hat as a procurement manager at the GraceKennedy food and financial services group in 2014 to become his own boss as the owner of Jamaica’s fourth corrugated box making company. Venturing into business is risky, so...

Published:Sunday | February 7, 2021 | 12:12 AMKarena Bennett - Business Reporter

The Financial Services Commission, FSC, has warned the public against investing funds with Sprint Financial Services, saying the company owned and operated by CEO Christopher Barrett does not hold a securities licence. The company has operated as a...

Published:Thursday | February 4, 2021 | 6:04 PMKarena Bennett - Business Reporter

Signalling continued commitment to its most tumultuous market, Jamaica Broilers Group Limited, JBG, promoted a local from within as general manager, while continuing to plot the turnaround of its Haitian operation amid the pandemic and continuing...

Published:Sunday | January 31, 2021 | 8:52 AMKarena Bennett - Business Reporter

Directors of Palace Amusement, Douglas Graham and Melanie Graham are hopeful that the release of more attractive movies over the latter half of 2021 will pull Jamaicans back their cinemas, but in the meantime, they have re-entered discussions with...

Published:Sunday | January 24, 2021 | 12:10 AMKarena Bennett - Business Reporter

Tax Administration Jamaica says it will be forgoing a little over $1 billion in revenues annually to facilitate a special income tax credit of $375,000 to entrepreneurs falling within the micro, small and medium-sized enterprises, or MSMEs. The...

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