Under a regional initiative led by Nestlé, the multinational food company is partnering with six others to hire young people in Jamaica and the Caribbean. Around a thousand jobs, at both entry and professional levels, are expected to be created...
The Bahamas and Trinidad and Tobago have been fingered as the next two Caribbean countries expected to default on their sovereign debt, with widespread repercussions for their economies, populations, creditors and, eventually, the corrective policy...
Kevin Frith has reacquired the assets of Bar Central Limited, a company he founded and later sold majority interest to SSL Venture Capital Jamaica. Two years after the takeover, the fallout in the alcohol trade resulting from the coronavirus...
The one-month extension of the subscription period for the Sygnus Real Estate Finance Limited is to accommodate institutional investors, the company’s representatives said this week. The Sygnus Real Estate initial public offering, which has been...
By November, lighting and electrical company FosRich will commence production of PVC pipes at Hayes, Clarendon, through a subsidiary called Blue Emerald. It’s also making progress on plans to start manufacturing transformers in Jamaica, on behalf...
A doubling of gross premiums at the Trinidad and Barbados subsidiaries of General Accident Insurance Company Jamaica Limited, or Genac, is being taken as a encouraging sign that the entities will not only deliver positive returns soon, but could do...
As Jetcon Corporation’s sales rebound, nearing pre-pandemic levels, the used-car dealer is settling for now on what Managing Director Andrew Jackson calls “a nice formula that works” — the right brands and enticements. In its latest earnings report...
Lubricants company Paramount Trading is looking to household chemicals and manufacturing to ride out the pandemic. Paramount sells its chemicals to heavy or industrial-scale users, says CEO Hugh Graham, who in turn deal with institutions such as...
Cecil Foster originally projected it would take 14 months for his investment in PVC pipe manufacturing to pay off. But the level of demand has been greater than initially forecast, leading his FosRich Company Limited to ramp up capacity, including...
R eal estate investment trust Kingston Properties Limited, also known as KPREIT, is going green to cash in on the growing climate change consciousness. Of the 18 properties in its portfolio, Kingston Properties is retrofitting nine commercial...
The Court of Appeal has rejected a request by Arc Systems Limited to put a hold on the receivership granted by the Supreme Court in May, until its challenge of that ruling is heard. But the company is not ready to give up on that fight. “Our...
Tanker drivers, some waiting from overnight, left the Petrojam refinery loading ramps in a huff at mid-afternoon, after refinery representatives advised they had no more 90 octane gas available. There was no shortage of 87 octane. Representatives...
Miguel Smith Jr is adding another gas station to his holdings, its first in Kingston and the second to operate under the Yaadman brand. He has leased lands from the Jamaica Railway Corporation, JRC, near the Kingston waterfront, for the station – a...
T he top brass at GB Energy, the Dominican Republic-based company that operates Texaco gas stations, flew in for meetings at the top of the week as the company weighs plans to delay capital projects while the local economy recovers. General...
Construction, which is captured as a goods-producing sector in the counting of national output, was a star in the real economy last year. But real estate, which is classified as a service, was unable to match it. Although the number of real estate...
Construction materials company Arc Systems Limited, which was placed in receivership in May, has filed an appeal against the decision and also asked the Court of Appeal to issue a stay on its execution, pending the determination of the case. The...
Clients feeling short-changed when it comes to real estate valuations now have recourse through the newly formed disciplinary committee of the Real Estate Board of Jamaica, REB. The new committee started work in March on the insistence of Andrew...
Hemp company Organic Growth Holdings Inc, OGH, is diversifying into other crops to take advantage of demand. With two shipments of hemp oil, or cannabidiol, to the United States so far – one in April and the first in late 2020 – OGH is looking next...
Victoria Mutual Group, VM, is gunning for one million members by 2025, which would triple its current base, as part of a wider programme to transform and grow the 143-year-old institution and its markets. The group’s ambitions were laid out to...
General Accident Insurance Company gave itself two years to turn around its new Trinidad acquisition, but the pandemic has upended those plans, forcing the company to recalibrate its projections for Motor One that was initially acquired in...
The owners of Jamaica Teas Limited are planning a restructuring of the group to carve out the manufacturing unit, the main component of the business, as a stand-alone entity. The company would then float the manufacturing operation on the stock...
P ortland JSX Limited has cycled back into its investment phase, taking a small stake worth US$52,534 in a Colombian speciality food company on March 4, according to a disclosure in its newly released audited results. In keeping with its alliance...
Supreme Court judge Justice David Batts has placed Arc Systems Limited in receivership, granting the request of Exclusive Holidays of Elegance, a Montego Bay-based business controlled by Fred Smith, which is seeking to recover a debt. Arc System’s...
