Amid the emergence of new rivals and an economy pressured by the pandemic, Supreme Ventures Limited, which trades as SVL Group, saw a decline in both net lottery sales revenue and group profit in the March quarter. But the company, whose dominance...
Finance Minister Dr Nigel Clarke is calling for more public-private partnerships to help Jamaica navigate away from what he calls the black hole of a looming regional debt crisis. Citing the latest IMF World Economic Outlook, released earlier this...
Preowned car dealer Jetcon Corporation, which turned to discount deals and inducements to get cars off their lots and grow its way back from losses sustained under the pandemic, says the strategy has paid off so far in increased market share. The...
Victoria Mutual Group has come through the first year of the pandemic with record earnings, and is looking to technology to build on the near 24 per cent profit growth recorded in 2020. The mortgage lender has launched a new fintech arm, VM...
W ith more than two thousand participating companies so far, the e-commerce platform that kept food companies and other retailers connected to customers during the three-week soft lockdown to bend the COVID curve, is soon to broaden its footprint...
Medicinal hemp producer Virtudes and Jamaican luxury skincare company Morgan’s Creek inked a partnership agreement that sees Virtudes becoming the main supplier of distilled cannabidiol, CBD, to the beauty brand. Morgan’s Creek recently moved into...
With a cassava farm fully planted and supply contracts in hand from small farmers, seafood processor Rainforest is looking to export bammies, a food item that is most often paired with fish. It’s just one of the non-seafood products that the...
One of the ‘founding fathers’ of Wisynco Group Limited, Joseph Mitchell Mahfood, passed away at his home in St Andrew about 3 a.m. on Thursday. He was 78. William Mahfood, chairman of the Wisynco...
The cost of freight has increased since the full onset of the COVID-19 pandemic, especially shipments from China that the business community says have tripled due to logistical bottlenecks. Trade out of China, and Asia generally, has been impacted...
M anufacturing and distribution company Seprod Limited got innovative during the pandemic, putting out new products, developing new partnerships, and reshaping aspects of the business. Having cauterised the loss-making side of the operation, sugar...
The mega US$1 billion mega-resort being developed by Karisma Hotels Group in the garden parish of St Ann is on hold, with the hotel company and Jamaican officials putting the blame for the delay on the coronavirus. Karisma aims to build 10 hotels...
NCB Financial Group’s profits fell 34 per cent in the December quarter, which Deputy CEO and group head of finance Dennis Cohen attributed to a fall-off in asset prices and compressed margins as revenues slowed. NCB Financial shed nearly $2 billion...
Supreme Court Justice David Batts has given himself nearly four months to decide whether to appoint a receiver to locate any assets and wind up Arc Systems Limited, after hearing final arguments o Wednesday in the years-long case brought by...
JSE CAPITAL MARKETS CONFERENCE Jamaican investors interested in the American financial market are being urged to be cautious in their investment decisions, even as recent market activity has been bullish. Gregory Fisher, Managing Director...
Beer maker Red Stripe Jamaica is pulling back from its farming venture, Project Grow, after five years, reducing both the acreages of cassava under its direct control as well as those farmed under contract, and has already shuttered three farms....
Tea and other consumer products manufacturer, Jamaican Teas Limited, which has branched out into retail, real estate and other investments, is reporting a near $70-million loss on group activities for the year ending September 30, 2020. This is...
Another company has joined the growing list of firms seeking to cash in on the local electronic payment solutions business. Local tech firm Mobile Edge Solutions, MES, has launched what it is touting as a “robust and customisable” online platform,...
Listed stockbroker and investment house Barita Investments Limited blew past the $2 billion mark in profits, its 2020 year-end financials show. For the year ending September 30, 2020, Barita posted net profits of $2.7 billion, just over $1 billion...
Listed coffee-processing company Salada is giving greater focus to growing its export business after experiencing a year-end profit decline. In its September 2020 year-end results, the company revealed that net profit was down nearly 22 per, at...
Jamaican businesses, large and small, need to get familiar with the acronym BEC. Business email compromise is a growing cyber menace under which attacks were growing 200 per cent up to two years ago, with 2020 levels set to surpass that, according...
The Jamaica Urban Transit Company, JUTC, is a step closer to having a diversified fleet after a near one-year pilot of running some buses on liquefied natural gas, or LNG. General Manager Paul Abrahams says the five buses in the pilot operating out...
Industrial Gases Limited, IGL, is sole local producer of medical-grade oxygen distributed to the health sector and food-grade nitrogen distributed mostly to drinks manufacturers or otherwise used in food processing, and continues to dominate the...
As Jamaica waits for an upgrade in its status as a potential hotspot for money laundering and terrorism financing, the senior legal counsel at the Bank of Jamaica, BOJ, is warning of possible sanctions. Celeste McCalla says Jamaica, which is...
FosRich Company, the sole maker of PVC pipes in Jamaica, is about to add a new production line in order to keep up with demand. The plant, which is less than two years old, has seen a 240 per cent spike in sales in the past nine months amid the...
Technology firm Amber Group has secured a deal with four other Caribbean countries on what it describes as a tech tool for travel authorisation and border management, which includes the capability to track suspect coronavirus cases in quarantine....
