Health insurance providers are reshaping the way they do business to deal with the fallout or exploit opportunities from the COVID-19 pandemic, which they say has not been as harmful to their business as first anticipated. In what they describe as...
With no vaccine or treatment yet developed, there is a lot of ‘guesstimating’ that the COVID-19 coronavirus may be around for at least another year, but more likely two, and that people and systems will have to adjust. That includes the insurance...
Bread maker Consoli-dated Bakeries, which trades as Purity Bakery, racked up $12.49 million in losses last year, despite a six per cent gain in revenues. It represented a near 200 per cent decline in earnings for the company that made a profit of...
FOOD COMPANY Nestlé Jamaica Limited is back in the dairy market as a distributor of whole milk products made on its behalf under a contract- packaging deal with Seprod Limited. The Swiss-owned company had all but exited that line of business more...
In good times when markets are bullish, companies that hold stocks and bonds tend to report solid earnings, but when the market goes south, so can their bottom lines under the much-maligned accounting Rule 9 of the International Financial Reporting...
A picture of mixed fortunes in manufacturing is emerging from the full onset of the COVID-19 pandemic in Jamaica. Amid the layoffs, cost-cuttings and supply chain challenges, and issues with the availability of foreign exchange, President of the...
CARIBBEAN PRODUCERS Jamaica, CPJ, racked up over half-million in losses in the March quarter due to the lockdown of tourism businesses, a sector from which much of its income flows. The COVID-19 pandemic derailed the earnings of the company, coming...
Keith Duncan as CEO of the JMMB Group and president of the Private Sector Organisation of Jamaica (PSOJ) must have had a lot on his mind while in an all-day board meeting last Friday. He is clear, though, of the impact which the deadly coronavirus...
Car-rental companies in Jamaica are facing a serious crush, with at least one medium player looking to shut down operations, and others, big and small, saying that they are barely holding on. The collapse in the vacation market and travel...
SUPREME VENTURES Limited, SVL, has locked down its Acropolis gaming lounge since March 18, when the Government mandated the closure of all lounges and bars. Sports wagering has fallen precipitously, concomitant with the suspension of sporting...
Jamaica’s 25 credit unions will not host annual general meetings (AGMs) during the early stages of the coronavirus crisis, for which they would have needed permission from Registrar of Co-operatives Errol Gallimore. The registrar has taken a...
B usiness continuity insurance will not cover Jamaican companies in the event of losses arising from the effects of the COVID-19 coronavirus. That’s the word from the general insurance sector, while businesses contemplate the likely fallout from...
Berger Paints Jamaica Limited is entering the retail market with a line of its own stores as the paint maker tries to claw back market share and rebuild profits. At one time, Berger was considered to have control of 80-90 per cent of the Jamaican...
Caribbean Producers Jamaica will report back to bondholders Friday on progress made in bringing its financial ratios back into compliance with debt covenants, in a follow up to a meeting held six months ago. CPJ Chairman and interim CEO Mark Hart...
Tech company Amber Group Limited has partnered with National Commercial Bank Jamaica Limited, NCB, on a new mobile wallet called Amber Pay It will be NCBJ’s second mobile payment system; the other being Quisk, which has been on the market for two...
P aramount Trading (Jamaica) Limited has sealed a manufacturing and private labelling services agreement with local fuel marketer Future Energy Source Company Limited, Fesco, for its line of lubricants. The $216-million deal runs for three years...
T wo name brand Jamaican companies, one a food and logistics conglomerate, another a financial group, are holding steadfast to their operations in the United Kingdom, UK, even as the uncertainty persists around trade in the post-Brexit era. The UK...
Seafood exporter B&D Trawling is reeling from the impact of the coronavirus on its Chinese market, and facing the prospect of having to lay off half of his 200 workers, the head of the company says...
Jamaican Teas Limited, JAMT, stumbled to a first-quarter loss of $44 million, despite a 15 per cent improvement in sales. The group’s descent into red flowed from the performance of its spin-off investment company QWI Investments Limited, which...
The number of accounts hosted at the Jamaica Central Securities Depository, JCSD, for stock market investors jumped by more than 48,000 or 30 per cent, largely driven by new market entrants. The numbers also topped 200,000 for the first time –...
The large resort spanning 4,800 rooms to be developed by Karisma in St Ann will also feature a component for luxury residences. The US$1-billion hotel project being developed at Llandovery on Jamaica’s north coast will officially begin...
New suppliers are rushing in to fill the void left by the ban on styrofoam food containers, but the twin burdens of duties payable and ability to service clients consistently are acting as constraints on would-be suppliers. At least one supplier is...
When the board of junior market beverage company Jamaican Teas Limited meets on January 14, the directors will consider two subjects: a possible increase in the authorised share capital of the company and a sub-division of the companies issued and...
Attorneys representing petroleum marketing company Petcom say they are headed to the courts in the aftermath of a large find of cooking gas cylinders belonging to the three largest distributors of liquid petroleum gas (LPG) or cooking gas. Sean...
Troubled airline Fly Jamaica is seeking protection from creditors as it tries to restructure and stay in business or explore other options, such as a sale. That filing for bankruptcy protection with the Office of Insolvency was done on October 29,...
