Sat | Jun 19, 2021

Stories by Steven Jackson - Senior Business Reporter

Published:Wednesday | June 16, 2021 | 2:56 PMSteven Jackson - Senior Business Reporter

More than half of the stock market companies in Jamaica utilise the ‘Big2’ accounting firms – Pricewaterhouse Coopers and KPMG – which the Fair Trading Commission (FTC) said reflects their large market power. Between 2013 and 2018, some 353 audits...

Published:Sunday | June 13, 2021 | 12:07 AMSteven Jackson - Senior Business Reporter

MPC Caribbean Clean Energy Limited and its partners plan to double the power generating capacity at its solar plant in Dominican Republic, a new asset for which the acquisition deal is expected to close by next quarter. The Monte Plata solar plant...

Published:Friday | June 11, 2021 | 12:13 AMSteven Jackson - Senior Business Reporter

Airport food service provider Express Catering Limited, ECL, will open a series of new restaurants at Sangster International Airport in Montego Bay, for which US$4 million ($600 million) of financing was secured towards the end of last year. ECL’s...

Published:Sunday | June 6, 2021 | 12:06 AMSteven Jackson - Senior Business Reporter

The cost of owning electric vehicles, or EVs, hovers at about 10 per cent higher than petrol-powered cars, which creates a barrier for their adoption in Jamaica, according to a recent document published by power utility watchdog Office of Utilities...

Published:Friday | May 28, 2021 | 12:16 AMSteven Jackson - Senior Business Reporter

The pandemic-induced shift towards digital transactions has resulted in a dramatic decline in the usage of cheque to pay for goods and services for the first two months of this year, to nearly half the levels of previous periods. The decline...

Published:Friday | May 28, 2021 | 12:15 AMSteven Jackson - Senior Business Reporter

Jamaica dropped to third spot in the Playa group, having been overtaken by Dominican Republic in the first quarter of 2021. After disposing of two resorts in Jamaica amid the pandemic, revenue from that market for Playa Hotels...

Published:Sunday | May 23, 2021 | 12:08 AMSteven Jackson - Senior Business Reporter

Poultry prices are up due to higher commodity grain prices, says Jamaica Broilers Group President and CEO Christopher Levy. “We have seen a run-up in price of corn and soy to seven-year highs, and that’s a straight pass-through,” said Levy at the...

Published:Friday | May 21, 2021 | 12:10 AMSteven Jackson - Senior Business Reporter

Remittance inflows to Jamaica for the first two months of this year were up nearly 30 per cent, outpacing the growth among some of its regional peers. Inflows in January were estimated at $241 million, and were slightly lower at $235.9 million in...

Published:Friday | May 7, 2021 | 12:28 AMSteven Jackson - Senior Business Reporter

Investors are queuing up for shares in Guardian Holding Limited, GHL, now relisted on the Jamaica Stock Exchange after a near eight-year hiatus, and although no trades were successful, the stock is already trending one-third higher than the price...

Published:Sunday | April 25, 2021 | 12:14 AMSteven Jackson - Senior Business Reporter

British shoe company Clarks has launched a dancehall campaign aimed in part at reconnecting with “cult” consumers, as a way to regain lost sales. “We have lost connection with the main customers and accounts in our key wholesale markets,” said now...

Published:Wednesday | April 21, 2021 | 12:05 AMSteven Jackson - Senior Business Reporter

Marigold Jamaica, which operates a herb house in Kingston, has bought out its Canadian partner Aphria for an undisclosed sum, market filings show. “We parted ways with Aphria,” Lloyd Tomlinson, principal owner of Marigold, confirmed in an interview...

Published:Friday | April 16, 2021 | 12:16 AMSteven Jackson - Senior Business Reporter

Angella Rainford, the businesswoman who conceptualised and led the development of Jamaica’s largest solar farm at Paradise Park in Westmoreland, has set up a new venture, Soleco Energy Limited, to fund solar power solutions for companies in the...

Published:Sunday | April 11, 2021 | 12:05 AMSteven Jackson - Senior Business Reporter

The Bank of Jamaica, BOJ, has again raised concerns about the LUMI, a largely concept currency issued by the African Kingdom that circulates in both physical and digital format. “Specifically, the ‘AKL LUMI’, which is purported to be currency and...

Published:Friday | January 15, 2021 | 12:08 AMSteven Jackson - Senior Business Reporter

Jamaica’s potential oil reserves are now closer to tenfold the level of previous estimates, according to the latest detailed study, but the ministry in charge of energy argues that the findings are still preliminary and it’s therefore premature to...

Published:Friday | January 15, 2021 | 12:07 AMSteven Jackson - Senior Business Reporter

Ehave Inc, a North American listed company which offers magic mushroom and ketamine services, announced that it elected Jamaica’s Mark Croskery to the board of its new subsidiary, to focus on securing deals in Jamaica and the region. Both Ehave...

Published:Friday | January 8, 2021 | 12:09 AMSteven Jackson - Senior Business Reporter

Derrimon Trading Limited, DTL, owners and operators of the Sampars and Select Grocers supermarkets, among other holdings, expects to more than double profits to approximately $800 million by acquiring unnamed retail entities in the United States...

Published:Sunday | December 27, 2020 | 12:05 AMSteven Jackson - Senior Business Reporter

Rum maker J. Wray...

Published:Sunday | December 20, 2020 | 12:17 AMSteven Jackson - Senior Business Reporter

Cargo Handlers Limited, CHL, has spent $100 million to acquire 30 per cent stake in Buying House Cement Limited, a cement importer based in Montego Bay that mostly supplies western Jamaica. Domicem, a company based in Dominican Republic, will...

Published:Friday | December 18, 2020 | 12:17 AMSteven Jackson - Senior Business Reporter

Distribution company Derrimon Trading Limited, DTL, which operates the Sampars and Select supermarkets, among other businesses, will remain listed on the junior market of the Jamaica Stock Exchange, JSE, despite its pending $3.5-billion capital...

Published:Friday | December 18, 2020 | 12:15 AMSteven Jackson - Senior Business Reporter

As moratoriums on mortgage payments come to an end, real estate experts see rising risk for homeowners losing their homes to foreclosures by lenders. That’s because of the job losses under the pandemic and the slow recovery of the decimated...

Published:Friday | December 11, 2020 | 12:17 AMSteven Jackson - Senior Business Reporter

Food and logistics conglomerate Jamaica Producers Group, JP, will pay out $224 million in dividends to shareholders in mid-January, its largest since 2015. The distribution at 20 cents per share represents a yield of under 1.0 per cent on the...

Published:Wednesday | November 25, 2020 | 12:12 AMSteven Jackson - Senior Business Reporter

TransJamaican Highway, toll operator for the East-West corridor of Highway 2000, has moved forward plans to acquire more toll roadway currently under construction in the parish of Manchester. The road project is being undertaken by the Government...

Published:Sunday | November 22, 2020 | 8:18 AMSteven Jackson - Senior Business Reporter

Jamaica hopes to keep its luxury coffee exports to Japan on par with previous years, but the latest data shows its losing ground to coffee imports from richer non-coffee producing nations. Jamaica exports most of its coffee to Japan, the world’s...

Published:Friday | November 20, 2020 | 12:13 AMSteven Jackson - Senior Business Reporter

Job losses arising from the COVID-19 fallout are worse than the previous crisis in 2008, but recovery should happen four times as fast, according to Planning Institute of Jamaica, PIOJ, Director General Dr Wayne Henry. That’s due to the improved...

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