Power utility Jamaica Public Service Company Limited, JPS, will spend US$18.25 million ($2.83 billion) on specific projects designed to improve the reliability of the electricity grid following a spike in outages. On average, the number of outages...
The Jamaica Stock Exchange (JSE) Combined Index close the week on a winning note on Friday. The moderate trading ended with an advance/decline ratio of 53/32. The JSE Combined Index advanced by 2,495.00 points or 0.72 per cent to close at 348...
Shares of Nvidia, already one of the world’s most valuable companies, skyrocketed Thursday after the chipmaker forecast a huge jump in revenue, signalling how vastly the broadening use of artificial intelligence could reshape the tech sector. The...
With one of three major rating agencies warning that America’s AAA credit is at risk, the stakes are growing in the standoff in Washington over raising the nation’s debt limit. On Wednesday night, the rating agency Fitch put the nation’s credit on...
NCB Financial Group Limited sought to quell speculation on Wednesday night regarding its chairman, billionaire investor Michael Lee-Chin, after initially announcing his pending leave of absence from the board without explanation. The initial...
New rules regarding insurance contracts that have been called the most radical in a decade have carved about $45 billion off the capital base of two of the largest insurance conglomerates that operate businesses in Jamaica. Collectively, Sagicor...
Used car dealer Jetcon Corporation says loan rate hikes and scarce funds have slammed the brakes on cars moving off its lots, and pulled the auto trader into losses in the March quarter. Jetcon has issued its first-quarter results, although its...
The 15 of 15 Alternative Fund managed by Portland Counsel has exited its holdings of Meta Platforms stock and reacquired shares in luxury brand LVMH, which owns Hennessy and Louis Vuitton. Meta Platforms Inc, which owns Facebook, Instagram and...
Energy products trader and pipe manufacturing company FosRich has entered the United States through the newly incorporated FosRich USA Inc, which is expected to start doing business by the end of summer. CEO of FosRich Company Limited Cecil Foster...
In hearings in the Supreme Court on Monday, Justice David Batts asked the lawyers representing issues remaining to be settled in the case of Mystic Mountain Limited, a company in bankruptcy, to marshall more evidence for a final hearing at the end...
Property developer Stanley Motta Limited is scouting tenants for a new commercial high-rise at Half-Way Tree Road in Kingston into which it is pumping US$12 million. In a move aimed at diversifying its rental client base beyond the business process...
The Bank of Jamaica is forecasting that inflation will align with the target range for the December quarter and be maintained up to the period ending March 2024. But BOJ Governor Richard Byles is also warning of possible temporary upward pressure...
The NCB Financial Group (NCBFG) has sought to address questions regarding the decision of billionaire businessman Michael Lee-Chin to take a three-month leave of absence from his post as chairman of the group. In a media release on...
The Jamaica Stock Exchange (JSE) Combined Index gained ground on Wednesday. The moderate trading, ended with an advance/decline ratio of 40/55. The JSE Combined Index advanced by 2,890.60 points or 0.84 per cent, to close at 347,251.23. ...
Higman and Monteith stated that “the study of business history as a distinct discipline is well established in many places but relatively neglected in the West Indies”. Danns opined that scholars who have written on the development of the Caribbean...
Derrimon Trading Group earnings plummeted to $53 million in the first quarter ending March, a performance that reflected costs to operate the expanding business. The company, which has been in growth mode for some two years, reported a 120 per cent...
Income, profits and gains arising or accruing to any person or entity in Jamaica are captured within the ambit of the Income Tax Act, or ITA. This is not to say that income arising outside of Jamaica is beyond the purview of the Income Tax Act, but...
If the debt crisis roiling Washington were eventually to send the United States crashing into recession, America’s economy would hardly sink alone. The repercussions of a first-ever default on the federal debt would quickly reverberate around the...
Ford CEO Jim Farley says his company will stop competing in over-served market segments and instead will place big bets on connected vehicles and digital services. The days of Ford being all things to all people are over, Farley said at the company...
American oil giant ExxonMobil said it has appealed a recent Guyanese court ruling forcing it to set aside hundreds of millions of dollars in the event of a major oil spill off the coast of Guyana. The company said in a statement that the court had...
Jamaican Medical Cannabis Corporation, which has a presence in Jamaica and Toronto, has announced the acquisition of Materia Ventures, a supply and distribution company for cannabis and CBD products located in Malta. The new business is described...
Working with private partners, the Housing Agency of Jamaica, HAJ, is putting pricier developments on the market beyond the income segment it has served in past decades. The agency, which traditionally delivers starter housing units and provide...
Consolidated Bakeries Jamaica, which trades as Purity, will add a snack bar to its lineup, one of the new product innovations the company is attempting to reinforce its recent sales growth. By tapping into market preferences, the baked-goods...
The Jamaica Social Investment Fund, JSIF, will spend some $20 million on the renovation of a Hanover honey- bottling plant that is expected to aid more than 200 bee farmers in the western parishes. The project is being carried out under the Rural...
Barita Investments Limited expects affiliate MJR Real Estate to start developing its property holdings as early as 2024, and for the returns from sales to pour in beginning in three years’ time. “As we progress our local and international...
