The Bank of Jamaica has updated the information on credit unions in its latest annual report, which now captures data from January to December 2022. The central bank’s initial report had covered only 10 months of prudential data on the sector that’...
The partners in Jamalco refinery in Clarendon want to refocus on incorporating the alumina company prior to approaching the capital markets for financing. The plan is to do so before starting new investment projects. Managing Director of Jamalco...
Russia agreed to extend a deal that has allowed Ukraine to ship grain through the Black Sea to parts of the world struggling with hunger, Turkish President Recep Tayyip Erdogan announced Wednesday, a boost to global food security after the more...
Motorists will pay $3.06 more for gas when they go to the pumps on Thursday. The state-owned oil refinery, Petrojam, says E-10 87 will sell for $167.39 per litre and a litre of E-10 90 will sell for $170.92. Automotive diesel oil will move up by $0...
Aiming for a minimum 15 per cent growth in revenue, annually, energy storage company Tropical Battery is days away from clearing its first shipment of 40 electric bikes, as it prepares to enter the world of auto dealing. Having secured a dealer’s...
The European Union’s sweeping set of beefed-up cryptocurrency rules got final approval from member states on Tuesday, giving the 27-nation bloc a global lead in regulating the freewheeling sector. The European Council adopted the package of rules...
Executives from two large American banks that failed dramatically in March appeared in front of the Senate Banking Committee on Tuesday to respond to questions about why their banks went under and what regulators could have done to avoid the...
Roots Financial Group has acquired patty maker and food chain Mother’s Enterprise Limited for an undisclosed sum. “We acquired 100 per cent of Mother’s Enterprises,” said Kevin Donaldson, a former investment banker and principal owner of Roots...
The price of goods and services fell for the month of April 2023, causing the country’s annual inflation rate to settle within the Bank of Jamaica’s target range for the first time in two years. Consumer prices dropped by 0.4 per cent for the month...
Anthony Tharpe, CEO of the Caribbean Real Estate Fund Limited, otherwise known as Careif, has been canvassing for industry support following a loss in the Court of Appeal which means, he says, that property contracts can be voided if a developer...
Rising sales of GraceKennedy products across Jamaica was tagged as one of the major contributors to double-digit growth posted by the conglomerate for the first quarter ending March, despite an economic climate that Group CEO Don Wehby says...
After his swearing-in ceremony on January 1, Brazil’s Luiz Inácio Lula da Silva walked up the ramp to the presidential palace arm in arm with Indigenous leader Raoni Metuktire, instantly recognisable by his yellow headdress and wooden lip plate....
The official data on cocoa is lagging, but businesses and the regulator overseeing the market say more cocoa-based products are being produced in Jamaica, and as part of the trend, more local beans are being supplied as raw material to local...
Roots Financial Group has acquired patty maker and food chain Mother's Enterprise Limited for an undisclosed sum. “We acquired 100 per cent of Mother’s Enterprises,” said Kevin Donaldson, a former investment banker and principal owner of Roots...
A new United States Federal Reserve report showed that banks raised their lending standards for business and consumer loans in the aftermath of three large bank failures and expect to lift them more this year, a trend that could slow the economy in...
Spoiler alert: I am not going to talk about how ChatGPT responds when prompted about economic-development strategies. It basically regurgitates reasonable, but mediocre ideas that it has seen in its training set. But ChatGPT’s design, which has...
A trustee, through a trust, holds legal title of an asset or group of assets for another person, called the grantor, for the benefit of others, called the beneficiaries. The trustee can be a person or entity but does not own the assets. A trust...
In February 2019, the Financial Services Commission, FSC, released its 13-page ‘Revised Guidelines on Market Conduct for Insurance Companies and Intermediaries’. Even though the insurance industry – and people like me – participated in writing them...
“Francis,” clients sometimes ask, “Why do you recommend a two-day strategy retreat?” Usually, they want to get the most from their workshop, but also don’t wish to waste a moment. After all, top executive time is quite expensive. Assuming that your...
When Joe Seaman-Graves, the city planner for the working-class town of Cohoes, New York, Googled the term ‘floating solar’, he didn’t even know it was a thing. What he did know was that his tiny town needed an affordable way to get electricity and...
Mavelyn Watson has nearly tripled her coffee output last year, a resurgence in yields that buttresses plans to venture deeper into valued-added production. As operator of Maveric Farm Limited, Watson cultivates coffee on 25 acres of her 30-acre...
Almost a year into the making of the Code of Conduct that will guide how microcredit licensees operate on consumer related matters, the Consumer Affairs Commission, CAC, says it has received feedback from the Bank of Jamaica and is currently...
Renewal energy investor MPC Capital will transfer assets of MPC Caribbean Clean Energy Fund LLC to MPC Caribbean Clean Energy Limited, MPCCEL, under a restructuring of the German company’s regional holdings that’s subject to approval by...
The Jamaican Government is trying to determine the cost of retrofitting 50 health, education and public facilities with energy-saving lights and related equipment for which it is hunting a consultant. The project is one of several energy...
The focus on capital adequacy by large banking conglomerate NCB Financial Group resulted in it reclassifying certain investment assets to retain value. “We are living in uncomfortable times,” said President and CEO Patrick Hylton during an...
