The US Federal Reserve’s decision to raise interest rates by 475 basis points over the course of 12 months, in a bid to curb inflation, was bound to be perilous. As should have been expected, it precipitated a dramatic shift in yield curves and...
Beverage manufacturing and distribution company, Wisynco Group Limited, has for the second consecutive quarter maintained earnings of $1.2 billion on record sales of $12 billion. The third-quarter performance, which covered the period January to...
The Jamaica Broilers Group, JBG, is projecting a 70 per cent spike in the production of broiler chicks after pouring $200 million into expansion of a hatchery in Cumberland, St Catherine. A sizeable portion of the investment paid for equipment and...
The Supreme Court has refused an application to remove Debbie-Ann Gordon as trustee of Mystic Mountain Limited, MML, an adventure park operator that’s in bankruptcy; but the judge also approved five inspectors who represent the pool of unsecured...
No sooner did ChatGPT get unleashed than hackers started ‘jailbreaking’ the artificial intelligence chatbot – trying to override its safeguards so it could blurt out something unhinged or obscene. But now its maker, OpenAI, and other major AI...
Regency Petroleum Company has got the green light to set up a gas station in Kingston, which will open for business a year from now. The petrol station, intended for Spanish Town Road, adjacent to the Trench Town Fire Station, will be the company’s...
The Turtle River Falls and Gardens in St Ann, which was built on lands that formed part of the former Enchanted Gardens property, has been listed for sale on the real estate market for US$15 million, which converts to $2.3 billion in local currency...
A top European Union court ruled Wednesday that EU competition authorities were wrong to approve massive bailouts designed to help German flag-carrier Lufthansa and Scandinavian airline SAS deal with the impact of COVID-19 restrictions. The 27 EU...
For two days, June 7 and 8, the Jamaica Stock Exchange, JSE, will be in the Dominican Republic in downtown Santo Domingo to attract the attention of investors in that country and facilitate the forging of alliances. Managing Director of JSE Group...
Marine park operator Dolphin Cove Limited is advancing plans for the expansion of two parks, on the heels of what has been its best annual performance in its 22-year history, and expectations of increased business to come from larger cruise ships...
The new majority owner of the Jamalco alumina refinery intends to pump up to US$20 million of capital into the operation, which it expects to return to profit by September. “With respect to Jamalco, we expect to break even, or better, for adjusted...
A pandemic can change perspective. And for Thalia Lyn, the past chief executive, deputy chair and founder of food service company Island Grill Group, that meant a recalibration about who to hand over management of the business to that had just come...
After a two-year pause on the buildout of factory space in White Marl, St Catherine, to facilitate research into bamboo housing, Chairman of the Bamboo Industry Association of Jamaica, BIAJ, Robert Rainford says they are now months away from...
The Biden administration is working on new regulations that would require airlines to compensate passengers and cover their meals and hotel rooms if they are stranded for reasons within the airline’s control. The White House said United States...
QUESTION: I read your article in The Gleaner on setting up a trust, but you never went into detail. I don’t know if I can do it myself like I registered my company, or if I have to go through a lawyer or if there is an organisation to deal with...
Over the past two months, some micro and small business owners and their customers have found themselves in the firing line of a deepening cash crunch and automated banking machine dilemma, brought on by the violent and deadly attacks on members of...
Jamaica is the only country that dedicates an entire month – May – to activities focusing on children. A Jamaican paediatrician, Dr Cecily Williams, actively promoted the idea. She was globally recognised for her work and research into kwashiorkor...
Innovative Systems, a retailer of electronic products, has raised $220 million in a bond offer for accredited investors that will fuel its 2024 expansion. The company will add three locations in Kingston, Portmore, and Montego Bay, bringing its...
Faced with project delays in the order of six to 12 months, real estate company Sygnus Real Estate Finance Limited, SRF, has pushed back the next starting point for the next cycle, which generally has a two to three-year rotation. The delay in...
The Urban Development Corporation, UDC, has begun groundwork for the sale of roughly 108 acres of Caymanas Estate lands, all of which is slated for light commercial development. So far, the state agency has received approval from the National...
The National Water Commission, NWC, is projecting a $3.9 billion surplus this fiscal year, which would reverse losses recorded two years earlier, but a major plank of that growth will rest on increased revenue and cost containment, especially in...
The Jamaica Stock Exchange (JSE) Combined Index closed the week on a winning note on Friday. Slow to moderate trading ended with an advance/decline ratio of 44/52. The JSE Combined Index advanced by 1,250.75 points or 0.36 per cent, to close at...
The list of needs is long in Guyana, a South American country of 791,000 people that is poised to become the world’s fourth-largest offshore oil producer, placing it ahead of Qatar, the United States, Mexico and Norway. The oil boom will generate...
Global shocks will make the raising of US$350 million in seed capital for Portland Caribbean Fund III more challenging this year. Consequently, the fund managers will extend the offer to new investors until 2024, according to Robert Almeida, the...
Credit unions saw a dip in the quality of their loans last year, new central bank data shows, resulting in a non-performing portfolio above five per cent of total loans. But the Jamaica Co-operative Credit Union League, JCCUL, is insisting that the...
