Year two of Christopher Zacca’s tenure as president and CEO of Sagicor Group Jamaica brought record profit amid a restructuring of the accounting for resort investment Playa. But just in case anyone thought otherwise, Zacca is declaring he is...
The number of applicants for shares in the Wigton Windfarm IPO has exceeded the 10,000 goal set by the Jamaican Government. But a representative of lead broker Mayberry Investments Limited, who confirmed the level of subscriptions, said “public...
Two companies from Uruguay and Colombia will become the first in Latin America to export medical marijuana products to Europe under deals announced Wednesday. Fotmer Life Sciences of Uruguay and Clever Leaves of Colombia will export cannabis...
Germany’s Deutsche Bank and Commerzbank said Thursday they were halting talks on a possible merger that aimed to create a stronger global banking player, saying it would be too risky and costly. Deutsche Bank CEO Christian Sewing said in a...
Who’s minding the store? In the not-too-distant future it could be cameras and sensors that can tell almost instantly when bruised bananas need to be swapped for fresh ones and more cash registers need to open before lines get too long. Walmart,...
Sygnus Credit Investments, SCI, is looking to real estate and going beyond Jamaica’s boundaries to make more money for its investors. A property fund is being created for the purpose, but Berisford Grey, CEO of SCI’s management company Sygnus...
While it will not share the percentage of the remittance market which it currently controls in Jamaica, American company PayPal, which owns remittance company Xoom, is not being coy about its desire to increase market share in one of the Caribbean’...
IMF officials have opted not to weigh in on the implications of the court ruling on Jamaica’s National Identification System, NIDS, even though it forms part of the policies for implementation under the social safety net reforms being undertaken by...
Tesla has lost nearly US$6 billion since setting out to revolutionise the auto industry 15 years ago, but CEO Elon Musk foresees a profitable future fuelled in part by a ride-hailing service made up of electric cars driven by robots. The mind-...
Clinton Reid took on his former employer, Jamaica National Building Society, JNBS, in a five-year battle, and won. But the 50-year-old chartered accountant says the $8.5 million award granted by the Industrial Disputes Tribunal, IDT, is cold...
It’s a project in its nascent stage and Cabinet is yet to approve its structure, but the Ministry of Industry, Commerce, Agriculture and Fisheries (MICAF) plans to tie down deals with private sector companies on a logistical network for farm...
Boeing estimates that it will spend US$1 billion to fix the 737 Max and has pulled its forecast of 2019 earnings because of uncertainty surrounding the jetliner, which remains grounded after two crashes that killed 346 people. The estimate was...
Proven Wealth Limited has launched a platform that allows Jamaican investors more options to live-trade US stocks at cheaper prices, becoming the second local broker known to offer such services. “Customers are demanding this,” said Johann Heaven...
OP-ED CONTRIBUTION: LEGAL AFFAIRS Companies considering a merger with or acquisition of a competitor in their market should consider whether that transaction may run afoul of the competition legislation. Such a transaction could potentially...
United States auto safety regulators have expanded an investigation into malfunctioning airbag controls to include 12.3 million vehicles because the bags may not inflate in a crash. The problem could be responsible for as many as eight deaths....
Energy analysts at Raymond James & Associates are warning that US imposition of tougher Iranian oil sanctions is “unambiguously bullish” for the price of oil...
Jamaican households are servicing three times more debt than a decade ago. The Bank of Jamaica (BOJ) is reporting that $56.60 of every $100 of household income goes towards the servicing of personal loans, the highest level mapped by the central...
National Commercial Bank (NCB) has developed a new online portal for mortgages that is meant to move loans through the door more speedily. It is part of the bank’s digital initiative, the Agile lab, which has now grown to 10 services since its 2017...
Jamaican exports grew by nearly 38 per cent last year, a pace that was nearly four times faster than the rise in imports. Still at a value of US$1.88 billion, the goods that Jamaicans sell to foreign markets was less than a third of the products...
The David Boxer auction held earlier this month provided a snapshot of the state-of-art investment in Jamaica, with just half the nearly $20 million worth of pieces on sale finding buyers. The auction saw the unlocking of 101 works by a series of...
Adjustments to the law that polices credit bureaus are under consideration, a development that two of the three players say should open up the market to new products and services that they are currently barred from selling. Craig Stephen, CEO of...
Twitter Inc on Tuesday trumpeted strong quarterly growth in earnings and users. The company said net income for the first three months of the year rose on strong ad demand. Daily users rose 11 per cent to 134 million for the first quarter of 2019,...
ADVISORY COLUMN: PERSONAL FINANCIAL ADVISER An initial public offering, or IPO, is the offering of shares in a company to the general public for the first time. IPOs may be made by start-up companies or companies that have been in business for a...
ADVISORY COLUMN: PRODUCTIVITY How can a manager be promoted, only for others to discover that he lacks certain basic, foundation skills? Someone somewhere dropped an easy ball that could have been corrected if the company had the right perspective...
ADVISORY COLUMN: INSURANCE HELPLINE QUESTION: I was involved in an accident near Black River in February. A truck drove into the left side of my car. It was travelling on a minor road. I was on the main road. The driver admitted to me that he...
