Thu | Jan 17, 2019

Stories by Avia Collinder/Business Reporter

Published:Wednesday | January 16, 2019 | 12:00 AMAvia Collinder/Business Reporter

Members of the Caribbean Community (CARICOM) budget committee, which met in Guyana last December, found that members states are in arrears to the tune of more than US$99 million as at May 31, 2017, in terms of their contributions.A paper, titled '...

Published:Wednesday | January 2, 2019 | 12:00 AMAvia Collinder/Business Reporter

Barita Investments Limited has delayed its non-renounceable rights issue in order to get shareholders' approval at an extraordinary general meeting, EGM, on January 17.In a new notice on December 21, board directors said that "while we are assured...

Published:Wednesday | January 2, 2019 | 12:00 AMAvia Collinder/Business Reporter

The Japanese have legislated that January 9 be proclaimed Jamaica Blue Mountain Coffee Day in Japan in recognition of that date on which the largest shipment of the product left Kingston to the Asian country in 1967.That followed the first direct...

Published:Wednesday | November 28, 2018 | 12:00 AMAvia Collinder/Business Reporter

The acquisition of regional financial conglomerate Sagicor Financial Corporation Limited (SFC) by Canadian private-equity firm Alignvest will not affect shareholders of the Jamaican subsidiary, says president and CEO of Sagicor Group Jamaica Limited...

Published:Wednesday | November 21, 2018 | 12:00 AMAvia Collinder/Business Reporter

The long-anticipated move by the Government of Jamaica to shift some of its payments to a mobile money platform made headway this week with the invitation for expressions of interest for payment portals for the Programme of Advancement Through...

Published:Friday | November 16, 2018 | 12:00 AMAvia Collinder/Business Reporter

Come month end, GraceKennedy Remittance Services Limited, GKRS, is headed to court to challenge a decision by the tax authorities in Guyana that it underpaid taxes there by more than $240...

Published:Wednesday | November 7, 2018 | 12:00 AMAvia Collinder/Business Reporter

Ribbiz Lounge Limited, a causal dining and bar outfit, which operates Ultra Lounge in Barbican, Kingston, has poured $30 million into its second restaurant, which opened last week at the Victoria Pier on the Kingston waterfront.Kemar Bankay, Don...

Published:Wednesday | September 12, 2018 | 12:00 AMAvia Collinder/Business Reporter

Two Jamaican conglomerates were denied the opportunity yet again to invest in what would have been a new area of business for them - airport operations.The Development Bank of Jamaica (DBJ) has chosen a Mexican firm for the Norman Manley...

Published:Wednesday | September 5, 2018 | 12:00 AMAvia Collinder/Business Reporter

Jamaican realtors, property developers and bankers selling mortgages are reporting more interest in investment property purchases, and a concurrent upswell in mid-income developments in Kingston that is partly a response to that demand.Devon Young,...

Published:Wednesday | August 29, 2018 | 12:00 AMAvia Collinder/Business Reporter

Caribbean Flavours & Fragrances Limited (CFF) is now rolling out a salt and sugar reducing agent for distribution to the beverage and baking trades in Jamaica and the Caribbean, under the brand name Flavour Fit...

Published:Wednesday | August 29, 2018 | 12:00 AMAvia Collinder/Business Reporter

The logistics park being developed by China Harbour Engineering Company (CHEC) is two years away from completion, but already various businesses in food distribution, equipment and parts, and fast moving consumer goods are expressing interest in the...

Published:Wednesday | August 22, 2018 | 7:36 AMAvia Collinder/Business Reporter

Sagicor Real Estate X Fund Limited reported a slippage in net profit by two per cent at half-year quarter ending June, relative to last year.But CEO Brenda-Lee Martin says the company expected improved results going forward, arising from the Playa...

Published:Wednesday | August 22, 2018 | 12:00 AMAvia Collinder/Business Reporter

Jamaica Mortgage Bank, JMB, aims to lend $1.3 billion to developers for housing construction this fiscal year.If the state-owned financier hits the target, it would represent a one-third increase atop the $972 million of loans written last year.JMB...

Published:Wednesday | August 15, 2018 | 12:00 AMAvia Collinder/Business Reporter

With Cabinet approval in hand, the Ministry of Labour and Social Security disclosed on Monday that it is pursuing an overhaul of public pension fund manager National Insurance Fund (NIF) that will result in its merger with the National Insurance...

Published:Wednesday | August 1, 2018 | 12:00 AMAvia Collinder/Business Reporter

For more than two decades, Pulse Investments Limited has been managed by a company owned by its chairman, Kingsley Cooper, and was the vehicle through which he was compensated for services that extended beyond his executive role.But that arrangement...

Published:Wednesday | July 25, 2018 | 12:00 AMAvia Collinder/Business Reporter

Tax Administration Jamaica (TAJ) has published the final version of a transfer pricing agreement practice note, the TPA, outlining what it says is a mechanism to reduce disputes over the reporting of arm's length transactions.The Jamaican TPA is a...

Published:Wednesday | June 20, 2018 | 12:00 AMAvia Collinder/Business Reporter

The Jamaica Agricultural Commodities Regulatory Authority, JACRA, may be in the process of searching for management talent, but its collection mechanisms appear to be firmly in place.The Ministry of Investment, Commerce, Agriculture...

Published:Wednesday | June 20, 2018 | 12:00 AMAvia Collinder/Business Reporter

Pulse Investments Limited has wrapped up the construction of 20 residential units at the Trafalgar Road complex, which will be marketed on Airbnb.Chairman Kingsley Cooper said that, to bring clients to the property, Pulse would seek to leverage the...

Published:Wednesday | May 16, 2018 | 12:00 AMAvia Collinder/Business Reporter

CB Group is set to ramp up exports of chicken and pork to Caribbean markets following the green light from Council for Trade and Economic Development, COTED, in the wake of a risk assessment of producers in Caribbean countries, Jamaica among them....

Published:Wednesday | May 16, 2018 | 12:00 AMAvia Collinder/Business Reporter

Nestle Jamaica Limited, which claims a 43 per cent share of the local retail coffee market as of February, says it's considering hiking the price of its products, following a 1,200 per cent increase in duties related to a new import cess.The Swiss-...

Published:Wednesday | May 16, 2018 | 12:00 AMAvia Collinder/Business Reporter

Dr Devon Osbourne and Dr Karen Asher-Osbourne, owners of Portmore Hospital Complex Limited, figure that in six years they will reach break-even on their investments to expand the business and grow market share.Portmore Hospital, which is now...

Published:Wednesday | May 9, 2018 | 12:00 AMAvia Collinder/Business Reporter

With the announcement by Minister of Industry, Commerce, Agriculture...

Published:Wednesday | April 18, 2018 | 12:00 AMAvia Collinder/Business Reporter

Having pulled back from plans to dispose of the Seprod shares held by the Coconut Industry Board, under a new minister, the agency is now looking for buy-in for a $3-billion capital programme and is seeking private partners for various commercial...

Published:Wednesday | April 11, 2018 | 12:00 AMAvia Collinder/Business Reporter

The Companies Office of Jamaica is learning the hard way that the mandatory requirement that all companies identify their beneficial owners on their annual returns should have had a carveout for publicly listed companies.The stock of listed...

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