Thu | Apr 9, 2020

Stories by Neville Graham/Business Reporter

Published:Monday | March 30, 2020 | 12:14 AMNeville Graham/Business Reporter

FINANCE AND the Public Service Minister Dr Nigel Clarke is defending the adequacy of the Government’s $25-billion stimulus to blunt the fallout sparked by the COVID-19 pandemic. Clarke said that the roll-out of initiatives was a historic and...

Published:Saturday | March 28, 2020 | 12:27 AMNeville Graham/Business Reporter

Finance and the Public Service Minister, Dr Nigel Clarke, says a re-engagement with the International Monetary Fund (IMF) is not on the cards at this time. He says while the Government has considered all its options in responding to the economic...

Published:Wednesday | March 25, 2020 | 12:25 AMNeville Graham/Business Reporter

Ann-Dawn Young Sang is out as president and CEO of Supreme Ventures Limited amid a reorganisation of the group that she led, and a prospective opening up of the market to new competition. Her departure comes two and a half years after she was...

Published:Saturday | March 21, 2020 | 12:21 AMNeville Graham/Business Reporter

A sophisticated cyberattack was unleashed on the JN Bank this week sending the financial institution’s cybersecurity team into defence mode as they took swift action to contain the effects of the malware and to identify the source of the onslaught...

Published:Saturday | March 14, 2020 | 12:18 AMNeville Graham/Business Reporter

The last two months of Jamaica’s winter tourist season are going cold, with arrivals expected to decline by 16 per cent for March as COVID-19 tightens its grip on global travel, says Tourism Minister Edmund Bartlett. April may be worse, Bartlett...

Published:Wednesday | March 11, 2020 | 12:09 AMNeville Graham/Business Reporter

The Jamaica Urban Transit Company (JUTC) and its energy partner are yet to do the analysis, but the bus company is already encouraged by the raw data from the pilot testing of natural gas as a fuel source for its fleet. New Fortress Energy, NFE,...

Published:Wednesday | March 4, 2020 | 12:19 AMNeville Graham/Business Reporter

Sterling Investments Limited, SIL, doubled profit from $53 million to $101 million last year, a record for the company that its operational head, Charles Ross, intends to better this year. It comes amid a doubling of foreign exchange earnings for...

Published:Wednesday | February 19, 2020 | 12:22 AMNeville Graham/Business Reporter

In six months, Sygnus Credit Investments Limited has doubled its portfolio of investments, nearly half of which is deployed in Jamaica. The company’s has made 23 private credit investments valued at US$54.35 million to the period ending December...

Published:Wednesday | February 12, 2020 | 12:14 AMNeville Graham/Business Reporter

Newcomer Sygnus Capital and Sagicor Investments Jamaica have partnered to form a private equity firm that will be unveiled later tonight. The new outfit, called Sygnus Deneb Investments Limited, marks the two companies’ first-time entry into the...

Published:Wednesday | January 22, 2020 | 12:32 AMNeville Graham/Business Reporter

A major infrastructural programme about to be rolled out by the Government will tap into smart technology and be anchored on a rigorous maintenance regime. Prime Minister Andrew Holness yesterday unveiled the Greater Infrastructure Development...

Published:Friday | January 10, 2020 | 12:29 AMNeville Graham/Business Reporter

Petroleum marketing company RUBiS has seven days to come up with a full report on a fuel and chemical spill at its Rockfort facility. This comes after a January 7 incident where the roof of a water tank collapsed at the plant. The water tank is...

Published:Wednesday | January 8, 2020 | 12:23 AMNeville Graham/Business Reporter

Main Event Entertainment Group made 29 per cent more in revenue last year, just enough to give the events company a small boost at the bottom line, despite heavy spending. For year ending October 2019, Main Event’s sales were up by $402 million to...

Published:Wednesday | December 11, 2019 | 12:31 AMNeville Graham/Business Reporter

After two decades in the cigarette market, including six years as the top executive of Carreras, Michael Steele is moving on. But he’s not saying what comes next, except that he plans to stay in Jamaica and could end up in another corporate...

Published:Wednesday | December 4, 2019 | 12:10 AMNeville Graham/Business Reporter

The market for liquefied petroleum gas, LPG, as motoring fuel has a third player, Autogas Jamaica Limited, AJL, a St Ann-based company that has emerged from its testing phase and is now fully operational after two years. AJL both retrofits vehicles...

Published:Wednesday | November 20, 2019 | 12:15 AMNeville Graham/Business Reporter

Start-up distributor Bar Central has landed a ­contract with large conglomerate GraceKennedy (GK) worth $150 million over two years. The unlikely alliance will see two-year-old Bar Central distributing consumer items for 97-year-old GK in bars and...

Published:Wednesday | November 20, 2019 | 12:13 AMNeville Graham/Business Reporter

The adjusted age limit for imported pre-owned vehicles comes after years of lobbying by auto dealers, who say one of the immediate beneficiaries will be the agricultural sector. The older the unit that the market can procure for sale inside Jamaica...

Published:Wednesday | November 13, 2019 | 12:08 AMNeville Graham/Business Reporter

In five years or less, Convenient Brands, the holding company for food franchises controlled by the Mahfood family, plans to build out a number of convenience stores across the Caribbean under the Circle K brand. It’s starting in Jamaica, where two...

Published:Wednesday | October 9, 2019 | 12:07 AMNeville Graham/Business Reporter

Fresh from an aggressive foray into Costa Rica, investment upstart First Rock is targeting a year-end initial public offering to satisfy commitments to its private backers that the real estate company would go public. First Rock is also looking to...

Published:Wednesday | October 2, 2019 | 12:16 AMNeville Graham/Business Reporter

Lifestyle company Pulse Investments Limited, which expanded the hospitality operations at its New Kingston location to include accommodations, more than doubled profits at year ending June. Chairman Kingsley Cooper says Pulse, which operates a...

Published:Wednesday | September 25, 2019 | 12:21 AMNeville Graham/Business Reporter

Thomas Cook, which declared bankruptcy on Monday, was expected to fly 16 charters to Jamaica between now and March 2020, leaving the Ministry of Tourism scrambling to ensure that those vacations aren’t cancelled. “Tourism is a very resilient...

Published:Wednesday | July 31, 2019 | 12:08 AMNeville Graham/Business Reporter

The new owners of Fly Jamaica plan to return the airline to the sky in early September, supported by an expanded fleet of planes that are due for delivery between October and November 2019. Majority owner and CEO Glenn Logan says he and his...

Published:Wednesday | July 24, 2019 | 12:25 AMNeville Graham/Business Reporter

Yaad Man Petroleum has acquired property for $180 million, on which it plans to develop Jamaica’s largest service station. Miguel Smith, who co-founded Yaad Man with his wife, Tanya, says he plans to start construction on a Texaco-branded station...

Published:Wednesday | July 17, 2019 | 12:19 AMNeville Graham/Business Reporter

The initial public offering of shares in the Eppley Caribbean Property Fund Limited SCC-Value Fund has been extended by two weeks, but the fundraising target is so far unchanged at $4.5 billion. Eppley Caribbean Chairman Nicholas Scott says the...

Published:Wednesday | July 17, 2019 | 12:18 AMNeville Graham/Business Reporter

It used to be that importing a used motor vehicle from Japan would take two to five weeks, but importers are now faced with delays of up to five months. According to Andrew Jackson, vice-president of the Jamaica Used Car Dealers Association, JUCDA...

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