Thu | Nov 21, 2019

Stories by Steven Jackson/ Senior Business Reporter

Published:Wednesday | January 16, 2019 | 12:00 AMSteven Jackson/ Senior Business Reporter

Caribbean Cream, which makes the Kremi brand of ice cream, has announced that it completed the installation of its $180-million ammonia refrigeration plant in its latest quarter, which will increase its production capacity by 20 per cent.The plant...

Published:Wednesday | January 9, 2019 | 12:00 AMSteven Jackson/ Senior Business Reporter

Eppley Limited, which manages real estate assets mainly in Barbados through a listed entity, Eppley Caribbean Property Fund Limited, is contemplating acquiring more properties valued at up to US$20 million to bolster its return on investment.The...

Published:Wednesday | January 9, 2019 | 12:00 AMSteven Jackson/ Senior Business Reporter

Knutsford Express Services Limited (KEX), the luxury passenger and courier transportation company, plans to acquire a United States-based bus company as part of the effort to expand its locally based cross-country bus service."KEX has advised that...

Published:Wednesday | December 26, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Telecommunications provider Digicel Group disclosed a new deal that has been largely accepted by irate bondholders, which includes concessions on a better interest rate for one bond and for the other, reducing the amount of debt set for extension....

Published:Wednesday | December 19, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Businessman and scientist Dr Henry Lowe, who has a series of cancer drugs in various stages of development under different partnerships, announced his second deal to conduct clinical trials in as many months.The latest will see Educational and...

Published:Wednesday | December 12, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Scotia Group Jamaica Limited will distribute life insurance products on behalf of Sagicor Group Jamaica's insurance arm, for which it will earn fees, once the sale of its life insurance business is concluded.The No. 2 banking group will set up a new...

Published:Wednesday | December 12, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Pharmacy company Fontana Limited will wrap up the development of its sixth store next year in Kingston, but is already looking for new sites in Montego Bay and Portmore to expand the chain even further.Fontana disclosed the expansion plans as it...

Published:Wednesday | December 5, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Coffee processor Salada Foods Jamaica Limited has hit its sought-after prize of $1 billion in annual revenue, a mandate given to General Manager Dianna Blake-Bennett, who assumed leadership of the company two years ago.Blake not only grew annual...

Published:Wednesday | November 28, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

MPC Caribbean Clean Energy Limited, a start-up investment company that invests in renewable projects across the region, aims to raise US$50 million from cross-listing in Jamaica and Trinidad and Tobago.The brokers arranging the offer had to "dust...

Published:Wednesday | November 14, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Telecommunications provider Cable & Wireless Jamaica, C&WJ, which trades as Flow Jamaica, confirmed that its parent company aims to take 100 per cent control of outstanding shares...

Published:Wednesday | November 7, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Flavocure LLC, a drug company founded by Jamaican scientist Dr Henry Lowe, now has a fresh injection of capital from Canadian firm Atlas Biotechnologies Inc, which has taken a 20 per cent stake in the operation.Atlas has paid US$5.75 million for the...

Published:Wednesday | October 17, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Airport operator Grupo Aeroportuario del Pacifico, GAP, announced plans to invest US$60 million in the first three years of operating the Norman Manley International Airport, NMIA, according to stock market filings.Additionally, the Mexican company...

Published:Wednesday | September 26, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Caribbean Cream Limited, which trades as Kremi, says its ongoing expansion project will increase production capacity by one-third.The factory is currently operating near full capacity. The additional space will serve two purposes: allow the company...

Published:Wednesday | September 26, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

The ban on single-use plastic bags could create a market opportunity prospectively valued at around $3 billion for suppliers of alternative packaging.The ban has local cardboard box maker Jamaica Packaging Industries Limited, JPI, considering...

Published:Wednesday | September 19, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

The fast-growing Bioprist Group, which requires more space to operate, plans to move its headquarters and subsidiary Indies Pharma Jamaica to new and separate locations in St James, following acquisition and retrofitting costs at more than US$4...

Published:Wednesday | September 19, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Productive Business Solutions Limited, PBS, said Tuesday that it expects to make acquisitions in the Colombian market, having become more familiar with how that country does business.PBS started from scratch in Colombia, having turned down the...

Published:Wednesday | September 12, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Digicel Group Limited, whose footprint began in Jamaica, continues to push for acceptance of a debt exchange on US$3 billion of its bonds even as some bondholders threaten legal action, and a default rating looms from a top credit rating agency.The...

Published:Wednesday | September 12, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Audley Shaw, the minister with portfolio responsibility for agriculture, is considering new taxes on coffee that would hand a victory to local producers who have been lobbying for an adjustment to the import cess as a protective blanket around the...

Published:Wednesday | August 22, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Kaya Inc will open a second medical ganja cafe in Falmouth next month, around the same time it expects to become a publicly listed company trading on the Toronto Stock Exchange, the TSX.The Jamaican outfit founded by businessman and ganja researcher...

Published:Wednesday | August 15, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Telecommunications provider Cable & Wireless Jamaica, which trades as FLOW, earned US$183 million ($23 billion) in revenue over six months ending June, derived in part from price increases...

Published:Wednesday | July 25, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Playa Hotels & Resorts Limited expects to recoup its investment in the Jewel Grande and Hilton Rose Hall resort properties acquired under a deal with Sagicor Group Jamaica, in less than five years...

Published:Wednesday | July 25, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Deaf Can! Coffee, a social enterprise that trains deaf workers in the art of coffee and baking, continues to grow its footprint with the addition of a mobile cafe, which would put its barista staff in 13 locations nationwide.And while Deaf Can! is not...

Published:Wednesday | July 18, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Start-up loan broker Finance Hub aims to reduce the hassle of borrowing.It takes time to shop around for the best loan rates but a start-up company, Finance Hub Jamaica Limited, aims to cut that time to about a day.The company acts as broker between...

Published:Wednesday | July 4, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Ratings agency Moody's Investors Service changed its long-term outlook on regional telecoms Digicel Group to negative, arguing that the planned sale of cell towers to reduce debt needs more disclosure.It is rare for Moody's to issue such a change of...

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