Thu | Nov 26, 2020

Stories by Karena Bennett - Business Reporter

Published:Sunday | August 30, 2020 | 12:47 AMKarena Bennett - Business Reporter

An investigation is now underway to determine the cause of a system outage JMMB Bank has been experiencing since Wednesday, which has affected online banking services on the Moneyline platform. The financial group, which operates in Trinidad...

Published:Sunday | August 23, 2020 | 12:14 AMKarena Bennett - Business Reporter

Coffee producer Salada Foods Jamaica Limited is again being pressured by the Jamaica Agricultural Commodities Regulatory Authority (JACRA) to add another 20 per cent local coffee to its blended Mountain Peak brand of instant coffee, for which the...

Published:Sunday | August 23, 2020 | 12:10 AMKarena Bennett - Business Reporter

Lasco Financial’s microfinance arm has booked losses of $650 million on impaired loans, a disclosure made in its newly released annual report that better defined the scope of the fallout from the coronavirus that the company first warned about a...

Published:Friday | August 21, 2020 | 12:21 AMKarena Bennett - Business Reporter

FosRich Company Limited has adjusted its credit terms for some customers and implemented a seven-day limit for payment of goods bought on credit across several of its business lines to lower its risk of impairments. The lighting company, which on...

Published:Sunday | August 16, 2020 | 12:00 AMKarena Bennett - Business Reporter

Ministry of Industry, Commerce, Agriculture & Fisheries, MICAF, has reopened the borders for the importation of Irish potatoes and onions to meet rising demand as the economy reopens...

Published:Friday | August 14, 2020 | 12:23 AMKarena Bennett - Business Reporter

Approved retirement schemes, or ARS, which were crafted as a solution to bringing more Jamaicans into the pension net, have performed at less-than-desirable levels largely due to infrequent and small savings by subscribers to such schemes. Data...

Published:Friday | August 7, 2020 | 12:09 AMKarena Bennett - Business Reporter

Food and financial services conglomerate GraceKennedy Limited bucked what has been one of the toughest six months for businesses worldwide, to close on the upside with a $5 billion boost in revenues to $56.5 billion. The results were partly...

Published:Friday | July 24, 2020 | 12:18 AMKarena Bennett - Business Reporter

Listed companies not among the sixteen that got special approval from the Supreme Court to include an electronic component in their annual general meetings are weighing options, including amendments to articles of incorporation, to meet their...

Published:Friday | July 24, 2020 | 12:00 AMKarena Bennett - Business Reporter

Michael Drakulich, principal owner and chief executive of the Mystic Mountain eco-attraction, will make another attempt today at convincing bondholders to delay interest and principal payments on its US$8-million bond for at least a year as the...

Published:Friday | July 17, 2020 | 12:21 AMKarena Bennett - Business Reporter

Caribbean Cream Limited, which trades as Kremi, has reported a 31 per cent increase in profit for its first quarter ending May, a result the ice cream maker partly attributes to its ability to continue manufacturing during the COVID-related...

Published:Sunday | July 12, 2020 | 12:16 AMKarena Bennett - Business Reporter

Phase one of Ruthven Towers, the residential development that sparked concerns over unit prices that were more expensive than those normally set by the National Housing Trust, NHT, will soon be placed on the market. The NHT subsequently returned to...

Published:Friday | July 10, 2020 | 12:19 AMKarena Bennett - Business Reporter

In three weeks, Community...

Published:Sunday | July 5, 2020 | 12:12 AMKarena Bennett - Business Reporter

A spike in demand for factory space by micro, small and medium entities, MSMEs, over the past three years has fast-tracked plans by the Factories Corporation Jamaica, FCJ, to expand the Garmex Free Zone and Commercial Complex in Kingston for...

Published:Friday | July 3, 2020 | 12:28 AMKarena Bennett - Business Reporter

C inema operator Palace Amusement Company has sought financial assistance from its bankers to cover fixed expenditures amid a fall-off in revenues at its theatres. The disclosure was made by the company on Wednesday in a market notice posted on...

Published:Friday | June 26, 2020 | 12:23 AMKarena Bennett - Business Reporter

Jamaica Stock Exchange and sixteen listed companies Jamaica Stock Exchange were on Wednesday given approval by the Supreme Court to hold their annual general meetings by full or partial electronic means. The representative action led by the JSE,...

Published:Friday | June 26, 2020 | 12:12 AMKarena Bennett - Business Reporter

Investment promotion agency Jampro on Wednesday pitched seven limestone packages to local and investors geared at exploiting around 50 billion tonnes of reserves laying idle across Jamaica. It is an initial step towards commercialising some 150...

Published:Friday | June 26, 2020 | 2:48 PMKarena Bennett - Business Reporter

Chukka Caribbean Adventures will add Caymanas Park Racing Track Tours to its line-up. The new sporting option follows on an agreement signed between Chukka Caribbean and Supreme Ventures Limited last Thursday that will see Chukka offering one-day...

Published:Friday | June 19, 2020 | 12:19 AMKarena Bennett - Business Reporter

Investment promotion agency Jampro has pushed agriculture to the top of its agenda as a first step in getting foreign direct investments, FDI, flowing back into Jamaica post COVID-19. Over the past three years, Jampro has largely secured...

Published:Friday | June 12, 2020 | 12:18 AMKarena Bennett - Business Reporter

WITH MORE business owners utilising recently implemented online business processes at Tax Administration of Jamaica, TAJ, and Companies Office of Jamaica, COJ, the reforms are getting mostly good, but also some mixed reviews. The newly launched...

Published:Sunday | June 7, 2020 | 12:25 AMKarena Bennett - Business Reporter

Efforts to cobble a deal with a local buyer for about 600,000 pounds of coffee, a build-up of beans for which members of the Jamaica Coffee Exporters Association, JCEA, otherwise has no takers, have made little progress. Now with a fresh crop of...

Published:Friday | May 29, 2020 | 12:28 AMKarena Bennett - Business Reporter

LYDFORD MINING will today set sail its first shipment of processed limestone from Reynolds Pier, Ocho Rios, since the outbreak of the coronavirus in Jamaica. In fact, the roughly 35,000 tons in shipment which is valued at US$1 million, also marks...

Published:Friday | May 29, 2020 | 12:26 AMKarena Bennett - Business Reporter

FOOD AND financial services conglomerate GraceKennedy Limited, GK, held what it described as a closed-door ­annual general ­meeting, AGM, on Wednesday, which required a minimum three shareholders to form a quorum. The event was live-streamed in...

Published:Friday | May 22, 2020 | 12:22 AMKarena Bennett - Business Reporter

HAVING FOUND work-from-home arrangements to be beneficial to their operations, BPO firms are now lobbying for the creation of what they call a virtual special economic zone, which would ­require the Jamaican Government to amend the laws around SEZs...

Published:Sunday | May 17, 2020 | 12:07 AMKarena Bennett - Business Reporter

Salada Foods Jamaica’s recent success from a spray-drying test on ­tomatoes has given the company insight into a new line of revenue – offering fruits and ­vegetable-preservation services on a ­commercial scale to offset a portion of the losses it...

Published:Friday | May 15, 2020 | 12:19 AMKarena Bennett - Business Reporter

J AMAICA’S TOP coffee roasters have signalled to the commodity regulator that one of their own, Salada Foods Jamaica Limited, would buy built-up inventory of beans at US$3 per pound. But well-placed sources say that Salada has been buying beans at...

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