Tue | Dec 1, 2020

Stories by Karena Bennett/Business Reporter

Published:Wednesday | November 25, 2020 | 12:12 AMKarena Bennett/Business Reporter

Severe weather conditions over the past month along with challenges from the COVID-19 pandemic has caused vegetable prices across Jamaica to rise by an average 50 per cent in one week, November 14 to 21. Xavier Charvis, marketing officer at Rural...

Published:Wednesday | November 18, 2020 | 12:08 AMKarena Bennett/Business Reporter

The deal struck between food marketing company Nestlé Jamaica and GraceKennedy member company Dairy Industries Jamaica Limited should bring in an additional $20 million in annualised revenue to the group, in addition to opening up a new market...

Published:Wednesday | November 11, 2020 | 12:11 AMKarena Bennett/Business Reporter

The preliminary designs for the residences that will cut Pulse’s pathway into the residential real estate market are ready, and March is being targeted as the date to begin construction. Pulse Homes is one end of a two-part project that modelling...

Published:Wednesday | November 11, 2020 | 12:07 AMKarena Bennett/Business Reporter

Stationery and Office Supplies Limited, SOS, has acquired another property in Kingston for $15 million. The quarter-acre property at 36 Collins Green Avenue sits adjacent to lands the company bought at 34 Collins Green Avenue back in 2017. Both...

Published:Wednesday | November 4, 2020 | 12:16 AMKarena Bennett/Business Reporter

Half-way through fiscal 2020, two of the largest microfinance companies, Lasco Financial Services Limited and Access Financial Services Limited, have shed nearly three quarters of their earnings, a signal of the pressure facing microlenders in an...

Published:Wednesday | October 28, 2020 | 12:18 AMKarena Bennett/Business Reporter

Food distributor Everything Fresh Jamaica Limited, EFresh, has gotten the nod from the Central Bank of Bahamas for the acquisition of a 60 per cent stake in a company it took a bet on in early 2019. Details of the transaction were not disclosed,...

Published:Wednesday | October 21, 2020 | 12:10 AMKarena Bennett/Business Reporter

Real estate investment trust Kingston Properties Limited, KPREIT, plans to spend no more than $60 million on improvements to its newest acquisition, commercial property at East Ashenheim Road in Kingston, before going to the market in search of...

Published:Wednesday | October 14, 2020 | 12:15 AMKarena Bennett/Business Reporter

Cutting it close, the Supreme Court will hold hearings on whether Key Insurance Company can hold a virtual annual general meeting (AGM), one day ahead of its convening. Chairman Don Wehby thinks it might be too close, and might mean a postponement...

Published:Wednesday | October 14, 2020 | 12:13 AMKarena Bennett/Business Reporter

Caribbean Cream Limited, which trades as Kremi, has pumped $60 million into the acquisition of a half-acre of land that sits next to its head office at 3 South Road in Kingston. The sale, which was completed in June, follows on a $65-million...

Published:Wednesday | October 7, 2020 | 12:06 AMKarena Bennett/Business Reporter

The directors of SSL Venture Capital Jamaica Limited, which reported a tripling of its annual losses to $152.8 million this year, will be discussing the way forward for the company at a board meeting scheduled for next month. The reassessment of...

Published:Wednesday | September 30, 2020 | 12:16 AMKarena Bennett/Business Reporter

A deal struck between Lasco Manufacturing Limited and American company United Cannabis Corporation, UCANN, for the production of cannabis-infused water and other medicinals has been placed on hold. It comes in the wake of UCANN’s filing for...

Published:Wednesday | September 30, 2020 | 12:06 AMKarena Bennett/Business Reporter

Food and financial services group GraceKennedy Limited has made another eight senior management changes, in furtherance of its ambitions towards being a global consumer group that earns the majority of its revenue from overseas holdings. The...

Published:Wednesday | September 23, 2020 | 12:14 AMKarena Bennett/Business Reporter

Salada Foods Jamaica will know next month whether it must change its formulation to accommodate new quota rules for Jamaican beans in its coffee blends, or whether it is its regulator that will be dragged back into line by the Supreme Court. The...

Published:Wednesday | September 9, 2020 | 12:09 AMKarena Bennett/Business Reporter

Poultry producer Jamaica Broilers Group is back to production levels of near 90 per cent and has cleared higher-than-usual inventory levels following a loosening in COVID-19 restrictions between June and August, but there are concerns that the...

Published:Wednesday | September 2, 2020 | 12:37 AMKarena Bennett/Business Reporter

Stationery...

Published:Wednesday | September 2, 2020 | 12:36 AMKarena Bennett/Business Reporter

Tuesday, September 1, should have seen Salada changing the formulation of its instant coffee to include 30 per cent Jamaican beans, up from the 10 per cent that its products now incorporate. Instead, the company has turned to the courts for an...

Published:Wednesday | August 26, 2020 | 12:27 AMKarena Bennett/Business Reporter

Derrimon Trading Company plans to approach the market with an additional share offer, or APO, the first junior market company to join others on the main exchange seeking to raise fresh capital through new share issues, assuming shareholders vote...

Published:Wednesday | August 12, 2020 | 12:42 AMKarena Bennett/Business Reporter

Banking institutions with deposits protected under the Jamaica Deposit Insurance Corporation (JDIC) will not face a premium hike despite the lifting of the limit on protected deposits from $600,000 to $1.2 million. The JDIC currently has 11...

Published:Wednesday | August 5, 2020 | 12:24 AMKarena Bennett/Business Reporter

Mapco Printers, a company that has operated in Jamaica for 34 years and holds a tenth of the market, has struck a deal that will see the outsourcing of its print productions to competitor Lithographic Printers. The production partnership falls...

Published:Wednesday | July 29, 2020 | 12:24 AMKarena Bennett/Business Reporter

A digital transformation programme started by the GraceKennedy conglomerate three years ago has been elevated within the group as a strategic priority. Not only has GK set up a Digital Transformation Steering Committee, chaired by Group CEO Don...

Published:Wednesday | July 8, 2020 | 12:12 AMKarena Bennett/Business Reporter

A plan put forward by CEO Zachary Harding for SSL Growth Equity Limited, which trades as SSL Group, to create a private equity subsidiary is now off the table. Instead, SSL Group has announced the formation of a legally separate entity, Delta...

Published:Wednesday | July 1, 2020 | 12:09 AMKarena Bennett/Business Reporter

A recent hike in prices by Jamaica’s sugar producers and marketers has not found favour with the Sugar Industry Authority, SIA, which views the decision as tone-deaf, coming as it is in the middle of a pandemic and a slew of job losses. The 9.2 per...

Published:Wednesday | June 3, 2020 | 12:15 AMKarena Bennett/Business Reporter

Big poultry companies Jamaica Broilers Group and Caribbean Broilers say they are likely to still be holding record-high inventory of chickens for the next six months. That might have been good news in normal times for a country that favours poultry...

Published:Wednesday | May 20, 2020 | 12:29 AMKarena Bennett/Business Reporter

Red Stripe Jamaica and Pepsi Jamaica will be giving away 6,000 cases of beverages, a move that serves not only to give the sellers of liquor the stock to bring back life to their businesses, but also positions the brewery to ramp up sales as...

Published:Wednesday | May 20, 2020 | 12:28 AMKarena Bennett/Business Reporter

Hard hit by the slowdown in the economy, and with some in the sector facing bankruptcy, microlenders are seeking a lifeline from Government in the form of $8 billion of cheap credit. Blossom O’Meally-Nelson, chairman of the Jamaica Association for...

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