Mon | May 20, 2019

Stories by Steven Jackson - Senior Business Reporter

Published:Sunday | May 5, 2019 | 12:16 AMSteven Jackson - Senior Business Reporter

Jamaica’s banks experience nearly two cyberattacks per week on average, and in one extreme month, hackers made off with $10 million, according to the latest official data. The average losses, however, amount to just over $4 million per month. “For...

Published:Friday | May 3, 2019 | 12:19 AMSteven Jackson - Senior Business Reporter

Jamaican debt at nearly 57 per cent to disposable income appears high, but a top banker says the figure by itself is misleading. David Noel, who heads Jamaica’s No. 2 bank and is also the chief spokesman for the banking sector, says half of the...

Published:Sunday | April 28, 2019 | 12:18 AMSteven Jackson - Senior Business Reporter

NCB Financial Group, which operates Jamaica’s largest bank, expects the second half of its financial year to yield positive returns, with or without the closure of the Guardian deal. The banking group said on Friday that it is awaiting approval on...

Published:Sunday | April 14, 2019 | 12:25 AMSteven Jackson - Senior Business Reporter

Power utility Jamaica Public Service Company, JPS, will commission a US$25 million storage facility in phases this year as a safeguard against power outages. The 24.5 megawatt plant, the first of its kind for Jamaica, will be installed at the...

Published:Friday | April 12, 2019 | 12:38 AMSteven Jackson - Senior Business Reporter

Denning Growth Fund, based in Asia, has pumped US$1.5 million into Flavocure Biotech Inc for an undisclosed equity stake in the company founded by Jamaican businessman and scientist Dr Henry Lowe. The investment will allow the company to fund...

Published:Friday | April 5, 2019 | 12:19 AMSteven Jackson - Senior Business Reporter

Trinidadian businessman Arthur Lok Jack, a key shareholder in Guardian Holdings Limited, GHL, is giving consideration to adjusting a three-year loan arrangement with NCB Financial Group in a bid to appease the finance ministry in Trinidad and...

Published:Friday | April 5, 2019 | 12:17 AMSteven Jackson - Senior Business Reporter

J amaicans will, in a few weeks, be able to buy cryptocurrencies through their local brokers in the second trial of the Blockstation platform by the Jamaica Stock Exchange, JSE, which comes amid a 25 per cent rise in the value of Bitcoin since...

Published:Thursday | April 4, 2019 | 12:23 AMSteven Jackson - Senior Business Reporter

A financing deal struck between Jamaica’s NCB Financial Group and large shareholders of Guardian Holdings Limited, GHL, is turning out to be an impediment to the Jamaican banking conglomerate’s takeover of the regional insurance giant based in...

Published:Friday | March 15, 2019 | 12:36 AMSteven Jackson - Senior Business Reporter

Port company Kingston Wharves Limited plans to set up its third logistics warehouse this year at a cost of between $1 billion and $2 billion. The warehouse will cater to companies trading within the Caribbean, said Kingston Wharves Chairman Jeffrey...

Published:Friday | March 1, 2019 | 12:35 AMSteven Jackson - Senior Business Reporter

Sygnus Credit Invest-ments Limited, SCI, issued credit to an additional six companies in the December quarter, bringing its deals since inception to 16, and is signalling that it has more prospects lined up. But the two-year-old company, while...

Published:Wednesday | February 27, 2019 | 12:26 AMSteven Jackson - Senior Business Reporter

The probability of finding oil offshore Jamaica improved to a one-in-five chance of success, based on an independent report utilising 3D data. The 2019 report also upsized the 2017 baseline estimates of the quantity of possible oil reserves from...

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