Sun | Sep 22, 2019

Business

Published:Sunday | September 22, 2019 | 12:33 AMMcPherse Thompson - Assistant Editor-Business

The Jamaican Government’s repurchase of a portion of its external debt last week will result in annual interest savings of about US$18 million, or just over $2.5 billion, Finance Minister Dr Nigel Clarke said on Friday. The transactions, in which...

Published:Sunday | September 22, 2019 | 12:33 AMKarena Bennett - Business Reporter

Advanced Integrated Systems Limited, (AIS), a tech solution company formed by Douglas Hallsall some 30 years, is finalising plans for the soft launch of an e-commerce platform called Q-Mall next month. The platform’s debut in October is expected...

Published:Sunday | September 22, 2019 | 12:31 AMNeville Graham - Business Reporter

Closing arguments in the Arc Systems case began in the Supreme Court on Thursday but won’t conclude until the end of October due to time constraints and scheduling conflicts. Justice David Batts is hearing an application from Exclusive Holidays of...

Published:Sunday | September 22, 2019 | 12:24 AM

QUESTION: I own a three-bedroom house. It is not insured. The estimated replacement value is $40 million. Insurance coverage was terminated about two years ago after I repaid the mortgage. I am now very worried. This is because of the damage...

Published:Sunday | September 22, 2019 | 12:23 AM

A few days ago, the Solomon Islands, Taiwan’s largest ally in the Pacific, recognised China. Beijing’s success in encouraging the island grouping to do so is the latest indication of the way in which China’s international influence continues to...

Published:Sunday | September 22, 2019 | 12:23 AM

Health insurance is a type of insurance that pays a significant portion of the medical and surgical expenses incurred by the insured. In some cases, the insurance company pays the health service provider directly. In others, the insured pays and is...

Published:Sunday | September 22, 2019 | 12:23 AM

As a manager, have you ever been shocked at someone’s adverse reaction to a seemingly innocuous email? Perhaps you also wondered what was wrong with them then questioned your own judgement. The answer is that neither the sender nor receiver is at...

Published:Saturday | September 21, 2019 | 1:25 PMSteven Jackson

  Private equity firm Proven Investments Limited plans to sell up to three-quarters of its holdings in Access Financial Services Limited, a micro lender with holdings in Jamaica and the United States. That base transaction would generate $2.19...

Published:Friday | September 20, 2019 | 10:15 AMMcPherse Thompson - Assistant Editor-Business

  The Bank of Jamaica, BOJ, is projecting that the increased use of liquefied natural gas in electricity generation in the December 2019 quarter is expected to translate into relatively lower electricity rates. International oil prices are...

Published:Friday | September 20, 2019 | 10:10 AMHuntley Medley - Senior Business Writer

  Chairman of J Wray & Nephew Limited Clement ‘Jimmy’ Lawrence has taken the reins as chairman of the Spirits Pool Association Limited, the 87-year-old umbrella organisation made up of rum distillers in Jamaica, amid a quarrel...

Published:Friday | September 20, 2019 | 12:27 AMKarena Bennett - Staff Reporter

Businessman Gassan Azan has already pumped $200 million into the acquisition of 100 acres of land in Lakes Pen, St Catherine, setting the foundation for a large farming operation that will eventually span four times that land space once he can...

Published:Friday | September 20, 2019 | 12:27 AM

The Jamaican Government has entered into a new agreement with the People’s Republic of China for the export of frozen lobster to the Asian country. Minister of Industry, Commerce, Agriculture and Fisheries Audley Shaw and Chinese Ambassador to...

Published:Friday | September 20, 2019 | 12:27 AM

Airbnb Inc said Thursday it plans to go public in 2020, a long-awaited move by the home-sharing company that is both loved and reviled for its disruption of the accommodation sector. Airbnb disclosed the news in a brief statement. It didn’t give a...

Published:Friday | September 20, 2019 | 12:19 AM

California’s governor on Wednesday signed sweeping labour legislation that aims to give wage and benefit protections to ride-share drivers at companies such as Uber and Lyft, and to as many as a million workers across other industries. The closely...

Published:Friday | September 20, 2019 | 12:19 AM

Japan’s central bank opted Thursday to keep its monetary policy unchanged despite the growing signs of trouble that prompted the Federal Reserve to cut its benchmark rate. The Bank of Japan (BOJ) said in its policy statement that exports,...

Published:Friday | September 20, 2019 | 12:18 AM

A recession looms for Germany, and the European Central Bank is pleading for governments to spend more to revitalise economic growth. Yet despite having the luxury of borrowing money for less than nothing, the German government is keeping a tight...

Published:Friday | September 20, 2019 | 12:18 AM

The Bank of England kept its main interest rate unchanged at 0.75 per cent Thursday, its last scheduled interest rate decision before the United Kingdom is due to leave the European Union. In a statement, the bank said all nine of its rate-setters...

Published:Friday | September 20, 2019 | 12:18 AM

Dominion Energy announced plans Thursday to seek approval to build what it says would be the largest offshore wind project in the United States off the Virginia coast. The company told The Associated Press ahead of a public announcement that the...

Published:Friday | September 20, 2019 | 12:18 AMSteven Jackson - Senior Business Reporter

Financial conglomerate JMMB Group Limited expects to more than double its annual profit by March 2022 to $9 billion, arising from the stake being acquired in Barbados-based regional insurance provider Sagicor Financial. The Jamaican company is...

Published:Friday | September 20, 2019 | 12:16 AM

The possible sale of Sandals Resorts International’s chain of hotels is back in the news, but CEO and Deputy Chairman Adam Stewart is playing down the report as nothing new. The last time such reports surfaced was in 2017. Stewart did not...

Published:Friday | September 20, 2019 | 12:16 AM

The fiery protests in Hong Kong are a tremendous headache for Beijing. The images of thousands of black-clad, middle -class kids, converging into the heart of the financial district in order to confront the police, strike pangs of fear deep into...

Published:Friday | September 20, 2019 | 12:12 AMHuntley Medley - Senior Business Writer

Over the past eight years, the Branson Centre of Entrepreneurship Caribbean has invested more than US$1 million to help scores of entrepreneurs launch and grow their businesses. That has largely been money from its initial 10-year grant – the size...

Published:Thursday | September 19, 2019 | 12:26 AM

A sharply divided US Federal Reserve cut its benchmark interest rate Wednesday for a second time this year, but declined to signal that further rate cuts are likely this year. The Fed’s move reduced its key short-term rate – which influences many...

Published:Wednesday | September 18, 2019 | 12:29 AM

The British government and its ­opponents faced off Tuesday in the UK Supreme Court in a high-stakes legal drama over Brexit that will ­determine whether new Prime Minister Boris Johnson broke the law by suspending Parliament at a ­crucial time...

Published:Wednesday | September 18, 2019 | 12:28 AM

Facebook will work with law enforcement organisations to train its artificial intelligence systems to recognise videos of violent events as part of a broader effort to crack down on extremism. Facebook’s AI systems were unable to detect live-...

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