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Business

Published:Friday | November 9, 2018 | 12:00 AM

The Ministry of Finance and the Public Service has now advised Auditor General Pamela Munroe Ellis that Chinese outfit Jinquan Iron and Steel Company, which operates the Alpart plant in St...

Published:Friday | November 9, 2018 | 12:00 AM

The project to create a social stock exchange in Jamaica will be executed in two phases, the second of which requires the passage of...

Published:Friday | November 9, 2018 | 12:00 AM

The central bank has maintained its policy rate at two per cent for the last two rate decision cycles, and treasuries are yielding even lower rates, reason enough, says the...

Published:Friday | November 9, 2018 | 12:00 AM

Seprod expanding warehousing spaceSeprod is building out new warehouse space at its main complex in Kingston's industrial zone, which is said to be part of a larger hub that the company will build out over time.Seprod has not disclosed the size of...

Published:Friday | November 9, 2018 | 12:00 AM

Distribution of the newest line of Appleton Estate aged rum pushed Jamaican spirits sales globally beyond €62 million over nine months, according to the brands owners, Campari Group.The drive for increased...

Published:Friday | November 9, 2018 | 12:00 AM

Peru is a mess. Well, not really.The economy is expected to grow only four per cent this year. Inflation is under two per cent. The sol devalued 1.8 per cent during the first 10 months of the year. The current account deficit is...

Published:Friday | November 9, 2018 | 12:00 AM

Real estate assets account for less than five per cent of pension fund portfolios, despite a vibrant property market.It's likely, says CEO of VM Pensions Management Limited Rezworth Burchenson, that fund managers...

Published:Friday | November 9, 2018 | 12:00 AM

Nafta 2.0 could mean more jobs ... for robotsPresident Donald Trump insists his new North American trade deal will deliver a victory for American factory workers by returning many high-paying jobs to the United States.Maybe. But a review of the...

Published:Friday | November 9, 2018 | 12:00 AM

Beyond trying to get their hands on Donald Trump's tax returns, House Democrats are prepared to use their new majority and subpoena power to go after financial records that could back up their...

Published:Friday | November 9, 2018 | 12:00 AM

Google is promising to be more forceful and open about its handling of sexual misconduct cases, a week after high-paid engineers and others walked out in protest over its male-dominated culture.CEO Sundar Pichai...

Published:Thursday | November 8, 2018 | 5:02 PMSteven Jackson

  NCB Financial Group, the parent company of Jamaica's largest bank, National Commercial Bank, reported annual profit of $28.6 billion on Thursday, a new record for the bank. Earnings rose 50 per cent relative to last year’s profit...

Published:Thursday | November 8, 2018 | 12:00 AM

China's foreign currency reserves declined in October in a sign Beijing might be intervening in the market to keep its yuan from falling too far against the dollar and triggering a possible backlash from the United States amid a tariff battle.The...

Published:Wednesday | November 7, 2018 | 12:00 AMAvia Collinder/Business Reporter

Ribbiz Lounge Limited, a causal dining and bar outfit, which operates Ultra Lounge in Barbican, Kingston, has poured $30 million into its second restaurant, which opened last week at the Victoria Pier on the Kingston waterfront.Kemar Bankay, Don...

Published:Wednesday | November 7, 2018 | 12:00 AMAvia Collinder/ Business Reporter

Pro-Vice-Chancellor of Planning for the University of the West Indies (UWI) Professor Densil Williams is describing as incubatory plans to offer shares in the institution via an initial public offering (IPO) that would result in its listing on the...

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 | November 7, 2018 | 12:00 AM

Leaders of the World Bank, International Monetary Fund (IMF) and other global financial organisations warned Tuesday that trade tensions pose a growing risk for emerging economies.With the United States and China embroiled in their worst trade...

Published:Wednesday | November 7, 2018 | 12:00 AM

The United States Federal Reserve is proposing to ease requirements for holding capital and cash for US banks that are big, but not as big as the Wall Street mega-banks.The Fed's proposal is the latest move by federal regulators to relax government...

Published:Wednesday | November 7, 2018 | 12:00 AM

More than a year after Hurricane Maria caught Puerto Rico's government wildly unprepared, officials acknowledge they still haven't come up with a plan to cope with the next such disaster - and it's not clear when they will.The United State territory...

Published:Wednesday | November 7, 2018 | 12:00 AMHuntley Medley/ Senior Business Writer

State-owned provider of export-import lending EXIM Bank Jamaica is hunting fresh cash for what Managing Director Lisa Bell regards as the country's underfinanced productive sector.EXIM Bank is selling the ground floor of the apartment complex, The...

Published:Wednesday | November 7, 2018 | 12:00 AMAvia Collinder/ Business Reporter

Proven REIT and JMMB Fund Managers, companies owned by rival financial firms, have come together to acquire a commercial property, spanning 58,000 square feet of space, at the Portmore Pines Shopping Complex in Greater Portmore, St Catherine.The...

Published:Wednesday | November 7, 2018 | 12:00 AMMcPherse Thompson/ Assistant Editor - Business

The Ministry of Finance and Planning has commissioned a study to assess competition in the space within which commercial banks operate in Jamaica with a view to identifying bottlenecks and impediments and to ensure a more competitive market.Among...

Published:Tuesday | November 6, 2018 | 12:00 AM

North Korean leader Kim Jong Un and Cuban President Miguel Diaz-Canel - both hoping to get out from under United States economic sanctions - have agreed to expand and strengthen their strategic relations, North Korea's state media reported Monday....

Published:Sunday | November 4, 2018 | 12:00 AMSteven Jackson

The Bank of Jamaica, BOJ, which issued its first tweet on Monday, says it's one more medium it can use to curb the spread of misinformation."Ceteris paribus we estimate this to be our first tweet," said the central bank's first message on Twitter....

Published:Sunday | November 4, 2018 | 12:00 AMAvia Collinder

The Airbnb community in Jamaica featured 3,700 active hosts on the company's platform, according to Leila Suwwan of the Airbnb Latin America unit.That's 600 more than the numbers in December when the platform registered 3,100 active hosts and 5,900...

Published:Sunday | November 4, 2018 | 12:00 AM

QUESTION: My vehicle was stolen last year. I reported the incident to the police and my insurer. After waiting patiently for 12 months, they wrote me on October 4, 2018. The letter said that based on investigations, they concluded that the loss was...

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