Wed | May 22, 2019

Business

Published:Sunday | May 5, 2019 | 12:21 AM

ADVISORY COLUMN: PRODUCTIVITY Why does your company appear to repeat simple mistakes so often? If you are a manager, it’s exhausting to chase one error after another, doing little more than fighting fires. There may be a better approach: use the...

Published:Sunday | May 5, 2019 | 12:19 AMNeville Graham - Business Reporter

Integrated cannabis firm Epican is now rolling out its second store at a prime location along the Jimmy Cliff Boulevard in Montego Bay otherwise called the Hip Strip. Then later this year, it will add three more retail shops in Negril, Falmouth,...

Published:Sunday | May 5, 2019 | 12:17 AMMcPherse Thompson - Assistant Editor-Business

The Bank of Jamaica (BOJ) is again pointing to plans to introduce a trading platform that is meant to ensure that Jamaica has a liquid foreign exchange market by facilitating transactions among authorised dealers and large cambios. It reaffirmed...

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:Sunday | May 5, 2019 | 12:15 AM

Tesla is increasing the amount of money it will attempt to raise to as much as US$2.7 billion. The Palo Alto, California, electric car and solar panel maker said on Friday that it’s raising the offer due to the positive response from Thursday’s...

Published:Friday | May 3, 2019 | 12:26 AM

When Chris William-son was in the market for a new family car, a timely ad and conversations with a co-worker convinced him to try something out of the ordinary. He bought a BMW 3 Series convertible and covers the payments by renting it to...

Published:Friday | May 3, 2019 | 12:26 AMHuntley Medley - Senior Business Writer

The World Bank is talking up the Jamaican economy and expressing confidence in the government’s policy direction. This week, it announced another US$140 million in loans not originally planned for Jamaica, which adds to its already approved...

Published:Friday | May 3, 2019 | 12:26 AMAvia Collinder - Business Reporter

Mavis Bank Coffee Factory is anchoring a $43-million donor-funded project to upgrade farming practices in the coffee belt, spanning the parishes of St Andrew and St Thomas. The coffee company owned by investor Michael Lee-Chin will itself...

Published:Friday | May 3, 2019 | 12:25 AM

Optimism among American small business owners is showing more signs of ebbing. That’s one of the findings of a semiannual survey of owners released by Bank of America. Forty-eight per cent of the 1,504 owners surveyed predicted that the national...

Published:Friday | May 3, 2019 | 12:24 AMAvia Collinder - Business Reporter

Patty maker Tastee Limited has ended its five-year business relationship with its former franchisee in Portland, Kimani Robinson’s 360 Restaurants Limited. Robinson, whose company now trades as Patty Express, says he remains in the patty business...

Published:Friday | May 3, 2019 | 12:20 AM

The stock market keeps going higher, but fees to own funds keep going lower. Investors paid less to own funds last year than ever before: about US$48 in expenses for every US$10,000 invested, according to a study by fund tracker Morningstar. That’s...

Published:Friday | May 3, 2019 | 12:20 AM

The US$68-million loan to the Jamaican Government from the Inter-American Development Bank, IDB, for implementation of the National Identification System, NIDS, remains in place, despite the Supreme Court’s recent ruling that the legislation...

Published:Friday | May 3, 2019 | 12:20 AMAvia Collinder - Business Reporter

Harmonisation Limited, a state-owned company formed to develop a sprawling resort in Trelawny, is now selling off property in that area, at Silver Sands, but says the disposal of land has no bearing on the project. CEO of Harmonisation Lorna...

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:Friday | May 3, 2019 | 12:18 AM

Jamaica’s homeshare market grew by two-thirds in 2018. Minister of Tourism Edmund Bartlett reported to Parliament on Tuesday that home stays booked through Airbnb grew 62 per cent, from 55,000 to 89,500 guests. Airbnb is the online vacation site...

Published:Friday | May 3, 2019 | 12:17 AMAvia Collinder - Business Reporter

Another 284MW of generating capacity fired by LNG, or liquefied natural gas, is to be added to the national between now and 2020 and Jamaica’s electricity consumers are expected to foot the bill. The Office of Utilities Regulation (OUR) said the...

Published:Thursday | May 2, 2019 | 4:38 PM

Banking conglomerate, NCB Financial Group expects to close the longstanding offer for the acquisition of a majority stake in Guardian Holdings Limited, (GHL) by May 13. That date represents a 10-day extension in the 17-month since it has been...

Published:Thursday | May 2, 2019 | 12:27 AM

The United States Federal Reserve left its key interest rate unchanged and signalled no rate hikes are likely in coming months. The move, which was widely expected, comes amid signs of renewed economic health, but unusually low inflation. The...

Published:Wednesday | May 1, 2019 | 12:38 AM

Warren Buffett's Berkshire Hathaway will finance a bid by Occidental Petroleum for Anadarko, potentially upending Chevron's US$33 billion offer for the energy company. At stake are choice oil and gas fields spread across Texas and New Mexico,...

Published:Wednesday | May 1, 2019 | 12:10 AMSteven Jackson/Senior Business Reporter

Caribbean Cement Company Limited beat expectations when it tripled first-quarter profit in results ­released on the weekend, and the market has ­rewarded the company with a record stock price near $80. Earnings per share at the cement maker...

Published:Wednesday | May 1, 2019 | 12:09 AMAvia Collinder/Business Reporter

Microfinancing firm Sprint Financial Services has introduced two new business lines, purchase order financing and transfers of PayPal payments through newly developed portal SprintFinx.com. The online portal will facilitate settlement of PayPal...

Published:Wednesday | May 1, 2019 | 12:08 AMHuntley Medley/Senior Business Writer

The 80-year-old Shipping Association of Jamaica, SAJ, is at a crossroads of sorts and its leadership recognises this fact. Formed as a trade union of employers of port workers in 1939, the SAJ has been supplying labour to Kingston’s two major port...

Published:Wednesday | May 1, 2019 | 12:08 AMSteven Jackson/Senior Business Reporter

The Ministry of Finance in Trinidad and Tobago approved a licence for NCB Financial Group’s acquisition of Guardian Holdings Limited, GHL, with ‘best wishes’ for the parties to a transaction that has buy-in from shareholders but has been held up by...

Published:Tuesday | April 30, 2019 | 12:15 AM

Marriott is pushing more heavily into home-sharing, confident that its combination of luxury properties and loyalty points can lure travellers away from rivals like Airbnb. The world’s biggest hotel company will soon start taking reservations...

Published:Monday | April 29, 2019 | 9:47 PMSteven Jackson

  One of the three licences needed by NCB Financial for the takeover of Guardian Holdings Limited has been granted by Trinidad’s Finance Minister Colm Imbert under the Foreign Investment Act. There were no updates on the other two...

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