Thu | Sep 23, 2021

Stories by Steven Jackson/Senior Business Reporter

Published:Wednesday | September 22, 2021 | 12:09 AMSteven Jackson/Senior Business Reporter

MBJ Airports Limited, operator of the Sangster International Airport in Montego Bay, expects the long-awaited runway extension project there to start this year, and the major infrastructure work should cost about US$70 million, or $10.5 billion. “...

Published:Wednesday | September 15, 2021 | 12:06 AMSteven Jackson/Senior Business Reporter

Fontana Limited, which operates the largest chain of pharmacies, thinks it can continue to adapt and grow earnings amid new variants of the coronavirus and related curfews. The key is to allow customers various methods to shop safely, said CEO Anne...

Published:Wednesday | August 18, 2021 | 12:05 AMSteven Jackson/Senior Business Reporter

Alumina refinery Jamalco says that it benefited from higher commodity prices during the first half of the year, which served to double its revenue, while losses were reduced to a tenth of previous levels. Despite signs of a rebound from the fallout...

Published:Wednesday | August 11, 2021 | 12:06 AMSteven Jackson/Senior Business Reporter

Cemex will be funding a US$30-million ($4.6 billion) upgrade of Caribbean Cement Company’s plant in Kingston, in 2022, to add 30 per cent more capacity at the Rockfort-based facility. “This we believe will be enough to comfortably supply all the...

Published:Wednesday | August 11, 2021 | 12:05 AMSteven Jackson/Senior Business Reporter

Power utility Jamaica Public Service Company, JPS, is exploring the development of three solar plants with combined capacity of 100 megawatts of power. JPS is now doing an initial resource assessment and “rapid” environmental impact assessment for...

Published:Wednesday | August 4, 2021 | 12:11 AMSteven Jackson/Senior Business Reporter

The Jamaican film industry has taken a hit during the pandemic, registering a two-thirds decline, equating to $2 billion, in the value of the business generated from local and overseas films. The film sector was negatively affected by health...

Published:Wednesday | July 21, 2021 | 12:09 AMSteven Jackson/Senior Business Reporter

Consumers and businesses were more confident about economic prospects in the second quarter of 2021 when compared to the prior quarter, but optimism among both groups still lags pre-pandemic levels. The business confidence index increased to 130.8...

Published:Wednesday | July 21, 2021 | 12:07 AMSteven Jackson/Senior Business Reporter

Mayberry Investments plans to raise up to $750 million to finance the acquisition of real estate lots for development. The company operates an investment banking and brokerage firm. It intends to raise the funds in three separate issues, the first...

Published:Wednesday | July 14, 2021 | 12:10 AMSteven Jackson/Senior Business Reporter

Some $13.8 billion worth of NCB Financial Group shares traded on Monday, coinciding with top executives surrendering shares at the banking conglomerate. It was the largest traded volume of NCBFG shares in over two years on the Jamaican stock market...

Published:Wednesday | July 7, 2021 | 12:09 AMSteven Jackson/Senior Business Reporter

Investment company Eppley Limited aims to raise a $1.2 billion from the issue of three classes of preference shares on the Jamaica Stock Exchange this month, which will refinance existing debt. The offer priced at $20 per share will be available...

Published:Wednesday | June 30, 2021 | 12:08 AMSteven Jackson/Senior Business Reporter

Health supplies distributor Medical Disposables...

Published:Wednesday | June 9, 2021 | 12:07 AMSteven Jackson/Senior Business Reporter

Expect moderate inflation going forward due to low productivity and job losses, according to the staff working paper titled ‘Estimating Jamaica’s Potential Output’ from the Bank of Jamaica, BOJ. Even as employment numbers improve relative to 2020’s...

Published:Thursday | June 3, 2021 | 12:07 AMSteven Jackson/Senior Business Reporter

The Jamaican economy is expected to grow by between 7.0 per cent and 9.0 per cent for the April-June 2021 quarter, the Planning Institute of Jamaica (PIOJ) has projected. The positive outlook reflects recovery from heavy declines a year ago when...

Published:Wednesday | June 2, 2021 | 12:08 AMSteven Jackson/Senior Business Reporter

Port company Kingston Wharves Limited, KW, invested $800 million in its terminal operations between January and March, four times more than the funds spent in the similar period a year ago. The expenditure included the acquisition of a new crane...

Published:Wednesday | May 19, 2021 | 12:06 AMSteven Jackson/Senior Business Reporter

Kingston Properties Limited, KPREIT, has invested US$1 million in a real estate fund based in the United States, which gives the real estate investment trust measured exposure to the American market. “We invested the sum in a real estate private...

Published:Wednesday | May 5, 2021 | 12:09 AMSteven Jackson/Senior Business Reporter

Supreme Ventures Limited, SVL, announced the purchase of a 10-per cent stake in Main Event Entertainment Group Limited, an events production company valued at $1.05 billion on the stock market. The stake bought by SVL Group would be valued around $...

Published:Wednesday | March 31, 2021 | 12:22 AMSteven Jackson/Senior Business Reporter

Silicon Valley-based Uber Technologies has announced plans to enter Kingston with its services. Uber sent out notifications to potential operators on Monday for persons to register as drivers. The company operates what it describes as a ride-...

Published:Friday | February 19, 2021 | 12:21 AMSteven Jackson/Senior Business Reporter

The Government has crafted a lean Budget for the upcoming fiscal year, focusing on an ambitious vaccination programme and jobs as linchpins to spark economic recovery. Both the recurrent and capital budgets are flat year on year, but the Government...

Published:Wednesday | January 6, 2021 | 12:08 AMSteven Jackson/Senior Business Reporter

It’s been a slippery slide for the local stock market over the past two years and the pandemic has made matters that much worse. From the best performing exchange in the world in 2018 repeating a spectacular feat it first accomplished in 2015, to...

Published:Wednesday | December 30, 2020 | 12:10 AMSteven Jackson/Senior Business Reporter

Caribbean retail investors have tendered millions of dollars’ worth of old US dollar-denoted bonds from Digicel, as part of a regional deal to give them a final chance to join other bondholders from around the world in a global debt exchange....

Published:Wednesday | December 30, 2020 | 12:08 AMSteven Jackson/Senior Business Reporter

Alliance Financial Services Limited has announced the suspension of its initial public offering, IPO, in order to allow regulators to assess a matter pertaining to a separate company held by its principals. “The matter has nothing to do with...

Published:Wednesday | December 16, 2020 | 12:09 AMSteven Jackson/Senior Business Reporter

The Jamaica Stock Exchange JSE, expects in a matter of days to launch a portal for private bonds issued under exemption of public disclosure, aiming to make the bulk of these assets valued at around $480 billion more liquid and tradable. It forms...

Published:Wednesday | November 25, 2020 | 12:07 AMSteven Jackson/Senior Business Reporter

Remittance flows to Jamaica have risen nearly 40 per cent in the September quarter, a spike that is being attributed in part to changing travel patterns, as well as crisis support since the pandemic, according to Bank of Jamaica Governor Richard...

Published:Wednesday | October 21, 2020 | 12:15 AMSteven Jackson/Senior Business Reporter

Two brokerage firms have placed higher valuations on the NCB Financial Group stock, NCBFG, above its current trading price, notwithstanding differing expectations of the banking conglomerate’s performance under recessionary conditions. The stock...

Published:Wednesday | October 21, 2020 | 12:07 AMSteven Jackson/Senior Business Reporter

People are still using cheques but since the onset of the COVID-19 pandemic usage has dropped by one-third, according to data from the Bank of Jamaica, BOJ. In an era of physical distancing the use of cheques seems less efficacious. Just over $100...

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