JAMAICA PLANS to develop an offshore company registry as its next step in the process to attract a portion of the funds that flow to International Financial Service Centres (IFSC) like the Cayman Islands, Switzerland, and others. “The Companies...
Jamaican influencers can average US$1,000 (J$155,000) per post online but retired sprinter Usain Bolt, with over 14 million followers, can generate 30 times that amount, according to estimates in a state-led publication. Influencers are turning...
Cargo Handlers Ltd (CHL) anticipates growth in 2024 arising from roadworks and the hotel boom in Montego Bay, St James. The revenue and profit at CHL, which operates a major wharf in the city, already hit record levels for its September 2023 year...
Stakeholders have expressed confusion over US-based Music Licensing Inc’s threat of legal action against the Jamaica Stock Exchange (JSE), Cumax Wealth Management Ltd which acted as its broker, along with attorneys and businessmen associated with...
United Oil and Gas Plc will seek funding of US$3 million ($460 million) to carry out final seafloor tests offshore Jamaica, after receiving a two-year extension of its licence, which was due to expire at month end. The company is packaging the...
Consumers are more confident, but businesses are more cautious, new data released on Tuesday shows. Consumer confidence grew to 174.7 points in the fourth quarter of 2023, which was 8.5 per cent higher than in the third quarter, and also an...
Regulators have been engaging with Jamaica’s financial companies on plans for better stress tests to protect the financial sector from a changing climate, and expects to ramp up on the collection of data towards that goal, a new report shows. There...
China Harbour Engineering Company, CHEC, will be constructing a gated residential complex at Mammee Bay, St Ann, on lands revered for its rivers and ancient indigenous settlements, according to an environmental impact assessment or EIA report on...
The combined indices of the Jamaica Stock Exchange, JSE, will likely struggle for two more years to 2025, which is the expected timeline for a smooth landing from the reduction in interest rates seen as the bane of the stock market’s performance....
Scotia Group Jamaica (SGJ) has made $17.2 billion in annual profit, more than its larger peer, NCB Financial, which recently underwent leadership changes. It’s the first time SGJ has beaten NCB in its profit haul since 2013. That said, SGJ remains...
NCB Financial Group received shareholder approval on Tuesday to sell up to 450 million new shares to investors. It puts the potential size of the additional public offering at about $27.8 billion based on the NCBFG stock’s current market price. At...
The Government of Jamaica, GOJ, armed with two credit rating upgrades, will be raising new debt on the international market to pay down US$1.76 billion in existing global bonds. It forms part of steps to methodically reduce the island’s debt burden...
Ice cream maker Caribbean Cream Limited, which trades as Kremi, recorded frosty results in the August quarter despite the record summer heat. Its earnings were sliced in half for the second quarter, from $7.2 million to $3.6 million. However, the...
Investments in wind and solar power generation need to grow at least eightfold to hit and surpass the target of 50 per cent renewables, new documents from power utility Jamaica Public Service Company show. “In order to achieve this target, there...
The two largest airports in Jamaica generated combined revenue of 3.5 billion Mexican pesos in 2022 for the Mexico-based Pacific Airport Group, GAP, which manages them. The flows translated to about US$195 million in the greenback and $29.6 billion...
Technocrats expect the Jamaican economy to grow 3.0 per cent in 2023, or nearly double the pace of the region, as it benefits from recovery and sectors coming back online. The growth, however, ebbs slightly from initial projections of 3.3 per cent...
The Government on Tuesday formally increased the national Budget by $60 billion, or 6.6 per cent, in part to counter the shocks of inflation and fuel hikes largely caused by commodity disruptions in Eastern Europe. These effects of the Russian...
The Planning Institute of Jamaica (PIOJ) will review the Vision 2030 targets that have been projected as milestones on the journey to developed-country status. Currently, about two-thirds of the targets are on track or met, while one-third are...
Ocho Rios in Jamaica topped the list of global honeymoon destinations during the pandemic, but weddings and honeymoons are still down by half, according to large online travel platform Kayak and official government data. The size of the market is...
The Jamaican Government expects the value of mining exports from bauxite and alumina to improve to US$507 million ($77 billion), seven per cent higher than last year, with the pending reopening of the Jamalco plant but there’s still concern over...
Cigarette sales during Christmas and the wider third quarter have served up the highest profit in years for distributor Carreras Limited. The company said that it was able to claw back some market share from illicit cigarette sellers. “The absence...
Dr Nigel Clarke, the minister of finance and the public service, has described the upcoming 2022-23 Budget as a signal of the transition from crisis towards recovery. The medium-term outlook, however, sees lower growth over the next three years...
The Government piled an additional $25.8 billion on to its recurrent budget for this fiscal year, which ends in March. Finance Minister Dr Nigel Clarke tabled on Tuesday a second Supplementary Estimates showing plans to spend $893.05 billion for...
Baking Enterprises Limited, a company held by members of the Hendrickson family, has found a buyer for the nine-acre Bellencita estate in Irish Town that was once the home of National Hero Sir Alexander Bustamante and Lady Bustamante. The historic...
Shareholders of Caribbean Cement Company Limited, CCCL, approved a resolution allowing ultimate parent company Cemex to receive royalties equivalent to four per cent of sales or about $800 million to $1 billion annually, despite some opposition...
