Mon | May 16, 2022

Stories by Huntley Medley - Associate Business Editor

Published:Sunday | May 15, 2022 | 12:09 AMHuntley Medley - Associate Business Editor

Ambassador Richard Bernal has had a varied professional life that included a 10-year stint as Jamaica’s ambassador to the United States and as a Caribbean representative on the board of the Inter-American Development Bank (IDB). Many of the issues...

Published:Sunday | May 15, 2022 | 12:07 AMHuntley Medley - Associate Business Editor

A senior World Bank official is seeking to assure Jamaica and other countries that they need not fear being squeezed out of the funding pipeline because of the large amounts of money the multilateral agency has had to be funnelling to the eastern...

Published:Friday | May 13, 2022 | 12:09 AMHuntley Medley - Associate Business Editor

The continuing delay in bringing closure to proposed changes to tax laws and policies remains a source of irritation to the group that represents chartered accountants in Jamaica. As a result, Allison Peart, president of the Institute of Chartered...

Published:Friday | May 6, 2022 | 12:09 AMHuntley Medley - Associate Business Editor

A one-year catastrophe bond, or cat bond, underwritten by the World Bank and which provides Jamaica with US$185 million in insurance coverage in the event of a natural disaster, comes up for review in December, and already the multilateral...

Published:Friday | May 6, 2022 | 12:07 AMHuntley Medley - Associate Business Editor

Another global recession is looming and appears inevitable, a panel warned on Wednesday during a forum, convened by financial conglomerate Sagicor Group, to brief investors on investment strategies and world geopolitical and economic developments....

Published:Friday | April 29, 2022 | 12:13 AMHuntley Medley - Associate Business Editor

Bank of Jamaica, BOJ, which coordinates the national payments system in Jamaica and chairs the statutory body, the National Payments System Council, NPSC, says the transition to a new messaging system for financial institutions is inevitable, and...

Published:Friday | April 29, 2022 | 12:11 AMHuntley Medley - Associate Business Editor

The future of Jamaica’s economic ties with the United States, the world’s largest economy and Jamaica’s largest trading partner, rests on the pillars of entertainment, tourism and remittances, noted economist, Caribbean trade negotiator, academic...

Published:Friday | April 22, 2022 | 12:08 AMHuntley Medley - Associate Business Editor

Omar Brown, at 41 years old, says heading up Alliance Financial Services Limited, AFSL, which he has been doing since April 1, was never specifically in his plans. But heading up an organisation as chief executive officer certainly was. That’s why...

Published:Wednesday | April 20, 2022 | 12:07 AMHuntley Medley - Associate Business Editor

Amid soaring prices for building materials and increased labour costs for workers, who had to be housed on-site amid the raging COVID-19 pandemic, businessman and real estate developer Manoj Ramchandani recently put on the market his maiden...

Published:Thursday | April 14, 2022 | 12:09 AMHuntley Medley - Associate Business Editor

Sagicor Group Jamaica chose Omar Brown to head up the remittance and cambio business it acquired last month to anchor what appears to be a new expansion strategy. The growth plan will see Sagicor Bank utilising Alliance Financial Services Limited’s...

Published:Sunday | April 10, 2022 | 12:06 AMHuntley Medley - Associate Business Editor

The Russian invasion, continued occupation and perpetration of atrocities in Ukraine are influencing the teaching and research agenda of the University of the West Indies. At the same time, the Faculty of Social Sciences on the Jamaican campus at...

Published:Friday | March 18, 2022 | 12:09 AMHuntley Medley - Associate Business Editor

Guna Muppuri’s Bioprist Institute of Medical Sciences, BIMS, part of his multibillion-dollar Grand Ridge Medical City health tourism project, could be assured of its first cohort of students from an effort now under way to recruit Indian and...

Published:Wednesday | March 16, 2022 | 11:34 AMHuntley Medley - Associate Business Editor

After overcoming some setbacks, S Foods, the new boutique supermarket and eatery in the heart of the New Kingston business district, is open, offering shoppers a mixed grocery, café and fast food service complete with veranda seating. S Foods owner...

Published:Sunday | March 13, 2022 | 12:06 AMHuntley Medley - Associate Business Editor

The Inter-American Develop­ment Bank is holding up Jamaica as a raving success story for the global outsourcing industry, more popularly known as business process outsourcing or BPO, but the head of the multilateral financing institution is...

Published:Friday | March 11, 2022 | 12:09 AMHuntley Medley - Associate Business Editor

The Jamaican government and those around the world, as well as business leaders and consumers, are being urged to begin to consider the possibility and dire implications of a new global recession caused by a conflation of factors emanating from the...

Published:Sunday | March 6, 2022 | 12:08 AMHuntley Medley - Associate Business Editor

Jamaica’s operation of a two-tiered corporate tax system that treats regulated and unregulated companies differently is causing a headache for microlenders who are unsure of where they stand. Companies in the sector have been paying the marginal...

Published:Friday | March 4, 2022 | 12:07 AMHuntley Medley - Associate Business Editor

Financial conglomerate Sagicor Group Jamaica is reporting significant earnings for 2021 – the second year of the COVID-19 pandemic – with $17.6 billion in net profit for the year, $17.4 billion of which is attributable to shareholders. That’s 26...

Published:Wednesday | March 2, 2022 | 12:07 AMHuntley Medley - Associate Business Editor

Caribbean Airlines Limited, CAL, is touting a refreshment of its fleet of airplanes, an instalment payment plan for tickets, and a reintroduction of popular Caribbean foods on its flights as lynchpins of a reset of its operations. This...

Published:Friday | February 25, 2022 | 12:09 AMHuntley Medley - Associate Business Editor

The central bank has painted a picture of the financial system as being more than adequately capitalised to deal with any shocks from rising interest rates, with robust monitoring of the banks’ loan books. It is downplaying fears in some quarters...

Published:Friday | February 25, 2022 | 12:08 AMHuntley Medley - Associate Business Editor

Evoking images of the wide-scale collapse of many businesses in Jamaica in the 1990s and the meltdown of the financial sector it triggered as a result of bad bank debts, the Private Sector Organisation of Jamaica, PSOJ, is suggesting that the...

Published:Sunday | February 20, 2022 | 12:09 AMHuntley Medley - Associate Business Editor

Former Sagicor Investments CEO Kevin Donaldson has invested $94.5 million to take a 42 per cent take in tech company Powell Interactive, which operates the QuickCart online delivery business. It is the latest in a string of similar investments by...

Published:Friday | February 11, 2022 | 12:07 AMHuntley Medley - Associate Business Editor

Indebted and insolvent Mystic Mountain Limited, MML, was this week certified bankrupt by the government’s Office of the Supervisor of Insolvency, OSI, after the majority of its creditors voted down a proposal on Tuesday denying the company time to...

Published:Friday | February 4, 2022 | 12:09 AMHuntley Medley - Associate Business Editor

Entrepreneur Kadeen Mairs, head of microfinance firm Dolla Financial Services, is spearheading a new private equity outfit called Dequity Capital Management Limited, DCML, that has so far raised some US$8 million, or around $1.3 billion, and has...

Published:Friday | January 28, 2022 | 12:08 AMHuntley Medley - Associate Business Editor

The do-over of an August 9, 2021 meeting of creditors of the indebted attraction company Mystic Mountain Limited, MML, to try and arrive at an agreement to pay out secured bondholders and avert being formally declared bankrupt and/or having the...

Published:Friday | January 21, 2022 | 12:08 AMHuntley Medley - Associate Business Editor

One year after creditors called their investment for non-payment of bond interest, the takeover of the assets of indebted attractions owner and operator Mystic Mountain Limited, MML, was averted on Tuesday when a ruling was handed down in the...

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