Mon | Dec 5, 2022

Stories by Karena Bennett - Business Reporter

Published:Friday | December 2, 2022 | 12:07 AMKarena Bennett - Business Reporter

MFS Capital Partners, formerly known as SSL Venture Capital Jamaica Limited, SSLVC, is finalising the takeover of another business, a connected company known as Micro Financing Solutions Limited. The agreement to acquire 100 per cent of the...

Published:Friday | December 2, 2022 | 1:32 PMKarena Bennett - Business Reporter

It took more than a decade for Amazing Concrete Finishes Jamaica to expand beyond Kingston to its second outlook in Montego Bay, but it’s already looking to extend its footprint beyond Jamaica to six Caribbean markets in three years, bolstered by...

Published:Monday | November 28, 2022 | 12:29 PMKarena Bennett - Business Reporter

Grace Foods and Services, the manufacturing and distribution arm of GraceKennedy Limited, has implemented price increases on some of its goods, effective Monday, November 21. The adjustments on multiple products reflect price hikes of about 5 per...

Published:Friday | November 18, 2022 | 5:52 AMKarena Bennett - Business Reporter

Barita Investments Long Account has joined the line-up of top owners of petroleum marketing company Fesco. Concurrently, the companies through which two of the founding owners hold their stake in Fesco — Tweedside Holdings and Trevor Heaven...

Published:Sunday | November 6, 2022 | 12:08 AMKarena Bennett - Business Reporter

On the heels of its breakthrough into the continental US, Lydford Mining Company is gearing up to supply another new market with aggregates. “In the next two weeks, we will be shipping 8,000 tonnes of the construction grade limestone to a new...

Published:Friday | November 4, 2022 | 12:09 AMKarena Bennett - Business Reporter

Minute Car Rentals Limited has rolled out a new affiliate programme called Minute RentCars, aimed at doubling the fleet it contracts from vehicle owners across Jamaica, with the aim of growing revenue, says CEO Ferone Bryan. The business, which for...

Published:Sunday | October 23, 2022 | 12:09 AMKarena Bennett - Business Reporter

As business along the Caymanas stretch of the Mandela Highway heats up, the Jamaica Urban Transport Company, JUTC, is seeking subfranchisees to serve the newly created routes of Ferry, Kingston to Portmore, St Catherine and Mount Salus to Manor...

Published:Sunday | October 16, 2022 | 12:06 AMKarena Bennett - Business Reporter

Real estate developer of Bay Front Villas and Apartments in Portmore, St Catherine, Richard Lake, has broken ground on a 24-apartment complex to be delivered by September 2023 under phase three of the development. The new complex, to be called the...

Published:Sunday | October 16, 2022 | 12:06 AMKarena Bennett - Business Reporter

Papaya exporter Advanced Farm Technologies Limited has shuttered operations after some 30 years in business. The assets, which include five acres of land in Martha Brae, Trelawny, on which sits a processing facility that spans 17,854 square feet...

Published:Sunday | September 18, 2022 | 12:08 AMKarena Bennett - Business Reporter

State agency Agro-Investment Corporation, AIC, is on the hunt for investors or farmers to plough lands spanning 586 acres in Unity, St Mary, the lease proceeds from which are expected to flow to property owner National Housing Trust. The AIC on...

Published:Sunday | September 18, 2022 | 12:06 AMKarena Bennett - Business Reporter

Microfinance company Dolla Financial has partnered with Innovative Systems on a financial agreement that will allow the tech product retailer’s customers looking to make purchases on credit. The deal marks the second financing arrangement that...

Published:Thursday | September 15, 2022 | 5:35 PMKarena Bennett - Business Reporter

President of the Jamaica Chamber of Commerce (JCC) Ian Neita has sounded alarm over the backlog of cargo ships at the island's port, warning that if importers do not take action to clear goods immediately, it could mean trouble for...

Published:Sunday | September 11, 2022 | 12:05 AMKarena Bennett - Business Reporter

National Environment and Planning Agency, NEPA, has rejected an application for the expansion of a petrol station in Hanover that includes the buildout of a restaurant and other businesses on the property, painting its owner as a repeat rule...

Published:Friday | September 2, 2022 | 12:08 AMKarena Bennett - Business Reporter

Over a thousand acres of arable land are set to make way for the continuing building boom, as lands in Innswood Village in St Catherine which were originally acquired for a major agricultural development by a group of investors headed by business mogul Michael Lee-Chin, are being repurposed for a housing development, the Financial Gleaner understands.

Published:Friday | September 2, 2022 | 12:08 AMKarena Bennett - Business Reporter

Large manufacturing and distribution company Wisynco Group has reported earnings of $4 billion for its 2022 financial year, a 32 per cent profit boost over the previous year. Revenue from operations for the year ended June 30, 2022, was $39.1...

Published:Monday | August 15, 2022 | 8:25 AMKarena Bennett - Business Reporter

Sean Scott is leaving his job as CEO of Canopy Insurance to take on a new role as deputy CEO of the Wisynco Group Limited, another step in the succession planning of the multigenerational beverage and consumer products business. Scott has headed...

Published:Friday | August 12, 2022 | 9:41 AMKarena Bennett - Business Reporter

Construction materials company Arc Manufacturing Limited is converting one of the warehouses at its plant on Bell Road in Kingston into factory space prepares to venture into the manufacturing of steel hollow sections and metal pipes. The two new...

Published:Sunday | July 31, 2022 | 12:10 AMKarena Bennett - Business Reporter

The Jamaica Business Development Corporation, JBDC, has hand-picked 30 micro and small agro-processors for a new programme to test the efficacy of a model aimed at minimising common problems along the agro-processing value chain, which, if...

Published:Friday | July 29, 2022 | 12:10 AMKarena Bennett - Business Reporter

Work on the development of a secondary market for repossessed, movable assets is pressing ahead, the latest move being the engagement of an e-commerce development specialist to design the digital secondary market solution with features that allow...

Published:Friday | July 22, 2022 | 12:09 AMKarena Bennett - Business Reporter

Kraft Jewellers, a business that is majority owned by businessman Winston Mair and which occupies a storefront at Premier Plaza in Half-Way Tree, Kingston, is going out of business. The jewellery and small appliances store which was incorporated...

Published:Sunday | July 17, 2022 | 12:12 AMKarena Bennett - Business Reporter

Dane Nicholson, manager of special investigations in the Fraud Prevention Unit at National Commercial Bank Jamaica, NCB, wants financial institutions to pay greater attention to security features during the development of mobile wallets amid a rise...

Published:Friday | July 15, 2022 | 12:10 AMKarena Bennett - Business Reporter

Exploration of possible solutions to the ageing population crisis in the Caribbean is bending towards governments’ adopting a programme that slashes pension payouts into smaller weekly amounts, while simultaneously delaying payouts beyond the set...

Published:Sunday | July 3, 2022 | 12:08 AMKarena Bennett - Business Reporter

Fuel marketing business Petroleum Company of Jamaica Limited, Petcom, is restructuring. Earlier this month, the board appointed Mike Alexander Hylton as deputy executive chairman and another two or three board-level appointments are expected by the...

Published:Friday | July 1, 2022 | 12:08 AMKarena Bennett - Business Reporter

Flow Jamaica has decommissioned the service of Dekal Wireless, a network that was acquired by the company in 2014 to deepen its reach into rural Jamaica. The decommissioning, which took effect on Thursday, June 30, comes amid an ongoing expansion...

Published:Friday | July 1, 2022 | 12:07 AMKarena Bennett - Business Reporter

Newbie company Gastronomic Concepts is pumping $36 million into the buildout of a lounge branded as Republic, just a year after launching Japanese restaurant brand, Oceano. The company, which was formed in the midst of the COVID-19 pandemic, has...

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