Mon | Sep 21, 2020

Stories by Steven Jackson - Senior Business Reporter

Published:Sunday | September 20, 2020 | 6:30 AMSteven Jackson - Senior Business Reporter

Jamaica Energy Partners, JEP, an operator of power plants and producer of electricity, is considering entering the electric vehicle charging market. “Our group, having started the listed operations in the Dominican Republic, entry into Panama and...

Published:Friday | September 18, 2020 | 12:13 AMSteven Jackson - Senior Business Reporter

Caribbean Cement Company Limited may resume cement exports to the region, but says if it does, it won’t be at the expense of the Jamaican market. The cement producer supplies the bulk of the local market from its production facility at Rockfort in...

Published:Friday | September 18, 2020 | 12:10 AMSteven Jackson - Senior Business Reporter

Productive Business Solutions, PBS, which sells printers, scanners and security devices, continues to shift towards technology services, with contracts from a major American retailer to add internet connectivity to supermarkets in five countries...

Published:Thursday | September 10, 2020 | 6:17 PMSteven Jackson - Senior Business Reporter

Some 50,000 customers took up Scotia Group Jamaica’s waiver of interest on some loans and credit cards during the May-July quarter. Within that period, the No. 2 banking group made net profit of $1.5 billion, but that was just over a third of what...

Published:Tuesday | September 8, 2020 | 7:13 PMSteven Jackson - Senior Business Reporter

Sagicor Group Jamaica plans to do a real estate development in Spanish Town, St Catherine, says President and CEO Christopher Zacca. It follows acquisition of a majority stake in start-up real estate venture Bailey-Williams Limited, last year. “It...

Published:Sunday | September 6, 2020 | 12:06 AMSteven Jackson - Senior Business Reporter

Investors tend to trade stocks lower during the month of general election, but not so this time around. There was a rise in the JSE Combined Index both on the day of polls and the day after, albeit marginal movements that amounted to less than a...

Published:Friday | September 4, 2020 | 10:47 AMSteven Jackson - Senior Business Reporter

The Jamaica Stock Exchange, JSE, eked out trading gains on election day within the wider context of the stock market and real economy in decline, due to the contractionary effects of the COVID-19 pandemic. It came amid news from the JSE after...

Published:Sunday | August 30, 2020 | 12:55 AMSteven Jackson - Senior Business Reporter

Blue Mountain Bicycle Tours is investing millions to expand its zipline attraction at Cedar Valley despite the COVID-19 pandemic, which could further delay the opening of the ride. The project involves setting up a second zipline, which would...

Published:Friday | August 14, 2020 | 12:22 AMSteven Jackson - Senior Business Reporter

Workers planning to retire this year with a pension might want to reconsider and wait for a year or two, before they start pulling down on their retirement benefits, pension experts say. The advice stems from the decline in the value of pension...

Published:Friday | August 14, 2020 | 12:20 AMSteven Jackson - Senior Business Reporter

Playa Hotels...

Published:Friday | August 7, 2020 | 12:08 AMSteven Jackson - Senior Business Reporter

New Fortress Energy, NFE, doubled its revenues in the June quarter to US$76 million, strengthened in part by earnings from its power facility at Jamalco which came on stream in March. In newly released financials, New Fortress reported that US$45...

Published:Sunday | August 2, 2020 | 12:13 AMSteven Jackson - Senior Business Reporter

Jamaican stock market investors are trading more online, with volumes already surpassing the levels seen in all of 2019, due in part to lockdown measures against the coronavirus. It shows that while slow, there is incremental transition to online...

Published:Sunday | July 26, 2020 | 12:15 AMSteven Jackson - Senior Business Reporter

In keeping with demand, medical masks, hand sanitisers and detergents aimed at fighting the spread of the coronavirus, dominate supplies in warehouses operated by Medical Disposables...

Published:Friday | July 17, 2020 | 12:11 AMSteven Jackson - Senior Business Reporter

The Jamaican economy lost $4.5 billion of real value in the March quarter, numbers that capture just the first three weeks of virus-containment measures that were cited as the cause of the decline. Economic output, measured as gross domestic...

Published:Sunday | June 28, 2020 | 12:18 AMSteven Jackson - Senior Business Reporter

Jamaican telecommunications companies Digicel and FLOW continue to voice concerns that some new directives by the Office of Utilities Regulation (OUR) to mitigate against shock bills and credit depletion could negatively affect their financials....

Published:Sunday | May 24, 2020 | 12:13 AMSteven Jackson - Senior Business Reporter

Aurora, a Canadian listed cannabis company, has sold its Jamaica asset for less than its CDN$4.5 million ­valuation in order to get cash. “The company also accepted an offer to sell its Jamaica property for gross proceeds of CDN$3.4 million,” said...

Published:Friday | May 15, 2020 | 12:13 AMSteven Jackson - Senior Business Reporter

PLAYA RESORTS, which operates hotels in Jamaica, Dominican Republic and Mexico, plans to reopen in July with the pitch of the resorts being a safe space away from the pandemic. The closure of the 23 hotels in its chain since late March will cost...

Published:Sunday | May 10, 2020 | 12:22 AMSteven Jackson - Senior Business Reporter

The operator Jamaica’s two largest airports wants to scrap or delay non-essential capital projects. It forms part of a wider halt of capital projects by the Grupo Aeroportuario del Pacífico – which translate to Pacific Airport Group, or GAP –...

Published:Tuesday | May 5, 2020 | 4:53 PMSteven Jackson - Senior Business Reporter

New Fortress Energy, NFE, is suggesting gas assets will remain competitive, notwithstanding the collapse in oil prices to levels that are comparatively cheaper than natural gas. That’s due to lower maintenance costs and also the expectation that...

Published:Sunday | May 3, 2020 | 12:00 AMSteven Jackson - Senior Business Reporter

king conglomerate NCB Financial Group Limited announced that it has taken a $9 billion hit from COVID-19 so far, with the writedown of investments and foreign currency losses in the March quarter, but it also doubled its provision for credit losses...

Published:Friday | April 24, 2020 | 12:00 AMSteven Jackson - Senior Business Reporter

TRAINING INSTITUTE iCreate Limited plans to slash costs by one-third to cope with the COVID-19 outbreak and reduce losses highlighted by its auditors. The company needs to shed costs, including $12.5 million in bank overdrafts as at December, to...

Published:Sunday | April 19, 2020 | 12:18 AMSteven Jackson - Senior Business Reporter

Digicel Group chairman Denis O’Brien has put up the telecoms regional headquarters on the Kingston waterfront as collateral under a debt deal with bondholders. The Digicel founder committed to putting up US$50 million – half in cash and the rest in...

Published:Friday | April 17, 2020 | 12:19 AMSteven Jackson - Senior Business Reporter

JAMAICA’S LARGEST insurance conglomerate, Sagicor Group, says it can weather a three-month shutdown of the country without too big a financial impact, but the longer the health crisis lasts, the more risks the company faces. Sagicor has gamed out...

Published:Friday | April 3, 2020 | 12:23 AMSteven Jackson - Senior Business Reporter

TELECOMMUNICATIONS COMPANY Digicel Group announced a halt to interest payments to bondholders for 30 days, which led the rating agency Fitch to downgrade its bonds to ‘C’. Digicel defended its move as an allowed measure, saying the delay comes...

Published:Friday | March 27, 2020 | 12:10 AMSteven Jackson - Senior Business Reporter

GUEST HOUSE operator Shelly-Ann Johnson is looking to stranded visitors to fill rooms that are being emptied by travel restrictions to stem the spread of the coronavirus. “We want to be a beacon of hope for travellers currently in the island,”...

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