Barita Investments Limited isn’t ready yet with a date on when it plans to start developing the large property holdings it controls. “We are doing market studies and getting the market information to put forward the right inventory into the market...
Key Insurance Company Limited wants to grow its travel insurance business to offset rising costs related to its core motor segment. The company launched a travel insurance portal on its website this year, ahead of the summer Olympic Games being...
The planned addition of a 300-metre safety zone to the runway at Norman Manley International Airport, NMIA, will cost US$66 million ($10.2 billion), funded by PAC Kingston Airport Limited, the entity that manages the airport. The project is still...
The Urban Development Corporation, UDC, wants a test the viability of building low, middle and high-end homes in seven areas across five parishes, with low-end prices capped at $20 million. The developments can include studios, villas, town houses...
Lasco Distributors Limited and Lasco Manufacturing Limited are thinking of merging to combine their cash and grow their business. It could position them to buy large companies and improve how they operate. “It is something that we have talked...
Petrojam Limited will replace obsolete and unsafe equipment in the first major upgrade of its power distribution facility since the refinery was established six decades ago. Jamaica’s sole petroleum refinery aims to develop “a new power facility,...
The UK company exploring for oil offshore Jamaica has now put a US$70-billion estimate on the value of petroleum reserves likely lying under Jamaica’s waters waiting to be tapped. Were those numbers to be proved through further exploration and...
Securities dealer Barita Investments Limited has said it is among the investors looking to score shares in NCB Financial Group Limited, NCBFG, under the banking conglomerate’s additional public offering of shares that will close in a matter of days...
PVC pipe maker Omni Industries Limited, which aims to list on the Jamaica Stock Exchange, JSE, announced plans to increase exports to one-fifth of total sales, or $400 million, within two years. “Today, with our influx into the Panamanian market, [...
The quarterly profit of Sagicor Group Jamaica Limited declined to $1 billion, or half of year-earlier levels, due to one-off expenses related to insurance contracts and reduced market values on certain investments, including Jamaica bonds. Sagicor...
Relatives of Lundine Anderson of Trouble Hill currently live on sections of his 100-acre farm, allowing them to keep watch over his crops. That solved some of his farm-theft problems, but last November he lost about 20 per cent of his coffee crop...
MPC Caribbean Clean Energy Limited, a regional investor in renewable energy, booked a profit of US$232,000 for the March quarter, which reversed losses of US$39,000 from the prior year, and added momentum to the earnings racked up in the past...
National Commercial Bank Jamaica, NCB, has seen only moderate movement in its non-performing loans amid the near one-third jump in past-due consumer loans and residential mortgages reported across the wider banking sector. “We are not seeing the...
Omni Industries Limited, a maker of PVC plastic pipes and crates, is floating its shares on the market to raise $500 million to finance the company’s expansion and modernisation agenda. “This IPO and offer for sale will also allow us to deepen our...
New Fortress Energy, NFE, the company that fuelled Jamaica’s shift towards liquefied natural gas, this week announced plans for a similar transition in Puerto Rico. The American company also plans to raise cash in Brazil via an initial public...
The IFC, the private sector arm of the World Bank Group, plans to invest US$15 million and provide technical support in the ongoing second round of funding for Portland Caribbean Fund III, managed by Portland Private Equity. The IFC investment...
Medical marijuana company Jacana will shutter one of its four, saying ineffective regulation, including the inability to deliver products on par with illicit ganja operators, has hurt its viability. “We need to be commercially competitive with the...
Jamaica’s aviation regulator wants to develop a master plan that addresses expected passenger growth, the dearth of local operators, and the impact of aircraft such as drones, the technology around which is still emergent. The plan, to span 25...
The Jamaican Government plans to start generating real-time data on the millions of persons entering the country by air and sea, using face scans and other biometric information that will be accessible by local and overseas law enforcement. It will...
Jamaica’s banking sector provides stability but might not be competitive enough, despite improvements in recent years. That, on the face of it, is the upshot of a new study done by Fair Trading Competition, FTC, of the $2.4-trillion commercial...
The merger of two conglomerates resulted in the enlarged Pan Jamaica Group Limited, PJG, earning “record” net profit at $3.7 billion, but the portion that’s attributable to stockholders of the company dipped year-on-year. The majority of the non-...
Wigton Windarm Limited announced the appointment of Michelle Chin Lenn as its interim managing director effective next month. The current head of the business, Earl Barrett, will demit office on March 31. The timeline coincides with the schedule...
Recent rains have led to nearly $500 million in lost coffee crops. Farmers lost up to 30 per cent of their beans, which were often too fat to hang on to the tree limbs after getting soaked by continuous downpours. “You couldn’t get pickers to go...
American natural gas supplier New Fortress Energy, NFE, racked up record profit of US$548 million year, bettering its previous annual outturn by 180 per cent. “This year was a record by all of our reported metrics,” said Wes Edens, NFE president...
