Profit at Barita Investments Limited halved to $480 million in the December first quarter from $1 billion a year earlier due to reduced gains from real estate. Still, Barita’s outlook sees the securities dealer continuing its focus on real estate...
TECHNOLOGY FIRM Productive Business Solutions Limited (PBS), controlled largely by businessman PB Scott, made US$11.4 million (J$1.8 billion) in profit for its full year ending December, or one-third higher than a year earlier. Management described...
THE FALL in Jamaica’s labour productivity concerns the Bank of Jamaica (BOJ), which now sees inflation cooling down in 2025 towards the target range, rather than this year. “The domestic labour market remains very tight,” said BOJ Governor Richard...
UNITED STATES (US)-based Century Aluminum plans to invest up to US$15 million (J$2.3 billion) in the alumina operations at Jamalco in Clarendon this year, which doubles its investment a year earlier. The investments include new equipment, but also...
FINANCIAL CONGLOMERATE JMMB Group benefitted from a double windfall that resulted in the rocketing of its profit and capital. JMMB made profit of $15.1 billion for its December 2023 third-quarter, or 278 per cent more than the $4 billion it made a...
THE PHARMACY chain Fontana Limited bagged $341 million in record profit from its second quarter, which ended in the busy Christmas season. It resulted in a 5.0 per cent growth in profit, in line with the growth in consumer confidence in the period...
THE RESTRUCTURED telecom Digicel Group has officially announced its new nine-member board, led by Chairman Rajeev Suri and includes Jamaican Mariame Robinson. The board includes mostly new faces but continues to have the founder and former Chairman...
The Planning Institute of Jamaica (PIOJ) launched its Inclusive Growth Index Framework (IGIF) which will track the island’s social and sustainability progress annually, as a means of capturing new growth areas in the society overlooked by the main...
Former President and CEO of Jamaica Public Service Company (JPS), Steve Berberich, was recently appointed to lead United States (US)-based renewable energy firm Onward Energy, for which he served as a board member in 2023. “I am grateful for the...
Express Catering Limited (ECL) will seek to raise up to US$12 million (J$1.8 billion) in a bond offer which will fund the completion of its new stores at the Sangster International Airport (SIA). The company already runs several restaurants in the...
Most in the financial sector expect interest rates to remain unchanged until at least March, which reflects a large shift among fincos, according to the latest Bank of Jamaica (BOJ) Inflation Expectation Survey. When polling ended in December, 75...
Parties in the stalled listing of United States (US)-based Music Licensing Inc have traded more statements ahead of pending litigation. Music Licensing Inc’s legal representation in this matter is Davy Karkason Esq from Transnational Matters law...
United Oil and Gas (United Oil) has valued the largest repository within its wider zones of oil exploration offshore Jamaica as being worth J$3.5 trillion, or US$23 billion, at current oil prices. It still, however, needs to prove that substances...
Light and power company Jamaica Public Service (JPS) plans to hire additional maintenance firms to manage its distribution system which includes high-power wires, transformers and over 300,000 poles. JPS operations are split between distribution,...
The Jamaica Stock Exchange (JSE) will by mid-year start offering ‘blue-green’ bond products as part of the island’s push to invest US$5 billion by 2050 to retard the effects of a hotter climate. The sustainability bonds are ‘blue’, which represents...
The Government plans to tackle low growth and worker output by enacting laws that target the reduction of violence. “Violence has a significant drag effect on our economy. Violence has an impact on productivity,” said Prime Minister Andrew Holness...
Having recently purchased a small number of shares that upped its stake in Seprod Limited to just above half of the manufacturing and distribution group, the Musson Jamaica conglomerate is making a takeover offer for more shares in line with market...
Jamaica now faces the challenge of resisting overspending during upcoming elections which could erode the gains of increased fiscal surplus and reduced debt levels since the pandemic. Local government elections are coming this year with general...
The National Water Commission, NWC, will seek to turn the tide on water wastage with a multiyear project aimed at conservation, and tapping into Jamaica’s thriving tourism sector and housing boom. It forms part of plans to reduce the water that...
Tax Administration Jamaica and Bank of Jamaica, BOJ, which regulate various aspects of commerce, want to know more about your online Christmas shopping. It forms part of a wider effort to get more data on digital trade in and outside the island....
Portland Caribbean Fund III has raised US$100 million under the first closing of the new fund. The European Investment Bank, EIB, acted as a key investor in the first phase. The commitment by the bank, which is ultimately owned by member states of...
Telecommunications provider Digicel Group plans to become carbon-neutral by 2050, which means that it will implement projects geared at slashing its impact on the climate to nil — starting now. The globe experienced the hottest summer on record,...
Securities dealer Mayberry Group (MGL), which recently finalised its reorganisation plans, also revealed that it holds $240 billion in funds under management (FUM) or more than tenfold higher than earlier stated levels, as the figure now includes...
Experts will meet with state technocrats today to discuss the implications of raising the island’s hotel room count to 50,000 rooms in five years. The island will benefit from some US$4 billion in investments to develop these new rooms, which...
Lumber Depot, the hardware store in Papine, St Andrew, expects sales growth in 2024 despite declines in the wider construction sector. “We expect to grow sales volumes,” said Chairman Jeffrey Hall, in response to Financial Gleaner queries. The...
