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...
The record summer heat was met with empty taps for Jamaican consumers. National Water Commission, NWC, plans to embark on a series of projects over the long term to relieve drought conditions, but there may also be an ancient solution that saves...
Seprod Limited plans to become a US$1-billion, revenue-generating company in about two years, which requires doubling its annual sales. The food manufacturing and distribution company, which produces brands such as Chiffon margarine, Betty...
Power utility Jamaica Public Service Company, JPS, plans to add nearly 300 megawatts of energy to the national electricity grid in support of the government's 50 per cent renewable energy target. It has put out tenders seeking engineering and...
Businessman and investor Michael Lee-Chin is to meet with Portland Holdings bondholders for a discussion on the company’s liquidity and ending of the hiatus of dividends from NCB. It comes amid delayed payments on bonds issued by Portland. Lee-Chin...
The Government of Jamaica plans to install new software that closes loopholes for traffic ticket evaders. It is inviting consultants to tender solutions this month, and stakeholders met on Tuesday to discuss the business case for implementing the...
Financial conglomerate JMMB Group Limited has grown its country network to four operational territories with the addition of Barbados. The diversification across countries and business lines, management said, was a key factor in the group’s...
Century Aluminum Company, the owners of Jamalco, disclosed on Wednesday that during summer, the power generation unit at the Clarendon-based refinery malfunctioned, costing the company about US$22 million. The loss translates to $3.4 billion in...
Local coffee traders are facing a hot dilemma over the fulfilment of US$100,000 worth of orders to China. If the beans are shipped, Customs in China may allow them to be cleared and sent through to customers, but it’s just as likely that the...
