Ringtail International Inc, an equal joint venture between Select Brands from Jamaica and Stansfeld Scott Inc of Barbados and the United States, is finalising the acquisition of Stone’s Ginger Wine, with expectations to grow the global supply...
The rumble in the spirits market over the composition and redefinition of Jamaican rum is in part driven by a French company that co-owns National Rums of Jamaica Limited, NRJ, industry sources in Jamaica and Barbados have said. The division...
IEC Energy Company Limited, which recently became the majority shareholder of Ciboney Group, has made an offer for the minority shares that’s priced substantially below the former hotel company’s current market price. Still, the mandatory offer is...
The Government of Jamaica has finally invited bids from investors for the provision of an additional 100 megawatts of renewable energy capacity, ending a yearslong wait by the sector. It comes amid refreshed plans and a more ambitious goal to...
VM Investments Limited got whipped by monetary belt-tightening, and falling investor confidence, which pushed down its earnings by 94 per cent in the June quarter. Still the company said its team was “resolute” and would press ahead with growth...
Jamaican stocks sank to new depths last week, pushing the market beyond its lowest point during the height of the coronavirus pandemic. It’s the second time it’s done so since this year. Investors are shifting funds towards fixed-income investments...
The Financial Services Commission, FSC, warned fund managers to stay vigilant to protect against the further erosion of clients’ pension funds, which took a $2 billion beating in the first quarter, amid the continued slide in equities on the stock...
A start-up venture called Offshore Oasis Limited wants to construct and operate an overwater bar attraction that will target business from tourists as well as locals. It’s awaiting approval from the National Environment...
The current heatwave in Jamaica is symptomatic of a wider warming climate that experts think may fuel a once-in-a-lifetime hurricane. And if such conditions were to persist and trigger a 100-year event, Jamaica could face a fallout of more than US$...
Soap maker Blue Power Group Limited is looking to triple its revenue in five years, which would push annual sales above $2.5 billion. The plan rests on the addition of new lines of bath and liquid soaps, including the introduction of special-sized...
PAC Kingston Airport Limited, the Mexican-owned operator of the Norman Manley International Airport, wants assets valued at over $300 million belonging to Flight Connections Limited removed from the airport grounds despite an ongoing legal battle...
Short-term rental listings are on the rise, reflecting new housing stock and a desire to earn foreign currency. But rental rates are also still increasing due to the higher cost of mortgages and other debt. “Hosts in Jamaica are using the extra...
The Private Sector Organisation of Jamaica, PSOJ, plans to list its charity Project STAR on the Jamaica Social Stock Exchange via an initial public offering set to raise $100 million. The social shares will be offered at $1 before month-end. The...
Jamaica grew for eight consecutive quarters to pull itself out from under the coronavirus, but planners want a larger skilled workforce to guard against a return to low growth. The economy grew 2.7 per cent in the March quarter 2023 compared to the...
Power utility Jamaica Public Service Company Limited, JPS, will spend US$18.25 million ($2.83 billion) on specific projects designed to improve the reliability of the electricity grid following a spike in outages. On average, the number of outages...
New rules regarding insurance contracts that have been called the most radical in a decade have carved about $45 billion off the capital base of two of the largest insurance conglomerates that operate businesses in Jamaica. Collectively, Sagicor...
The 15 of 15 Alternative Fund managed by Portland Counsel has exited its holdings of Meta Platforms stock and reacquired shares in luxury brand LVMH, which owns Hennessy and Louis Vuitton. Meta Platforms Inc, which owns Facebook, Instagram and...
Cumax Wealth Management Limited will provide advisory services to American company Music Licensing Inc on its path towards a cross-listing on the Jamaica Stock Exchange by July. Music Licensing is a small music rights firm with a big catalogue. It...
The partners in Jamalco refinery in Clarendon want to refocus on incorporating the alumina company prior to approaching the capital markets for financing. The plan is to do so before starting new investment projects. Managing Director of Jamalco...
Roots Financial Group has acquired patty maker and food chain Mother's Enterprise Limited for an undisclosed sum. “We acquired 100 per cent of Mother’s Enterprises,” said Kevin Donaldson, a former investment banker and principal owner of Roots...
The focus on capital adequacy by large banking conglomerate NCB Financial Group resulted in it reclassifying certain investment assets to retain value. “We are living in uncomfortable times,” said President and CEO Patrick Hylton during an...
The Turtle River Falls and Gardens in St Ann, which was built on lands that formed part of the former Enchanted Gardens property, has been listed for sale on the real estate market for US$15 million, which converts to $2.3 billion in local currency...
The new majority owner of the Jamalco alumina refinery intends to pump up to US$20 million of capital into the operation, which it expects to return to profit by September. “With respect to Jamalco, we expect to break even, or better, for adjusted...
The National Water Commission, NWC, is projecting a $3.9 billion surplus this fiscal year, which would reverse losses recorded two years earlier, but a major plank of that growth will rest on increased revenue and cost containment, especially in...
