Wed | May 27, 2020

Business

An offshore oil rig.

United Oil and Gas Limited, the minority partner in the hunt for oil in commercial quantities offshore Jamaica, wants to continue to find a drilling partner despite the exit of Tullow Oil, its major partner in the deal, latest statements reveal. “...
In this May 23, 2020 photo, Paulina and Marcos Francisco pose for a photo in front of their house in Sioux City, Iowa. They bought the home after years of working in a meatpacking plant and other food-processing jobs.

When Martha Kebede’s adult sons immigrated from Ethiopia and reunited with her in South Dakota this year, they had few work opportunities. Lacking English skills, the brothers took jobs at Smithfield Foods’ Sioux Falls pork plant, gruelling and...

Stocks surged on Wall Street in morning trading on Tuesday, driving the S...

A picture of mixed fortunes in manufacturing is emerging from the full onset of the COVID-19 pandemic in Jamaica. Amid the layoffs, cost-cuttings and supply chain challenges, and issues with the availability of foreign exchange, President of the...

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...

Palace Amusement found itself in the red for the three-month period ending March, due to a fallout in revenue from ­shuttered cinemas. The cinema operator posted a loss of $49.2 million against a profit $43.7 million for the similar quarter of 2019...

The 2020 Atlantic hurricane season begins in less than two weeks. Colorado State University, CSU, researchers have predicted that the season will be “above-average”. They cited the likely absence of El Niño as the primary factor, saying: “El Niño...

There are two basic types of approved pension arrangements: employer-sponsored pension plans, called superannuation funds, which are group plans, and approved retirement schemes for individuals. Generally, the contributions of the members of the...

Efforts to forecast the United States economy’s path to recovery from the current deep downturn face “a whole new level of uncertainty,” US Federal Reserve Chairman Jerome Powell said on Thursday. Not only is there the difficulty predicting how the...

ADVISORY COLUMN: SMALL BUSINESS As Jamaica grapples with the severe economic fallout triggered by the COVID-19 pandemic, many small businesses are struggling to find firm footing in these challenging and uncertain times. In my last column, I...
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