Tue | May 30, 2023

Business

Published:Tuesday | May 30, 2023 | 12:57 AM

The reviews are starting to come in as details emerge about the debt ceiling agreement reached by United States President Joe Biden and House Speaker Kevin McCarthy. Even before seeing those details, some lawmakers were criticising the deal as not...

Published:Sunday | May 28, 2023 | 1:06 AM

Recent headlines seem to augur a global debt crisis. The United States is teetering on the precipice of a self-inflicted default. Egypt, Ghana, Pakistan, and many other countries are in grave financial difficulties. Italy and Japan’s debt burdens...

Published:Sunday | May 28, 2023 | 12:59 AM

So you just got a very good adjustment to your salary and you are really happy. Life is going to get better. No doubt about that. That must be the logical outcome. Well, it depends. It depends on many factors: how well you manage spending, saving,...

Published:Sunday | May 28, 2023 | 12:57 AM

Your company is dealing with a significant challenge. Due to the complexity of the issue, it is hard to determine the right path forward. This is an intellectual puzzle that needs the attention of analytic minds. But is finding the optimal answer...

Published:Sunday | May 28, 2023 | 12:47 AMKarena Bennett - Business Reporter

Caribbean Flavours...

Published:Sunday | May 28, 2023 | 12:35 AM

When Russia invaded Ukraine, global companies were quick to respond, some announcing that they would get out of Russia immediately, others curtailing imports or new investment. Billions of dollars’ worth of factories, energy holdings, and power...

Published:Sunday | May 28, 2023 | 12:32 AM

It is too early to tell whether all the talk about reforming development finance at this year’s International Monetary Fund and World Bank spring meetings will translate into meaningful policy action for the Global South. But multilateral financial...

Published:Sunday | May 28, 2023 | 12:30 AM

VM Group Limited has its feelers out for attractive businesses to buy, on the heels of the $11 billion raised on the private market from an offer of preference shares through new entity VM Financial Group. President and CEO of VM Group Courtney...

Published:Sunday | May 28, 2023 | 12:13 AM

Microfinancing firm ISP Finance Services Limited has added two new members to its board of directors amid continuing efforts to secure a licence from the Bank of Jamaica to continue business under the new Microcredit Act. The company has named...

Published:Sunday | May 28, 2023 | 12:09 AMSteven Jackson - Senior Business Reporter

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...

Published:Friday | May 26, 2023 | 3:35 PM

The Jamaica Stock Exchange (JSE) Combined Index close the week on a winning note on Friday. The moderate trading ended with an advance/decline ratio of 53/32. The JSE Combined Index advanced by 2,495.00 points or 0.72 per cent to close at 348...

Published:Friday | May 26, 2023 | 1:17 AM

Shares of Nvidia, already one of the world’s most valuable companies, skyrocketed Thursday after the chipmaker forecast a huge jump in revenue, signalling how vastly the broadening use of artificial intelligence could reshape the tech sector. The...

Published:Friday | May 26, 2023 | 1:15 AM

With one of three major rating agencies warning that America’s AAA credit is at risk, the stakes are growing in the standoff in Washington over raising the nation’s debt limit. On Wednesday night, the rating agency Fitch put the nation’s credit on...

Published:Friday | May 26, 2023 | 1:08 AM

NCB Financial Group Limited sought to quell speculation on Wednesday night regarding its chairman, billionaire investor Michael Lee-Chin, after initially announcing his pending leave of absence from the board without explanation. The initial...

Published:Friday | May 26, 2023 | 12:59 AMSteven Jackson - Senior Business Reporter

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...

Published:Friday | May 26, 2023 | 12:56 AMNeville Graham - Business Reporter

Used car dealer Jetcon Corporation says loan rate hikes and scarce funds have slammed the brakes on cars moving off its lots, and pulled the auto trader into losses in the March quarter. Jetcon has issued its first-quarter results, although its...

Published:Friday | May 26, 2023 | 12:55 AMSteven Jackson - Senior Business Reporter

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...

Published:Friday | May 26, 2023 | 12:53 AM

Energy products trader and pipe manufacturing company FosRich has entered the United States through the newly incorporated FosRich USA Inc, which is expected to start doing business by the end of summer. CEO of FosRich Company Limited Cecil Foster...

Published:Friday | May 26, 2023 | 12:53 AM

In hearings in the Supreme Court on Monday, Justice David Batts asked the lawyers representing issues remaining to be settled in the case of Mystic Mountain Limited, a company in bankruptcy, to marshall more evidence for a final hearing at the end...

Published:Friday | May 26, 2023 | 12:51 AMKarena Bennett - Business Reporter

Property developer Stanley Motta Limited is scouting tenants for a new commercial high-rise at Half-Way Tree Road in Kingston into which it is pumping US$12 million. In a move aimed at diversifying its rental client base beyond the business process...

Published:Thursday | May 25, 2023 | 12:08 AM

The Bank of Jamaica is forecasting that inflation will align with the target range for the December quarter and be maintained up to the period ending March 2024. But BOJ Governor Richard Byles is also warning of possible temporary upward pressure...

Published:Wednesday | May 24, 2023 | 9:37 PM

The NCB Financial Group (NCBFG) has sought to address questions regarding the decision of billionaire businessman Michael Lee-Chin to take a three-month leave of absence from his post as chairman of the group. In a media release on...

Published:Wednesday | May 24, 2023 | 6:57 PM

The Jamaica Stock Exchange (JSE) Combined Index gained ground on Wednesday. The moderate trading, ended with an advance/decline ratio of 40/55. The JSE Combined Index advanced by 2,890.60 points or 0.84 per cent, to close at 347,251.23. ...

Published:Wednesday | May 24, 2023 | 12:46 AM

Higman and Monteith stated that “the study of business history as a distinct discipline is well established in many places but relatively neglected in the West Indies”. Danns opined that scholars who have written on the development of the Caribbean...

Published:Thursday | May 25, 2023 | 8:50 AM

Derrimon Trading Group earnings plummeted to $53 million in the first quarter ending March, a performance that reflected costs to operate the expanding business. The company, which has been in growth mode for some two years, reported a 120 per cent...

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