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Business

Published:Friday | November 10, 2023 | 12:09 AMSteven Jackson - Senior Business Reporter

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...

Published:Friday | November 10, 2023 | 3:25 AM

When Hurricane Irma slammed into the tiny Caribbean island of Barbuda as a Category 5 storm in 2017, the government temporarily evacuated the entire population of some 1,600. Even before many people returned, American developers were allowed in and...

Published:Friday | November 10, 2023 | 12:08 AM

With the commissioning of a new production line in which it invested US$30 million, Pepsi-Cola Jamaica Bottling Company Limited says it is gunning for more market share in Jamaica and export markets. The company officially opened the new production...

Published:Friday | November 10, 2023 | 12:08 AMAvia Collinder - Business Writer

Gary ‘Butch’ Hendrickson, head of National Baking Company Limited, is exasperated with what he describes as recurring issues relating to raw materials import restrictions caused by government regulations that serve no one’s interests and continue...

Published:Thursday | November 9, 2023 | 11:43 AM

Prime Minister Andrew Holness has described as a ‘national emergency' the need to reach out to Jamaica’s human resources who are outside the formal labour force, given evidence of a labour shortage. He says despite programmes that are in train to...

Published:Thursday | November 9, 2023 | 12:08 AM

General Motors’ Cruise autonomous vehicle unit is recalling all 950 of its cars to update software after one of them dragged a pedestrian to the side of a San Francisco street in early October. The company said in documents posted by United States...

Published:Wednesday | November 8, 2023 | 5:55 PM

Motorists will pay less for gas and diesel when they go to the pumps on Thursday. The state-owned oil refinery, Petrojam, says E-10 87 is to move down by $1.30 to sell for $178.66 per litre and a litre of E-10 90 will go down by $1.27 to sell for $...

Published:Wednesday | November 8, 2023 | 12:10 AM

The Jamaican government’s $46.6 billion bond issued internationally but linked to the Jamaican dollar forms part of a strategy to convert more of the country’s debt to local currency. It’s the first global bond to be linked to the JMD, the Ministry...

Published:Wednesday | November 8, 2023 | 12:09 AM

WeWork has filed for Chapter 11 bankruptcy protection, marking a stunning fall for the office-sharing company once seen as a Wall Street darling that promised to upend the way people went to work around the world. In a late Monday announcement,...

Published:Wednesday | November 8, 2023 | 12:09 AM

Malaysian oil company Petronas has made a significant oil discovery off the coast of the country. Subsidiary Petronas Suriname E...

Published:Wednesday | November 8, 2023 | 12:09 AM

Regional central bank governors are giving support to a pilot programme for the Caricom payments and settlement system called CAPSS. At the end of a two-day meeting hosted by the Bank of Jamaica from November 2-3, the central bankers “resolved to...

Published:Wednesday | November 8, 2023 | 12:09 AM

Jamaica Bauxite Mining Limited, JBM, expects to max out capacity at the Reynolds Pier if, as expected, limestone shipments volumes rise to 1.5 million metric tonnes, or six times their current levels. Once that happens, the company plans to expand...

Published:Wednesday | November 8, 2023 | 12:09 AM

Private pension funds continued to regain value, even as industry regulator Financial Services Commission, FSC, reported a dip in coverage by twenty-five basis points to 11.74 per cent of the working population in the June quarter, mainly due to...

Published:Wednesday | November 8, 2023 | 12:08 AM

As incomes in China have grown in the last decade, so has China’s appetite for beef. No longer out of reach for China’s middle class, beef now sizzles in home woks and restaurant kitchens. China has become the world’s biggest importer of beef, and...

Published:Wednesday | November 8, 2023 | 12:06 AM

Latin Americans frequently complain about being far from the rest of the world, but sometimes distance can be an advantage. As the great economic historian Carlos Díaz-Alejandro noted, in “the 1930s and 1940s, most Latin Americans could feel lucky...

Published:Wednesday | November 8, 2023 | 12:06 AM

Businesses expect higher inflation but stable interest rates by the end of this year, according to a new Bank of Jamaica survey. About 56 per cent of those surveyed think the rate will remain unchanged to December, and that’s up from 48 per cent in...

Published:Wednesday | November 8, 2023 | 12:06 AM

China’s imports rose in October while exports fell for a sixth straight month, compared with a year earlier, in the latest evidence the world’s second- largest economy remains in the doldrums. Customs data released on Tuesday showed imports climbed...

Published:Wednesday | November 8, 2023 | 12:05 AM

Morale and trust within the Walt Disney World government has deteriorated since allies of Florida Governor Ron DeSantis took it over earlier this year, according to many employees who have departed in recent months, saying the governing district...

Published:Tuesday | November 7, 2023 | 12:08 AM

More than 900 software developers and other attendees showed up on Monday to the inaugural developer conference for the artificial intelligence company behind ChatGPT, embracing a Silicon Valley tradition for technology showcases that Apple helped...

Published:Sunday | November 5, 2023 | 12:09 AM

FTX founder Sam Bankman-Fried’s spectacular rise and fall in the cryptocurrency industry — a journey that included his testimony before Congress, a Super Bowl advertisement, and dreams of a future run for president — hit rock bottom Thursday when a...

Published:Sunday | November 5, 2023 | 12:09 AM

The term ‘Global South’ is in constant use nowadays. For example, some commentators warn that Israel’s incursion into Gaza is “alienating the Global South” and we often hear that the ‘Global South’ wants a ceasefire in Ukraine. But what do people...

Published:Sunday | November 5, 2023 | 12:09 AM

Financial shocks can be as sudden and devastating as a serious earthquake. They can come in the form of the death of a major breadwinner, serious injury, serious investment losses, loss of a valuable asset such as a home, and a divorce, although...

Published:Sunday | November 5, 2023 | 12:08 AM

“Jamaica has a well-developed disaster-response mechanism.” This statement was attributed to Prime Minister Andrew Holness in the aftermath of last Monday’s 5.6 magnitude earthquake, according to this newspaper. Disaster-response mechanism,...

Published:Sunday | November 5, 2023 | 12:07 AMAvia Collinder - Business Writer

The University of Technology Jamaica, which churns out the most trained pharmacists annually, is of the view that the numbers certified should be enough to serve the sector. But there is a rising worry within the trade that job positions are going...

Published:Sunday | November 5, 2023 | 12:06 AM

United States President Joe Biden on Friday welcomed government leaders from countries across the Americas to an economic summit by pledging to increase US investment in the region in part to counter China’s influence. The US president did not...

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