While revenues surged almost 60 per cent at yearend January 2015, Jammin Java Corp, which trades as Marley Coffee Inc, has turned to paying employee and consultant salaries partly in common stock as it seeks to retain cash for operational needs.At...
FOR THE first time in more than five years, CIBC FirstCaribbean Jamaica is adding to its network, starting this weekend with a 'mini-bank' in the busy township of Santa Cruz in St Elizabeth.That will be followed up with a new and full-sized branch...
WE HAVE been reminded constantly by officials at the Ministry of Finance and the co-chair spokesman of the Economic Programme Oversight Committee (EPOC) that the 7.5 per cent primary surplus target was and is untouchable.It has been treated as...
THE MARKET is delirious about Argentina. Companies that can't make payroll have seen their share prices soar since the start of the year. Defaulted government bonds are trading above par and non-emerging market hedge funds are pouring billions of...
Toyota Motor Corp and Japanese rival Mazda are expanding their partnership to a long-term one focusing on technologies in the areas of safety and fuel efficiency.Toyota President Akio Toyoda and Mazda Motor Corp President Masamichi Kogai shook hands...
Southwest Airlines Company is raising its dividend, buying back more of its own stock, and announcing new international flights from Houston.At its annual meeting Wednesday, Southwest announced a new US$1.5-billion share-buyback programme and an...
General Motors Company plans to spend US$1 billion on construction and renovations at its Detroit-area technical centre, a top-to-bottom overhaul aimed at boosting innovation and employee attraction across a 60-year-old campus.Among the new...
The Eurozone economy grew at its fastest rate for nearly two years during the first three months of 2015 thanks to a raft of favourable conditions such as the sharp fall in oil prices, official figures showed Wednesday.The 0.4 per cent quarterly...
A flood of tax payments pushed government receipts to an all-time high in April and left the country with the largest monthly budget surplus in seven years.In its monthly budget report, the Treasury Department said Tuesday that the April surplus...
Kingston Properties Limited (KPL) is planning to raise up to US$25 million ($2.9 billion) through a rights issue this summer.The management of the real estate investment trust (REIT) wants to acquire more properties overseas, but they say that they...
Published:Thursday | May 14, 2015 | 2:10 PMTameka Gordon
Spice and condiments manufacturer Spur Tree Jamaica has partnered with St Thomas-based agro-processor Exotic Products Limited to form a joint-venture company, which will see the roll out of new products under the Spur Tree line and expansion of...
A NEW report released on Wednesday says the Caribbean and Latin America have the fastest growth in mobile financial services globally.The new GSMA report, released at the Mobil 360 Latin America event here, said the region has made important...
GraceKennedy is selling its majority holdings in Hardware & Lumber Limited, and has struck a conditional agreement with an unnamed buyer. The sale includes H&L’s Rapid True Value and Agro Grace businesses. GraceKennedy CEO Don...
Toyota Motor Corp and Nissan Motor Company are expanding their recalls over problem airbags made by Japanese supplier Takata Corp by another 6.5 million vehicles.Toyota said Wednesday it was recalling nearly five million more vehicles globally for...
Jamaica's final appellate court has reaffirmed that debt owed to depositors under the protection of the Real Estate Board of Jamaica (REB) take priority over the recovery of bank loans.The case revolves around property taken over by JMMB Merchant...
Published:Thursday | May 7, 2015 | 10:48 AMNeville Graham
The owners of Jamaica's first home-grown petro-leum marketing company, United Petroleum (Unipet), are exploring their options after some 25 years of operation, but chairman Paul Abrahams is refusing to say whether that includes sale of the business....
Sagicor's property company is moving ahead with a 21-acre complex at Mineral Heights, near May Pen, Clarendon, that will eventually house a mall and residences.The project will focus, initially, on the commercial development of shopping space, on...
Having given up the chase for a casino licence, at least for now, developer Richard Salm is cutting up a portion of his property at Drax Hall, St Ann into one-acre lots to be sold for construction of family residences.Some of the income generated...
Self-driving cars can't avoid accidentsThe self-driving cars that Google Inc has been testing on California's roads and highways were involved in 11 minor accidents over the past six years, according to the tech giant.The company released the number...
Verizon is buying AOL for about US$4.4 billion, advancing the telecom's push in both mobile and advertising fields.The acquisition gives Verizon an entryway into the increasingly competitive online video space. The New York company is the country's...
The death toll from faulty ignition switches in small cars made by General Motors has reached 100.The families of the victims are being offered compensation by Attorney Kenneth Feinberg, who was hired by GM last year. In addition, GM has agreed to...
Morgan Stanley is selling its oil storage and transport business, which has drawn scrutiny from Congress, to commodities trading company Castleton.Castleton is buying oil terminal storage agreements, inventory, oil purchase and sale and supply deals...
Only three of seven midsize SUVs from the 2015 model year performed well in front-end crash tests done by an insurance industry group.The Nissan Murano and Jeep Wrangler four-door got the highest, or 'good' rating in the latest round of Insurance...
Start-up renewable energy company Caribbean Energy Finance Company Limited (CEFCL) failed to raise even half the $452 million it hoped to sweep in its initial public offering.The IPO, which priced CEFCL at $1.26 billion on the bet that the company...
An International Monetary Fund (IMF) staff mission to Jamaica has again given the thumbs up to the Government's performance under the four-year extended fund facility, so far, again concluding that programme implementation remained strong.New IMF...
