Mon | Sep 23, 2019

Stories by Avia Collinder/Business Reporter

Published:Wednesday | September 4, 2019 | 12:05 AMAvia Collinder/Business Reporter

Small commercial bank First Global, FGB, is hunting market share in the home loans segment and hopes to grow new business by at least 20 per cent within a year. The GraceKennedy-owned bank has a promotional offer of 7.25 per cent interest, 95 per...

Published:Wednesday | August 28, 2019 | 12:15 AMAvia Collinder/Business Reporter

Sagicor Life, a subsidiary of Sagicor Group Jamaica, has customised six new plans for small businesses which need health coverage for employees. The company has not shared the new coverage levels and payments attached, but said that the plans are...

Published:Wednesday | August 28, 2019 | 12:14 AMAvia Collinder/Business Reporter

The Jamaica Coffee Exporters Association (JCEA) is planning to drum up quality demand for Jamaica Blue Mountain coffee (JBM) through its marketing programme which is under way. JCEA president Norman Grant said the body will host 35 large coffee...

Published:Wednesday | August 28, 2019 | 12:14 AMAvia Collinder/Business Reporter

The Ministry of Labour, in response to advertisements in early August where recruiters sought to attract the attention of business process outsourcing (BPO) workers for the Cayman Islands and also solicit graduate teachers for the United States of...

Published:Wednesday | August 21, 2019 | 12:07 AMAvia Collinder/Business Reporter

Ryan Reid, president and CEO of First Rock Capital, is set to travel to Costa Rica this week to oversee a residential transaction in that country valued at US$3 million. Pierre Shirley, vice-president in charge of real estate business, is in...

Published:Wednesday | August 14, 2019 | 12:12 AMAvia Collinder/Business Reporter

Phillip Henriques, chairman of National Road Operating and Constructing Company Limited, NROCC, confirmed on Monday that TransJamaican Highway Limited, which holds a 35-year concession for the Highway 2000 East-West toll corridor, will be going to...

Published:Wednesday | August 14, 2019 | 12:05 AMAvia Collinder/Business Reporter

While the real estate sector is a bit divided on just how many more luxury apartments the market can absorb, developers Peter Rousseau and Colin Steele have a waiting list for one of Kingston’s largest luxury developments in decades. The 25-acre...

Published:Wednesday | July 17, 2019 | 12:19 AMAvia Collinder/Business Reporter

Year-old plans to combine Clarendon Alumina Production, CAP, and Jamaica Bauxite Mining Limited and float the merged business on the stock market may have hit a snag related to CAP’s chief asset, Jamalco, which itself was part of a separate...

Published:Wednesday | July 10, 2019 | 12:06 AMAvia Collinder/Business Reporter

The Jamaica Coffee Exporters Association, JCEA, says it is working with the Jamaica Agricultural Commodities Regulatory Authority, JACRA, on a registration drive for coffee farmers, an initiative that sector leaders say could help clamp down on the...

Published:Wednesday | June 5, 2019 | 12:17 AMAvia Collinder/Business Reporter

Reducing the tax obligations of regulated finance companies would increase responsiveness to monetary signalling but there would be fiscal consequences, says the International Monetary Fund’s (IMF) Jamaica office. The Jamaican government, the...

Published:Wednesday | June 5, 2019 | 12:10 AMAvia Collinder/Business Reporter

Legal costs connected to an adverse court judgment, high water charges and a dispute with The University of the West Indies, UWI, over room quotas, weighed on half-year earnings for real estate company 138 Student Living Jamaica Limited. The group...

Published:Wednesday | May 29, 2019 | 12:15 AMAvia Collinder/Business Reporter

A new deal inked with three regional Nestlé businesses and others being considered with companies in Latin America position the Serge Island dairy operation at Bog Walk, St Catherine, to achieve full utilisation of its manufacturing capacity....

Published:Wednesday | May 29, 2019 | 12:05 AMAvia Collinder/Business Reporter

Instant-Save Conservation Solutions Jamaica Limited, a five-year-old company that distributes water-saving technology, is about to venture into Barbados. Talks are under way for the expansion, which is expected to cost the company $6 million, says...

Published:Wednesday | May 15, 2019 | 12:28 AMAvia Collinder/Business Reporter

PDV Caribe SA, a subsidiary of Petroleos de Venezuela (PDVSA), the Venezuelan firm that up to recently held a 49 per cent stake in Jamaica’s state-owned oil refinery, Petrojam, has selected legal luminary Michael Hylton, QC, to represent it....

Published:Wednesday | May 15, 2019 | 12:11 AMAvia Collinder/Business Reporter

The National Housing Trust (NHT) is still consulting internally on the details of the new intergenerational mortgage product and is yet to set a roll-out date. The initiative was announced by Prime Minister Andrew Holness in March as a means of...

Published:Wednesday | May 1, 2019 | 12:09 AMAvia Collinder/Business Reporter

Microfinancing firm Sprint Financial Services has introduced two new business lines, purchase order financing and transfers of PayPal payments through newly developed portal SprintFinx.com. The online portal will facilitate settlement of PayPal...

Published:Wednesday | April 24, 2019 | 12:15 AMAvia Collinder/Business Reporter

Adjustments to the law that polices credit bureaus are under consideration, a development that two of the three players say should open up the market to new products and services that they are currently barred from selling. Craig Stephen, CEO of...

Published:Wednesday | April 17, 2019 | 12:16 AMAvia Collinder/Business Reporter

The Statistical Institute of Jamaica on Tuesday released new data on ­inflation which shows that the indicator is moving significantly for the first time in seven months, giving some hope that the central bank may meet its inflation target by June...

Published:Wednesday | April 17, 2019 | 12:09 AMAvia Collinder/Business Reporter

Creditinfo Group, a privately owned Icelandic company that entered the Jamaican market nearly a decade ago, is now expanding in the region. CredInfo partnered with Coalesce Credit Solutions Limited, a local company owned by entrepreneurs Damion...

Published:Wednesday | April 10, 2019 | 12:11 AMAvia Collinder/Business Reporter

The Jamaica Chamber of Commerce-commissioned business and consumer confidence indices indicate that optimism among businesses and consumers remains on an upward trend. The business confidence Index increased to 151 points in the first quarter of...

Published:Wednesday | April 3, 2019 | 12:09 AMAvia Collinder/Business Reporter

Jamaica Plumbing Supplies Limited is near completion of a complex in Portmore that will become the company’s new warehousing and distribution hub. Development of the 200,000-square-foot two-storey structure, which started a year ago, represents an...

Published:Wednesday | March 27, 2019 | 12:05 AMAvia Collinder/Business Reporter

Executive Director of the Insurance Association of Jamaica (IAJ), Orville Johnson, said the Financial Services Commission (FSC) is developing a new investment framework for insurance companies, but that is being preceded by a quantitative impact...

Published:Wednesday | March 20, 2019 | 12:18 AMAvia Collinder/Business Reporter

Pear Tree Xpress is spending upwards of $300 million on the expansion of the office complex, new equipment and a new management information system, NIS, all intended to double capacity. The print company is adding space upstairs its Kingston...

Published:Wednesday | March 13, 2019 | 1:42 AMAvia Collinder/Business Reporter

Legitimate providers of small loans in the micro market believe the bill to regulate the sector may have gone too far in its efforts to address predatory lenders. Dr Blossom O’Meally-Nelson, chairman of the Jamaica Association for Micro Financing (...

Published:Wednesday | March 13, 2019 | 12:05 AMAvia Collinder/Business Reporter

Effective immediately, Jamaica Mortgage Bank (JMB) will be reducing the ­premium rate for mortgage indemnity ­insurance (MII) coverage by up to 29 per cent. The MII, rates which were seven per cent of mortgage loans, will now be cut as low as five...

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