Tue | Jun 25, 2019

Stories by Avia Collinder/Business Reporter

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...

Published:Wednesday | March 6, 2019 | 12:11 AMAvia Collinder/Business Reporter

Instant coffee maker Salada Foods will meet with its regulator, JACRA, regarding new rules for bean content in its product formulations that the company says will hurt its bottom line. The parties have confirmed the pending talks, but General...

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

Faced with depressed sales for coffee companies, the Jamaica Agricultural Commodities Regulatory Authority, JACRA, which depends on the sectors it regulates for income, is cutting its budget amid expectations that its ­revenue inflows will be lower...

Published:Sunday | February 3, 2019 | 12:13 AMAvia Collinder/Business Reporter

The Hussey family, owners of the Terra Nova hotel, has tapped architects Clifton Yap and Outram Hussey to design a new high-rise for luxury condominiums that will be sold to investors. The new development to be called ‘The Residences at Terra...

Published:Friday | February 1, 2019 | 12:27 AMAvia Collinder/Business Reporter

CB Group has taken under its wing a start-up company named Benchmark Quality Management Solutions Limited, run by past employee Dr Velton Gooden, who says he is bringing to the table quality management systems of an international quality – at...

Published:Wednesday | January 30, 2019 | 12:15 AMAvia Collinder/Business Reporter

On Tuesday, Richard Byles, the chairman of real estate company 138 Student Living Jamaica Limited, assured shareholders that it was a good time to buy more shares, jokingly referring to the depressed price of the stock. The company, which offers...

Published:Wednesday | January 16, 2019 | 12:00 AMAvia Collinder/Business Reporter

Members of the Caribbean Community (CARICOM) budget committee, which met in Guyana last December, found that members states are in arrears to the tune of more than US$99 million as at May 31, 2017, in terms of their contributions.A paper, titled '...

Published:Wednesday | January 2, 2019 | 12:00 AMAvia Collinder/Business Reporter

Barita Investments Limited has delayed its non-renounceable rights issue in order to get shareholders' approval at an extraordinary general meeting, EGM, on January 17.In a new notice on December 21, board directors said that "while we are assured...

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