Power utility Jamaica Public Service Company, JPS, is exploring the development of three solar plants with combined capacity of 100 megawatts of power. JPS is now doing an initial resource assessment and “rapid” environmental impact assessment for...
The Jamaican film industry has taken a hit during the pandemic, registering a two-thirds decline, equating to $2 billion, in the value of the business generated from local and overseas films. The film sector was negatively affected by health...
Consumers and businesses were more confident about economic prospects in the second quarter of 2021 when compared to the prior quarter, but optimism among both groups still lags pre-pandemic levels. The business confidence index increased to 130.8...
Mayberry Investments plans to raise up to $750 million to finance the acquisition of real estate lots for development. The company operates an investment banking and brokerage firm. It intends to raise the funds in three separate issues, the first...
Some $13.8 billion worth of NCB Financial Group shares traded on Monday, coinciding with top executives surrendering shares at the banking conglomerate. It was the largest traded volume of NCBFG shares in over two years on the Jamaican stock market...
Investment company Eppley Limited aims to raise a $1.2 billion from the issue of three classes of preference shares on the Jamaica Stock Exchange this month, which will refinance existing debt. The offer priced at $20 per share will be available...
Expect moderate inflation going forward due to low productivity and job losses, according to the staff working paper titled ‘Estimating Jamaica’s Potential Output’ from the Bank of Jamaica, BOJ. Even as employment numbers improve relative to 2020’s...
The Jamaican economy is expected to grow by between 7.0 per cent and 9.0 per cent for the April-June 2021 quarter, the Planning Institute of Jamaica (PIOJ) has projected. The positive outlook reflects recovery from heavy declines a year ago when...
Port company Kingston Wharves Limited, KW, invested $800 million in its terminal operations between January and March, four times more than the funds spent in the similar period a year ago. The expenditure included the acquisition of a new crane...
Kingston Properties Limited, KPREIT, has invested US$1 million in a real estate fund based in the United States, which gives the real estate investment trust measured exposure to the American market. “We invested the sum in a real estate private...
Supreme Ventures Limited, SVL, announced the purchase of a 10-per cent stake in Main Event Entertainment Group Limited, an events production company valued at $1.05 billion on the stock market. The stake bought by SVL Group would be valued around $...
Silicon Valley-based Uber Technologies has announced plans to enter Kingston with its services. Uber sent out notifications to potential operators on Monday for persons to register as drivers. The company operates what it describes as a ride-...
The Government has crafted a lean Budget for the upcoming fiscal year, focusing on an ambitious vaccination programme and jobs as linchpins to spark economic recovery. Both the recurrent and capital budgets are flat year on year, but the Government...
It’s been a slippery slide for the local stock market over the past two years and the pandemic has made matters that much worse. From the best performing exchange in the world in 2018 repeating a spectacular feat it first accomplished in 2015, to...
Caribbean retail investors have tendered millions of dollars’ worth of old US dollar-denoted bonds from Digicel, as part of a regional deal to give them a final chance to join other bondholders from around the world in a global debt exchange....
Alliance Financial Services Limited has announced the suspension of its initial public offering, IPO, in order to allow regulators to assess a matter pertaining to a separate company held by its principals. “The matter has nothing to do with...
The Jamaica Stock Exchange JSE, expects in a matter of days to launch a portal for private bonds issued under exemption of public disclosure, aiming to make the bulk of these assets valued at around $480 billion more liquid and tradable. It forms...
Remittance flows to Jamaica have risen nearly 40 per cent in the September quarter, a spike that is being attributed in part to changing travel patterns, as well as crisis support since the pandemic, according to Bank of Jamaica Governor Richard...
Two brokerage firms have placed higher valuations on the NCB Financial Group stock, NCBFG, above its current trading price, notwithstanding differing expectations of the banking conglomerate’s performance under recessionary conditions. The stock...
People are still using cheques but since the onset of the COVID-19 pandemic usage has dropped by one-third, according to data from the Bank of Jamaica, BOJ. In an era of physical distancing the use of cheques seems less efficacious. Just over $100...
DHL Jamaica holds the bulk of the US$53.5-million ($7.8 billion) import parcel market, inclusive of the movement of business bulk online orders and even friendly care packages, according to the Fair Trading Commission, FTC. “DHL is the market...
Proven Investments Limited has two deals in the pipeline that it plans to finance in part through an additional public offering, APO, of shares on the market. The APO would be its second attempt at an equity raise, having pulled back an offer...
Bondholders will likely lose the principal on their investment, worth US$84 million ($12 billion), arising from the September maturation of two Digicel bonds that were refinanced. Digicel said the bondholders were previously offered opportunities...
MPC Caribbean Clean Energy Limited, an investor in renewable projects, recently released financials with an unusual profit and loss statement that contained no income despite generating nearly four times more cash from its energy holdings. The lack...
