Former Sagicor Investments CEO Kevin Donaldson has invested $94.5 million to take a 42 per cent take in tech company Powell Interactive, which operates the QuickCart online delivery business. It is the latest in a string of similar investments by...
Indebted and insolvent Mystic Mountain Limited, MML, was this week certified bankrupt by the government’s Office of the Supervisor of Insolvency, OSI, after the majority of its creditors voted down a proposal on Tuesday denying the company time to...
Entrepreneur Kadeen Mairs, head of microfinance firm Dolla Financial Services, is spearheading a new private equity outfit called Dequity Capital Management Limited, DCML, that has so far raised some US$8 million, or around $1.3 billion, and has...
The do-over of an August 9, 2021 meeting of creditors of the indebted attraction company Mystic Mountain Limited, MML, to try and arrive at an agreement to pay out secured bondholders and avert being formally declared bankrupt and/or having the...
One year after creditors called their investment for non-payment of bond interest, the takeover of the assets of indebted attractions owner and operator Mystic Mountain Limited, MML, was averted on Tuesday when a ruling was handed down in the...
The corporate restructuring of investment company Cornerstone to satisfy Bank of Jamaica, BOJ, terms for the regulation of subsidiary Cornerstone Trust and Merchant Bank and holding company Cornerstone United Holdings Jamaica Limited, CUHJL, will...
Therese Turner-Jones – general manager of the Jamaica-based Caribbean Country Department of the Inter-American Development Bank (IDB), which oversees the lending agency and development organisation’s work across several English-speaking Caribbean...
Anglin Global Affiliates, AGA, has acquired the multistorey Advantage General building at Market Street in Montego Bay, where the five-year-old Montego Bay-based turnkey property and equipment rental company founded by CEO Omar Anglin, once rented...
The Supreme Court is being asked to resolve several issues that have derailed a scheme of arrangements for a payout to creditors of Mystic Mountain Limited, MML, which owns and operates the Ocho Rios-based attraction known for its bobsled and...
With October’s inflation outturn of 8.5 per cent more than doubling since April this year when price increases undershot the six per cent upper limit of the inflation target range for a third consecutive month, the central bank is doubling down on...
BCMG Insurance Brokers Limited is among the newest intermediaries in the Jamaican insurance marketplace, but the company, born of the July 1 merger of once-rival insurance brokers Billy Craig and MGI, has many years in the business, a formidable...
St Ann-based Noranda Jamaica Bauxite, the local operation of American mining company New Day Aluminum Holdings LLC, and which is run by New Day Aluminum Jamaica Limited, is to take on a new name – Discovery Bauxite – the parent company has...
The association representing lawyers in Jamaica continues to take issue with the Government’s stated position that non-inclusion of attorneys in anti-money laundering legislation represents a threat to the country’s standing in the global fight...
NCB Financial Group (NCBFG) has created a new fintech company, TFOB (2021) Limited, staffed with tech-savvy IT and data analytics professionals, to build out its newest project, the Lynk payment platform that will be a conduit for the bank’s...
The buzz of real estate development activity taking place in the Corporate Area’s so-called Golden Triangle, one of the most sought-after neighbourhoods situated just outside the New Kingston business district and bordered by main arteries Hope,...
Barita Investments Limited appears to be cashing in on the ongoing property boom, building out its fledgling real estate investment business outside its core operations and utilising affiliated company MJR Real Estate Holdings Limited. The real...
The central bank is pushing back at the critics of its decision last week to deliver on its August warning and to triple the rate-policy interest rates, effective September 30. When the central bank flexed its newly independent muscles last week,...
The 14.2 per cent rate of expansion in the Jamaican economy for the April to June quarter this year, as announced by the Statistical Institute of Jamaica, is being hailed by the Government as a significant achievement in the context of major shocks...
In a far-reaching reversal of a 13-year streak of holding or reducing interest rates, the central bank on Thursday delivered on its August rate rise warning, setting the policy interest rate a percentage point higher, tripling the record low 0.5...
Brokerage firm Barita Investments Limited and its regulator, the Financial Services Commission, FSC, say last week’s release of an addendum to the prospectus for Barita’s current share offer seeking to raise at least $10 billion, is intended to...
Sauce and spice maker Spur Tree says there is no firm date yet for its intended stock market listing, but its management continues to consolidate the business and is building capacity to meet what it says is growing demand for its products in...
Brokerage firm Barita Investments Limited is again tapping the equities market to raise $10 billion, which it has earmarked essentially for working capital. Barita says the cash is needed to top up its investment portfolio, which includes taking...
Private investors in a stalled private-public partnership to develop the town of Port Royal into a tourist attraction are fighting on in court despite a recent Supreme Court ruling that all but threw out the bid to sue the government and state...
A lthough Bank of Jamaica, BOJ, minted $230 million of its new digital currency earlier this month as part of a pilot that runs to year end, the sole approved wallet provider so far, National Commercial Bank Jamaica, NCB, is not expected to...
