Thu | Apr 15, 2021

Stories by Neville Graham - Business Reporter

Published:Sunday | April 11, 2021 | 12:05 AMNeville Graham - Business Reporter

Medicinal hemp producer Virtudes and Jamaican luxury skincare company Morgan’s Creek inked a partnership agreement that sees Virtudes becoming the main supplier of distilled cannabidiol, CBD, to the beauty brand. Morgan’s Creek recently moved into...

Published:Friday | April 9, 2021 | 12:06 AMNeville Graham - Business Reporter

With a cassava farm fully planted and supply contracts in hand from small farmers, seafood processor Rainforest is looking to export bammies, a food item that is most often paired with fish. It’s just one of the non-seafood products that the...

Published:Thursday | April 8, 2021 | 11:14 PMNeville Graham - Business Reporter

 One of the ‘founding fathers’ of Wisynco Group Limited, Joseph Mitchell Mahfood, passed away at his home in St Andrew about 3 a.m. on Thursday. He was 78. William Mahfood, chairman of the Wisynco...

Published:Thursday | April 1, 2021 | 12:05 AMNeville Graham - Business Reporter

The cost of freight has increased since the full onset of the COVID-19 pandemic, especially shipments from China that the business community says have tripled due to logistical bottlenecks. Trade out of China, and Asia generally, has been impacted...

Published:Friday | February 12, 2021 | 12:30 AMNeville Graham - Business Reporter

M anufacturing and distribution company Seprod Limited got innovative during the pandemic, putting out new products, developing new partnerships, and reshaping aspects of the business. Having cauterised the loss-making side of the operation, sugar...

Published:Sunday | February 7, 2021 | 12:25 AMNeville Graham - Business Reporter

The mega US$1 billion mega-resort being developed by Karisma Hotels Group in the garden parish of St Ann is on hold, with the hotel company and Jamaican officials putting the blame for the delay on the coronavirus. Karisma aims to build 10 hotels...

Published:Saturday | February 6, 2021 | 10:15 AMNeville Graham - Business Reporter

NCB Financial Group’s profits fell 34 per cent in the December quarter, which Deputy CEO and group head of finance Dennis Cohen attributed to a fall-off in asset prices and compressed margins as revenues slowed. NCB Financial shed nearly $2 billion...

Published:Friday | February 5, 2021 | 12:11 AMNeville Graham - Business Reporter

Supreme Court Justice David Batts has given himself nearly four months to decide whether to appoint a receiver to locate any assets and wind up Arc Systems Limited, after hearing final arguments o Wednesday in the years-long case brought by...

Published:Wednesday | January 27, 2021 | 8:45 AMNeville Graham - Business Reporter

JSE CAPITAL MARKETS CONFERENCE Jamaican investors interested in the American financial market are being urged to be cautious in their investment decisions, even as recent market activity has been bullish. Gregory Fisher, Managing Director...

Published:Friday | January 15, 2021 | 12:12 AMNeville Graham - Business Reporter

Beer maker Red Stripe Jamaica is pulling back from its farming venture, Project Grow, after five years, reducing both the acreages of cassava under its direct control as well as those farmed under contract, and has already shuttered three farms....

Published:Sunday | January 10, 2021 | 12:08 AMNeville Graham - Business Reporter

Tea and other consumer products manufacturer, Jamaican Teas Limited, which has branched out into retail, real estate and other investments, is reporting a near $70-million loss on group activities for the year ending September 30, 2020. This is...

Published:Sunday | January 3, 2021 | 12:08 AMNeville Graham - Business Reporter

Another company has joined the growing list of firms seeking to cash in on the local electronic payment solutions business. Local tech firm Mobile Edge Solutions, MES, has launched what it is touting as a “robust and customisable” online platform,...

Published:Friday | January 1, 2021 | 12:14 AMNeville Graham - Business Reporter

Listed stockbroker and investment house Barita Investments Limited blew past the $2 billion mark in profits, its 2020 year-end financials show. For the year ending September 30, 2020, Barita posted net profits of $2.7 billion, just over $1 billion...

Published:Thursday | December 24, 2020 | 12:14 AMNeville Graham - Business Reporter

Listed coffee-processing company Salada is giving greater focus to growing its export business after experiencing a year-end profit decline. In its September 2020 year-end results, the company revealed that net profit was down nearly 22 per, at...

Published:Sunday | December 6, 2020 | 12:13 AMNeville Graham - Business Reporter

Jamaican businesses, large and small, need to get familiar with the acronym BEC. Business email compromise is a growing cyber menace under which attacks were growing 200 per cent up to two years ago, with 2020 levels set to surpass that, according...

Published:Sunday | November 29, 2020 | 12:10 AMNeville Graham - Business Reporter

The Jamaica Urban Transit Company, JUTC, is a step closer to having a diversified fleet after a near one-year pilot of running some buses on liquefied natural gas, or LNG. General Manager Paul Abrahams says the five buses in the pilot operating out...

Published:Sunday | November 22, 2020 | 8:12 AMNeville Graham - Business Reporter

Industrial Gases Limited, IGL, is sole local producer of medical-grade oxygen distributed to the health sector and food-grade nitrogen distributed mostly to drinks manufacturers or otherwise used in food processing, and continues to dominate the...

Published:Sunday | November 15, 2020 | 12:11 AMNeville Graham - Business Reporter

As Jamaica waits for an upgrade in its status as a potential hotspot for money laundering and terrorism financing, the senior legal counsel at the Bank of Jamaica, BOJ, is warning of possible sanctions. Celeste McCalla says Jamaica, which is...

Published:Friday | November 13, 2020 | 12:12 AMNeville Graham - Business Reporter

FosRich Company, the sole maker of PVC pipes in Jamaica, is about to add a new production line in order to keep up with demand. The plant, which is less than two years old, has seen a 240 per cent spike in sales in the past nine months amid the...

Published:Friday | October 30, 2020 | 12:15 AMNeville Graham - Business Reporter

Technology firm Amber Group has secured a deal with four other Caribbean countries on what it describes as a tech tool for travel authorisation and border management, which includes the capability to track suspect coronavirus cases in quarantine....

Published:Sunday | October 25, 2020 | 12:12 AMNeville Graham - Business Reporter

Renewable energy company Wigton Windfarm Limited intends to tap the market for funds to finance an ambitious expansion and diversification programme, but is timing the trigger. The wind farm is operating at near maximum levels in terms of equipment...

Published:Sunday | October 18, 2020 | 12:13 AMNeville Graham - Business Reporter

A confluence of events, not least of which was the outbreak of the coronavirus, has led to delays in the showroom and headquarters being developed in New Kingston by Magna Motors, the dealer for Hyundai vehicles. But some of the hold-up comes from...

Published:Friday | October 16, 2020 | 12:11 AMNeville Graham - Business Reporter

A push to digitise operations, accelerated by the full onset of the COVID-19 pandemic, has coincided with a number of exits from brokerage Mayberry Investments Limited. Three top managers and an assistant vice-president have exited the company...

Published:Friday | October 16, 2020 | 12:11 AMNeville Graham - Business Reporter

After posting a record $273-million profit last year, Jamaica’s third-largest credit union, First Heritage Co-operative, FHC, is grappling with a shrinking bottom line caused by the COVID-19 pandemic. The latest unaudited numbers coming out of FHC...

Published:Thursday | October 15, 2020 | 6:55 PMNeville Graham - Business Reporter

Pending regulatory approval, Billy Craig Insurance Brokers and Maritime General Insurance Brokers, MGI, will merge their operations to form BCMG Insurance Brokers Limited. Billy Craig Insurance CEO, William Craig, says the merger is a non-cash...

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