Listed Jamaican conglomerate GraceKennedy Limited, which runs a global business across several sectors, says it has cut ties with its dealer in Russia through which is did business in that country, in keeping with worldwide sanctions against the...
T he Private Sector Vaccine Initiative, PSVI, has administered more than 33,000 COVID-19 vaccinations in three months, but those numbers represent just over a half the level that corporate Jamaica had hoped to achieve. In fact, the low take-up of...
Within three years, renewable energy company Wigton Windfarm Limited will be replacing equipment that will become obsolete, a project that should ease the amounts spent on maintenance of the turbines it operates in central Jamaica and produce...
After a year of operation, Stratus Alternative Funds, an investment vehicle created and managed by NCB Capital Markets, is looking to expand its portfolio through the addition of a new layer to its most recent product, which provides financing for...
Victoria Mutual, whose core business is mortgage lending, has rebranded officially as VM Group in the midst of a five-year transformation programme to recognise the diversity of services the financial house now provides. The change comes at VM’s...
Blue Power Group Limited is expanding its capacity with the purchase of an additional production line from Kirk-FP Limited, a member of the Cari-Med Group, which is exiting the manufacturing of soaps to concentrate solely on distribution. The deal...
Health insurance premiums are expected to increase as a perfect storm of events converge to push up costs. Insurance industry leaders say that they have been holding back on upward revisions since the start of the COVID-19 pandemic, opting instead...
Banking on new drinks distribution contracts, Rerum Trading is looking to break through a $1 billion in sales by next year, CEO Omar Newell has said. The company formed two years ago now has a three-year deal with Trinidadian manufacturer SM Jaleel...
M arketing company Yaadman Petroleum’s plan to develop Jamaica’s largest service station at the bustling Christian Pen roundabout in St Catherine has hit a snag. At the August meeting of the National Environment and Planning Agency-Town and...
Under a regional initiative led by Nestlé, the multinational food company is partnering with six others to hire young people in Jamaica and the Caribbean. Around a thousand jobs, at both entry and professional levels, are expected to be created...
The Bahamas and Trinidad and Tobago have been fingered as the next two Caribbean countries expected to default on their sovereign debt, with widespread repercussions for their economies, populations, creditors and, eventually, the corrective policy...
Kevin Frith has reacquired the assets of Bar Central Limited, a company he founded and later sold majority interest to SSL Venture Capital Jamaica. Two years after the takeover, the fallout in the alcohol trade resulting from the coronavirus...
The one-month extension of the subscription period for the Sygnus Real Estate Finance Limited is to accommodate institutional investors, the company’s representatives said this week. The Sygnus Real Estate initial public offering, which has been...
By November, lighting and electrical company FosRich will commence production of PVC pipes at Hayes, Clarendon, through a subsidiary called Blue Emerald. It’s also making progress on plans to start manufacturing transformers in Jamaica, on behalf...
A doubling of gross premiums at the Trinidad and Barbados subsidiaries of General Accident Insurance Company Jamaica Limited, or Genac, is being taken as a encouraging sign that the entities will not only deliver positive returns soon, but could do...
As Jetcon Corporation’s sales rebound, nearing pre-pandemic levels, the used-car dealer is settling for now on what Managing Director Andrew Jackson calls “a nice formula that works” — the right brands and enticements. In its latest earnings report...
Lubricants company Paramount Trading is looking to household chemicals and manufacturing to ride out the pandemic. Paramount sells its chemicals to heavy or industrial-scale users, says CEO Hugh Graham, who in turn deal with institutions such as...
Cecil Foster originally projected it would take 14 months for his investment in PVC pipe manufacturing to pay off. But the level of demand has been greater than initially forecast, leading his FosRich Company Limited to ramp up capacity, including...
R eal estate investment trust Kingston Properties Limited, also known as KPREIT, is going green to cash in on the growing climate change consciousness. Of the 18 properties in its portfolio, Kingston Properties is retrofitting nine commercial...
The Court of Appeal has rejected a request by Arc Systems Limited to put a hold on the receivership granted by the Supreme Court in May, until its challenge of that ruling is heard. But the company is not ready to give up on that fight. “Our...
Tanker drivers, some waiting from overnight, left the Petrojam refinery loading ramps in a huff at mid-afternoon, after refinery representatives advised they had no more 90 octane gas available. There was no shortage of 87 octane. Representatives...
Miguel Smith Jr is adding another gas station to his holdings, its first in Kingston and the second to operate under the Yaadman brand. He has leased lands from the Jamaica Railway Corporation, JRC, near the Kingston waterfront, for the station – a...
T he top brass at GB Energy, the Dominican Republic-based company that operates Texaco gas stations, flew in for meetings at the top of the week as the company weighs plans to delay capital projects while the local economy recovers. General...
Construction, which is captured as a goods-producing sector in the counting of national output, was a star in the real economy last year. But real estate, which is classified as a service, was unable to match it. Although the number of real estate...
