New Fortress Energy, NFE, supplier of the gas that fuel’s most of Jamaica’s electricity generation, is seeking partners to take on its local and regional assets. The deal would see investors partnering to finance the entity with cheaper debt or...
The near four-year legal battle over the definition of ‘Jamaica rum’ has ended with a decision to add the word ‘only’ to the criteria, a change that now clearly bars ageing of the spirit outside the island. The change was one of eight guidelines...
Scotia Group Jamaica Limited, SGJ, operator of Jamaica’s second largest bank, said on Monday that the handling of US cash was costly, resulting in the partial pass-through of the expense to customers in the form of foreign exchange spreads. “The...
Proven Group Limited posted a loss after being pulled down by its associate company JMMB Group, which in turn was impacted by its associate Sagicor Financial Company. “The board has decided not to declare a dividend for the first quarter, focusing...
The Jamaica Stock Exchange, JSE, has released its green, blue and sustainability bond guidelines to the market, giving brokers a list of additional procedures for such ‘thematic’ investments. “This guide sets the necessary foundations to further...
Retired judge Hilary Phillips assumed the position of interim chairman of Pulse Investments following the passing of co-founder and chairman Kingsley Cooper on June 18. Phillips, a co-founder, director and the second-largest shareholder of Pulse...
CIBC FirstCaribbean International Bank Jamaica made $1.1 billion in annual profit for year ending October 2023, which was 70 per cent better than the $663 million earned the previous year. The bank reported a double-digit rise in the value of its...
NCB Financial shares slid 2.5 per cent, or more than the overall market, on its first day of trading since the large conglomerate unveiled plans to raise about $20 billion, based on prevailing market prices, through an offer of new shares. On...
Jamaica Bauxite Mining Limited, JBM, a state-owned company in the business of port services, landholding and property management, is venturing into the distribution of drinking water, but says its market will be ships that drop anchor in Jamaica...
Experts clashed over whether funds should flow towards winning sectors such as tourism, as opposed to investing in ‘losing’ sectors such as education to spur economic growth, during a forum convened by Jamaica’s leading corporate lobby. Growth...
Concerns about preventing sand theft and squatting have surfaced on lands set for resort development next year by government-led Harmonisation Limited. The company is seeking drones and security guards to canvas the 2,400 acres of land at Harmony...
Consolidated Bakeries Jamaica, which trades as Purity, will add a snack bar to its lineup, one of the new product innovations the company is attempting to reinforce its recent sales growth. By tapping into market preferences, the baked-goods...
NCB Capital Markets Limited is raising $3.19 billion through an offer for investors to seed a new a real estate fund with a portfolio of tenanted assets that include NCB bank branches and car parks. The offer has been on the market for a week and...
The largest shareholder in Dolla Financial, First Rock Private Equity, FRPE, has seen a tenfold increase in the value of its investment in the microlender a year after its acquisitions. FRPE purchased 75 per cent of Dolla Financial Services Limited...
Express Catering Limited, ECL, will increase its store count from 24 to 31 at the Sangster International Airport this year, fuelled by US$8 million in funding. “We invested in the new food court and upgraded other areas. We anticipate that...
Luxury auction and realty brand Sotheby’s International has registered a real estate firm in Jamaica, official data from the Companies Office of Jamaica indicates. The island is set to become the latest country to carry the brand, which operates in...
Last Wednesday, Scotia Group Jamaica paid out about $1.7 billion to shareholders; and Sagicor Group Jamaica was expected to follow on May 6 with a distribution of about $1.2 billion. Scotia’s distributions made it through the door just two days...
GraceKennedy Limited wants to buy controlling interest in Key Insurance Company at nearly half the stock’s current trading value. But the takeover offer at $2.01 per share would equal the price paid last December when the conglomerate first...
Proven Investments Limited, PIL, says it plans to raise $4 billion (US$30 million) in its additional public offer of shares in the company, or APO, funds it will use to acquire new assets and finance ongoing projects. It’s the second company in...
Marco’s Pizza, described as one of the fastest-growing American pizza brands, aims to grow its network in the region by entering five markets, including Jamaica. The company wants to launch some 50 stores in regional markets in five years. Buoyed...
Issa Construction, headed by realtor Andrew Issa, will be developing a $300-million commercial complex at Hope Road in Kingston, the former location of his realty firm. The realtor says he plans to create an entity similar to a real estate...
New Fortress Energy earned the bulk of its US$50 million in quarterly sales, which translates to about J$7 billion, from its Jamaican operations, the size of which is about to grow with the addition of a new power plant at Jamalco to its energy...
Proven REIT began pitching its latest residential development to prospective buyers at the weekend, with starting prices of $21 million for the smallest studio units. The project, slated for Braemar Avenue in New Kingston, is to be called VIA....
Shares in Fontana Limited led market gains for the first nine months of the year, owing in part to the anticipation of its new flagship store, which is scheduled to open today, Wednesday. The pharmacy company, which trades under the FTNA symbol,...
Private equity firm Proven Investments Limited will sell at least half its stake in Access Financial Services to finance acquisition of more shares in JMMB Group during its pending offer to the public, the Financial Gleaner understands. Failure to...
