Tax Administration Jamaica and Bank of Jamaica, BOJ, which regulate various aspects of commerce, want to know more about your online Christmas shopping. It forms part of a wider effort to get more data on digital trade in and outside the island....
Portland Caribbean Fund III has raised US$100 million under the first closing of the new fund. The European Investment Bank, EIB, acted as a key investor in the first phase. The commitment by the bank, which is ultimately owned by member states of...
Telecommunications provider Digicel Group plans to become carbon-neutral by 2050, which means that it will implement projects geared at slashing its impact on the climate to nil — starting now. The globe experienced the hottest summer on record,...
Securities dealer Mayberry Group (MGL), which recently finalised its reorganisation plans, also revealed that it holds $240 billion in funds under management (FUM) or more than tenfold higher than earlier stated levels, as the figure now includes...
Experts will meet with state technocrats today to discuss the implications of raising the island’s hotel room count to 50,000 rooms in five years. The island will benefit from some US$4 billion in investments to develop these new rooms, which...
Lumber Depot, the hardware store in Papine, St Andrew, expects sales growth in 2024 despite declines in the wider construction sector. “We expect to grow sales volumes,” said Chairman Jeffrey Hall, in response to Financial Gleaner queries. The...
The record summer heat was met with empty taps for Jamaican consumers. National Water Commission, NWC, plans to embark on a series of projects over the long term to relieve drought conditions, but there may also be an ancient solution that saves...
Seprod Limited plans to become a US$1-billion, revenue-generating company in about two years, which requires doubling its annual sales. The food manufacturing and distribution company, which produces brands such as Chiffon margarine, Betty...
Power utility Jamaica Public Service Company, JPS, plans to add nearly 300 megawatts of energy to the national electricity grid in support of the government's 50 per cent renewable energy target. It has put out tenders seeking engineering and...
Businessman and investor Michael Lee-Chin is to meet with Portland Holdings bondholders for a discussion on the company’s liquidity and ending of the hiatus of dividends from NCB. It comes amid delayed payments on bonds issued by Portland. Lee-Chin...
The Government of Jamaica plans to install new software that closes loopholes for traffic ticket evaders. It is inviting consultants to tender solutions this month, and stakeholders met on Tuesday to discuss the business case for implementing the...
Financial conglomerate JMMB Group Limited has grown its country network to four operational territories with the addition of Barbados. The diversification across countries and business lines, management said, was a key factor in the group’s...
Century Aluminum Company, the owners of Jamalco, disclosed on Wednesday that during summer, the power generation unit at the Clarendon-based refinery malfunctioned, costing the company about US$22 million. The loss translates to $3.4 billion in...
Local coffee traders are facing a hot dilemma over the fulfilment of US$100,000 worth of orders to China. If the beans are shipped, Customs in China may allow them to be cleared and sent through to customers, but it’s just as likely that the...
Ringtail International Inc, an equal joint venture between Select Brands from Jamaica and Stansfeld Scott Inc of Barbados and the United States, is finalising the acquisition of Stone’s Ginger Wine, with expectations to grow the global supply...
The rumble in the spirits market over the composition and redefinition of Jamaican rum is in part driven by a French company that co-owns National Rums of Jamaica Limited, NRJ, industry sources in Jamaica and Barbados have said. The division...
IEC Energy Company Limited, which recently became the majority shareholder of Ciboney Group, has made an offer for the minority shares that’s priced substantially below the former hotel company’s current market price. Still, the mandatory offer is...
The Government of Jamaica has finally invited bids from investors for the provision of an additional 100 megawatts of renewable energy capacity, ending a yearslong wait by the sector. It comes amid refreshed plans and a more ambitious goal to...
VM Investments Limited got whipped by monetary belt-tightening, and falling investor confidence, which pushed down its earnings by 94 per cent in the June quarter. Still the company said its team was “resolute” and would press ahead with growth...
Jamaican stocks sank to new depths last week, pushing the market beyond its lowest point during the height of the coronavirus pandemic. It’s the second time it’s done so since this year. Investors are shifting funds towards fixed-income investments...
The Financial Services Commission, FSC, warned fund managers to stay vigilant to protect against the further erosion of clients’ pension funds, which took a $2 billion beating in the first quarter, amid the continued slide in equities on the stock...
A start-up venture called Offshore Oasis Limited wants to construct and operate an overwater bar attraction that will target business from tourists as well as locals. It’s awaiting approval from the National Environment...
The current heatwave in Jamaica is symptomatic of a wider warming climate that experts think may fuel a once-in-a-lifetime hurricane. And if such conditions were to persist and trigger a 100-year event, Jamaica could face a fallout of more than US$...
Soap maker Blue Power Group Limited is looking to triple its revenue in five years, which would push annual sales above $2.5 billion. The plan rests on the addition of new lines of bath and liquid soaps, including the introduction of special-sized...
