Under its new leadership, NCB Financial expects to pay dividends before year-end as part of its strategy to cut some $15 billion in costs, with about 20 per cent of that relating to legacy executive compensation “I am very happy. This is the...
Jamaica has secured two new facilities from the International Monetary Fund (IMF), totalling US$1.7 billion, that will allow the country to transition to greener energy projects while providing a buffer for war sanctions and commodity shocks. “...
Finance Minister Dr Nigel Clarke has appealed to brokers to stop marketing complex public offerings to the general public without adequate risk disclosures. In his address at the Jamaica Stock Exchange’s (JSE) Capital Markets Conference on...
Caribbean Cement Company, supplier to a resilient construction market, made $2.2 billion over three quarters to September, reflecting a one-third growth in earnings amid the pandemic. Not only has Caribbean Cement outperformed its nine-month...
Money transfers to Jamaica are projected to have grown 14 per cent for the June quarter, reflecting a recovery from the initial onslaught of the pandemic, based on Bank of Jamaica, BOJ, preliminary estimates. For the month of June alone,...
Two foreign experts have declined board appointments at the scandal-hit state-owned oil refinery Petrojam. Energy Minister Fayval Williams expects to reconstitute the full board by year end. “If you are not a Jamaican familiar to the cut and thrust...
Knutsford Express Limited, which provides cross-country bus services, has invested about US$400,000 (J$55 million) to acquire its overseas bus-hireage service, KE Connect US. The company chose to invest a manageable amount in the business rather...
Jamaica’s transition to cleaner liquefied natural gas (LNG), now at nearly 25 per cent of generated power for the national grid, will move to 80 per cent in four years. It will result in one private supplier, United States-based New Fortress Energy...
The industrial air-conditioning supplier CAC2000 Limited reported that its sales dropped by one-third and its losses grew more than tenfold in the January quarter 2019 compared with the previous year, arising from roadwork disruptions adjacent to...
Third-quarter revenue at the Jamaica Broilers Group (JBG) grew by double-digits but costs contained profits to single-digit growth. Earnings per share totalled 73 cents for the quarter ending January 2019 versus $61 cents a year earlier. The group...
In the face of criticism that his $14-billion tax break was inequitable, Nigel Clarke, Jamaica’s finance minister, gave a staunch defence of his $803-billion Budget but made two concessions raised by the Opposition in order to remove distortionary...
Prime Minister Andrew Holness has assigned Karl Samuda to oversee the Ministry of Education, Youth and Information. Samuda is a minister without portfolio in the Ministry of Economic Growth and Job Creation whose remit included oversight of water,...
