Business
Hurricane Beryl cost Jamaica $32 billion and sent the economy into decline, according to the Planning Institute of Jamaica. The Jamaican economy contracted by 2.8 per cent in the July-September 2024 quarter, while the outlook for the December...
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A water well currently being drilled for Caribbean Cream Limited, which trades as Kremi, could be a game changer for the ice cream company, which has already registered improved performance in 2024 over the previous year. CEO of Caribbean Cream,...
Sygnus Credit Investments Limited, SCI, aims to raise US$26 million in a new preference share offer to the market. It forms part of plans by the firm to secure as much as US$100 million in funds over the medium term. The current preference share...
The takeover of IT services firm, tTech Limited, is all but complete. Simply Secure Limited, owned by Kevin Gordon and Rob Mayo-Smith, has increased its shareholding in tTech to 69.1 per cent, representing 73,229,223 of the 106,000,000 shares...
The food and beverage supplier, Caribbean Producers Jamaica Limited, CPJ, recorded a net loss of US$80,700 for the September first quarter, reversing a profit of US$1.2 million in the comparable period last year. Quarterly sales dipped slightly to...
Bitcoin topped US$98,000 for the first time Thursday, extending a streak of record after record highs since the United States presidential election. The cryptocurrency has rocketed more than 40 per cent in just two weeks. Now, bitcoin is at the...
Human-caused climate change made Atlantic hurricanes about 18 miles per hour (29 kilometres per hour) stronger in the last six years, a new scientific study found Wednesday. For most of the storms – 40 of them – the extra oomph from warmer oceans...
JMMB Group Limited expects further reduction in interest rates this week but remains concerned about the reduced spending in the economy. The Bank of Jamaica, BOJ, will decide on Thursday whether to hold or adjust its policy rate, now at 6.5 per...
In a first for Jamaica, 16 tonnes of liquid medical-grade oxygen have been exported to Caribbean neighbour The Bahamas. The shipment also represents Massy Gas’ first effort in a big export push. The company has another plant in Trinidad and Peter...
A softening of demand for frozen and chilled products, lower visitor arrivals, the reduction in remittances, and some inflationary effects “all seemed to have resulted in lower-than-expected overall consumption” during the September quarter,...
Sagicor Group Jamaica Limited, SGJL, saw its profit for the September 2024 third quarter fall to $2.7 billion, a 40 per cent decline compared to the same period last year, because of economic challenges. “Despite the difficult economic climate and...
Investment outfit GK Capital Management Limited is touting a new frontier called alpha investing. Managing Director Kareem Tomlinson says the company is introducing a business model that will allow investors to chart a way forward with greater...
Spirit Airlines, the largest budget carrier in the United States, filed for Chapter 11 bankruptcy protection Monday. The airline said customers should not see any disruption to their travel plans while the process unfolds. The filing followed years...
Microsoft CEO Satya Nadella is opening a company conference in Chicago with remarks that could set the stage for where it’s taking its artificial intelligence business. AI developers are increasingly pitching the next wave of generative AI chatbots...
Building the current crop of artificial intelligence chatbots has relied on specialised computer chips pioneered by Nvidia, which cornered the market and made itself the poster child of the AI boom. But the same qualities that make those graphics...
Just as a simple lever can move heavy objects, rich nations are hoping another kind of leverage — the financial sort — can help them come up with the money that poorer nations need to cope with climate change. It involves a complex package of...
