The world's largest buyer of aluminium, Novelis, has hit out at rising prices for the metal, saying that record premiums payable are "indefensible" and give "the appearance of an engineered squeeze" in the North American market.US Midwest...
Cushioned by tax credits, FirstCaribbean Jamaica made a net loss of $903 million last year amid falling interest income and a massive write-off of bad loans.The bank made a profit of $84 million in 2012 when its impaired loans amounted to $187 million.
The Urban Development Corporation (UDC) has sold the Forum Hotel for $350 million to Portmore Marine Developments Limited, a newly incorporated company in which Richard Lake is a shareholder....
Tyres-R-Us Limited, the operators of the Tyre Warehouse chain, have acquired a new base for the Newport West outlet, from where it will expand services provided to large trucks and buses.Tyre Warehouse will relocate...
Royal Bank of Canada is said to be cutting its losses in Jamaica and selling its banking assets to Sagicor Group Jamaica, according to different sources, one of whom said that lawyers were still poring over the final details last night...
Cable & Wireless Communications (CWC) has given up majority ownership of Bahamas Telecommunications Company (BTC), which trades as LIME Bahamas, in a deal with the government that will funnel two per cent of the company to a charitable foundation.
Sagicor Group has been providing financial solutions to its customers in Jamaica from as far back as 1970. Over the years, Sagicor (which means 'wise judgement') has been offering a wide range of services, including banking, investments, life and health insurance...
Global stocks continued to drop on Monday, extending a sell-off from last week that was triggered by concern over an economic slowdown in China and tremors among emerging-market currencies. Markets first became unsettled on Thursday, when a survey...
Samsung Electronics Company has signed an agreement with Google Inc to cross-licence their patents, reducing the risk of costly legal disputes over intellectual property and likely fostering greater collaboration between the two tech giants....
Even business experts with intimate knowledge of the system meet up on roadblocks. Yaneek Page, who dispenses advice to entrepreneurs on television, in print and through her own firm, Future Services International, has been trying for more than four years to commercialise a pepper spray made from local Scotch bonnet, which she developed as a crime-fighting tool.
Cash handlers can buy coverage for as low as $25,000, but premiums can range into millions of dollars, depending on the volume of money under management.
A regional animal geneticist is urging Jamaica to invest in the production of a barely known fish called pangasius, saying a ready market awaits in the United States (US) and elsewhere.
Venezuela's government is tightening a much-used loophole in rigid currency controls as part of an overhaul of its foreign-exchange system to safeguard a dwindling supply of dollars.
Patrick Hylton, group managing director of National Commercial Bank Jamaica Limited (NCB), said last Friday that the bank is still focused on becoming leaner and more efficient, and would drive savings through consolidation and outsourcing of some "sub-components".
The president of the European Commission (EC), Jose Manuel Barroso, has confirmed that Europe is presently in the process of debating a significant change in its policy towards Cuba.
If you have a keen interest in business you would have likely come across and the term big hairy audacious goals, or BHAGs. No matter how often I hear it, I still get excited and feel motivated to set bolder goals and be more courageous.
I changed the roof on my house during last year from wooden shingles to alu-steel. Would you recommend that I revalue the house before I renew the policy?
Alcoa Inc has completed the expansion of a plant in Iowa, which will produce aluminium sheet products for the automotive industry, amid expectations that aluminium demand from the sector will double by 2025.Alcoa invested US$300 million...
Jamaica has passed two of its quarterly IMF-directed tests agreed under the fund's Extended Fund Facility (EFF) with the Government. The co-chairman of the Economic Programme Oversight Committee (EPOC), Richard Byles of Sagicor, is quoted as saying that...
For 66 years, Ford pickups have been forged from steel. But the automaker is now unveiling a new F-150 with a body built almost entirely out of aluminium.
Dr Bert Van Selm, IMF resident representative in Jamaica, says some of the glitches which have arisen, including reduced liquidity within the financial sector should be addressed as the economic reform programme continues, leading over time to the...
Toyota again top-selling automaker - Toyota remained the top-selling automaker for a second year in a row, beating United States rival General Motors by some 270,000 vehicles in 2013.Toyota said Thursday it sold a record 9.98 million...
Regional banks that are recipients of payments and hard-currency flows from overseas could be sitting on a gold mine, according to financial consultant David Bartsch, who is proposing that the cash flows be securitised...
The Caribbean under-performed global capital markets in 2013, producing less than five per cent of the value of capital raised, even while the markets in the wider Americas did...
