A $14-billion stimulus package is the centrepiece of the Government’s 2019-2020 Budget. Finance Minister Nigel Clarke announced a raft of tax-relief measures aimed at boosting economic activity by promoting business start-ups and removing fiscal...
After three-quarters of a billion dollars in expansion and upgrades, the Heart Institute of the Caribbean, HIC, has began building up its talent pool.The medical facility is planning a near-doubling of its staff as it positions as the regional...
The Haiti operation of the Jamaica Broilers Group are substantial enough to now be classified as its own geographic segment.That decision was put into effect over seven months ago, and now the poultry company has followed that up with an increased...
Muse360, a creative company founded by Andre Burnett, is carving out a different type of operation under which the agency operates as a financial backer of creative talents who become its business partners.It wants to make the sector 'investible' in...
Facey Group is offering up nearly 92 million of the shares it holds in Seprod Limited for sale to stock market investors, but will retain a 17 per cent stake in the company.Both entities are members of the privately held Musson Jamaica conglomerate....
Sterling Investments Limited's shareholders voted overwhelmingly to approve an increase in the company's share capital, a rights issue and a five-for-one stock split at an extraordinary general meeting on Monday.In excess of 90 per cent of the votes...
Situating his business at Dunoon Road near to some of the toughest neighbourhoods in east Kingston is but one of the many decisions that entrepreneur Kevin Frith has taken "against the grain".Since prematurely leaving Dunoon Technical High School in...
Wisynco Caribbean, the parent company for Wisynco Group Limited, has taken a 30 per cent stake in Worthy Park Estates, a sugar operation owned by the Clarke and McConnell families.The deal comes with a large distribution contract for Wisynco Group...
As Seprod grapples internally on whether to hang on to its sugar operation, the company is chasing a tax break to offset the losses that continue to mount in the near decade that it has owned the Golden Grove factory in St Thomas.Seprod CEO Richard...
Start-up investment company Sygnus Credit reported profit of US$1.4 million for year ending June 2018."As a start-up we set ourselves three objectives: raising enough capital through private placement that would be fully invested out in our first...
FosRich Company Limited, a trader in lighting and energy products, generated some heat of its own in June when it reported the best performing quarter in the company's history, according to its principal owner.Having revamped its supply chain and...
Richard Lake's Premium Farms in now the exclusive distributors for National Flour Mills, NFM, an agreement that covers eight products made by the Trinidadian company, initially, with more to be added later this year.The deal expands on the business...
For the first time in its 32-year history, The National Export-Import, EXIM, Bank of Jamaica is rolling out a loan sale to gin up business and pull in clients.EXIM's general manager for trade and commercial lending, Lenworth Tracey, says the board...
After racking up record revenues, which spurred a 24 per cent annual increase in profits, ISP Finance Services is looking to loan portfolio diversification and acquisitions to grow its business.Chairman Clifton Campbell said the company aims to set...
Starting today, Wednesday, two of Amber Connect's trackers will be available in the American market through large consumer electronics retailer, Best Buy.It's the Jamaican software and technology company's first foray into the retail space in the US...
Battery distributor Tropical Battery is returning to core business and broadening its involvement at that level, backed by capital from Portland Caribbean Fund II.Consequently, the 68-year-old company is backing away from forays into tyres and...
Tank Weld Equipment expected to sell 25 Shacman trucks this year, and placed that order with the Chinese manufacturer.But the units have already sold off, according to Managing Director John Ralston, who said at the launch of the new truck...
Faced with a nearly 43 per cent decrease in profit, listed insurance company General Accident is looking to technology and service improvements to boost profits.Speaking with the Financial Gleaner following the company's annual general meeting at...
Sales at lubricants company Paramount Trading Jamaica Limited spiked above a billion dollars over nine months ending February, but its expenses grew at a faster clip due to the acquisition of a new business, as well as its transition to a...
The Musson Jamaica group intends to maintain its holdings below 50 per cent of Seprod Limited, and avoid having to make a mandatory takeover offer for the entire company, under the distribution deal being finalised by the parties.Through Facey Group...
Online research service Queritel is beta-testing a new platform that went live in January, but which has already attracted 200 clients in three Caribbean countries, according to CEO Shani Bennett."The majority of our legal questions come from...
Seafood trader Rainforest is doubling solar energy capacity at its plant in Montego Bay, from 0.5 megawatt to one megawatt, at a cost of $75 million.When the project is finalised in two to three months, Rainforest will possess the capacity to...
An expanded footprint, enhanced customer experience and revenue diversification are three planks of the strategy going forward for listed company Supreme Ventures Limited (SVL), according to President and CEO Ann Dawn Young Sang.In her review of the...
Industry players say the next 90 days will be crucial as the world comes to grips with the move by the Donald Trump administration to impose tariffs on imports of steel. They say it is not yet clear what effect the tariffs, which come into force...
