Recent moves to tighten the oversight of Jamaican charities have not been enough to satisfy money laundering watchdog Financial Action Task Force, FATF, which wants a more comprehensive approach to ensure that they are not being exploited as...
Caricom will need to update its tax arrangements to align with the movement towards a minimum global tax on businesses, and Minister of Finance Dr Nigel Clarke is pushing for the bloc to tackle the issue proactively. It’s a better approach than...
Proponents of crypto assets are trying to make the case that trade among Caribbean countries can double from current levels of US$2 billion by adopting digital money as complementary currency for transactions. One of the selling points was that...
The outsourcing sector grew seven per cent and added ten new customer contact centres in the past year, according to investment promotion agency Jampro. Half of the 10 sites were set up by existing operators, and half by new market entrants during...
Credit unions saw a dip in the quality of their loans last year, new central bank data shows, resulting in a non-performing portfolio above five per cent of total loans. But the Jamaica Co-operative Credit Union League, JCCUL, is insisting that the...
The property insurance portfolios of nearly a dozen general insurers grew markedly last year, on average, a newly released report from industry regulator Financial Services Commission, FSC, shows. But one of its knock-on effects was a diminution of...
DEBBIE ANN Gordon, appointed Trustee in Bankruptcy for Mystic Mountain Limited -- the attraction company that is going through insolvency proceedings - disclosed in a creditor’s report issued in March that she was in receipt of a request from...
THE STATE residential home builder, National Housing Trust, NHT, reported nearly $15 billion in losses on the sale of some of its joint finance mortgage portfolio. Under the Joint Finance Mortgage Programme contributors could get a joint loan...
THE 2021-2022 Global Entrepreneurship Monitor, GEM, report indicates that the gender distribution of Jamaica’s total early-stage entrepreneurial activity, TEA, are majority female, although, when compared to new businesses, the more established...
DIRECTOR OF Health Applications at Advanced Integrated Systems (AIS), Shekar Sanumpudi, indicates that the company is targeting a growing healthcare technology market within the wider Caribbean. Already, the company’s Provider Access System (PAS)...
CABRA RANCH Ventures Limited in Highgate, St Mary, is owned and run by Trudy Wilson and Ray Hammond, who say they were motivated by a love of goat milk products. They started the farm after doing research, and made an interesting discovery. “Only...
TWO YEARS after ostensibly losing its major investor, Proven Investments Limited (PIL), Dream Entertainment Limited indicates that it expects this year to supersede 2019 results. “We are expecting to surpass 2019 numbers in terms of the number of...
138 Student Living Jamaica, 138SL, the provider of accommodation for students at the University of the West Indies, says that while rental rates were increased this academic year, it was done in accordance with the concession agreement. The move...
Ibex Jamaica is adding 700 jobs through its new call centre in New Kingston, but intends to grow that number to about 1,000 by year end through further expansions in another parish, the choice of which is still to be finalised. The Ibex New...
ATL Group is revamping its appliance division, which was the heart of the business at its founding, a project that will see the company investing at a similar level to the buildout pursued for its automobile division, says CEO Adam Stewart. The...
There is a possibility that real estate ventures may see more funding from the $600 billion pension fund industry flowing their way. Recently passed pension amendments have tweaked restrictions on investment options related to the segment,...
Jamaica Cane Products Sales Limited, JCPS, is selling the Jamaica Gold brand under which it retailed sugar, one of the assets it is liquidating to pay off debt as the company winds up its operation. JCPS once had a monopoly over the marketing of...
The Coconut Board has acquired new harvesting equipment, called a tree climber, which it projects will cut the cost of reaping the crop by one-third. Those savings in dollar terms amount on average to $1,200 per tree, or $10 to $15 per coconut,...
Coffee processor Salada Foods Jamaica Limited has lined up a new specialty product for distribution in the United States as one measure to grow export earnings that currently contribute less than a fifth of revenue. The company also continues to...
The pace at which remittances have been flowing to Jamaica continues to slow, a trend the Bank of Jamaica (BOJ) says is linked, in part, to the tightening of Know Your Customer rules, which are affecting remittance companies that are required to...
So far, the intake of full-time American students under the agreement that the University of the West Indies, UWI, has with the federal government of the United States has been just two, who enrolled in the faculty of law in the past academic year...
Donald Moore, senior general manager of construction and development at the National Housing Trust, NHT, says the redesign of the Ruthven Towers development has added at least two floors to each apartment block. The project, to be done in phases,...
A window that was opened in the motor policy for the import of older vehicles has been shut after less than two years, but used-car dealers say it lived long enough to skew the market. The older eight-year-old autos coming into the market as a...
Real estate experts say that signs are pointing to an imminent oversupply of high-end apartments and that developers should consider slowing down those projects. Instead, they are pushing for more affordable homes, that is, residences costing less...
Dolphin Cove, having triumphed in court against environmentalists and citizens of Discovery Bay who were trying to block its Puerto Seco Beach attraction in St Ann, is now looking to the south coast as the next site for a marine park, says Chairman...
