Fri | Aug 23, 2019

Business

Published:Friday | August 23, 2019 | 12:35 AM

The major online marijuana shop directory and cannabis marketplace Weedmaps announced Wednesday that it will no longer allow black-market businesses to advertise on its site, a decision that could boost California’s efforts to rein in its vast...

Published:Friday | August 23, 2019 | 12:35 AM

The United States federal budget deficit is expected to balloon to more than US$1 trillion in the next fiscal year under the first projections, taking into account the big budget deal that President Donald Trump and Congress reached this summer,...

Published:Friday | August 23, 2019 | 12:34 AM

The European Central Bank (ECB) is weighing a broad package of stimulus measures, including an interest rate cut and new bond purchases to counter worries that economic growth is slowing more than expected amid US-China trade tensions. The written...

Published:Friday | August 23, 2019 | 12:33 AMHuntley Medley - Senior Business Writer

Citibank NA has long transformed its global operations into a lean, mean machine and its Jamaica business, headed for the past two year by career banker Eva Lewis, is not venturing outside the worldwide business model. Still, the American bank,...

Published:Friday | August 23, 2019 | 12:30 AMKarena Bennett - Business Reporter

The Urban Development Corporation (UDC) the Government agency that owns Dunn’s River Falls and Park Attraction, has sought to disassociate the tourist attraction from a US-based cannabidiol data-gathering company, HQ Global, which claims it will be...

Published:Friday | August 23, 2019 | 12:28 AMMcPherse Thompson - Assistant Editor-Business

Minister of Finance and the Public Service Dr Nigel Clarke says that in the event that there is a significant downturn in the global economy that has a large enough effect on Jamaica, the fiscal responsibility laws will provide room for a policy...

Published:Friday | August 23, 2019 | 12:27 AM

Foreboding skies and driving rain bolster the sullen mood in Buenos Aires. The long weekend was full of recriminations, interviews and Monday-morning quarterbacking. Economy Minister Nicolás Dujovne tendered his resignation, and he was replaced by...

Published:Friday | August 23, 2019 | 12:25 AMNeville Graham - Business Reporter

When Caribbean Producers Jamaica’s (CPJ)new technology platform collapsed at it’s commissioning, it not only disrupted customer orders, but created a spiral that derailed the company’s earnings and put at risk its undertakings to creditors who...

Published:Friday | August 23, 2019 | 12:24 AM

The United States job market isn’t quite as strong as originally believed – with revised figures showing that the economy had 501,000 fewer total jobs this March than initially reported. The US Labor Department said Wednesday that nearly two-...

Published:Friday | August 23, 2019 | 12:24 AM

Desnoes & Geddes Limited, which trades as Red Stripe Jamaica, has a new managing director, Luis Prata, who was appointed Monday, August 19 as replacement for Ricardo Nuncio...

Published:Friday | August 23, 2019 | 12:22 AMAvia Collinder - Business Reporter

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...

Published:Friday | August 23, 2019 | 12:22 AMNeville Graham - Business Reporter

Seprod’s grain joint venture has opened up export markets in four regional countries in the near two years that it has been in operation. And while Seprod CEO Richard Pandohie was not specific on the details, he said the payback on the more than $...

Published:Friday | August 23, 2019 | 12:22 AMAvia Collinder - Business Reporter

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...

Published:Thursday | August 22, 2019 | 12:25 AM

China said on Wednesday that it will levy sanctions against United States companies linked to a planned US$8 billion sale of advanced F-16V fighter jets to Taiwan in a move that has further strained Sino-American relations. The United States should...

Published:Wednesday | August 21, 2019 | 12:35 AM

Stocks fell broadly on Wall Street Tuesday after another slide in bond yields and a mixed batch of corporate earnings weighed on the market. The selling pulled every major sector lower, snapping a three-day winning streak for the S...

Published:Wednesday | August 21, 2019 | 12:29 AM

More than five years after four persons filed a lawsuit against the National Solid Waste Management Authority, NSWMA, seeking ­damages arising from a 2012 fire at the Riverton City dump in Kingston that they said affected their health, the matter...

Published:Wednesday | August 21, 2019 | 12:28 AM

Celebration Brands Limited, which is jointly operated by Red Stripe Jamaica and partner Pepsi-Cola Jamaica, opened a new warehouse on Spanish Town Road in Kingston on Tuesday that it has branded as Logic One. The moniker, as described by...

Published:Wednesday | August 21, 2019 | 12:23 AMKarena Bennett/Business Reporter

Port Royal has secured a second cruise ship to call at the port, but not until 2022. Crystal Cruises, an American cruise line based in Los Angeles, California, has listed the Port Royal cruise port as one of 219 destinations it will explore in 83...

Published:Wednesday | August 21, 2019 | 12:14 AM

Higher operating expenses pushed food distributor Everything Fresh Limited into the red in the June quarter, as the importer and distributor integrated the recently acquired Meat Experts into its operation. Everything Fresh revenue improved by...

Published:Wednesday | August 21, 2019 | 12:14 AM

Electrical company FosRich expects to bounce back from a flat half-year, saying its performance to date resulted from one-off events, including an unexpected tax bill. Managing Director Cecil Foster says the company, which recently added...

Published:Wednesday | August 21, 2019 | 12:13 AM

David Noel, the head of Scotia Group Jamaica, whose remit includes oversight of select countries in Scotiabank International’s regional operations, says Belize remains within the Caribbean network. It was as close as he seemed prepared to get in...

Published:Wednesday | August 21, 2019 | 12:07 AMAvia Collinder/Business Reporter

Ryan Reid, president and CEO of First Rock Capital, is set to travel to Costa Rica this week to oversee a residential transaction in that country valued at US$3 million. Pierre Shirley, vice-president in charge of real estate business, is in...

Published:Wednesday | August 21, 2019 | 12:06 AM

California’s struggling legal cannabis industry is expected to grow this year to US$3.1 billion, but it remains outmatched by a thriving illegal market ripe with bargains, a report concluded Thursday. Consumers are spending roughly US$3 in the...

Published:Wednesday | August 21, 2019 | 12:05 AM

Spaceport America is no longer just a shiny shell of hope that space tourism would one day launch from this remote spot in the New Mexico desert. The once-empty hangar that anchors the taxpayer-financed launch and landing facility has been...

Published:Wednesday | August 21, 2019 | 12:05 AM

The Economic Commission for Latin America and the Caribbean, ECLAC, has reported a deterioration in the average quality of employment in the region in 2018, a situation it expects will worsen during the course of this year. The regional UN agency...

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