In an update on the pipeline for new hotels, the Government of Jamaica, GOJ, disclosed in foreign market filings that there are US$2.5 billion worth of projects to be executed over the medium term, but at least of them might fall off the list. The...
Latinas contributed US$1.3 trillion to the United States’ gross domestic product in 2021, up from US$661 billion in 2010 and at a growth rate nearly triple that of non-Latinos during the same time period, according to a new report funded by Bank of...
Facing competition from automakers with lower costs, Ford Motor Company is shifting its electric vehicle strategy and now will focus on making two new electric pickup trucks and a new commercial van. The company says all will cost less, have longer...
The United States Treasury Department has issued regulations aimed at making it harder for criminals to launder money by paying cash for residential real estate. Under rules finalised Wednesday, investment advisers and real estate professionals...
As populations age worldwide, the demand for care services is reaching unprecedented levels, presenting complex challenges for all societies, but particularly those in the developed world. This is also true for Uruguay, where the demographic...
The Colombian airlines Avianca and Latam Colombia said late Monday they will operate most of their flights Tuesday and resume full schedules today, Wednesday, after warning earlier they would have to cancel dozens of flights due to shortages of jet...
China on Tuesday accused Canada of protectionism after Prime Minister Justin Trudeau’s government imposed a 100 per cent tariff on imports of Chinese-made electric vehicles, matching US duties on Chinese-made EVs. The Chinese Commerce Ministry said...
Supermarket chain Albertsons told a federal judge Monday that it might have to lay off workers, close stores and even exit some markets if its planned merger with Kroger isn’t allowed to proceed. The two companies proposed what would be the largest...
Lands under the management of the Agro-Investment Corporation suffered losses of $700 million as a result of Hurricane Beryl on July 3, which pummelled crops and infrastructure on the properties it manages in partnership with investors. Agro-Invest...
Vertex SME Holdings Limited, a private equity vehicle managed by JMMB Securities Limited, has acquired a 35 per cent equity stake in medical imaging and diagnostic company Erin Radiology. JMMB declined to comment on cost of the cost of the...
Derrimon Trading Company Limited will be exporting the Sampars brand to New York, where its two American grocery businesses are currently shuttered amid repairs, and have become a drag on its bottom line. The Jamaican company plans to rebrand its...
The legislature of Mexico City approved the most ambitious rent control law since the 1940s on Thursday, limiting rent increases to the rate of inflation in the previous year. Rents in the vast city of nine million inhabitants were essentially...
Local commercial banks are fanatics about making money. This is the answer to the question posed in the headline of Lisa Hanna’s article in last Sunday’s Observer – ‘Is This Fair? JA Banks Buy US$ Low and Sell High’. The attention-grabbing...
When confronting the choice between truth and power, Shakespeare’s Hamlet poses his famous existential question: “To be or not to be?” The search for an answer will confront heroes and villains alike with the prospect of death or despair. Like...
With inflation nearly defeated and the job market cooling, the Federal Reserve is prepared to start cutting its key interest rate from its current 23-year high, Chair Jerome Powell said Friday. Powell did not say when rate cuts would begin or how...
As soon as she stepped onto Mexican soil last week, Venezuelan migrant Yuri Carolina Meléndez downloaded the US government’s app to apply for asylum appointments. The CBP One app has been around, but as of Friday migrants in Mexico’s southernmost...
When David Miller, the executive director of the Fair Trading Commission, noted in 2012 that a “regulator is supposed to bridge the gap between investors and consumers in the interest of maintaining a market that functions for all”, he was right...
In the past few months, there have been at least six viral videos, racking up hundreds of thousands of views, from social media users complaining bitterly and colourfully about poor customer service in Jamaica. What is even worse is that under...
Digital services company One Great Studio Company Limited, 1GS, says key changes by technology giant Google in how it operates its search engine have resulted in some customers of 1GS no longer paying for some services, resulting in reduced profit...
The financial performance of telecoms Digicel Group has stabilised, with its operations generating over US$14 million in cash for the year, leading to a rating upgrade by Moody’s. Digicel has been alleviated by some of its debt burden. However,...
Travel and tourism interests expect a reduction in tourist arrivals in 2024 but say the flows will still outperform the pre-pandemic benchmark. The sector’s fortunes were affected by Hurricane Beryl in July and a previous travel advisory from the...
Jamaica only has a single correspondent bank that’s willing to provide it with cash services, and that is partly why consumers are subjected to such large spreads on the foreign currency they buy and sell in transactions with local banks, the...
A federal judge in the United States has temporarily blocked exploratory drilling for a lithium project in Arizona that tribal leaders say will harm land they have used for religious and cultural ceremonies for centuries. Lawyers for the national...
