Flavocure LLC, a drug company founded by Jamaican scientist Dr Henry Lowe, received its second orphan drug approval from the United States Food and Drug Administration (FDA) in late September for Caflanone, which treats pancreatic cancer. The...
Telecom provider Flow raised its cable rates in September and plans to raise mobile data rates come next month, while Digicel hiked its internet and cable fees in July which, according to regulatory data, reflects a wider shift across the sector...
Few local businesses in urban centres have ever accessed a business loan or even have internet connectivity, according to new findings from the Jamaica Survey of Establishments conducted by the Statistical Institute of Jamaica (Statin) and...
Lasco Financial Services 50 per cent tax waiver comes to an end a year, from now but the company is already making plans to offset the expected impact on its bottom line by aggressively growing revenue. Its new LascoPay-branded Mastercard, RIA...
The takeover of Gentry’s Poultry in the United States last week marks Jamaica Broilers Group’s entry into chicken production in that market. “This is the first that we are selling processed chicken in the USA. Prior to...
Financial conglomerate JMMB Group Limited expects to more than double its annual profit by March 2022 to $9 billion, arising from the stake being acquired in Barbados-based regional insurance provider Sagicor Financial. The Jamaican company is...
Pharmaceutical distributor Indies Pharma Jamaica Limited opted to draw on internal resources for the build-out of new operating space and has been shedding debt in the process. The company nearly doubled its expenses in the July third quarter to $...
The Jamaican Government paid US$1.2 billion to repurchase a portion of its foreign debt this week, a transaction that is expected to lead to billions of dollars in savings annually on interest payments. The take-up of the...
Jamaican brokers will soon be able to buy stocks listed in Canada without using a Canadian broker as an intermediary under a reciprocal arrangement that will also see Canadians being able to trade stocks on the Jamaica Stock Exchange, JSE. It will...
Banking conglomerate NCB Financial Group Limited is weighing the possibility of raising additional capital as buffer for its enlarged Caribbean operation that has now surpassed a trillion dollars in assets. It’s the first listed Jamaican company...
Jamaica Stock Exchange Limited, the JSE Group, grew its bottom line by more than a third in the second quarter, and the value of its shares are on the rise, but some brokers see the stock as pricey. JSE traded at $38.51 on Wednesday, but the...
New Fortress Energy, which commissioned its natural gas floating terminal off the coast of Old Harbour on Friday, plans to increase its gas output fivefold at the facility by year-end. The American company started pumping gas at the Old...
After hitting a two-year low on July 5, the Sagicor X Fund stock has regained some of its momentum amid announcements that the company plans to hunt for real estate assets across the region. From its low of $8.30, X Fund traded as high as $11.50...
Pirate tales, museums, shopping and crocodiles. That’s what will distinguish the Port Royal cruise experience. Jamaica can expect the spend from cruise passengers arriving at its fifth and latest port, the Port Royal Pier, to surpass US$40 million...
Food and logistics conglomerate Jamaica Producers Group is expanding its shipping business in the United Kingdom with new warehousing space to enable freight consolidation to the Caribbean. The expansion would increase warehousing capacity by 20,...
SSL Venture Capital Jamaica Limited, which trades as SSL Ventures, disclosed a disagreement with its auditor, whose conclusions about the quantification of goodwill regarding three new acquisitions it questioned in a filing posted on the stock...
Food and beverage trader Caribbean Producers Jamaica, CPJ, has listed a $500-million bond on the Jamaica Stock Exchange, after raising debt on the private market to refinance its borrowings. “We are retiring expensive debt which we had on the...
Shares in Sagicor X Fund ticked upwards after the release of its first-quarter results, but dipped following the announcement of a change of auditor. Richard Byles, chairman of the X Fund, indicated that the change in auditors from PwC St Lucia to...
The price of patties remains in line with inflation throughout a 10-year period, which suggests that a key staple for Jamaicans remains within overall price movements. Inflation is measured by the overall movement in a basket of goods which are...
Investors rallied junior market shares higher on the release of March-quarter results this week. Most are generating faster sales and profit than last year. This included Stationery and Office Supplies (SOS), which sells furniture and supplies,...
CHRISTCHURCH, Barbados: World Bank executives say storms in the Caribbean wreak damage of up to 2.0 per cent of output, annually, but they also see signs that large businesses are serious about preparedness. The current hurricane season started...
CHRISTCHURCH, Barbados: Regional insurance fund CCRIF Spc plans to implement new insurance products for utility providers and vulnerable professions. CEO Isaac Anthony argued that vulnerable groups, such as fishers and farmers, tend to be...
CHRISTCHURCH, Barbados: Jamaican financial conglomerates NCB Financial Group and JMMB Group hold large stakes in the biggest insurance companies in the Caribbean, which represents a prominent symbol of recovery from the 1990s when an over-...
Jamaica’s banks experience nearly two cyberattacks per week on average, and in one extreme month, hackers made off with $10 million, according to the latest official data. The average losses, however, amount to just over $4 million per month. “For...
Jamaican debt at nearly 57 per cent to disposable income appears high, but a top banker says the figure by itself is misleading. David Noel, who heads Jamaica’s No. 2 bank and is also the chief spokesman for the banking sector, says half of the...
