In a show of confidence, financial conglomerate JMMB Group said it intends to grow through acquisitions and would resume paying dividends to shareholders. The M...
Mayberry Investments Limited CEO Gary Peart now presides as executive chairman over large gaming group Supreme Ventures Limited, SVL, but Mayberry’s chairman and SVL director Christopher Berry says it was never their intent to take an active role...
Unserviced bank and mortgage loans grew by one-third to $27.9 billion over the span of a year ending June, according to new central bank data. It’s the highest percentage rise in eight years and, as a dollar value, grew by $7.5 billion from $20.4...
Rainforest Seafoods will start installing a 1.5-megawatt natural gas power plant in Kingston next week, taking another step towards energy independence. The company will set up three 500-kilowatt turbines that will feed on natural gas. The plant...
The Jamaica Stock Exchange’s Main Index, when mapped on a chart, shows the formation of the largest bearish pattern in 25 years. The formation, which takes the classic head-and-shoulder shape of a market in transition, shows Jamaican stocks...
Jamaica Energy Partners, JEP, an operator of power plants and producer of electricity, is considering entering the electric vehicle charging market. “Our group, having started the listed operations in the Dominican Republic, entry into Panama and...
Caribbean Cement Company Limited may resume cement exports to the region, but says if it does, it won’t be at the expense of the Jamaican market. The cement producer supplies the bulk of the local market from its production facility at Rockfort in...
Productive Business Solutions, PBS, which sells printers, scanners and security devices, continues to shift towards technology services, with contracts from a major American retailer to add internet connectivity to supermarkets in five countries...
Some 50,000 customers took up Scotia Group Jamaica’s waiver of interest on some loans and credit cards during the May-July quarter. Within that period, the No. 2 banking group made net profit of $1.5 billion, but that was just over a third of what...
Sagicor Group Jamaica plans to do a real estate development in Spanish Town, St Catherine, says President and CEO Christopher Zacca. It follows acquisition of a majority stake in start-up real estate venture Bailey-Williams Limited, last year. “It...
Investors tend to trade stocks lower during the month of general election, but not so this time around. There was a rise in the JSE Combined Index both on the day of polls and the day after, albeit marginal movements that amounted to less than a...
The Jamaica Stock Exchange, JSE, eked out trading gains on election day within the wider context of the stock market and real economy in decline, due to the contractionary effects of the COVID-19 pandemic. It came amid news from the JSE after...
Blue Mountain Bicycle Tours is investing millions to expand its zipline attraction at Cedar Valley despite the COVID-19 pandemic, which could further delay the opening of the ride. The project involves setting up a second zipline, which would...
Workers planning to retire this year with a pension might want to reconsider and wait for a year or two, before they start pulling down on their retirement benefits, pension experts say. The advice stems from the decline in the value of pension...
New Fortress Energy, NFE, doubled its revenues in the June quarter to US$76 million, strengthened in part by earnings from its power facility at Jamalco which came on stream in March. In newly released financials, New Fortress reported that US$45...
Jamaican stock market investors are trading more online, with volumes already surpassing the levels seen in all of 2019, due in part to lockdown measures against the coronavirus. It shows that while slow, there is incremental transition to online...
In keeping with demand, medical masks, hand sanitisers and detergents aimed at fighting the spread of the coronavirus, dominate supplies in warehouses operated by Medical Disposables...
The Jamaican economy lost $4.5 billion of real value in the March quarter, numbers that capture just the first three weeks of virus-containment measures that were cited as the cause of the decline. Economic output, measured as gross domestic...
Jamaican telecommunications companies Digicel and FLOW continue to voice concerns that some new directives by the Office of Utilities Regulation (OUR) to mitigate against shock bills and credit depletion could negatively affect their financials....
Aurora, a Canadian listed cannabis company, has sold its Jamaica asset for less than its CDN$4.5 million valuation in order to get cash. “The company also accepted an offer to sell its Jamaica property for gross proceeds of CDN$3.4 million,” said...
PLAYA RESORTS, which operates hotels in Jamaica, Dominican Republic and Mexico, plans to reopen in July with the pitch of the resorts being a safe space away from the pandemic. The closure of the 23 hotels in its chain since late March will cost...
The operator Jamaica’s two largest airports wants to scrap or delay non-essential capital projects. It forms part of a wider halt of capital projects by the Grupo Aeroportuario del Pacífico – which translate to Pacific Airport Group, or GAP –...
New Fortress Energy, NFE, is suggesting gas assets will remain competitive, notwithstanding the collapse in oil prices to levels that are comparatively cheaper than natural gas. That’s due to lower maintenance costs and also the expectation that...
king conglomerate NCB Financial Group Limited announced that it has taken a $9 billion hit from COVID-19 so far, with the writedown of investments and foreign currency losses in the March quarter, but it also doubled its provision for credit losses...
