Business

Ian Fleming passenger traffic grows from tens to hundreds

Published:Friday | June 14, 2024 | 12:10 AM

American Airlines’ recent addition of Ian Fleming International Airport to its flight route has resulted in an exponential rise in business for the small airport. The number of passengers passing through Ian Fleming are still small, but the trend...

Mini warehouse units will be ready in a year, says KPREIT

Published:Friday | June 14, 2024 | 12:10 AM

Kingston Properties Limited, KPREIT, says there has been heavy interest from investors in its 14-unit mini warehouse project being built near Cross Ross in Kingston, the execution of which is now expected to begin two to three months later than...

Fed sees some progress on inflation but envisions just one rate cut this year

Published:Friday | June 14, 2024 | 12:10 AM

Federal Reserve officials said on Wednesday that inflation in the United States has fallen further towards their target level in recent months, but signalled that they expect to cut their benchmark interest rate just once this year. The...

KPREIT steps up search for properties in UK

Published:Friday | June 14, 2024 | 12:10 AMLuke Douglas - Senior Business Reporter

Kingston Properties Limited, which trades as KPREIT, has stepped up its search for properties in the United Kingdom as it seeks to further diversify its real estate assets beyond markets in the Caribbean and the United States. CEO Kevin Richards...

Lucrezia Reichlin | Inflation targeting in the age of climate change

Published:Friday | June 14, 2024 | 12:10 AMLucrezia Reichlin - Guest Columnist

At the end of April, in a speech at the Sorbonne, French President Emmanuel Macron suggested that European leaders should consider broadening the European Central Bank’s mandate to include decarbonisation targets. His proposal has mostly been...

Fesco leaps ahead of local gas pack

Published:Friday | June 14, 2024 | 12:09 AM

Fesco has overtaken Petcom as the largest locally owned gas station brand, but still trails the big multinational petroleum marketing companies, whose networks range from double to quadruple its size, based on industry data garnered by the...

American dairy farmers confronting bird flu

Published:Friday | June 14, 2024 | 12:09 AM

As the US dairy industry confronts a bird flu outbreak, with cases reported at dozens of farms and the disease spreading to people, the egg industry could serve as an example of how to slow the disease, but also shows how difficult it can be to...

As the need for copper rises, cable manufacturers recycle more

Published:Friday | June 14, 2024 | 12:09 AM

In an industrial suburb of Montreal, sheets of copper move along a conveyor belt suspended four stories above the floor of a foundry – a metals plant – until they drop into a lava-hot furnace. Next come pieces of discarded copper wire. Out of the...

US inflation cools, a sign price pressures may be easing

Published:Thursday | June 13, 2024 | 12:08 AM

Inflation in the United States eased in May for a second straight month, a hopeful sign that a pickup in prices that occurred early this year may have passed. The trend, if it holds, could move the US Federal Reserve closer to cutting its benchmark...

Kingston airport runway upgrade to cost US$66m

Published:Wednesday | June 12, 2024 | 12:08 AMSteven Jackson - Senior Business Reporter

The planned addition of a 300-metre safety zone to the runway at Norman Manley International Airport, NMIA, will cost US$66 million ($10.2 billion), funded by PAC Kingston Airport Limited, the entity that manages the airport. The project is still...

Apple leaps into AI with array of upcoming iPhone features, ChatGPT deal

Published:Wednesday | June 12, 2024 | 12:07 AM

Apple has jumped into the race to bring generative artificial intelligence to the masses, spotlighting a slew of features Monday designed to soup up the iPhone, iPad and Mac. And in a move befitting a company known for its marketing prowess, the AI...

World Bank boosts global forecast

Published:Wednesday | June 12, 2024 | 12:07 AM

The World Bank upgraded its outlook for the global economy Tuesday, estimating that it will expand 2.6 per cent this year on the strength of sustained growth in the United States. The bank’s latest outlook marks an increase from the 2.4 per cent...

From low-end to luxury

Published:Wednesday | June 12, 2024 | 12:06 AMSteven Jackson - Senior Business Reporter

The Urban Development Corporation, UDC, wants a test the viability of building low, middle and high-end homes in seven areas across five parishes, with low-end prices capped at $20 million. The developments can include studios, villas, town houses...

Scotia Group mortgages still growing in competitive market

Published:Wednesday | June 12, 2024 | 12:05 AM

The growth of Scotia Group Jamaica’s mortgage loan portfolio continues to outpace other loan categories. On the back of robust growth in loans, overall, the banking group reported bigger profits in the second quarter ending April, up 30 per cent...

Investment firm takes US$1.9b stake in Southwest Airlines

Published:Tuesday | June 11, 2024 | 12:08 AM

Activist shareholder Elliott Investment Management has bought a US$1.9 billion stake in Southwest Airlines and is seeking to force out the CEO of the airline, which has struggled with operational and financial problems. Shares in the airline rose...

Francis Wade | Reversing neglect: Vale Royal and Vision 2030 Jamaica

Published:Sunday | June 9, 2024 | 12:11 AM

Your company has proclaimed a vision for the future. You have done a good job, pleasing a range of stakeholders. But how do you maintain momentum beyond the initial launch so that tangible results are achieved? It is said that Jamaica is a nation...

Dambisa Moyo | The moral hazard of lower interest rates

Published:Sunday | June 9, 2024 | 12:08 AM

When interest rates decline and stabilise, financial market participants tend to take on greater leverage and risk. The challenge for regulators, then, is to prevent those risks from becoming systemic and causing a broader economic crisis. Capital...