Tue | May 19, 2026

Business

Regulators greenlight bitcoin funds

Published:Friday | January 12, 2024 | 12:11 AM

Nearly a dozen new bitcoin funds were expected to begin trading on Thursday, a day after seemingly divided United States regulators granted approval. The new exchange-traded funds, or ETFs, will give investors an asset that closely tracks the price...

Wigton to repower its systems

Published:Friday | January 12, 2024 | 12:11 AM

Wind energy company Wigton Windfarm Limited is targeting March 2024 to commence the replacement of its aged-out collection of wind turbines installed in its early phase of operation two decades ago. Managing Director Earl Barrett says having...

Eric Posner | The AI octopus

Published:Friday | January 12, 2024 | 12:10 AM

With long-gestating antitrust cases against Google, Apple, and Amazon coming to fruition, many observers think that 2024 could be a turning point for Big Tech. Yet, even as authorities press ahead with this litigation, they risk being blindsided by...

AI-powered misinformation the world’s biggest short-term threat, Davos report says

Published:Friday | January 12, 2024 | 12:10 AM

False and misleading information supercharged with cutting-edge artificial intelligence that threatens to erode democracy and polarise society is the top immediate risk to the global economy, the World Economic Forum said in a report on Wednesday...

Stocks Round Up | JSE combined index loses more ground

Published:Thursday | January 11, 2024 | 2:53 PM

The Jamaica Stock Exchange (JSE) Combined Index closed Thursday, losing more ground. The moderate trading ended with an advance/decline ratio of 40/50 The JSE Combined Index declined by 991.35 points or 0.30 per cent to close at 332,385.19. The JSE...

New US rule tightens worker classification standards

Published:Thursday | January 11, 2024 | 12:05 AM

The Biden administration enacted a new labour rule on Tuesday that aims to prevent the misclassification of workers as ‘independent contractors’, a step that could bolster both legal protections and compensation for millions of persons in the...

SEC approves new bitcoin funds in move that could spur more investment in the digital currency

Published:Wednesday | January 10, 2024 | 8:19 PM

NEW YORK (AP) — The Securities and Exchange Commission on Wednesday reluctantly approved the first exchange-traded funds that hold bitcoin, saying it is still deeply sceptical about cryptocurrencies and that its decision did not mean it...

Stocks Round Up | 105 stocks traded today

Published:Wednesday | January 10, 2024 | 6:29 PM

The Jamaica Stock Exchange (JSE) Combined Index closed Wednesday losing ground marginally. The brisk trading ended with an advance/decline ratio of 46/40. The JSE Combined Index declined by 2,637.22 points or 0.78 per cent to close at 333,376.54....

José Ocampo| Escaping Latam’s second lost decade

Published:Wednesday | January 10, 2024 | 12:09 AM

Latin America has come to the end of its second lost decade of development. Average annual growth hovered just below 0.9 per cent for the 2014-23 period – worse than the 1.3 per cent rate in the 1980s. GDP per capita, however, is projected to be...

Global economy will slow for third straight year in 2024, World Bank predicts

Published:Wednesday | January 10, 2024 | 12:08 AM

Hobbled by high interest rates, persistent inflation, slumping trade and a diminished China, the global economy will slow for a third consecutive year in 2024. That is the picture sketched by the World Bank, which forecast on Tuesday that the world...

Climate stress tests coming for banks, fincos

Published:Wednesday | January 10, 2024 | 12:06 AMSteven Jackson/Senior Business Reporter

Regulators have been engaging with Jamaica’s financial companies on plans for better stress tests to protect the financial sector from a changing climate, and expects to ramp up on the collection of data towards that goal, a new report shows. There...

US launches business database aimed at unmasking shell company owners

Published:Wednesday | January 10, 2024 | 12:06 AM

United States Treasury Secretary Janet Yellen announced that 100,000 businesses have joined a new database that collects ‘beneficial ownership’ information on firms as part of a new government effort to unmask shell company owners. Yellen said in...

NIF climbs to $175b

Published:Wednesday | January 10, 2024 | 12:05 AM

The National Insurance Fund, NIF, the source from which public pension payments are made, was now valued at around $175 billion in fiscal 2023. The figure, though subject to audit verification, is a significant improvement over the $143 billion...

JSE, Nairobi exchanges ink cross-listing pact

Published:Wednesday | January 10, 2024 | 12:05 AM

The Jamaica Stock Exchange and Nairobi Securities Exchange, NSE, have signed a memorandum of understanding committing to financial market collaboration. The JSE expects the collaboration to open up opportunities for green bonds and real estate...

Companies Office puts over 2,000 delinquents on notice of deregistration

Published:Wednesday | January 10, 2024 | 12:05 AM

The Companies Office of Jamaica, COJ, has put more than two thousand companies on notice of being struck from its rolls if they don’t file missing annual returns and produce information on their beneficial ownership. Beneficial ownership...

Wilco Finance gets private equity funding

Published:Wednesday | January 10, 2024 | 12:05 AM

A private equity fund anchored by VM Investments Limited and the Development Bank of Jamaica has taken a stake in microlender Wilco Finance Limited. Wilco CEO Nikisha Walters says JASMEF or the Jamaica Actus Small and Medium Enterprise Fund is now...

Stocks Round Up | Ciboney the biggest winner today

Published:Tuesday | January 9, 2024 | 4:33 PM

The Jamaica Stock Exchange (JSE) Combined Index closed Tuesday advancing marginally. The slow to moderate trading ended with an advance/decline ratio of 39/48. The JSE Combined Index advanced by 503.65 points or 0.15 per cent, to close at 336,013....

Two large offshore wind sites sending power to the US grid for the first time

Published:Tuesday | January 9, 2024 | 12:05 AM

For the first time in the United States, turbines are sending electricity to the grid from the sites of two large offshore wind farms. The joint owners of the Vineyard Wind project, Avangrid and Copenhagen Infrastructure Partners, announced...

Stocks Round Up | JSE begins week on winning note

Published:Monday | January 8, 2024 | 6:00 PM

The Jamaica Stock Exchange (JSE) Combined Index closed Monday on a winning note. The moderate trading ended with an advance/decline ratio of 52/41. The JSE Combined Index Combined Index declined by 235.55 points or 0.07 per cent, to close at 335,...

Global food prices declined from record highs in 2022, UN says

Published:Sunday | January 7, 2024 | 12:11 AM

Global prices for food commodities like grain and vegetable oil fell last year from record highs in 2022, when Russia’s war in Ukraine, drought, and other factors helped worsen hunger worldwide, the UN Food and Agriculture Organisation said Friday...

Oran Hall | Transferring shares to a relative

Published:Sunday | January 7, 2024 | 12:11 AM

QUESTION: I have been trying to get information about transferring shares between relatives (strictly transfer – no buy/sell sale involved). I invested in three companies back in the late 1990s and currently hold paper share certificates with them...

Francis Wade | Creating a memorable vision of the future

Published:Monday | January 8, 2024 | 12:05 AM

As a founder or CEO in your company, you want to get the most from stakeholders. Some react positively, wanting the best for the organisation. But now and then, you observe glaring gaps even among motivated individuals. For example, their...

New cars hit top gear as pre-owned market runs out of gas

Published:Sunday | January 7, 2024 | 12:09 AM

With only a month of outstanding data left to close the year on reports from the Port Authority of Jamaica on auto imports, used-car dealers are singing the blues while new-car dealers are rushing to satisfy new demand as Jamaicans step up to SUVs...

China’s BYD now rivalling Tesla in size

Published:Sunday | January 7, 2024 | 12:08 AM

A less flashy Chinese electric vehicle maker is fast closing the gap with Tesla, the longtime, market-leading pioneer. BYD Company, based in the southern China tech hub of Shenzhen, dethroned Texas-based Tesla Inc as the top seller of electric cars...

Wall Street’s hopes for rate cuts may be too optimistic

Published:Sunday | January 7, 2024 | 12:08 AM

Even when everyone agrees that the interest-rate cuts that Wall Street craves so much are coming, there is still room for potential disappointment. Since the United States Federal Reserve hinted last month that its drastic rate hikes to get...

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