Considering that there are so many Jamaicans living overseas and that they maintain close relations with their family and friends, it is not surprising that Jamaica receives a high level of remittances – more than US$3 billion annually. Being able...
The Earth’s climate is drastically changing, and although scientists have not agreed on the extent of the impact we can expect in the near and distant future, one thing is certain for enterprises in the tropics today: the cost of doing business...
Throughout history, the evolution of energy technologies has influenced the location of production. At the onset of the Industrial Revolution in the eighteenth century, factories were typically located near fast-moving rivers or under windmills...
Three years ago, The Gleaner tweeted the following: “There is the old cliché about the United States sneezing and everyone else catching its cold. These days, and in a literal sense, Jamaica’s biggest worry from America is the spread of the COVID-...
Poultry company Caribbean Broilers Group, CB, will be developing a pet food plant at its Newport Mills complex in Kingston, marking its re-entry to that market but on a wider scale than a decade ago. The project is still in its planning phase, but...
Blue Mountain Coffee Venture Limited, BMCV, is weighing a richer blend of tourism and coffee, with plans to add a hospitality component to its rural St Andrew operation as it looks for ways to grow the business. The company has indicated, however,...
Kadeen Mairs has resigned as chief executive officer of Dolla Financial Services. A notice posted late Friday on the Jamaica Stock Exchange said he had commenced ‘garden’ leave, effective July 28. Garden leave usually means the departing employee...
Kadeen Mairs has resigned as chief executive officer of Dolla Financial Services. A notice posted late Friday on the Jamaica Stock Exchange said he had commenced ‘garden’ leave, effective July 28. Garden leave usually means the departing employee...
The United States economy surprisingly accelerated to a 2.4 per cent annual growth rate from April through June, showing continued resilience in the face of steadily higher interest rates resulting from the Federal Reserve’s 16-month-long fight to...
America’s biggest and most complex banks will need to hold additional capital on their balance sheets under an initial proposal by the US Federal Reserve and Federal Deposit Insurance Corporation, FDIC, designed to help banks better withstand risks...
Caricom will need to update its tax arrangements to align with the movement towards a minimum global tax on businesses, and Minister of Finance Dr Nigel Clarke is pushing for the bloc to tackle the issue proactively. It’s a better approach than...
Mayberry Investments Limited, MIL, announced the completion of a second real estate development this week, an outsourcing office complex. It’s “in the process of tenanting it up and looking to sell it”, said CEO Gary Peart. From a profit...
The National Housing Trust, NHT, expects to onboard more partners, including credit unions, merchant banks and building societies, under the newly revised External Financing Mortgage Programme by August, when the long-standing Joint Financing...
Supreme Ventures Limited, SVL, has acquired 15 per cent of Dolla Financial Services, an investment that has already climbed in value to more than $1 billion. SVL is a lottery and gaming company but it’s also invested in the microfinancing sector...
State agencies Jampro and the Jamaica Social Investment Fund, JSIF, are partnering on a project aimed at tripling the quantity of yams Jamaica sells on the international market. Currently, Jamaica earns some US$36 million, or $5.6 billion in local...
America’s central bank, the Federal Reserve, raised its key interest rate Wednesday for the 11th time in 17 months, a streak of hikes that are intended to curb inflation. The move lifted the Fed’s benchmark short-term rate from roughly 5.1 per...
Jamaican Teas Limited, producer of Caribbean Dreams and Tetley teas, is acquiring a property at Temple Hall in the hills of St Andrew to execute its long-held plan to add new production capacity for the growing business. The tea maker, which also...
The European Union will look at helping to fund the costly transportation of grain out of Ukraine after Russia halted a deal that allowed Black Sea exports vital to global food security, a top agriculture official said Tuesday. The thorny issue of...
Despite taking on a huge chunk of an expensive electric vehicle recall, General Motors posted US$2.54 billion in second-quarter net income, a 52 per cent increase over a year ago. Continued strong vehicle sales and pricing, as well as cost cuts,...
PriceSmart Inc, operator of a membership shopping retail chain across the Americas, reported a dip in sales at sales at its flagship store in Kingston, due to a migration of customers to its newest outlet in Portmore. Overall, the chain reported...
American lawmakers, intent on reducing China’s influence on the United States economy, are pushing the Treasury Department to help curb the outsized role of Beijing at the Inter-American Development Bank, which supports economic and social...
Global growth will see a slight improvement, compared to previous International Monetary Fund projections, but “many challenges still cloud the horizon, and it is too early to celebrate”, the organisation’s chief economist said on Tuesday. IMF...
Businesses expect inflation to hit 8.2 per cent by the end of this year, amid fears of rising utility costs and fluctuating interest rates, according to a new Bank of Jamaica survey. The expectation exceeds the central bank’s target range of...
The board of the Jamaica Agricultural Society, JAS, is in discussions with the Ministry of Agriculture on the possibility of reconstituting itself as a charitable organisation after its divestment by the state. JAS currently operates as an agency...
The court has rescinded the decision of the trustee to bar a representative of Sygnus Credit Investments Limited from overseeing the bankruptcy proceedings for Mystic Mountain Limited, MML, saying she had overstepped her authority. Gordon had...
