Investors would need to pump the equivalent of about $185 billion into clean energy over seven years to achieve the revised target of 50 per cent renewables by the year 2030. The previous target was 30 per cent within the same timeline. But the...
It is easy to deceive yourself into believing that you are better off because the value of your assets has increased over a given period. Such an increase can be meaningless, though, if what you can buy at the end of the period is not at least...
I drove four different motor vehicles during the last two weeks. Two were German: an Audi sedan and a BMW X3 SUV. The others were Japanese: a Nissan X-Trail SUV and a Subaru Impreza. Their ages ranged from two to 20 years. No. I was not test-...
Concerns over the “explosion” of informal activities at the White River attraction just outside Ocho Rios, St Ann, has prompted tourism officials to conduct a maximum capacity study aimed at reducing the load on the river. “For some time now, there...
Embattled investment firm, Stocks and Securities Limited (SSL) can no longer trade in securities listed on the Jamaica Stock Exchange, JSE. The Exchange, is advising that effective immediately it has terminated its member dealers agreement with SSL...
FTX founder Sam Bankman-Fried faced new fraud charges Thursday as prosecutors accused him of cheating thousands of investors out of billions of dollars while casting himself as a trustworthy ”saviour of the cryptocurrency industry" — an image...
People have been trying to dodge paying taxes since time immemorial, but globalisation has turned tax avoidance and evasion, as well as money laundering, into a lucrative business model. Over the past few decades, offshore tax havens such as the...
Speciality food distributor Caribbean Producers Jamaica Limited, CPJ, is actively hunting new locations in a bid to diversify income streams, according to Executive Chairman Mark Hart. The company, which transitioned from the junior market to the...
Proven Properties, the real estate arm of Proven Group Limited, will execute four developments this year costing US$140 million, at least two of which are joint venture partnerships. It reflects the continued push towards a larger real estate...
Jamaica’s number two banking group is carving out new space in the competitive general insurance market through the formation of Scotia General Insurance Agency, SGIA, which will operate under the brand name ScotiaProtect. The agency, headed by...
Premier and Finance Minister David Burt, fresh from delivering Bermuda’s annual budget, has admitted that debt levels are an “absolute concern” after a business leader, laying out the stark reality of economic crises facing Bermuda, said government...
MoneyMasters Limited, MML, is getting ready to close on 14 live projects, slated for completion in another six months. The company is financing these projects to the tune of $1.9 billion. MML President Claudette Crooks says there are another 10...
The Bank of Jamaica, BOJ, expects lending rates to rise as a result of the increase in its cash reserve requirements, but has indicated that any further moves to adjust the ratio will be based on market conditions. This as the BOJ Monetary Policy...
Published:Wednesday | February 22, 2023 | 12:35 AM
The size of the Jamaican economy should return to pre-pandemic levels, a year ahead of expectations, the Planning Institute of Jamaica, PIOJ, predicted on Tuesday. It signals a recovery from one of the worst recorded shocks in Jamaica’s history. “...
Published:Wednesday | February 22, 2023 | 12:27 AM
The government agency responsible for tracking down contaminated peanut butter and defective pacemakers is taking on a new health hazard: online misinformation. It’s an unlikely role for the United States’ Food and Drug Administration, FDA, a...
Published:Wednesday | February 22, 2023 | 12:26 AM
The International Monetary Fund on Tuesday announced that it had approved Caribbean Development Bank, CDB, to become prescribed holders of special drawings rights, or SDRs, an international reserve asset created by the fund. The CDB, based in...
Published:Wednesday | February 22, 2023 | 12:16 AM
Over the past two decades, Indian multi-billionaire Gautam Adani’s close ties to Prime Minister Narendra Modi have helped the Gujarati businessman become Asia’s wealthiest person. Adani’s meteoric rise, which in some ways eclipsed that of his...
Published:Wednesday | February 22, 2023 | 12:07 AM
Medical diagnostics firms trading on the stock exchange made higher revenue in the final quarter of 2022, but newly listed Apex Radiology inked a profit while Elite Diagnostics recorded losses. The outlook, however, remains positive for both firms...
Published:Wednesday | February 22, 2023 | 12:05 AM
Electric car giant Tesla will, for the first time, make some of its charging stations available to all US electric vehicles by the end of next year, under a new plan announced by the White House. The plan will make at least 7,500 chargers from...
Islamic State gunmen killed American college student Nohemi Gonzalez as she sat with friends in a Paris bistro in 2015, one of several attacks on a Friday night in the French capital that left 130 people dead. Her family’s lawsuit claiming that...
Tax Administration Jamaica is advising that several forms have been revised during this filing period in keeping with feedback from stakeholders and international best practices. Additionally, the revised Income Tax Returns captures more...
The Bank of Jamaica held its policy interest rate steady for a second time at 7.0 per cent in its new decision released on Monday. But the central bank is also tightening up on money supply, citing elevated risk from the drivers of inflation,...
Individual investment dealers and investment advisers and corporate investment dealers and investment advisers in the securities industry, their directors, and senior managers must meet fit-and-proper requirements to be able to operate in Jamaica...
Kingston Freeport Terminal Limited, KFTL, will start dredging to deepen the seafloor at the port of Kingston, ahead of big projects slated for this year. “We have significant projects planned for 2023,” said Kingston Freeport, manager of the...
Manufacturing and distribution company Wisynco Group Limited is projecting at least a 30 per cent increase in production capacity at its St Catherine plant once its current capex programme is finalised. The company, which operates from St Catherine...
