Guyana’s Environmental Protection Agency says it can now use satellites to monitor any oil spills in the South American nation’s waters. The agency’s former leader criticised the technology as ineffective, saying the only proper way of minimising...
Finance Minister Nigel Clarke is vowing to fund whatever it takes to get to the bottom of the ongoing fraud investigations at Stocks and Securities Limited, SSL, that will involve local and Jamaican experts. Speaking with the Financial Gleaner...
Palace Amusement shareholders gave the nod to a 600-for-1 stock split that’s meant to drive trading activity in the tightly held shares amid the company’s return to pre-pandemic levels of movie attendance. The split will take effect on February 28...
Noting that its bottle supplies were back to normal levels, Red Stripe Jamaica has suspended its bottle returns programme, effective January 16. “It was not working,” said a source who operates a medium-sized liquor store in Kingston, explaining...
Dodridge Miller, who has headed Sagicor Financial Company for over two decades, is retiring at the end of March and will be succeeded by the regional insurance group’s finance chief. Miller will remain on the company’s board, while Andre Mousseau...
Sagicor Financial Company Ltd (SFC) today announced that Dodridge Miller will retire as President and Chief Executive Officer effective March 2023. The company says Miller will step down from his current executive duties after more than 30...
The Government will not bail out any failed financial institution, Prime Minister Andrew Holness said as the annual Jamaica Stock Exchange capital markets conference got under way Tuesday night. “The Government will not socialise any debt and we...
Motorists will pay $4.50 more for gas and diesel when they go to the pumps on Thursday. The state-owned oil refinery, Petrojam, says E-10 87 will sell for $167.91 per litre and a litre of E-10 90 will sell for $171.89. Automotive diesel...
Business leaders are reacting positively to the reforms for the financial sector announced on Monday by Finance Minister Nigel Clarke, which include a different regulatory structure and new reporting requirements for securities dealers. Clarke has...
Sooner or later, either Wall Street or the United States Federal Reserve has to blink. Nearly a year into the Fed’s drive to quash inflation by hiking interest rates at a blistering pace, investors still don’t seem to fully believe what the Fed...
One of the characteristics of family-owned businesses, FOBs, is their tendency to be internally focused, especially with respect to giving preference to family members in key areas of the business. This is usually defended on the grounds that “...
In one of the most far-reaching announcements on Monday by Finance Minister Nigel Clarke, the Bank of Jamaica is to take over the regulation of investment companies and others from the Financial Services Commission, alongside plans to downsize the...
Portland JSX Limited, an investor in regional companies, pumped US$1.7 million of loan funds into online grocer Merqueo ahead of its initial public offering to the US Nasdaq exchange. The Colombia-based company is headed towards the IPO later this...
The funds under management by Jamaican investment companies declined by $55 billion within a year, amid falling asset prices and inflation that has eroded real returns for investors. Additionally, securities dealers have seen a decline in their...
The United States government’s road-safety agency has closed a more than six-year investigation into exhaust odours in Ford Explorer passenger cabins, determining that the SUVs don’t have high levels of carbon monoxide and don’t need to be recalled...
The Caribbean Development Bank, CDB, will be backing a study on regional airlift amid early moves to find a solution to the long-standing dearth of transportation that has been hobbled by limitations on free movement within Caricom and exacerbated...
Climate change has come to represent a major challenge for central banks. How much should their monetary policy and approach to banking supervision be influenced by it? On one hand, there is growing evidence that global warming, particularly...
While the Jamaican Government grapples with controlling crime using, among other measures, states of public emergencies, we are faced with another state of emergency which is financial by nature. It has hit us at both the micro and macro levels,...
You are about to begin a fresh round of strategic planning. The team is eager, but before the retreat starts, you have a tricky decision. What length of time should your organisation create a plan for? Some already have strong opinions. The head of...
With over US$170 million in funded deals on its book, Sygnus Credit Investment Limited is looking to nearly double the portfolio to US$300 million over the next three years. The private provider of credit financing solutions is already running well...
Power provider Jamaica Public Service Company Limited, JPS, wants to increase by sixfold this year, the number of customers who prepay for electricity, otherwise called pay-as-you-go. It’s a bit of a conundrum, why after eight years since the...
The Edmund Bartlett-led Ministry of Tourism seems to be on the ball. The ministry’s leadership appears to be well-informed and forward-looking and takes appropriate action on a timely basis. An example: 10 days after 2022 ended, Mr Bartlett gave...
Renewable energy firm Soleco Energy Limited, led by CEO and founder Angella Rainford, has teamed up with global energy company TotalEnergies to bid on regional projects. The first was a joint bid on a renewable project in the Cayman Islands. The...
Caribbean countries averaged growth of 10.3 per cent last year, compared to 4.5 per cent in 2021, the Caribbean Development Bank reported on Wednesday. Its forecast for this year is growth of 5.7 per cent. CDB Vice-President of Operations Isaac...
In what amounts to a nudge, the central bank is pointing out to the Jamaican Government that it can get better interest on the money it holds at commercial banks, which one official data set estimates would hit $84 billion by March. The upshot is...
