Two large Jamaican companies operating businesses in the United States have given mixed reactions to the looming rail strike planned for early next month that’s expected to sap US$2 billion per day from the American economy if it’s not averted....
The company tasked with locking down the assets of the failed cryptocurrency exchange FTX says it has managed to recover and secure US$740 million in assets so far, a fraction of the potentially billions of dollars likely missing from the company’s...
The economy expanded at nearly twice the pace initially forecast by the Planning Institute of Jamaica, PIOJ, in the July to September quarter, assisted by tourism spending, but was hurt by reduced construction output, based on the agency’s...
The Spanish-American philosopher George Santayana famously warned that “those who cannot remember the past are condemned to repeat it”. But sometimes even those who can recall the past have a selective memory and draw the wrong conclusions. This is...
The United States government announced on Wednesday that it will detain all imports of sugar and related products made in the Dominican Republic by Central Romana Corporation Limited amid allegations that it uses forced labour. A US Customs and...
Having commissioned new warehousing space at its redeveloped complex in Kingston, Seprod Group is reporting that it has given up most of the storage space it leased in the wake of a fire a year ago and is projecting savings of a quarter-billion as...
A company with an office in Houston and another owned by two American citizens appear to be helping Venezuela bypass United States sanctions and quietly transport millions in petroleum products aboard an Iranian-built tanker, the Associated Press...
The Jamaican government is considering another amendment to the Highway 2000 concession agreement amid plans to possibly divest the current portion of the toll road known as Phase IC to TransJamaican Highway Limited, TJH. TransJamaican initially...
Police beat workers protesting over a pay dispute at the biggest factory for Apple’s iPhone, whose new model is delayed by controls imposed as China tries to contain a surge in COVID-19 cases. Foxconn, the biggest contract assembler of smartphones...
The Jamaican economy grew 4.3 per cent in the July to September quarter of 2022, according to the Planning Institute of Jamaica (PIOJ). The PIOJ says the growth comprised of upward movement of 4.7 per cent in the services industry and a 3.2...
Published:Wednesday | November 23, 2022 | 12:14 AM
Jeffrey Hall will retire as the chairman of Scotia Group Jamaica in December, and will be succeeded by bank executive Anya Schnoor. The announcement came a day after the announcement of a planned merger of Jamaica Producers’ operations with PanJam...
Published:Wednesday | November 23, 2022 | 12:13 AM
More than 253,000 coronavirus cases have been found in China in the past three weeks and the daily average is rising, the government said Tuesday, adding to pressure on officials who are trying to reduce economic damage by easing controls that...
Published:Wednesday | November 23, 2022 | 12:13 AM
Commuters will soon start using cards to pay for rides on buses and trains owned by the Jamaican Government as it digitalises the $1.8 billion generated in fares annually. It is aimed at improving efficiency while reducing the likelihood of fare...
Published:Wednesday | November 23, 2022 | 12:11 AM
The United States Congress recently approved the CHIPS and Science Act, which allocates over US$50 billion to strengthen the semiconductor industry in the hope of making the United States self-sufficient. And US Trade Representative Katherine Tai...
Former Prime Minister P.J. Patterson has called on the leaders of African and Caribbean nations to fashion and ink a free trade agreement that would economically link the countries of the continent with those of the Caribbean subregion....
Published:Wednesday | November 23, 2022 | 12:11 AM
Improved performances across most subsidiaries of Derrimon Trading Company Limited pushed group profit up nearly 50 per cent in the third quarter, putting the company on track towards a record year for earnings. Still, Caribbean Flavours...
Published:Wednesday | November 23, 2022 | 12:07 AM
Food and financial conglomerate GraceKennedy Group is set to close “three sizeable deals” during the first quarter of 2023, CEO Don Wehby said on Monday. Two of the prospects are local food companies, the other is a provider of financial services...
With $112 billion of combined assets and other resources at their disposal, the leaders of investment and property conglomerate PanJam Investments Limited and food and logistics conglomerate Jamaica Producers Group Limited are focused on the global...
Published:Wednesday | November 23, 2022 | 12:05 AM
New York issued its first 36 cannabis dispensary licences on Monday, taking a monumental step in establishing a legal – and lucrative – marketplace for recreational marijuana. The licences approved by the state’s Cannabis Control Board were the...
Published:Wednesday | November 23, 2022 | 12:05 AM
Hobbled by high interest rates, punishing inflation and Russia’s war against Ukraine, the world economy is expected to eke out only modest growth this year and to expand even more tepidly in 2023. That was the sobering forecast issued on Tuesday by...
Published:Wednesday | November 23, 2022 | 12:05 AM
American consumers and nearly every industry will be affected if freight trains grind to a halt next month. One of the biggest rail unions rejected its deal on Monday, joining three others that have failed to approve contracts over concerns about...
Published:Wednesday | November 23, 2022 | 12:05 AM
CCRIF SPC, formerly known as the Caribbean Catastrophe Risk Insurance Facility, says it has signed a memorandum of understanding with the African Risk Capacity Limited and the Pacific Catastrophe Risk Insurance Company, PCRIC, to strengthen the...
Published:Wednesday | November 23, 2022 | 12:05 AM
The Dominican Republic says it “profusely rejects” criticism of its crackdown on Haitian migrants from a growing number of countries and human- rights agencies. Dominican authorities have ramped up border enforcement and deportations of Haitians,...
Published:Wednesday | November 23, 2022 | 12:05 AM
GraceKennedy has handpicked a few export products that it sees as having the potential to double sales and is devising a market plan around that goal. It aims. in the first instance, to get GraceKennedy’s Tropical Rhythm, Grace Jerk Seasoning and...
Prominent businessman Jeffrey Hall is to retire as Chairman of the Board of Scotia Group Jamaica Limited (SGJL), effective December 9. Hall will be replaced by executive and current board member Anya Schnoor. Schnoor is currently the Executive Vice...
