The global financial and economic outlook for the year ahead has soured rapidly in recent months, with policymakers, investors, and households now asking how much they should revise their expectations, and for how long. That depends on the answers...
The Bank of Jamaica, BOJ, shrugged off continuing entreaties from the business community this week and opted instead to stay the course with a seventh interest rate hike, despite signs of cooling of consumer prices. Experts said the full impact of...
Environmental regulator National Environment and Planning Agency, NEPA, has responded to an ultimatum from a Montego Bay Freeport residents’ association, making it clear that the state agency will not require the developer of the planned 11-storey...
Europe is preparing to lead the world in regulating the freewheeling cryptocurrency industry at a time when prices have plunged, wiping out fortunes, fuelling scepticism, and sparking calls for tighter scrutiny. The European Union took a first...
The prospect of a takeover of Spirit Airlines threatens to upend the cheap-fare end of the industry, much like a series of mergers among big airlines reduced choices for travellers. Spirit is the largest budget airline in the United States, but its...
Germany’s vice-chancellor said on Thursday he suspects that Russia may not resume natural gas deliveries to Europe through the Nord Stream 1 pipeline after planned maintenance work in July, complicating the outlook for this winter. Russia reduced...
Flow Jamaica has decommissioned the service of Dekal Wireless, a network that was acquired by the company in 2014 to deepen its reach into rural Jamaica. The decommissioning, which took effect on Thursday, June 30, comes amid an ongoing expansion...
The OPEC oil cartel and allied producing nations decided on Thursday to boost production of crude by an amount that will likely do little to relieve high gasolene prices at the pump and energy-fuelled inflation plaguing the global economy. The...
On May 11, the Bank of Jamaica, BOJ, announced that a phased roll-out of Jam-Dex, Jamaica’s central bank digital currency, or CBDC, is currently under way. The Caribbean has been leading the effort to adopt CBDCs. The Bahamian Sand Dollar was the...
Newbie company Gastronomic Concepts is pumping $36 million into the buildout of a lounge branded as Republic, just a year after launching Japanese restaurant brand, Oceano. The company, which was formed in the midst of the COVID-19 pandemic, has...
Cybin Inc, a magic mushroom company, has announced it will cease its lab trial investments in Jamaica. It is the first exit by a well capitalised mushroom company, but follows the trend of other Canadian investors in the cannabis space since the...
United States Federal Reserve Chair Jerome Powell said there’s “no guarantee’’ the central bank can tame runaway inflation without hurting the job market. Speaking Wednesday at a European Central Bank forum in Sintra, Portugal, Powell repeated his...
The Jamaica Stock Exchange (JSE) Combined Index advanced on Wednesday with an advance/decline ratio of 48/41. The index moved up by 1,477.39 points or 0.37 per cent to close at 396,901.64 points. The JSE Main Market Index advanced by 1,324.62...
Russia appears to have defaulted on its foreign debt for the first time since the 1917 Bolshevik Revolution, and the United States and its allies are taking aim at the former Soviet Union’s second largest export industry after energy – gold. On...
Proven REIT Limited and Infinity Capital Partners are developing a business complex in the Cayman Islands at a cost of US$3.2 million. It’s Proven’s first commercial project in Cayman from which the company is projecting a “18 per cent return on...
The contribution of former vice chancellor of the University of the West Indies, Sir Alister McIntyre, to Caribbean trade scholarship and policy development is being described as having been central to the region finding its own voice and home-...
“The left and the right united shall never be defeated,” claimed the Chilean poet Nicanor Parra – and the current debate over deglobalisation illustrates the point. So-called progressives never liked fast growth in world trade and now greet any...
Ice cream maker Caribbean Cream Limited, which trades as Kremi, for the first time slipped into the red for its financial year ended February 2022, recording net losses of $9.2 million. The company, which at the onset of the pandemic found itself...
Leaders of the world’s biggest developed economies said on Tuesday they would explore far-reaching steps to cap Russia’s income from oil sales that are financing its invasion of Ukraine, and struck a united stance to support Kyiv for “as long as it...
Airbnb is making permanent its ban on parties at homes listed on the site for short-term rentals. The San Francisco company believes the ban has worked, saying Tuesday that reports of parties at listed properties have dropped 44 per cent from a...
Microfinancing company Access Financial Services Limited increased its loan portfolio by double-digit levels towards record amounts in the year ending March, reflecting a return to normality. Its net loans grew 10 per cent to $4.51 billion, saying...
Ocho Rios in Jamaica topped the list of global honeymoon destinations during the pandemic, but weddings and honeymoons are still down by half, according to large online travel platform Kayak and official government data. The size of the market is...
Every few generations, Hong Kong transforms itself, evolving from a swampy fishing village to 19th century colonial port, to capitalist outpost and factory after China’s 1949 revolution, to 21st century financial centre. As the former British...
Senior United States government officials have quietly travelled to Caracas in the latest bid to bring home detained Americans and rebuild relations with the South American oil giant as the war in Ukraine drags on, forcing the US to recalibrate...
