The European Union’s top official on Wednesday called on the 27-nation bloc to ban oil imports from Russia and target the country’s biggest bank and major broadcasters in a sixth package of sanctions over the war in Ukraine. European Commission...
Prime Minister Dr Ralph Gonsalves says St Vincent and the Grenadines has obtained permission from Venezuela to “borrow back” US$9 million that Kingstown paid on loans owed to Alba Bank. The money had been held in an escrow account at the Eastern...
Russia appeared to dodge default on its foreign debt by dipping into its scarce dollar reserves. But Moscow’s debt drama is far from over. Russia’s finance ministry abandoned its proposal to use roubles instead of dollars to make overdue payments...
Continuing its push to dramatically boost sales of electric vehicles, the Biden administration on Monday announced US$3.1 billion in funding to US companies that make and recycle lithium-ion batteries. The investments from last year’s US$1 trillion...
Biogen will replace its CEO and largely abandon marketing of its controversial Alzheimer’s drug Aduhelm less than a year after the medication’s launch triggered a backlash from experts, doctors and insurers. CEO Michel Vounatsos will continue to...
A plan to create special self-governing zones for foreign investors in Honduras has been thrown into limbo with the new government’s repeal of a law many criticised as surrendering sovereignty. The zones were inspired by libertarian and free-market...
In mid-2007, while serving as ministers in Chile’s government, we received the kind of telephone call that every German politician and businessperson now dreads. We were told that natural-gas imports from neighbouring Argentina, Chile’s only...
Pacific Airport Group, GAP, which controls two international airports in Jamaica, is awaiting word from its regulator on the adjustment to the timeline for heavy capital upgrades that it wants to push back to the start of next year. GAP operates...
Barita Investments continues to expand its holding of prime real estate with another multimillion-dollar land acquisition by its affiliated company MJR Real Estate Holdings Limited. In March, MJR acquired the property at number two Argyle Road on...
The Jamaica Stock Exchange, JSE, and Ghana Stock Exchange, GSE, signed an agreement Monday to encourage cross-listings on their two markets. Expect some listing activity in the next 12 to 18 months, said JSE Group Managing Director Marlene Street...
Caribbean Cement Company Limited, CCC, the maker of Carib Cement, reported flat profit for its the March quarter, but is bullish on business in the periods ahead, pointing to a vibrant residential real estate market in particular. “CCC remains...
Ainsworth and Addia Brown’s journey to towards for agriculture and agro-processing all started with the neighbour’s unleashed dog. The five weeks they spent feeding and caring for 2,000 chickens that they intended to sell to one of the island’s...
The National Housing Trust, NHT, plans to sell its former office building on Martin Street, St Catherine, the latest in a line of commercial real estate it has placed on the market. The housing agency wants to court businesses to operate a “...
Spirit Airlines said Monday that it still supports Frontier Airlines’ US$2.9 billion takeover bid for the airline, saying it was more likely to win regulatory approval than JetBlue’s competing US$3.6 billion offer. Spirit said antitrust regulators...
Exxon Mobil reported US$5.48 billion in profits during the first quarter as oil and gas prices rose steadily, more than doubling its profits compared with the same quarter last year. But the oil giant took a huge hit as it abandoned its Russian...
A lawyer versed on the Data Protection Act is telling business owners to move swiftly on their development of policies and procedures that would bring their organisations in compliance with new data protection laws. Jamaica’s Data Protection Act,...
Earlier this month at a conference on Caribbean security, Prime Minister of Barbados Mia Motley spoke about the consequences of the war in Ukraine and the now unavoidable impact it will have on the cost of food, energy, fertiliser and transport....
Almost all corporate plans cover the next five years. However, many companies go not a single month further. In other words, they survive on one five-year plan after another. If you have ever questioned the wisdom of this practice, keep reading....
Jeffrey Hall takes over as chairman of Blue Power Group, effective today, May 1, succeeding founding Chairman Dr Dhiru Tanna, who retired on Saturday. It’s his fourth chairmanship of a listed company, the others being Lumber Depot Limited, the...
Crystal, at twenty-something, is unabashed about her lifestyle. She is one of thousands of Jamaicans who depend on remittances from overseas for living expenses. But Crystal, whose real name is masked to protect her privacy, does not totally fit...
Interest rate movements can be beneficial and harmful to the public at the same time, depending on whether money is being borrowed, saved or invested. Higher interest rates are good for savers, investors in new fixed-rate bonds and investors in...
I have never posted a comment on Twitter. This is even though I have had an account for many years. Despite this, I visit the platform daily, reading messages posted by others. The situation may change, depending on Mr Elon Musk’s actions. News...
Bauxite-alumina producer JISCO Alpart is looking to mine more ore for the company’s plant, which is expanding at a cost of US$1.1 billion. It will be digging through 700 acres in an area referred to as as the ‘Outer Valley’ that would require the...
Bank of Jamaica, BOJ, which coordinates the national payments system in Jamaica and chairs the statutory body, the National Payments System Council, NPSC, says the transition to a new messaging system for financial institutions is inevitable, and...
