Published:Wednesday | December 22, 2021 | 12:09 AM
In any other year but this one, economic growth in Latin America would give the region’s governments reason to boast. The United Nations Economic Commission for Latin America and the Caribbean, ECLAC, estimates that GDP growth in 2021 will be...
Published:Wednesday | December 22, 2021 | 12:09 AM
The Inter-American Development Bank, IDB, said Monday it expects to close this year with US$19.5 billion in new financing for Latin America and the Caribbean, the second highest in its history. The funds provided by IDB and its private sector arm...
Published:Wednesday | December 22, 2021 | 12:09 AM
Haiti will benefit from a fifth and final round of debt relief for low-income countries by the International Monetary Fund, IMF, the only Caricom member on the list. The IMF executive board approved the relief on debt service for the 25 member...
Published:Wednesday | December 22, 2021 | 12:07 AM
Emarilis Velazquez is paying higher prices on everything from food to clothing. Her monthly grocery bill has ballooned from US$650 to almost US$850 in recent months. To save money, she looks for less expensive cuts of meat and has switched to a...
Published:Wednesday | December 22, 2021 | 12:07 AM
The United Kingdom announced £1 billion (US$1.3 billion) in grants and loans to help the hospitality industry survive the onslaught of the omicron variant of COVID-19, bowing to days of pressure from pubs, restaurants and other businesses that have...
Published:Wednesday | December 22, 2021 | 12:06 AM
Turkey’s currency made significant gains Tuesday after President Recep Tayyip Erdogan announced extraordinary measures that aim to safeguard deposits in the lira against volatility seen in recent weeks and boost confidence among Turks as they have...
Published:Wednesday | December 22, 2021 | 12:06 AM
Electric and hydrogen-powered truck start-up Nikola has agreed to a US$125-million settlement over charges that it defrauded investors after misleading them about its products, technical advances, and financial prospects. Nikola Corp violated the...
Published:Wednesday | December 22, 2021 | 12:06 AM
A bill that would give tax relief to Atlantic City’s casinos – and possibly prevent the closure of as many as four of them – is now in the hands of New Jersey’s governor. The state legislature passed a bill shortly before midnight on Monday, making...
The Jamaica Stock Exchange (JSE) Combined Index declined on Tuesday with an advance/decline ratio of 94/45. The JSE Combined Index moved down by 1,084.73 points or 0.28 per cent to close at 391,568.65. The JSE Main Market Index declined by 1,...
The United Kingdom Supreme Court ruled on Monday that Venezuelan opposition leader Juan Guaidó should be recognised as the nation’s interim president in a case that will ultimately determine who controls almost US$2 billion of gold held by the Bank...
The Bank of Jamaica on Monday increased its key interest rate by 50 basis points to 2.5 per cent, in continued defense of its inflation target. Annual inflation fell in November to 7.8 per cent, down from 8.5 per cent in October, but the rate is...
Surging prices are haunting consumers and confounding economic planners in the United States and other countries, but not in Japan, where sparking inflation has proven an elusive goal. While the Federal Reserve and most other central banks are...
As the global COVID-19 pandemic approaches its third year, many entrepreneurs and small businesses are finding it difficult to plan in an environment of constant change, uncertainty, and crisis. Typically, businesses rely on stability to grow and...
The Government enacted The Dogs (Liability for Attacks) Act in 2020. It imposes a legal duty on dog owners to exercise management and control of their animals. This is to ensure that they do not cause injury in public places. Persons convicted of...
Inflation is the sustained increase in the general level of the prices of goods and services used by consumers or private households. The rate of inflation is the percentage change in the average price level of a fixed set of goods and services –...
Subagents of Alliance Financial Limited, AFL, a group of 68 independent stores that operate windows for MoneyGram remittances, say that their daily revenue has fallen off by half since the December 3 suspension of Alliance’s authorisation to...
Local cannabis company Pure Jamaican Limited has acquired the production and cultivation assets of another cannabis business, Timeless Herbal Care, putting it a step closer to achieving its ambition of becoming the largest supplier of...
The luxury fashion house Chanel has chosen Leena Nair, an industry outsider from India and longtime executive at Unilever, to be its new CEO. Analysts say her hiring signals how the brand is accounting for changing consumer awareness of the...
Bakers are finding fruit wine alternatives this Christmas amid a shortage of the market-leading Red Label Wine, resulting in new business for rivals. “We have experienced a 35 per cent increase in our retail fruit wine sales this season,” said...
Consumers heading to the market this week should find themselves saving a few hundred dollars on the purchase of fruits and vegetables, largely as a result of an increase in the supply of produce across the island. The availability of more goods...
The Jamaica Stock Exchange (JSE) Combined Index closed the week with mild gains on Friday. Stocks advanced on moderate trading, with an advance/decline ratio of 42/34. The JSE Combined Index advanced by 400.96 points or 0.10 per cent to close at...
Specialty Coffee Investments Company Limited, SCICL, which is connected to investor Michael Lee-Chin, is raising funds on the market to refinance $1.9 billion in debt as part of its support for leading subsidiary Mavis Bank Coffee Factory Limited....
Talks are under way for the Inter-American Development Bank, IDB, to become an investor in the University of the West Indies, UWI, the Caribbean regional university celebrating its recently elevated ranking that puts it in the top tier of...
The European Central Bank, ECB, decided on Thursday to avoid an abrupt end to its pandemic crisis support for the economy as the new omicron variant of COVID-19 stirs uncertainty about the recovery, despite inflation hitting record highs and the...
