America’s largest banks are expected to report big profits for the first quarter amid renewed confidence that pandemic-battered consumers and businesses can repay their debts and start borrowing again. The brighter outlook allows banks to move...
While Jamaica’s financial system received a passing grade from the most recent report that gave it a health check, two banks and a securities dealer were said to have breached their minimum regulatory markers when hypothetical but possible adverse...
Food and logistics conglomerate Jamaica Producers Group Limited acquired 50 per cent shareholding in Geest Shipping, a service that connects the United Kingdom to the Eastern Caribbean valued at £17 million in net assets. The remaining 50 per cent...
Russia has been trying to get its coronavirus vaccine Sputnik V into Brazilian arms for months, and been repeatedly frustrated by legal, regulatory and possibly even diplomatic obstacles. That began to change as the South American nation played...
Future Energy Source Company Limited, operators of the Fesco gas station brand, is weighing the addition of charging stations for electric vehicles to its national network, a project that would be executed over three to five years. The petroleum...
• Real estate company Keller Williams has pumped $20 million into upgraded offices nationwide, tripling space at its Kingston headquarters to over 1,500 square feet in order to facilitate physical distancing, it said in a release, as well as a...
Having shifted more aggressively into asset management through the acquisition of a property fund two years ago, Jamaican investment company Eppley Limited has ridden the COVID downturn to bigger profits. Asset management fees jumped 87 per cent...
Microsoft, on an accelerated growth push, is buying speech recognition company Nuance in a deal worth about US$16 billion. The acquisition will get Microsoft deeper into hospitals and the health care industry through Nuance’s widely used medical...
The Jamaica Stock Exchange (JSE) Combined Index closed Monday on a losing note, declining marginally. The slow trading ended with an advance/decline ratio of 21/47. The JSE Combined Index declined by 2,081.52 points or 0.53 per cent to close at...
Medicinal hemp producer Virtudes and Jamaican luxury skincare company Morgan’s Creek inked a partnership agreement that sees Virtudes becoming the main supplier of distilled cannabidiol, CBD, to the beauty brand. Morgan’s Creek recently moved into...
The Bank of Jamaica, BOJ, has again raised concerns about the LUMI, a largely concept currency issued by the African Kingdom that circulates in both physical and digital format. “Specifically, the ‘AKL LUMI’, which is purported to be currency and...
The United States Federal Reserve officials were encouraged last month by evidence the US economy was picking up, but they showed no sign of moving closer to ending their bond purchases or lifting their benchmark short-term interest rate from...
Finance officials of the world’s major economies on Wednesday agreed on a proposal to boost the resources of the International Monetary Fund by US$650 billion as a way to provide more support to vulnerable countries struggling to deal with a global...
If you don’t have potato, use malanga root. If you can’t find zucchini, replace it with cucumber. Can’t find the ingredients you want? No problem: Yuliet Colón will help you whip up a dessert using the eggs you ran across, swap pork for the ground...
An interim receiver has been appointed by the courts over some Venezuelan assets in Jamaica at the request of ConocoPhillips as part of a long-running, multi-jurisdictional bid by the American oil giant to get compensation for the expropriation of...
With the United States beset by the COVID-19 pandemic, a deep economic recession, and heightened racial tensions, many observers predicted – some in hope, others resignedly – that the 2020 elections would bring about a significant change in the...
This column failed spectacularly when it omitted to discuss in the years preceding 2020 the possibility of a global pandemic. Ample evidence existed then to suggest that such an event was likely. The fact that many other persons and institutions,...
Cruise giant Carnival Corp said on Wednesday that it lost US$2 billion in the first quarter as its corner of the travel industry was still trying to overcome the lockdowns under the pandemic. Carnival said, however, that bookings have begun to pick...
TransJamaican Highway Limited spun to a loss after a near 15 per cent plunge in both revenue and traffic volumes at year ending December 2020, as the pandemic and the lockdowns in response to it took a toll on commute. Vehicular traffic on the East...
Recognising that one of the greatest risks to the planned roll-out of the central bank digital currency, CBDC, is lack of interest and therefore, slow or no take-up by the public, the Bank of Jamaica, BOJ, is seeking to give assurances that the...
QUESTION: I was in a precarious situation, an external collector was called and everything was paid, but it’s on my permanent record. I am making money now and I’m okay with bus inesses. Whom do I need to pay to get rid of the bad credit and have...
Kingston Properties Limited, or KPREIT, has completed the acquisition of a property on 7 Dumfries Road in New Kingston, the price of which was not disclosed. The half-acre property houses music and sound equipment suppliers Audiophon and is a short...
With a cassava farm fully planted and supply contracts in hand from small farmers, seafood processor Rainforest is looking to export bammies, a food item that is most often paired with fish. It’s just one of the non-seafood products that the...
Target will spend a total of more than US$2 billion at black-owned businesses by 2025 as part of its effort to advance racial equity. That’s a significant increase in overall spending on black-owned businesses, according to Target, though it...
An electric version of the Chevrolet Silverado pickup truck will get an estimated 400 miles of range per charge, General Motors says. The company announced the range in a webcast on Tuesday and said the truck would be built at a factory straddling...
