The free fall for corporate profits because of the pandemic is over, at least for now. The last few companies are letting their investors know how much profit they made during the last three months of 2020, and if the trend holds, they’ll likely...
Members of oil cartel OPEC and allied countries have agreed to leave most of their existing oil production cuts in place as the spread of new coronavirus variants prolongs concerns about economic weakness. The Organization of Petroleum Exporting...
With its acquisition strategy beginning to pay off, gaming and lottery company Supreme Ventures Limited appears to weathered the storm created by the ongoing COVID-19 pandemic, but is facing other headwinds as two new lottery rivals ramp up...
Trinidadian John deSilva has been hired to run Lasco Distributors Limited, closing the vacancy for managing director that had been open for nearly two years. DeSilva, who took office on March 1, eases deputy executive chairman James Rawle of his...
In a recent letter to her G20 colleagues, US Secretary of the Treasury Janet Yellen argued that a truly global COVID-19 vaccination programme “is the strongest stimulus we can provide to the global economy”. With rich countries vaccinating their...
It has been almost four decades since the United States experienced high inflation. Sociologists would consider it to be almost two generations ago, and an experience that is fading from the collective memory. While inflation is alive and well...
Kingston Properties Limited will be buying back up to half of a per cent of the company’s shares over the next two years, which would amount to more than three million units, but potentially more if its new share offer is executed as planned. It...
By mid-year, the real estate arm of Proven Investments Limited will have five developments under construction, with an additional three to come, despite the soft economy. It’s banking on the resilience of real estate amid economic downturns, plus...
Google says it won’t develop new ways to follow individual users across the internet after it phases out existing ad-tracking technology from Chrome browsers, in a change that threatens to shake up the online advertising industry. The digital giant...
There have been ample indications of the formidable challenges to the heavily tourism and hospitality skewed investment holdings of Sagicor Real Estate X Fund Limited under the pandemic. But its newly released financials showing a $9.99-billion...
The United States economy’s K-shaped recovery is under way. Those with stable full-time jobs, benefits, and a financial cushion are faring well as stock markets climb to new highs. Those who are unemployed or partially employed in low-value-added...
Caribbean Cement Company Limited hit a new milestone in revenues that grew by double digits to top $20 billion for the first time, leading to record profit at the Rockfort, Kingston-based plant. But the maker of the Carib Cement brand, whose sales...
Outstanding banks loans hit a new record of $1 trillion at the end of last year, but unserviced loans grew by more than 40 per cent, which signalled one of the most difficult years on record for the payment of bills and debt, according to data...
United States President Joe Biden’s choice to head the US Securities and Exchange Commission, SEC, told Congress on Tuesday that the agency should address how to protect investors who use online stock-trading platforms with flashy tech gimmicks...
Target will plough US$4 billion into its business this year to redo its stores and add new ones as well as speed up its delivery network, as the discounter aims to keep up with increasing demands of its shoppers shaped by the pandemic. The...
Barita Investments plans to keep its position in distribution company Derrimon Trading Limited, DTL, at or near the current level of 20 per cent. “We have no intention to increase our shareholding to a level that triggers a disclosure requirement...
The Ministry of Agriculture and Fisheries is rolling out a pilot project to produce turmeric, with the help of the Food and Agriculture Organization, FAO, an agency of the United Nations. The $300-million joint assistance initiative is meant to...
The cargo division of Caribbean Airlines Limited and state agency exporTT have formed an alliance to better connect businesses to regional and international markets. Their pact covers information sharing, incentives and joint export promotions,...
Business lobby group Jamaica Chamber of Commerce, JCC, is urging the government to follow through on a desire expressed by Minister of Finance Nigel Clarke to engage stakeholders in discussions about the bases, merits and experience of urban...
Billionaire Warren Buffett encouraged investors to maintain their faith in America’s economy and the businesses his Berkshire Hathaway conglomerate owns in a reassuring letter to his shareholders on Saturday. Buffett hardly even addressed the...
The new head of the World Trade Organization, WTO, called on Monday for a “technology transfer” when it comes to COVID-19 vaccines and urged member nations to reach a deal to reduce overfishing after years of fruitless talks as she laid out her...
The Jamaica Stock Exchange (JSE) combined index advanced on Monday with an advance/decline ratio of 43/33. The JSE Combined Index advanced by 3,310.45 points or 0.84 per cent to close at 397,695.23. The JSE Main Market Index advanced by 3,840.76...
Optimism for an economic revival is surging following a year of coronavirus-induced misery. But expectations for stronger growth – plus the higher inflation that could accompany it – are pushing interest rates higher, which is forcing investors to...
Jolted by the pandemic, insurance brokerage Caribbean Assurance Brokers Limited, CAB, has pumped funds into new software and is building out an online platform that it intends to position as its primary conduit for doing business. The transition...
