Industrial air-cooling company CAC 2000 Limited will make a final payment of US$45,000 to X-Ray Diagnostics in December, bringing an end to a 17-year legal battle between the two companies. A turn in their ongoing legal strife came on May 28, when...
Caribbean Producers Jamaica, CPJ, breached loan covenant agreements relating to US$7.5 million ($1.1 billion) worth of debt, amid the group suffering the effects of the pandemic, according to company filings. But banks, bondholders and private...
Twenty-six words tucked into a 1996 law overhauling telecommunications have allowed companies like Facebook, Twitter and Google to grow into the giants they are today. Those are the words Donald Trump’s administration has challenged directly via...
More than 400 Western Union offices that Cubans heavily rely on for remittances sent by family abroad are in danger of closing amid a growing number of sanctions the United States government has placed on the island. Cuba’s government said all 407...
Honduras straddles Central America, with most of it on the Caribbean coast and a small sliver on the Pacific. Although it appears to be small, it is actually the second-largest country in Central America. Nicaragua is first, followed by Honduras,...
Mexican President Andrés Manuel López Obrador proposed Tuesday a blanket ban on subcontracting or outsourcing of jobs by private companies, saying the practice has been abused to avoid paying employees’ the benefits they are due by law. The...
Food distributor Everything Fresh Jamaica Limited, EFresh, has gotten the nod from the Central Bank of Bahamas for the acquisition of a 60 per cent stake in a company it took a bet on in early 2019. Details of the transaction were not disclosed,...
The first and only cannabis stock so far to list on the Jamaica Stock Exchange, JSE, has been suspended six months after it entered the market. Canadian company Tree of Knowledge International Corp cross-listed in Jamaica in April under the symbol...
Drugmaker Pfizer saw its third-quarter profit plunge 71 per cent, mainly due to an US$8.1-billion gain a year earlier from selling its consumer health care business to a GlaxoSmithKline joint venture, but managed to top Wall Street expectations....
Drugmaker Merck, bouncing back from a US$1.6-billion hit from the coronavirus pandemic in the second quarter, boosted its third-quarter profit by 55 per cent and blew past Wall Street expectations. The strong result was due to sales slightly higher...
Caribbean Cement Company, supplier to a resilient construction market, made $2.2 billion over three quarters to September, reflecting a one-third growth in earnings amid the pandemic. Not only has Caribbean Cement outperformed its nine-month...
Seeing an opening in the market, Rubis Energy Jamaica is now exporting petrochemicals on a commercial scale to countries in the region. “We believe that the local chemicals and lubricant sectors are positioned for growth, despite the immediate...
Seprod Limited’s offloading of property in Kingston has netted $762 million, but even absent that gain, the company is on track towards a bumper year. Seprod sold the former Industrial Sales complex to the Epply Caribbean Property Value Fund, with...
Scotiabank says it has started discussions with the union representing its employees about potential job losses with the impending closure of its Black River, St Elizabeth and Old Harbour, St Catherine branches next year. In a...
The Jamaica Stock Exchange (JSE's) combined index on Tuesday declined with an advance/decline ratio of 36/45. The JSE Combined Index advanced by 1,562.61 points or 0.42 per cent to close at 373,560.10. The JSE Main Market Index advanced by...
China’s Ant Group will try to raise nearly US$35 billion in a public offering of shares in Shanghai and Hong Kong, which would make it the largest offering in history. Alibaba-affiliated Ant Group, which operates a suite of financial products...
The Jamaica Stock Exchange (JSE) combined index declined on Monday with an advance/decline ratio of 28/41. The JSE Combined Index declined by 903.30 points or 0.24 per cent to close at 371,997.49. The JSE Main Market Index declined by 912.27 points...
OP-ED CONTRIBUTION: DIGITAL ECONOMY Today, as our economic and social lives increasingly move online owing to the COVID-19 pandemic, the digital and physical domains are becoming more integrated than ever. And now more than ever, governance and...
ADVISORY COLUMN: PERSONAL FINANCIAL ADVISER The Bank of Jamaica, BOJ, recently issued another of its US dollar-denominated indexed notes, an interesting financial asset that protects investors against depreciation of the value of the Jamaican...
ADVISORY COLUMN: SMALL BUSINESS In my last column, I asked readers to consider the likely implications of the deepening social and economic fallout from the pandemic, particularly the extent of the country’s social protections and safety net to...
Key Insurance Company, a subsidiary of the GraceKennedy conglomerate, aims to double its revenue to $2.7 billion in five years, arguing that its rights issue will set the stage by providing the capital needed to grow its important motor portfolio....
Huawei’s new smartphone has an upgraded camera, its latest advanced chipset and a better battery. What it may not have outside the Chinese tech giant’s home market is very many buyers. Huawei, which recently became the world’s No. 1 smartphone...
Renewable energy company Wigton Windfarm Limited intends to tap the market for funds to finance an ambitious expansion and diversification programme, but is timing the trigger. The wind farm is operating at near maximum levels in terms of equipment...
Brazil’s health regulator has authorised the import from China of a potential vaccine against the coronavirus, just days after President Jair Bolsonaro insisted he wouldn’t allow doses to be shipped from the Asian nation. The health regulator,...
