The Bank of Jamaica, BOJ, plans to test a digital currency as an alternative to cash later this year. The central bank digital currency, or CBDC, would be additional to banknotes and coins, and backed by the central bank as legal tender. It will...
Even though General Motors, GM, was able to reopen its American factories for the last half of the second quarter, the company still lost US$806 million from April through to June. The Detroit automaker closed its plants on March 18, and they...
The Data Protection Act 2020, the DPA, was recently passed by Jamaica’s Parliament, but is yet to be enacted. Its primary obligations are imposed on data controllers, who the DPA defines as any person or public authority who, either alone or with...
Sygnus backs luxury villa development in Discovery Bay Sygnus Real Estate Finance Limited says it is investing US$4.2 million ($609 million) in a luxury development in Discovery Bay, St Ann, called Ocean’s Edge Country Club. The complex...
A digital transformation programme started by the GraceKennedy conglomerate three years ago has been elevated within the group as a strategic priority. Not only has GK set up a Digital Transformation Steering Committee, chaired by Group CEO Don...
MBJ Airports Limited, the operator of Sangster International Airport in Montego Bay, posted a $900-million operating loss over three months ending June, which reflects an unprecedented decline in revenue. In terms of recovery, management expects...
Pfizer Inc reported a 32 per cent plunge in second-quarter profit, mainly due to the coronavirus pandemic limiting the marketing of new prescriptions for its medicines. Pfizer had predicted in April that the virus would keep both patients and...
A Mexican court held the first hearing Tuesday in what President Andrés Manuel López Obrador said would be a “watershed” corruption case against the former head of the state-owned oil company. López Obrador said that the trial of Emilio Lozoya,...
The Pension Industry Association of Jamaica, PIAJ, says the COVID-19 economic task force’s recommendations about disaggregating the limits placed on debt and equity investments, as well as an increase in the limit for private equity investments for...
A Nevada company that started in 1973 with a single hotel-casino in Reno announced that it has completed a US$17.3-billion buyout of Caesars Entertainment Corp and will take the iconic company’s name going forward as the largest casino owner in the...
Global air travel is recovering more slowly than expected and will take until 2024 to return to pre-pandemic levels, the trade association for the airline industry said Tuesday. The International Air Transport Association, IATA, pushed back its...
Europe’s tourism revival is running into turbulence only weeks after countries reopened their borders, with rising infections in Spain and other nations causing increasing concern among health authorities over people bringing the coronavirus home...
The Fair Trading Commission, FTC, has given the nod to GraceKennedy’s acquisition of an 80 per cent stake in Key Insurance Company, which gives the conglomerate an additional share of the general insurance market in which it is already among the...
ADVISORY COLUMN: PERSONAL FINANCIAL ADVISER QUESTION: I would like to know how to find out if my deceased mother has a will in Jamaica as there is some land that I want to know if I'm entitled to. Can you point me in the right direction? –...
In keeping with demand, medical masks, hand sanitisers and detergents aimed at fighting the spread of the coronavirus, dominate supplies in warehouses operated by Medical Disposables...
Puerto Rico’s governor and other top officials have become the formal targets of an in-depth government investigation into recent corruption allegations. The United States territory’s Special Independent Prosecutor’s Panel agreed to probe the...
Former Governor General Professor Sir Kenneth Hall has been named chancellor of the University of the Commonwealth Caribbean, UCC, on the retirement of the current occupant of the office, President and Executive Chancellor Professor Dennis Gayle....
It’s been 14 years since her firing by United General Insurance Company Limited, UGI, over which the appellate court has now ruled that Marilyn Hamilton is to be compensated a year’s salary for wrongful dismissal. It’s better than the month’s pay...
ADVISORY COLUMN: PRODUCTIVITY What is an easy step to begin your company’s digital transformation? This may sound simplistic: you start by collecting your customers’ contact information. Why is this a powerful place to begin? Think of what it is...
Sagicor Group Jamaica Limited has announced a reorganisation of its wealth subsidiary, Sagicor Investments Jamaica Limited, SIJL, leading to the departure of the current CEO Kevin Donaldson. The position of chief executive and executive vice...
Listed companies not among the sixteen that got special approval from the Supreme Court to include an electronic component in their annual general meetings are weighing options, including amendments to articles of incorporation, to meet their...
Michael Drakulich, principal owner and chief executive of the Mystic Mountain eco-attraction, will make another attempt today at convincing bondholders to delay interest and principal payments on its US$8-million bond for at least a year as the...
Tesla overcame a seven-week pandemic-related shutdown at its California assembly plant to post a surprising US$104 million net profit for the second quarter. It was the electric car and solar panel maker’s fourth-straight profitable quarter,...
