AMERICAN AIRLINES reported a staggering loss of US$2.24 billion for the first quarter, when the coronavirus pandemic triggered a sharp drop in air travel. The airline’s revenue fell 19 per cent while costs continued to rise, even as the virus...
A CONTROVERSIAL shipping magnate supplying gasolene to his native Venezuela said he will do whatever it takes to prevent worsening fuel shortages from igniting a social explosion that, he warns, could be worse than anything caused by the...
LESS THAN a week after the Argentine government launched its debt-restructuring proposal, the Province of Buenos Aires made its own offer. The two deals are similar, in that they provide three years of grace period, followed by a step-up in coupon...
At one point this month, remittances flowing to Jamaica from the United States had fallen by 20 per cent. But this week, remittance companies had a bit of good news, or, in the context of the coronavirus, they had less bad news – the decline in...
I N THE context of the Bank of Jamaica’s, BOJ’s, move towards being an independent central bank, it has published 33 service-level standards by which it will be assessed and which, it said, emphasises its commitment to accountability and ...
NCB Financial Group grew net profit by half-billion dollars to more than $5 billion for the quarter ending March, but only because it benefited from tax credits of nearly $2.2 billion. Otherwise, its profit would have declined in the quarter....
THE UNITED States economy shrank at a 4.8 per cent annual rate last quarter as the coronavirus pandemic shut down much of the country and began triggering a recession that will end the longest expansion on record. Yet the drop in the January-March...
The Jamaica Stock Exchange (JSE) Combined Index declined by 11,090.35 points or 3.02 per cent, to close at 355,853.37 with an advance / decline ratio of 17 /41. The JSE Index declined by 12,250.06 points or 3.30 per cent, to close at 358,512....
Training institute iCreate Limited has cut its board in half amid a restructuring of the young business as its losses climb, and created the new position of executive chairman to help run the company. The job of executive chairman was given to...
Last Wednesday, Scotia Group Jamaica paid out about $1.7 billion to shareholders; and Sagicor Group Jamaica was expected to follow on May 6 with a distribution of about $1.2 billion. Scotia’s distributions made it through the door just two days...
We are about seven weeks into a complete shift to a new way of life in Jamaica. “Home-school”, “Work-from-home” and “online shopping” are no longer niched activities reserved for special market segments here on the ‘Rock’. They are fast becoming...
AFTER THREE years of trying to woo Cayman Islands with its line of cleaning agents, Pioneer Manufacturing Distribution Company sent off its second shipment of Chloro-Do bleach to that country on Monday, a trading window it said was opened up due,...
The fifth in the JBDC ‘In Concert’ online series continues Thursday with focus on the creative sector. Preregistration through the Jamaica Business Development Corporation website is required. The discussion will focus on ‘Who’s on your Team?’, and...
After much anticipation, the government of Argentina launched its bond restructuring proposal on April 17. The proposal divides the bonds into two general groups: the first consists of the eurobonds that were issued by the Macri administration; and...
President of Venezuela Nicolás Maduro on Monday named a powerful ally sanctioned by the United States as a drug kingpin, along with a cousin of the late socialist leader Hugo Chávez, to revamp Venezuela’s oil industry amid massive gasolene...
Boeing's CEO said Monday that it will take years for the aircraft-building business to return to levels seen before the coronavirus pandemic, which has slowed air travel to a trickle and led airlines to park 2,800 jets. “We are in an unpredictable...
A SURVEY of United States business economists in mid-April found that one-third of their companies had shut down at least some of their operations, and two-thirds had laid off or furloughed workers or cut their pay to try to minimise the impact of...
ADVISORY COLUMN: SMALL BUSINESS QUESTION: I’m in a serious spot because I need to close down my store but have too many roadblocks in the way. I rented a shop last year to expand my clothing business, which I used to do from my home using...
The Federal Reserve, the central bank of the United States, says it will provide monthly reports on several of its economic rescue programmes supported by the US$2 trillion rescue programme passed by the US Congress. The central bank is “committed...
ADVISORY COLUMN: INSURANCE HELPLINE The American science fiction film Close Encounters of the Third Kind was written and directed by Steven Spielberg in 1977. It tells the story of a blue-collar worker whose life changes after an encounter with...
ADVISORY COLUMN: PERSONAL FINANCIAL ADVISER The harsh reality is that unanticipated changes, many of which are beyond our control, do derail the plans of well-organised and focused persons. In order to realise some goals, it may thus become...
Concerns are being raised as to whether the small community of Green Island in Hanover can handle the pressures that a mega resort, as proposed by the Princess Hotel chain, will bring to community services that are already seen as inadequate. The...
Larren Peart, founder and CEO of Bluedot Data Intelligence Limited, has reacquired SSL Venture Capital Limited’s 50 per cent shareholdings in his company. The transaction, which took six weeks to negotiate, comes at a time when COVID-19...
Facebook says it plans to invest US$5.7 billion in India’s telecom giant Reliance Jio. The investment will give Facebook a 9.99% stake in Jio Platforms, the digital technologies and app developing division of Reliance Industries. Reliance Jio has...
