Uber is continuing to bleed money even as it posts dramatic revenue growth. In its first financial report since its lacklustre début on Wall Street, Uber said on Thursday that its revenue rose to US$3.1 billion in the first quarter of 2019, up 20...
CHRISTCHURCH, Barbados: World Bank executives say storms in the Caribbean wreak damage of up to 2.0 per cent of output, annually, but they also see signs that large businesses are serious about preparedness. The current hurricane season started...
Why is it that your employees who start out excited about their jobs lose interest so quickly? Is it a problem with their age, a cultural phenomenon, or just fate? Can their experience be enriched by savvy managers? The dilemma begins with most...
It was not to be. A ‘Sargassum Summit’ to develop a multinational response to the worsening problem of the sargassum seaweed washing up on some of the best beaches in the Caribbean has had to be postponed. The conference in Cancun, which has been...
Portland Private Equity has increased its holdings in Chukka Caribbean Adventures Limited, this time through a direct injection of equity under Portland Caribbean Fund II into the tour company founded by the Melville family. Chukka, which offers...
First Rock Capital Holdings Limited has approved US$30 million worth of real estate deals, but is still in the process of wrapping up some of the negotiations. The investments, approved up to the start of May, comes two months behind a fundraising...
QUESTION: I am interested in knowing more about bonds and preferred stocks, like the minimum amount one can use to purchase either of them. Is there a book or a website about local bonds and stocks that I may refer to? Can I purchase...
Is the practice of insurance in Jamaica a legalised scam or racket; or does it contribute to the social good? Social good is a series of action or activities from which benefits accrue to the society as a whole – not mainly to the insurers’ top...
Inspired by the Young Leaders programme of former US President Barack Obama in 2015, Craslyn Benjamin’s four-year-old fresh food business Benlar Foods was also a poster child of sorts for the Branson Entrepreneurial Centre Caribbean, the start-up...
Facing new trade sanctions and a US clampdown on its top telecommunications company, China issued a pointed reminder Wednesday that it has yet to unleash all its weapons in its trade war with the Trump administration. Chinese state media warned...
Pressure from the trade dispute between the United States and China is weighing on the retail sector, with shares of many in the industry falling in pre-market trading on Thursday. Retailers have seen their shares see-saw this week as they express...
The United States economy grew at a solid 3.1 per cent rate in the first three months of the year, but much of that gain was based on temporary factors that will likely fade, leaving growth much slower in the current quarter. The US Commerce...
Food and financial services conglomerate GraceKennedy Limited will be relaunching its La Fe brand in the United States with a roll out of national commercials. La Fe Foods has operations in Moonachie, New Jersey; Miami, Florida; and Raleigh, North...
A US$1-million metal slitting plant is now up and running at Arc Manufacturing Limited, which Executive Chairman Norman Horne says is the only one of its kind in Jamaica. Arc will produce guttering for drainage, roofing tiles, and tracks and studs...
The European Central Bank (ECB) says that challenges to financial stability in the Eurozone have risen amid global trade tensions, and warns that indebted countries such as Italy could run into trouble if they don’t heed rules limiting deficits....
CHRISTCHURCH, Barbados: Regional insurance fund CCRIF Spc plans to implement new insurance products for utility providers and vulnerable professions. CEO Isaac Anthony argued that vulnerable groups, such as fishers and farmers, tend to be...
CHRISTCHURCH, Barbados: Jamaican financial conglomerates NCB Financial Group and JMMB Group hold large stakes in the biggest insurance companies in the Caribbean, which represents a prominent symbol of recovery from the 1990s when an over-...
Norman Horne’s hardware distribution company Arc Systems Limited has been placed in receivership for unpaid debts related to construction steel, or rebars, bought from a transport company based in Montego Bay. The order, handed down in the...
The tax authorities have handed GraceKennedy Remittance Services Limited, GKRS, a near-$360-million bill for miscalculated consumption taxes four years ago, but the company is fighting the assessment and has made no provision for it. Tax...
First Heritage Co-operative Credit Union, FHC, doubled its surplus, set a new record and wiped out its deficit, all in a single blow. For CEO Roxann Linton, FHC’s performance in 2018 is affirmation of her bet that teamwork and relationships can...
Cuba announced Wednesday that is legalising private Wi-Fi networks and the importation of equipment like routers, eliminating one of the world’s tightest restrictions on Internet use. The measure announced by state media provides a legal status to...
Mexican authorities have frozen the bank accounts of Emilio Lozoya, the former head of Mexico’s state-owned oil company, and those of steel maker Altos Hornos de Mexico. The Financial Intelligence Unit said Monday that “there were various...
Global Payments will buy Total System Services (TSYS) in an all-stock deal valued at US$21.5 billion, the third major acquisition in the payment technology sector this year. Traditional payment processors like Global Payments are consolidating as...
Kingston Properties Limited has applied for special economic zone or SEZ status for its Grenada Crescent, New Kingston multistorey building, which it intends to use to house business processing outsourcing firms. “The SEZ application is in progress...
A new deal inked with three regional Nestlé businesses and others being considered with companies in Latin America position the Serge Island dairy operation at Bog Walk, St Catherine, to achieve full utilisation of its manufacturing capacity....
