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Business

Bank of Jamaica lowers policy rate to 1.75%

Published:Friday | December 21, 2018 | 12:00 AM

The Bank of Jamaica (BOJ) has lowered the policy interest rate – the rate offered on overnight placements with the central bank – by 25 basis points to 1.75 per cent. The decision reflects the Bank’s most recent assessment that...

Bank of England warns of intensified Brexit uncertainties

Published:Thursday | December 20, 2018 | 12:00 AM

The Bank of England warned Thursday that uncertainties related to Brexit have "intensified considerably" since early November and are increasingly weighing on the United Kingdom's economy....

Island Car Rentals refinances and expands

Published:Tuesday | December 18, 2018 | 12:00 AM

Island Car Rentals Limited has secured a $2.2-billion arsenal from a bond issue that will be pumped into expansion of the company's Montego Bay operations, and used to replace existing bank debt.Chairman and...

NCB reverts to original GHL takeover target - Gets financing support from Lok Jack, Ahamad families

Published:Wednesday | December 19, 2018 | 12:00 AM

NCB Financial Group Limited has reverted to its original plan to grow its stake in Guardian Holdings to 62 per cent, and is willing to pay a higher price...

iCreate looks to the market for capital to expand

Published:Wednesday | December 19, 2018 | 12:00 AM

Despite reports that a float of its shares on the junior stock market is weeks away from execution, digital media training start-up iCreate Institute, founded by Tyrone Wilson and partners, insists it'...

Jan Keil | Jamaica needs a special industrial zone

Published:Thursday | December 20, 2018 | 12:00 AM

In last week's column, I argued that a country like Jamaica can only escape poverty through industrialisation. This is a long process of rapid growth in emerging manufacturing industries.Today, I sketch an idea...

Glaxo, Pfizer tomerge consumer healthcare divisions

Published:Thursday | December 20, 2018 | 12:00 AM

Drugmakers GlaxoSmithKline, GSK, and Pfizer plan to merge their consumer health businesses into what will be the world leader in sales of non-prescription medicines such as pain relievers, vitamins...

New Fortress completes offshore LNG terminal - Golar expects to generate US$22m from Jamaica project

Published:Thursday | December 20, 2018 | 12:00 AM

Golar expects to generate US$22m from Jamaica projectNatural gas supplier New Fortress Energy has erected its new floating regasification vessel called the Golar Freeze offshore Old Harbour, under a long-...

Bondholders sue Venezuela over defaulted debt

Published:Thursday | December 20, 2018 | 12:00 AM

A trust representing holders of Venezuelan bonds filed suit in New York federal court on Tuesday demanding payment on more than US$34 million in unpaid debt.The lawsuit is believed to be the first by a...

Altria strides into vape market with stake in Juul

Published:Thursday | December 20, 2018 | 12:00 AM

Altria, one of the world's biggest tobacco companies, is spending nearly US$13 billion to buy a huge stake in the vape company Juul as cigarette use continues to decline.The Marlboro maker said on...

Fed hikes rates for fourth time this year

Published:Wednesday | December 19, 2018 | 12:00 AM

The United States Federal Reserve is raising its key interest rate for the fourth time this year to reflect the US economy's continued strength but signalling that it expects to slow hikes next year.The quarter-point hike, to a range of 2.25 per...

Barita targets $4b from rights issue

Published:Monday | December 17, 2018 | 12:00 AM

Barita Investments Limited plans to raise $4 billion in a rights issue that could be used for future acquisitions.The company's stock, which trades as BIL, has nearly tripled in price since the end of summer, and while the rights issue will dilute...

Lowe inks new deal for clinical trials of another cancer drug

Published:Monday | December 17, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Businessman and scientist Dr Henry Lowe, who has a series of cancer drugs in various stages of development under different partnerships, announced his second deal to conduct clinical trials in as many months.The latest will see Educational and...

Byles gives thumbs up to Playa share buyback - Sagicor recoups some losses, but only slightly

Published:Monday | December 17, 2018 | 12:00 AMSteven Jackson/Senior Business Reporter

Shares in Playa Hotels & Resorts rallied at the top of the week following an announcement by Playa to buy back its own shares...

FosRich manufacturing debut set for January

Published:Monday | December 17, 2018 | 12:00 AMNeville Craham/Gleaner Writer

By late January, FosRich Company will be putting the final touches to a manufacturing facility that will be based at the complex now used for storage.The transformation of the 180,000 square foot Maverley Avenue warehousing site in Kingston is being...

Nissan punts on new chairman to replace Ghosn

Published:Tuesday | December 18, 2018 | 12:00 AM

Nissan's board met Monday but failed to pick a new chairman to replace Carlos Ghosn, who was arrested last month on charges of violating financial regulations, saying more discussion was needed.Nissan Motor Company CEO Hiroto Saikawa told reporters...

Huawei calls on US, others to show proof of security risk

Published:Tuesday | December 18, 2018 | 12:00 AM

The chairman of Huawei challenged the United States and other governments to provide evidence for claims that the Chinese tech giant is a security risk, as the company launched a public relations effort Tuesday to defuse fears that threaten its role...

Access finalises deal for Florida microlender

Published:Tuesday | December 18, 2018 | 12:00 AM

Access Financial Services Limited paid US$6.4 million ($830 million) for its first foreign acquisition, Embassy Loans Inc, a microlender based in Florida, United States, which it plans to use as a springboard for further expansion.The deal was in...

UK ramps up 'no-deal' Brexit preparations amid impasse

Published:Tuesday | December 18, 2018 | 12:00 AM

Britain's government ramped up preparations Tuesday for the possibility that the United Kingdom could leave the European Union (EU) in 101 days without a divorce deal - putting soldiers on standby and warning thousands of businesses and millions of...

Malaysia files criminal charges against Goldman Sachs

Published:Monday | December 17, 2018 | 12:00 AM

Malaysia filed criminal charges against Goldman Sachs and two former executives on Monday for their role in the alleged multibillion-dollar ransacking of state investment fund 1MDB.Attorney General Tommy Thomas said that the government is seeking...

JUCDA reverses course on vehicle pre-inspections - Policy driving up business in auto market, pressures Japan dealers

Published:Friday | December 7, 2018 | 12:00 AMNeville Graham

The used-car sector is walking back its howls of protest over the pre-shipment inspection policy for motor vehicles that they initially pronounced would have been the death knell of vulnerable dealers.But that was last year.Now, some 16 months into...

Most of NIDS loan to be used for tech upgrades

Published:Thursday | December 13, 2018 | 12:00 AMMcPherse Thompson

Most of the US$68 million the Inter-American Development Bank has approved for Jamaica's controversial National Identification System (NIDS) will go towards upgrading the information and communication technology infrastructure across government....

Cedric Stephens | Impaired drivers can complicate accident claims

Published:Friday | December 14, 2018 | 12:00 AM

Question: On Thursday, February 1, 2018, I was involved in a collision in Greater Portmore. It occurred along Queens Avenue, near to the Resident Magistrate's Family Court on SW 1st Avenue and the health centre. I was travelling on the major road....

Oran Hall | Making deliberative investment decisions

Published:Friday | December 14, 2018 | 12:00 AM

I am bringing together much of what I have written about deciding to invest in past columns for the benefit of the many prospective and new investors who ask about how to invest.It is important to recognise that investing is dynamic because the...

Francis Wade | How to gamify employee engagement

Published:Friday | December 14, 2018 | 12:00 AM

For most companies, staff engagement is just like a religious belief: some either have it or they don't.This separation between those who are blessed or cursed is familiar to any churchgoer, but does it have a place in corporate Jamaica? There may a...

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