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Business

Pension funds to venture into new avenues of investment - But with $25b to $50b to deploy, risk management is a priority concern

Published:Thursday | November 22, 2018 | 12:00 AMAvia Collinder/ Business Reporter

Pension funds could be the conduit for about $25 billion of venture capital financing, but while the Jamaican Government is laying the groundwork for this to happen, it's a more risky bet that traditionally conservative fund managers acknowledge...

JTB migrating to digital ads in line with mobile trends

Published:Monday | November 26, 2018 | 12:00 AM

The Jamaica Tourist Board (JTB), in its latest disclosure of its advertising and marketing strategies in an annual report newly laid in Parliament, says it is zooming in on mobile users as a trending demographic to maximise its advertising spend.It...

GM jobs signal tech shift in auto sector

Published:Tuesday | November 27, 2018 | 12:00 AM

Even though unemployment is low, the economy is growing and United States auto sales are near historic highs, General Motors (GM) is cutting thousands of jobs in a major restructuring aimed at generating cash to spend on innovation.The GM layoffs...

Apple to tutor women in tech in bid to diversify industry

Published:Tuesday | November 27, 2018 | 12:00 AM

Apple is launching a new programme designed to address the technology industry's scarcity of women in executive and computer programming jobs.Under the initiative announced Monday, female entrepreneurs and programmers will attend two-week tutorial...

United Technologies breaking into three independent companies

Published:Tuesday | November 27, 2018 | 12:00 AM

United Technologies is breaking itself into three independent companies now that it has sealed its US$23-billion acquisition of aviation electronics maker Rockwell Collins.The company's announcement Monday was the latest by a sprawling industrial...

Sagicor Financial sold - Canadian private-equity firm to pay US$536m for insurance conglomerate; Separate deal sealed to acquire Scotia insurance businesses

Published:Tuesday | November 27, 2018 | 12:00 AMAvia Collinder/Business Reporter

The acquisition of regional financial conglomerate Sagicor Financial Corporation Limited (SFC) by Canadian private-equity firm Alignvest will not affect shareholders of the Jamaican subsidiary, says president and CEO of Sagicor Group Jamaica Limited...

Guardian Holdings fined over NCB Financial takeover offer - New date for share bid still undetermined

Published:Tuesday | November 27, 2018 | 12:00 AM

The Trinidad & Tobago Securities and Exchange Commission, TTSEC, has fined Guardian Holdings Limited, GHL, TT$300,000, but while the alleged offence has some bearing on the takeover offer for the insurance conglomerate, the regulator has not disclosed the precise charge...

MPC Caribbean set for US$50m listing in two markets

Published:Tuesday | November 27, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

MPC Caribbean Clean Energy Limited, a start-up investment company that invests in renewable projects across the region, aims to raise US$50 million from cross-listing in Jamaica and Trinidad and Tobago.The brokers arranging the offer had to "dust...

Alignvest buying Sagicor Financial at a discount

Published:Tuesday | November 27, 2018 | 12:00 AM

Canadian investment firm Alignvest will acquire regional insurance giant Sagicor Financial Corporation (SFC) at a "substantial discount" relative to its estimated value of both SFC and its rivals, the company announced in Canada.It will pay US$536...

Global lawmakers grill Facebook exec, Zuckerberg a no-show

Published:Tuesday | November 27, 2018 | 12:00 AM

A cohort of international lawmakers is trying to turn up the pressure on Facebook, grilling one of its executives and making a show of founder Mark Zuckerberg's refusal to explain to them why his company failed to protect users' data privacy.The...

Fontana Pharmacy confirms IPO plans

Published:Tuesday | November 27, 2018 | 12:00 AM

Fontana Pharmacy confirmed today that it is working towards an initial public offering of shares with the help of its broker Scotia Investments Limited. Ray Therrien, Fontana’s chief operating officer said that “while we’re...

Venezuela holds on to Citgo refineries amid legal battle

Published:Monday | November 26, 2018 | 12:00 AM

Venezuela will hold on to its Citgo refineries in the United States, settling a long-standing dispute that threw ownership of the crisis-wracked country's prized assets into peril as its massive debt mounts.Venezuela on Friday began paying off US$1....

As roadworks impact sales ... GraceKennedy looks to delivery service to boost Hi-Lo business

Published:Tuesday | November 20, 2018 | 12:00 AMSteven Jackson

GraceKennedy Limited (GK), one of the Caribbean's largest and most dynamic food and finance corporate entities, is planning to update its Hi-Lo application for mobile phones to include deliveries of food and other items to set locations, starting...

Stationery & Office Supplies launches new products

Published:Thursday | November 22, 2018 | 12:00 AM

Stationery and Office Supplies Limited (SOS) has introduced four new paper book products for its SEEK brand, which assisted the growth in profits to $35.5 million for the September third-quarter 2018, or 88 per cent higher than a year- earlier level...

Oran Hall | A stable investment platform

Published:Friday | November 23, 2018 | 12:00 AM

Question: I need some professional advice. Where and how can I make an investment and look for a return of up to $50,000 per month? Where do I invest, and how much would I need to invest? Would you suggest that I use my own money to invest, or get a...

David Jessop | Changing US-China relations do not bode well for the Caribbean

Published:Friday | November 23, 2018 | 12:00 AM

In just over a week's time, on December 2, COP24, the 2018 United Nations Climate Change Conference, will take place in Katowice in Poland. In the two days before the G20, the grouping of the world's most powerful states will meet in Buenos Aires,...

Yaneek Page | Operating a social enterprise is no walk in the park

Published:Friday | November 23, 2018 | 12:00 AM

Question: Hello Yaneek, I am a huge fan of yours and really appreciate how you help young people to understand starting a business. I have always had a dream of being a social entrepreneur where I can give back to students who are in need and help...

Cedric Stephens | The law of agency exists between drivers and owners

Published:Friday | November 23, 2018 | 12:00 AM

Question: You wrote a few times about the new Road Traffic law which is before the Senate and is intended to replace the 80-year-old legislation that is still in force. What are your views on the section of the new legislation that proposes to hold...

itelbpo exploring listing on the Jamaica Stock Exchange

Published:Friday | November 23, 2018 | 12:00 AMNeville Graham

Homegrown Business process outsourcing outfit itelbpo is doubling its footprint, adding 1,500 jobs, and is exploring listing on the Jamaica Stock Exchange. The company, which began operations in 2012 with seven employees, now has 2,000 workers with...

Cariforum changes course on UK trade

Published:Tuesday | November 20, 2018 | 12:00 AM

Cariforum officials are expected to wrap up a two-day meeting today, Friday, on a new trade deal with the United Kingdom, one that contemplates a 'no-deal' Brexit and is based on the region's current Economic...

Carreras sales suffer from clampdown on crime, but profits secure

Published:Tuesday | November 20, 2018 | 12:00 AM

The Jamaican Government's extraordinary security measures has put a damper on the sale of cigarettes, given the curfew on entertainment venues in targeted zones, but market leader Carreras...

Cocoa assets back on the market, supply agreements continue

Published:Tuesday | November 20, 2018 | 12:00 AM

Amid plans to sell off local cocoa assets to a private investor, the Jamaican Government continues to market the beans locally and overseas amid challenges to the crop.Jamaica has been...

CPJ calls in new IT experts after asset write-off, one manager gone - Expects tech resolution by next midsummer

Published:Tuesday | November 20, 2018 | 12:00 AM

Caribbean Producers Jamaica (CPJ) has pulled the plug on the vendor that built its new IT platform, which failed at implementation, costing...

SSL Ventures to tap the market for $250m for pipeline investments

Published:Wednesday | November 21, 2018 | 12:00 AM

With a change in business model, from music publisher to venture capital financier, and its first earnings report distributed to the market, SSL Venture Capital Jamaica is looking to...

Darkening clouds start to overhang global economic expansion

Published:Wednesday | November 21, 2018 | 12:00 AM

After galloping along for the past two years, the global economy is showing signs of weakening, with the United States, China and Europe all facing the rising threat of a slowdown.Few economists...

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