Tue | Aug 21, 2018

Stories by Steven Jackson/ Senior Business Reporter

Published:Wednesday | August 15, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Telecommunications provider Cable & Wireless Jamaica, which trades as FLOW, earned US$183 million ($23 billion) in revenue over six months ending June, derived in part from price increases...

Published:Wednesday | July 25, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Playa Hotels & Resorts Limited expects to recoup its investment in the Jewel Grande and Hilton Rose Hall resort properties acquired under a deal with Sagicor Group Jamaica, in less than five years...

Published:Wednesday | July 25, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Deaf Can! Coffee, a social enterprise that trains deaf workers in the art of coffee and baking, continues to grow its footprint with the addition of a mobile cafe, which would put its barista staff in 13 locations nationwide.And while Deaf Can! is not...

Published:Wednesday | July 18, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Start-up loan broker Finance Hub aims to reduce the hassle of borrowing.It takes time to shop around for the best loan rates but a start-up company, Finance Hub Jamaica Limited, aims to cut that time to about a day.The company acts as broker between...

Published:Wednesday | July 4, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Ratings agency Moody's Investors Service changed its long-term outlook on regional telecoms Digicel Group to negative, arguing that the planned sale of cell towers to reduce debt needs more disclosure.It is rare for Moody's to issue such a change of...

Published:Wednesday | July 4, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Tech firms Ctrl-IT and Hacker Hostel merged their operations in June, positioning the companies to go after business in Caribbean markets."Ctrl-IT had a problem of getting into other markets in order to meet our ambitious revenue target, while we at...

Published:Wednesday | June 27, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Marine park operator Dolphin Cove Limited, which makes most of its revenue in foreign currency, expects the downward swing in the value of the Jamaican dollar to be beneficial to the company's stock.Chairman and CEO Stafford Burrowes, who also...

Published:Wednesday | June 20, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Digicel Group Limited plans to sell hundreds of its Caribbean cell towers in a bid to reduce its leverage. Details are still emerging, but the company plans to finalise the deal in the second quarter of this financial year. The terms of the deal,...

Published:Wednesday | June 13, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Cargo ports in Kingston ranked first in the Caribbean and eighth in Latin America for cargo movements in 2017 despite flat performance, according to data released by a United Nations regional body.The port in Caucedo, Dominican Republic, ranked...

Published:Wednesday | June 13, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Derrimon Trading Limited, owner of the Sampars chain of supermarkets, is predicting savings of about $20 million in interest costs, having secured a $625 million loan to refinance existing debt.The loan will finance the early redemption of bonds...

Published:Wednesday | June 6, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Start-up venture IronRock Insurance Company said property insurance rates could remain stable or dip next year despite predictions of a fairly active hurricane season."The activity is not the issue. The issue is whether the activity generates losses...

Published:Wednesday | May 16, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Jamaican models are in major campaigns for brands such as Gucci and Balenciaga, but local fashion designers are yet to attain similar levels of access.Saint International modelling agency and the state agency Jamaica Business Development Corporation...

Published:Wednesday | April 18, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Stationery & Office Supplies Limited (SOS) announced that it acquired the manufacturing assets of Book Empire Limited, which makes notebooks, choir books, and writing pads, in a deal worth $80 million...

Published:Wednesday | April 11, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Power utility Jamaica Public Service Company JPS, more than doubled its stake in the joint venture handling construction of its power plant in Old Harbour, in order to meet state requirements.Under a US$16-million transaction, JPS increased its...

Published:Wednesday | April 4, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Chris Dehring needs US$3 million of financing to build out the next phase of ReadyTV, but appears unlikely to get the funds from the banks, even while talks continue with potential backers.As a start-up, the cable TV company was financed with equity...

Published:Wednesday | March 28, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Licensed ganja operator Epican Medicinal Limited plans to open an outlet at popular Market Place complex in Kingston, which the planning authorities describe as an agro-processing facility.Epican has received planning permission and an environmental...

Published:Wednesday | March 28, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Kingston Freeport Terminal Limited, KFTL, plans to renovate and expand 15 structures at the port, and is now recruiting designers for the project.The port operator in its 'Request for Interest', said the scope of work includes architectural designs...

Published:Wednesday | March 21, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

IBEX Global Solutions, an outsourcing firm based in the United States, has spent the majority of J$760 million (US$5.9 million) on capital expenditure in Jamaica over a six-month period ending December 2017.At the same time, IBEX Holdings Limited...

Published:Wednesday | March 21, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Jamaica Producers Group (JP) made a higher profit during its 2017 financial year, once discounting one-off gains from a year earlier.The conglomerate reported $1.62 billion in profit for its 2017 financial year, which represented a decline of 62 per...

Published:Wednesday | March 21, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Health Minister Dr Christopher Tufton is advising manufacturers to reduce the sugar content in beverages they sell and market in Jamaica, underscoring that by so doing, it will increase a product's competitiveness.It comes amid a global trend in...

Published:Wednesday | March 14, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

The sales and administrative functions of Mavis Bank Coffee Factory, which is based in the rural hills of St Andrew, are now carried out from the complex of sister company Wallenford Coffee in Kingston.The two companies have also combined their...

Published:Wednesday | March 14, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Caribbean Cement Company Limited, CCCL, plans to more than double its gypsum and limestone quarries, a move aimed at supplementing raw materials that are now described as hovering at critically low levels.The plan requires approval from regulator,...

Published:Wednesday | March 7, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Derrimon Trading Limited will issue new preference shares to the market to refinance its existing debt."The offer will refinance our current preference shares," said Chairman and CEO Derrick Cotterell at the extraordinary general meeting (EGM) for...

Published:Wednesday | February 21, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

NCB Capital Markets Limited sold roughly 21 per cent of its holding in Knutsford Express Services Limited (KEX) earlier this month for nearly $300 million.The transaction more than covered NCB Capital's initial investment in the company back in...

Published:Wednesday | January 24, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Amid uproar among minority owners of Guardian stock regarding pricing and a previously undisclosed deal between key shareholders and NCB Financial Group, the Trinidad...

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