Sat | Apr 20, 2019

Business

Published:Friday | March 15, 2019 | 12:36 AMSteven Jackson - Senior Business Reporter

Port company Kingston Wharves Limited plans to set up its third logistics warehouse this year at a cost of between $1 billion and $2 billion. The warehouse will cater to companies trading within the Caribbean, said Kingston Wharves Chairman Jeffrey...

Published:Friday | March 15, 2019 | 12:36 AM

United States Treasury Secretary Steven Mnuchin suggested Thursday he will protect President Donald Trump’s privacy if he receives a request from House Democrats for Trump’s tax returns. At a House Ways and Means Committee hearing, Mnuchin was...

Published:Friday | March 15, 2019 | 12:35 AM

OP-ED CONTRIBUTION: EMERGING MARKET ADVISER Times are tough in Argentina. Automobile production is at a 15 year low. The last time, the sector produced such few cars was when the country was in the midst of the depression that followed the 2001...

Published:Friday | March 15, 2019 | 12:35 AM

Power utility Jamaica Public Service Company, JPS, refinanced US$180 million in debt or roughly half of its borrowings, arising from a deal brokered by Sagicor Investments in February. Nearly two-thirds of the funding, which converts to more than $...

Published:Friday | March 15, 2019 | 12:34 AMNeville Graham - Business Reporter

Start-up investment outfit First Rock Capital Holdings Limited has raised $2.5 billion in equity capital from private investors, all of which it intends to pump as equity into various real estate ventures and other companies. First Rock, which...

Published:Friday | March 15, 2019 | 12:34 AMAvia Collinder - Business Reporter

A new entrant with tentacles throughout the Caribbean formally announced that it was open for business from New Kingston on Wednesday, nearly five years after the Massy conglomerate disclosed its plans to become a player in the general-insurance...

Published:Friday | March 15, 2019 | 12:33 AMNeville Graham - Business Reporter

The roll-out of new products is paying off for pharmaceutical distributor Indies Pharma Jamaica, which grew sales by double digits, and then doubled its profits along the way in the January quarter. The profit outturn has displaced some of the...

Published:Friday | March 15, 2019 | 12:33 AMAvia Collinder - Business Reporter

Last year, the shrinking credit union movement fell further, to 26 institutions, and the Bank of Jamaica is saying there’s still more contraction to come. It’s not that operators are going out of business, but rather there have been a series of...

Published:Friday | March 15, 2019 | 12:32 AMAvia Collinder - Business Reporter

Bank of Jamaica, BOJ, will issue new guidelines for liquidity management in the banking system, one that involves a new stress test. The central bank noted in its newly released annual report that elements of both the Basel II and III capital...

Published:Friday | March 15, 2019 | 12:32 AM

Gregory McDonald strides across the spotless factory floor at his company. He ploughed his life savings into the injection-moulding equipment that churns out plastic parts for everything, from aircraft to sprinkler systems and disposable medical...

Published:Thursday | March 14, 2019 | 12:20 AM

Airline pilots on at least two United States flights have reported that an automated system seemed to cause their Boeing 737 Max planes to tilt down suddenly. The pilots said that soon after engaging the autopilot on Boeing 737 Max 8 planes, the...

Published:Wednesday | March 13, 2019 | 1:42 AMAvia Collinder/Business Reporter

Legitimate providers of small loans in the micro market believe the bill to regulate the sector may have gone too far in its efforts to address predatory lenders. Dr Blossom O’Meally-Nelson, chairman of the Jamaica Association for Micro Financing (...

Published:Wednesday | March 13, 2019 | 12:22 AM

OP-ED CONTRIBUTION: BUILDING CODE Over the years, both man-made and natural disasters have threatened Jamaica’s built environment. There was a dire need not only for a modern building code but also for appropriate legislation to enforce the code to...

Published:Wednesday | March 13, 2019 | 12:22 AM

Two new Appleton aged rums launched internationally pushed sales of the Jamaican rum brands owned by the Italian Campari Group eight per cent higher to €91 million (J$13 billion) last year. The growth was based on what Campari called the continued...

Published:Wednesday | March 13, 2019 | 12:21 AM

The issue of a possible physical border between the United Kingdom’s Northern Ireland and the Republic of Ireland, an EU state, received scant attention during the 2016 Brexit referendum. But it has proven to be a major stumbling block in the...

Published:Wednesday | March 13, 2019 | 12:21 AM

A type of Takata airbag inflator once thought to be safe has now come under scrutiny after a crash and explosion in Maryland injured the driver of a Honda minivan. The incident forced Honda on Tuesday to recall about 1.2 million vehicles in North...

Published:Wednesday | March 13, 2019 | 12:20 AM

New Jersey Governor Phil Murphy and legislative leaders said on Tuesday that they have agreed on legislation to legalise recreational marijuana for adults. The Democratic trio, including Assembly Speaker Craig Coughlin and Senate President Steve...

Published:Wednesday | March 13, 2019 | 12:19 AM

Tesla is walking back plans to close most of its showrooms worldwide and announced price hikes for most of its electric vehicles. Tesla announced last month that it would shutter most of its stores to cut costs so it could sell its lower-priced...

Published:Wednesday | March 13, 2019 | 12:18 AM

The imposing headquarters complex that GraceKennedy is finalising on the Kingston waterfront will house a new outlet for Hi-Lo Food Stores, a supermarket chain operated by the group. The group announced the plan during a livestreamed investor...

Published:Wednesday | March 13, 2019 | 12:10 AM

Securities dealer Victoria Mutual Investments Limited, VMIL, grew its profits to $398 million for its full year, despite taking a hit on the Barbados bond in its earlier quarters. Its profit was 15 per cent higher year-on-year, performance the...

Published:Wednesday | March 13, 2019 | 12:08 AMHuntley Medley - Senior Business Writer

Armed with $70 million from its IPO, creative training institute iCreate is on a drive to upgrade its teaching facilities and instructional equipment and expand beyond its modest classrooms in Jamaica and Miami to other markets overseas. iCreate...

Published:Wednesday | March 13, 2019 | 12:07 AMNeville Graham - Business Reporter

It was a bad year for KLE Group, some of which the entertainment company blamed on ongoing roadworks along Constant Spring corridor, where its prime money earner is based. KLE Group also faced administrative costs to get its franchise programme...

Published:Wednesday | March 13, 2019 | 12:05 AMAvia Collinder/Business Reporter

Effective immediately, Jamaica Mortgage Bank (JMB) will be reducing the ­premium rate for mortgage indemnity ­insurance (MII) coverage by up to 29 per cent. The MII, rates which were seven per cent of mortgage loans, will now be cut as low as five...

Published:Tuesday | March 12, 2019 | 12:13 AM

A Japanese court has rejected a request by former Nissan Chairman Carlos Ghosn, released on bail last week, to attend the Japanese automaker’s board meeting today, Tuesday. Nissan dismissed Ghosn as chairman after his November 19 arrest, but he...

Published:Monday | March 11, 2019 | 2:52 PM

Even when an employer has good, substantive grounds for the dismissal of an employee, that employer can be found to have unjustifiably dismissed the employee by Industrial Disputes Tribunal (IDT) if the proper procedure was not followed....

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