Jamaica Business News

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Updated: 25 min 34 sec ago

Spanish Town Economic Zone operator gets nod for lubricants plant

December 9, 2016 - 12:00am
GulfRay Americas Manufacturing Limited plans to build a lubricants plant in the Spanish Town Economic Zone, according to documents obtained under...

Five hotels to break ground in the new year

December 9, 2016 - 12:00am
At least five new hotels will launch construction starting January, with several other investors scoping out lands they intend to build on, Tourism Minister Edmund Bartlett...

New cigarette maker already victim of fake products

December 9, 2016 - 12:00am
Nostic Agricultural & Manufacturing Limited says local distributors are now hesitant to stock its cigarettes as counterfeit products are causing serious confusion in the market...

Phoenix Printery makes big investment, laying groundwork for new business

December 9, 2016 - 12:00am
Phoenix Printery is pumping capital into new equipment and other aspects of the operation under an ambitious plan to corner 40 per cent of the...

Scotia Group profit grows 14%

December 9, 2016 - 12:00am
Scotia Group Jamaica (SGJ) reported a 14 per cent rise in net profit to $11.6 billion for the year ended October 2016, up from $10 billion.It translated to earning per share of $3.63 for the full year.The banking group...

Salada doubles earnings despite lagging exports

December 9, 2016 - 12:00am
Salada Foods Jamaica Limited, producers of Mountain Peak instant coffee, doubled its annual profit despite a reduction in export sales.The company made $69 million at year ending September, up from $31....

Jamaica dips in global trade rankings

December 9, 2016 - 12:00am
Jamaica fell one spot to 89 among 136 nations in the latest global study.The island contributes to 0.02 per cent of global trade and suffers from structural constraints, said the Global Enabling Trade Report 2016...

Everald Dewar | Taxing a lie

December 9, 2016 - 12:00am
During a tax enquiry, revenue agents requested a copy of a taxpayer's loan application form.The taxpayer refused and was issued with a notice under Section 171 of the Revenue Administration Act - the RAA - demanding the document.The...

Walter Molano | Beware politicians trying to do good

December 9, 2016 - 12:00am
The saying 'do well by doing good' is the mantra among elites.It is the rationale that many well-educated and well-intentioned individuals use to justify making fortunes from running charities, foundations, non-...

Norwegian, Royal Caribbean get approval for Cuba cruises

December 9, 2016 - 12:00am
Norwegian and Royal Caribbean cruises on Wednesday announced that they have received permission from the Cuban government to sail from the US to Cuba.Norwegian Cruise Line Holdings plans...

Travel demand to Cuba softens

December 9, 2016 - 12:00am
Demand for travel to Cuba may be flattening, with soaring hotel prices on the island, American Airlines cutting some flights, and uncertainty over whether new travel restrictions could be imposed when Donald Trump takes...

Bumble Bee executive charged in price-fixing probe

December 9, 2016 - 12:00am
A senior executive with Bumble Bee Foods LLC has agreed to plead guilty in a price-fixing scheme, federal prosecutors said Wednesday in announcing a continuing investigation into the packaged seafood...

No let up of migrant surge into the US

December 9, 2016 - 12:00am
The surge of Central American families seeking asylum at United States borders is not letting up, Customs and Border Protection Commissioner Gil Kerlikowske said Wednesday after touring a temporary holding...

Pirates preying on Venezuelan fishermen as industry unravels

December 9, 2016 - 12:00am
The pirates had killed Flaco Marval's brother and two cousins, and word was they were coming for the rest of the family.So the skinny 17-year-old and the other Marval men ran to grab the...

Brazil top court reinstates defiant Senate chief

December 9, 2016 - 12:00am
Brazil's top court reinstated the head of the Senate on Wednesday, overturning an order by one of its members who set off a constitutional confrontation by suspending the lawmaker from his leadership...

UK gov't agrees under pressure to divulge Brexit plan details

December 9, 2016 - 12:00am
Britain's House of Commons voted on Wednesday to back Prime Minister Theresa May's March 31 deadline to start the U.K's. formal exit from the European Union, after the government agreed to...

European Central Bank adds more stimulus

December 9, 2016 - 12:00am
The European Central Bank (ECB) is adding half a trillion euros (US$579 billion) in stimulus to the Eurozone economy to support growth as Europe heads into what could be a tumultuous election year.The bank's 25-member governing...

Big business cautiously optimistic about Jamaican dollar appreciation

December 9, 2016 - 12:00am
Both the Private Sector Organisation of Jamaica (PSOJ) and the Jamaica Manufacturers' Association (JMA) are crediting the recent appreciation of the...

Pfizer fined for drug price hike

December 8, 2016 - 12:00am
British regulators fined United States drugmaker Pfizer and distributor Flynn Pharma a record £89.4 million (US$112.7 million) Wednesday for increasing the cost of an epilepsy drug by as much as 2,600 per cent.Pfizer and Flynn Pharma charged "...

Caribbean Cement to migrate to Mexican ownership - Cemex to delist Jamaican operation from stock market after TCL takeover

December 7, 2016 - 12:00am
Cemex's takeover of Trinidad Cement Limited (TCL), if successful, will also give it majority control of Caribbean Cement Company Limited, and the Mexican powerhouse has said it will take the Jamaican operation private by delisting it from the stock...