Jamaica Business News

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Updated: 19 min 57 sec ago

OPEC reaches preliminary accord to curb oil production

22 hours 8 min ago
OPEC nations reached a preliminary agreement on Wednesday to curb oil production for the first time since the global financial crisis eight years ago, pushing up prices that had sunken over the past two years and weakened the economies of oil-...

Facey Group to raise US$10m from investors

September 28, 2016 - 12:00am
The Facey Group, one of the largest distribution outfits in the Caribbean, aims to raise US$10 million ($1.3 billion) from a bond to be issued next month.The company said the bond, targeted at high net worth or accredited investors, will be sold in...

Kremi investing $200 million in plant upgrade

September 28, 2016 - 12:00am
Caribbean Cream Limited, which trades as Kremi ice cream, plans to invest $200 million to improve operations and dress up expanded space in its Kingston plant.The company announced the investment in its operations, even while categorising the newest...

C2W Music paid out more to accountants than it made in revenues

September 28, 2016 - 12:00am
Music publisher C2W Music Limited paid more money to accountants and auditors than it earned in total revenues over six-months. It raises issues about the sustainability of the company whose accumulated deficit continues to grow. The company's...

Sutherland Global recruiting 1,500

September 28, 2016 - 12:00am
Sutherland Global Services is hiring up to 1,500 additional staff, which would grow its workforce by a quarter.The call centre operator has advertised for "full-time and seasonal professionals" as customer service and inbound-sales...

CaPRI gives thumbs up to Tax Administration

September 28, 2016 - 12:00am
Tax Administration Jamaica (TAJ) is being praised by the Caribbean Policy Research Institute (CaPRI) for its drive to improve collections through voluntary compliance, but the think tank is also prodding the agency to spend more time educating...

Bahamas PM reports progress on Baha Mar project

September 28, 2016 - 12:00am
The Bahamas government is reporting "considerable progress" one month after it announced an agreement had been reached on the remobilisation, completion, sale and opening of the Baha Mar mega resort.Prime Minister Perry Christie says The Bahamas and...

Iran dims hopes for deal on oil freeze this week

September 28, 2016 - 12:00am
AP:Iran played down hopes Tuesday that a deal to limit oil production will emerge this week in a meeting in Algeria, prompting big falls in oil prices.Speaking in Algiers at a meeting of oil-producing countries, Iranian Petroleum Minister Bijan Namdar...

Merkel gives no sign of help for Deutsche Bank

September 28, 2016 - 12:00am
Deutsche Bank shares are down further after German Chancellor Angela Merkel gave no indication that her government might help the group with a United States demand for a US$14 billion legal settlement.Merkel told reporters in Berlin on Tuesday that...

Aristide assumes visible role in Haiti presidential campaigning

September 28, 2016 - 12:00am
Former President Jean-Bertrand Aristide has leapt from behind the scenes to take a major role in campaigning for next month's presidential election, leading many to believe the polarising figure in the tumultuous world of Haitian politics is poised...

Create financial inclusion council without delay - IMF

September 28, 2016 - 12:00am
The International Monetary Fund (IMF) is urging the Jamaican Government to establish a financial inclusion council as part of the efforts to achieve higher economic growth by, among other things, improving financial access.Noting that progress...

Brazil arrests Lula's ex-finance minister in graft probe

September 27, 2016 - 12:00am
Brazilian authorities arrested a former finance minister yesterday for his alleged role in a massive kickback scheme, the latest high-level politician to be snared in a corruption probe roiling Latin America's largest nation.Antonio Palocci, who was...

Frances Wade | Why strategic thinkers leave leaders stranded

September 25, 2016 - 12:11am
In today's turbulent financial and economic environment, there's no doubt that companies need strategic thinkers at all levels. However, most do little to develop employees who have this skill, leaving it to chance. What should your firm do...

Usain Bolt to invest $10m in razor business

September 25, 2016 - 12:00am
Usain Bolt is spending over $10 million to set up a razor blade business called Champion Shave and is now actively seeking retailers to push the products into three markets.The Olympian and sport celebrity is tapping a current trend in men's...

More than $16b needed to fund second round of $1.5m tax threshold

September 25, 2016 - 12:00am
The Jamaican Government may need to impose revenue measures in excess of the$16 billion required to fund phase two of the personal income tax reform, which will see the threshold move to $1.5 million at the start of fiscal year 2017-18, according to...

Umbrella gaming regulator proposed

September 25, 2016 - 12:00am
A new gaming regulatory body, whose remit will include help for gambling addicts, is under consideration.Speaking at the 2016 Gaming Industry Summit in Kingston last Thursday, Minister of Finance Audley Shaw proposed a full review of the role and...

Financial Adviser | A tutorial on early retirement for state workers

September 25, 2016 - 12:00am
 Q: I have been employed to the Ministry of Education for 17 years and I am 55 years old. I want to apply for early retirement. Could you please supply me with some answers to these questions?...

Insurance Helpline | Negotiating your own compensation for pothole damage

September 25, 2016 - 12:00am
QUESTION: My vehicle suffered serious damage three months ago. The incident occurred when it fell into a huge hole filled with water at night. The road was poorly lit. There were no signs to warn pedestrians or motorists. I stopped buying...

David Jessop | Forward thinking required on foreign policy

September 25, 2016 - 12:00am
A few days ago, US President Barack Obama gave what in effect was a farewell address to the United Nations General Assembly. It was personal, heartfelt and frank. It spelt out the challenges that liberal democracies, including those in the Caribbean...

Marriott buys Starwood, becoming world's largest hotel chain

September 25, 2016 - 12:00am
Several of the best-known names in travel are now united in one hotel company.Marriott International closed Friday morning on its US$13 billion acquisition of Starwood Hotels...