Jamaica Business News

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Updated: 2 hours 39 min ago

BOJ reduces benchmark interest rate

April 17, 2015 - 12:00am
Inflation has hit its lowest point in 48 years at four per cent, and now the Bank of Jamaica has cut its policy rate by 25 basis points, saying it expects consumer prices to remain low over the next year. BOJ has reduced the benchmark rate on the...

Industry Ministry to sign Krauck-Anchor as partner on logistics hub financing

April 17, 2015 - 12:00am
The Ministry of Industry Investment and Commerce will sign an agreement on Monday with two overseas companies, Krauck Systems, out of Austria/Germany and lead financier Anchor Finance Group LLC, based in New York, to seek out US$5 billion in...

Analysis: A look at why Greece is again in danger of default

April 17, 2015 - 12:00am
By the day, Greece is getting closer to a potentially catastrophic debt default that could force it out of the euro bloc. All it needs to avoid that fate is a deal with its creditors to get more loans – yet weeks of wrangling over the terms...

Ja gets a boost in PPP rankings

April 17, 2015 - 12:00am
Jamaica's outreach to investors under public-private partnerships, referred to as PPPs, is making its mark and has landed it among the top 10 markets in the Americas for infrastructure projects.A new report released this week by the Inter-American...

JMMB reconfigures New Kgn banking operations

April 17, 2015 - 12:00am
The Kingston operations of JMMB Merchant Bank are to be split between two locations in the central business district, but will remain headquartered at Grenada Way.The bank's customer-focused operations will shift to Knutsford Boulevard on April 20,...

Knutsford Express cuts fares, eyes Portland as new destination

April 17, 2015 - 12:00am
Knutsford Express Limited has cut fares as passenger loads have increased, the bus company reported in its newly released third-quarter earnings report.Knutsford, meanwhile, is planning to tap into a tourism market for ground travel on the north...

Borrower is servant to lender, usually

April 17, 2015 - 12:00am
IN BANKING, we have an understanding that when a bank lends any borrower a very large amount of money, that bank has to make sure the borrower is treated with velvet gloves.The banker must ensure that his borrower of a big pot of his bank's money...

Argentina: The love returns

April 17, 2015 - 12:00am
ARGENTINA HAS been the black sheep of the emerging world for more than a decade.A messy default, a misunderstood restructuring, the nationalisation of several large companies, as well as the government's hostility towards free-market policies,...

Surging dollar rattles world economies, markets

April 17, 2015 - 12:00am
The US dollar hasn't been on a roll like this since Ronald Reagan sat in the White House.Since June 30, the greenback is up 28 per cent against the euro, 18 per cent against the Japanese yen and 40 per cent against the Brazilian real. Not since 1981...

Mortgage market slumps after growth spurt

April 17, 2015 - 12:00am
Mortgage loans had a resurgence in the final months of last year, but Planning Institute of Jamaica (PIOJ) indicates that the new business failed to pull the market out of a year-long slump, in which the National Housing Trust (NHT) was one of the...

DRT Communications offers real-time Caribbean media monitoring

April 16, 2015 - 11:01pm
DRT Communications Limited has acquired software that will allow it to track media markets across the Caribbean for any mention of clients or their specials interests, even in places that speak variants of English.DRT will track social media/...

Bank of Jamaica cuts interest rate

April 16, 2015 - 7:32pm
Inflation has hit its lowest point in 48 years at four per cent, and now the Bank of Jamaica has cut its policy rate by 25 basis points, saying it expects consumer prices to remain low over the next year. BOJ has reduced the benchmark rate on the...

Fed survey finds US economy growing at moderate pace

April 16, 2015 - 12:00am
The United States economy was growing at a moderate pace from mid-February through the end of March although the harsh winter, the rising value of the dollar and a big plunge in oil prices were having adverse effects on some industries, the US...

EU alleges Google hurts consumers, innovation

April 16, 2015 - 12:00am
The European Union's (EU) escalating legal attack on Google is likely to ignite a debate about whether the Internet search leader makes life more convenient for consumers or abuses its power to squeeze out rivals who might have something better to...

Burger King partners with Rainforest as beef supplier

April 15, 2015 - 12:01am
Richard Lake's Restaurant Associates Limited, the owner of the Burger King franchise in Jamaica, has appointed Rainforest Seafoods as it new supplier of beef amid a fallout with former 30-year partner, Jamaica Broilers Group.The switch in suppliers...

More resort properties qualify for tax relief

April 15, 2015 - 12:00am
Minister of Tourism Dr Wykeham McNeill said the reform of tax laws that streamlined incentives for all sectors has led to more local properties qualifying for relief. Properties now can claim relief on capital goods  and other inputs have...

Wealthy Jamaicans form angel investor group - First Angels Jamaica has one deal in play from seven pitches

April 15, 2015 - 12:00am
A number of Jamaicans of high net worth or who run their own companies have banded together with other financiers to form the first home-grown angel investor group to back the start-up ventures of aspiring local entrepreneurs.First Angels Jamaica (...

Island Car Rentals to expand fleet

April 15, 2015 - 12:00am
Citing rising demand, Island Car Rentals will be upgrading and increasing its fleet of vehicles this year ata cost of about US$5 million (J$575m), says Managing Director Michael Campbell.Island had turnover of more than $1 billion in 2014, with...

Loshusan puts $1.4b early price tag on Sovereign Village

April 15, 2015 - 12:00am
Wendy's and Domino's, food franchises operated by the Wisynco Group, as well as a branch of Sagicor Bank Jamaica are among the prospective candidates for space at Sovereign Village, a commercial complex under development by Gladstone Loshusan in...

Hundreds of NHT housing units untaken, chosen applicants fail to qualify

April 15, 2015 - 12:00am
The National Housing Trust (NHT) has indicated that in the last two years, hundreds of persons who have applied and were chosen for housing in its schemes have not been able to take up the offers.So far, more than 250 houses and serviced lots have...