Jamaica Business News

Syndicate content
Updated: 7 hours 2 min ago

Access CEO, board legal battle ends

15 hours 19 min ago
More than a year after Access Financial Services’ directors and its CEO entered a legal tussle over spending on refurbishment of the company’s head office building at Half Way Tree Road, all lawsuits have been dropped. The move was...

Jamaica Broilers exits ethanol market

15 hours 20 min ago
Jamaica Broilers Group is yet to fully recover the US$42 million poured into its ethanol plant over eight years, but the poultry company has now decided to exit the market as a producer of the biofuel and is seeking a business partner to operate the...

Food, energy prices climb in May

15 hours 20 min ago
Yellow yam might be more affordable now than it was a month ago, depending on where it is bought, but overall prices on vegetables and starchy foods leaving through the farm gate jumped this month, according to data published by the Jamaica...

MoneyGram boosts Lasco Financial revenue - Camilo Thame

15 hours 20 min ago
The company recorded $680 million in income, derived from margins on buying and selling foreign currency; sending and receiving remittances; and interest earned on loans for the 12-month period. Comparatively, it generated $595 million in revenue...

IMF official says China's yuan no longer undervalued

15 hours 20 min ago
The International Monetary Fund (IMF) no longer believes China's tightly controlled currency is undervalued, an IMF official said on Tuesday, a stance that might help Beijing in its wrangling with Washington over exchange rate controls.The IMF's...

Businesses in Venezuela quietly dollarise

15 hours 20 min ago
It's still possible to buy a gleaming Ford truck in Venezuela, rent a chic apartment in Caracas, and snag an American Airlines flight to Miami. Just not in the country's official currency.As the South American nation spirals into economic chaos, an...

Aggressive on expansion, Derrimon acquiring another retailer

15 hours 20 min ago
Derrimon Trading Company burned through another round of expansion cash paying down loans and building working capital in the first quarter - and it is buying a sixth retail outlet.The company, which operates Sampars retail outlets and distributes...

Boost required in domestic private sector credit

15 hours 20 min ago
Governor of the Bank of Jamaica (BOJ), Brian Wynter, said he remained concerned about the relatively low rate of expansion of private sector credit from the banking system, echoing sentiments expressed by co-chairman of the Economic Programme...

Mayberry increases stake in Lasco Financial Services

May 26, 2015 - 8:45pm
Mayberry Investments Limited has increased its stake in Lasco Financial Services to 20 per cent, Lasco chairman Lascelles Chin said in a statement. Mayberry’s chairman Christopher Berry will join Mayberry CEO Gary Peart on Lasco Financial...

Cable company Charter buying Time Warner Cable

May 26, 2015 - 11:06am
Charter Communications is buying Time Warner Cable for US$55.33 billion, creating another US television and Internet giant. And executives say they're confident regulators will allow it. The deal comes a month after Comcast, the country's...

Greece rules out capital controls if bailout talks fail

May 25, 2015 - 12:40pm
Greece's government on Monday ruled out restricting access to bank accounts and the free movement of money if there is no breakthrough soon in tortuous talks with bailout creditors and its dwindling cash reserves dry up. The possibility of...

Guyana's leader forms cabinet, seeks to boost energy sector

May 25, 2015 - 12:00pm
Guyana's new president has appointed 27 ministers to his cabinet after his opposition coalition won the South American country's general election. Retired army general David Granger awarded several ministries to the smaller Alliance for...

New luxury bus service to roll out in June - Corporate Express eyes Portland, Montego Bay routes

May 24, 2015 - 12:00am
A second luxury bus service called Corporate Express is about to enter the market, starting with one route from Kingston to Port Antonio and two buses, which will eventually grow to a fleet of four.Businessman and hotelier Ernest Constantine '...

Food produce market now available online at Fresh Mart Express

May 24, 2015 - 12:00am
A local wholesaler has carved out a niche for itself in the fresh produce delivery business, bringing a range of foods to the homes and offices of its customers.The business, which operates from Newport West in Kingston, is divided into two entities...

New owner going after corporate events, foreigners for Fiction Fantasy

May 24, 2015 - 12:00am
Businessman David Annakie, who bought out Fiction night club from KLE Group, has poured roughly US$1 million into a new look for the entertainment spot.Annakie now has full control of the club through his New York-based company Linkup Media Group....

High Hope owner holds firm to price tag after failed auction

May 24, 2015 - 12:00am
The owner of the High Hope Estate overlooking Montego Bay is holding firm to a US$900,000 price tag after a failed attempt to sell the property, but will be pitching in antiques and other furnishings that realtor Maura Watson says are worth close to...

Lenders tighten up on loans - Likely due to credit bureau impact

May 24, 2015 - 12:00am
The latest credit conditions survey done by the central bank indicates that lenders tightened up on credit in the December quarter leaving loan demand from small firms largely unmet.However, lenders also offered some Jamaican dollar loans at a...

Resolving messy debt problem will be painful

May 24, 2015 - 12:00am
QUESTION: I am currently in a really messed up situation called debts. I have two loans that I am paying for plus monies owed to a brother of mine.I recently got married and my husband and I took out a joint loan to start life. However, he went...

Lawmakers and the complexities of the insurance market

May 24, 2015 - 12:00am
READER: I have worked in the insurance industry for about five years. It is my impression that in your zeal to help persons with claims problems, you end up unfairly criticising insurance companies and brokers who, in general, are doing a good job...

How to make civil servants attractive to the private sector

May 24, 2015 - 12:00am
Can workers who have become accustomed to low standards be trained to achieve otherwise? The debate is currently raging in Trinidad and probably will arrive before long in Jamaica.One of my first summer jobs involved working on a project in a...