Jamaica Business News

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Updated: 2 hours 55 min ago

Celebration scores $5b land deal for casino resort

July 29, 2016 - 12:00am
A deal with the Urban Development Corporation (UDC) appears to have put Celebration Jamaica in a position to press ahead with its casino resort project, which is attempting to regain footing after...

FSC seen as falling down on the job

July 29, 2016 - 12:00am
A disheartened top pension lawyer Angela Fowler expressed disappointment that the Financial Services Commission (FSC) continues to delay, for nine months and counting, a '...

Hawkeye places $31m bet on Trinidad

July 29, 2016 - 12:00am
Hawkeye places $31m bet on TrinidadNeville GrahamBusiness ReporterNumber two security outfit Hawkeye has started to expand operations into the Caribbean with the opening of its first overseas office in Trinidad, on which it has spent $31 million....

ICD takes a stake in Amber Connect

July 29, 2016 - 12:00am
Jamaican conglomerate ICD Group Holdings has taken a minority stake in Amber Connect Limited, a provider of vehicle tracking and security solutions for both consumers and large...

Proven has investments lined up but searching for more

July 29, 2016 - 12:00am
Investment outfit Proven plans to inject a minimum of US$15 million in three regional private equity deals this financial year.The company also said it...

Lasco Distributors grows its bottom line and balance sheet

July 29, 2016 - 12:00am
The ongoing plant expansion at Lasco Distributors resulted in the value of its plant and office space increasing some 50 per cent beyond the $1 billion...

MasterCard profit and sales top estimates

July 29, 2016 - 12:00am
MasterCard stock rose on Thursday after the credit and debit card payment processor posted stronger results than analysts expected.MasterCard said its net income edged up to US$983 million, or 89 cents per...

Facebook user numbers grow, beats expectations

July 29, 2016 - 12:00am
The world's biggest social media company handily surpassed Wall Street's expectations for the second quarter, barrelling ahead on mobile advertisements, user growth, and the next frontier - video....

US fines Chile-based airline LATAM over bribes

July 29, 2016 - 12:00am
Latin America?s largest airline has agreed to some US$22 million in civil and criminal fines in connection with a scheme to pay bribes to end a labour strike in Argentina a decade ago, United States...

Conflict over Exxon climate probe

July 29, 2016 - 12:00am
The chairman of the House Science Committee in the United States Congress threatened further action Wednesday after the New York and Massachusetts attorneys general refused to comply with congressional subpoenas...

Fed's more upbeat tone suggests rate hike sometime this year

July 29, 2016 - 12:00am
The Federal Reserve said on Wednesday that near-term risks to the United States economy have diminished, reviving the prospect that it will resume raising interest rates as soon as...

Democratic donors rip Trump for failure to share tax returns

July 29, 2016 - 12:00am
The wealthy Democratic donors, many of whom run complex businesses, know firsthand how revealing tax returns can be. Perhaps that?s why they can?t stop talking about Republican nominee...

Walter Molano | Brexit: A post-mortem

July 29, 2016 - 12:00am
Only a few years ago, Grexit was one of the main topics of discussion.In the end, Greece remained in the European Union, but Great Britain did not. As one of the largest contributors to the EU budget, its departure will be...

SABMiller suspends work on beer merger

July 29, 2016 - 12:00am
SABMiller has suspended work on integrating its operations with those of Anheuser-Busch InBev while it reviews AB InBev's sweetened bid, raising concern about completion of the pound79 billion (US$104 billion)...

Dominica defends citizenship programme as boost to economy

July 28, 2016 - 12:00am
The Dominica government defended its decision to introduce a Citizenship by Investment Programme (CIP), saying that it had contributed significantly to the socio-economic development of the island.Both President Charles Savarin and Prime Minister...

Antigua makes new moves to collect on WTO gambling ruling

July 27, 2016 - 12:00am
The Antigua...

Tax plan sends confidence soaring - Latest consumer confidence survey defies trend

July 27, 2016 - 12:00am
The prospects for the economy are at record levels, according to the latest surveys of business and consumer confidence released on Tuesday.Don Anderson, the head of the firm that conducts the surveys, said consumer confidence remains high due in...

Caribbean Cement revenues up but restructuring costs cut earnings

July 27, 2016 - 12:00am
Over $800 million in staff severance costs and inventory write-downs hurt the June quarterly earnings of Caribbean Cement Company Limited, a local producer of the commodity.The group earned net profit of $220 million on revenues of $4.3 billion for...

J'can economy seen as moving closer to dollarisation

July 27, 2016 - 12:00am
An increasing trend for Jamaicans to make deposits in United States dollars in commercial banks as well as non-bank financial institutions is a sign of the dollarisation of the local economy, according to co-chair of the Economic Programme Oversight...