Jamaica Business News

Syndicate content
Updated: 6 hours 34 min ago

Feb 5: JSE stocks pummeled, drops 3,100 points

February 5, 2016 - 6:51pm
Jamaican stocks were pummeled on Friday, shedding 3,107 points or 1.76 per cent. The market closed the week at 173,031.91 points, after three straight days of record gains for the Combined Index of the Jamaica Stock Exchange. The index rose as...

Bogdanovich in the market for hotel; buys majority stake in Hardware & Lumber

February 5, 2016 - 12:00am
Downsound Records CEO Joe Bogdanovich is bullish on investment in Jamaica.The long-time partner in dancehall calendar event...  

Ganja market to take shape starting March

February 5, 2016 - 12:00am
Industry Minister Anthony Hylton has signalled to prospective ganja investors that interim regulations to police the industry should be in place by March.It would pave the way...

Big banks offer best returns amid profit dip

February 5, 2016 - 12:00am
Investors in the big banks earned their largest returns from the two stocks last year at a time when the banks' annual profit fell, a review of their medium-term...

GraceKennedy rolls out wine division

February 5, 2016 - 12:00am
Around eight years ago, GraceKennedy quietly re-entered the wine distribution market after a decade-long hiatus, but now the company believes it's time to make more noise about it....

Access grows loan portfolio

February 5, 2016 - 12:00am
Access Financial grew its loans and maintained costs which led the microlender to post net profits of $435 million for the period ending December 2015 or 42 per cent higher year-on-year.Its return on average equity (ROE)...

Hotels even import ackee, states new demand study

February 5, 2016 - 12:00am
Tourists are served imported ackee which arguably represents the starkest instance of the need for increased linkages between the tourism sector and local...

COMMENTARY | Oil hedge was a good decision

February 5, 2016 - 12:00am
On Monday, February 1, 2016, the Private Sector Organisation of Jamaica issued a statement in continued support of Jamaica's oil hedge purchase. This is the statement in full.The Private Sector Organisation...

Walter Molano | Peru: Close to starboard

February 5, 2016 - 12:00am
While this year could be challenging for Peru, it could also be an opportunity for investors. A combination of El Nino, presidential elections and the collapse of commodity prices foretold of...

Eurozone economy 'losing steam' amid market turmoil

February 5, 2016 - 12:00am
The economic recovery in the 19-country Eurozone lost steam in January, a closely watched survey found Wednesday, a sign that the turmoil in global financial markets is beginning to weigh on...

Bank of England keeps rates steady, cuts growth forecast

February 5, 2016 - 12:00am
Bank of England cuts growth forecastThe Bank of England voted to keep interest rates at their record low of 0.5 per cent on Thursday and cut its forecasts as a slowdown in global growth and market volatility cast uncertainty over the country's...

Automakers to recall 5m vehicles for another air bag problem

February 5, 2016 - 12:00am
Automakers to recall 5m vehicles for another airbag problemAnother problem has developed with automotive airbags, this one resulting in recalls of up to five million vehicles worldwide.Continental Automotive Systems says in documents filed with the...

Redstone replaced as Viacom chair

February 5, 2016 - 12:00am
Redstone replaced as Viacom chairAgeing media mogul Sumner Redstone stepped down as executive chairman of Viacom on Thursday and was replaced by CEO Philippe Dauman, a move that immediately disappointed investors.Although the decision mimicked a...

Private companies join Dairy Board’s push to revive milk consumption

February 4, 2016 - 11:59pm
The Dairy Development Board has got private sector buy-in for its latest drive to revive the industry under a new campaign dubbed ‘Drink Real Milk.’ Its three partners — Seprod, the CB Group through its Nutramix subsidiary, and...

Jamaican Teas to consider stock split, rights issue

February 4, 2016 - 11:02pm
Jamaican Teas to consider stock split, rights issueCamilo ThameSenior Business WriterJamaican Teas' directors will next Monday decide on resolutions calling for a stock split and a renounceable rights issue to be considered at the company's annual...

Feb 4: JSE stocks continue winning streak

February 4, 2016 - 6:03pm
Jamaican stocks extended its winning streak on Thursday. The Combined Index of the Jamaica Stock Exchange maintained its record-setting pace for a third day, closing up by 1,216 points or 0.70% at 176,138.88 points. More than five million units...

GM reports record profit, gets punished by the market

February 4, 2016 - 12:00am
If you're an automaker, especially one from Detroit, conditions probably aren't going to be better for you to make a lot of cash. For General Motors, that's what happened last year as the company posted a record US$9.7 billion net profit.A good...

Feb 3: JMD holds steady at $121.37

February 3, 2016 - 7:46pm
The Jamaica dollar traded unchanged at an average rate of $121.37 against the US dollar on Tuesday. But in a day of mixed fortunes for the local currency, the JMD lost value against the pound sterling, closing down 69 cents at $173.21, while...

Feb 3: JSE stocks climb to fresh high for second day

February 3, 2016 - 7:31pm
The Combined Index of the Jamaica Stock Exchange maintained its record-setting pace for a second day, closing up by 984.41 points or 0.57 per cent at a new high of 174,922.90 points on Wednesday. Just over 636.5 million units traded valued at just...

Court denies cigar maker’s constitutional challenge of tobacco tax

February 3, 2016 - 4:10pm
*COVER STORY The case brought by a cigar maker, who argued that a tax on tobacco imported as raw material for the business amounted to a constitutional breach, was denied by the Supreme Court last month. The court ruled that the company — as...