Jamaica Business News

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Updated: 6 hours 54 min ago

David Jessop | The gap between rhetoric and reality

May 22, 2016 - 12:00am
As each day passes, the internal situation in Venezuela deteriorates.Rumours of military coups and unstoppable violence swirl; street protests escalate; ordinary citizens suffer shortages of medicine, everyday foodstuffs, and almost everything else...

Bayer takeover of Monsanto would create global giant

May 22, 2016 - 12:00am
Bayer's potential acquisition of Monsanto would create a giant seed and farm chemical company with a strong footprint in the United States, Europe and Asia, combining two businesses with complementary geographical focus.But Bayer might have to shed...

Jamaica Producers increases investment in Newport West

May 20, 2016 - 12:00am
Food and logistics conglomerate Jamaica Producers Group (JP) increased its stake in lands by Newport West in Kingston through a deal that nearly tripled its...

Portland JSX coming to market with IPO

May 20, 2016 - 12:00am
The initial public offer for shares in Portland JSX, a special-purpose vehicle created by Portland Private Equity, is due to launch on May 31, the Financial Gleaner has...

Car imports spike, Kingston Wharves gears up for more business

May 20, 2016 - 12:00am
Kingston Wharves Limited benefited in the first quarter from a double-digit rise in motor vehicles passing through its port, and expects the trajectory to be maintained for the remainder...

Dolphin Cove readies marine parks for more traffic

May 20, 2016 - 12:00am
Marine attraction Dolphin Cove spent $130 million to upgrade its facilities in the first quarter, during which its bottom line also expanded.The marine park operators are anticipating even more...

Rice substitution project, reaping equipment idled by lack of interest

May 20, 2016 - 12:00am
A plan to help satisfy Jamaica's appetite for rice from local production is in limbo with equipment and facilities lying idle for nearly six years....

Guyana rice exports on the rise

May 20, 2016 - 12:00am
Guyana exported 93,582 tonnes of rice in the first quarter of this year or six per cent more than the comparative period in 2015, says Agriculture Minister Noel Holder. Then, export volumes totalled 88,286 tonnes....

Clearing house transactions reduced to $1m

May 20, 2016 - 12:00am
The Bank of Jamaica reduced the value of transactions processed through the Automated Clearing House (ACH) from $2 million to a maximum of $1 million, marking the...

OUR won’t allow Bogue delay to lead to higher light bills

May 20, 2016 - 12:00am
The Office of Utilities Regulation (OUR) says it will ensure that power utility Jamaica Public Service Company does not increase bills to consumers based on the delay in the delivery of...

Exporters strike deal with Creditinfo for credit information

May 20, 2016 - 12:00am
The Jamaica Exporters' Association (JEA) has reached an agreement with credit bureau Creditinfo Jamaica, allowing its members and their employees to access the credit history of clients and others with whom they do...

Christian Stokes | Princes, taxes and ethical leadership

May 20, 2016 - 12:00am
Niccolo Machiavelli is considered the founder of political science. His seminal work, The Prince, was first published in 1532. It is an elegant didactic on politics which focused on how new princes may acquire...

Damien King | Jamaica on the way to fairer tax system

May 20, 2016 - 12:00am
Minister of Finance Audley Shaw, in his Budget presentation last week, promulgated a shift of the tax burden from income taxes to taxes on consumption, primarily on petrol and international travel.This signals a...

Walter Molano | Argentina in need of a game plan, better message

May 20, 2016 - 12:00am
After 15 years of rampant populism and kleptocracy, Argentina elected a government that offered a new direction.President Mauricio Macri assembled a dream team of Argentine bankers who immediately...

CDB president pleads for business-friendly reforms to drive growth

May 20, 2016 - 12:00am
President of the Caribbean Development Bank (CDB), Dr William Warren Smith, says a competitive and resilient private sector-driven economy could position the region and its people to...

Rescue deal for Puerto Rico

May 20, 2016 - 12:00am
House Republicans and Democrats reached a rare, election-year deal with the White House to try to rescue Puerto Rico from US$70 billion in debt as millions of Americans in the cash-strapped United States territory struggle...

Apple to open app development centre in India

May 20, 2016 - 12:00am
Apple will set up an app design and development centre in southern India, the company announced on Wednesday, shortly after its CEO, Tim Cook, arrived in the country on his first visit.Tens of thousands...

Golfer Phil Mickelson to forfeit nearly US$1m in SEC case

May 20, 2016 - 12:00am
Phil Mickelson has agreed to forfeit nearly US$1 million that authorities say was unfairly earned on a stock tip from a professional gambler, part of an insider trading probe that resulted in...

Cayman, Saudi Arabia big US treasury debt holders

May 19, 2016 - 12:00am
Foreign holdings of US treasury securities rose in March, with the United States Treasury Department revealing for the first time in four decades how much Saudi Arabia owns.In its latest report, the Treasury Department said Monday that total...

Courtyard Kingston turns a profit in first quarter of operation

May 18, 2016 - 12:56am
The owners of Courtyard by Marriott in Kingston revealed that the hotel made money in its first quarter of operations, but held back on the profit it generated. The hotel officially opened for business last December to face-off with established...