Jamaica Business News

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Updated: 26 min 15 sec ago

Porsches parade through Kingston with police escort

December 7, 2016 - 12:00am
Motorists on Sunday were taken aback when a line of Porches swept through the capital with police escort.Social media lit up with complaints - and colourful language - about what was perceived to be special treatment for luxury cars that only the...

SAC spins off R&D division, adds foreign members to new outfit

December 7, 2016 - 12:00am
The Sugar Association of the Caribbean (SAC) has spun off its research and development arm, the West Indies Central Sugar Cane Breeding Station (WICSCBS), into a separate legal entity and has broadened its membership in a bid to shore up funding....

Pulse to fund real estate project from rights issue

December 7, 2016 - 12:00am
Modeling agency and entertainment company Pulse Investments Limited kicked off its latest real estate project with financing from an outfit connected to its founder.But the company now says it will raise additional funds for the project from its...

Digicel Group earnings hit by currency movements

December 7, 2016 - 12:00am
Digicel Group reported a marginal dip in revenue and earnings in its September second quarter, due in part to currency fluctuations in key markets, according to an investor release from UK bank Barclays.Revenue for the telecoms, which operates in 32...

UN body pushes for gender equality in J'can workplaces

December 7, 2016 - 12:00am
The United Nations Development Programme (UNDP) is hoping Jamaica will become the first Caribbean nation with companies that gain certification under the Gender Equality Seal Certification Programme (GESCP).Already launched in at 12 Latin American...

Trinidad, Venezuela sign gas supply pact

December 7, 2016 - 12:00am
Trinidad & Tobago and Venezuela signed an agreement Monday that will allow Caracas to supply the Caricom country with up to 500 million cubic feet per day of natural gas from its fields in the Mariscal Sucre region...

EU's Brexit negotiator puts time pressure on UK

December 7, 2016 - 12:00am
The United Kingdom may not have two years to negotiate its divorce from the European Union after all.The European Union's chief negotiator on Brexit warned Tuesday that the country will have less than 18 months once talks begin and that it won't be...

Boeing offered illegal tax breaks, say WTO

December 7, 2016 - 12:00am
United States plane maker Boeing received major illegal tax breaks from Washington state, the top trade body has ruled, adding that the federal government should now take action to end that support within months.The Chicago-based company and the...

Growth above 2% unlikely unless led by private sector

December 7, 2016 - 12:00am
The International Monetary Fund (IMF) has suggested that while the three-year standby agreement with Jamaica envisages a continuation of the ambitious reform agenda, bringing back growth to above two per cent is not likely to materialise without...

Greece gets short-term debt relief from eurozone

December 6, 2016 - 12:00am
Greece won some short-term debt relief from European creditors on Monday, even though it failed to clear the latest hurdle in its bailout programme that has prevented the country going bankrupt and crashing out of the euro.At a meeting of the 19...

Cemex subsidiary to bid for majority ownership of Carib Cement parent

December 5, 2016 - 1:55pm
Mexican-based CEMEX today announced that one of its indirect subsidiaries, Sierra Trading, will present an offer and take-over bid to all shareholders of Trinidad Cement Limited (TCL). Sierra wants to acquire up to 132.6 million ordinary shares in...

'Pork for every home'

December 4, 2016 - 12:00am
Caribbean Broilers (CB) Group wants a bigger slice of the pork market and has set an ambitious target of getting a ham in "every home" this Christmas - or at the very least a good chunk of them - and to make pork and pork products a breakfast staple...

Jamaicans use electricity inefficiently, says JPS boss

December 4, 2016 - 12:00am
Jamaica's growth remains constrained by its inefficient usage of energy, which equates to one of the worst in Latin America and the Caribbean, says Kelly Tomblin, president...

Insurance Helpline | SMEs need cushion to soften business risk

December 4, 2016 - 12:00am
QUESTION: I am the owner of a St Thomas-based small business. We use farm products grown nearby to manufacture and distribute sauces, salad dressings, seasonings and food flavourings. Consumer feedback has been very positive. Four persons are...

Francis Wade | Avoiding costly responses to RFPs

December 4, 2016 - 12:00am
A juicy request for proposal (RFP) could be a dream or a nightmare.As a business owner, how can you tip the scales in your favour so that you end up winning a higher percentage of better opportunities?It comes as a pleasant surprise. A casual scan of...

David Jessop | New uncertainties ahead for Cuba

December 4, 2016 - 12:00am
On November 28, the United States' President-elect Donald Trump said, "If Cuba is unwilling to make a better deal for the Cuban people, the Cuban-American people and the US as a whole, I will terminate deal."His tweet, which used language seemingly...

Binge watching on Netflix no longer requires internet access

December 4, 2016 - 12:00am
Netflix subscribers can now binge on many of their favorite shows and movies even when they don't have an internet connection.The long-awaited offline option announced Wednesday gives Netflix's 87 million subscribers offline access to videos for the...

Mercosur suspends Venezuela for failure to follow rules

December 4, 2016 - 12:00am
South American nations suspended Venezuela on Friday from the Mercosur trade group over what they said was its failure to comply with the commitments made when it joined the group in 2012.Argentina's foreign ministry said in a statement that...

Personal Financial Adviser | Looking for an investment mentor

December 4, 2016 - 12:00am
QUESTION: I have been looking for a mentor in Jamaica to educate or guide me in investing, but all the financial advisers and people I spoke to in regards to investing were seeking to promote their respective company's products. That would not be...

Business groups partner on export drive

December 2, 2016 - 12:00am
Two business groups have signed a pact with state-operated agencies that is meant to double exports to US$2.5 billion within four years.The Jamaica Exporters' Association (JEA), the...