Jamaica Business News

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Updated: 4 hours 38 min ago

Kingston Wharves banks on expanded Panama Canal

June 24, 2016 - 12:00am
With the opening of the expanded Panama Canal, Kingston Wharves hopes to improve prospects for its port in handling growing supplies of manufactured goods...

Panama Canal to open amid shipping downturn

June 24, 2016 - 12:00am
The expanded Panama Canal, a US$5.25-billion project, is set to open Sunday at a difficult moment for the international commercial shipping market.The drop in world oil prices, an economic slowdown in China...

Indicted John Ashe died from barbell injury

June 24, 2016 - 12:00am
A former president of the United Nations (UN) General Assembly awaiting trial in a bribery scandal died in a weightlifting accident when a barbell he was lifting from a bench dropped on his neck, an autopsy...

Boeing reports historic sales pact with IranAir

June 24, 2016 - 12:00am
Boeing Company said it signed an agreement with IranAir "expressing the airline's intent" to buy its aircraft, setting up the biggest business deal between the Islamic Republic and America since the...

World Trade Center skyscrapers: Three up, one to go

June 24, 2016 - 12:00am
The World Trade Center's newest, US$2.5-billion skyscraper reached its full 80 stories Thursday - one of three high-rises now up at the site, with one more to go.Almost 15 years after the twin...

Odds favour 'remain' on eve of Brexit vote

June 23, 2016 - 12:00am
The betting markets solidly stood by the 'remain' side. The Betfair exchange said on Wednesday 'remain' is now at 76 per cent probability.Some 80 per cent of the £1 million placed during and after a BBC debate on Tuesday was on 'remain', the...

Portland JSX share offer oversubscribed

June 22, 2016 - 7:06pm
The initial public offering of shares in Portland JSX Limited has been oversubscribed. The offer to raise $1.23 billion opened June 8 and closed June 22. The stock is expected to list on the Jamaican market in coming weeks. “We are still...

Mount Pleasant chocolate maker adds equipment, preps for export

June 22, 2016 - 12:02am
Chocolatiers Hellen and Averell French of Mount Pleasant Farm expect to boost production by 75 per cent with new equipment commissioned at the end of May...

JPS looks to raise US$200m in Jamaica

June 22, 2016 - 12:00am
Power utility Jamaica Public Service Company (JPS) will seek to raise US$201 million in the local market in what its chief financial officer, Dan Theoc, is describing as the largest offer of its kind in Jamaica.The offer, likely to be structured...

Hotel projects valued at US$550m set for roll out

June 22, 2016 - 12:00am
More than US$550 million of investments in hotel projects are rolling out this year and the next, according to the annual market filing by the Ministry of Finance released this week.The spend spanning 10 projects does not incorporate the casino...

AIS mulls national roll-out of hospital records project

June 22, 2016 - 12:00am
Tech company Advanced Integrated Systems (AIS) is hoping to tap government and private sector clientele for its new electronic hospital management system, which it wants to roll out nationally.The National Patient Information System (NPIS) will...

IMF predicts decline of Trinidad economy

June 22, 2016 - 12:00am
The International Monetary Fund (IMF) says Trinidad and Tobago's output has continued to shrink while declines in global energy prices are leading to surging fiscal deficits and are pushing the external current account of the oil-rich twin-island...

US clears small, commercial drones for take-off

June 22, 2016 - 12:00am
Routine commercial use of small drones was cleared for take-off by the Obama administration Tuesday, after years of struggling to write rules that would both protect public safety and free the benefits of a new technology.The Federal Aviation...

Cameron warns EU exit 'irreversible'

June 22, 2016 - 12:00am
United Kingdom Prime Minister David Cameron appealed directly to older Britons considering voting to leave the European Union, urging them on Tuesday to think about the hopes and dreams of their children and grandchildren in casting their ballots....

Nobody wants needless austerity - IMF

June 22, 2016 - 12:00am
The International Monetary Fund (IMF) favours fiscal policies that support growth and equality over the long term, and this should not be misconstrued as being for or against economic austerity measures."Governments simply have to live within their...

Puerto Rico hit with lawsuit as key debt negotiations stall

June 21, 2016 - 11:06pm
A group of bondholders are suing Puerto Rico's government as debt negotiations fall apart less than two weeks ahead of what would be the largest default in the island's history.The suit filed Tuesday by holders of general obligation bonds seeks to...

Bahamas to trade Chinese currency

June 21, 2016 - 12:00am
The Bahamas has been earmarked as a hub to trade the Chinese currency, according to Minister of Financial Services Hope Strachan, who announced the initiative as one of several in the pipeline."In recent times, the government of The Bahamas has...

Francis Wade | Customer service must be more than personal service, Part 2

June 19, 2016 - 12:10am
In my last column two weeks ago, I argued that customer-facing employees in the Caribbean habitually place their personal feelings ahead of professional service. The result is a wide and disturbing variation in customer experience that confounds...

J'cans tap gay online rental market - Misterb&b seen as opportunity to diversify income

June 19, 2016 - 12:00am
As Jamaicans tap into the online rental market for business through platforms such as Airbnb they are slowly becoming more amenable to a side of the market that is largely shunned domestically gay travellers.Some landlords and property owners are...

Mystic Mountain plans three new locations in Jamaica, St Maarten

June 19, 2016 - 12:00am
Mystic Mountain is about to venture beyond its home in Ocho Rios, with plans to go regional and add two new venues in Jamaica, one of which is planned for Falmouth and another near its home base in St Ann.While negotiations are still ongoing with...