Jamaica Business News

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Updated: 15 hours 23 min ago

Chiquita to talk with potential Brazilian buyers

September 11, 2014 - 5:16pm
Not even a month after flatly rejecting a takeover bid by two Brazilian companies, Chiquita will open its books to them.

Access board battle today

September 10, 2014 - 4:15pm
Neville James, the father of the founder of Access Financial Services, will join the board of the microfinancing, and CEO Marcus James has nominated three others as directors in a move to reclaim control of the company's board.

Economy performing as expected - Byles

September 10, 2014 - 4:15pm
Jamaica surpassed the targets for the primary surplus and the Net International Reserves (NIR) during the period April to July 2014, co-chairman of the Economic Programme Oversight Committee (EPOC), Richard Byles, said on Monday.

New home mortgages rise as dollar declines

September 10, 2014 - 4:15pm
Local real estate experts are noting a rise in new residential construction as the local currency weakens against the United States dollar, but say there is a pass-through effect on the size of mortgages sought by prospective homebuyers.

Bag water sector blossoms

September 10, 2014 - 4:15pm
The local beverage market has seen the addition of a bagged water product which has spread to several parishes but the local regulatory body with oversight of the processed foods industry, Bureau of Standards Jamaica (BSJ), says the activity has not been approved.

Energy companies fight over Guyana oil

September 10, 2014 - 4:15pm
CGX Energy Inc, the Canadian oil and gas exploration company that holds three licences in the Guyana-Suriname Basin, says it has obtained an order from the Guyana court restraining Spanish-owned Repsol Exploracion SA from farming out the Kanuku petroleum prospecting licence.

TPDCo gets top grade, but NSWMA falters on accountability

September 10, 2014 - 4:15pm
Minister Noel Arscott, Minister of State Colin Fagan, Acting Permanent Secretary (PS) Dione Jennings, and Jennifer Edwards, executive director of the National Solid Waste Management Agency (NSWMA), have demonstrated little regard for accountability or the Access to Information Act.

GM says near-driverless cars to hit market in two years First at highway speed

September 10, 2014 - 4:15pm
Cars that can talk to each other and almost drive themselves at freeway speeds are just two years away from the showroom, according to General Motors executives.

UK wades into BP fight over US penalty

September 10, 2014 - 4:15pm
Britain has for the first time waded in to BP's legal battle over payouts for the Gulf of Mexico oil spill, saying US court rulings against the energy group raise "grave international comity concerns".

CLO surge prompts regulatory concerns

September 10, 2014 - 4:15pm
Sales of bonds backed by riskier US corporate loans have surged to their highest level in seven years, helping to fuel a leveraged lending boom that is concerning regulators.

Apple reveals larger iPhones and smartwatch

September 10, 2014 - 4:15pm
For the first time in years, Apple's iPhones weren't the star of the show.

Japan says economy contracted 7.1% in 2Q

September 9, 2014 - 2:51pm
Japan's economy shrank more sharply in the second quarter than first estimated, and the latest indicators suggest only a modest bounce back since then.

More Business In Brief

September 9, 2014 - 2:51pm
Chiquita is postponing a vote on its proposed merger with the Irish fruit seller Fyffes as it awaits a new bid from another potential buyer.

Alibaba seeks to raise up to US$24.3b in IPO record

September 9, 2014 - 2:51pm
China's Alibaba Group is seeking to raise up to us$24.3 billion in its upcoming IPO - an amount that would be the most raised by a company in a stock market debut.

Harvard prof headlines venture capital confab

September 9, 2014 - 12:54am
Venture Capital expert Josh Lerner, Harvard Business School professor of investment banking, and chair of the university's Entrepreneurial Management Unit, will be the keynote speaker at the Development Bank...

Mayberry advises clients about FATCA

September 9, 2014 - 12:54am
Mayberry Investments Ltd (MIL) is seeking to educate its clients about the recently introduced FATCA legislation.

Heavyweights for conference

September 9, 2014 - 12:54am
It's all systems go for tomorrow's Development Bank of Jamaica Venture Capital Conference 2014 at the Jamaica Conference Centre...

Residential market down but not out

September 7, 2014 - 11:08pm
Industry sources say that the sharp decline in mortgage volume seen in the June quarter, as reported by the Planning Institute of Jamaica (PIOJ), is unlikely to persist.

CWC pumping US$250m into LIME Jamaica

September 7, 2014 - 11:08pm
Cable and Wireless Communications Plc (CWC) is making a renewed effort to turn around the fortunes of subsidiary LIME Jamaica, with a planned investment of US$250 million in the network over the next three years.

KPREIT liquidates four condos, buys new building

September 7, 2014 - 11:08pm
Kingston Properties Limited (KPREIT) has now sold four residential condominiums in Miami valued at approximately US$980,000 as it seeks to finance the purchase of another set of apartments in that same United States (US) city.