Jamaica Business News

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Updated: 3 hours 11 min ago

Jamaica Stock Exchange delays listing of US proxy stocks

April 29, 2016 - 12:00am
The Jamaica Stock Exchange (JSE) wants more time to sort out technical and legal issues prior to potentially raising billions of dollars with proxy listings of foreign...

Lasco Distributors shareholders to get small piece of drug settlement

April 29, 2016 - 12:00am
Shareholders of Lasco Distributors Limited will receive a small cut of the "large" settlement expected from its legal case with Pzifer, according to...

KPREIT to buy back its shares

April 29, 2016 - 12:00am
Kingston Properties Limited, which trades under the symbol KPREIT, will reacquire up to one per cent of its issued shares over a two-year span. The company currently considers its shares undervalued.The buy-back...

Walter Molano | Demise of the Latin left may be exaggerated

April 29, 2016 - 12:00am
Pundits are proclaiming the death of the political left across Latin America.The presidential election of Mauricio Macri, the right-wing mayor of Buenos Aires, and the ongoing impeachment proceedings...

NHT self-employed contributions climb above $1b

April 29, 2016 - 12:00am
The contributions of self-employed persons to the National Housing Trust have climbed above the billion-dollar mark, having risen steadily over the last five years, but still trails way behind payments...

IMF: Regional economies to contract 0.5%

April 29, 2016 - 12:00am
Latin America and the Caribbean (LAC) will post an overall 0.5 per cent economic contraction in 2016, the International Monetary Fund (IMF) forecast in a report issued on Wednesday, capping the region's worst...

US growth slows to 0.5% in first quarter

April 29, 2016 - 12:00am
The United States economy inched forward at the weakest pace in two years from January through March, as consumer spending growth slowed, business investment plunged and exports declined further.The gross...

VW to spend up to US$8.8 billion on diesel buy-backs, fixes

April 29, 2016 - 12:00am
Volkswagen said on Thursday it had set aside €7.8 billion (US$8.8 billion) to buy back or fix diesel-powered cars that had been rigged to cheat in emissions tests.The sum is part of the...

Yahoo reshuffles board in truce with rebellious shareholder

April 29, 2016 - 12:00am
Yahoo has reached a truce with an activist investor threatening to oust CEO Marissa Mayer and the rest of its board, removing a major distraction as the company evaluates bids to buy its...

What major central banks are up to, at a glance

April 29, 2016 - 12:00am
When the Federal Reserve left its key interest rate steady on Wednesday, it offered no clues to when it might act again, yet made clear that it's edging towards raising rates again eventually.That...

Interview may cost lawyer job as Brazil justice minister

April 28, 2016 - 12:00am
A lawyer being considered as Brazil's next justice minister may have lost his appointment because of an interview he gave.The office of Vice-President Michel Temer, in line to become Brazil's chief of state if President Dilma Rousseff is impeached,...

Uganda hopes for oil production by 2018 after pipeline deal

April 27, 2016 - 12:02am
Uganda's hopes to produce crude oil by 2018 have been boosted by an agreement to build a pipeline to Tanzania's Tanga port, a government official said Tuesday.The agreement with Tanzania comes after months of uncertainty over which route the...

IDB upgrades trade information portal

April 27, 2016 - 12:02am
The Inter-American Development Bank (IDB) on Monday has developed a new version of INTrade, an interactive information system that allows for detailed analysis of trade and integration in Latin America and the Caribbean (LAC).INTrade is a free...

BP earnings slide as low oil prices take their toll

April 27, 2016 - 12:02am
Cost-cutting and a solid performance from the refining and marketing arm helped British energy producer BP Plc cushion the hit from low oil prices in the first quarter.Though the company reported a 79 per cent slide in earnings, its share price...

JPPC squeezes more electricity out of fuel, but losses worsen

April 27, 2016 - 12:00am
Jamaica Private Power Company (JPPC) saw its loss position double in 2015.Its parent, Kenon Holdings, reported US$2 million ($234 million) net loss for last year compared with US$1 million the year before.The private power producer, which sells...

Creditinfo localises credit scoring - New model accounts for high credit card usage

April 27, 2016 - 12:00am
Creditinfo Jamaica, one of a handful of private companies offering credit bureau services, will start producing credit scores that are more localised to reflect realities in Jamaica and be a better predictor of credit approval and default.Creditinfo...

Caribbean Cement concretises domestic market, earnings triple

April 27, 2016 - 12:00am
Caribbean Cement Company more than tripled its profit in the first quarter of 2016, setting a new earnings record.The $830 million net income for the three-month period by far improved on the $250 million posted for the comparative quarter in 2015,...

World Bank raises 2016 oil price forecast

April 27, 2016 - 12:00am
Amid improving market sentiment and a weakening dollar, the World Bank is raising its 2016 forecast for crude oil prices to $41 per barrel from $37 per barrel in its latest April 2016 Commodity Markets Outlook, as an oversupply in markets is...

JPPC squeezes more electricity out of fuel, but losses worsen

April 27, 2016 - 12:00am
Jamaica Private Power Company (JPPC) saw its loss position double in 2015.Its parent, Kenon Holdings, reported US$2 million ($234 million) net loss for last year compared with US$1 million the year before.The private power producer, which sells...

UHWI goes digital

April 27, 2016 - 12:00am
The University Hospital of the West Indies (UHWI) will convert to an electronic hospital management system come May 1, under a US$1-million investment.The project is being handled by Jamaican IT company Advanced Integrated Systems (AIS) and its...