Mon | Oct 14, 2019

Stories by Avia Collinder - Business Reporter

Published:Friday | September 6, 2019 | 12:27 AMAvia Collinder - Business Reporter

Ibex Jamaica is adding 700 jobs through its new call centre in New Kingston, but intends to grow that number to about 1,000 by year end through further expansions in another parish, the choice of which is still to be finalised. The Ibex New...

Published:Friday | September 6, 2019 | 12:06 AMAvia Collinder - Business Reporter

ATL Group is revamping its appliance division, which was the heart of the business at its founding, a project that will see the company investing at a similar level to the buildout pursued for its automobile division, says CEO Adam Stewart. The...

Published:Sunday | September 1, 2019 | 12:15 AMAvia Collinder - Business Reporter

There is a possibility that real estate ventures may see more funding from the $600 billion pension fund industry flowing their way. Recently passed pension amendments have tweaked restrictions on investment options related to the segment,...

Published:Friday | August 30, 2019 | 12:16 AMAvia Collinder - Business Reporter

Jamaica Cane Products Sales Limited, JCPS, is selling the Jamaica Gold brand under which it retailed sugar, one of the assets it is liquidating to pay off debt as the company winds up its operation. JCPS once had a monopoly over the marketing of...

Published:Friday | August 30, 2019 | 12:12 AMAvia Collinder - Business Reporter

The Coconut Board has acquired new harvesting equipment, called a tree climber, which it projects will cut the cost of reaping the crop by one-third. Those savings in dollar terms amount on average to $1,200 per tree, or $10 to $15 per coconut,...

Published:Friday | August 23, 2019 | 12:22 AMAvia Collinder - Business Reporter

Coffee processor Salada Foods Jamaica Limited has lined up a new specialty product for distribution in the United States as one measure to grow export earnings that currently contribute less than a fifth of revenue. The company also continues to...

Published:Friday | August 23, 2019 | 12:22 AMAvia Collinder - Business Reporter

The pace at which remittances have been flowing to Jamaica continues to slow, a trend the Bank of Jamaica (BOJ) says is linked, in part, to the tightening of Know Your Customer rules, which are affecting remittance companies that are required to...

Published:Friday | August 16, 2019 | 12:13 AMAvia Collinder - Business Reporter

So far, the intake of full-time American students under the agreement that the University of the West Indies, UWI, has with the federal government of the United States has been just two, who enrolled in the faculty of law in the past academic year...

Published:Sunday | August 11, 2019 | 12:24 AMAvia Collinder - Business Reporter

Donald Moore, senior general manager of construction and development at the National Housing Trust, NHT, says the redesign of the Ruthven Towers development has added at least two floors to each apartment block. The project, to be done in phases,...

Published:Sunday | August 11, 2019 | 12:23 AMAvia Collinder - Business Reporter

A window that was opened in the motor policy for the import of older vehicles has been shut after less than two years, but used-car dealers say it lived long enough to skew the market. The older eight-year-old autos coming into the market as a...

Published:Sunday | August 4, 2019 | 12:09 AMAvia Collinder - Business Reporter

Real estate experts say that signs are pointing to an imminent oversupply of high-end apartments and that developers should consider slowing down those projects. Instead, they are pushing for more affordable homes, that is, residences costing less...

Published:Friday | August 2, 2019 | 12:19 AMAvia Collinder - Business Reporter

Dolphin Cove, having triumphed in court against environmentalists and citizens of Discovery Bay who were trying to block its Puerto Seco Beach attraction in St Ann, is now looking to the south coast as the next site for a marine park, says Chairman...

Published:Friday | August 2, 2019 | 12:10 AMAvia Collinder - Business Reporter

Fund managers will soon have a wider pool of assets to pick from when investing pension savings, following the adoption of amendments to pension regulations by Parliament on July 23. The regulations still have to be approved by the Senate, but...

Published:Friday | July 26, 2019 | 12:28 AMAvia Collinder - Business Reporter

Jamaica Public Service Company, JPS, wants the regulatory authorities to pursue a wider range of hedging mechanisms beyond the options currently available, according to the power utility’s Chief Financial Officer, Vernon Douglas. The energy...

Published:Friday | July 26, 2019 | 12:27 AMAvia Collinder - Business Reporter

The value of the Jamaican dollar is at historic lows, but Finance Minister Nigel Clarke is bullish about its future prospects. Clarke said on Wednesday that the successful execution of an inflation-targeting regime should allow Jamaica, within five...

Published:Sunday | July 14, 2019 | 12:14 AMAvia Collinder - Business Reporter

Investment managers are detecting an increasing tolerance for risk among Jamaican investors and are designing products to feed that growing appetite. Unit trusts, which are considered relatively safe investments because the risk is pooled, have...

Published:Friday | June 7, 2019 | 12:27 AMAvia Collinder - Business Reporter

Even as members of the tobacco industry continue to warn the Government that existing regulations which mostly impact the legal trade will cut away at revenue earned by the State, the Ministry of Health and Wellness is planning to introduce new...

Published:Friday | June 7, 2019 | 12:26 AMAvia Collinder - Business Reporter

Andrew James, president of the Realtors Association of Jamaica, has indicated that property purchase and management contracts are on the increase, with overseas buyers looking for a return on investment, “especially short term rentals such as...

Published:Sunday | June 2, 2019 | 12:24 AMAvia Collinder - Business Reporter

Portland Private Equity has increased its holdings in Chukka Caribbean Adventures Limited, this time through a direct injection of equity under Portland Caribbean Fund II into the tour company founded by the Melville family. Chukka, which offers...

Published:Sunday | May 26, 2019 | 12:07 AMAvia Collinder - Business Reporter

Call centre operator Conduent Inc will be expanding its Jamaican operations, a plan that is expected to lead to around 2,000 new jobs by early 2020. The size of the investment was not disclosed, but it appears to be substantial. Robert Corbishley,...

Published:Friday | May 24, 2019 | 12:17 AMAvia Collinder - Business Reporter

Palace Amusement is returning to Portmore at a time when the community has matured into its own economic centre, says the cinema company’s marketing manager, Melanie Graham. The movie theatre that Palace operated there more than a decade was...

Published:Friday | May 24, 2019 | 12:13 AMAvia Collinder - Business Reporter

The relationship between tech park investor Valrie Grant and Sagicor Group Jamaica has soured, and now she is looking for new partners to follow through on the project that is partially formulated around women in the tech sector. Sagicor Bank...

Published:Friday | May 17, 2019 | 12:32 AMAvia Collinder - Business Reporter

The head of Jamaica’s largest insurance conglomerate and dominant provider of healthcare coverage wants clarity on how the plan for universal health insurance will affect persons already covered. That number spans about 500,000 people in a...

Published:Friday | May 17, 2019 | 12:30 AMAvia Collinder - Business Reporter

Three e-payment companies have been shortlisted by the Ministry of Labour and Social Security for the contract to begin distributing social welfare benefits via mobile wallets, under the Programme of Advancement Through Health and Education, PATH....

Published:Sunday | May 12, 2019 | 1:02 AMAvia Collinder - Business Reporter

The Coconut Industry Board’s commercial plan has got the green light from the Ministry of Industry, Commerce, Agriculture and Fisheries (MICAF), and talks have already been initiated with private players on joint venture partnerships. Coconut Board...

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