Wed | Sep 23, 2020

Stories by Karena Bennett/Business Reporter

Published:Wednesday | September 23, 2020 | 12:14 AMKarena Bennett/Business Reporter

Salada Foods Jamaica will know next month whether it must change its formulation to accommodate new quota rules for Jamaican beans in its coffee blends, or whether it is its regulator that will be dragged back into line by the Supreme Court. The...

Published:Wednesday | September 9, 2020 | 12:09 AMKarena Bennett/Business Reporter

Poultry producer Jamaica Broilers Group is back to production levels of near 90 per cent and has cleared higher-than-usual inventory levels following a loosening in COVID-19 restrictions between June and August, but there are concerns that the...

Published:Wednesday | September 2, 2020 | 12:37 AMKarena Bennett/Business Reporter

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Published:Wednesday | September 2, 2020 | 12:36 AMKarena Bennett/Business Reporter

Tuesday, September 1, should have seen Salada changing the formulation of its instant coffee to include 30 per cent Jamaican beans, up from the 10 per cent that its products now incorporate. Instead, the company has turned to the courts for an...

Published:Wednesday | August 26, 2020 | 12:27 AMKarena Bennett/Business Reporter

Derrimon Trading Company plans to approach the market with an additional share offer, or APO, the first junior market company to join others on the main exchange seeking to raise fresh capital through new share issues, assuming shareholders vote...

Published:Wednesday | August 12, 2020 | 12:42 AMKarena Bennett/Business Reporter

Banking institutions with deposits protected under the Jamaica Deposit Insurance Corporation (JDIC) will not face a premium hike despite the lifting of the limit on protected deposits from $600,000 to $1.2 million. The JDIC currently has 11...

Published:Wednesday | August 5, 2020 | 12:24 AMKarena Bennett/Business Reporter

Mapco Printers, a company that has operated in Jamaica for 34 years and holds a tenth of the market, has struck a deal that will see the outsourcing of its print productions to competitor Lithographic Printers. The production partnership falls...

Published:Wednesday | July 29, 2020 | 12:24 AMKarena Bennett/Business Reporter

A digital transformation programme started by the GraceKennedy conglomerate three years ago has been elevated within the group as a strategic priority. Not only has GK set up a Digital Transformation Steering Committee, chaired by Group CEO Don...

Published:Wednesday | July 8, 2020 | 12:12 AMKarena Bennett/Business Reporter

A plan put forward by CEO Zachary Harding for SSL Growth Equity Limited, which trades as SSL Group, to create a private equity subsidiary is now off the table. Instead, SSL Group has announced the formation of a legally separate entity, Delta...

Published:Wednesday | July 1, 2020 | 12:09 AMKarena Bennett/Business Reporter

A recent hike in prices by Jamaica’s sugar producers and marketers has not found favour with the Sugar Industry Authority, SIA, which views the decision as tone-deaf, coming as it is in the middle of a pandemic and a slew of job losses. The 9.2 per...

Published:Wednesday | June 3, 2020 | 12:15 AMKarena Bennett/Business Reporter

Big poultry companies Jamaica Broilers Group and Caribbean Broilers say they are likely to still be holding record-high inventory of chickens for the next six months. That might have been good news in normal times for a country that favours poultry...

Published:Wednesday | May 20, 2020 | 12:29 AMKarena Bennett/Business Reporter

Red Stripe Jamaica and Pepsi Jamaica will be giving away 6,000 cases of beverages, a move that serves not only to give the sellers of liquor the stock to bring back life to their businesses, but also positions the brewery to ramp up sales as...

Published:Wednesday | May 20, 2020 | 12:28 AMKarena Bennett/Business Reporter

Hard hit by the slowdown in the economy, and with some in the sector facing bankruptcy, microlenders are seeking a lifeline from Government in the form of $8 billion of cheap credit. Blossom O’Meally-Nelson, chairman of the Jamaica Association for...

Published:Wednesday | April 29, 2020 | 12:18 AMKarena Bennett/Business Reporter

AFTER THREE years of trying to woo Cayman Islands with its line of cleaning agents, Pioneer Manufacturing Distribution Company sent off its second shipment of Chloro-Do bleach to that country on Monday, a trading window it said was opened up due,...

Published:Friday | April 17, 2020 | 12:20 AMKarena Bennett/Business Reporter

Jamaica’s employed labour force grew three per cent to 1,269,100 for the month of January, according to the latest data from the Statistical Institute of Jamaica (STATIN). The largest increase in employment was recorded in the occupation group ‘...

Published:Wednesday | April 15, 2020 | 12:28 AMKarena Bennett/Business Reporter

JMMB Fund Managers Limited, JMMBFM, has struck a deal with four-year-old company Wise Construction to develop luxury homes, marking its entry into the residential real estate market as a minority partner. The housing project is earmarked for a one-...

Published:Wednesday | April 1, 2020 | 12:26 AMKarena Bennett/Business Reporter

Courier company Mailpac has struck a new deal with long-time business partner PriceSmart Jamaica, through which the retailer’s shoppers can buy through its online platform and have their orders delivered nationwide. The arrangement between them is...

Published:Wednesday | March 25, 2020 | 12:21 AMKarena Bennett/Business Reporter

RETAILER PRICESMART on Monday received approvals from the National Environment...

Published:Wednesday | March 18, 2020 | 12:25 AMKarena Bennett/Business Reporter

The shortage of raw materials on the world market used to manufacture sanitation products has forced local manufacturer to slash its customer list for cleaning agents and limit sales to individuals. Such action is meant to address what is now...

Published:Wednesday | March 11, 2020 | 12:19 AMKarena Bennett/Business Reporter

KLE Group, operator of the Usain Bolt Tracks and Records restaurants, is looking to a mix of fresh capital and new partnerships to fuel its growth plans. The company is pushing ahead with plans to grow UBTR internationally, notwithstanding its...

Published:Wednesday | March 4, 2020 | 12:23 AMKarena Bennett/Business Reporter

GraceKennedy has hit and surpassed its revenue target of $100 billion, a goal that was initially aligned with its centenary. The company closed its 2019 financial year with a top-line gain of nearly six per cent across its financial and food...

Published:Wednesday | February 26, 2020 | 12:12 AMKarena Bennett/Business Reporter

Future Energy Source Company, Fesco, will need another two weeks to determine a new date for its initial public offering of shares on the stock market, says vice chairman Hugh Coore, a setback caused by a deadly weekend fire at one of the fuel...

Published:Wednesday | February 12, 2020 | 12:00 AMKarena Bennett/Business Reporter

The new owners of Sweet River Abattoir hope to turn around the loss-making operation through additions to the product range, meat outlets and new markets in the region. Sweet River, which has struggled to generate big revenues and and deliver...

Published:Wednesday | February 5, 2020 | 3:43 PMKarena Bennett/Business Reporter

Canadian company Green Stripe Naturals has pumped roughly US$1.5 million in the acquisition of a 49 per cent stake in local marijuana company Green Peak Growers and the build-out of a 20-acre cannabis farm in Toll Gate, Clarendon. Green Stripe,...

Published:Wednesday | February 5, 2020 | 12:19 AMKarena Bennett/Business Reporter

GraceKennedy Limited is exploring the ­expansion of the Hi-Lo supermarket chain through a mix of express stores and its traditional retail outlets. Group CEO Don Wehby told the Financial Gleaner that the company is currently in discussion with a...

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