Wed | Apr 8, 2020

Stories by Neville Graham - Business Reporter

Published:Sunday | March 22, 2020 | 12:31 AMNeville Graham - Business Reporter

Jamaica’s 25 credit unions will not host annual general meetings (AGMs) during the early stages of the coronavirus crisis, for which they would have needed permission from Registrar of Co-operatives Errol Gallimore. The registrar has taken a...

Published:Friday | March 20, 2020 | 12:21 AMNeville Graham - Business Reporter

B usiness continuity insurance will not cover Jamaican companies in the event of losses arising from the effects of the COVID-19 coronavirus. That’s the word from the general insurance sector, while businesses contemplate the likely fallout from...

Published:Sunday | March 15, 2020 | 12:12 AMNeville Graham - Business Reporter

Berger Paints Jamaica Limited is entering the retail market with a line of its own stores as the paint maker tries to claw back market share and rebuild profits. At one time, Berger was considered to have control of 80-90 per cent of the Jamaican...

Published:Thursday | February 27, 2020 | 2:27 PMNeville Graham - Business Reporter

Caribbean Producers Jamaica will report back to bondholders Friday on progress made in bringing its financial ratios back into compliance with debt covenants, in a follow up to a meeting held six months ago. CPJ Chairman and interim CEO Mark Hart...

Published:Sunday | February 23, 2020 | 12:14 AMNeville Graham - Business Reporter

Tech company Amber Group Limited has partnered with National Commercial Bank Jamaica Limited, NCB, on a new mobile wallet called Amber Pay It will be NCBJ’s second mobile payment system; the other being Quisk, which has been on the market for two...

Published:Friday | February 14, 2020 | 12:21 AMNeville Graham - Business Reporter

P aramount Trading (Jamaica) Limited has sealed a manufacturing and private labelling services agreement with local fuel marketer Future Energy Source Company Limited, Fesco, for its line of lubricants. The $216-million deal runs for three years...

Published:Friday | February 14, 2020 | 12:12 AMNeville Graham - Business Reporter

T wo name brand Jamaican companies, one a food and logistics conglomerate, another a financial group, are holding steadfast to their operations in the United Kingdom, UK, even as the uncertainty persists around trade in the post-Brexit era. The UK...

Published:Sunday | February 9, 2020 | 12:21 AMNeville Graham - Business Reporter

Seafood exporter B&D Trawling is reeling from the impact of the coronavirus on its Chinese market, and facing the prospect of having to lay off half of his 200 workers, the head of the company says...

Published:Friday | February 7, 2020 | 12:18 AMNeville Graham - Business Reporter

Jamaican Teas Limited, JAMT, stumbled to a first-quarter loss of $44 million, despite a 15 per cent improvement in sales. The group’s descent into red flowed from the performance of its spin-off investment company QWI Investments Limited, which...

Published:Friday | January 31, 2020 | 12:15 AMNeville Graham - Business Reporter

The number of accounts hosted at the Jamaica Central Securities Depository, JCSD, for stock market investors jumped by more than 48,000 or 30 per cent, largely driven by new market entrants. The numbers also topped 200,000 for the first time –...

Published:Friday | January 31, 2020 | 12:15 AMNeville Graham - Business Reporter

The large resort spanning 4,800 rooms to be developed by Karisma in St Ann will also feature a component for luxury residences. The US$1-billion hotel project being developed at Llandovery on Jamaica’s north coast will officially begin...

Published:Sunday | January 26, 2020 | 12:08 AMNeville Graham - Business Reporter

New suppliers are rushing in to fill the void left by the ban on styrofoam food containers, but the twin burdens of duties payable and ability to service clients consistently are acting as constraints on would-be suppliers. At least one supplier is...

Published:Friday | January 10, 2020 | 8:44 AMNeville Graham - Business Reporter

When the board of junior market beverage company Jamaican Teas Limited meets on January 14, the directors will consider two subjects: a possible increase in the authorised share capital of the company and a sub-division of the companies issued and...

Published:Sunday | January 5, 2020 | 12:20 AMNeville Graham - Business Reporter

Attorneys representing petroleum marketing company Petcom say they are headed to the courts in the aftermath of a large find of cooking gas cylinders belonging to the three largest distributors of liquid petroleum gas (LPG) or cooking gas. Sean...

Published:Sunday | December 15, 2019 | 12:15 AMNeville Graham - Business Reporter

Troubled airline Fly Jamaica is seeking protection from creditors as it tries to restructure and stay in business or explore other options, such as a sale. That filing for bankruptcy protection with the Office of Insolvency was done on October 29,...

Published:Friday | December 13, 2019 | 12:13 AMNeville Graham - Business Reporter

Less than five months after opening as the fourth cinema in the Palace Amusement chain, the early performance of Sunshine Palace has been clouded by security measures imposed to contain and deter crime. The 674-seat facility at the Sunshine Outlet...

Published:Friday | November 29, 2019 | 12:23 AMNeville Graham - Business Reporter

Jetcon Corporation’s September quarter was its best year to date, but the company would have to pull off a spectacular finish if it is to match its full-year performance in 2018. That would take earnings of about $47 million in the December...

Published:Sunday | November 24, 2019 | 12:25 AMNeville Graham - Business Reporter

Energy finance company MPC Capital expects a series of projects it is backing to come on stream within two years in various regional markets, including Jamaica. The German company, which is keenly overseeing a US$23 million rights issue by its...

Published:Sunday | November 10, 2019 | 12:28 AMNeville Graham - Business Reporter

NCB Insurance Company, NCBIC, is laying claim to being the oldest continuing pension fund in Jamaica, but they fall second behind the top fund manager Sagicor Life in terms of market dominance. The private pension market is valued above $600...

Published:Sunday | November 3, 2019 | 12:38 AMNeville Graham - Business Reporter

In Jamaica’s capital city, home buyers who dream of yard space, their own boundary wall or fence, and all that comes with a stand-alone residence now have to worry about more than just the mortgage in single house property. Land space is...

Published:Friday | November 1, 2019 | 12:25 AMNeville Graham - Business Reporter

A decade has elapsed since the Government last sold its sugar assets to private owners, including a foreign investor. The six factories were supposed to become profit-making machines after serious retooling. But the programme has largely failed,...

Published:Friday | October 18, 2019 | 12:13 AMNeville Graham - Business Reporter

It will take two years to build out the new distribution hub that Cari-Med is investing US$46 million ($6 billion) to develop on the north western fringes of the Bernard Lodge lands in St Catherine. The hub will consolidate and relocate several...

Published:Sunday | September 22, 2019 | 12:31 AMNeville Graham - Business Reporter

Closing arguments in the Arc Systems case began in the Supreme Court on Thursday but won’t conclude until the end of October due to time constraints and scheduling conflicts. Justice David Batts is hearing an application from Exclusive Holidays of...

Published:Friday | September 6, 2019 | 12:26 AMNeville Graham - Business Reporter

The timetable to return Fly Jamaica to the skies appears to be in doubt, its employees are still unpaid, and the airline’s founder, Ronald Paul Reece, says the deal for the takeover of the airline is yet to be finalised. Glenn Logan, who previously...

Published:Sunday | September 1, 2019 | 12:11 AMNeville Graham - Business Reporter

Gloria’s Seafood City, a choice eatery that has its genesis in the quiet fishing village of Port Royal, east Kingston, but which attracts customers from all over the island, has expanded the business to Ocho Rios, St Ann. The 1,300 square feet...

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