Thu | Jul 19, 2018

Business

Published:Thursday | July 19, 2018 | 12:00 AM

Puerto Rico's governor named a new CEO on Wednesday to lead the US territory's power company, which has now seen three top executives in two weeks as it struggles with a lack of leadership, bankruptcy and the restoration of electricity to hundreds...

Published:Wednesday | July 18, 2018 | 12:09 AM

A former official at a state-run electric company in Caracas, Venezuela, pleaded guilty on Monday to money laundering conspiracy relating to an alleged multibillion-dollar graft scheme in the Venezuelan oil industry.Luis Carlos de Leon-Perez, a 42-...

Published:Wednesday | July 18, 2018 | 12:09 AM

A United States lobbying firm sought to recruit the ambassadors of France, Germany and several other countries to demonstrate international support for severing Russian oligarch Oleg Deripaska's control of Rusal, the aluminium manufacturing giant...

Published:Wednesday | July 18, 2018 | 12:00 AM

The Court of Appeal has reaffirmed that a company which sought to renege on a foreign exchange loan on the basis that the lender was not an authorised dealer still has to make good on the US$747,909 debt.Alexander House Limited, whose principal is...

Published:Wednesday | July 18, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Start-up loan broker Finance Hub aims to reduce the hassle of borrowing.It takes time to shop around for the best loan rates but a start-up company, Finance Hub Jamaica Limited, aims to cut that time to about a day.The company acts as broker between...

Published:Wednesday | July 18, 2018 | 12:00 AM

State-owned Factories Corporation of Jamaica (FCJ), the largest holder of manufacturing space, is hunting deals for 58 properties that it plans to offload, comprising both developed and undeveloped properties, according to chairman Lyttleton 'Tanny...

Published:Wednesday | July 18, 2018 | 12:00 AMNeville Graham/ Business Reporter

Starting today, Wednesday, two of Amber Connect's trackers will be available in the American market through large consumer electronics retailer, Best Buy.It's the Jamaican software and technology company's first foray into the retail space in the US...

Published:Wednesday | July 18, 2018 | 12:00 AM

Revenue from AMG Packaging & Paper Limited's core cardboard box operations grew by double-digit levels in the third quarter ending May, but higher costs led to lower profit...

Published:Wednesday | July 18, 2018 | 12:00 AMSteven Jackson/Senior Business Reporter

Ice cream maker Caribbean Cream Limited, which trades as Kremi, reported improved results for its first quarter ending May 2018, a period in which it also made a large investment in fixed assets, but did not disclose how the capital was deployed.The...

Published:Wednesday | July 18, 2018 | 12:00 AM

An international forum on financial regulation say virtual currencies such as bitcoin do not currently pose a threat to global stability but require "vigilant monitoring" as the market is changing rapidly.The Financial Stability Board, FSB, added...

Published:Wednesday | July 18, 2018 | 12:00 AMSteven Jackson/Senior Business Reporter

Desnoes & Geddes Limited, which trades as Red Stripe Jamaica, recorded revenues of $22.2 billion for its full year ending December 2017...

Published:Wednesday | July 18, 2018 | 12:00 AM

A Dutch company that presented the world's first lab-grown beef burger five years ago said on Tuesday that it has received funding to pursue its plans to make and sell artificially grown meat to restaurants from 2021.Mosa Meat said that it raised...

Published:Wednesday | July 18, 2018 | 12:00 AM

British Prime Minister Theresa May faced more rebellion in Parliament on Tuesday over her plans for the country's exit from the European Union, with lawmakers voting on a Brexit trade bill a day after she narrowly avoided a parliamentary defeat.Pro-...

Published:Wednesday | July 18, 2018 | 12:00 AM

Another Wall Street veteran of the financial crisis is stepping aside: Lloyd Blankfein is retiring as CEO of Goldman Sachs after 12 years at the helm of the storied investment bank.Blankfein will be replaced by David Solomon, a long-time Goldman...

Published:Wednesday | July 18, 2018 | 12:00 AMMcPherse Thompson/ Assistant Editor - Business

Amid pushback from Jamaica's trade officials, the Economic Commission for Latin America and the Caribbean, ECLAC, now says its data on Jamaica's foreign direct investment flows was preliminary and would be updated.Last week, Minister of Industry,...

Published:Wednesday | July 18, 2018 | 12:00 AM

The Port Authority of Jamaica has now rolled out the import phase of its Port Community System, PCS.It will deal with submissions related to Less-Than-Container-Load or LCL manifests to the Jamaica Customs Agency,...

Published:Tuesday | July 17, 2018 | 12:10 AM

The Trump administration on Monday brought cases against China, the European Union, Canada, Mexico and Turkey at the World Trade Organization (WTO), for retaliating against American tariffs on imported steel and aluminium.The United States has...

Published:Sunday | July 15, 2018 | 12:00 AMAvia Collinder

Use of automated banking services by rural customers continue to lag urban areas, but Brian Boothe, the head of retail banking at National Commercial Bank (NCB), expects they will eventually follow the trend, and is investing in making it happen.It'...

Published:Sunday | July 15, 2018 | 12:00 AMAvia Collinder

Sagicor Bank Jamaica Limited has fielded a mobile point-of-sale device which can be used by merchants and small business persons on the go, potentially widening the market for cashless transactions.SWYPE, the new mobile device, is cheaper and likely...

Published:Sunday | July 15, 2018 | 12:00 AMNeville Graham

Fearing backlash from foreign banking partners, local lenders are reluctant to do business with the emergent cannabis industry.Senator Mark Golding, a former minister of justice and now opposition spokesman on finance, is pitching to industry...

Published:Sunday | July 15, 2018 | 12:00 AM

I got the following letter, which I cannot reproduce in its entirety, as its use of several expletives makes it unreadable to a large section of Jamaicans. But it carries a popular sentiment. He was writing in response to the article 'Human rights...

Published:Sunday | July 15, 2018 | 12:00 AM

After you spend precious time fixing a basic issue of miscommunication, how do you prevent it from recurring?Try borrowing the high standard of dialogue used in the aviation industry.Mistakes take place between executives, managers and staff every...

Published:Sunday | July 15, 2018 | 12:00 AM

QUESTION: I have seen where you have given sound advice to many persons. I would like you to assist me likewise. In 2010, I partnered with my brother to acquire a property. I work with the government so I got the loan at a reduced rate. However, it...

Published:Sunday | July 15, 2018 | 12:00 AM

Most politicians connect with their electorate, but few have the capacity or charisma to be able to encapsulate complex ideas in a manner that makes disinterested and disaffected individuals, irrespective of political persuasion, stop and think...

Published:Sunday | July 15, 2018 | 12:00 AM

Attorney Hugh Wildman says the lawsuit filed against the Government for its failure, up to May this year, to compensate an elderly woman, whose property was forcibly acquired more than 20 years ago under the Northern Coastal Highway project, has...

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