Sat | May 25, 2019

Business

Published:Friday | May 3, 2019 | 12:19 AMSteven Jackson - Senior Business Reporter

Jamaican debt at nearly 57 per cent to disposable income appears high, but a top banker says the figure by itself is misleading. David Noel, who heads Jamaica’s No. 2 bank and is also the chief spokesman for the banking sector, says half of the...

Published:Friday | May 3, 2019 | 12:18 AM

Jamaica’s homeshare market grew by two-thirds in 2018. Minister of Tourism Edmund Bartlett reported to Parliament on Tuesday that home stays booked through Airbnb grew 62 per cent, from 55,000 to 89,500 guests. Airbnb is the online vacation site...

Published:Friday | May 3, 2019 | 12:17 AMAvia Collinder - Business Reporter

Another 284MW of generating capacity fired by LNG, or liquefied natural gas, is to be added to the national between now and 2020 and Jamaica’s electricity consumers are expected to foot the bill. The Office of Utilities Regulation (OUR) said the...

Published:Thursday | May 2, 2019 | 4:38 PM

Banking conglomerate, NCB Financial Group expects to close the longstanding offer for the acquisition of a majority stake in Guardian Holdings Limited, (GHL) by May 13. That date represents a 10-day extension in the 17-month since it has been...

Published:Thursday | May 2, 2019 | 12:27 AM

The United States Federal Reserve left its key interest rate unchanged and signalled no rate hikes are likely in coming months. The move, which was widely expected, comes amid signs of renewed economic health, but unusually low inflation. The...

Published:Wednesday | May 1, 2019 | 12:38 AM

Warren Buffett's Berkshire Hathaway will finance a bid by Occidental Petroleum for Anadarko, potentially upending Chevron's US$33 billion offer for the energy company. At stake are choice oil and gas fields spread across Texas and New Mexico,...

Published:Wednesday | May 1, 2019 | 12:10 AMSteven Jackson/Senior Business Reporter

Caribbean Cement Company Limited beat expectations when it tripled first-quarter profit in results ­released on the weekend, and the market has ­rewarded the company with a record stock price near $80. Earnings per share at the cement maker...

Published:Wednesday | May 1, 2019 | 12:09 AMAvia Collinder/Business Reporter

Microfinancing firm Sprint Financial Services has introduced two new business lines, purchase order financing and transfers of PayPal payments through newly developed portal SprintFinx.com. The online portal will facilitate settlement of PayPal...

Published:Wednesday | May 1, 2019 | 12:08 AMHuntley Medley/Senior Business Writer

The 80-year-old Shipping Association of Jamaica, SAJ, is at a crossroads of sorts and its leadership recognises this fact. Formed as a trade union of employers of port workers in 1939, the SAJ has been supplying labour to Kingston’s two major port...

Published:Wednesday | May 1, 2019 | 12:08 AMSteven Jackson/Senior Business Reporter

The Ministry of Finance in Trinidad and Tobago approved a licence for NCB Financial Group’s acquisition of Guardian Holdings Limited, GHL, with ‘best wishes’ for the parties to a transaction that has buy-in from shareholders but has been held up by...

Published:Tuesday | April 30, 2019 | 12:15 AM

Marriott is pushing more heavily into home-sharing, confident that its combination of luxury properties and loyalty points can lure travellers away from rivals like Airbnb. The world’s biggest hotel company will soon start taking reservations...

Published:Monday | April 29, 2019 | 9:47 PMSteven Jackson

  One of the three licences needed by NCB Financial for the takeover of Guardian Holdings Limited has been granted by Trinidad’s Finance Minister Colm Imbert under the Foreign Investment Act. There were no updates on the other two...

Published:Sunday | April 28, 2019 | 12:21 AM

ADVISORY COLUMN: BUSINESSWISE QUESTION: I'm 25 years old and I've been wanting to start a business but I'm not sure what to do. I've been contemplating a liquor/beverage store or a restaurant since I already have a certificate in restaurant...

Published:Sunday | April 28, 2019 | 12:20 AM

ADVISORY COLUMN: INSURANCE QUESTION: I had an extended stay in the United States recently. The best part was using a family member’s self-driving vehicle. Despite my strong desire not to cede control to the automated systems, I allowed the vehicle...

Published:Sunday | April 28, 2019 | 12:19 AM

COLUMN: FOREIGN POLICY Just before Easter, the Trump administration announced multiple new sanctions on Cuba. In doing so, senior United States officials made clear that Washington was not just trying to break Havana’s close economic and political...

Published:Sunday | April 28, 2019 | 12:18 AMSteven Jackson - Senior Business Reporter

NCB Financial Group, which operates Jamaica’s largest bank, expects the second half of its financial year to yield positive returns, with or without the closure of the Guardian deal. The banking group said on Friday that it is awaiting approval on...

Published:Sunday | April 28, 2019 | 12:12 AM

Nine years after the Jamaican Government put in place legislation to prevent leakage of taxpayers’ funds by creating a single account at the Bank of Jamaica, more than $40 billion of the state’s resources are still being held in commercial banks....

Published:Sunday | April 28, 2019 | 12:12 AM

The Ministry of Industry, Commerce, Agriculture and Fisheries (MICAF) has 300 project proposals in hand for new farms on the Bernard Lodge lands in St Catherine. Minister Audley Shaw said that the projects would be executed under the...

Published:Friday | April 26, 2019 | 12:31 AMHuntley Medley - Senior Business Writer

Year two of Christopher Zacca’s tenure as president and CEO of Sagicor Group Jamaica brought record profit amid a restructuring of the accounting for resort investment Playa. But just in case anyone thought otherwise, Zacca is declaring he is...

Published:Friday | April 26, 2019 | 12:24 AMAvia Collinder - Business Reporter

The number of applicants for shares in the Wigton Windfarm IPO has exceeded the 10,000 goal set by the Jamaican Government. But a representative of lead broker Mayberry Investments Limited, who confirmed the level of subscriptions, said “public...

Published:Friday | April 26, 2019 | 12:24 AM

Two companies from Uruguay and Colombia will become the first in Latin America to export medical marijuana products to Europe under deals announced Wednesday. Fotmer Life Sciences of Uruguay and Clever Leaves of Colombia will export cannabis...

Published:Friday | April 26, 2019 | 12:24 AM

Germany’s Deutsche Bank and Commerzbank said Thursday they were halting talks on a possible merger that aimed to create a stronger global banking player, saying it would be too risky and costly. Deutsche Bank CEO Christian Sewing said in a...

Published:Friday | April 26, 2019 | 12:23 AM

Who’s minding the store? In the not-too-distant future it could be cameras and sensors that can tell almost instantly when bruised bananas need to be swapped for fresh ones and more cash registers need to open before lines get too long. Walmart,...

Published:Friday | April 26, 2019 | 12:23 AM

Sygnus Credit Investments, SCI, is looking to real estate and going beyond Jamaica’s boundaries to make more money for its investors. A property fund is being created for the purpose, but Berisford Grey, CEO of SCI’s management company Sygnus...

Published:Friday | April 26, 2019 | 12:21 AMAvia Collinder - Business Reporter

While it will not share the percentage of the remittance market which it currently controls in Jamaica, American company PayPal, which owns remittance company Xoom, is not being coy about its desire to increase market share in one of the Caribbean’...

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