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...
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...
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...
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...
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...
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...
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...
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,...
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...
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...
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...
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....
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...
The real estate sector continues to see a spike in residential developments as investment properties that are targeted at the growing homeshare market. And at least one bank has designed a loan programme around it. First Global Bank Limited says it...
GraceKennedy Limited and Musson Jamaica, two of Jamaica’s largest conglomerates in control of multiple companies, will initially look to their own networks for business to feed the new life insurance company on which they have teamed up. Insurance...
Lorna Green, CEO of Digital Transtec Limited, is tearing down the building that houses her company in New Kingston to develop a six-storey residential complex. Green is constructing 22 residences on the half-acre lot at IC Braemar Avenue, starting...
Mavis Bank Coffee Factory is anchoring a $43-million donor-funded project to upgrade farming practices in the coffee belt, spanning the parishes of St Andrew and St Thomas. The coffee company owned by investor Michael Lee-Chin will itself...
Patty maker Tastee Limited has ended its five-year business relationship with its former franchisee in Portland, Kimani Robinson’s 360 Restaurants Limited. Robinson, whose company now trades as Patty Express, says he remains in the patty business...
Harmonisation Limited, a state-owned company formed to develop a sprawling resort in Trelawny, is now selling off property in that area, at Silver Sands, but says the disposal of land has no bearing on the project. CEO of Harmonisation Lorna...
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...
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...
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’...
Investors Keith and Paula Russell have joined with principals in a Qatari firm to deliver a 8,000-room, all-inclusive beachfront resort development in Duncans, Trelawny, for which ground was broken on April 12. Designed in the form of a township,...
Wisynco Group is buying a stake in the snacks business owned by Jamaica Producers Group, a deal that is meant to drive distribution of the products in existing and new markets. The $720-million transaction for 30 per cent of JP Snacks Caribbean...
Guardian Life has secured buyers for half of the 176 apartments it just began developing in New Kingston, mainly individual investors in Jamaica and overseas, but also pension funds. Guardian President Eric Hosin said that the company opted to...
