Wed | Jun 16, 2021

Stories by Huntley Medley - Associate Business Editor

Published:Sunday | June 13, 2021 | 12:10 AMHuntley Medley - Associate Business Editor

Regional soap producer Dominica Coconut Products Successors Limited, DCPS, has made good on a threat to head to court in a long-running feud with some Jamaican state agencies and Jamaican manufacturers and exporters of soap. In a suit filed in the...

Published:Sunday | June 13, 2021 | 12:07 AMHuntley Medley - Associate Business Editor

Seeking the best path to growth, the University of the Commonwealth Caribbean, UCC, has this year formally spun off several business activities into a number of subsidiary companies as part of a strategy it has been developing since last year....

Published:Friday | June 4, 2021 | 12:07 AMHuntley Medley - Associate Business Editor

Global pharma company Medimpex has had a relatively good year, growing revenues and profit from the Caribbean region, led by its 42-year-old Jamaican operation. At the height of the pandemic last year, revenues grew by 16 per cent to 3.8 billion...

Published:Friday | May 28, 2021 | 12:16 AMHuntley Medley - Associate Business Editor

Gordon Baldie’s plan to build out a car parts remanufacturing and recycling operation in western Jamaica at a cost of just over US$18 million, or about $2.7 billion, won him the Jamaica Stock Exchange pitch competition in 2018. Since then, the...

Published:Sunday | May 23, 2021 | 12:16 AMHuntley Medley - Associate Business Editor

A mere month into its new independent status and with its core mandate being inflation control, a clause in the newly amended Bank of Jamaica (BOJ) Act has been triggered, requiring the central bank governor to provide the Government with an...

Published:Sunday | May 23, 2021 | 12:09 AMHuntley Medley - Associate Business Editor

Microlenders now have 14 months to put their affairs in order and register their businesses with the Bank of Jamaica (BOJ) under the Microcredit Act, which was passed in January. At least one entity representing the sector that is said to have $20...

Published:Friday | May 21, 2021 | 12:11 AMHuntley Medley - Associate Business Editor

A partnership is taking shape between the University of the West Indies and Bioprist that will see a section of the medical tourism resort complex the company is developing in Montego Bay becoming the home for the western Jamaica campus of the UWI...

Published:Friday | May 14, 2021 | 12:09 AMHuntley Medley - Associate Business Editor

GraceKennedy Limited began stepping up its programme to digitally transform the group from last year, having poured US$25 million into its tech infrastructure in the past five, and now it’s gone further to bring an expert on board. But...

Published:Sunday | May 9, 2021 | 12:11 AMHuntley Medley - Associate Business Editor

Spirits company Campari Group has placed a new man in charge of sales for its Jamaican business, who will also oversee 26 other markets in the Caribbean. Cecil Smith Jr took up duties on May 3 as senior commercial director for J Wray...

Published:Friday | May 7, 2021 | 12:28 AMHuntley Medley - Associate Business Editor

Lagoons Management Limited, LML, has failed to secure a court injunction halting the construction of a home in the posh gated waterfront Lagoons community at Freeport in Montego Bay being built by businessman Dr Guna Muppuri and his wife Vishnu...

Published:Wednesday | May 5, 2021 | 12:27 AMHuntley Medley - Associate Business Editor

Jamaica-based directors of Mystic Mountain Rainforest Adventures have been dealt a further blow in their bid to retain management control of the eco-attraction, even as the business has been granted a second reprieve until next month to avoid being...

Published:Friday | April 30, 2021 | 12:13 AMHuntley Medley - Associate Business Editor

J amaica Broilers Group, JBG, wants its chickens to serve up fatter profits, and healthier diets. The company has eliminated antibiotics from its broiler meat operations, but with its year end approaching and financial results soon to come due,...

Published:Friday | April 23, 2021 | 12:24 AMHuntley Medley - Associate Business Editor

The Mexican operator of Jamaica’s two largest international airports says it has presented to the government what it calls “rebalancing proposals” for the economic recovery of the operations in Montego Bay and Kingston. Pacific Airport Group, GAP...

Published:Wednesday | April 21, 2021 | 12:18 AMHuntley Medley - Associate Business Editor

The insurance industry is undergoing a leadership change, the third within a year, even as it is reporting a raft of challenges, including declining capital ratios and increased vulnerability to financial risks, according to an assessment of the...

Published:Sunday | April 18, 2021 | 12:17 AMHuntley Medley - Associate Business Editor

In a new marker for central banking in Jamaica, the amended Bank of Jamaica Act took effect on Friday, April 16, giving the BOJ full independence to craft policy based on its priorities for the monetary system. On the eve of the new law taking...

Published:Sunday | April 18, 2021 | 12:08 AMHuntley Medley - Associate Business Editor

Two market-dominant liquor companies that are European-owned say they are abiding by the raft of laws and regulations passed by the European Union over the years to ensure not just equal pay for men and women doing similar work, but also...

Published:Friday | April 16, 2021 | 12:18 AMHuntley Medley - Associate Business Editor

Armed with US$30 million in fresh cash from its recent additional share offer, Proven Investments Limited has stepped up its Caribbean build-out of portfolio companies with the outright purchase of Heritage Education Funds International Inc....

Published:Friday | April 9, 2021 | 12:14 AMHuntley Medley - Associate Business Editor

An interim receiver has been appointed by the courts over some Venezuelan assets in Jamaica at the request of ConocoPhillips as part of a long-running, multi-jurisdictional bid by the American oil giant to get compensation for the expropriation of...

Published:Friday | April 9, 2021 | 12:10 AMHuntley Medley - Associate Business Editor

Recognising that one of the greatest risks to the planned roll-out of the central bank digital currency, CBDC, is lack of interest and therefore, slow or no take-up by the public, the Bank of Jamaica, BOJ, is seeking to give assurances that the...

Published:Thursday | April 1, 2021 | 12:09 AMHuntley Medley - Associate Business Editor

The new economic policy oversight body being created as the arbiter of Jamaica’s rules on budgeting and government spending has passed the legislative hurdle but a date for its commissioning is yet to be determined. The bill to enact the...

Published:Friday | March 26, 2021 | 12:18 AMHuntley Medley - Associate Business Editor

Hotel industry representatives are displaying no appetite for a rethink of the positioning of Kingston as a meetings market in the tourism arena even after the dramatic financial fallout that they, like their resort counterparts, have seen from the...

Published:Sunday | March 21, 2021 | 12:36 AMHuntley Medley - Associate Business Editor

Montego Bay-based Bioprist Pharmaceuticals, a company led by medical doctor and entrepreneur Dr Guna Muppuri, has signed a deal for the exclusive importation and distribution in Jamaica of the India-made COVID-19 vaccine Covaxin. Made by Indian...

Published:Sunday | March 21, 2021 | 12:27 AMHuntley Medley - Associate Business Editor

Lottery Supreme Ventures Limited, SVL, through its newly formed financial services subsidiary Supreme Ventures Fintech Limited, is now rolling out its first microcredit product, a loan aimed at its 1,300 retail agents. Starting with a $500,000...

Published:Friday | March 19, 2021 | 12:19 AMHuntley Medley - Associate Business Editor

F or Clement ‘Jimmy’ Lawrence, life after sugar and rum appears to be about more sugar and rum. The recently retired chairman of rum maker and former sugar producer J. Wray...

Published:Friday | March 12, 2021 | 12:15 AMHuntley Medley - Associate Business Editor

It’s been three years since the International Monetary Fund, IMF, recommended that Jamaica devise a more thorough risk-based method of supervising the banking system for a better picture of its financial health, detection of potential or...

Pages

Subscribe to Huntley Medley - Associate Business Editor