Mon | Oct 22, 2018

Stories by Steven Jackson/ Senior Business Reporter

Published:Wednesday | October 17, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Airport operator Grupo Aeroportuario del Pacifico, GAP, announced plans to invest US$60 million in the first three years of operating the Norman Manley International Airport, NMIA, according to stock market filings.Additionally, the Mexican company...

Published:Wednesday | September 26, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Caribbean Cream Limited, which trades as Kremi, says its ongoing expansion project will increase production capacity by one-third.The factory is currently operating near full capacity. The additional space will serve two purposes: allow the company...

Published:Wednesday | September 26, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

The ban on single-use plastic bags could create a market opportunity prospectively valued at around $3 billion for suppliers of alternative packaging.The ban has local cardboard box maker Jamaica Packaging Industries Limited, JPI, considering...

Published:Wednesday | September 19, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

The fast-growing Bioprist Group, which requires more space to operate, plans to move its headquarters and subsidiary Indies Pharma Jamaica to new and separate locations in St James, following acquisition and retrofitting costs at more than US$4...

Published:Wednesday | September 19, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Productive Business Solutions Limited, PBS, said Tuesday that it expects to make acquisitions in the Colombian market, having become more familiar with how that country does business.PBS started from scratch in Colombia, having turned down the...

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

Digicel Group Limited, whose footprint began in Jamaica, continues to push for acceptance of a debt exchange on US$3 billion of its bonds even as some bondholders threaten legal action, and a default rating looms from a top credit rating agency.The...

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

Audley Shaw, the minister with portfolio responsibility for agriculture, is considering new taxes on coffee that would hand a victory to local producers who have been lobbying for an adjustment to the import cess as a protective blanket around the...

Published:Wednesday | August 22, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Kaya Inc will open a second medical ganja cafe in Falmouth next month, around the same time it expects to become a publicly listed company trading on the Toronto Stock Exchange, the TSX.The Jamaican outfit founded by businessman and ganja researcher...

Published:Wednesday | August 15, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Telecommunications provider Cable & Wireless Jamaica, which trades as FLOW, earned US$183 million ($23 billion) in revenue over six months ending June, derived in part from price increases...

Published:Wednesday | July 25, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Playa Hotels & Resorts Limited expects to recoup its investment in the Jewel Grande and Hilton Rose Hall resort properties acquired under a deal with Sagicor Group Jamaica, in less than five years...

Published:Wednesday | July 25, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Deaf Can! Coffee, a social enterprise that trains deaf workers in the art of coffee and baking, continues to grow its footprint with the addition of a mobile cafe, which would put its barista staff in 13 locations nationwide.And while Deaf Can! is not...

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 4, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Ratings agency Moody's Investors Service changed its long-term outlook on regional telecoms Digicel Group to negative, arguing that the planned sale of cell towers to reduce debt needs more disclosure.It is rare for Moody's to issue such a change of...

Published:Wednesday | July 4, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Tech firms Ctrl-IT and Hacker Hostel merged their operations in June, positioning the companies to go after business in Caribbean markets."Ctrl-IT had a problem of getting into other markets in order to meet our ambitious revenue target, while we at...

Published:Wednesday | June 27, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Marine park operator Dolphin Cove Limited, which makes most of its revenue in foreign currency, expects the downward swing in the value of the Jamaican dollar to be beneficial to the company's stock.Chairman and CEO Stafford Burrowes, who also...

Published:Wednesday | June 20, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Digicel Group Limited plans to sell hundreds of its Caribbean cell towers in a bid to reduce its leverage. Details are still emerging, but the company plans to finalise the deal in the second quarter of this financial year. The terms of the deal,...

Published:Wednesday | June 13, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Cargo ports in Kingston ranked first in the Caribbean and eighth in Latin America for cargo movements in 2017 despite flat performance, according to data released by a United Nations regional body.The port in Caucedo, Dominican Republic, ranked...

Published:Wednesday | June 13, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Derrimon Trading Limited, owner of the Sampars chain of supermarkets, is predicting savings of about $20 million in interest costs, having secured a $625 million loan to refinance existing debt.The loan will finance the early redemption of bonds...

Published:Wednesday | June 6, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Start-up venture IronRock Insurance Company said property insurance rates could remain stable or dip next year despite predictions of a fairly active hurricane season."The activity is not the issue. The issue is whether the activity generates losses...

Published:Wednesday | May 16, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Jamaican models are in major campaigns for brands such as Gucci and Balenciaga, but local fashion designers are yet to attain similar levels of access.Saint International modelling agency and the state agency Jamaica Business Development Corporation...

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

Stationery & Office Supplies Limited (SOS) announced that it acquired the manufacturing assets of Book Empire Limited, which makes notebooks, choir books, and writing pads, in a deal worth $80 million...

Published:Wednesday | April 11, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Power utility Jamaica Public Service Company JPS, more than doubled its stake in the joint venture handling construction of its power plant in Old Harbour, in order to meet state requirements.Under a US$16-million transaction, JPS increased its...

Published:Wednesday | April 4, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Chris Dehring needs US$3 million of financing to build out the next phase of ReadyTV, but appears unlikely to get the funds from the banks, even while talks continue with potential backers.As a start-up, the cable TV company was financed with equity...

Published:Wednesday | March 28, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Licensed ganja operator Epican Medicinal Limited plans to open an outlet at popular Market Place complex in Kingston, which the planning authorities describe as an agro-processing facility.Epican has received planning permission and an environmental...

Published:Wednesday | March 28, 2018 | 12:00 AMSteven Jackson/ Senior Business Reporter

Kingston Freeport Terminal Limited, KFTL, plans to renovate and expand 15 structures at the port, and is now recruiting designers for the project.The port operator in its 'Request for Interest', said the scope of work includes architectural designs...

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