Fri | Jan 28, 2022

Business

Published:Friday | January 28, 2022 | 12:11 AM

Finance Minister Nigel Clarke is signalling that a major reset of public sector compensation will be reflected in the next budget, which is due in a few months. With the government keeping a keen eye on productivity in the sector, Clarke says the...

Published:Friday | January 28, 2022 | 12:10 AM

Cosmetics company Mi Natural outshone two other companies in the JSE Pitch Room competition to cop $300,000 in grant funding to assist with launching its business. The win marks the third competition that the business, which deals in hair growth...

Published:Friday | January 28, 2022 | 12:09 AM

In a recent commentary, Joseph E. Stiglitz describes Argentina’s recovery in 2021 as a “COVID miracle”. Yet in our view, the country is heading for another economic disaster. Consider Argentina’s recent economic history. When President Alberto...

Published:Friday | January 28, 2022 | 12:09 AM

Chipmaker Intel scored a decisive legal victory on Wednesday in a long-running battle against European Union, EU, competition watchdogs after a court reversed itself and threw out a billion-euro antitrust fine issued more than a decade ago. The EU...

Published:Friday | January 28, 2022 | 12:09 AM

Boeing is reporting a US$4.16-billion loss for the fourth quarter as the financial fallout from production flaws in one of its bestselling planes keeps getting worse. The aircraft maker took a charge of US$3.5 billion to cover additional delays in...

Published:Friday | January 28, 2022 | 12:09 AM

Nissan is recalling more than 793,000 small SUVs in the United States and Canada because water can get into wiring which, in rare cases, could start a fire. The recall covers Nissan Rogue SUVs from the 2014 through to the 2016 model years. The...

Published:Friday | January 28, 2022 | 12:09 AM

The United States Federal Reserve signalled on Wednesday that it will begin a series of interest rate hikes in March, reversing pandemic-era policies that have fuelled hiring, growth and stock market gains, but also stubbornly high inflation. Fed...

Published:Friday | January 28, 2022 | 12:09 AM

Tesla Inc on Wednesday posted record fourth-quarter and full-year earnings as deliveries of its electric vehicles soared, despite a global shortage of computer chips that has slowed the entire auto industry. Although the company predicted it would...

Published:Friday | January 28, 2022 | 12:09 AM

Mitsubishi Heavy Industries, MHI, and the Japan Atomic Energy Agency have signed an agreement to participate in a next-generation nuclear energy project with TerraPower, a company started by Bill Gates. The memorandum of understanding signed on...

Published:Friday | January 28, 2022 | 12:09 AM

Asian stock markets tumbled by unusually wide margins on Thursday after the Federal Reserve indicated that it plans to start raising interest rates soon to cool inflation. Tokyo’s market benchmark fell more than three per cent. Hong Kong and Seoul...

Published:Friday | January 28, 2022 | 12:08 AM

The Jamaica Stock Exchange, JSE, expects to allow trading of tokenised listings this year through a platform developed by Blockstation, its Canadian partner. The move will usher in trading in digital assets and payments using digital currencies,...

Published:Friday | January 28, 2022 | 12:08 AMHuntley Medley - Associate Business Editor

The do-over of an August 9, 2021 meeting of creditors of the indebted attraction company Mystic Mountain Limited, MML, to try and arrive at an agreement to pay out secured bondholders and avert being formally declared bankrupt and/or having the...

Published:Friday | January 28, 2022 | 12:08 AM

After prospecting a number of markets, including in the United Kingdom and the United States, regional conglomerate Massy Holdings Limited has settled on the Jamaica Stock Exchange, JSE, to partially satisfy its need for capital to pursue its...

Published:Thursday | January 27, 2022 | 3:54 PM

The Jamaica Stock Exchange (JSE) Combined Index closed Thursday advancing marginally. The moderate trading session ended with an advance/decline ratio of 53/35. The JSE Combined Index advanced by 1,802.85 points or 0.45 per cent, to close at 404,...

Published:Thursday | January 27, 2022 | 12:06 AM

Julian Mair, chairman of the Jamaica Stock Exchange, JSE, warned that the country must improve its return on education amid the pandemic or face the prospect of an enlarged criminal pool. “The markets are not my greatest concern,” Mair said at the...

Published:Wednesday | January 26, 2022 | 12:09 AM

The International Monetary Fund, IMF, is downgrading its forecast for the world economy this year, citing the spread of COVID-19’s omicron variant, higher energy prices, an uptick in inflation and a deteriorating outlook for the world’s two biggest...

Published:Wednesday | January 26, 2022 | 12:08 AM

One of the seven sheikhdoms in the United Arab Emirates, UAE, said on Tuesday it will allow “gaming” while announcing a multibillion-dollar deal with Las Vegas-based casino giant Wynn Resorts. The announcement by Ras al-Khaimah comes after months...

Published:Wednesday | January 26, 2022 | 12:08 AM

The United States Federal Reserve released a highly anticipated report on central bank digital currencies that suggested it is leaning towards having banks and other financial firms, rather than the Fed itself, manage digital accounts for customers...

Published:Wednesday | January 26, 2022 | 12:08 AM

GraceKennedy Limited is working through details of the announced employee stock ownership plan, ESOP, but intends to share full information about the centenary gift with its more than 2,000-member workforce within the next few weeks, before...

Published:Wednesday | January 26, 2022 | 9:14 AMHuntley Medley/ - Associate Business Editor

Alliance Financial Services Limited, AFSL, has failed in its bid to have the suspension of its cambio and remittance licences lifted while it fights the action taken by the central bank in court. The Bank of Jamaica, BOJ, suspended the licences in...

Published:Wednesday | January 26, 2022 | 12:08 AM

Trinidad’s gas company and 11 others from places such as Brazil, United States and China are chasing business in Guyana, and have put in pre-qualifying bids to add a gas-fired plant and develop additional capacity for the power grid. The US$900-...

Published:Wednesday | January 26, 2022 | 12:08 AM

Oil and gas company, bpTT, says it has joined forces with two universities in Trinidad...

Published:Wednesday | January 26, 2022 | 12:07 AM

Soleco Energy Limited has secured US$24.3 million in funding from IDB Invest, to fast-track its projects that are mainly focused on solar energy systems. “This loan facility will enable Soleco to provide competitive financing options to our clients...

Published:Wednesday | January 26, 2022 | 12:07 AM

JMMB Bank has struck a US$20-million loan agreement with Development Finance Institute Canada, or FinDev, the first in a series of funding initiatives the bank will embark on this year to grow loans to entrepreneurs operating small and medium-sized...

Published:Wednesday | January 26, 2022 | 12:06 AM

In April, Brazil’s federal police stormed the helipad of a seaside hotel in Rio de Janeiro state, where they busted two men and a woman loading a chopper with 7 million reais (US$1.3 million) in neatly packed bills. The detainees told police they...

Pages

Subscribe to Business