Jamaica made more progress on wages than any of the twenty countries sampled in the region, when factoring for inflation, a new UN report says. It follows the big pay raise the Jamaican…
Category: Business & Economy
Clarke: Government to resist election overspending
Jamaica now faces the challenge of resisting overspending during upcoming elections which could erode the gains of increased fiscal surplus and reduced debt levels since the pandemic. Local government elections are coming this…
GE business to supply turbines for Western Hemisphere’s largest wind project
A business to be spun off by General Electric will build hundreds of turbines for what will be the largest wind project in the Western Hemisphere, part of a massive equipment order and…
Consumers bullish on jobs, high on confidence despite inflation
Consumers are more confident, but businesses are more cautious, new data released on Tuesday shows. Consumer confidence grew to 174.7 points in the fourth quarter of 2023, which was 8.5 per cent higher…
Knutsford pouring $500m into fleet, digital systems
Transport company Knutsford Express Services Limited is reforming its passenger processing and boarding procedures, using a model that partly mimics airport logistics, inclusive of departure gateways. The company has also added ticket-checking…
BOJ going all out for Jam-Dex success
The Bank of Jamaica (BOJ) is currently working to modify the existing payment infrastructure to create a more accommodating environment for the acceptance of Jam-Dex (Jamaica Digital Exchange), Jamaica’s central bank digital currency…
Inflation soars to 10-month high on rising transport costs
Higher rates for passenger transport services pushed inflation to a 10-month high at 6.9 per cent for the year spanning December 2022 to December 2023. This is the highest inflation has been measured…
Consumers buoyant but businesses cautious
An uptick in consumer confidence and a less-than-optimistic outlook on the local economy amongst business leaders were the highlights of the Jamaica Chamber of Commerce Business & Consumer Indices webinar on Tuesday, which…
Deadline extended for investor interest in 100MW renewable energy project
Jamaica’s Generation Procurement Entity (GPE), the entity responsible for leading the charge to get investments in power generation, has extended the timeline for companies to submit bids to supply 100 megawatt (MW) of…
Courtleigh Hotel’s redevelopment totals US$2m; more locals being targeted
Founder of the Courtleigh Hospitality Group Kevin Hendrickson has invested US$2 million in the renovation and rebranding of the Courtleigh Hotel and Suites on Knutsford Boulevard in New Kingston. The hotel, which was…