The multi-billion-dollar remittance market has heated up even further as Supreme Ventures Fintech Limited (SVFT) becomes the ninth company to receive a primary agent licence from the Bank of Jamaica (BOJ). Supreme Ventures…
Category: Business & Economy
Hendrickson smarts from import restrictions and labour challenges, but ploughs ahead with investments
Gary ‘Butch’ Hendrickson, head of National Baking Company Limited, is exasperated with what he describes as recurring issues relating to raw materials import restrictions caused by government regulations that serve no one’s interests…
Jamalco suffers another power disruption costing billions
Century Aluminum Company, the owners of Jamalco, disclosed on Wednesday that during summer, the power generation unit at the Clarendon-based refinery malfunctioned, costing the company about US$22 million. The loss translates to $3.4…
Palace thrilled by return of actors to work
The country’s lone cinema operator Palace Amusement Limited has said it is pleased with the return to work of Hollywood actors, who after weeks of staying off the job have cast a shadow…
Summerhouse restaurant bringing old world hospitality to customers
WHEN Michelle and Suzanne Rousseau, siblings and co-owners of the Summerhouse restaurant, decided to open a second location for the business in 2020, they ran head-on into the COVID-19 pandemic. The global health…
Holness: Labour shortage a national emergency
Prime Minister Andrew Holness has described as a ‘national emergency’ the need to reach out to Jamaica’s human resources who are outside the formal labour force, given evidence of a labour shortage. He…
General Motors autonomous vehicle unit recalls cars for software update after dragging a pedestrian
General Motors’ Cruise autonomous vehicle unit is recalling all 950 of its cars to update software after one of them dragged a pedestrian to the side of a San Francisco street in early…
Gas and diesel prices going down
Motorists will pay less for gas and diesel when they go to the pumps on Thursday. The state-owned oil refinery, Petrojam, says E-10 87 is to move down by $1.30 to sell for…
PriceSmart dives on massive fourth-quarter miss
PriceSmart Inc’s (PSMT) stock price dove 13 per cent last Tuesday from US$71.67 to US$62.49 as its fourth-quarter consolidated net profit dropped 34 per cent from US$23.30 million to US$15.38 million due to…
‘Open that door’
THE calls are getting louder from private sector individuals for the Government to start taking steps to mitigate an impending labour crisis that could emerge from the tightening job market with unemployment at…