Within days, the disputed takeover of minority holdings in Petrojam by the Jamaican government is likely to get a hearing from an international arbitration panel. It comes amid new disclosure by the Ministry…
Category: Business & Economy
Financial accounts for itel overhauled, says key investor Portland
Outsourcing Management Limited, which trades as itel, recently overhauled its books following concerns raised by key investors. The disclosure was made on Tuesday by one of those investors, equity fund Portland JSX Limited,…
Port congestion worries
THE Kingston Freeport Terminal Limited (KFTL), operators of the Kingston Container Terminal, is now in a mad rush to clear congestion at the port as the busy Christmas period approaches. KFTL said the…
Guyana strikes oil again
GUYANA’S Ministry of Natural Resources announced Thursday that an appraisal well drilled by a consortium led by Exxon Mobil has resulted in a “significant discovery” of oil and gas. In a statement, the…
Geopolitical issues worries global CEOs
In the latest KPMG CEO Outlook survey of more than 1,300 global managers, a majority have cited geopolitics and broader political uncertainty among the greatest risk to business growth in 2023. Both phenomena,…
Digicel CEO to retire
Chief executive officer of the Digicel Group Oliver Coughlan will step down from his role come December, after staying on for an extra year to oversee the restructuring of the telecoms giant. Coughlan,…
Hong Kong trying to maintain image as finhub
Hong Kong’s leader on Wednesday cut taxes for some homebuyers and stock traders to boost markets as the city seeks to maintain its reputation as a global financial hub. Chief Executive John Lee…
Gas prices up $0.25, diesel down $0.90
Motorists will pay $0.25 more for gas when they go to the pumps on Thursday. The state-owned oil refinery, Petrojam, says E-10 87 will sell for $183.02 per litre while a litre of E-10…
Crime slicing and dicing confidence
Consumer and business confidence indices inched up marginally in the third quarter of 2023 but crime continues to weigh on the growth of the indices. Consumer and business confidence hit 161.1 points and…
Jamaica raising new debt on global markets, to pay down bonds worth US$1.7b
The Government of Jamaica, GOJ, armed with two credit rating upgrades, will be raising new debt on the international market to pay down US$1.76 billion in existing global bonds. It forms part of…