VM Wealth Management Limited is set to receive a $1.5-billion capital injection from VM Financial Group Limited (VMFG) to further strengthen its capital base as market activity continues to soften. This $1.5 billion…
Category: Business & Economy
Stocks Round Up | JSE closes week on winning note
The Jamaica Stock Exchange (JSE) Combined Index closed the week Friday, on a winning note. The moderate trading session ended with an advance/decline ratio of 46/40. The JSE Combined advanced by 1,420.45 points…
Student delegates spearhead strategies for safer Jamaica
Approximately 300 students representing 16 schools from across the island gathered for the 12th staging of the Youth Consultative Conference held under the theme, ‘Creating a Culture of Peace Among Jamaica’s Youths’. The…
Remittance market heats up
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…
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…