Royal Caribbean Group’s agreement to buy half of Sandals Resorts International implies the Jamaican hotel chain will earn roughly US$600 million a year in earnings before interest, tax, depreciation and amortisation (EBITDA), which…
Category: Business & Economy
Jamaica holds US$45m owed to Venezuela in frozen account
Jamaica has built up US$45 million (J$7.2b) in PetroCaribe payments owed to Venezuela, an amount that’s grown more than 16-fold over two years. The money sits in a segregated account at the Bank…
JSE SUMMARY THURS, sept 24
In Thursday’s trading session the following reflects the movement of the JSE Indices: • The JSE Combined Index advanced by 113.68 points (0.03%) to close at 375,223.62 points and the volume traded amounted…
Rusal seeks buyers for Windalco as it pulls back from the Caribbean
Russia’s largest aluminium producer, UC Rusal, has started looking for buyers for its Windalco alumina complex in Jamaica and its bauxite operations in Guyana, US-based Bloomberg News reported, citing people familiar with the…
Hurricane Melissa and the ‘endurance economy’ – The recovery we are enduring
In a recent series of articles, Professor C. Justin Robinson, pro-vice-chancellor and principal of The University of the West Indies Five Islands Campus, introduced the concept of the ‘endurance economy’. A reader shared…
Melania Trump rings New York Stock Exchange opening bell to launch new women’s initiative, Imperia
Melania Trump rang the opening bell at the New York Stock Exchange (NYSE) on Wednesday to promote her new initiative to help women become leaders and achieve economic power. It’s called Imperia, and…
JBG forensic sweep finds no new irregularities amid $6.8b loss
Jamaica Broilers Group (JBG) said it conducted a forensic review of its electronic communications and found no accounting irregularities beyond those already disclosed, the poultry group said in audited statements that report a…
Federal Reserve rate hike reflects new world of sticky inflation and faster growth
President Donald Trump has renewed his attacks on the Federal Reserve after it hiked its benchmark interest rate on Wednesday, but the Fed matters less than broader economic trends when it comes to…
CG United presses expansion despite US$62m Melissa claims bill
Hurricane Melissa cost CG United Insurance Jamaica US$62 million in claims and pushed it to loss position, but it’s still in growth mode. “Overall, CG United Jamaica had 209 reported claims,” Country Manager…
Google fined $463 million for breaching EU rule on location data
Google has been fined 403 million euros (US$463 million) for breaching the European Union’s strict privacy rules because it mishandled users’ location data, the bloc’s data privacy watchdog said on Monday. Ireland’s Data…