Outsourcing provider Ibex Ltd closed two of its four Jamaican delivery centres and cut 1,405 workstations from the island during the financial year to June, stripping out 37 per cent of its Jamaican…
Category: Business & Economy
Apple TV comes to Jamaica, and VPNs can go
Jamaican subscribers can now reach Apple TV through a storage plan that costs US$0.99 a month, less than the price of a patty, while Americans pay 15 times as much for the service…
Rock Solid scales staff eightfold on tank demand
Rock Solid Plastics Ltd turns out up to 150 water tanks a day from its Kingston factory and now employs 40 people, up from five when it started in 2020. The company said…
Food replaces transport as inflation driver, says finance minister
Jamaica’s inflation problem has shifted from transport costs to drought-hit food prices, Minister of Finance and the Public Service Fayval Williams said on Wednesday, as she argued that the economy has weathered Hurricane…
Fed defies Trump with first rate rise in 3 years
The Federal Reserve raised its benchmark interest rate Wednesday for the first time since 2023 in an effort to quell stubbornly-high inflation, a move that could spur a sharp response from the White…
Microsoft commits to sweeping AI privacy rules for students
Millions of students every day turn to AI chatbots for help with schoolwork, emotional support and personal advice – often unaware of where their conversations and other personal information end up. How that…
Island Grill targets 30 stores by 2030 in stepped-up expansion
Island Grill plans to grow its restaurant network by two-thirds to 30 outlets by 2030, a target that overtakes the goal the chain set a year ago. Chief Executive Officer Tania Waldron-Gooden told…
Fontana sales hit record, but costs weigh on profit
Fontana Limited generated record revenue but lower profit across its enlarged 11-store pharmacy network. It plans to cut costs going forward. “The next phase will focus on inventory optimisation, purchasing efficiencies and improving…
Omni sees local growth but shrinking oversees sales
Omni Industries Limited has cut its export ambitions by half and stretched the deadline, telling shareholders it now wants overseas sales to reach 10 per cent of revenue within five years – down…
FSC sets up innovation unit, sandbox for new financial products
The Financial Services Commission (FSC) has established two departments – an Innovation Unit and a Market Growth & Development Department – to give securities, insurance and private pension firms an earlier channel to…