The Government of Jamaica will begin formal discussions in January to either renew or revoke the licence of sole power utility Jamaica Public Service Company Limited, JPS, following the close of a tender…
Category: Business & Economy
Saudi Aramco oil company reports US$26.9b profit in third quarter
Saudi oil giant Aramco reported on Tuesday a US$26.9-billion profit in the third quarter, down slightly from last year as global energy prices remain depressed over concerns of too much oil being on…
Flight cuts add strain to supply chain as US shutdown lingers
Several airports with major package distribution centres are on the list of airports that will reduce capacity in the wake of the US Federal Aviation Administration’s announcement of a 10 per cent reduction…
PriceSmart to double Jamaican presence
PriceSmart Inc, operator of membership warehouse clubs across the Americas, plans to double its store count in Jamaica to four by next year. “The company purchased land in Montego Bay, Jamaica, and leased…
Melissa triggers second CCRIF payout, US$150m cat bond
CCRIF Spc, the Caribbean catastrophe risk insurance facility, will make a second payment to Jamaica, this time in relation to rainfall due to Hurricane Melissa. A day later, on Friday, the World Bank…
Genac shoots past prior-year results but Melissa a new complication
Just nine months in, General Accident Insurance Company Jamaica Limited’s earnings have already surged past the full-year results for all of 2024, performance that positioned the insurer for a strong year end close;…
Genac aiming to become regional powerhouse as Beacon joins group
General Accident Insurance Company Jamaica Limited is expanding through the addition of a new subsidiary, Trinidad-based Beacon Insurance Company Limited, which will create one of the largest regional insurance platforms in the English-speaking…
Gemini AI to transform Google Maps into a more conversational experience
Google Maps is heading in a new direction with artificial intelligence sitting in the passenger’s seat. Fuelled by Google’s Gemini AI technology, the world’s most popular navigation app will become a more conversational…
Jamaica’s insured losses from Melissa could reach US$4b, analytics firm says
Verisk Analytics, a global data analytics firm, estimates that insured property losses from Hurricane Melissa in Jamaica could range between US$2.2 billion and US$4.2 billion, but these figures await corroboration from local insurance…
SBAJ wants help from both government and big business post-Melissa
In the wake of Hurricane Melissa, the Small Business Association of Jamaica, SBAJ, is urging the Jamaican government and big businesses to review policies to help micro, small and medium-sized enterprises get back…