THE International Monetary Fund (IMF) said Jamaica has so far “overperformed on indicative targets and met structural benchmarks” that were set for the Precautionary and Liquidity Line (PLL) agreement reached in March, while…
Category: Business & Economy
Lower demand for credit reports as alternative lenders grow
Although household debt has been on the rise, the demand for credit reports to ascertain the creditworthiness of retail borrowers has been falling, and the Jamaica’s largest bank has a theory as to…
KPREIT hunting globally for distressed assets to buy
To get to its goal of US$100 million in assets by 2025, real estate investor Kingston Properties Limited is looking towards various overseas markets for distressed properties it can snag at cheap prices….
IMF gives positive first review of Jamaica’s two arrangements with the Fund
A team from the International Monetary Fund (IMF) says the outlook for Jamaica points towards continued growth, with inflation expected to return to the midpoint of the central bank’s target range by year…
Stocks Round Up | JSE ends week on losing note
The Jamaica Stock Exchange (JSE) Combined Index closed the week on a losing note on Friday. The slow to moderate trading, ended with an advance/decline ratio of 49/47. The JSE Combined Index declined…
Kingston Wharves to increase capacity to one million containers
Port operator Kingston Wharves Limited plans to increase its yard space by 25 per cent over the next 18 months to handle one million containers. It is part of the ongoing US$60-million investment…
Tank-Weld setting up lumber treatment plant
Construction company Tank-Weld is deepening its lumber operations through a new lumber treatment plant that’s expected to be commissioned by December. Tank-Weld is developing the treatment facility at Rio Bueno, Trelawny, at a…
Battle against poverty
PRIME Minister Andrew Holness has told the World Bank Group and the Inter-American Development Bank (IDB) that he intends to tap their support in helping to reduce poverty in Jamaica, as the next…
Lee-Chin sells $1.5-b worth of NCB shares
It’s been confirmed that a connected party to Michael Lee-Chin sold 22,708,700 shares of NCB Financial Group Limited last Friday for $1.54 billion in one of the largest market transactions in two years….
NCB readies ABMs for roll-out of new notes
The National Commercial Bank (NCB) has announced that some 43 of its over 300 automated banking machines (ABMs) islandwide will be ready to facilitate cash withdrawals of the new banknotes scheduled for roll-out…