The newly created Ministry of Mining and Geology has 30 days to deliver a plan for divesting the Government’s 45 per cent stake in the alumina plant Jamalco – six years after such…
Category: Business & Economy
IEG revenue jumps 70%, but profit falls as project costs bite
Innovative Energy Group’s (IEG) revenue rose 70 per cent in its latest quarter as Jamaican homeowners bought more solar power systems, but the renewable energy company’s profit fell as the cost of preparing…
Flow Jamaica’s $16.1b quarterly revenue still trails pre-Melissa levels
Flow Jamaica booked US$101.8 million (J$16.1 billion) in revenue during the third-quarter ending September, down 5.6 per cent from US$107.8 million a year earlier, as the telecom operator continued to trade below Hurricane…
World Cup delivers $776m sales bump for Supreme Ventures
Supreme Ventures Ltd made the bulk of its rise in revenue from sports betting tied to the football World Cup. Executive Chairman Gary Peart had predicted as much in April, telling investors the…
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From left: Jamaica Tourist Board’s Regional Director for Canada, Angella Bennett, shares a moment with Minister of Tourism Edmund Bartlett; Edna Ray, senior manager for regional sales at Air Canada; Dr Lois Stewart…
FosRich sees opportunity in rebuild
Chief Executive Officer Cecil Foster told shareholders at the company’s annual general meeting that FosRich Company Ltd intends to supply the island’s rebuild. “We want to be in the reconstruction that is taking…
Carib Cement profit falls 1/3rd in third quarter, warns staff about El Niño
Caribbean Cement Company, majority-owned by Mexico based Cemex, sold more cement in the September quarter, but a planned shutdown of its kiln furnace pushed production costs higher, resulting in lower profit. Revenue for…
Meta delays new terms after challenge from Norway media
Meta said it was postponing the rollout of new terms for its business accounts after an outcry from media companies and open-web advocates who said the updated rules would allow the tech giant…
Elite gets buyout offer, directors issue caution
Resource Assets Ltd, a St Lucia-registered company, has offered to buy all of Elite Diagnostic Ltd’s issued ordinary shares at $1.60 each, a price that equates roughly to the medical-imaging company’s book value….
Pay late, rebuild slowly: Jamaica’s prompt payment dilemma
One of the fastest ways to put contractors out of business, slow down work, and earn a reputation as a government nobody wants to do business with is to pay late. Word in…