Kingston Properties Limited, KPREIT, has been forced to write off a US$1.38-million investment following the foreclosure on a United States-based real estate asset, marking a rare setback for the real estate investment trust….
Category: Business & Economy
Lumber to expand operating base as business grows
Lumber Depot Limited is exploring expansion as the retailer grapples with inadequate operating space at its base in Kingston. “We have approached a range of properties that would serve our expansion needs for…
Brazil slaps Trump’s ‘illogical’ tariffs
Brazil’s President Luiz Inácio Lula da Silva on Sunday pushed back against a 50-per cent tariff on Brazilian imported goods to the United States, arguing that it was “political” and “illogical”. Lula said…
Wisynco profit chopped one-fifth by slowdown
Increased costs and a general slowdown in consumer demand spliced into Wisynco Group Limited’s bottom line at year ending June, but the beverage manufacturer and consumer goods distributor says it has since seen…
Oran Hall | Bonds are risky too
Bonds are popular with investors who are keen on the safety of their principal, expecting to receive all of their principal on the maturity date. The experience of some investors, including the elderly…
Fontana paid $854m for Monarch pharmacy chain
Fontana Limited acquired the Monarch chain of pharmacies for four and a half times its asset value, new disclosures about the deal show. The purchase price was $854 million, noted the auditor of…
GK reorganises insurance arm
GraceKennedy Limited has announced leadership changes in its insurance segment, the latest shuffle in the conglomerate’s strategic evolution, according to Steven Whittingham, CEO of GraceKennedy Financial Group Limited. Insurance accounts for…
Amazon’s Zoox launches its robotaxi service in Las Vegas
Amazon’s Zoox on Wednesday launched its robotaxi service in Las Vegas, offering free rides through parts of the entertainment mecca for anyone willing to gamble on the safety of a driverless vehicle. The…
JSE chooses new leader
The Jamaica Stock Exchange, JSE, began the transition to new leadership on Monday, closing out a two-decade run by Marlene Street Forrest, who twice took the Jamaican stock market to world leader status….
Scotia Group reports steady profit, robust loan activity
Banking conglomerate Scotia Group Jamaica Limited, SGJ, posted steady third-quarter profit of $5.6 billion, a gain of just two per cent. There was a downward revision in the group’s pension plan assets by…