The mid-sized R Hotel in New Kingston has been listed for sale at a price of US$16.5 million ($2.5 billion). The property is being marketed by Andrew Issa of Coldwell Banker Jamaica, who…
Category: Business & Economy
One On One to roll out AI lesson plan creator
Online education provider One On One Educational Services Limited says it will soon be rolling out its artificial intelligence powered system that will, among other things, make the writing of lesson plans quicker…
JPS promises Cat 5 hurricane resistant grid
Jamaica Public Service Company Limited, JPS, says it is building an electricity grid that can withstand the effect of a Category 5 hurricane should it hit the island. JPS President and CEO Hugh…
Treasury ends rule meant to stop shell company formation
The United States Treasury Department announced it will not enforce a Biden-era small business rule intended to curb money laundering and shell company formation. In a Sunday evening announcement, Treasury said in a…
Fesco retired bond frees up collateral for cheaper loan
Spurred by the need for cash to back continuing expansion and wanting to change its debt profile, petroleum marketing company Future Energy Source Company Limited, which trades as Fesco, retired $700 million in…
Oran Hall | Same type of fund, widely different performance
The names of the funds of collective investment schemes like unit trusts and mutual funds would suggest that funds having the same name, such as money market or equity, are exactly alike and…
NMIA, Sangster airport charges comes under scrutiny
Competition regulator Fair Trading Commission, FTC, is assessing whether travellers are benefiting from price competition at Jamaica’s two major international airports, both managed by Mexico-based Grupo Aeroportuario del Pacífico, GAP, which…
Business as usual, for now, as Infiniti credit union emerges
There are no plans for rationalisation of the branch network just yet, as the new Infiniti Co-operative Credit Union Jamaica Limited, the product of a merger between EduCom and Gateway credit unions, gets…
Big diamond country Botswana secures improved 10-year deal with miner De Beers
The Botswana government signed a new diamond sales agreement crucial to its economy with the De Beers mining company on Tuesday after seven years of negotiations. The deal gives the government an increasing…
BOJ looks beyond sign of recession to growth
Bank of Jamaica Governor Richard Byles views the current dip in economic output as transitory, amid signs of two consecutive quarters of decline. The Jamaican economy contracted by 3.5 per cent in the…