The Jamaica Coffee Exporters Association, JCEA, wants the authorities to withdraw the proposed blockchain platform for commodity exports, arguing it will impose over $100 million in costs on stakeholders. Chairman of the JCEA…
Category: Business & Economy
Digicel raising funds to refinance debt
Telecommunication services provider Digicel Group plans to raise US$2.9 billion, most of which is aimed at refinancing existing debt. Rating agency Fitch assigned a ‘B’ rating and a recovery rating of ‘RR4’. Fitch…
Over 200 companies preparing for micro stock exchange
More than 200 local companies are in various stages of preparation for listing on the proposed micro market of the Jamaica Stock Exchange. It will facilitate the raising of $10 million to $49.9…
US automakers say tariff deal with Japan bad for them
American automakers are concerned about US President Donald Trump’s agreement to tariff Japanese vehicles at 15 per cent, saying they will face steeper import taxes on steel, aluminium and parts than their competitors….
Restoring balance
The largest shareholder in Innovative Energy Group Limited, IEG, will start selling down shares over the next six months, starting in August, to restore compliance with Jamaica Stock Exchange rules governing public ownership…
Remittances top $1b year to date
Jamaica’s remittances continue to rise despite uncertainty in key source markets, the latest data from the Bank of Jamaica show. The flows so far this year have topped US$1 billion. “We’re seeing growth…
Ford Foundation’s outgoing president to join Obama Foundation board
Darren Walker’s post-Ford Foundation future is starting to take shape, as the outgoing president is now set to join The Obama Foundation’s board of directors. The Obama Foundation, the Chicago-based non-profit of former…
Chevron gets go-ahead for US$53b Hess deal
Chevron has scored a critical ruling in Paris that has given it the go-ahead for a US$53-billion acquisition of Hess and access to one of the biggest oil finds of the decade. Chevron…
TransJamaican toll operator deploying tech to boost revenue, profit
Buttressed by a near one-third growth at the bottom line, toll road operator TransJamaican Highway Limited is looking to technological upgrades to drive efficiency and deliver even more profit. It’s aiming for 80…
Image Plus acquiring The Woman’s Place
Diagnostic imaging company Image Plus Consultants Limited, which trades as Apex Radiology, is in the process of acquiring the assets and brand of The Woman’s Place, a Kingston-based facility specialising in mammography. Image…