Remittance inflows to Jamaica surged 14.2 per cent in November, marking one of the sharpest monthly increases since the COVID 19 pandemic as the island’s diaspora stepped up financial support following Hurricane Melissa….
Category: Business & Economy
French builder Vinci wins €144-m north coast water project, employing 100
Vinci SA won a €144-million (roughly J$27 billion) contract to build a water pipeline system along the north coast of Jamaica, extending the French construction giant’s 25-year presence on the island. Jamaica’s National…
Fitch maintains negative watch on NCB Jamaica securitisation notes
Fitch Ratings maintained its negative watch on BBB- rated bonds issued by two National Commercial Bank entities, citing continued uncertainty over Hurricane Melissa’s impact on the country’s largest bank. “Fitch maintains rating watch…
Jamaica’s nuclear prototypes within six years amid wider two-decade time horizon
Jamaica’s adoption of nuclear power could be two decades away though working prototypes may emerge within four to six years, according to the professor leading the country’s nuclear energy planning efforts. Professor Charles…
Terra Nova Hotel joins Best Western brand
Terra Nova All-Suite Hotel has partnered with Best Western Hotels…
Sygnus Credit Investments doubles down on Puerto Rico
Sygnus Credit Investments (SCI) is strengthening its push into Puerto Rico. At Wednesday’s annual general meeting, Chief Investment Officer Jason Morris called the US territory the company’s main growth engine, noting two years…
West Indies Petroleum Terminal posts turnaround and doubles annual profit
West Indies Petroleum Terminal Ltd (WIPT) which operates a petroleum storage terminal, doubled annual profit and swung its fourth quarter to a profit, driven by rising third-party storage revenue and higher throughput volumes…
Tank-Weld enters solar distribution market
Tank-Weld Group, the local construction supplier, has launched a solar division to supply panels, inverters and batteries across the Caribbean as demand surges following Hurricane Melissa’s destruction of grid infrastructure in western Jamaica….
Jamaica positioned to benefit from US trade realignment, Wall Street strategist says
Jamaica can capture investment flows from the US as companies restructure their network of suppliers in response to geopolitical tensions, a Wall Street strategist said. John Stoltzfus, chief investment strategist at Oppenheimer Asset…
Vessel offshore Jamaica to test billion-barrel oil prospect this week
A research vessel departed Trinidad last weekend bound for Jamaica to conduct seabed surveys, starting this week, aimed at confirming whether oil-like substances detected beneath the island’s waters are commercially viable crude. “This…