Amazon said Monday that it will spend US$20 billion on two data centre complexes in Pennsylvania, including one it is building alongside a nuclear power plant that has drawn federal scrutiny over an…
Category: Business & Economy
Pan Jamaica to offload holdings worth $6b
Pan Jamaica Group Limited will be divesting a mix of listed equities and funds worth about $6 billion, Vice-Chairman and CEO Jeffrey Hall has said. “It’s to remove assets that we do not…
Digicel predicted to deliver US$800m in operating income
Telecommunications services provider Digicel Group received its first major debt rating since restructuring, with expectations for core earnings to reach US$800 million this financial year. Ratings agency Standard…
First Rock moves to regain Hambani Estate lots from Sagicor Bank
First Rock Real Estate Investment Limited announced plans to regain possession of the remaining lots at its Hambani Estate residential complex from Sagicor Bank Jamaica. Hambani Estate is a high-priced, luxury residential development…
Lee Issa to develop multi-family residences in Negril
Businessman and hotelier Elias ‘Lee’ Issa has received approval from the National Environment and Planning Agency, NEPA, to construct a multi-family development in Negril. While details on the project are sparse, the approval…
Meta turning to nuclear power for AI needs
Meta Platforms has cut a 20-year deal to secure nuclear power to help meet surging demand for artificial intelligence and other computing needs at Facebook’s parent company. The investment with Meta will also…
Bullish on minerals
Companies prospecting for minerals in Jamaica are optimistic that they will find gold and copper in viable quantities, similarly to how gold was found in neighbouring Dominican Republic and is contributing significantly to…
VMIL inks loss but cuts debt
VM Investments Limited, VMIL, reported losses for the March first quarter amid global tensions, but deleveraged in the process. The loss of $32.5 million, compared to profit of $510 million a year earlier,…
Judge wrestles with far-reaching remedy in Google antitrust case
The fate and fortunes of one of the world’s most powerful tech companies now sit in the hands of a United States judge wrestling with whether to impose far-reaching changes upon Google in…
GK touts digital business to counter costs and expand
After posting strong performances in most of its operating segments, and for the group overall, GraceKennedy Limited is moving to address the continuing decline in profit from money services. While the food division,…