The success of the Shorty bread line has prompted baking company Honey Bun to invest a billion dollars in its expansion. A new production facility is to be set up at the MJS…
Category: Business & Economy
Luxury loans drive Dolla’s profit
Microlender Dolla Financial Services Limited made a profit of $419 million at year ending December, bettering the previous year’s performance by 50 per cent as more customers offered up their luxury possessions as…
Tropical Battery ebike venture stalls
Tropical Battery’s expected foray into the electric vehicle market through the distribution of ebikes is in limbo as the energy company awaits clarity from the Jamaican government on its tax policy regarding EVs….
Can AI pay?
Companies are betting on artificial intelligence to increase profits while slashing jobs. For Jamaica, one of the popular usages seems to involve the generation of the content that prefaces financial reports. However, a…
Fallen crypto mogul Sam Bankman-Fried sentenced to 25 years in prison
Crypto entrepreneur Sam Bankman-Fried was sentenced Thursday to 25 years in prison for a massive fraud on hundreds of thousands of customers that unravelled with the collapse of FTX, once one of the…
FTC: Bank competitiveness improves but concerns remain
Jamaica’s banking sector provides stability but might not be competitive enough, despite improvements in recent years. That, on the face of it, is the upshot of a new study done by Fair Trading…
Indies Pharma earnings dragged by inflation and stock-outs
Pharmaceutical trader Indies Pharma Jamaica Limited’s performance was moderate in the first quarter ended January but below expectations. CEO Guna Muppuri blames inflation for the company’s missed targets. He also points to stock-outs…
Gas prices down $0.25, diesel down $0.60
Motorists will pay less for gas and diesel when they go to the pumps on Thursday. The state-owned oil refinery, Petrojam, says E-10 87 is to move down by $0.25 to sell for…
Bank fraud complaints triple in 2023
The biggest spike in complaints by bank customers related to concerns about fraud in 2023 comes amid a general rise in dissatisfaction with the level of service provided by banks, according to Bank…
FosRich takes over hardware business in Montego Bay
FosRich Company limited has struck $1-billion deal to acquire a business in Montego Bay, signalling the company’s readiness to start making a serious play for business as a hardware retailer. The energy products…