Forever 21 has filed for bankruptcy protection for a second time and plans to close down its US business as traffic in shopping malls in the United States fades and competition from online…
Category: Business & Economy
Jamalco to invest $11b in capital projects
Bauxite mining and alumina refining company Jamalco will invest US$70.5 million ($11 billion) to extend the life of its mining operations by accessing additional bauxite resources in Manchester, though its plan remains a…
138SL seeking clarity on monies owed by UWI
Student accommodation provider 138 Student Living Jamaica Limited, 138SL, hopes to come to an agreement with its host, UWI Mona, to settle monies owed to the company by the university. Chairman Ian Parsard…
Berger makes aggressive move to deepen coatings market share
Berger Paints Jamaica Limited has invested $130 million in new infrastructure and machinery with the intention of growing share of the paint coatings market. With the commissioning of the new facility, Berger now…
Scotia Group profit up one-third
Banking conglomerate Scotia Group Jamaica Limited, SGJ, achieved net profit of $4.1 billion for its first quarter ending January 2025, up 34.5 per cent year-on-year. The operator of Jamaica’s No. 2 commercial bank…
Tariff war heats up
President of the United States Donald Trump officially increased tariffs on all steel and aluminium imports to 25 per cent on Wednesday, promising that the taxes would help create US factory jobs at…
No importation of eggs despite shortage
No permits will be given for the importation of eggs into Jamaica despite the ongoing shortage, Minister of Agriculture Floyd Green has declared. Speaking at a forum on food security, Green said steps…
Pan Jamaica grows profit to $6b
Pan Jamaica Group Limited made net profit of $6.1 billion, up 63 per cent year on year. The group’s results were generated from revenues of $40 billion, an increase of 38 per cent…
Chinese factories see improved orders as importers rushed to beat tariffs
Chinese manufacturers reported an uptick in orders in February as importers rushed to beat higher tariffs imposed by the United States. The stronger-than-expected data came as Chinese leaders gathered in Beijing for the…
JPS president, energy companies differ on the pacing of renewables adoption
The head of Jamaica Public Service Company Limited, JPS, had cautioned against the quick adoption of renewable energy into the electricity grid, stating that other areas have experienced power outages in their efforts…