Doorstep Jamaica, the food delivery app formerly called Cutdiline, has sold a stake in the business to a fund whose minority owner includes Afrobeats artiste Burna Boy. The size of the acquisition was…
Category: Business & Economy
JN Financial inks $2.5b loss, third year in red
JN Financial Group Limited is offloading assets amid its third straight year of losses. The group, known as the largest mortgage lender in Jamaica, sold the bulk of JN Bank UK last September…
Google investors uneasy over AI letdown
Google’s digital ad sales continued to grow at a healthy clip during the past holiday season, but that wasn’t enough to offset investors’ worries about whether its big bet on artificial intelligence will…
Cannabis sector players want law reforms to allow edibles, better performance from CLA
When use of the marijuana plant was decriminalised in 2015, there was excitement that the cannabis industry was going to be the next big thing in Jamaica. But a decade later, the cannabis…
Portland cancels Caribbean Fund III
Portland Private Equity won’t proceed with Portland Caribbean Fund III, which received over US$100 million in capital commitments last year, or about a third of the targeted funds. “It is now in the…
Frontier makes a second bid for Spirit as budget airlines struggle
No-frills, budget airlines often lead the industry in customer complaints, according to government data. So, if one were to disappear, would it be missed by travellers? That is a question United States regulators…
Restaurant Associates Limited opens four new fast food outlets in St Catherine
Restaurant Associates Limited (RAL) has opened four new fast food restaurants in St Catherine — two Popeyes, a Burger King and a Little Caesars. This latest expansion in Angels and Spanish Town further…
Slow sales for Zoukie group’s modular homes
Following the launch of its prefabricated modular home in May last year, DM Equipment Limited has only sold two of the units so far – one each in Lucea, Hanover and May Pen,…
Fund managers shift to real estate and cash
Fund managers in Jamaica still invest more than half of client funds into fixed-income securities, but that figure fell over the year, while investments in real estate and cash grew by double-digits, according…
US tariff threats concern Cargo Handlers
Port services company Cargo Handlers Limited, CHL, cited concerns over global trade tensions but remains positive about its financial outlook. Executive Chairman Mark Hart, when asked to expand on the concerns, responded with…