A United States-based fintech firm is currently recruiting at least 20 software engineers for a project here in Jamaica that will see them earning a starting salary of $10 million per year. But…
Category: Business & Economy
PriceSmart gets approval for Ironshore commercial project
PriceSmart has received approvals to build its third membership shopping outlet in Jamaica, amid growing local sales at double the Caribbean rate. The membership shopping club received planning permission and an environmental permit…
R Hotel on the market for $2.5b
The mid-sized R Hotel in New Kingston has been listed for sale at a price of US$16.5 million ($2.5 billion). The property is being marketed by Andrew Issa of Coldwell Banker Jamaica, who…
One On One to roll out AI lesson plan creator
Online education provider One On One Educational Services Limited says it will soon be rolling out its artificial intelligence powered system that will, among other things, make the writing of lesson plans quicker…
JPS promises Cat 5 hurricane resistant grid
Jamaica Public Service Company Limited, JPS, says it is building an electricity grid that can withstand the effect of a Category 5 hurricane should it hit the island. JPS President and CEO Hugh…
Treasury ends rule meant to stop shell company formation
The United States Treasury Department announced it will not enforce a Biden-era small business rule intended to curb money laundering and shell company formation. In a Sunday evening announcement, Treasury said in a…
Fesco retired bond frees up collateral for cheaper loan
Spurred by the need for cash to back continuing expansion and wanting to change its debt profile, petroleum marketing company Future Energy Source Company Limited, which trades as Fesco, retired $700 million in…
Oran Hall | Same type of fund, widely different performance
The names of the funds of collective investment schemes like unit trusts and mutual funds would suggest that funds having the same name, such as money market or equity, are exactly alike and…
NMIA, Sangster airport charges comes under scrutiny
Competition regulator Fair Trading Commission, FTC, is assessing whether travellers are benefiting from price competition at Jamaica’s two major international airports, both managed by Mexico-based Grupo Aeroportuario del Pacífico, GAP, which…
Business as usual, for now, as Infiniti credit union emerges
There are no plans for rationalisation of the branch network just yet, as the new Infiniti Co-operative Credit Union Jamaica Limited, the product of a merger between EduCom and Gateway credit unions, gets…