A Jamaican investment group, led by Norbrook Equity Partners Limited, has bought into the KFC and Dairy Queen franchises in Panama. Norbrook, backed by JMMB Group, along with minority investors Sygnus Deneb Investments,…
Category: Business & Economy
Toyota apologises for cheating on vehicle testing, halts production of three models
Toyota Chairman Akio Toyoda apologised Monday for massive cheating on certification tests for seven vehicle models as the automaker suspended production of three of them. The wide-ranging fraudulent testing at Japan’s top automaker…
Technical issues briefly halt trading for some NYSE stocks in the latest glitch to hit Wall Street
NEW YORK (AP) — A technical issue caused the temporary halt for some stocks listed on the New York Stock Exchange Monday, including at least one whose price briefly fell nearly 100 per…
SVL rebounding from big payouts
Gaming and entertainment company Supreme Ventures Limited, SVL, is already seeing a rebound from its 20 per cent profit decline last year, based on its first quarter results, according to Executive Chairman Gary…
Wehby expects continuing headwinds from rates, inflation
GraceKennedy Group CEO Don Wehby is not expecting the pressures on business from high interest rates and inflation to ease right now. “I really believe that inflation, the biggest monster, we have to…
Petrojam to beef up power facility
Petrojam Limited will replace obsolete and unsafe equipment in the first major upgrade of its power distribution facility since the refinery was established six decades ago. Jamaica’s sole petroleum refinery aims to develop…
Fast internet network coming for underserved areas
The Spectrum Management Authority, SMA, this week announced plans to sell new spectrum for US$24 million to deliver high-speed internet to remote communities. The selected candidate will be given a decade to pay…
IMF upgrades forecast for Chinese economy
The International Monetary Fund, IMF, has upgraded its forecast for China’s economy, while warning that consumer-friendly reforms are needed to sustain strong, high-quality growth. The IMF’s report, issued late Tuesday, said the world’s…
Jamaican economy grows 1.9% in March quarter
The Jamaican economy expanded by 1.9 per cent in the January-March quarter, stymied by slowing housing starts, according to preliminary estimates from the Planning Institute of Jamaica. Real estate, a star performer during…
Explorer ramps up pitch on Jamaican oil prospects
The UK company exploring for oil offshore Jamaica has now put a US$70-billion estimate on the value of petroleum reserves likely lying under Jamaica’s waters waiting to be tapped. Were those numbers to…