The Botswana government signed a new diamond sales agreement crucial to its economy with the De Beers mining company on Tuesday after seven years of negotiations. The deal gives the government an increasing…
Category: Business & Economy
BOJ looks beyond sign of recession to growth
Bank of Jamaica Governor Richard Byles views the current dip in economic output as transitory, amid signs of two consecutive quarters of decline. The Jamaican economy contracted by 3.5 per cent in the…
Flow Jamaica annual revenue climbs to $65b
Flow Jamaica generated US$415 million ($65 billion) in revenue for 2024, marking a 2.5 per cent increase despite disruptions caused by Hurricane Beryl. Mobile subscribers rose by five per cent to over 1.2…
More oil sanctions imposed on Iran
The United States on Monday imposed sanctions on dozens of people and oil tankers across China, the United Arab Emirates, India and other jurisdictions for allegedly helping to finance Iran and its support…
Grange reports movement on entertainment zone projects
After years of delays, the Jamaican government says it is closer to establishing entertainment zones where events can be held without disturbing communities and earnings from the entertainment sector can be maximised. As…
Dolla Financial to raise more funds to grow loan book
Microlender Dolla Financial Services Limited aims to grow its loan book by half, this year, from $4 billion to $6 billion. The company will focus on improving profit as well as raising new…
PIOJ forecasts return to growth in March quarter
The Planning Institute of Jamaica, PIOJ, expects the economy to grow in the March quarter but contract overall for the fiscal year. It comes as the planning agency reported a second consecutive quarter…
Highway commuters pay record $13b in tolls to TransJamaican
Toll road operator TransJamaican Highway Limited racked up revenue of US$82.8 million ($13 billion) from Jamaican commuters traversing the Portmore-May Pen segments of Highway 2000 last year. The collections were up 10 per…
Troubled EV maker Nikola files for bankruptcy protection
Electric vehicle maker Nikola has filed for Chapter 11 bankruptcy protection months after saying that it would likely run out of cash early this year. Nikola was a hot start-up and rising star…
NCB Financial makes $5b profit
NCB Financial Group Limited reported a profit of $5.15 billion for the October-December 2024 quarter on the back of $35.2 billion in revenue compared to $31.3 billion a year earlier. The profit achieved…