Church’s Texas Chicken will be entering Jamaica’s quick-service restaurant market with its first store scheduled to open at Mall Plaza in Kingston in the third quarter of this year. The Church’s franchise is…
Category: Business & Economy
Fed leaves interest rate unchanged amid rising economic uncertainty
The United States Federal Reserve kept its benchmark interest rate unchanged Wednesday and signalled that it still expects to cut rates twice this year, though the outlook is more uncertain. The Fed also…
New Fortress to reduce Jamaica footprint
Regional natural gas supplier New Fortress Energy, NFE, reported losses of US$234 million for year ending December 2024 as it prepares to sell certain assets in Jamaica, Brazil, and its shipping charters to…
Remittances down for third year
Jamaica recorded a slight 0.4 per cent decline in annual remittance inflows to US$3.36 billion in 2024, marking three consecutive years of decline, according to the Bank of Jamaica, BOJ, which regulates the…
Forever 21 operator files for bankruptcy protection
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…
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…