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…
Category: Business & Economy
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…
Big diamond country Botswana secures improved 10-year deal with miner De Beers
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…
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…