Demand for commercial real estate in Jamaica is shifting toward warehouse and storage space, with the sector offering returns that are outpacing traditional retail developments. Commercial developments are at times netting single-digit returns…
Category: Business & Economy
PIOJ warns AI adoption will cut working and middle-class jobs
The Planning Institute of Jamaica (PIOJ) said Wednesday that artificial intelligence (AI) will displace clerical and professional workers, but that research continues on the scale of displacement throughout the workforce. “There is still…
Trump pulls back AI vetting order, citing fears of losing lead over China
US President Donald Trump called off a signing ceremony Thursday for a new order on artificial intelligence because he worried it could dull America’s edge on AI technology. Trump said he was postponing…
IFC plans US$10m stake in Sygnus-managed CARICOM Fund
The International Finance Corporation (IFC) plans to invest US$10 million in a Caribbean Community (CARICOM) fund managed by Sygnus Capital Limited, subject to board approval. “The proposed investment comprises a US$10-million equity investment…
Sagicor X Fund cites World Cup travel projections amid broader US booking shortfall
Sagicor Real Estate X Fund Limited has cited industry projections that point to World Cup-related travel growth, which could benefit its hotel portfolio even as bookings across US host cities are running below…
Pension regulator says micro-pension plan unworkable for informal sector
The Financial Services Commission (FSC) has ruled out a state-administered micro-pension scheme for the more than one million workers currently without retirement coverage. A micro-pension is a retirement savings product designed for low-income…
UTech advances plans to slash light bill in half with new solar power installations
The University of Technology, Jamaica (UTech) has launched a tender for solar power installation of at least 2.0 megawatts (MW) with optional battery storage across its Papine and satellite campuses, targeting savings of…
Iran war and Jamaica hurricane cost TUI €61m in half-year results
Europe’s largest tour operator, TUI Group, absorbed €61 million (J$11.2 billion) in combined one-off losses from the Iran war and Hurricane Melissa’s devastation of Jamaica during the first half of its financial year,…
Bank of Jamaica advances plans for new facility beside French Embassy on Hillcrest
The Bank of Jamaica (BOJ) has launched a tender for architectural and engineering consultants to design and oversee the construction of a new business continuity centre (BCC) on a 3.2-acre property near the…
Jamaica seeks new storm bond as hurricane season looms
Jamaica plans to restore its catastrophe bond coverage ahead of the Atlantic hurricane season, according to experts. They expect the country to raise around US$150 million in new parametric protection.