Finance Minister Dr Nigel Clarke signed an agreement on behalf of the Jamaican government that could see the completion of as many as 10 major infrastructure projects valued at US$2 billion. The memorandum…
Category: Business & Economy
Thousands of US hotel workers strike for better pay
More than 10,000 workers at 25 hotels in the United States were on strike on Monday after choosing Labor Day weekend to amplify their demands for higher pay, fairer workloads and the reversal…
Online access carves market share off college texts, inspirational book sales
The sale of texts for tertiary education, as well as inspirational books, including Bibles, have plummeted by about 70 per cent over the last few years because of their availability online, according to…
Palace bullish after positive response to 4DX movies
Buoyed by the enthusiastic response to its introduction of immersive 4DX technology, cinema company Palace Amusement is bullish on business, despite a general fall-off in movie-goers. The company is yet to recover fully…
Rebranded Ciboney acquires operational asset amid energy transformation
Innovative Energy Group Limited, IEG, formerly known as Ciboney Group Limited, has acquired a related company for US$17.7 million ($2.8 billion). The agreement with the owners of Innovative Energy Company DBA IEC SPEI…
Bigger hotel investments projected over five years
In an update on the pipeline for new hotels, the Government of Jamaica, GOJ, disclosed in foreign market filings that there are US$2.5 billion worth of projects to be executed over the medium…
New US rules try to make it harder to launder money by paying cash for homes
The United States Treasury Department has issued regulations aimed at making it harder for criminals to launder money by paying cash for residential real estate. Under rules finalised Wednesday, investment advisers and real…
Kroger, Albertsons turn to court to save merger plan
Supermarket chain Albertsons told a federal judge Monday that it might have to lay off workers, close stores and even exit some markets if its planned merger with Kroger isn’t allowed to proceed….
Derrimon to rebrand US grocery stores as Sampars
Derrimon Trading Company Limited will be exporting the Sampars brand to New York, where its two American grocery businesses are currently shuttered amid repairs, and have become a drag on its bottom line….
Mexico City assembly okays strongest rent control since 1940s to fight inflation
The legislature of Mexico City approved the most ambitious rent control law since the 1940s on Thursday, limiting rent increases to the rate of inflation in the previous year. Rents in the vast…