Travel and tourism interests expect a reduction in tourist arrivals in 2024 but say the flows will still outperform the pre-pandemic benchmark. The sector’s fortunes were affected by Hurricane Beryl in July and…
Category: Business & Economy
Digicel upgraded but under pressure
The financial performance of telecoms Digicel Group has stabilised, with its operations generating over US$14 million in cash for the year, leading to a rating upgrade by Moody’s. Digicel has been alleviated by…
Updated: Magic behind the counter: Fontana ventures into sale of mushroom products supplied by Patoo
Jamaica’s largest pharmacy chain, Fontana, is now selling magic mushroom products but remains silent on whether it will also be expanding into medical marijuana, or cannabis. Psychedelic mushrooms are unregulated but not prohibited…
SBAJ against reuniting with breakaway MSME Alliance
A splinter group that formed a trade association as champion for its own cause is now eyeing a return to the Small Business Association of Jamaica, but the newly installed SBAJ president has…
Magic behind the counter: Fontana ventures into sale of mushroom products supplied by Patoo
Jamaica’s largest pharmacy chain, Fontana, is now selling magic mushroom products but remains silent on whether it will also be expanding into medical marijuana, or cannabis. Psychedelic mushrooms are unregulated but not prohibited…
China opens investigation into EU dairy exports as trade tensions flare
European milk and cheese producers have become the latest target in a simmering trade war with China. The Chinese Commerce Ministry said on Wednesday that it would launch an investigation into subsidies given…
Jetcon mulls used car exit after appointment as sole distributor for BAIC
After adding new cars to its offerings to entice increasingly reluctant used car buyers, auto trader Jetcon Corporation Limited is mulling the possibility of pulling out of the used car market altogether. Three…
Interconnectivity pulls Proven into loss
Proven Group Limited posted a loss after being pulled down by its associate company JMMB Group, which in turn was impacted by its associate Sagicor Financial Company. “The board has decided not to…
BOJ cuts policy rate to 6.75 per cent
The Bank of Jamaica (BOJ) has reduced its benchmark policy rate by 25 basis points for the first time in almost three years, bringing the rate to 6.75 per cent per annum. This…
US settles with billionaire Carl Icahn for using company to secure personal loans
American billionaire Carl Icahn and his company were charged by regulators in the United States with failing to disclose personal loans worth billions of dollars that were secured using securities of Icahn Enterprises…