Slow sales of residences in the latest housing development done by the Jamaican Teas group has left the company ruing the opportunity cost of tying up valuable funds in real estate when it…
Category: Business & Economy
Galapagos Islands at risk from warming waters
Warm morning light reflects from the remains of a natural rock arch near Darwin Island, one of the most remote islands in the Galapagos. In clear, deep blue water, thousands of creatures –…
NCB Financial turns to debt market again for $15b
NCB Financial Group Limited is hunting $15 billion in a refinanced bond offer that almost doubles the interest rate offered three years earlier. The bond offer opened July 22 and closes August 29,…
Proven spends US$6.5m to enter Barbados real estate market
Proven Properties Limited, a subsidiary of Proven Group Limited, announced that it paid US$6.5 million to acquire half of the ownership in a company that owns a five-storey building called ‘One Barbados Place’….
FTC to do market survey on taxi apps
The Fair Trading Commission, FTC, plans to conduct a market survey to assess the adequacy of current regulations governing taxi apps. This move is in response to the emergence of ridesharing services like…
Amber to roll out AI-enabled taxi ride after buying stake in OnTime
Amber Group has entered Jamaica’s public transport sector through a 50 per cent equity stake in OnTime Taxi, which operates a fleet of about 300 cabs. Amber CEO Dushyant Savadia declined to comment…
Brazil to allow miles of selective logging in effort to preserve the Amazon
To combat ongoing destruction in the Amazon rainforest, Brazil announced a plan on Tuesday to dramatically expand selective logging to an area the size of Costa Rica over the next two years. In…
JSE releases green bond guide
The Jamaica Stock Exchange, JSE, has released its green, blue and sustainability bond guidelines to the market, giving brokers a list of additional procedures for such ‘thematic’ investments. “This guide sets the necessary…
MSME Alliance welcomes TOOL programme, but wants loan rates retooled
A new programme under which tradespersons can acquire tools for their occupation will provide financing at interest rates as low as nine per cent, but the MSME Alliance, while endorsing the initiative, believes…
Most airlines recovering from tech outage, Delta still struggling
Delta Air Lines struggled for a fourth straight day to recover from a worldwide technology outage caused by a faulty software update, stranding tens of thousands of passengers and drawing unwanted attention from…