Spain-based H10 Hotels will convert its Ocean Eden Bay property in Coral Spring, Trelawny, into an adults-only luxury resort under a new brand. Effective November 1, the Jamaican property will be renamed Ocean…
Category: Business & Economy
Purity plans 18-month plant overhaul
Consolidated Bakeries Ltd, which trades as Purity, has warned shareholders it will take production offline at points over the next 18 months as it installs new plant. Also, its second-half results will carry…
Nearly $6 billion worth of SVL shares remain with major holder
Ian Levy, the third-largest shareholder in Supreme Ventures Limited (SVL), has transferred his direct stake in the company to a holding entity of which he remains the beneficial owner. It forms part of…
AI boom heats up Bay Area housing market as wealthy buyers drive demand for high-end homes across US
Here’s another place the artificial intelligence (AI) frenzy is making itself felt: the market for luxury homes. High-income earners, many of them employees at AI companies, are snapping up multimillion-dollar houses in the…
Fast-fashion giant Shein’s shares fall after Hong Kong trading debut that spotlights its China roots
Shares in fast-fashion online retail giant Shein fell as much as 10 per cent after they began trading on Hong Kong’s stock market on Tuesday, after a long delay in the company’s plans…
NCB bond offer draws $11.06b, blowing past target by nearly two-thirds
Investment bank, NCB Capital Markets Limited (NCBCM) has closed a bond offer for NCB Financial Group Limited (NCBFG), attracting $11.06 billion in subscriptions against an initial target of $6.80 billion — exceeding the…
Jamaica now has more Internet subscriptions than people, latest post-Melissa data reveals
The first official telecoms data released since Hurricane Melissa struck Jamaica last October reveals a sector with reduced fixed-line services, but with greater mobile broadband penetration than the population. It represents the first…
Digicel appoints former Telefónica officer as group chief business officer
Digicel Group announced on Monday the appointment of Salvador ‘Salva’ Hierrezuelo as group chief business officer. He brings more than 20 years of experience, and his position became effective on September 1. Hierrezuelo…
BNS flags rising Caribbean mortgage write-downs as parent posts record quarter
The Bank of Nova Scotia (Scotiabank) disclosed slightly higher mortgage impairments in the Caribbean during its July third-quarter on a sequential basis, even as the Canadian parent reported record earnings and revealed steps…
Social media companies are trying harder to know which users are kids
The Meta settlement – with protections the company says could become industry standards – will give the social media giant a year to refine its approach. But the options are limited, and improving…