Kingston Properties Limited, which trades as KPREIT, has stepped up its search for properties in the United Kingdom as it seeks to further diversify its real estate assets beyond markets in the Caribbean…
Category: Business & Economy
US inflation cools, a sign price pressures may be easing
Inflation in the United States eased in May for a second straight month, a hopeful sign that a pickup in prices that occurred early this year may have passed. The trend, if it…
Kingston airport runway upgrade to cost US$66m
The planned addition of a 300-metre safety zone to the runway at Norman Manley International Airport, NMIA, will cost US$66 million ($10.2 billion), funded by PAC Kingston Airport Limited, the entity that manages…
From low-end to luxury
The Urban Development Corporation, UDC, wants a test the viability of building low, middle and high-end homes in seven areas across five parishes, with low-end prices capped at $20 million. The developments can…
Investment firm takes US$1.9b stake in Southwest Airlines
Activist shareholder Elliott Investment Management has bought a US$1.9 billion stake in Southwest Airlines and is seeking to force out the CEO of the airline, which has struggled with operational and financial problems….
No more taxpayer rescue for busted financial firms
Jamaica will introduce new legislation so taxpayers won’t bear the cost of rescuing troubled financial firms. “Do not forget that when an institution fails, and the taxpayer has to draw the cheque, then…
Wigton wins tax argument
Renewable energy company Wigton Windfarm Limited says a 172 per cent spike in annual profit was mostly due to a tax windfall. Because of the tax credits, its earnings for year ending March…
Lasco companies consider merging to grow
Lasco Distributors Limited and Lasco Manufacturing Limited are thinking of merging to combine their cash and grow their business. It could position them to buy large companies and improve how they operate. “It…
Big Lasco affiliates add to earnings, but finco fizzles
Two of the three Lasco-affiliated companies listed on the Jamaica Stock Exchange made higher profit for the financial year ending March 2024, but the financial arm struggled a bit. Lasco Distributors Limited’s profit…
Pan Jamaica exits DomRep water business, buys new juice operation in Spain
Two-and-a-half years after Jamaica Producers Group partnered with Norbrook Equity Partners to acquire Grupo Alaska SA, the two companies have sold the ice and bottled water operation in Dominican Republic. The size of…