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…
Category: Business & Economy
Oil producers led by Saudis extend supply cuts amid slack prices
Saudi Arabia and allied oil producing countries on Sunday extended output cuts through next year, a move aimed at supporting slack prices that haven’t risen even amid turmoil in the Middle East and…
JCCUL looking to become ‘banker’ to credit unions
JCCUL, the umbrella body which acted as overseer of credit unions, is itself in the process of transitioning to a new role now that the community banks are to be placed under the…
Led by Norbrook, Jamaican group acquires fast-food chains in Panama
A Jamaican investment group, led by Norbrook Equity Partners Limited, has bought into the KFC and Dairy Queen franchises in Panama. Norbrook, backed by JMMB Group, along with minority investors Sygnus Deneb Investments,…
Toyota apologises for cheating on vehicle testing, halts production of three models
Toyota Chairman Akio Toyoda apologised Monday for massive cheating on certification tests for seven vehicle models as the automaker suspended production of three of them. The wide-ranging fraudulent testing at Japan’s top automaker…
Technical issues briefly halt trading for some NYSE stocks in the latest glitch to hit Wall Street
NEW YORK (AP) — A technical issue caused the temporary halt for some stocks listed on the New York Stock Exchange Monday, including at least one whose price briefly fell nearly 100 per…
SVL rebounding from big payouts
Gaming and entertainment company Supreme Ventures Limited, SVL, is already seeing a rebound from its 20 per cent profit decline last year, based on its first quarter results, according to Executive Chairman Gary…
Wehby expects continuing headwinds from rates, inflation
GraceKennedy Group CEO Don Wehby is not expecting the pressures on business from high interest rates and inflation to ease right now. “I really believe that inflation, the biggest monster, we have to…
Petrojam to beef up power facility
Petrojam Limited will replace obsolete and unsafe equipment in the first major upgrade of its power distribution facility since the refinery was established six decades ago. Jamaica’s sole petroleum refinery aims to develop…
Fast internet network coming for underserved areas
The Spectrum Management Authority, SMA, this week announced plans to sell new spectrum for US$24 million to deliver high-speed internet to remote communities. The selected candidate will be given a decade to pay…