The Bank of Jamaica (BOJ) expects inflation to climb above its six per cent target ceiling for at least two consecutive quarters and warned it stands ready to adjust interest rates if price…
Category: Business & Economy
BOJ holds policy rate at 5.5 per cent
The Bank of Jamaica (BOJ) Monetary Policy Committee (MPC) has unanimously agreed to maintain the policy rate on overnight placements by deposit-taking institutions at 5.5 per cent per annum.
Jamaica Drafts Road Construction Standards as Pothole Crisis Deepens
Jamaica’s state standards body has put forward a comprehensive road construction specification for public comment, a move that comes as billions of dollars in government road repair programmes face persistent criticism over the…
Warehouses in Demand as Kingston Plaza sits Unsold
Demand for commercial real estate in Jamaica is shifting toward warehouse and storage space, with the sector offering returns that are outpacing traditional retail developments. Commercial developments are at times netting single-digit returns…
PIOJ warns AI adoption will cut working and middle-class jobs
The Planning Institute of Jamaica (PIOJ) said Wednesday that artificial intelligence (AI) will displace clerical and professional workers, but that research continues on the scale of displacement throughout the workforce. “There is still…
Trump pulls back AI vetting order, citing fears of losing lead over China
US President Donald Trump called off a signing ceremony Thursday for a new order on artificial intelligence because he worried it could dull America’s edge on AI technology. Trump said he was postponing…
IFC plans US$10m stake in Sygnus-managed CARICOM Fund
The International Finance Corporation (IFC) plans to invest US$10 million in a Caribbean Community (CARICOM) fund managed by Sygnus Capital Limited, subject to board approval. “The proposed investment comprises a US$10-million equity investment…
Sagicor X Fund cites World Cup travel projections amid broader US booking shortfall
Sagicor Real Estate X Fund Limited has cited industry projections that point to World Cup-related travel growth, which could benefit its hotel portfolio even as bookings across US host cities are running below…
Pension regulator says micro-pension plan unworkable for informal sector
The Financial Services Commission (FSC) has ruled out a state-administered micro-pension scheme for the more than one million workers currently without retirement coverage. A micro-pension is a retirement savings product designed for low-income…
UTech advances plans to slash light bill in half with new solar power installations
The University of Technology, Jamaica (UTech) has launched a tender for solar power installation of at least 2.0 megawatts (MW) with optional battery storage across its Papine and satellite campuses, targeting savings of…