American natural gas supplier New Fortress Energy, NFE, racked up record profit of US$548 million year, bettering its previous annual outturn by 180 per cent. “This year was a record by all of…
Category: Business & Economy
Sagicor Group scores $14b profit
Sagicor Group Jamaica Limited, SGJ, has made annual profit of $14.4 billion for its shareholders, recording gains on all its main business segments, except for investment banking due to the continuing effects of…
Wisynco launches big recruitment drive in countdown to August
Manufacturing and distribution company Wisynco Group is looking towards August to wrap up the current multibillion-dollar expansion programme but has already put a new production line into operation. It has also launched a…
Real estate gains fizzle at Barita
Profit at Barita Investments Limited halved to $480 million in the December first quarter from $1 billion a year earlier due to reduced gains from real estate. Still, Barita’s outlook sees the securities…
US economy grew solid 3.2% in fourth quarter, a slight downgrade from government’s initial estimate
The United States economy grew at a robust 3.2 per cent annual pace from October through December, propelled by healthy consumer spending, the Commerce Department reported Wednesday in a slight downgrade from its…
Gas prices down $1.20, diesel down $3.50
Motorists will pay less for gas and diesel when they go to the pumps on Thursday. The state-owned oil refinery, Petrojam, says E-10 87 is to move down by $1.20 to sell for…
Jamaica leads revenue growth for Playa Hotels, hauls in $34b
Hotels operated locally by Playa under the Hilton, Hyatt and Jewel brands generated US$220 million ($34 billion) in revenue during 2023, bettering the previous year by 22 per cent. It comes alongside continuing…
Germany plans to enable underground storage of carbon dioxide at offshore sites
Germany plans to enable underground carbon storage at offshore sites, pushing ahead with a much-discussed technology in an acknowledgement that time is running out to combat climate change, the country’s vice-chancellor said on…
Sales at Musson-owned PBS hit J$51 billion
TECHNOLOGY FIRM Productive Business Solutions Limited (PBS), controlled largely by businessman PB Scott, made US$11.4 million (J$1.8 billion) in profit for its full year ending December, or one-third higher than a year earlier….