Companies are betting on artificial intelligence to increase profits while slashing jobs. For Jamaica, one of the popular usages seems to involve the generation of the content that prefaces financial reports. However, a…
Category: Business & Economy
Fallen crypto mogul Sam Bankman-Fried sentenced to 25 years in prison
Crypto entrepreneur Sam Bankman-Fried was sentenced Thursday to 25 years in prison for a massive fraud on hundreds of thousands of customers that unravelled with the collapse of FTX, once one of the…
FTC: Bank competitiveness improves but concerns remain
Jamaica’s banking sector provides stability but might not be competitive enough, despite improvements in recent years. That, on the face of it, is the upshot of a new study done by Fair Trading…
Indies Pharma earnings dragged by inflation and stock-outs
Pharmaceutical trader Indies Pharma Jamaica Limited’s performance was moderate in the first quarter ended January but below expectations. CEO Guna Muppuri blames inflation for the company’s missed targets. He also points to stock-outs…
Gas prices down $0.25, diesel down $0.60
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 $0.25 to sell for…
Bank fraud complaints triple in 2023
The biggest spike in complaints by bank customers related to concerns about fraud in 2023 comes amid a general rise in dissatisfaction with the level of service provided by banks, according to Bank…
FosRich takes over hardware business in Montego Bay
FosRich Company limited has struck $1-billion deal to acquire a business in Montego Bay, signalling the company’s readiness to start making a serious play for business as a hardware retailer. The energy products…
Boeing CEO to exit in broad management shake-up
Boeing CEO David Calhoun will step down from the embattled plane maker at the end of the year as part of a broad management shake-up on Monday after a series of mishaps at…
Hip Strip to be redesigned with new look
The Jimmy Cliff Boulevard in Montego Bay, popularly called the Hip Strip, will get a new makeover that will see the asphalted streets being replaced with cobbled stones, and trees planted to cocoon…
SRF open to more joint ventures in next investment cycle
Sygnus Real Estate Finance Limited, SRF, has reached the ‘exit and reaping phase’ of its investment cycle on its first round of developments. Chief Investment Officer of Sygnus Capital, Jason Morris, says this…