Diamondback Energy will attempt to buy rival Endeavor Energy Resources to create an energy giant in the Southwestern United States worth more than $50 billion. Growing confidence in an economic recovery, particularly in…
Category: Business & Economy
NCB fraud backlog cut in half
National Commercial Bank (NCB), the largest bank in the island, said that its backlog of fraud cases under investigation was cut in half after implementing two anti-fraud measures. Also, the parent of the…
FATF ups ante on virtual assets and citizenship by investment
There are new regulations coming for virtual asset providers in Jamaica, which are said to be offshore. In Jamaica, the Financial Services Commission (FSC) is currently conducting a risk assessment on virtual assets…
Jamaica needs deeper understanding of economy – PIOJ
The Planning Institute of Jamaica (PIOJ) launched its Inclusive Growth Index Framework (IGIF) which will track the island’s social and sustainability progress annually, as a means of capturing new growth areas in the…
iCreate’s key shareholders slapped with VM Investments lawsuit
The calling of margin loans associated with the execution of a mergers and acquisition strategy is at the heart of legal action by listed investment house VM Investments against digital media company iCreate….
VM Investments sues companies over unpaid Visual Vibe acquisition loans
VM Investments has gone to court to recover loans associated with the acquisition of billboard advertising company, Visual Vibe. At issue is a set of three loans for which the company has issued…
Middle East conflict affecting key energy lifeline for Europe
FRANKFURT, Germany: Missiles and drones are flying in the Red Sea, disrupting one of the world’s key trade arteries and a chokepoint for energy shipments headed for Europe. Attacks by Yemen’s Houthi rebels…
Influencer economy booms with Bolt at helm
Jamaican influencers can average US$1,000 (J$155,000) per post online but retired sprinter Usain Bolt, with over 14 million followers, can generate 30 times that amount, according to estimates in a state-led publication. Influencers…
Remittances top US$3-billion mark again
The latest remittance data from the Bank of Jamaica (BOJ) indicates that the island topped US$3 billion in inflows again, despite one month being left in the year under review (2023) and despite…
Owners of Russia’s tech pioneer Yandex are selling
FRANKFURT, Germany: The Dutch parent of pioneering Russian tech company Yandex is selling its operations in the country at a steeply discounted price of just over $5 billion to its Russia-based managers and…