Jamaica Business News: Economy, Financial Sector & More ? Jamaica Observer - Business - JamaicaObserver.com


PROVEN aiming to execute new deals through additional public offering

BY DAVID ROSE Observer business writer | Friday, January, 8 2021    

After being on the cusp of its original US$75-million additional public offering (APO), PROVEN Investments Limited (PIL) has returned to the market to raise new capital for its upcoming acquisitions and developments. Read More

Sagicor's X-Fund selling stake in Playa

BY DAVID ROSE Observer business writer | Friday, January, 8 2021    

Nearly two-and-a-half years after entering a transaction with Playa Hotels and Resorts in a deal that was supposed to give parent company Sagicor Group Jamaica (SGJ) greater latitude to regional growth in tourism, Sagicor Real Estate X-Fund is disposing of its stake in... Read More

138SL remains profitable despite UWI going online

Friday, January, 8 2021    

Although half of its financial year (FY) was disrupted due to the novel coronavirus pandemic causing most of the students at The University of the West Indies, Mona, (UWI) to leave its halls, 138 Student Living Limited (138SL) was able to generate $316.8 million in... Read More

Massy Group to provide entrepreneurial support across the Caribbean

Friday, January, 8 2021    

The Massy Group is set to assist entrepreneurial growth throughout the Caribbean by funding newly formed social enterprise, Nudge, to the equivalent of US$1 million. Read More

PROVEN acquires 50.5 per cent stake in Barbados manufacturing company

Friday, January, 8 2021    

Proven Investments Limited (PROVEN) through a recent sale agreement with Massy Properties, a company in the Massy Group has acquired a 50.5 per cent stake in the Barbados-based company, Roberts Manufacturing Limited. Read More

US long-term mortgage rates hit new lows; 30-year at 2.65%

Friday, January, 8 2021    

WASHINGTON, United States (AP) — US long-term mortgage rates declined this week to new record lows for the first week of 2021. Read More

Gordon 'Butch' Stewart — an icon among icons

BY DENNIS CHUNG | Friday, January, 8 2021    

A lot has been said about the late Gordon “Butch” Stewart, and his impact on entrepreneurship and the general development of Jamaica. In my eyes (as I have said in the past), he has had a more positive impact on promoting Jamaica than any prime minister, just like Bob... Read More

Frank Comito steps down as head of CHTA

Friday, January, 8 2021    

Frank Comito has retired as chief executive and director general of the Caribbean Hotel and Tourism Association (CHTA). Read More

BOJ says $190 billion in currency stock issued for December

Friday, January, 8 2021    

The Bank of Jamaica (BOJ) said that for the month of December approximately $190.5 billion in the stock of currency was issued to financial institutions. Read More

US trade deficit jumps to US$68.1 billion in November

Friday, January, 8 2021    

WASHINGTON (AP) — The US trade deficit jumped to US$68.1 billion in November, the highest monthly deficit in 14 years, as a surge in imports overwhelmed a smaller increase in exports. Read More

US services sector grows for seventh-consecutive month

Friday, January, 8 2021    

SILVER SPRING, Maryland (AP) — The US services sector, where most Americans work, grew for the seventh consecutive month in December even as novel coronavirus cases surged through the holidays. Read More

Negril chamber calls for more support amid COVID uncertainty

BY ROSALEE WOOD Observer West writer | Thursday, January, 7 2021    

NEGRIL, Westmoreland - Richard Wallace, president of the Negril Chamber of Commerce, is pleading with the financial institutions and utility companies to renew the support they offered to businesses during the early stage of the coronavirus... Read More

Stocks rally despite protests on hopes for Senate turnover

Thursday, January, 7 2021    

NEW YORK, United States (AP) —Wall Street rallied yesterday on expectations of more stimulus for the economy, although the enthusiasm was dampened by chaotic scenes in Washington as pro-Trump protestors stormed the US Capitol. Read More

Coffee producers to push local consumption

BY BALFORD HENRY Senior staff reporter balfordh@jamaicaobserver.com | Wednesday, January, 6 2021    

Jamaica's coffee industry will be promoting increased consumption of local brew within the island, by both residents and visitors, this year. Read More

Amazon buys jets from airlines to bolster deliveries

Wednesday, January, 6 2021    

SAN FRANCISCO, United States (AFP) — Amazon yesterday announced it bought jets from a pair of airlines, bolstering its delivery network as online shopping booms and travel withers during the novel coronavirus pandemic. Read More


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