The International Monetary Fund, IMF, on Tuesday predicted that Jamaica would register economic growth of 4.3 per cent this year, down from the projected growth of 4.7 per cent last year. It noted that while the Jamaican economy is rebounding, risks to its forecast remain significant. “Renewed COVID-19 waves in Jamaica or abroad could lead […]
PETROPOLIS, Brazil (AP) — The death toll from floods and landslides that swept down on the mountain city of Petropolis rose to at least 117 on Thursday and local officials said it could still rise sharply, with 116 more still unaccounted for. The Rio de Janeiro state government confirmed the rising loss of life, with […]
AMID continued COVID-19 restrictions and other challenges in the local and global environment, the Planning Institute of Jamaica (PIOJ) reported 4.4 per cent growth for the economy between January to December of last year relative to the previous year. The entity, in presenting the preliminary estimates at a quarterly briefing held Wednesday, said that a […]
THE JMMB Group’s growth trajectory continued in earnest with the year to date results more than doubling, surpassing the previous financial year’s performance. This positive performance for the combined three quarters ended December 2021 came about despite the lingering uncertainty and operational challenges brought on by the pandemic. The group posted net profit of $8.82 […]
INFLATION reached a seven-and-a-half-year high in January, stoked by higher costs for “restaurants and accommodation services”, but leaving a headache for the Bank of Jamaica to deal with when its Monetary Policy Committee (MPC) meets on Friday. The Statistical Institute of Jamaica reported on Tuesday that inflation in January reached 9.7 per cent. That is […]
Inflation returned to a new high in January, hitting 9.7 per cent as food prices climbed and floating further away from the target range set by the central bank. With this outcome, it’s likely that the Bank of Jamaica’s Monetary Policy Committee will decide to raise interest rates again for a fourth time, at its […]
ANALYSTS are projecting a smooth process of transfer to take place as Sagicor Group Jamaica (SGJ) seeks to acquire Alliance Financial Services Limited (AFSL). Sagicor announced on Wednesday that it had entered into a definitive agreement for the purchase of 100 per cent of the shares in the AFSL. The agreed purchasing price was, however, […]
PRESIDENT of the Caribbean Development Bank (CDB) Gene Leon is encouraging regional governments to bite the bullet and make investments in renewable energy for the long-term benefits of such undertakings. With Caribbean countries signing on to Conference of Parties agreements aimed at reducing global warming by 1.5 degrees above pre-industrial levels by 2030, many are […]
The data compiled by the CAC through its monthly survey of prices at the pumps show that in the last year, the margin on all four transportation fuel has declined from a range of 23 per cent to 29 per cent above Petrojam’s ex-refinery prices to a lower average mark-up of 16 per cent to […]
THE Seprod Group has released financials showing that last October’s fire at its Facey Commodity subsidiary, Facey, has razed its bottom line, sending profits tumbling 25 per cent to $2.16 billion. The fire wiped out over 86 per cent of the finished goods inventory, which also included the Christmas stocks. The Seprod management explained […]
