Restaurant and entertainment company KLE Group has offloaded its core restaurant business that consisted of the Usain Bolt Tracks and Records (UBTR) eatery, sports bar and entertainment spot, to associated company FranJam, in a deal that frees the company’s balance sheet of the drag of the loss-making UBTR, while allowing
File CEO of JFP Limited, Metry Seaga Jamaican business stakeholders are urging the local manufacturing and sale of more construction inputs and renewable energy to offset the commodity spikes and supply disruptions resulting from the global economic upheavals caused by the Russian invasion. “We have got to learn to make
The Bank of Jamaica, BOJ, late Tuesday announced its decision to again increase the policy interest rate, which is the rate offered to deposit-taking institutions on overnight placements with the central bank, by 50 basis points to 4.50 per cent per annum, effective March 30. It is the fifth rate
Finance Minister Dr. Nigel Clarke (centre) presides over the annual meeting of the Inter-American Development Bank (IDB) and IDB Investment Corporation (IDB Invest), in Washington, DC in the United States on Monday, March 28 following his election as chairman of the board of governors of the multilateral financing institution and
BANK OF JAMAICA REDUCES MONETARY ACCOMMODATION Bank of Jamaica (BOJ) announces its decision to increase the policy interest rate (the rate offered to deposit-taking institutions on overnight placements with BOJ) by 50 basis points to 4.50 per cent per annum, effective 30 March 2022. The Bank also decided to continue
LONG before the novel coronavirus pandemic, sole proprietor of Goodwill Furnishings Durrant Pate understood the concept of pivoting. After a couple years of operating a wholesale in downtown Kingston, the journalist-turned-businessman, in 2017, decided to make his foray into furniture manufacturing. “The company is… a spin-off from a previous
FINANCE Minister Dr Nigel Clarke has been elected as chairman of the Board of Governors of Inter-American Development Bank (IDB) and the Inter-American Investment Corporation (IIC) for 2022. Dr Clarke's nomination was announced by the governor for Paraguay, Oscar Llamosas Díaz, and seconded by the temporary alternate governor for Canada,
THE United States, one of the world's largest economies, seems set to accelerate movement towards the integration of digital assets as a means of providing financial services, including money and payments. Last week, United States Undersecretary for Domestic Finance Nellie Liang indicated that the US Treasury Department will be issuing
As we continue to explore topics on personal finance, we will explore more concepts related to equity and investments for the everyday investor. These should assist anyone in their investment journey. Dividends — A dividend is simply a company paying a share of its profits to its shareholders. An example
THE National Housing Trust (NHT) is indicating that the recent disclosure by the Government that private lenders will disburse funds on behalf of the trust relates to open market loans only. The clarification came from senior general manager, Construction and Development Division of the NHT, Donald Moore. The NHT
