Stocks Round Up | 34 stocks advance, 32 decline and 9 trade firm

Gleaner on September 18th, 2020 | File Under Business News -

The Jamaica Stock Exchange (JSE) combined index advanced on Friday with an advance/decline ratio of 34/32. The index moved up by 2,281.48 points or 0.63 per cent to close at 365,814.95. The JSE Main Market Index advanced by 2,608.75 points or…

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Lasco Financial develops cashless e-business platform for MSMEs

Gleaner on September 18th, 2020 | File Under Business News -

Lasco Financial Services Limited, LFSL, has hand-picked a few business operators from within the micro, small and medium-sized sector for a test run of a new tech-driven cashless business model system, designed especially, but not exclusively, for…

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PBS hired to add Internet connectivity to supermarkets

Gleaner on September 18th, 2020 | File Under Business News -

Productive Business Solutions, PBS, which sells printers, scanners and security devices, continues to shift towards technology services, with contracts from a major American retailer to add internet connectivity to supermarkets in five countries…

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Jamaica decides against new oil hedge

Gleaner on September 18th, 2020 | File Under Business News -

Jamaica has decided not to enter into new oil hedging arrangements, given the contraction in the economy, and the country’s costly war with the coronavirus. At the request of Minister of Finance Dr Nigel Clarke, five months ago, the Bank of Jamaica…

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Stocks are pricey. But too expensive?

Gleaner on September 18th, 2020 | File Under Business News -

Yes, stocks are expensive. Most everyone along Wall Street agrees on that following their amazing return to record levels, despite the still-raging pandemic. But whether that’s something to worry about? That’s another question entirely. Analysts…

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Jamaica Broilers sees spectacular growth in US output

Gleaner on September 18th, 2020 | File Under Business News -

Jamaica Broilers Group, JBG, has revealed that its US operations process about one million birds a month in that market, which represents growth of nearly 40 per cent during the pandemic when compared with a year earlier. The poultry group earns…

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Cement market resilient

Gleaner on September 18th, 2020 | File Under Business News -

Caribbean Cement Company Limited may resume cement exports to the region, but says if it does, it won’t be at the expense of the Jamaican market. The cement producer supplies the bulk of the local market from its production facility at Rockfort in…

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Jane Fraser to become Citi CEO - First woman to lead major bank

Gleaner on September 18th, 2020 | File Under Business News -

Citigroup’s Jane Fraser will become the first woman to ever lead a Wall Street bank when she succeeds CEO Michael Corbat in February. Fraser is currently head of Citi’s global consumer banking division, a major part of the bank that oversees…

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Central banking’s next act

Gleaner on September 18th, 2020 | File Under Business News -

When US Federal Reserve Chair Jay Powell delivered his major speech at the Jackson Hole conference of central bankers last month, setting out the results of a year-long review of the Fed’s monetary policy framework, he had stars in his eyes. Not…

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Bank of England eyes sub-zero rates in face of virus, Brexit

Gleaner on September 18th, 2020 | File Under Business News -

The Bank of England indicated Thursday that it could cut interest rates below zero for the first time in its 326-year history as it tries to shore up a UK economic recovery that is facing the dual headwinds of the coronavirus and Brexit. After…

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