Kingston Freeport now ready to accommodate larger ships

Gleaner on February 21st, 2018 | File Under Business News -

Renovation of the first 600 metres of berth under the first phase of the expansion of the Kingston Container Terminal (KCT), being undertaken by operators Kingston Freeport Terminal Limited, is now completed and ready to accommodate Panamax vessels….

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NCB Capital sells partial stake in Knutsford Express

Gleaner on February 21st, 2018 | File Under Business News -

NCB Capital Markets Limited sold roughly 21 per cent of its holding in Knutsford Express Services Limited (KEX) earlier this month for nearly $300 million.The transaction more than covered NCB Capital’s initial investment in the company back in…

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Mortgage bank strikes deal with YP Seaton

Gleaner on February 21st, 2018 | File Under Business News -

Jamaica Mortgage Bank (JMB) says a debt settlement with associated companies Ebony View Limited and YP Seaton & Associates Company Limited on a loan that backed a housing development in St Catherine would substantial reduce its non-performing loans or NPL portfolio…

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Montserrat to test Digital Eastern Caribbean Dollar with virtual currency partner

Gleaner on February 21st, 2018 | File Under Business News -

Premier Donaldson Romeo of Montserrat has signed a memorandum of understanding with a Barbados-based digital currency exchange to create a digital payments system.According to an announcement posted on Facebook, the agreement with Bitt is initially…

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Caribbean Cement to re-enter export market by year end

Gleaner on February 21st, 2018 | File Under Business News -

The US$50-million programme will allow the plant to achieve a capacity of 1.2 million tonnes per year, Donkersloot told the Financial Gleaner.”It must be noted that every step has been taken to ensure that the Jamaican market is well covered and…

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Big loss for GWest

Gleaner on February 21st, 2018 | File Under Business News -

GWest Corporation Limited blamed debt repayment and the cost of taking the company public for the $48.3 million net loss in the third quarter ending December.The loss eroded profit of $65.8 million made by the Montego Bay-based company in the…

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Box maker positions for expansion in 2019

Gleaner on February 21st, 2018 | File Under Business News -

AMG Packaging & Paper Company Limited will use this year to strengthen its core box-making operation, following losses from a short-lived foray into toilet paper, and is already looking ahead to 2019 as the year of business growth…

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GK and partners exploring merchant banking merger

Gleaner on February 21st, 2018 | File Under Business News -

GraceKenndey Limited and its regional partners want a bigger slice of Barbados’ merchant banking sector, but the merger under consideration will be guided by a feasibility study that is under way.Signia Financial Group Inc of Barbados, in which…

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Walmart profit misses, e-commerce cools

Gleaner on February 21st, 2018 | File Under Business News -

Walmart Inc reported a lower-than-expected fourth-quarter profit and wrestled with slower e-commerce sales during the busiest time of the year, signs that underscore the company’s challenges in a fiercely competitive landscape.The news, announced…

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UK vows no ‘Mad Max style’ Brexit

Gleaner on February 21st, 2018 | File Under Business News -

Britain wants to lead a “race to the top” in global standards after it leaves the European Union, Britain’s top Brexit negotiator said Tuesday, saying fears of a ‘Mad Max-style’ economic free-for-all are misplaced.In a speech aimed at allaying…

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