Norbrook, Pure partners have regional designs for merged ice business

Gleaner on March 22nd, 2019 | File Under Business News -

Norbrook Equity Partners is working on a plan that aims to develop ice supply into a regional market. It starts with the $350 million that the investment holding company Norbrook and its joint-venture partners in Pure National Limited, PNL, are…

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Dairy output grows, but critical care still required

Gleaner on March 22nd, 2019 | File Under Business News -

There was a time when Jamaica was producing nearly 40 million litres of milk per year, but that was nearly three decades ago. Now the dairy sector is doing 12-13 million litres annually, on average, a level it has been stuck at since around 2010….

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Guardian teeing up more developments for New Kingston

Gleaner on March 22nd, 2019 | File Under Business News -

Insurance company Guardian Life broke ground for its second high-rise development in two years, a 176-unit luxury apartment complex costing $4 billion, to be known as The Cambridge. Its first, the 66-unit Hampshire, located in proximity to the…

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Shortlist or selection of BOJ governor expected by September

Gleaner on March 22nd, 2019 | File Under Business News -

A shortlist of candidates for the post of governor of the Bank of Jamaica, BOJ, and possibly a selection, is expected by September so that enough time will be available to make the transition in November this year when the incumbent Brian Wynter…

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US$5 billion in 50 years - Jamaica’s half-century partnership with the IDB

Gleaner on March 22nd, 2019 | File Under Business News -

Jamaica has benefited from, or is in the process of cashing in on, loans and other public- and private-sector development financing from the Inter-American Development Bank, IDB, amounting to more than US$5.1 billion for the 50 years of the bank’s…

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Another big EU fine for Google - Company punished for abusing online ad dominance

Gleaner on March 22nd, 2019 | File Under Business News -

European Union (EU) regulators have fined Google €1.49 billion (US$1.7 billion) for abusing its dominant role in online advertising, the third big antitrust penalty they’ve given the Internet giant since 2017. The latest punishment means the…

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BMW warns profits will fall

Gleaner on March 22nd, 2019 | File Under Business News -

German automaker BMW said Wednesday that profits in 2019 would be “well below” last year’s and that it planned to cut €12 billion (US$13.6 billion) in costs by the end of 2022 to offset spending on new technology. The company said profits would be…

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UK firms step up preparations for a no-deal Brexit

Gleaner on March 22nd, 2019 | File Under Business News -

United Kingdom companies have ratcheted up their preparations for a disorderly no-deal Brexit as best they can over the past couple of months, the Bank of England said Thursday. With the prospect of a chaotic Brexit potentially eight days away, a…

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German gov’t advisers cut growth forecast for 2019

Gleaner on March 22nd, 2019 | File Under Business News -

The German government’s panel of economic advisers nearly halved its German growth forecast for this year to 0.8 per cent — the latest in a long list of downgrades for Europe’s biggest economy. In a regular update Tuesday, the panel cut its 2019…

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Disney closes US$71b deal for Fox entertainment assets

Gleaner on March 22nd, 2019 | File Under Business News -

Disney has closed its US$71-billion acquisition of Fox’s entertainment business, a deal that is likely to shake up the media landscape. Among other things, it paves the way for Disney to launch its streaming service, Disney Plus, due out later this…

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