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  • Time to settle an insurance claim

    November 11, 2018 5:19 AM 9

    My car which has third party insurance coverage, is insured with Advantage Insurance Company. On January 28, 2018 my 2008 BMW was involved in an accident with a Ford Everest insured with ICWI. On January 30, 2018 I put in a claim at Advantage but each time I check with them I am told that they are waiting on ICWI for a review of my claim. Could you assist

  • Seprod expanding warehousing space

    November 9, 2018 4:46 AM 8

    Seprod is building out new warehouse space at its main complex in Kingston's industrial zone, which is said to be part of a larger hub that the company will build out over time. Seprod has not disclosed the size of the investment, which is meant to provide space for the Facey Consumer business acquired from the Facey Group for US$53.8 million for cash and shares

  • Two-step rollout for social stock exchange, starting January

    November 9, 2018 4:46 AM 10

    The project to create a social stock exchange in Jamaica will be executed in two phases, the second of which requires the passage of legislation. That, however, will not stall the launch of the project in January when the first component - the Jamaica Social Investment Exchange, or JSIX - which will facilitate fundraising by not-for-profit enterprises

  • NCB reports $28b profit

    November 8, 2018 10:02 PM 14

    NCB Financial Group, the parent company of Jamaica's largest bank, National Commercial Bank, reported annual profit of $28.6 billion on Thursday, a new record for the bank. Earnings rose 50 per cent relative to last year’s profit of $19.1 billion at the bank primarily owned and chaired by Michael Lee-Chin and run by Patrick Hylton. “We attained the highest

  • Lowe gets US$5.75m investment for 20% of cannabis company

    November 5, 2018 7:42 PM 11

    United States-based laboratory Flavocure LLC, founded by Jamaican scientist, Dr. Henry Lowe, has received an investment from Atlas Biotechnologies Inc valued at more US$5.75 million (J$735 million) to further the research and development of pharmaceutical drugs derived from cannabis, according to market filings this week. Canada-based Atlas is part of a legal

  • Jamaica shows improvement in ease of doing business — World Bank

    November 2, 2018 5:32 PM 19

    WASHINGTON, United States (CMC) — Several Caribbean countries, including The Bahamas and Jamaica, have recorded improvements in absolute terms on the ease of doing business, indicating that they are getting closer to global best practices in business regulations, according to a new report released by the World Bank yesterday. The Washington-based financial

  • Dunkin', taking on Starbucks, adds espresso to its menu

    November 2, 2018 5:00 AM 17

    First, Dunkin' dropped the 'donuts' from its name. Now it's adding espresso drinks to its menu. Dunkin' says customers will be able to buy lattes, cappuccinos and other espresso-based hot and cold drinks at most of its 9,200 US stores by the holiday season. It's part of an effort by the Canton, Massachusetts-based company to increase beverage sales - already

  • UDC assets to list on the stock market

    November 2, 2018 5:00 AM 17

    The Government of Jamaica is recruiting a consultant to pick assets held by the Urban Development Corporation, UDC, for transfer to a special holding company. That special purpose vehicle would then be listed on the Jamaica Stock Exchange within two years, by 2020, according to new information that formed part of the procurement notice for the services

  • VM Wealth launches new unit trust products

    November 1, 2018 6:37 PM 23

    Victoria Mutual Wealth Management (VM Wealth), the investment arm of the Victoria Mutual Group, has launched two new unit trust products – VM Wealth International Equity Fund and VM Wealth Money Market Fund. These new products, which are denominated in the US dollar and the Jamaican dollar, respectively, are part of VM Wealth's response to what it said is “the narrowing

  • Sales up but profit down for Caribbean Cement

    October 28, 2018 5:32 AM 16

    Despite stronger revenue performance, Caribbean Cement Company Limited (CCCL) ended its third quarter with less than half the profit it posted for the comparative quarter of 2017. Net profit after taxes for the period amounted to $305 million with earnings per share at $0.36, down $0.52. “The reduction in profit before taxation compared to the same period