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  • Ford to fix coolant leaks in vehicles recalled for fire risk

    January 4, 2018 5:00 AM 18

    Ford says it will repair any coolant leaks that might be found in more than 200,000 recalled vehicles that are at risk of catching fire. The repairs, detailed in company documents posted by United States safety regulators in December, come 10 months after the company said it would only install a coolant level sensor "with supporting hardware and software

  • Olympia Crown listed for sale, owner eyes retirement

    January 3, 2018 4:26 AM 16

    Olympia Crown Hotel, located on Molynes Road near the heart of Half-Way Tree in Kingston, has been placed on the market by owner Robert Forbes. Forbes, 65, who is also managing director for the 92-room hotel, told Gleaner Business that he needed funds for retirement. The property is now two decades old, having opened its doors in 1997. The asking price

  • Allens to keep Wexford

    January 3, 2018 4:26 AM 19

    The Allens purchased the Wexford from Godfrey Dyer in 2006 for an undisclosed price. Since then, they have pursued US$4 million in upgrades, including 20 rooms and seven suites, a parking lot, a new conference centre and the refurbishment of bar, dining, kitchen, laundry and other facilities. The property was advertised within the last three years on various

  • Another high-profile executive departs Sagicor

    December 29, 2017 8:52 PM 19

    Amid rumours that the Playa hotel group has expressed interest in buying hotels owned by Sagicor Group Jamaica, informed sources said Friday that Rohan Miller had separated from the financial conglomerate. Gleaner Business understands that while Miller, the CEO of Sagicor Real Estate X Fund Limited, wanted to continue to grow and expand the hotel portfolio

  • Economy grows by less than 1%

    December 29, 2017 8:54 AM 22

    The Jamaican economy grew by 0.8 per cent when compared to the third quarter of 2016, according to the Statistical Institute of Jamaica (STATIN). The increase was attributed to improved performances in both the services industries which grew 1.0 per cent, and the goods-producing industries, 0.3 per cent. According to Statin, all industries within the services

  • China’s Geely buying stake in Swedish truck maker Volvo

    December 29, 2017 4:15 AM 17

    The Chinese owner of Sweden's Volvo Cars is buying a stake in truck manufacturer AB Volvo, expanding a portfolio of vehicle brands that includes shares in Malaysia's Proton and Britain's Lotus. Geely Holding Group said Wednesday the acquisition of shares from Cevian Capital, a fund manager, would give it 8.2 per cent of Volvo's share capital and 15.6 per cent of voting

  • Mandatory e-filing of small businesses GCT returns in 2018

    December 27, 2017 6:49 PM 21

    Those taxpayers will be required to e-file their general consumption tax (GCT) returns via the Jamaica Tax Portal at, filing that is currently being done by large and medium taxpayers. Small and micro taxpayers are classified by annual total supplies and turnover of $150 million and below. An analysis of data shows that 64 per cent of all GCT returns

  • Wisynco stock to list tomorrow

    December 27, 2017 5:21 PM 19

    NCB Capital Markets, which acted as arranger and broker, reported that more than 60 per cent of all applicants were granted their full allotment. “We have now settled all accounts and are pleased that most persons were able to get what they asked for in terms of shares,” said NCB Capital Markets Assistant Vice President, Herbert Hall. He added that he was heartened

  • Feeding a metropolis: Mexico City's Central Market

    December 27, 2017 5:35 AM 17

    MEXICO CITY, Mexico (AFP) — With hotels, car rental agencies, restaurants and even banks, Mexico City's main fruit and vegetable market, the “Central de Abasto”, is more than just a place to get your groceries -- it is a mini city within a city. The mega-market supplies a vast capital city and its surroundings with produce from its labyrinthine hallways

  • Venezuelans see bitcoin boom as survival, not speculation

    December 27, 2017 4:27 AM 21

    In the last month, John Villar has bought two plane tickets to Colombia, purchased his wife's medication and paid the employees of his start-up business in Venezuela all in bitcoin. As Venezuela's national currency loses value at a catastrophic rate, thousands have begun turning to the world of cryptocurrency to salvage what little value remains from their