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  • Indies Pharma adds supplements to business line

    July 11, 2018 4:21 AM 6

    Pharmaceutical distributor Indies Pharma Jamaica Limited has launched a new division that sells supplements. "It is a new division, a herbal division, which is a market that the world is going after - herbal medicines, alternative medicines," said Dr Guna Muppuri, president and CEO of Indies Pharma. "So we realise that there is a great need for this in the Jamaican

  • Indies Pharma IPO hunting $387m

    July 8, 2018 4:43 AM 14

    Montego Bay-based pharmaceutical company Indies Pharma Jamaica Limited plans to raise $387 million in its initial public offering of shares on the junior market of the Jamaica Stock Exchange, amid plans to expand regionally. "In the future, the company intends to deepen its distribution network in Jamaica and throughout the Caribbean through strategic

  • Sri Lanka moves navy unit to Chinese-run port

    July 4, 2018 5:49 AM 12

    COLOMBO, Sri Lanka (AFP) — Sri Lanka will move its southern naval command to a port leased to a State-run Chinese firm, but China will not use it for military purposes, the prime minister's office said Saturday. Colombo's announcement will likely raise fresh concerns in New Delhi over China's military potentially getting a foothold in the Indian Ocean

  • Jamaica Customs wins global WCO photo competition

    July 4, 2018 5:49 AM 9

    The Jamaica Customs Agency (JCA), and by extension Jamaica and the Caribbean Region, copped the WCO 2018 Photo Competition during the 132nd Annual Session of the World Customs Organisation (WCO) Council, held in Brussels, Belgium from June 28 – 30, 2018. The award was presented to Velma Ricketts Walker, CEO/Commissioner of Customs, who was in attendance

  • US demands Glencore documents

    July 4, 2018 4:30 AM 7

    Shares in commodities giant Glencore plunged Tuesday after the company was ordered to hand over documents to the United States Department of Justice for a check on its compliance with corruption and money-laundering rules. The company, which is based in Baar, Switzerland, said Tuesday the requested documents and records relate to its business in Nigeria

  • USVI oil refinery to reopen under deal with ArcLight

    July 4, 2018 4:30 AM 9

    The US Virgin Islands announced Monday that it reached a US$1.4 billion deal to reopen one of the world's largest oil refineries in a move expected to boost the United States territory's economy. Governor Kenneth Mapp said private equity firm ArcLight Capital Partners LLC will restart a refinery in St Croix that closed in 2012. He said more than 1,200 construction

  • Stanley Motta value spikes on property revaluation

    July 4, 2018 4:30 AM 9

    The revived Stanley Motta Limited, developer of the 58 HWT technology park in Kingston, had no substantial income before last year when it reported rental income of $72 million. The company, however, reported a large profit of $853 million, nearly all of which - $843 million - related to book gains from revaluation of property at 58 Half-Way Tree Road, as it heads

  • Iran issues oil warning

    July 3, 2018 5:29 PM 6

    Iran issued a new warning over Mideast oil supplies as the United Arab Emirates said on Tuesday it could increase its own production, the latest remarks to follow Donald Trump's demand for lower global energy prices. The comments by Iranian President Hassan Rouhani and the unexpected announcement by the UAE's oil-rich capital Abu Dhabi came as US benchmark

  • Stanley Motta to raise $4b in IPO

    June 29, 2018 10:09 PM 9

    Stanley Motta, a subsidiary of the Musson Group and developer of the 58 HWT technology park in Kingston, plans to raise $4 billion in equity capital through an initial public offering on the main market of the Jamaica Stock Exchange next week. The IPO is priced at $5.31 per share. Of the 757.8 million shares on offer, 69 per cent will be available

  • Kingston one of the most affordable Caribbean cities for expats

    June 29, 2018 5:27 AM 9

    While many Jamaicans may complain about the cost of living, Kingston is ranked as one of the more affordable global cities for expatriates and one of the least costly in the region, according to a Cost of Living survey by Mercer. From the list of 209 cities on the Cost of Living Survey 2018, where the most expensive city is listed as Hong Kong and Tashkent