News

Port container volumes in Kingston have fallen during the pandemic. The contraction still resulted in Kingston ports outperforming more than half of the other city ports in the Americas, regional shipping data shows. Cargo shipments into Kingston dipped 12 per cent year over year when measured in tonnages, while export tonnages fell 7.0 per cent between January and August, based on data released to the Financial Gleaner by...

After securing another good financial year despite the effects of the COVID-19 pandemic along with increased cost from discontinued operations, Seprod Limited said that the company is further seeking to expand its distribution footprint in the domestic and international markets. Speaking in a livestream of the company’s 81st annual general meeting held on Monday, Richard Pandohie, managing director and chief executive officer (CEO), said that while the business...

The Government of Jamaica’s joint agency initiative, Port Royal 2020, has received support from the Inter-American Development Bank (IDB) to the tune of USD$110,000. This funding will support the continued technical assessment and Master Urban Planning for the town. The Urban Development Corporation (UDC) is the coordinating agency for Port Royal 2020. Formally known as ‘Programa Patrimonio Vivo del BID’ (IDB Living Heritage Program),  the initiative is sponsored financially...

A senior executive at Portland Private Equity (PPE) says that junior market prospect, Tropical Battery has significant runway ahead of it with the transitions taking place in the automotive and renewable energy spaces. Vice-president of Investments at Portland Private Equity, Ricardo Hutchinson has identified future opportunities in the electric car market for Tropical Battery. “The COVID pandemic has served to highlight the key role that Tropical Battery plays...

With the need to adapt quickly to new operational norms brought on by the ongoing COVID-19 pandemic, Jamaican manufacturer Red Stripe says building digital capacity over time has helped the company to pivot faster and craft a crisis-resilient business strategy. Severe disruptions to global supply chains have thrown whole industries off kilter, with many organisations struggling to balance the health and social well-being of their workforce with the...

Nestlé Jamaica Limited (NJL) has announced its re-entry into the powdered milks category, thanks to its recently inked co-manufacturing deal with Dairy Industries Jamaica Limited (DIJL). The agreement has formalised DIJL’s production of Nestlé EveryDay milk powder in its production facility in Kingston since March 2020. The partnership demonstrates Nestlé’s confidence in DIJL’s capacity to deliver both the quality standards and manufacturing expertise needed for the highly competitive...