Sandals CEO Adam Stewart told Bloomberg News that the hotel chain is on an expansion drive and is currently seeking help from international banks to finance this growth. Continue Reading
Construction firm Kier will take a £73m hit in its full-year results after taking the decision to close its Hong Kong and Caribbean businesses, it revealed late June 2017.
The firm is set to close its Caribbean business following the agreement of a final account with an unnamed client on what Kier called “a challenging project”, which is expected to complete “within the next three months”.
In total, the closure of the Caribbean business will have cost Kier £79m, including £23m last year and £56m this year.
Kier said that the moves to close the businesses fit into a wider programme of “portfolio simplification” that it has undertaken since the middle of 2015. This has resulted in it concentrating more on its regional building, infrastructure and housing projects.
As internet customers vie for cheaper online alternatives, internet service providers are courting media companies to own some of the content delivered on their network…in a bid to remain competitive.
A merger would come at a pivotal time in the communications industry, where the giants are scrambling to create entertainment empires to maintain competitiveness as consumers increasingly embrace cheaper, digital alternatives. NYT
Dolphin Cove - An amazing attraction
On Wednesday November 18, 2015, when over J$3 billion was exchanged for 229.7m Dolphin Cove shares, it became very obvious that a major move had been made for the Jamaican-born tourism company. The only person capable of making such a trade would be Stafford Burrowes and family who owns the largest chunk of the fast-growing tourism company. Continue Reading
Red Stripe Beer
Desnoes & Geddes Limited, makers of Jamaica’s famous Red Stripe Beer is being taken over by Heineken International as they now have a controlling stake in the company.
Diageo (headquartered in London) which had a controlling stake in the company (57.87%), sold their shares to Heineken, who also owned (15.45%) of the company separately. As a result, the total shareholdings of Heineken are now over 73% and the company can make an offer for the remaining shares in the company that it does not own. Continue Reading
If everything goes as planned, Digicel will soon be blocking all ads by big online advertising networks such as Google, Facebook and Yahoo, across all its markets in the Caribbean.
Digicel argues are that
- the advertisements are a strain on their network,
- ads slow down the experience for people on their network and as such they want to provide the best experience by reducing the need for a lot of these ads to load, and
- they would also be helping their customers as these ads use as much as 10% of a customer’s data plan. Wow. Continue Reading
Sagicor Financial Corporation
Sagicor Real Estate X Fund Limited is pleased to announce that it proposes to undertake a rights issue of up to 598,134,700 new ordinary shares on the basis of two (2) new ordinary shares for every five (5) ordinary stock units held as at August 17 2015 (“the Record Date”). Continue Reading
Air Jamaica - Soaring to new heights
Jamaica’s Norman Manley International Airport, based in Kingston is being divested by the government. The airport is currently going through a bidding process and a heavy-weight group of investors are one of the forerunners to run the airport. Continue Reading