News Review: First British Airways Flight from London to Barbados 80% Full, Plus More Airline Announcements – Oct 25, 2020

Hello, MoneyMax101 readers! Here’s your news review. A summary of some of the biggest regional new stories this week.

Key Takeaway: NCBFG rebrands insurance arm. Transitions top exec to the group.


WTD -0.12% YTD -30.62%

Dominican Republic’s economy will fall 6% in 2020: IMF

Dominican Today / Dominican RepublicFri Oct 23, 2020

Key Takeaway: The fall in Dominican GDP will be lower than the average for Latin America and the Caribbean, which the agency estimates at 8.1% for this year


Key Takeaway: ROC released their Q3 this week. YTD they are down compared to last year, but for the Q3 quarter they did pretty well


WTD -12.85% YTD -28.90%

JSE: SEPROD Hits $70, All-Time High – Oct 21, 2020

MoneyMax101 / JamaicaWed Oct 21, 2020

Key Takeaway: The very impressive results from Seprod pushed the stock to a $70 high. The stock however tanked over the next two days 


WTD +2.55% YTD +16.75%

Key Takeaway: Seprod (which axed its loss making Sugar arm) reported strong results this week


WTD +2.55% YTD +16.75%

Wigton mulls raising more capital

Jamaica Observer / JamaicaFri Oct 23, 2020

Key Takeaway: Renewable energy company Wigton Windfarm will definitely be returning to the equities market in the coming months to raise capital for its expansion plans, particularly in Jamaica.

Managing Director Earl Barrett, who made the disclosure, did not indicate the method to be used to source the necessary funds via the equities market, whether by a rights issue or through another public offer.


WTD +11.11% YTD -17.53%

Tropical Battery Company Limited Listing Ceremony

Jamaica Stock Exchange / JamaicaWed Oct 21, 2020

Key Takeaway: Tropical announcing their plans for growth at their listing ceremony.

The plan for the future is to grow in the Caribbean by acquisitions of other battery storage type businesses and hopefully in the next 3-5 years more than double the size of the business.


WTD +4.35% YTD -17.53%

OCM cuts 49 jobs, company cites ‘challenging economic environment’

Loop News / Trinidad and TobagoThu Oct 22, 2020

Key Takeaway: One of T&T’s leading media companies announced job cuts.

The cut affects the Trinidad Express Newspaper, Caribbean Communications Network (CCN) TV6 and other subsidiaries under the parent company. The cuts stand to affect journalists, camera crews and other auxiliary staff. Marketing, sales and other departments were not spared. 


WTD -6.25% YTD -47.06%

Suspension of Tree of Knowledge International Corporation (TOKI)

Jamaica Stock Exchange / JamaicaWed Oct 21, 2020

Key Takeaway: Company suspended from the JSE for non-compliance


WTD -6.25% YTD -47.06%

Lasco Manufacturing Limited Equity Report

Barita / JamaicaTue Oct 20, 2020

Key Takeaway: 38% upside forecasted by Barita


WTD -6.25% YTD -26.44%

Wisynco Group Limited Equity Report

Barita / JamaicaTue Oct 20, 2020

Key Takeaway: Barita forecasting a $17+ price for WISYNCO, saying its about 11% undervalued


WTD +1.74% YTD -29.94%

Labour Force Release – Jamaica : Unemployment Jumps to 12.6% From 4.8%

Statin Jamaica / JamaicaWed Oct 21, 2020

Key Takeaway: The Unemployment Rate for July 2020 was 12.6 per cent, which was 4.8 percentage points higher than the rate of 7.8 per cent for July 2019.

Key Takeaway: Cayman launching a similar digital nomad passport option like Barbados

Jamaican Gov’t raises US$168 billion in new debt

Caribbean Business Report / CaribbeanTue Oct 20, 2020

Key Takeaway: Good that the government was able to complete its fundraising. Its US-Indexed Note that will mature in 2023

Trans Guyana Airways to introduce weekly flights to Barbados

Caribbean Business Report / CaribbeanTue Oct 20, 2020

Key Takeaway: Another airline announcement… starting Nov 1

Car buyers get tax break as Christmas gift – Trinidad Guardian / Trinidad and TobagoMon Oct 19, 2020

Key Takeaway: Potential buyers of some brands of new vehicles will be spared a 30 to 40 per cent price increase up to December 31, 2020, after Finance Minister Colm Imbert yesterday granted a grace period on the new taxes and import duty on private motorcars – essentially giving an early Christmas gift of a break from the new taxes until year’s end.

Flights from London to Barbados on British Airways

eTurboNews / CaribbeanMon Oct 19, 2020

Key Takeaway: Year-round daily service from London Heathrow to Barbados on British Airways relaunched after a hiatus of more than 15 years. First flight 80% full!

JetBlue will operate new Newark-Punta Cana route from November 19

Dominican Today / Dominican RepublicMon Oct 19, 2020

Key Takeaway: It seems flying is the highlight of this week

United Airlines announces new flights to the Caribbean

Caribbean Business Report / CaribbeanMon Oct 19, 2020

Key Takeaway: More airlines announcing flights to the Caribbean

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