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Hello, MoneyMax101 readers! Here’s your news review. A summary of some of the biggest local news stories.
$100 million pumped into new Wendy’s Mandeville location
Loop News / Jamaica – Wed Nov 30, 2022Key Takeaway: Wendy’s Mandeville is the third restaurant outside the Corporate Area; the other two are in Braeton, Portmore, and Montego Bay, St James. Will provide 35 jobs
Amazing Concrete plans further expansion
Jamaica Observer / Jamaica – Wed Nov 30, 2022Key Takeaway: Some of its larger portfolio clients include Chukka Adventures, Windalco, J Wray & Nephew, and Moon Palace Jamaica Grande among several others for which it installs decorative coatings on concrete surfaces including walkways, driveways, interior design areas, patios, decks, around pool areas as well as the construction of artificial rocks and waterfalls.
Looking to spend about US$1 million on our upcoming projects in Guyana and locally in Mandeville both of which are respectively timed for completion in June and during the latter part of 2023
Bank of Jamaica extends eCurrency contract
Jamaica Observer / Jamaica – Wed Nov 30, 2022Key Takeaway: The BOJ and eCurrency first entered into a five-month partnership to explore a retail CBDC pilot known as Jam-Dex in August 2021; project development started in April 2022. Amidst plans for full deployemnt the central bank has inked a long-term partnership with eCurrency.
The BOJ earlier disclosed in the Public Administration and Appropriations Committee (PAAC) that few merchants have embraced use of Jam-Dex.
Barita expands investment portfolio
Jamaica Observer / Jamaica – Wed Nov 30, 2022WTD -3.20% YTD +20.14%
JP Farms unlocks drone technology
Jamaica Observer / Jamaica – Wed Nov 30, 2022WTD -1.15% YTD +11.48%
Clarke: Investors to benefit from amendments to Income Tax Relief Act
Jamaica Gleaner / Jamaica – Wed Nov 30, 2022
Mayberry investments floating $5b bond
Jamaica Gleaner / Jamaica – Wed Nov 30, 2022WTD -6.57% YTD +20.17%
TransJamaican to acquire toll road manager JIO for US$16m
Jamaica Gleaner / Jamaica – Wed Nov 30, 2022Key Takeaway: TransJamaican Highway Limited, TJH, will pay US$16.1 million for the acquisition of all the shares in Jamaican Infrastructure Operator, JIO, a French-owned company that manages and operates the East-West toll network on TJH’s behalf, under contract, and collects tolls at all four toll plazas.
TJH said that acquiring JIO, to which it pays fees, would slash costs by over 50 per cent in the first year.
