Business Report: Jan 12

Outlining The Road To Development In Montego Bay

 In a pivotal step towards addressing longstanding challenges in Montego Bay, the completion of the Montego Bay Perimeter Road Project is poised to usher in a new era of growth and investment in St. James. Prime Minister Andrew Holness, during a recent site visit, emphasized that the 10.5km bypass is not just about asphalt but aims to alleviate traffic congestion, boost productivity, and enhance connectivity.

The project, contemplated for over 15 years, promises positive implications for transit times within the town, aiming to tackle Montego Bay’s position as the second most congested place in Jamaica. The incorporation of fiber optic cable channels aligns with the city’s burgeoning status as a major business process outsourcing hub, facilitating further expansion in the sector. Additionally, upgraded drainage systems are expected to mitigate recurrent flooding issues.

Jamaica Nuclear Engineering Pilot Bootcamp

Last year’s Jamaica Nuclear Engineering Pilot Bootcamp, spearheaded by Jamaican nuclear engineer Dr. Charlyne Smith, showcased a pioneering initiative to introduce students to a field of study previously unavailable in Jamaica. Featuring guest lecturers from esteemed organizations, including the Massachusetts Institute of Technology, the boot camp aimed to catalyze curiosity and broaden perspectives on nuclear science and engineering. The visible excitement among participants suggests that Dr. Smith’s vision to unlock the genius of Jamaica’s youth in the STEM field is gaining traction.

Business News At 7 (Jan 12, 2024)

The JSE Main Market Index  Advanced By 3,015.95 Points Or 0.94 % To Close At 322,238.80

The JSE Composite Index Advanced By 3,718.84 Points Or 1.04 % To Close At 359,839.19

Overall Market Activity

• 52 Stocks Traded
• 26 Advanced
• 17 Declined
• 9 Traded Firm

Winners:

• General Accident Insurance Company (Ja) Limited 8.96%
• 138 Student Living Jamaica Limited 5.58%
• Mayberry Jamaican Equities Limited 4.61%
• Ncb Financial Group Limited 3.01%

Losers:

• Jamaica Public Service Co. Ltd. 7% (-14.65%)
• First Rock Real Estate Investments Limited  -9.79%
• Pulse Investments Limited -6.50%
• Ciboney Group Limited -5.00%

Market Volume Amounted To 15,156,786 Units Valued At Over $376,095,946.00.

Volume Leaders

• Wigton Windfarm Limited Ordinary Shares With 4,959,952 Units (32.72%)
• Gracekennedy Limited With 3,289,510 Units (21.70%)
• Carreras Limited With 2,464,563 Units (16.26%)

Boj Currency Trading

• US Dollar Buy  154.60    Sell 156.11
• Great Britain Pound Buy  194.43   Sell 197.43
• Canada Dollar Buy  114.77  Sell 117.06
• Euro  Buy 160.64  Sell  173.24

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