August 10, 2020 SIL had its most successful financial year in 2019, posting an 88% increase in net profit to $101.17 million (2018: $53.82 million). Additionally, SIL recorded a 91% increase in foreign exchange gains. The Company noted our, “portfolio benefited from the rise in global asset prices (in USD terms) which in turn led to a substantial
Net International Reserves- July 2020 Jamaica’s Net International Reserves (NIR) totaled US$2,758.36 million as at July 2020, reflecting a decrease of US$190.90 million relative to the US$2,949.26 million reported at the end of June 2020 (see figure 1). Changes in the NIR resulted from an decrease in Foreign Assets of US$164.93 million to total US$3,740.09
For the nine months ended June 30, 2020, Barita Investments Limited (BIL) recorded a 91% increase in net interest income, amounting to $836.55 million relative to $436.90 million for the comparable period in 2019. Net interest income for the quarter closed at $296.46 million, 64% above the $180.48 million reported for the prior year’s corresponding
August 7, 2020 Sagicor Group Jamaica Limited (SJ), for the six months ended June 30, 2020, reported that Total Revenues decreased by 9% to $38.85 billion from $42.59 billion in 2019, while for the second quarter, Total Revenues declined 2% to total $22.04 billion compared to $22.47 billion in 2019. Total revenue year to date was
United States: Sharp, Short U.S. Recession Giving Way to Longer-Term Scarring “The pandemic-induced downturn initially had hints of being the sharpest but shortest U.S. recession on record. Now there are increasing signs of economic scarring that resemble past slumps. Beneath a headline number showing a better-than-expected gain in July jobs, the government’s employment report contained
August 7, 2020 The seasonally adjusted initial claims, advance estimate, fell to 1,186,000, a decrease of 249,000 for the week ending August 1 from the prior week's revised level, according to the U.S. Department of Labour (DOL). The prior week's level was revised to 1,435,000 from 1,434,000 up by 1,000. In comparison to the previous week’s average, the 4-week moving average was 1,337,750,
United States: Job Growth Tops Estimates, Signaling U.S. Rebound Is Grinding On “The U.S. labor market continued to regain ground in July, though at a slower pace, indicating the economic rebound is still making headway despite a surge in coronavirus infections. Payrolls increased by 1.76 million in July, beating estimates for a 1.48 million gain
FIRSTROCK Capital Holdings Group (FIRSTROCK)’s total investment income amounted to US$2.76 million (2019: US$404,679) for the six months ended June 30, 2020. Of this, rental income amounted to US$222,302 (2019: nil), while fair value gains on investments totalled US$1.76 million versus US$2,873 reported in 2019. Interest income closed at US$659,572 (2019: US$119,320) for the period
United States: U.S. Treasury Plans a Record $112 Billion Quarterly Debt Sale “The U.S. Treasury expanded its plans for the issuance of longer-term debt in coming months, after depending mainly on shorter-dated bills to fund the federal government’s record spending surge to address the Covid-19 crisis. The department on Wednesday said it will issue a
Consumer Price Index – June 2020 The consumer price index for June 2020 was 105.2 resulting in an inflation rate of 1.4% increase when compared to previous month’s 103.8 price index, according to the Statistical Institute of Jamaica (STATIN). According to Statistical Institute of Jamaica (STATIN), this increase was as result of, ‘Food and Non-
