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Here's What's Hot on the business scene right now 🔥🔥🔥
Fosrich's debt troubles
Nvidia has authorised another US$150 billion to buy back its own shares, but that doFosrich is asking investors for more time while it tries to fix a multimillion-dollar debt problem.
Fosrich, the Jamaican company known for electrical supplies, lighting and solar energy products, is facing serious financial pressure.
The company has a 900-million-dollar bond paying interest at 12.5% annually. But Fosrich has fallen behind on its interest payments.
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JSE gets US$1.5 million boost for small businesses
More options for entrepreneurs
The Jamaica Stock Exchange is getting a one-point-five-million-US-dollar boost from IDB Lab to help smaller Jamaican businesses raise investment capital.
The funding will support the JSE's Micro Market, creating new opportunities for growing companies to attract investors.
Some 200 businesses are expected to participate, with 40 receiving investment-readiness grants.
Another 25 are targeted to secure external financing, while 10 are expected to list on the Micro Market, raising approximately five million US dollars.
The goal is to give Jamaican entrepreneurs more financing options beyond traditional bank loans.
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Barita's "free money"
Who gets what?
Hundreds of Jamaicans have been lining up for Barita's new BPay cards, hoping to get what they're calling "free money." Social media users have reported receiving as much as 30 thousand dollars, while others have received just one dollar, or nothing at all.
Barita has clarified that it's funding the accounts itself as part of a pilot programme for its new digital wallet.
During this phase, users cannot deposit or withdraw cash. Instead, they can spend funds credited by Barita or receive transfers from other users.
Barita has not announced a guaranteed amount for everyone who signs up.
Fosrich seeks relief on J$900M bond
Behind on interest payments
Electrical and lighting company FosRich is asking bondholders for some breathing room as it restructures its finances.
The company has fallen behind on interest payments on a 900-million-dollar bond and is seeking up to six months of relief.
FosRich recorded losses of more than 444 million Jamaican dollars in the first half of 2026, while revenue fell by nearly half to 812 million dollars.
The company is cutting costs, closing some branches and exploring refinancing options to get its finances back on track.
Shareholders are expected to receive an update at the company's annual general meeting on October 27.
Guyana launches interest free business loans
Zero interest; zero collateral
Imagine getting a business loan with ZERO interest and ZERO collateral!
That's what Guyana is now offering eligible entrepreneurs through its newly launched Development Bank.
The bank began operations on October 5, with an initial capital allocation of approximately 100 million US dollars.
It's offering loans of up to three million Guyanese dollars, or around 14 thousand US dollars, to help small businesses start or expand.
Borrowers won't pay interest or provide collateral. They simply repay the amount borrowed.
The initiative is designed to help more Guyanese entrepreneurs access financing and participate in the country's economic growth.
AI boom drives global trade growth
More than just chatbots
Artificial intelligence isn't just changing how we work. It's also giving global trade a major boost!
According to the International Monetary Fund, global trade grew 8.3 percent between 2023 and 2025.
But without the AI boom, that growth would have been just 4.6 percent.
Trade in AI-related products, including computer chips and servers, surged 29 percent over the same period.
Asian economies are among the biggest beneficiaries of the boom.
But the IMF warns that the benefits could be smaller than expected if massive investments in artificial intelligence don't translate into real productivity gains.
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