Lee Chin to announce AIC asset sale - FLOW could provide J$15b financier needs to pay debts
Michael Lee Chin is close to a deal to sell a company, in whole or part, from among his prized Caribbean investment portfolio, to help AIC Barbados Limited pay off an estimated US$170 million, or around J$15 billion in principal and interest on maturing promissory notes...
Junior market begins with no stocks to trade
The Jamaica Stock Exchange will go ahead with launching its junior market tomorrow, but without any of the 10 firms which the exchange had hoped would be on the board on opening day. But the JSE's general manager, Marlene Street-Forrest, said by moving...
Air Jamaica sales deadline pushed backed to June
Senator Don Wehby has announced a new deadline for privatisation of Air Jamaica, saying the sale is not expected until the end of June.But the minister also said he already had an indicative offer from an airline group, and expected progress...
Carib Cement targets US$17m in export sales
Caribbean Cement Company Limited (CCCL) exported its first shipment of 5,500 tonnes of bulk cement last Saturday under an arrangement with TCL Trading Limited, a related company that the Rockfort cement-maker said is part of its plan to expand into new...
JSE launches mobile stock alerts - Hopes to reach 20,000 through LIME
The Jamaica Stock Exchange, trying to reach more people and ramp up interest in the stock market, disseminated market information via mobile phone for the first time on Tuesday. "The JSE as part of its mission to inform and educate has partnered...
Joel Gordon Banking on relationships - Career forum, Job security in higher education
On Friday, April 3, a forum on the financial crisis and job security in higher education will be staged at the the University of the West Indies (UWI) by the Association of Caribbean Higher Education Administrators, in collaboration with the West Indian Group of University Teachers...
Intralot now a top 10 owner of SVL
Intralot, the Greek gaming systems provider which Supreme Ventures Limited (SVL) is using to manage its planned foray in sports betting, has taken up seven per cent of the Jamaican company's shares, but will eventually grow its holding to 10 per cent...
By thinking 'small', PanCaribbeanBank hopes to grow
PanCaribbeanBank Limited, which began business just eight months ago as a commercial bank, has added just about 1,000 clients to its list and has set a target of another 2,000 customers this year. Run by Philip Armstrong, who took charge of the operation...
Dealers delay fixed income depository - BOJ presses ahead with real-time interbank payment system
Securities dealers are not ready for the central securities depository for fixed-income instruments, which the Bank of Jamaica (BOJ) had committed to implementing two months ago, asked asked for more time to work out kinks in the system before the revised launch date...
Aluminium MOU II possible
Oleg Deripaska, chief executive officer and majority shareholder of UC Rusal, the world's largest alu-minium producer, has spoken publicly of discussions currently taking place with governments on measures to reduce the global capacity of aluminium...
Shaw proposes regional economic stimulus package - IDB seeks additional capital; says 12.5 million at risk of poverty
Jamaica's finance minister, Audley Shaw, pushed this week for donor-backed economic stimulus for vulnerable economies in the region, amid acknowledgement by development financiers that millions more people are falling into poverty....
Chorus grows against global retreat to protectionism - 17 countries break November pledge
With trade tanking at a record rate, the world's most powerful leaders may need to offer more than ritual support for open markets if they are to steady a teetering economy that cannot handle a global retreat to protectionism...