Think tank says ...No to fixed exchange rate - Debate misguided, says King
If Jamaica were to move to a fixed exchange rate regime, it would exacerbate conditions and create an even more unstable foreign exchange market than already exists, a Jamaican think tank said this week. "Until Jamaica is able to achieve and maintain greater fiscal discipline...
Jamaica amending shopping laws
Jamaica is amending laws that govern duty-free shopping to allow travellers to make purchases on entry at the ports, under similar terms as when they depart. The change will allow for purchases of up to US$500 per person without having to pay customs ...
Digicel reports sales of US$1.73b - 2 million more customers worldwide
Digicel Group has grown sales to US$1.73 billion, across 24 regional markets, the company said this week.But while those revenues experienced 11 per cent growth at year end March 2009, they really represent a slowing of sales, which grew 38 per cent...
Big fees a bounty for banks
Last year, National Commercial Bank of Jamaica (NCB) collected $10.5 billion in interest payments on loans to clients. But it also collected $5.9 billion in fees and commissions that are charged against customer accounts and layered atop transactions...
JIIC seeks new growth overseas - Looks to Trinidad, Bahamas for new markets
Jamaica International Insurance Company (JIIC) continues to look outside of Jamaica to grow its business, citing the need for a greater diversification of its risk which the company acknowledges is too concentrated in one country...
US bondsfall on debt load worries
Even the United States government is having a hard time getting a cheap loan nowadays.That's not a good sign for the average American borrower.The Government was forced to lift the yield on 10-year Treasury notes to 3.99 per cent to lure in buyers...
Barita restructures, plans to list on JSE - Unit trust, investment division merged
In an apparent move to consolidate its securities and investment business, Barita Investments Limited is rolling its unit trust company into its flagship brokerage operation, which has the distinction of the being Jamaica's first stockbroker...
LIME triumphs in contempt case
The Supreme Court this week sided with Cable and Wireless/LIME Jamaica, throwing out a charge of contempt of court made by rival Digicel. Digicel in its application had claimed that its rival had breached a previous court order by using confidential...
Technip gets BHP Billiton contract
French company, Technip has been awarded a contract by BHP Billiton for the fabrication, transportation and installation of a flow line and transportation and installation of an umbilical for its Angostura gas project, located offshore Trinidad ...
CARICOM: Killing us softly - a response to Claude Clarke
As Group chief executive officer of one of the few pan Caribbean companies operating in Jamaica, I continue to be distressed by the ill-informed discussions about CARICOM and Trinidad that are going on at present. Misinformation is being piled on...
JCPS locates fertiliser dealer
After almost one year of searching, Jamaica Cane Product Sales (JCPS) has located the Indian company that allegedly pocketed a downpayment on cheap fertiliser without delivering the product. Shreeji Impex Corporation was tracked to Mumbai...
UC Rusal eyes Japanese, Chinese joint-venture partners
United Company Rusal, the world's largest aluminum producer has completed closures that will cut its annual production of aluminum in 2009 by 500,000 tonnes or 11 per cent of total output and does not rule out the possibility of needing to make further cuts...
MOVEMENTS
Aubyn Hill expands horizons - Banker Aubyn Hill who, a year ago, ventured into small business financing, is assuming yet another role - that of overseer of orderly developments....