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Jamaica Gleaner Business
published: Friday | June 8, 2007

Market snaps upnew Air Jamaica bond
Air Jamaica raised its targeted US$125 million on the international capital market on Thursday by way of a Government-guaranteed bond issue arranged by U.S. investment bank Bear Stearns. The bond has a 20-year tenor and is scheduled to mature in 2027, but its average...

Jamaica Producers Group (JP) partners with Dom Rep company in snack factory

The Jamaica Producers Group (JP) is investing US$2 million (J$136 million) in a snack factory under construction in the Dominican Republic, which will target markets across Latin America.The investment is a joint venture...

DB&G merchant bank, Scotia to share deals

Anya Schnoor, CEO-designate of Dehring, Bunting and Golding (DB&G), says Scotiabank has no plans to surrender DB&G's merchant bank licence. The merchant bank will operate as a separate entity within the Scotia Group, she told the Financial Gleaner. "It has a niche market....

BNS declares 2 dividend on preference shares

The Bank of Nova Scotia Jamaica Limited will pay interim dividends of 1.97 cents per stock unit on its redeemable preference shares, covering a two-month period to June 30, the bank said Wednesday. The shares, 100 million of which were listed on the Jamaica Stock Exchange...

Pepsi Jamaica shed debt - Now aims to cut production costs; 'earn its keep'

After racking up an initial US$60 million debt on a long-term loan from parent PepsiAmericas when it purchased the soft drink business from Desnoes and Geddes in 1999, Pepsi Cola Jamaica Bottling Company Limited says it has paid off a substantial portion and is now in a position....

Jamaica Manufacturers Association (JMA) lobbying for a financial ombudsman

The Jamaica Manufacturers Association (JMA) is proposing the creation of an Office of Financial Ombudsman, saying borrowers needed protection from the commercial banks."The unusually wide interest rate spreads that have prevailed regardless of government policies...

Minority opposition fails to sway vote on DB&G directorship

In the face of opposition by a number of minority shareholders, directors of Dehring, Bunting and Golding (DB&G) were forced to poll votes on a resolution to increase the maximum number of directors from nine to 20. The initial show of hands was inconclusive...

Gleaner overseas business stands 'reasonable chance' of a turnaround - Clarke

Chairman and managing director of the Gleaner Company, Oliver Clarke, has reassured shareholders that it is possible to turn around the fortunes of the United Kingdom overseas operations, which sustained losses of $140 million last year.

EU won't demand 'duty-free' access to Caribbean markets - Critical of Jamaica's high cost of business

A European Union (EU) representative in Jamaica, moving to calm fears that duty-free goods from that region would storm the Caribbean come January 1, 2008 has said the 27-member bloc is not expecting full reciprocity on its blanket offer to eliminate duties....

Guyana gives national status to Trinidad's Caribbean Airlines

The Guyana Government will give the Trinidad-based Caribbean Airlines, national flag carrier status, President Bharrat Jagdeo announced Wednesday. Jagdeo said that the move is to improve hassle-free travel for Guyanese forced to be in transit in other Caribbean territories...

Construction quarrel - Chinese contractors favoured over locals in Trinidad

Chinese building contractors are in big demand by the Trinidad and Tobago Government, and are often tagged for major projects over home-grown construction companies, who have been criticised for their inflated bids, poor work ethic, and failing to complete jobs on schedule.

Managing the estate of the mentally ill

The Mental Health Act provides that the nearest relative or the Attorney General of Jamaica may apply to the Supreme Court - or to the Resident Magistrate's Court, if the value of the estate is $250,000or less - to exercise jurisdiction over the management...

Entrepreneurial enthusiasm, a fantastic resource for agriculture

There is great hope for a Jamaica that can grow from internal dynamism, if only the institutional requirements are modernised to accommodate the need for sometimes radical rearrangements. A reader sent me this note that really puts a burden upon me by seeking advice...

Hilton partners with Caribbean real estate company on 15 hotels

The Hilton Hotel Corporation (HHC) has announced an expansion of its alliance with real estate investment company Caribbean Property Group, on 15 new hotels to be developed regionally over the next five years. The financial terms were not disclosed...

DBJ allots NIF loans

The Development Bank of Jamaica Limited has approved over $107.5 million of loans under the National Insurance Fund (NIF) facility, saying yesterday the funds represent its total allotment. DBJ said it processed almost 70 applications for loans ranging...

G8 Summit - Leaders agree on 'substantial' cuts in greenhouse gases

World leaders meeting in Germany have agreed to pursue 'substantial' cuts in greenhouse gases, Chancellor Angela Merkel said yesterday.Group of Eight (G8) powers failed to overcome United States resistance to committing to specific numerical targets to curb global warming...

US, Russia should jointly use Azeri radar - Putin

Russian President Vladimir Putin said yesterday the United States and Russia should use a radar system in Azerbaijan to develop a missile shield that would cover all of Europe."We can do this automatically, and hence the whole system which is being built ...





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