Cash Plus lands Airlink deal - Grabs majority control of domestic carrier
The Carlos Hill-owned Cash Plus Group reportedly signed off on another major deal on Monday, when it took majority control of domestic air carrier, International Airlink. The value of the acquisition is uncertain at this time. When the Financial Gleaner contacted Cash Plus...
Lascelles boasts increased profits
Boosted by strong gains in its general merchandise and general insurance segments, Lascelles de Mercado and Company Limited recorded an almost nine per cent increase in net profit for the nine-month period ending June 30. The unaudited results showed a net profit of $1.79 billion...
Jamaica to benefit from biodiesel production
Jamaica is now poised to benefit from bilateral arrangements with Brazil in the area of biodiesel production, which is presenting great opportunities for farmers of the country.The establishment of two biodiesel plants is being considered with the assistance of Brazil...
No politician has yet been able to identify the 'magic bullet'
When governments boost spending they essentially have three options to raise the necessary cash. They can raise it through taxes; borrow it; or print it. Printing money doesn't necessarily mean that governments are printing bank notes through the nigh as Zimbabwe's recent...
Independent central bank nothing new - Bank of Jamaica (BoJ) boss
Bank of Jamaica (BoJ) Governor, Derek Latibeaudiere, addressing the issue of the Jamaica Labour Party's (JLP) proposal for an independent central bank, argued that this call was nothing new. He said he has been at his current job for 12 years and has had to address the issue...
Jamaica Chamber of Commerce (JCC) lobbies for downtown-based offshore financial centre
The Jamaica Chamber of Commerce (JCC) has been advocating for the past four years that Jamaica establish an international financial services centre (IFSC) in its capital, saying the country stands to gain economically from this proposition, especially in the area of job creation....
Jamaica an offshore financial
The issue of whether Jamaica should become an Offshore Financial Centre (IFC), as the JLP has suggested in its manifesto, is an issue that requires a debate, so that we can understand what it would mean for Jamaica both in terms of opportunities and any potential perceived....
Wan tipped to join FGFS
Former General manager of Victoria Mutual Wealth Management, (VMWM), David Wan has resigned that organisation and according to sources, is tipped to join GraceKennedy's wealth management arm, First Global Financial Services Limited in a senior capacity....
Decades of gas in Trinidad - But industry leaders wantexploration incentives
Port-of-Spain,Trinidad: Multinational energy companies operating in Trinidad and Tobago see gas resources available in the country over several decades, but have asked government to re-consider their tax regime that is posing a major deterrent for high-cost exploration...
Chin-Mook new Small Businesses Asso-ciation of Jamaica (SBAJ) president
Edward Chin-Mook is now the new president of the Small Businesses Association of Jamaica (SBAJ). He was nominated and selected recently at the SBAJ's annual general meeting held in July when a new executive body was put in place.Chin-Mook holds a bachelor's degree in accounting...
Dell to fess up on real earnings
DALLAS (AP): Computer maker Dell Inc. said yesterday it will reduce more than four years' worth of earnings by up to US$150 million after an internal probe found the company misled its auditors and manipulated results to meet performance goals.
First Global postpones opening of Liguanea branch
Grace Kennedy's First Global Bank has pushed back the opening date for the new Liguanea branch to November, citing the need for more time to prepare."The timing was not right in terms of having all the necessary facilities in place," said Radcliff Daley...
COMMENTARY - FINSAC revisited (Part II)
I begin with a quote from "Jamaica Meltdown: Indigenous Financial Sector Crash 1996": Paul Chen-Young, CEO of the Eagle Group - the first bankrupt entity acquired by FINSAC for $1.00 - presents the case for the financial sector as a victim of circumstances created...
Economy grew in third quarter
The economy continued to show third-quarter growth, which was evidenced mainly in the agricultural and manufacturing sectors according to the Planning Institute of Jamaica's (PIOJ) latest assessment."The overall assessment of the economy showed positive improvement ...
US home construction falls
WASHINGTON (AP): Construction of new homes in the United States fell to the lowest level in more than a decade in July as builders continued to struggle with the steepest housing slump since 1991.The Commerce Department reported yesterday that construction ...
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