Here to stay - Latibeaudiere says no likely shift in monetary policy
Any suggestion that he would be demitting office as head of the central bank as a result of pending changes to the political administration is totally without foundation and even mischievous, Bank of Jamaica Governor Derick Latibeaudiere said Wednesday....
Flow acquires JACS cable company
The Financial Gleaner understands that Flow has acquired another major cable company serving the Spanish Town and Portmore communities of St. Catherine. Jamaica Amalgamated Cable Systems Limited says it is now owned by Columbus Communications Limited trading as Flow...
Swisscash drops off the radar
Swisscash, an Internet-based investment scheme which advertises itself as a 50-year-old mutual funds company, has disappeared from the radar, Financial Gleaner checks have revealed.The company, which wooed investments with promised returns of 25 per...
New variable rate CD on offer
The Bank of Jamaica (BoJ) has placed another special two-year Certificate of Deposit on the market for sale to dealers, to mop up excess cash in the system. The offer on the variable rate instrument opened for subscription by dealers and commercial banks Thursday...
Moneylender curtailed - Privy Council says no to 240% interest charges
The United Kingdom Privy Council has barred a moneylending agency from selling a piece of Norbrook real estate, in a ruling that is expected to have far-reaching impact on financiers who breach the loan rate ceiling prescribed by the Minister of Finance....
Seprod sells 50% stake in Gatcombe - To refocus on export brands
Seprod Limited is to sell its 50 per cent shareholding in Gatcombe Investments Limited to Musson Jamaica Limited by October 2.The basis of the sale said director of Seprod, and deputy chairman of Mussons, Paul Scott, is to allow Seprod to concentrate on its core business...
Hardware & Lumber to expand chain - Wehby drafting new strategic plan
Hardware and Lumber Limited, a subsidiary of the GraceKennedy group, is looking to build its chain of stores operating under the name Rapid TrueValue in and outside of Kingston. But chief executive officer of GK Investments, Don Wehby, underwhose portfolio the retail operation falls...
Strong performance for GK Investments portfolio
In an exclusive interview with the Financial Gleaner, GK Investments CEO Don Wehby pronounced himself pleased with the performance of the companies that are part of his portfolio. According to Wehby, First Global Bank was doing "very well", and was continuing its planned...
Modelling agency taps bigger profits from fashion and fees
A near doubling of advertising and sponsorship deals has boosted Pulse Investments Limited's profits by 126 per cent to $266.14 million at its financial year ending June 2007.The modeling agency, which is substantially owned by Kingsley Cooper, reported gross turnover...
Rising inflation poses challenge to Trinidad's central bank
PORT-OF-SPAIN, Trinidad:Control of the inflation rate which moved upwards in July for the first time in ten months, continues to pose a major headache for Trinidad and Tobago's Central Bank despite different measures to absorb high liquidity in the market....
Commentary - Subprime rescue may be inevitable
The United States real estate market has been booming for the past seven years at least.As real estate prices kept rising, homeowners found themselves richer in equity. Encouraged to take some of the cash out of their homes, borrowers, lenders and investors all did well...
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