Beer flattened by inflation
Red Stripe, the Jamaican brewers of beer, has blamed a soft economy that slowed demand and rising cost of inputs, including energy and raw materials, for a 26 per cent decline in the after-tax profit for its financial year to June 30...
Cold war heats up - Venezuela cuts flights for US airlines
Venezuela's aviation agency is cutting the number of flights it will allow US airlines to and from the country, an aviation official said Thursday. Venezuela's National Civil Aviation Institute has informed American, Continental and Delta Air Lines that they will be allowed...
NCB Capital Markets loses another VP
NCB Capital Markets Limited has lost its vice-president for investment, Karlene Bailey, who officially departs the company October 8. Research Manager Joshua Rowe will act in the post until a permanent replacement is identified. The replacement is likely...
Jamaican brothers sign deal with YouTube channel
RealVibez Media, an integrated media and entertainment company owned by two Florida-based Jamaican brothers, has inked a deal with YouTube to run a reggae music/information channel on the popular Internet video site, from which RealVibez will earn advertising revenue...
CMP delisted
The Jamaica Stock Exchange (JSE) has delisted CMP Industries Limited for non-compliance with its rules, effective September 11. The separation was expected by the market.CMP was initially suspended from trading six months ago, after its new owner Castelo Holdings...
Pan Caribbean appoints deputy CEO
Philip Armstrong has stepped up in the ranks at Pan Caribbean Financial Services (PCFS), but he immediately down-played the promotion, saying his new position as deputy chief executive officer (CEO) is just the conferral of the title on responsibilities...
Jamaica marginally worse at courting investors - Taxes and shipping costs heavy burdens
Jamaica has slipped one place in overall rankings for the ease of doing business, and has made no progress in reforming or rolling back heavy corporate taxes in the past year to remain one of the most heavily taxed countries on the globe, according to the latest ...
Palace wrestles down debt, taxes to score a profit - Sells old Rialto cinema property
Cinema operator Palace Amusement Company has climbed out of the red, shaking off millions in losses last year to post net profit of $15.7 million or $10.75 per share at year end June 30. The company also announced the sale of a non-performing asset, the old Rialto Cinema...
Trinidad seals US$2.3b plastics deal
Trinidad and Tobago's goal of establishing a plastics industry with spin-off businesses inched closer with the signing of a US$2.3 billion deal between the government and Dutch company LyondellBasell and Lurgi GmbH earlier this week. The parties will jointly evaluate...
Commentary - Paulson wields bazooka, puts Fannie and Freddie on life support
Inviting shareholders to Fannie Mae's May 20th 2008 annual general meeting held in New Orleans, board chairman Stephen B Ashley told then of the US$40 billion committed to rebuilding in the devastated region. His idea: showcase Fannie Mae's optimism...
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