Drummond replaces Sandra Shirley - To take over First Global Financial Nov 1
To take over First Global Financial Nov 1Robert Drummond, who has operated as a project troubleshooter since joining GraceKennedy Limited three and half years ago, was yesterday named to head the group's equities and assessment management arm, First...
Weathering Wall Street - Financial firms say not blown over by US crisis - Jamaican market loses $44b of value in September
Sagicor Financial Cor-poration, the parent firm for Sagicor Jamaica Life Insurance Company and the Pan Caribbean Financial Services Group, yesterday told the Jamaica Stock Exchange that it projects to lose up to US$5.7 million on investments...
Offshore centre won't cave to market turmoil
Faced with a global economic slowdown, Jamaica said this week that it would not dress back from plans to implement an offshore centre, but acknowledged that the timetable would ride on developments in the market. "While I recognise that the current crisis...
Consumption taxes, duties derailed - Spending cut to offset revenue decline
Jamaica's fiscal team is ahead on key performance targets, but also three billion dollars off the mark on tax collections, the Finance Ministry's most recent financial show. At the end of August, the fiscal deficit stood at $19 billion, a narrower gap ...
Furious lobbying for much-maligned US bailout bill - Crucial House vote today
United States President George W. Bush and congressional leaders lobbied furiously Thursday for enough support in the House of Representatives to push the troubled US$700-billion US financial industry bailout bill to the finish line....
Super Plus chain contracts - To close a fifth store in Montego Bay, but expand others
Super Plus Food Stores Limited is stripping the group of its loss-making stores, and says that the business is attempting to grow revenues by concentrating more on services like its cambio operations. Chief executive officer Wayne Chen said yesterday that grocery...
Jamaican remittances weather downturn, for now - Cocking cites family loyalty
The Inter-American Development Bank warned this week that the pace at which remittances once flowed will slow down even more than it originally projected, due to the erosion of the dollar's value, a spike in inflation and the financial meltdown in the United States...
Financial turmoil spells opportunity for regional cap markets
Seismic events have occurred in the world financial markets over the past year. The Caribbean banking and financial system seems to have escaped fairly unscathed, though this is still being assessed....
Lessons to learn
Top on the list is the need for financial managers to go back to simple, basic, common sense risk management principles and practices:1. Do not invest in an instrument or product that you do not understand, especially the more complex structured...
Comprehensive monetary reform needed - Lessons from Keynes in war and financial turmoil
Treasury Secretary Henry Paulson in his three-page rescue plan proposed that his office be authorised to purchase, to make and fund commitments to purchase, on such terms and conditions as determined by the secretary, mortgage-related assets from any financial institution...
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