Jamaica Gleaner News- Business - Wednesday

Audley Shaw, the finance minister, expects multilateral lending agencies to pump over US$1 billion into Jamaica by the end of the financial year in March, and says the projected inflows will help to cushion any fall-out faced by the island from the global credit crisis...

Wray new CAIB chair

Jamaica's Wayne Wray, the president of First Global Bank, has been elected chairman of the Caribbean Association of Indigenous Banks Inc (CAIB) for a two-year term. His executive comprises vice-chairman Robert Le Hunte of the Barbados National Bank Inc...

Progress on agriculture insurance scheme - CGM Gallagher conducting study

Jamaica, backed by World Bank funding, has hired the CGM Gallagher group to conduct a study on whether it is financially feasible to provide insurance coverage for the agriculture sector pummelled by four years of unforgiving storms....

German diplomat opens culinary store

Alexandra Consten, a German diplomat posted in Jamaica for two years, has launched out into business with a culinary-life-style outfit in which she has invested €200,000 (J$20 million). "I am thinking about staying here," Consten told Wednesday Business...

$40 billion in circulation

The Bank of Jamaica says there was less cash floating around the system last week than at the end of November but expects the situation to change as the month progresses. Currency in circulation was estimated at $40.5 billion at December 5...

Brazil booms in third quarter, grows 6.8%

Latin America's largest economy expanded at a blistering pace in the third quarter before the global economic slowdown hit hard in October, Brazil's Government said Tuesday.Growth from July to September was 6.8 per cent higher than in the same period...

Sony to cut 16,000 jobs - As Japan recession deepens

Sony Corp is slashing 8,000 jobs, or four per cent of its global work force, aiming to cut costs by US$1.1 billion a year as an economic downturn and a stronger yen batter profits at the Japanese electronics maker. Japan, meantime, has announced that it fell ...

IATA forecasts US$2.5b loss in '09

The global airline industry can expect a bleak 2009, with sectorwide losses of about US$2.5 billion despite deep cost cuts by United States (US) carriers last year, the International Air Transport Association (IATA) said Tuesday...

Banks cut loan rates, but credit still tight

The cost of loans between banks fell in the United States and across Europe as investors digested last week's big interest rate cuts from the European Central Bank and the Bank of England. The interbank lending rate on three-month loans in dollars...