Jamaica Gleaner News- Business - Wednesday

Government of Jamaica, bauxite firms haggle over levy - $28-billion stimulus package could grow

The Jamaican government and the owners of the island's alumina refineries and bauxite-mining operations are haggling over what concessions the island will have to provide for firms to stay open in the face of a slump in demand for aluminium."...

FCIB loses value, but Jamaican operation grows profit

FirstCaribbean International Bank has lost value and is now a US$10.9 billion company measured by assets, a near billion-dollar depletion of its balance sheet compared to a year ago. Though still unaudited, the October 31, 2008, balance sheet reflects...

Record low interest rate - Bank rate at zero to 0.25%

THE UNITED States Federal Reserve has cut its target for a key interest rate to the lowest level on record and pledged to use "all available tools" to combat a severe financial crisis and prolonged recession. The central bank on Tuesday said it had reduced ...

Barn Theatre property for sale

A New Kingston property that once used to house one of the capital most iconic cultural centres, the Barn Theatre, is up for sale with a price tag of US$1.9 million (J$148 million), selling agent Century 21 said yesterday...

Inflation down 0.3%

Consumer prices fell in November in line with falling oil prices on the world market. The Consumer Price Index or CPI declined from 136.9 to 136.4, reflecting inflation of -0.3 per cent. The Statistical Institute of Jamaica ...

200 to face tax court in January

The Tax Administration Services Department has issued more than a half a billion dollars in summonses to delinquent taxpayers.In addition, the tax authorities have signalled that they will also be much less forgiving of employers and businesses ...

IDB to double aid to Haiti

The Inter-American Development Bank will double its aid to Haiti next year to help the impoverished nation upgrade its crumbling infrastructure and broaden social programs, the bank's chief announced Sunday...

Investors swap stocks for Caribbean trips

A Caribbean hotelier is offering investors stressed out by the financial meltdown a chance to swap their sinking stocks for sun-drenched beach vacations.Between now and January 31, Elite Island Resorts is accepting reservations for high-end resorts ...

Ecuador defaults on second set of bonds

Ecuador announced Monday that it would default on a second foreign-debt interest payment, bringing to more than US$60 million the amount it is now refusing to pay lenders.The decision was made in a curt announcement on leftist President Rafael Correa's...

At powerhouse summit, the powerful excluded

Forget the promises to tackle economic crisis and climate change. A Latin American summit of 31 leaders that opened on Tuesday was focused on who was not there: the United States or any other outside power...