Jamaica Gleaner Business
Published: Monday Friday | March 13, 2009
Super Plus cash crunch - Eight outlets closed, headquarters sold, three stores on market
Faced with supply creditors taking a hard line, soaring costs, collapsing sales and plummeting profits from its once diversified food distribution business, Super Plus Food Stores has shuttered up to eight of its supermarkets and wholesales, sent 600 workers packing... Read More...
JSE nets fourfold profit
The Jamaica Stock Exchange (JSE) Group, which went public last April and listed on its own exchange, reported a near fourfold increase in profit for the year, to $207.7 million. However, the JSE's bosses acknowledge that not only will such levels... Read More...
E-Services still to get clients' nod for sale deal
ACS Group, the American call centre operator, with business in Asia and the Caribbean, is on line to acquire Patrick Casserly's e-Services Ltd.However, the deal, informed sources say, cannot be finalised until Casserly gets the green light... Read More...
DBJ selling off assets to focus on lending
The state-operated Development Bank of Jamaica (DBJ), says it is accelerating ridding itself of what could be billions of dollars worth of equity it holds as minority and majority shareholder in several businesses. In the process, the DBJ is freeing up staff ... Read More...
Canadian firm exploring south coast seaplane business venture
A Canadian fuel distribution company that 10 months ago launched a small commuter aviation service in its prairie province base of Alberta, is now scouting the possibility of establishing a seaplane operation in Jamaica... Read More...
Tax payment now possible at Paymaster
Paying property taxes and traffic tickets has been made easier with yesterday's launch of Paymaster's $32 million e-government access service.A collaborative effort between the government and the Audrey Marks-led company, the initiative enables members... Read More...
Wall Street, Jamaica meltdown and offshore banking
Economists George Akerlof and Paul Romer, entitled a 1994 National Bureau of Economic Research [NBER] working paper: 'Looting: The Economic Underworld of Bankruptcy for Profit'. They considered why firms in financial services seemed to take such risky decisions. Read More...
Profits to PanJam investors rise
Pan-Jamaican Investment Trust (PanJam), now used primarily as a multi-purpose investment vehicle with stakes in commercial real estate, financial services and retail, reported a 15 per cent rise in stockholders' profit, to $1.142 billion, last year... Read More...
Forbes lowers Lee Chin's rank
CMC: Jamaican-Canadian billionaire Michael Lee Chin has dropped further down in the ranking by Forbes Magazine of the world's richest people.The list for 2009, which was published on Wednesday, showed Lee Chin, who was said to be worth US$1.8 billion... Read More...
FirstCaribbean to open branch in Portmore
Eager to build its business in Jamaica, where it ranks fourth in size among commercial banks, FirstCaribbean International Bank is spending $132 million (US$1.5 million) on a new, modern branch in Portmore, St Catherine, regarded as among the largest... Read More...
JMMB shares to be retained by Trini bank
Canadian-Jamaican billionaire, Michael Lee Chin's stated intention to acquire some assets of the troubled Trinidadian firm, CL Financial, which includes a 40 per cent ownership of Jamaica Money Market Brokers Limited... Read More...
How the BOJ talked big and produced little - Pt I
In response to the current global financial crisis, governments around the world have, and are, putting in place both fiscal and monetary stimuli to mitigate the impact on their respective economies.In Jamaica, our Government has recently announced... Read More...
Keith Senior
Keith senior is a highly respected financial analyst who has worked internationally and has advised the Jamaican government in various areas of its operation. Read More...
Government must focus on tax options in Budget
In the upcoming Budget exercise it is expected that the Government will unveil its plans for an acceleration of its tax reform and competitiveness enhancement programme. The Matalon Report and more recent studies such as the 2006 study by ERI titled Jamaica Read More...
CSME deadline under threat
BELIZE CITY, Belize, CMC: Barbados' Prime Minister David Thompson is suggesting the 2015 deadline for full implementation of the Caribbean Community (CARICOM) Single Market and Economy (CSME) may have to be reviewed, in light of the global economic... Read More...
Billionaire Stanford silent in fraud case
DALLAS (AP): Texas billionaire R. Allen Stanford and one of his top officials have asserted their United States Constitutional right against self-incrimination in the federal government's fraud case against them and Stanford's companies... Read More...
Red Stripe HR director takes on BoJ governor
A senior representative of Red Stripe, one of Jamaica's leading companies, owned by Diageo, is criticising the response of the governor of the Bank of Jamaica, Derick Latibeaudiere, to calls from the Jamaica Manufacturing Association (JMA) to make loans... Read More...
