Jamaica Gleaner Business
Published: Monday Wednesday | May 13, 2009
Minority shareholders kill Pegasus vote
Minority shareholders of Pegasus on Tuesday shut down an attempt by National Hotels and Properties (NHP) to amend the procedures used to select the hotel company's board.In anticipation of a defeat, the NHP had warned that one of its options would be selling the hotel... Read More...
JP makes $2.8b loss - But first quarter signals turnaround - Agri-processor launches new snack line
Jamaica Producers Group has careened further off-track, with a massive net loss of $2.86 billion, a near sixfold decline, in its financial position at yearend December 31.But it was not so much the size of the loss, but the misfortunes of one of its... Read More...
'Priority four' bidders for SCJ assets - US company going after Petrojam Ethanol, 3 factories
Government has failed in its effort to offload the loss-making Sugar Company of Jamaica (SCJ) as a single entity, Wednesday Business sources have confirmed. The assets of the five state-owned sugar factories that make up the SCJ are now expected ... Read More...
Gill walks out of CRNM - Unhappy with diminished authority
Unhappy with decision by Caricom's leaders to diminish the autonomy and authority of their trade negotiating body by making a unit to the community's Guyana-based secretariat, Henry Gill has decided to walk away as head of the Caribbean Regional Negotiating Machinery... Read More...
General Tool going out of business - Lerners shutters three stores
After 20 years in operation, General Tool and Supply Company Limited is shuttering its doors, laying off 18 staff in the process. The closure of the store was advertised on the weekend with the company offering up to 80 per cent discount on remaining stock... Read More...
Red Stripe sales still falling, but profit grows 29 per cent
Desnoes and Geddes Limited, trading as Red Stripe, clawed $1.1 billion of profit from sales during the nine-month period ending March 31, which amounted to an additional $150 million of net income over the previous year, notwithstanding a seven per cent... Read More...
No takers for Marubeni bond offer
MaruEnergy Trinidad's (MET) offer to buy back its outstanding 7.017 per cent notes seven years before maturity was not taken up by bondholders. The offer closed May 7 "with no notes validly tendered and accepted for purchase by MET... Read More...
CLICO Guyana gets US$15mlifeline from petroleum fund
Guyana is to get a US$15-million drawdown from the Caribbean Petroleum Fund (CPF) that President Bharrat Jagdeo says will be used to shore up policyholders of Colonial Life Insurance Company (CLICO). Jagdeo said he lobbied regional leaders during the Fifth Summit ... Read More...
Digicel challenges service monopoly
Digicel Group, a Caribbean mobile phone company, is challenging a United States-owned firm's monopoly over international cellphone calls in the South American nation of Guyana. Digicel says it is missing out on millions of dollars because its nearly 300,000 subscribers... Read More...
Janice Robinson-Longmore - An investment banker solving tough problems
Janice Robinson-Longmore, vice-president, funds administration of First Global Financial Services (FGFS) since September 1, 2006, is a chartered financial analyst with over fifteen years of knowledge and experience ... Read More...
Swine flu a windfall for some Caribbean tourist spots - Big lines reroute cruises up to mid-June
The cruise Zenaiva Cervantes booked was to stop in sun-drenched beach cities on the Mexican Riviera.The cruise she took landed her in Seattle instead, where she pulled her arms tightly to her chest ... Read More...
World tourism still in decline
World tourism continued its downward slide in 2009 with international tourist arrivals declining by nearly eight per cent because of the global economic crisis, the World Tourism Organisation said Tuesday."We are still living in a situation... Read More...
