Jamaica Gleaner Business
Published: Monday Friday | July 10, 2009
Lee Chin back under pressure - $3b default talks head to July 21 vote
A meeting has been called for July 21 for just over 100 investors holding more than US$36 million (J$3.2 billion) of unpaid matured promissory notes that have become crucial to whether Michael Lee Chin is stripped of assets used to back the bond issue.... Read More...
Marley son invests in coffee, seeking licence to trade - But it's not Blue Mountain certified, says CIB
Rohan Marley, son of the late Bob Marley, working with a partner, has acquired lands in Jamaica for coffee farming and launched Marley Coffee, marrying his father's famous name to another world-class brand, Blue Mountain... Read More...
IMF discussions far advanced
A medium-term eco-nomic programme devel-oped by Jamaica, has gone through several iterations that have been discussed in depth with International Monetary Fund (IMF) technocrats over the past three months, well placed sources have said... Read More...
Carib Cement drops prices but says it's temporary
Hoping to re-energise falling sales, Caribbean Cement Company Limited has lowered the price of cement and is about to go on a nationwide promotional tour to rebuild interest in the commodity. The company said Thursday that 40,000 tonnes of cement are now... Read More...
Rice programme banking on multiple small farms - Tufton sets 25% production target
Agriculture minister Christopher Tufton is eager to expand rice cultivation beyond the 25-acre experiment with the Prosequisa four variety, now being reaped by Jamaica Broilers Group (JBG) at its Amity Hall, St Catherine farm. But Broilers, a billion poultry... Read More...
Movements
Allen heads Caribconsumer council - Dolsie Allen has been elected president of the Caribbean Consumer Council, an advocacy group for consumer protection.Allen, who is chief executive officer of Jamaica's Consumer Affairs Commission... Read More...
Overturned Gillette case narrows payout to two, broadens legal interest
Overturning a Court of Appeal ruling that all ex-employees have a right to share in the windfall, the Privy Council has ruled this week that only the two workers still contributing to Gillette Jamaica's pension scheme... Read More...
JP sets US$50m goal for snacks
Jamaica Producers Group, still in the throes of a major overhaul of its operations, says it intends to more than triple revenue from its JP Tropical Foods business over the next six years, transforming it into a US$50 million (J$4.5 billion) a year enterprise... Read More...
Muted investor demand for Trinidad stocks
Having witnessed the fall of CL Financial Group, one of the largest conglomerates in the Caribbean, investor confidence in Trinidad and Tobago remained relatively bleak throughout the first half of the year.... Read More...
Alcoa posts half-billion 2Q loss - But performance beats estimates
In an unofficial opening to the earnings season on Wall Street, Alcoa Inc reported another quarterly loss but beat expectations and said some markets for the metal may be stabilising.Alcoa is 55 per cent controlling partner in Jamaica's alumina refinery... Read More...
Leaders set temperature goal
The United Nations secretary general has rebuked the Group of Eight leaders for failing to make more commitments to reducing climate change in the near future. Secretary General Ban Ki-Moon also says the G8 must come forward with financing for poorer nations.... Read More...
Free trade back on the agenda
Leaders of rich and developing nations want to finish a long-delayed world trade deal in 2010 and head off trade wars that could worsen global economic troubles, according to a draft of a joint declaration obtained by The Associated Press.... Read More...
Readers respond
JPS should hedge against forex risk - THE EDITOR, Sir:After reading your piece on the JPS revenue shortfall in the online edition of The Gleaner (July 8), I am compelled to write you as to why Jamaican firms are not implementing modern financial... Read More...
