Jamaica Gleaner Business
Published: Monday Friday | August 14, 2009
Remittances plunge - Flow dips to three-year low
Remittance inflows to Jamaica have already dropped close to 16 per cent since January, and a multilateral agency is predicting that money transfer markets will continue to slide and that the drop would be widespread across Latin America and the Caribbean region... Read More...
Latibeaudiere knocks S&P rating
In language echoing that of other senior government officials, central bank governor Derick Latibeaudiere branded Standard & Poor's downgrade of Jamaica as premature and unwarranted, and suggested that the rating agency misinterpreted talks the government... Read More...
PetroCaribe worries - Golding hopeful Venezuela may scale back proposal for more oil money up front
KINGSTON, Jamaica (AP): Jamaica's prime minister said Thursday he is hopeful Venezuela may scale back a proposal to require more money up front from nations buying oil on preferential terms under its PetroCaribe programme... Read More...
Antigua gets US$50m from ALBA to pay state workers
ST JOHN'S, Antigua (AP): Antigua has received US$50 million from a regional trade bloc to help pay back wages of public employees as the island battles a financial crisis, officials said Thursday.The money comes from a bloc called ALBA, pioneered by... Read More...
Chen sells New Kingston property to NCB
National Commercial Bank (NCB) of Jamaica is buying a two-acre property in New Kingston from Super Plus, a company run by one of its seated board members and half-brother to the principal owner of the bank. The Wayne Chen-led Super Plus up to April this year operated... Read More...
Jamaica's fiscal woes at heart of downgrade
Much of the discussions on the S&P rating downgrade from B- to CCC+ suggest it was premature, given that in recent months Jamaica's credit profile has improved steadily.
In particular, commentators point to the relative stability in the foreign exchange market... Read More...
Central bank more bullish on Jamaica's prospects - Amends inflation target downwards
Jamaica's central bank has maintained its forecast for a decline in output of between three and four per cent this fiscal year, but said that inflation could be up to two percentage points lower than... Read More...
Slow road to digital switch-over - Cable groups mum; Flow ahead but network coverage behind
Jamaica has begun the process to go fully digital in radio and television broadcasting, but with no national digital switchover (DSO) policy in place and the necessary research yet to be done, broadcasting regulator, the Broadcasting Commission says no timeline ... Read More...
BOJ interest rate policy 'absolutely correct' - central bank chief
Derick Latibeaudiere believes that recent downward movements in domestic interest rates represent a vindication of his policy of a slow, measured reduction of rates - a stance that was the source of tensions earlier this year between the central bank... Read More...
La Maison sets up shop in MoBay
La Maison Property Services Limited has expanded into Montego Bay to meet what it says is the demand for high-level professional services as real estate developments climb in the western end of the country."Some of what we offer... Read More...
Commentary - Protection from the unscrupulous
I wanted to bring this matter to your attention last week, but could not for lack of space. The issue is so important though, I decided I had to consider and share its implications. Read More...
Mixed news for Trinidad's energy sector - Investors pull as new contracts issued
Trinidad and Tobago's energy sector has lost three investors who were to pump an estimated US$185 million combined in energy projects that include drilling programmes spread over a four-year period.... Read More...
Movements
Revised RJR financial team - Rupert Hartley, Radio Jamaica Limited's director of finance and administration, has retired effective August 1.Andrea Messam has since replaced him, and her old job as director of business and commercial strategy has been... Read More...
Germany, France shrug off recession - But euro area economy still contracting
The recession in the 16 countries that use the euro eased substantially between April and June after unexpected growth in Germany and France, the currency bloc's two largest economies, official figures showed Thursday... Read More...
Fed to ease debt purchases, holds rates steady - Forecasts gradual resumption of growth
The United States Federal Reserve said Wednesday it would wind down its purchases of government debt, sparking a sell-off, but was more optimistic on the economy and opted to hold interest rates steady, sending stocks higher. Investors moved out... Read More...
UC Rusal reaches agreement on debt
UC Rusal, the world's largest aluminium and alumina producer, has reached an agreement with the Coordinating Committee representing over 70 international banks on a long-term debt restructuring deal. The Oleg Deripaska-led... Read More...
Sea Island Cotton property war with Japan settled
An 11-year trade dispute over the right to the name West Indies Sea Island Cotton has ended with the Intellectual Property High Court of Japan ruling in favour of the grouping of four Caribbean islands, which had taken... Read More...
Volt promises 230 mile-per-gallon ride - But can it deliver?
General Motors (GM) said Tuesday its Chevrolet Volt electric car could get 230 miles per gallon (98 kilometres per litre) in city driving, making it the first American vehicle to achieve triple-digit fuel economy if that figure is confirmed by federal... Read More...
Ford to boost production of Focus, Escape
Ford Motor Company said Thursday it will build more of its popular Focus and Escape models and boost overall production of cars and trucks this year to help dealers restock depleted showrooms. Ford needs to keep up with demand for its Focus compact... Read More...
