Jamaica Gleaner Business
Published: Monday Friday | August 21, 2009
US$39m sugar bill
Sugar officials now acknowledge it will take US$39 million to produce the 79,000 tonnes of sugar forward sold to Eridania Suisse SA from the next crop, and not US$21 million as initially announced. The disclosure by John Gayle, general manager of SCJ... Read More...
BOJ cuts rates again - Benchmark now at 18%
The Bank of Jamaica has sliced another percentage point off its five open market instruments, in anticipation that the downward trend for inflation will continue and that the foreign exchange markets will remain stabilise. The rate cut became effective... Read More...
NHT bankrolls WIHCON project
The National Housing Trust (NHT) is putting more than half a billion dollars as interim financing or 62 per cent of the cost into a development by West Indies Home Contractors, but has no stake in the project.WIHCON's investment in the 7.42 hectare... Read More...
KES liquidation hits snag
Capital and Credit Merchant Bank (CCMB), which holds a debenture against assets of insolvent KES Development Limited, has so far not been forthcoming with information on what assets it has taken control of, creditors of the failed real estate ... Read More...
Software provider Salary.com expands in Montego Bay
Salary.com, a human resources software services provider to medium and large firms based primarily in the United States, has expanded its sales, data provision and service arm to Montego Bay.Salary.com Jamaica Limited... Read More...
Defaulting on public sector salaries - Debt vs the wage bill
Perhaps the major sticking point in the preparation of the proposed supplementary estimates for the current fiscal year will be the projections made for the payment of outstanding wages and benefits to various arms of the public service... Read More...
Petrojam Ethanol remains on the market
Petrojam Ethanol Limited (PEL), the government's alcohol dehydration facility which was controversially added to the assets sought by Infinity BioEnergy last year, is still up for sale, but is yet to attract any serious interest from applicants seeking... Read More...
NIF stock portfolio plunges $1.2b - Equity holdings decline despite net fund gain
The National Insurance Fund, the more than $50 billion of pooled savings from which government pays National Insurance Scheme benefits to over 90,000 pensioners, suffered a more than $1-billion decline... Read More...
Commentary - How facts got lynched in the US health care debate
It is true and acknowledged. We must return to the International Monetary Fund. Yet, pressing as our problems of fiscal imbalance must be, we are still likely to and indeed should, find time to pay at least minimal attention to the current attempt... Read More...
Small wealth managers here to stay - A response to Chris Williams
In an article by Huntley Medley in the Friday Financial Gleaner of July 31, 2009, Chris Williams, managing director of NCB Capital Markets Limited, is quoted as saying that small wealth management firms will not be able to survive ... Read More...
Regional business briefs
Puerto Rico stimulus - Puerto Rico is earmarked to receive nearly US$6 billion in federal stimulus money and plans to focus on renovating schools, roads and public housing, the United States territory's public utilities director said Wednesday.The projects... Read More...
Movements
British American Tobacco appoints new chairman - British American Tobacco PLC said Wednesday that Richard Burrows, a former governor of the Bank of Ireland, will become the company's new chairman later this year... Read More...
Carib hotel profits deteriorating in recession - researchers
Offering a bleak outlook on the Caribbean's hotel industry, a research group is predicting that properties will see a "further profit deterioration" this year. Hotels last year saw a 16 per cent fall in profits, linked to a four per cent decline in... Read More...
Caribbean business briefs
Oppose British takeover, Misick tells TCI residents - A former premier of the Turks and Caicos Islands called on islanders Tuesday to resist Britain's imposition of direct rule in the territory following corruption claims.... Read More...
