Jamaica Gleaner Business
Published: Monday Wednesday | August 26, 2009
Cement duty waiver stays - But volumes will be cut
In another victory for cement importers that also offers a mild concession to Caribbean Cement Company, Jamaica will retain the duty waiver for importers of the commodity but has reserved a larger portion of the market for the Rockfort-based monopoly producer... Read More...
Cash hunt for Caymanas project
Jamaica has enlisted International Capital Worldwide (ICW), a little-known financing outfit, to start to put together the US$2.5 billion it needs to build out its planned mega development on 1,000 acres of state-owned land at Caymanas in St Catherine... Read More...
New tax rules for allowances now in effect
Uniform and laundry allowances, with the exception of those that conform to Appendix B, Regulation 12 of the Income Tax Act, are taxable "in full" with effect from August 1, the Tax Administration Services Department (TASD) is reminding employers. Read More...
Cement-import quota cut a fair compromise, say Tank-Weld, IMAJ
The government's decision to extend the duty waiver on imported cement will effectively cut non-producers' market share by some 70,000 tonnes, but both Tank-Weld and housing contractors are shrugging it off as a reflection of market conditions... Read More...
JMMB profits plunge amid rise in interest expense
Jamaica Money Market Brokers (JMMB), the 17-year-old money market brokerage hit last year by the collapse of international finance house Lehman Brothers, is reporting a 58 per cent plunge in first-quarter net profit to June, precipitated by a drop in funds ... Read More...
$730m food programme for small farmers
Jamaica's Ministry of Agriculture and Fisheries, the European Commission (EC) and the United Nation's Food and Agriculture Organisation (FAO) signed a Memorandum of Under-standing (MOU) on Monday that commits €5.9 million (J$730 million) ... Read More...
Sandals plans US$12m upgrade to newly acquired Bahamas resort
Sandals Resorts International said Monday it would invest at least US$12 million to upgrade a 500-acre property acquired in the Bahamas.Sandals, which is now run by CEO Adam Stewart, son of founder Gordon 'Butch' Stewart... Read More...
Stanford to remain in jail
A federal appeals court has ruled that financier R. Allen Stanford must stay in jail until his Texas trial on fraud charges. The 5th US Circuit Court of Appeals in New Orleans upheld a lower-court ruling Monday that revoked Stanford's bond... Read More...
UN: LatAm, Caribbean trade down 13 per cent
International trade in Latin America and the Caribbean is set to fall 13 per cent this year, a United Nations economic commission predicted Tuesday - worse than the world average amid the global financial crisis... Read More...
Obama breaks vacation, keeps Bernanke at Fed
United States President Barack Obama announced Tuesday he wants to keep Ben Bernanke on as Federal Reserve chairman, saying he shepherded America through the worst economic crisis since the Great Depression... Read More...
BK profit rises despite sales drop
Burger King Holdings Inc said its fiscal fourth-quarter profit rose, even though revenue fell for the first time since the company became public in 2006 because diners visited the fast-food chain less often and spent less when they did.... Read More...
