Jamaica Gleaner Business
Published: Monday Wednesday | October 7, 2009
New asset purchase - But no sale yet for Columbus - Third Caribbean investment fund under negotiation
Michael Lee Chin's Caribbean venture capital outfit is close to wrapping up a new deal to invest up to US$40-50 million in the region, and plans to announce the acquisition as early as next week. At the same time, the Lee Chin-led AIC Caribbean Fund has signalled its intention... Read More...
Sellers upbeat, buyers not so confident
Business confidence continues to pick up, pushing past its last-quarter recovery with entrepreneurs pegging their hopes on signs of recovery in the United States, which the surveyors say might constitute an over-optimistic outlook. But for consumers... Read More...
JNAP sold to US Internet TV firm - Mark Reid to head merged operation
Local telecommunications solutions company, Jamaica Newtork Access Point (JNAP) Limited, has been acquired by the United States-based Digital Utilities Ventures Inc (DUTV), an outfit which specialises in the development of Internet protocol video transport systems... Read More...
Cement, CET and chicken to figure in COTED meeting
Jamaica, on Thursday, will seek approval of Caricom colleagues on its plan to waive duties on 120,000 tonnes of foreign made cement, allowing for small levels of competition in its home market that is dominated by Trinidad-owned Caribbean Cement Company... Read More...
Capital Solutions changes ownership - Massias sells majority shares to American
William Massias, majority shareholder in Capital Solutions Limited, is selling off all but nine per cent of the asset management and financial advisory firm in a deal said to be worth about US$4.6 million (J$409.4 million). A deal is expected to be struck by November... Read More...
Samuda claims progress on Caymanas project
Karl Samuda, minister of industry, investment and commerce, says the first 100 acres of land on the proposed Caymanas Economic Free Zone (CEZ) has been fully subscribed by local companies. "They are all blue-chip companies with the necessary finances... Read More...
Baugh on Honduras mission
Jamaica's Foreign Affairs Minister, Kenneth Baugh, who will represent CARICOM on a 12-member Organisation of American States (OAS) mission, is due to arrive in Honduras today.A brief OAS statement said that the visit of the delegation... Read More...
Anbell to spin off media business - Two IPOs likely for the junior market
Anbell Group, which operates in the advertising and telecommunications industries, will within a matter of weeks be going to the market to raise funds for a spin-off company. "As part of the group's business realignment strategy we are already far advanced... Read More...
TCL takes hard line on cement ruling
Trinidad Cement Limited (TCL) and its subsidiary TCL Guyana Inc on Tuesday filed an application in the Caribbean Court of Justice (CCJ) against the Government of Guyana requesting that Guyana be held in contempt. Read More...
Venezuela buys ConocoPhillips' gas project stake
Venezuela's state oil company said last Friday it has purchased ConocoPhillips' 40 per cent stake in a joint natural gas venture with Chevron Corp.State-run Petroleos de Venezuela SA, or PDVSA, said it will now team up with Chevron to exploit ... Read More...
IMF seeks broader powers over global economy - Pledges voting reform in favour of developing countries
The International Monetary Fund said Tuesday that it needs greater powers to anticipate and handle any future economic crisis, even as protesters facing police water cannons and tear gas claimed the fund was merely helping rich countries... Read More...
