Jamaica Gleaner Business
Published: Monday Friday | November 6, 2009
Restructure BOJ - Wehby proposes new central bank model - Split chairmanship and governor's position - Set up committee to determine interest rates
THE CHANGE in the leadership of the Bank of Jamaica (BOJ) should be used to review the governance structure of the central bank, says Don Wehby, who suggests that the chair-manship be divorced from the governorship and that a monetary committee... Read More...
Cable and Wireless to split - Caribbean underperforms but group reports profit
British telecoms systems company Cable and Wireless PLC announced yesterday that it intends to split into two units, CWI and Worldwide, to increase profit potential. The company said details of its demerger plans would be disclosed before the end of the month.... Read More...
Broilers builds distribution lines to grow revenue - To cut debt by $2b in a year
Promising to deleverage after pumping hundreds of millions into two ethanol plants, Jamaica Broilers Group (JBG) said last week it would cut its $5.5-billion debt load by $2 billion in less than a year... Read More...
Court petitioned to wind up JNAP for unpaid debt
A LITTLE known investment outfit has petitioned the high court to wind up Jamaica National Access Point (JNAP), saying the telecom had borrowed monies but had not repaid the loan. JNAP was sold by owner Mark Reid a month ago to an American-owned company... Read More...
S&P downgrades credit card receivables, Air Jamaica, NCB
INTERNATIONAL RATING agency Standard & Poor's has followed its November 2 downgrade of Jamaica's long-term sovereign credit from CCC+ to CCC with parallel markdowns of the island's credit card merchant voucher receivables, as well as the long-term corporate credit... Read More...
Lower oil bill, better BOP results - But reserves still under pressure
JAMAICA HAS sliced US$1.34 billion off its fuel bill in the first half of this year, due, in part, to the scaling back of some industry activity, particularly bauxite, but also because of decidedly lower world crude prices that are now hovering at US$80 per barrel... Read More...
Alan Barnes and the globalisation of Red Stripe beer
FACED WITH a nearly saturated domestic market for beer, local brewer Desnoes and Geddes Limited, trading as Red Stripe, is looking to innovations in product and packaging to compete with all companies that are vying for scarce disposable income from Jamaicans... Read More...
ECCU plans takeover of British American
TO SAFEGUARD the interests of British American Insurance Company (BAICO) policyholders, governments of the Eastern Caribbean have agreed to create a new company to take over the operations of the failed CL Financial subsidiary firm. The new company... Read More...
Grameen project falters for lack of start-up capital
Attempts by the Chris Blackwell-led groups, Island Outpost and Island Jamaica, to bring the Bangladesh-based Grameen Bank to Jamaica have been stalled by the failure to raise US$2 million (J$180 million) in equity capital required for the venture... Read More...
Commentary - Salary or policy: Lattie's departure poor timing
Last Friday evening, I got a call from a friend who began by saying simply: "Bwoy, Lattie gone. "It took me a moment to focus. But before I did, he said: "The governor, man, the governor." I then realised he was speaking about Bank of Jamaica (BOJ) Governor Derick... Read More...
Letter - Online tax misrepresented
I was disappointed with the headline 'Jamaicans shun online tax payments: but authorities press ahead with e-payroll deductions' and the story appearing in The Sunday Gleaner, November 1. The article had a number of misleading... Read More...
Commentary - Time to restructure the BOJ
The dismissal of the Governor of the Bank of Jamaica (BOJ) last week Friday provides the government with an excellent opportunity to review the current operations of the central bank in keeping with its mandate and functions... Read More...
Scotia mutual fund a chance to diversify, says Schnoor
Subscriptions to the Scotia DBG Caribbean Income Fund opened in Jamaica Monday at US$3.31 per share, with a minimum required investment of US$5,000.The fund managers say current income yields fall between 6.5 per cent and 8.0 per cent... Read More...
Trade mission to Eastern Carib
The Jamaica Manufacturers' Association (JMA), in partnership with the Jamaica Exporters' Association (JEA) and the Jamaica Trade and Invest (JTI), will lead a trade mission to Barbados, St Lucia and Antigua next week in search of new business... Read More...
Dealers report sales win at used-car show
A HASTILY staged car show last weekend turned out to be a sales win for some, and now the Jamaica Used Car Dealers Association (JUCDA) is gearing for round two, with another staging in Montego Bay by December. The event, the Financial Gleaner has learned... Read More...
Movements
New CEO for H&L Simon Roberts has been appointed to the post of chief executive officer of Hardware and Lumber Limited (H&L), with effect from November 1. Roberts, formerly general manager of GraceKennedy Logistics Services, takes over from... Read More...
