BOJ squeezes credit - Floats high-priced CD, hikes reserve requirements
Jamaica's central bank moved aggressively yesterday to shore-up the island's wobbly currency, floating a short-term CD with its interest rate 3.5 per cent higher than its most recent offering, and announcing that it would jack up, by two per cent...
Fitch downgrades Jamaica
Fitch Ratings has downgraded Jamaica to 'B' from 'B+', saying shocks from global financial turbulence and the expected US recession have heightened the country's downside credit risks.The agency cited Jamaica's "modest and deteriorating" international...
Jamaican economy could shrink in 2008 - PIOJ
The Jamaican economy is projected to grow by one per cent this calendar year, but new projections by the Planning Institute of Jamaica (PIOJ) also suggests that it is just as likely to shrink by 0.5 per cent. The new forecast comes in a period of uncertainty linked directly...
The rise and fall of cement, construction - Carib Cement 3Q loss drags down parent TCL
Caribbean Cement Company Limited is predicting that the market for cement will remain soft into December and that demand will likely hit four-year lows, tracking with a downturn in construction activity reported at the top of the week by the Planning Institute of Jamaica...
IFC approves US$300m loan for Panama Canal project
The International Financial Corporation's board has signed off on a US$300 million loan to the Panama Canal Authority (ACP), the agency overseeing expansion of the maritime landmark. The canal project, valued at US$5.25 billion, is expected to not only double...
Automakers beg for aid as bail-out bill stalls - Hearings begin but support narrow
Detroit's Big Three automakers are begging the United States Congress for a US$25-billion government rescue, while the legislation clings to life support on Capitol Hill and top lawmakers and the White House suffer from bail-out fatigue...
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