Sweeping changes at Manpower - Hinchliffe hunts $200m to restructure
Jamaica's largest office-cleaning service, Manpower and Maintenance Services Limited, is designing a new operational structure under a $200 million plan to drive efficiency and boost income and profit. Chief Executive Officer, Audrey Hinchcliffe, says she has already pumped $50 million...
Maxwell's return - Displaced team,stalled shipments immediate challenges
Jerome Maxwell's appointment as managing director for Jamalco marks his return to a position he held two years ago, having left to take up a promotion as vice-president in charge of advance planning and infrastructure for Africa and the Caribbean within the Alcoa network....
CAP's financial position deteriorates - But Fitch retains confidence in ability to service debt
Clarendon Alumina Production Limited (CAP), part owner of the Jamalco bauxite refinery at Halse Hall, Clarendon, has retained its B+ rating from Fitch on its US$200 million bond.The ratings agency noted that the company's financial position had deteriorated and its debts had climbed ...
Kingston Wharves creating new car warehousing facility - To add container storage space
Port operator Kingston Wharves Limited (KW) is investing about $65 million to develop what it calls a one stop shop for domestic importers of cars on the Kingston water-front, by December 2007. The project, which will essentially create a parking lot close to the port...
Jamaica Broilers moves to assure the market- Reasserts that trades by executives were ahead of ethanol problems
Jamaica Broilers Group (JBG) on Tuesday, in a bid to calm market fears about its stock trading entanglement, said orders for the trades placed by seven executives occurred days ahead of problems with its ethanol supply contract. The company's stock has fallen...
Tax bill, finance charges eat into Palace's profit
Palace Amusement Company (1921) Limited made a slim operating profit of $5.6 million from improved revenues of $415 million in its financial year just ended.But heavy debt servicing charges and an even bigger $7.6 million tax bill has eroded all gains...
NHT's Hugh Reid moves to VMBS - Samuels says he was tipped to succeed him
Former Senior Director of Finance at the National Housing Trust (NHT), Hugh Reid, is now heading operations at Victoria Mutual Building Society (VMBS).Reid, who resigned from the Trust effective September 23, took up his new job a week later on October 1...
BBC makes radical overhaul
The British Broadcasting Corp announced Thursday it will cut 1,800 jobs, broadcast fewer programmes and require staff to create content for television, radio and the Internet, creating a showdown with journalists and other employees. Union leaders said...
IMF warns against banking on tax incentives as pull for investment - Jamaica's foregone revenues estimated at a fifth of collections
In a public information notice on the Caribbean released October 5, the International Monetary Fund (IMF) warned against relying on tax incentives to attract investors, saying they are costly in terms of foregone revenues. "Other efforts to attract investments may be more effective ...
Reflecting on the October 19 stock market crisis - 20 years later, a larger problem emerges
Today marks the twentieth anniversary of the 1987 financial crisis in the United States.A bad day for Wall Street, stocks fell over 20 per cent. Influential commentators, investors and market analysts find too many similarities between then and now....
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