Palace going 3D - Plans investment in new technology
Despite its struggles in recent years to return a profit, Douglas Graham's Palace Amusement is not only confident of the viability of the movie theatre business in Jamaica, but will invest millions next year to introduce 3D cinemas to the island. ...
Christmas currency to peak at $51.7b - But growth slower than 2006
The Bank of Jamaica says that it expects, on a net basis, to issue an additional $10.6 billion - up 15.8 per cent on last December - in cash to the Jamaican economy this month to help to facilitate the traditional Christmas shopping spree....
Carreras rolls in the profit
Carreras Limited has been busy doing what it has for a long time done very well: make money.For the six-month period to September, the company increased its gross operating profit by a whopping 38 per cent, to $2.73 billion, from the $1.98 billion from the comparative....
Joe M Matalon says partnership will allow for CGM's strategic expansion - US company pays $800m for piece of Jamaican insurance broker
The US-based international insurance broker Arthur J.Gallagher & Co has acquired a near 40 per cent stake in the ICD Group-controlled insurance broker, CGM Group, it was announced yesterday. Market analysts estimated that Gallagher paid around J$800 million...
FibraLink to connect to Colombia by March 2008 - Investing US$80 million to expand transnational fibre-optic link
Fibralink Jamaica Limited is investing another US$80 million (J$5.72 billion) to expand its submarine fibre-optic network from Jamaica to Cartagena, Colombia, via Florida.The company, a subsidiary of Columbus Communications - owned by Canadian John Risley and Michael Lee Chin...
RBTT gets US$40m for SME financing - Jamaican firms in line for loans
The Inter-American Investment Corporation (IIC) in pumping US$40 million of loan capital into the RBTT group, which will be used to provide financing for small and medium sized enterprises (SMEs) in the Caribbean, including Jamaica.
Kingston JHTA to sell city's culture - To host Japex next April
Hoteliers, supported by the Jamaica Tourist Board, will dole out US$500,000 (J$35.6 million) to host Japex, under a plan that includes cosmetic upgrades to certain areas of the city. "It is a lot of in-kind contribution from the JTB," said Camille Needham, executive director...
Paymaster gives up Jamaica Public Service store management - Jamaica National to take over collections March 1
Jamaica's largest payment collection company, Paymaster Ltd, says it has given up the management of bill collection operations at Jamaica Public Service's (JPS) offices, suggesting that the business is unprofitable.
Bernal optimistic about EPA agreement
With the deadline looming for a new trade pact between the Caribbean and the Euopean Union (EU), the region's lead negotiator, Ambassador Richard Bernal, says an agreement could be concluded as early as this weekend. The parties have called a negotiating session...
ANALYSIS - High US grain prices fail to slow global demand
World grain buyers, fearful that soaring prices for U.S. corn, soybeans and wheat may rise even higher in 2008, have snapped up the commodities while other countries raise export taxes or halt overseas sale.
Chavez says Venezuela to buy fewer goods from Colombia
Venezuelan President Hugo Chavez threatened on Tuesday to reduce trade with Colombia after a spat with Colombian leader Alvaro Uribe, whom Chavez said he does not "even want to see."
Dual-fuel power plant for T&T
PORT-OF-SPAIN (Trinidad Express): THE TRINIDAD and Tobago Electricity Commission (T&TEC) has awarded Finnish engineering company, Wartsila Corporation, an almost $500 million contract to supply a dual-fuel power plant in Tobago.The dual-fuel power...
CARICOM told not to expect EU trade waiver
BRIDGETOWN, Barbados (CMC): Caribbean Community (CARICOM) states have been warned not to expect a waiver of the December 31 deadline to sign a new trade deal with the European Union (EU).EU Ambassador to Barbados and the Eastern Caribbean, Amos Tincani...
Oil price falls as US slowdown fears weigh in
LONDON (Reuters): Oil prices fell yesterday, pressured by fears over the health of the economy of top oil consumer the United States. U.S. light, sweet crude futures fell $1.95 a barrel to US$92.44 at 1601 GMT.
Market drops, worries over credit plan
NEW YORK (Reuters): United States stocks fell yesterday as doubts grew about a plan by global central banks to unfreeze credit markets, and data showed a higher-than-expected rise in wholesale inflation last month.
Governments, financial regulation and financial bailout
In the USA today, highly talented and immensely experienced former financial regulators and financial journalists try publicly, to persuade government and free market capitalists that players in financial markets need more, not less regulation....
Latin American exports rise but growth slows
Latin America and Caribbean countries will record an 11 per cent increase in their exports this year, to reach a record US$715 billion, the Inter-American Development Bank has said.But while the hemisphere has been relatively successful at deepening the penetration ...
Businesses tell Manning 'get down to work'
The new Trinidad and Tobago government of Prime Minister Patrick Manning is not getting any honeymoon from the business sector which wants immediate action on problems ranging from crime to traffic gridlock and diversification beyond energy. ...
West Africans may do limited bilaterals with EU... But ECOWAS warns of long pacts that could undermine EPA talks
ACCRA (Reuters): West Africa's ECOWAS bloc says member states can do last-ditch deals with Europe to avoid disrupting exports in 2008, but warned they shouldn't sign broader economic accords ahead of a possible regional deal."We definitely do not object...
Underhanded practices driving regional price hikes - expert
BRIDGETOWN, Barbados (CMC): A competition specialist is charging that some underhanded practices, including price fixing and bid rigging, are contributing to the rising cost of living across the Caribbean. With just over a month to go before the setting up of the Caribbean ...
Paulson leaves China with promises - Says Mainland sees need for stronger yuan
XIANGHE, China (Reuters):United States Treasury Secretary Henry Paulson came away from two days of talks yesterday convinced China sees the need for a stronger yuan and with a promise that Beijing will open its financial markets a little wider...
Northern Rock takes £281m credit hit
LONDON, England (Reuters): Northern Rock has taken a £281 million (US$574 million) hit to profit from its exposure to the credit crisis, the bank said yesterday, adding to its woes as it named a new chief executive. The bank's volatile shares were down...
'T&T should spearhead regiona energy project'
Warning that providing aid to its regional partners is , in the long run, unsustainable, two top Trinidadian oil executives have suggested that Port of Spain spearhead the funding of a and green energy programme for the CARICOM area....
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