Angostura to pay out J$22b - In first tranche of Lascelles deal - Acquisition repriced at US$618m
Michael Carballo, executive director of Angostura Limited, says the spirits company expects to pay out US$309 million (J$22.2 billion) in the first tranche of the two-tiered deal to shareholders of Lascelles deMercado and Company...
World Wise application lacking - Cash Plus, FSC meet today
World Wise Partners is the only so-calle investment scheme to have formally applied to the Financial Services Commission for a licence since a December ruling by the Supreme Court suggesting that all such schemes are subject to the regulatory jurisdiction of the FSC....
Jamaica National Building Society (JNBS) increases 'premium' deposit rates - Mum on mortgage prices
Jamaica National Building Society is offering increased returns to special savers, as much as 1.35 per cent more, saying this week that the move to bump up deposit rates was influenced by the actions of the central bank.The Bank of Jamaica hiked rates...
To fly cheap, Spirit doubles luggage fee - As offset for higher jet fuel bill
Low cost carrier Spirit Airlines has doubled the cost to fly passenger luggage as an offset against rising fuel prices, but is selling it as a deterrent to over-packing for trips. Effective February 20, the fee moves from U$10 to US$20 per piece of luggage checked at the counter....
CMP suspended - As JSE ultimatum against Castelo expires
The Jamaica Stock Exchange (JSE) suspended trading in the shares of Caribbean Metal Products Limited on Thursday, saying new owners Castelo Holdings BV had failed to comply with the rules of the exchange. The JSE had given Castelo up to February 6 ...
Trinidad debates costly gas subsidy - Proposes cut in TT$2b support package
The Patrick Manning administration has signalled a review of the annual US$320 million (TT$2 billion) subsidy on Trinidadian gasoline and diesel fuel, read by analysts as an early warning of a likely pull back of state support and eventually higher pump prices....
Mortgages now priced below central bank rate - But home loans likely to remain steady for now
Mortgage lenders, faced with the recent central bank hikes in interest rates by as much as 2.5 per cent within a month, believe the adjustments will spike the cost of credit. But it is the uncertainty around the degree of the pass-through that has left them undecided about whether...
A victory for Shaw - Regional insurance fund chops premiums, hikes coverage
Caribbean countries, who have lobbied success-fully for more favourable payout terms from their regional insurer, have been granted a 10 per cent cut in premium rates and double the coverage. It's a double victory for countries, given that in the insurance sector...
IMPLICATIONS OF THE EPA - Part 3 - Preference erosion stokes new export opportunities
The economic Partnership Agreement guarantees the Caribbean permanent duty-free quota-free (DFQF) access to the European Union market for its exports, with the exceptions of sugar and rice, which have short transition periods....
UNDERSTANDING THE EPA - Part 5 - The exclusions list of protected goods, services
Among the most difficult issues to resolve in the final months of the negotiations with Europe for an Economic Partnership Agreement (EPA) was how much of its trade the Caribbean could exclude from the removal of tariffs....
Scotiabank prospects for bigger Caribbean market
Scotiabank, a top Canadian commercial banking group boasting C$412 billion in assets, has acquired new holdings in the region via a deal with a Chilean company that the parties said would be executed in a matter of days. Scotiabank, under its agreement with Grup Cumbres (GAC)...
Cruise trends for 2008: New ships, more luxury, potential deals
More choices in food, activities, itineraries and luxury are some of the trends shaping the cruise industry for 2008. But the big unknown is what will happen with prices. The Cruise Lines International Association (CLIA) estimates that 12.6 million people cruised worldwide...
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