Pulse reclaims independence - Redeems 8.9m prefs held by backer
Hinting at concern that the Development Bank of Jamaica might have wanted to convert the holding to ordinary stock - thereby grabbing a greater stake in the entertainment and property company - Kingsley Cooper's Pulse Investments has redeemed nearly $30 million worth...
Benchmark T-bill auction yields 14.22%
The Treasury Bill auction on Wednesday had performed to market expectations, yielding 14.22 per cent on the six-month issue.The three-month bill yielded 13.93 per cent.The auction was also massively oversubscribed: seven fold in the case of the six-month...
Jamaican firms ignoring employee fraud - Theft a $16-billion problem for listed companies
Jamaican companies lose billions of dollars annually from employee fraud, but managers largely remain lackadaisical in addressing the problem, according to a specialist who advises corporations on how to curb such theft."We have done fraud risk and control reviews...
US slows to a crawl
The United States economy skidded to a near halt in the final quarter of last year, clobbered by dual slumps in housing and credit that caused people and businesses to spend and invest more sparingly.The Commerce Department reported Thursday that gross...
Ciboney's last hope - Holding out for $160m offer on beachfront land
There are still no takers for the 16-acre property at Culloden in Westmoreland, which resort company Ciboney Limited has had on the market since 2006. The property was initially being sold for more than $100 million according to Ciboney's audited financial statements for year ending May 31, 2006....
Flow the face of cable - But small operators still strong, says JACCO
The expectation that Flow's entry into the Jamaican cable market would have transformed the face of the sector, force its players to consolidate, and drive down prices to consumers has not happened, said the chief spokesman for small operators. Instead, Collin Innis, president of head...
Ethanol fire danger - Needs special type of foam to douse; Broilers prepared, but says issue overplayed
The drive towards alternative fuels carries a danger many communities have been to slow to recognise: ethanol fires are harder to put out than gasolene ones and require a special type of firefighting foam. Water just does not work. However, this concern is less apparent in Jamaica...
Another investment scheme on the radar
Capital Blu Management, the newest firm to pop up in the alternative investment scheme sector, will in March place an application before the Financial Services Commission to legitimise its operation, says the company's principal. In the meantime, however, Capital Blu...
Carreras fights on in tax squabble - Hopes to reclaim $1.7b from TAAD
Cigarette distributor Carreras Limited has petitioned the appellate court in the hope of reclaiming $1.73 billion in taxes and penalties it paid over to the Taxpayer Audit and Assessment Department (TAAD) following a near five year legal battle that it lost in the high court....
Trinidad to overhaul its oil tax regime
Trinidad and Tobago is considering an overhaul of the tax and incentives schemes for its energy sector, hoping to fashion a regime that will drive investment in exploration and production, which analysts say have lagged in recent years....
Record US$2.6b gold investment for Dom Rep - Canada's Barrick to reopen mine
Canadian mining company Barrick Gold Corp will reopen a formerly state-owned mine in the central Dominican Republic, the company and the Caribbean country's president said Wednesday. Barrick plans to spend about US$2.6 billion (€1.7 billion) on the Pueblo ...
UNDERSTANDING THE EPA, Part 8 - The development dimension
Of all the aspects of the recently initialled economic partnership agreement (EPA) with Europe, the one that remains the least defined is its development dimension. This is because the EPA contains no guarantees about how trade liberalisation will benefit Caribbean society...
University intrigue: A series on UWI's genesis and advance
Part two of this article has undergone a third revision because of apparent intrigue. The first draft began this way: My editor has let me know that the document submitted 'on behalf' of the Mona Association of Postgraduate Students (MAPS) was unsigned....
UK Treasury chief Darling faces blame for series of financial blunders
Alistair Darling always had a tough act to follow, but the man who stepped into Prime Minister Gordon Brown's shoes as Britain's Treasury chief has had an even worse run than most would have anticipated. Dubbed a "dead man walking" by the opposition Conservative Party last week...
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