GraceKennedy looks for value overseas
With limited room for growth at home and its two most recent foreign acquisitions adding 16 per cent to the group's revenue last year, GraceKennedy bosses say they are increasingly looking to overseas markets to expand their operations and, ultimately, enhance profits....
Jamaica Stock Exchange (JSE) reorganises - Street-Forrest heads commercial division, Wentworth Graham now chief regulatory officer
The Jamaica Stock Exchange (JSE) has reformulated itself into two divisions in a split-off of its regulatory functions from the commercial side of the operations that took effect Tuesday.It is one of the most tangible steps yet in the process of demutualisation to public owner-ship...
Govt arrears to NHT now $20b - To clear $2.3b this year
The Bruce Golding administration, this year, will pay the National Housing Trust $2.3 billion in employer contributions, a leap on the $10 million paid out in each of the last two years, the current budgetary estimates show. The size of the new allocation ...
Deficit rolls off-target to $50b - Petrojam deal nets $4.5b in February
The Jamaican Government at year-to-date February spent $266 billion running the country, but only collected $215 billion in grants and revenues that left it with a 19 per cent shortfall. The upshot was that the fiscal deficit jumped to $50 billion...
Jamaica Money Markets Brokers (JMMB) applies for commercial banking licence
Jamaica Money Markets Brokers Limited has applied to the central bank for a commercial banking licence, which, if approved, will grow the sector to eight licensees."The application was submitted late Wednesday evening, March 26," said Marguerite Cremin, the brokerage's marketing ...
New CEO for Digicel Jamaica
David Hunter, former chief executive officer of Digicel Bermuda, has been shifted to Jamaica to head Digicel's operations here, while David Hall has been reassigned to a much wider portfolio - head of the telecoms group's North Caribbean operations. Hunter, a Scottish national...
Wray and Nephew put on hold
The Agriculture Ministry has back-paged a request from rum manufacturer J.Wray and Nephew Limited for access to a substantial block of state-owned cane lands, saying no deal would be struck ahead of the divestment of the Sugar Company of Jamaica...
Financial crime fighter FID gets facelift - Makes room for bigger staff
After 17 years of neglect, the Financial Investigations Division (FID), a unit of the Ministry of Finance, is undergoing surgery to make the sick building more habitable, but is also expanding office space to analyse and track sophisticated criminals....
Free trade with Europe will not be entirely free - Next hurdle: Non-tariff barriers
Europe's opening of its markets to Caribbean products will not mean automatic access to store shelves, according to a trade official who warned in Kingston this week that food exports would still have to hurdle non-tariff barriers. Producers will have to satisfy the European Union...
Four US airlines under investigation - Three cited for overdue inspections
Four United States airlines are being investigated for failing to comply with federal aviation regulations. US Federal Aviation Administration officials on Wednesday said an audit of airline maintenance records found three of the four carriers had missed inspection deadlines....
Sancia Templer's new job - Linking the corridors of power and owners of capital
At first blush Sancia Bennett-Templer's petite frame and soft tone can be deceptive.But those who work with her say she is a workhorse, a go-getter, highly confident in her ability to get the job done, and as firm as she is committed. Templer, as the Financial Gleaner found....
US Fed to the rescue - US$20 trillion housing market at play
Between 1986 and 1989 the United States' Federal Savings and Loan Insurance Corporation closed or otherwise disposed of almost 300 institutions with US$125 billion in assets.The Resolution Trust Corporation created by the US Congress in 1989 disposed of 747 thrifts...
Money laundering and listed - Money laundering and listed companies
The rules of the Jamaica Stock Exchange provide that unless its council agrees, the articles of a listed company must provide that fully paid shares are free from any restrictions on the right of transfer and free from all liens. The rules also provide that there shall...
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