NROCC turns to China for highway financing - Road company losses top $9 billion
Jamaica's highway company has accumulated losses of $9.3 billion in its six years of operation, but NROCC's position is expected to get a lot worse by the end of the current fiscal year when it is projected to be $17.4 billion in the red. Last night, Ivan Anderson, the chief...
Property-tax compliance a 'low' 44 per cent
FEWER than half of Jamaicans pay their property taxes, leaving a gap in the financing required for solid-waste management and streetlighting. Compliance rates for land/ property taxes is a 'low' 44 per cent, representing revenues of just under $1 billion at fiscal year end March 2008...
BA cuts commission to travel agents
British Airways on Tuesday announced a cut in commissions paid to Caribbean travel agents, from six to one per cent, but has limited it to a segment of the market. The reduction is on journeys originating outside the Caribbean that are sold on separate tickets....
Advantage General to diversify portfolio - Turnaround begins under Lee Chin
In its first full year under the ownership of Michael Lee Chin's AIC group, Advantage General (AGI) sharply turned around its loss of 2006 and the new managers say that will diversify its heavy dependence on motor-vehicle insurance to maintain profits and drive growth....
Trinidad central bank warns of higher inflation - Finance Minister blames consumer behaviour, external conditions
Trinidad and Tobago's central bank governor Ewart Williams has warned the country to brace for higher inflation because of demand pressures, rapid credit rate expansion, volatile world food prices and poor performance of domestic agriculture. "We are facing serious upside...
Divestment committee set up for Norman Manley airport
Transport and Works Minister Mike Henry gave the clearest indication yet that government would be pressing ahead with the proposed divestment of the Norman Manley International Airport when he announced the formation of a committee to oversee the process.
Aviation chiefs pledge climate action
Aviation chiefs have signed a declaration that pledges to address the industry's impact on climate change but shuns concrete targets to reduce carbon emissions.The declaration has been signed by 16 industry groups as well as aircraft makers Boeing and Airbus...
Riu planning a fifth hotel in Montego Bay - Fourth property to have traditional Friday opening
The Riu Group of Spain is awaiting permission from National Planning and Environment Agency to launch a 250-room hotel project, which the company's president, Luis Riu, said is to sit adjacent to the property in the final stages of construction at Mahoe Bay in Montego Bay...
FSC board to finalise selection of new CEO
Financial Services Commission (FSC) chair-man Emil George sidestepped comment Tuesday on whether there was rivalry for the post of executive director (ED) saying only that the issue was soon to be settled. George Roper, a deputy director, has been acting as ED since the departure...
OPEC production to rise by 2012 - Oil hits $119 but falls back
OPEC's secretary general said Tuesday there are plans to boost oil production target capacity by five million barrels a day by 2012. Abdalla Salem el-Badri in separate comments in an interview with Dow Jones Newswires on the sidelines of a Rome energy forum...
Balancing work and entrepreneurship
Holding down a steady job brings a sense of security; but sometimes it becomes boring for those who harbour the entrepreneurial spirit. You wake up in the morning, brew your coffee, and head to work, all the while trying to think of some great idea...
Samsung chairman quits amid tax scandal
AP:Samsung Group Chairman Lee Kun-hee said Tuesday he was stepping down after 20 years as chief of South Korea's biggest conglomerate, quitting in the aftermath of his indictment on tax evasion and other charges last week.The move, announced to reporters by Lee himself...
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