$300m rice plan - Government to provide 6,000 acres, companies to find capital
Jamaica, with the backing of private sector interests, will put 6,000 acres into rice production, a plan that calls for investments of about $300 million, possibly more. The idea emerged this week in talks between the agriculture ministry and private players...
IMF team conducting tax incentive review
A team of consultants paid for by the International Monetary Fund is in Jamaica to do a review of the tax incentive system that the finance ministry is undertaking as part of reforms being overseen by Senator Don Wehby. "The three consultants arrived in the island this morning...
Bullock replaced at finance ministry - Darlene Morrison acting as top financial civil servant
Colin Bullock, who, as financial secretary, had an uneasy relationship with his boss, Finance Minister Audley Shaw, is not being retained in the job by the Golding administration, it was announced yesterday.Bullock is being replaced, at least on a temporary basis...
Israel sets 5-year target to narrow market gap
Minna Israel has given herself three to five years to narrow the gap between RBTT Bank and the top players in the market, the banker tells the Financial Gleaner.RBTT is a distant third in the market behind Scotiabank Jamaica and National Commercial Bank, which together have a lock...
RBTT requests suspension to finalise cash, securities deal
RBTT Financial Holdings Limited (RBTT) will be applying to the stock exchange in Trinidad for a suspension of trading in the stock effective May 5, to wrap up the combination cash and shares deal with Royal Bank of Canada.If granted, the suspension will...
BNS contracted as settlement bank for CXN
The securities depositories in the three countries to be party to the Caribbean Exchange Network (CXN) have selected the Bank of Nova Scotia Jamaica (BNS) as settlement bank for regional stock market trades. "The contract with BNS has already been signed and concluded," said Marlene...
February poll finds fewer migrants sending money home
A new poll commissioned by the Multilateral Investment Fund (MIF) has found that fewer migrants are remitting funds to the region, as the crawling US economy devours jobs and erodes income."Starting in 2000, remittances from the United States to Latin America grew steadily...
Poultry consumers buy small to offset higher price
Rising food prices have sent consumers searching for smaller parcels of chicken meat in the supermarket, resulting in a three to five per cent drop in sales at Caribbean Broilers, the island's second largest commercial producer of chicken meat....
Viewer's Choice goes out of business
Viewer's Choice 2000, a DVD rental company around for 20 years, has gone out of business, citing unmatchable competition from pirated movies and Internet downloads.The business, which once operated from three venues in Kingston, was shuttered three months ago....
Amended income tax law puts more cash in pensioners' pockets The recent amendments to the Income Tax Act are intended to harmonise its provisions with the Pensions (Superannuation Funds and Retirement Schemes) Act, 2004 and to generally...
The changes include allowances in respect of lump sum payments, the maximum pensions payable, and the addition of provisions that enable self-employed persons and those in non-pensionable employment to effectively provide for their retirement under...
Carib tourism facing up to US$300m loss - As coral reefs die
Coral reef degradation could result in annual losses of US$100 million to $300 million to the Caribbean tourism industry by 2015, marine scientists are predicting. Rick MacPherson, director of conservation programmes with Coral Reef Alliance (CORAL), said at a Turks and Caicos conference...
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