Petrojam asset sealed sugar deal - Ethanol plant 60% of sale price - Energy parent had no say
Petrojam Ethanol Limited, which is controversially among the assets being acquired by Brazil's Infinity BioEnergy in its takeover of the Government's sugar interest, will account for 60 per cent of the value of the one quarter stake Jamaica will have in the new entity...
TASD expanding collectorates - New revenue centre in Portmore by year end
A NEW tax collection centre is to be established in the municipality of Portmore, St Catherine, in office space that previously housed investment banker Dehring Bunting and Golding Limited, but which has now been leased by the Tax Administration Services Department (TASD)...
Jamaican dollar gathers downhill momentum
The Jamaican broke through the $72 mark in the past week, and continues to slide, notwithstanding strong interventions and an interest-rate hike by the central bank. On Wednesday, the currency closed on the spot market at $72.19 against the US dollar, a new record low...
American company going after 1,000-acre south coast property
AN AMERICAN company is buying up large acreages on the outskirts of Savanna-la-Mar, Westmore-land, for a mixed use development, plunking down close to US$28 million for 534 acres of property, called Cave Village. But ProConcept Market Group, based in Buford Georgia...
Sagicor earmarks US$100m to build up US business
Sagicor, the Caribbean financial services conglo-merate that has spent an estimated US$100 million to build out a life insurance arm in the United States (US), appa-rently has no plan to retreat in the face of the global economic storm that has made the word...
Ritz-Carlton to open four new Caribbean properties in three years
Ritz-Carlton, the luxury hotel chain, is to open four new properties in the Caribbean over the next three years, starting with a US$500 million resort in the Turks and Caicos Islands in 2009. The other developments will be in The Bahamas, the Dominican Republic and St Lucia...
Food service company Prestige Holdings writes off Puerto Rico - Takes TT$13m hit
Prestige Holdings Limited, a fast-food company in Trinidad whose holdings include the KFC, Pizza Hut and TGI Friday franchises, is reporting improved sales of TT$350 million (J$4.2 billion) over six months, a 17 per cent increase year on year...
Radio profits 'Kool' down, but parent Aerotel's income soars
KOOL 97 FM, a commercial radio station, is owned by the Government through Aeronautical Telecommunications Limited (Aerotel). In the year to March 2007, KOOL had an income of $32 million, expenses of $37 million and so made a loss of $5 million...
Commentary - Is this the best time to sell Air Jamaica?
TOURISM IS a major Caribbean economic driver with huge investments, foreign and domestic, existing and planned. Both supporters and opponents of the current tourism industry model, surprisingly it will seem to some, have used the same basic statistics...
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