Debt weighs on Digicel - Losses at US$74m, but operating income, revenues strong
Digicel Group Limited grew its operating profit six-fold in the financial year just past, but the company's bottom line continued to sag beneath the weight of the debt used by founder Irishman Denis O'Brien for the rapid expansion of his telecommunications empire...
MiPhone to rebrand as Claro
MiPhone, Jamaica's number three telecoms is to be rebranded under the name Claro, said to be the largest mobile company in the region. América Móvil, which own the two companies, will tomorrow do a media launch of the the Jamaican operation, which it acquired...
New financial secretary appointed
Sharon Crooks, who just months ago was named interim head of the Financial Investigations Divisions (FID), is to take on one of the most influential civil service jobs in government, that of financial secretary.Her appointment takes effect today....
Pratt resigns from PanCaribbeanBank
Henry Pratt, managing director of the newly formed PanCaribbeanBank Limited, has resigned his position effective October 31, but declined to say why he is leaving the three-month-old operation. Philip Armstrong will step in to run the bank in the interim...
Borrowing from the IDB: a shift in strategy or more of the same?
Last week, Finance Minister Audley Shaw announced that the Inter-American Development Bank (IDB) has committed to lending Jamaica at least US$600 million over the next three years. He was speaking at an investment luncheon hosted by the Financial Services Commission...
Jamaican market loses $9.3b of value in two days - Down $83.6b since September
Skittish investors continued to brace against the markets yesterday, slicing another $3.3 billion off the value of stocks, and increasing to $9.3 billion the value they have lopped off listed firms in the week's first two trading days ...
Market sheds US$2.2 trillion in October - Dow falls 508 points Tuesday
The misery worsened on Wall Street on Tuesday, with stocks piling on losses late in the session and bringing the two-day decline in the Dow Jones industrials to more than 875 points amid escalating worries about credit markets and the financial...
CaribCan talks set back by Canadian elections
Trade negotiations between Canada and CARICOM have been pushed back once again, this time at the request of the North American nation whose Prime Minister Stephen Harper has called general elections. Canadians go to the polls on October 14...
Paulson picks Goldman to unclog credit markets
Treasury Secretary Henry Paulson turned to a familiar source when he picked a director for the Government's US$700 billion bailout programme, his former Wall Street firm, Goldman Sachs. Neel Kashkari, 35, a former Goldman executive who has worked with...
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