Jamaica Gleaner Business
Published: Monday Wednesday | March 11, 2009
Used-car imports collapse - New-car dealers want duties slashed
Used-car imports have collapsed under pressure from the global recession, striking a major blow to the industry which suffered a more than tenfold decline in year-over-year monthly stock imports in January, its biggest tumble ever... Read More...
FSC to free up unit trusts regime
Rohan Barnett, the new boss of Jamaica's Financial Services Commission (FSC), hopes to soon lift the decade-old moratorium on new unit trusts, while the FSC continues to work with stakeholders on the longer-term matter of untangling knotty taxation... Read More...
$9-billion insurance pull-out - Guardian grows despite increased policy encashment
Faced with the collapse of the unregistered investment schemes, which cost them billions of dollars, Jamaicans last year encashed nearly $9 billion in life insurance policies, a top industry official, Earl Moore, has reported. These encashments, 16 per cent higher... Read More...
Credit squeeze on small businesses - Don't blame us, says DBJ
The Development Bank of Jamaica (DBJ) said it has paid out to intermediary lending institutions about $3 billion to finance business ventures of their small and medium size clients. However, the Small Business Association of Jamaica, (SBAJ), the umbrella organisation... Read More...
Financial stocks surge amid Citi profit estimate
NEW YORK (AP): The broader financial-services sector got a lift yesterday after Citigroup Inc's chief executive, Vikram Pandit, said the bank operated at a profit in January and February. Shares across the entire financial-services sector ... Read More...
T&T finance minister brushes aside calls for resignation over CLICO
PORT OF SPAIN, Trinidad (CMC): Trinidad Finance Minister Karen Nunez Teshiera has brushed aside opposition calls for her resignation in the wake of the financial troubles facing the local conglomerate CL Financial.Former opposition leader, Kamla Persad... Read More...
Bernanke says regulatory overhaul needed
WASHINGTON (AP) The United States' financial regulatory system must be overhauled to strengthen oversight of banks, mutual funds and large financial institutions whose collapse would put the entire economy in peril, Federal Reserve Chairman Ben Bernanke... Read More...
Airbus maker beats full-year profit target
MUNICH (AP): The parent company of plane-maker Airbus yesterday reported an 89 per cent gain in fourth-quarter net profit, but warned of "very challenging" years ahead. European Aeronautics Defense and Space Co said it expects a decline in profitability this year... Read More...
Stanford Group lays off workers in Florida
MIAMI, Florida (CMC): The Stanford Financial Group, whose principal Sir Allen Stanford has been accused of being at the centre of a massive investment fraud, laid off more than 170 workers in Florida.The Florida State Department of Labour said... Read More...
