Port Authority recruits Merrill Lynch To restructure loans, raise new capital
The Port Authority of Jamaica has recruited investment banker Merril Lynch to help restructure its $17 billion debt and raise capital to finance its ongoing expansion programme. The National Contracts Commission has already endorsed a US$1.97 million...
UK acquisition adds 20% value
When a fortnight ago GraceKennedy paid the British private equity firm, Bridgepoint Capital ?23 million (J$3 billion) to acquire the United Kingdom-based food company, WT Foods, it not only gained a firmer toe-hold in a market in which it has been keen...
Big loans, pension costs put damper on water agency's finances - NWC $1.2 billion in the red
National Water Commission made a $1.21 billion loss in 2006, despite a one billion growth in revenues that year, but is projecting that it will shave millions off that figure for an 11 per cent improvement in its deficit to $1.076 billion this financial year...
BNS/DBJ loan scheme now open to subscription
Loans at concessionary rates, ranging from 7.875 per cent to eight per cent interest, are now available to small farmers and small hoteliers, says the Development Bank of Jamaica (DBJ). The loans are being financed by Bank of Nova Scotia Limited, which...
Jamaica, Spain sign MoU for double taxation treaty
Jamaica and Spain had the first round of talks in Kingston, March 5-9, on a new double taxation treaty between the two countries. Those talks follow the expansion of Spanish businesses to Jamaica, particularly in the hotel sector, marked by significant...
Oil bill, equipment purchase deepen trade deficit - Imports outstrip export earnings 2-to-1
Jamaica's balance of trade with its foreign partners continued to deteriorate into November, the central bank has reported, saying year to date, January to November 2006, the gap was US$59 million wider than the previous year....
Pension surplus boosts Gleaner earnings
Bolstered by $309 million of credit from its Superannuation Fund, the Gleaner Company, publisher of The Gleaner newspaper, has posted 37 per cent increase in its net profit, which climbed to $256 million on the back of revenue growth. The newspaper group's revenues...
Assessing Jamaica as a good or bad economy... And growth in a kleptocracy
I want to try to answer two questions recently put to me. The first is easy. "You seem to be writing on issues of political choice. What competence do you have to be dealing with these things?" Sometimes I feel I have to and yes, I have no competence in matters of politics.
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