Scotia Investments, DB&G to merge
Scotiabank's wealth creation arm, Scotia Jamaica Investment Management (SJIM), is being be acquired by Dehring, Bunting and Golding (DB&G) as precursor to a merger of the sister operations. Both Scotiabank and DB&G are subsidiaries of the newly created Scotia Group Limited....
FCIB investors want court to set share price
Seven FirstCaribbean minority investors, who own 338,454 shares among them, have asked that the courts fix a price at which CIBC must acquire their shares, the bank announced at the close of the last offer round. CIBC, through its subsidiary CIBC Cayman Investments Limited...
Montego Bay port project climbs to US$67m
The Port Authority of Jamaica's (PAJ) planned upgrade of the Montego Bay Cruise Port announced two years ago has been readjusted upwards to US$67 million ($4.5 billion). The development is to focus on building out the infrastructure for the commercial and cruise activities...
JRF rejects Highgate suitors - Bids too low
Insolvent chocolate maker Highgate Foods failed to excite investors, leaving its assets unsold after a March 15 auction by DC Tavares and Finson. Jamaica Redevelopment Foundation Inc.(JRF), owner of Highgate's debts under mortgage, cold-shouldered the bids because...
New benefits to erase $900m NHT income
The National Housing Trust (NHT) will lose hundreds of millions of revenues when it lowers interest rates and expands loan benefits in line with policy directives to improve benefits to taxpayers who finance the agency through payroll deductions....
Pegasus profits climb 136% - Despite disappointing CWC
The expected windfall from Cricket World Cup (CWC) 2007 did not materialise and occupancy levels were down, but Jamaica Pegasus still carved out a healthy 136 per cent increase in net profit on increased room rates and a tight grip on expenses....
GSB expanding service network to urban centres
GSB Credit Union plans to expand into Montego Bay and May Pen later this year, as well as refurbish its head branch to attract more clientele, general manager (GM), Garrett D'Aguilar, told shareholders at the cooperative's annual general meeting...
Carlos Hill to join Hilton board
Cash Plus Group Limited will continue to operate the Hilton Kingston hotel under the international brand, according to the company's attorney, Harold Brady. Brady told Wednesday Business that discussions were held with the American hotel management company...
€100m EU grant aid for Jamaica
The European Union (EU) has increased its aid support to Jamaica for social and economic development programmes over the next five years, under the European Union Development Fund (EDF). The EU has earmarked more than €100 million ($8.5 billion) over the period...
Commodities prices
NEW YORK, United States (AP): A round-up of commodities prices for Tuesday quoted in US dollars:COPPER: The most-active July copper contract rose 0.70 cent to settle at $3.7225 per pound.OIL: June crude oil futures settled up 79 cents at $62.26 a barrel.
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