$5b tax error - Computer glitch blamed
The new integrated computerised tax administration system has developed a glitch in its coding system, resulting in the withdrawal of 28,818 income tax payment reminders sent out in error. The reminders to taxpayers, when totalled, demanded payment of some $5 billion.
Alpart looks to expansion - But project awaits feasibility study
But project awaits feasibility studyJohn Myers Jr.Business ReporterAlumina Partners of Jamaica (Alpart), the largest bauxite mining company and a subsidiary of the Rusal group, plans to expand by 350,000 tonnes, but said the project rests on the result...
Jamaica tax system ranked 9th worst worldwide - Drops 13 places in business friendliness survey
Jamaica's reputation as a high tax jurisdiction took a further nose dive this week with the release of the new Doing Business Report 2008, showing that the average company continues to give up more than half its yearly profits in the administration and payment...
MiPhone mum on sale price - Says US$70m figure is Wall Street assessment
The America Movil acquisition of mobile phone company MiPhone was a US$70 million deal, it emerged in the market this week. But Oceanic Digital Jamaica, operating under the brand name MiPhone, on Thursday, refused to confirm or deny the price. "That figure had its origin perhaps...
Norman Manley Airport to double boarding bridges - ThyssenKrupp to get $149m contract
Norman Manley International Airports Limited is investing US$2.13 million (J$149.1 million) in five boarding bridges under the upgrading programme under way at the Kingston-based port. NMIAL plans to procure the bridges from ThyssenKrupp Airport Systems out of Texas in the United States...
ANALYSIS - A near perfect fiscal storm: challenges await JLP
The new Jamaica Labour Party (JLP) government appears to have inherited a near-perfect storm. The administration is facing a current account deficit of around 10 per cent of gross domestic product (GDP) - along with a weakening of foreign direct investment flows...
Marubeni reviews staffing of Caribbean businesses
Marubeni Caribbean Power Holdings Limited (MCPH), three months into its acquisition of Mirant's regional assets, is reviewing the talent within the group in what appears to be an efficiency audit. Early indications are, however, that the Japanese company is looking at redeploying...
Carbon credit trading debuts on Brazil stock exchange
A Dutch-Belgian bank paid €13 million (US$18.5 million) for carbon credits yesterday in what the Brazilian bourse called the first such auction on a regulated exchange.Fortis Bank bought all 808,450 metric tonnes (891,163 imperial tons) sold on the Sao Paulo-based Brazilian...
Byron Kerr to invest $400m in 'Argyle'
Kravitz Homes Limited, a Kingston-based developer is investing $400 million in a new housing development to be called the Argyle. The project, comprising 35 one-and two-bedroom apartments, broke ground on Musgrave Avenue, Kingston, yesterday.
Blythe awaits 'good offer' for CVM stake
Former owner of the UGI, Neville Blythe, denied this week that he has divested his 20 per cent in CVM Television, but told the Financial Gleaner he is willing to sell if he got a 'good offer'.Blythe, the managing director of Guardian Insurance Brokers...
Guardian exploring regional acquisitions in Spanish territories
The Guardian Holdings Group said this week it is looking to the region's Spanish-speaking countries for growth opportunities, and is in negotiations with unnamed parties.
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