US$1b currency defence - BoJ predicts inflation of 13%, says dollar slide a factor
The central bank has projected that inflation will at least double the Government's initial projection of six to seven per cent this fiscal year and has warned that rising prices will help to further weaken the Jamaica dollar.Bank of Jamaica has already pumped about US$1 billion...
Group office of Lascelles deMercado and Company Limited, Dominica Drive, New Kingston. - Lascelles stock skyrockets mid-week - Carreras says no regrets over early sale
Market excitement was unabated over Angostura's US$921 million ($65.7 billion) bid for a stake in Lascelles, rocketing the conglomerate stock to $546.24 Wednesday, and coming within a hair's breath of triggering the circuit breaker....
Acropolis expands to May Pen
Supreme Ventures Limited, looking to deepen its penetration of the gambling market, has expanded its Acropolis Gaming & Entertainment Centre to the Clarendon capital, May Pen, pumping more than $150 million into its start-up. The 9,600 square-foot facility, the second...
Hong Kong firm gets third oil-exploration licence
The search for oil is gaining momentum with a third licence, approved by Cabinet last week, awarded to a Hong Kong-based firm to conduct exploration activities in Jamaica's waters for oil and natural gas deposits. Hong Kong's Proteam has been given the rights to explore...
Heavy-hitting Spanish investors to meet with Prime Minister
Some of Spain's most powerful investors are confirmed for a luncheon with Prime Minister Bruce Golding this afternoon in Kingston, the Financial Gleaner has learned.This is the first contact that Golding is having with the presidents of the groups whose investments...
Spanish hospital group to invest in hospital for tourists
A Spanish developer is eyeing lands in Montego Bay for construction of a hospital complex to be marketed at tourists. Pedro Luis Cobiella-Suarez of Grupo HOSPITEN scouted locations in the island in September and met with Tourism Minister Edmund Bartlett ...
'Illegal' income subject to tax - Specialist says most investment schemes non-compliant
The Financial Services Commission (FSC) says it has detected nearly two doze investment schemes operational in Jamaica, suggesting a surge of business, and the tax authorities are again warning that returns paid to investors, even from the illegal operators, are considered....
Air Jamaica, SCJ too costly to keep, says Wehby - Senator to propose cap on debt and deficit
Senator Don Wehby, Minister without portfolio in the Ministry of Finance and Public Service, is insisting that national airline, Air Jamaica and the Sugar Company of Jamaica (SCJ) must be divested if the Government is to cut the fiscal deficit and reduce the public debt....
Palmyra upgrades to condo hotel - Adds US$25m to project cost
Jamaica's first luxury beachfront residential community, the Palmyra Resort and Spa Development at Rose Hall in Montego Bay developed by the Rollins and Family, has upgraded its 16-acre development into a condo hotel. The revisions have added US$25 million to the development...
CWJ names new CFO
Cable & Wireless Jamaica (CWJ) has announced the appointment Eduardo Ryan, as the company's new chief financial officer, reporting to President Phil Green.Ryan assumed the position this month, replacing Mark Thompson who resigned in April and is now employed...
Smart growth with development: Pushing knowledge, science, technology
Over the past few weeks, I have been exchanging emails with an enterprising Jamaican scientist.Our discussions restarted with a chance meeting a few months ago during which it was difficult for him to control his enthusiasm for the work he was doing.
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