Pan Caribbean falls short - Preference offer undersubscribed
Pan Caribbean Financial Services Limited (PCFS) raised $1.26 billion from its monthlong preference share offer, falling well short of the initial $2 billion target. But yesterday Pan Caribbean president Donovan Perkins downplayed the outcome as significant...
Status quo at Lascelles - Hands-off posture by Angostura ... for now
Lascelles deMercado's top executive William 'Billy' McConnell said yesterday that the group's board and structure will remain unchanged for at least the next three years, despite its takeover by the Trinidadian outfit,...
Office rentals costing Government of Jamaica $1.2b - Stop order on new migration uptown
Government spends more than a $1b each year on property rentals, including machinery and equipment, but Prime Minister Bruce Golding is now looking to erase much of those expenses by forcing the migration of public services back downtown....
First Global eyes $10b loan portfolio
First Global, the minnow among Jamaica's commercial banks, says it intends to double - to $10 billion - its loan portfolio this year and has reorganised to deliver on the promise. "It is a very aggressive strategy that we have embarked on which requires a more innovative ...
$1 billion dairy rescue plan - Milk production at 20-year low
Half a decade after the expensive collapse of a previous initiative, Jamaica's new agriculture minister Chris Tufton is planning another billion-dollar five-year go at resuscitating the island's sickly dairy sector....
Tax man's a-coming - Hunt on for $1.5b from 70 individuals
The Government has kicked off a six-week drive to collect $1.5 billion in outstanding taxes under a new programme dubbed the Enhanced Revenue Collection Drive.Meris Haughton, public relations manager at the Tax Administration Services Department (TASD),...
Dr Henley Morgan, social entrepreneur - Using business principles to uplift the downtrodden
If one were looking for an ideal place to locate a management consultancy service, the first choice would not be the tough inner-city community of Arnett Gardens-Trench Town in the bowels of Kingston. According to the police, there were more than 100 shootings and 30 murders....
How the big brokers stack up
rage, NCB Capital Markets Limited, has more than $150 billion in assets under management, the metric often used to value fund managers, but like the rest of the sector only a portion is captured on the balance sheet. At December 2007, NCB Capital Market reported total assets...
Where's the money going?
National Commercial Bank paid out $1.8 billion in dividends last year, of which Michael Lee Chin's companies would have been allocated the majority of $1.3 billion by virtue of his 75 per cent ownership of the bank. Lee Chin last week said he has reinvested the funds in Jamaica...
Petrobras creates biofuel subsidiary - Plans to raise oil output
Brazil's state-run oil firm Petrobras will create a subsidiary to run its growing operations in biofuels, including biodiesel and ethanol, the company said.The new subsidiary will coordinate biofuel investments that currently...
Jamaica to study maritime space shared with Colombia - Countries collaborating on oil, gas exploration
Jamaica's search for oil is likely to extend beyond the Pedro Cays into the waters known as the Joint Regime Area (JRA) shared with Colombia as both countries begin negotiations for the sharing of resources and information on oil and gas exploration....
Commentary - UWI's genesis and advance - Continuation of a series
The University of the West Indies (UWI) is a living, history and tradition-rich, remarkably vibrant institution that has unquestionably, contributed immensely to our 'West Indian nation'. It is an enduring treasure for us to preserve not as a museum piece but as a live...
UNDERSTANDING THE EPA - Institutional arrangements raise concerns - Supranational council seen as infringing sovereignty
Tucked away towards the end of the Caribbean Economic Partnership Agreement (EPA) with Europe is a section that deals with what are known as the institutional arrangements.This seemingly dry text is in fact of considerable importance not least...
CMP profits up 18 per cent
CMP Industries Limited grew net profit by 18 per cent in its nine months to December 2007, substantially erasing, but not eliminating, losses accumulated on its balance sheet.The company, in its first earnings report under new owner Castelo Holdings,...
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