Iberostar to build six more hotels - Two in Jamaica
Spanish investors Grupo Iberostar said it will invest US$300 million this year and open six hotels in Jamaica, Brazil, Morocco and the Dominican Republic. Of the six resorts, the company will unveil two five-star hotels in Jamaica - Iberostar Rose Hall Suites and Iberostar...
Burdened by debt, Port Authority to refinance $10b of its loans- To follow Merrill Lynch's advice
The Port Authority of Jamaica's (PAJ) debt burden is overpowering its balance sheet, and the agency is predicting that the situation will worsen this year with expectations that its long-term loans will shootup by almost $10 billion or 46 per cent, from $21.8 billion to just under $32 billion....
Seprod joins billion-dollar club
Seprod Limited has posted record net profit in its 2007 financial year, hitting the billion-dollar mark for the first time, boosted by one-off receipts from the sale of its interest in several businesses. The $1 billion profit or earnings per share of $1.96 posted by the manufacturing...
Davies wants regulatory review - Says Parliament should debate new rules - Shaw faces criticism
Shadow finance minister Dr Omar Davies has called for a major review of the oversight mechanisms for Jamaica's financial system and has suggested that the two major regulatory agencies, the central bank and the Financial Services Commission (FSC) be asked to prepare wish lists...
John Allen, challenged by fertiliser's elasticity - As prices spike, Newport-Fersan's market erodes
John Allen, general manager of Newport-Fersan has something every farmer wants and needs: fertiliser.And as the sole supplier of fertiliser in the island you'd expect Allen, an agronomist by training, to be ecstatic each time...
Who has call on Carlos Hill's stash?
Cash Plus receiver Kevin Badoian is not yet factoring the supposed US$7 billion that the company's arrested founder, Carlos Hill, allegedly has stashed in accounts across the world.The bald fact is that if the money really exists, Badoian doesn't know...
The 2008/09 Budget - A review
Minister Audley Shaw's 2008/09 Budget presentation in Parliament last Thursday was the first by a Jamaica Labour Party (JLP) administration in 20 years. Much expectation accompanied the change in administration with the Jamaican public anxious to see delivery on pre-election promises...
LOJ awaits KSAC approval on Seymour lands development - Project to cost $1.6b
Life of Jamaica, the insurance-based group, says it is about to start its residential development in Kingston's sought-after golden triangle region, which will bring up to 55 homes to the market at between $25 million and $40 million a piece....
TCL files suit against Guyana - Claims failure to protect cement market
Guyanese President Bharrat Jagdeo has hit out at the Trinidad Cement Limited (TCL), saying the regional company was taking advantage of the Guyanese market. Jagdeo's comments came on the heels of the court action initiated by TCL Guyana Inc against his government...
Fluctuating monetary value, a challenge for growth
"Long run is a misleading guide to current affairs.In the long run, we are all dead." So says Maynard Keynes in his 'A Tract on Monetary Reform'. Keynes also wrote perhaps the most insightful view of the true impact and objective of inflation created by governments as a matter of policy.
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