Flow blocked - Land deal puts US$20m operations centre on hold; 500-acre free zone at risk
Columbus Communications, trading in Jamaica as Flow, is to transfer its operational base to Caymanas in St Catherine, a plan the company said would cost US$20 million ($1.4 billion). But now the cable company is complaining that its plans to buy the property are being blocked...
Port Authority to float int'l bond
The Port Authority of Jamaica will be tapping the international market for funds, but said this week that its plans for the bond placement, including timing and the size of the offer, would rest on advice from its consultants. The Noel Hylton-lead Port...
Gleaner takes steps to improve ownership transparency
Gleaner Company shareholders yesterday approved an amendment to the company's rules that would give directors the right to demand the identities of hidden stockholders, but the change requires approval from the Jamaica Stock Exchange before it can be implemented...
Pepsi Jamaica dives into flavoured-water market
Pepsi-Cola Jamaica Bottling Company Limited has set sights at 10 per cent of the water market, having launched a new line of flavours at the top of the month under the Essential brand. General manager for Pepsi-Cola Jamaica Andrew Reid, told the Financial Gleaner...
Economy grew 0.2% in March quarter - But PIOJ maintaining 3% annual forecast
The Planning Institute of Jamaica (PIOJ) is maintaining its 3.0 per cent projection for GDP growth, presenting a more optimistic picture than the central bank which expects that external events could slice 0.4 per cent off the target for output...
Cut the budget, hike interest rates, IMF tells Jamaica
The International Monetary Fund (IMF) this week gave thumbs up to the Jamaican government's efforts at creating what it referred to as 'a virtuous cycle of lower debt and higher growth', but suggested the administration could better meet its fiscal...
Scotia launches $586m banking centre project
Scotia Group Jamaica, the number one banking group by capital base, will today roll out a half a billion dollar plan for a new branch that encapsulates its banking, investment and insurance services. The company this week advised in a press notice that the new branch would cost $410 million...
Mullings to seek legislative approval for E10 fuel plan
Jamaica is in the process of searching out a supplier of equipment needed to dispense ethanol-based fuel, E10, at local gas pumps, a programme that Jamaica anticipates will cut $2.3 billion annually from its energy bill."We are now at the point where we...
A blinkered view of forex traders, financial innovators
Foreign exchange trading is a burgeoning element of world financial activity. Its phenomenal growth results from multiple factors interacting as the concept of globalisation took hold of the imaginations of vast numbers of people.I speak of globalisation...
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