Starfish Oils changes ownership
Local manufacturer and exporter of aromatic candles and aromatherapy products, Starfish Oils Limited, was acquired six months ago by Leslie Chang, a developer linked to Surrey Paving and Aggregate Company Limited, the Financial Gleaner understands.
VMBS writes $7bin new mortgages - Portfolio now valued at $20b
Victoria Mutual Building Society may have had a difficult time building its savings base last year, but that did not prevent it from nearly doubling the value of the new mortgages it wrote, when compared 2006.According to the banking group - which...
Pitting the self-reliant against the powerful in world trade
Prime Minister Bruce Golding, speaking at the Michael Manley Award for Community Self-reliance and Environment Foundation of Jamaica Award, at the Little Theatre on Emancipation Day, was critical of the late prime minister."It is something of a paradox...
More expensive cement - Output projected at 470,000 tonnes in six months
Caribbean Cement Limited has raised cement prices, the second time this year, pushing up the ex-factory price per bag of Carib Plus cement by six per cent to $510 as of August 1.
Campbell admitted to high-power group
Courtney Campbell, recently recruited from National Commercial Bank, has joined the most senior company officials in Grace-Kennedy Limited as a member of the GK Executive Committee.Campbell, the new chief executive officer of GK Holdings Limited,...
Contrasting results at Bermuda's big banks
Bermuda's two largest banks reported contrasting financial performances during the past few months as the credit crunch in the United States spilled over into the tiny island's financial markets.Butterfield Bank, the second-largest financial...
Cuba expects sweeter harvest from sugar
Cuba expects to meet domestic sugar demand in 2009 for the first time after a major restructuring six years ago of a once-critical industry, a senior ministry official said Wednesday.Sugar Vice Minister Juan Godefoy said the sugar harvest that ended...
Metals industry acquisitions falter in value - Study detects decline in big deals
THE NUMBER of global metals industry deals remained steady in the first half of 2008, but their overall value declined as attractive takeover targets became scarcer following consolidation, according to a study released...
Unregulated schemes hurt VMBS in '07
WITH ITS deposit portfolio remaining flat last year, Jamaica's second largest mortgage bank, Victoria Mutual Building Society (VMBS), says that its ability to attract savings was weakened by the raft of unregulated schemes that offered super returns to...
Fertiliser war looms
A war is looming in the inorganic fertiliser industry as the Government moves ahead with its plans to import fertiliser while it accuses the island's sole manufacturer of the commodity, Newport Fersan Jamaica Limited, of price overcharging...
Alpart's paternity leave lauded
Mary Clarke, Jamaica's Children's Advocate, has congratulated Alumina Partners of Jamaica (Alpart) on its decision to grant three days paternity leave to its employees."We hope that other organisations, within the private and public sector, will follow...
Citigroup returning billions to investors - Fined US$100m in settlement with federal authorities
Citigroup Inc will buy back more than US$7 billion in auction-rate securities and pay US$100 million in fines as part of settlements with federal and state regulators announced yesterday.
Gasolene retailers, bankslock horns on credit fees
Claims by gasolene retailers that the fees banks charge to process card transactions wipe out their profit and could lead to motorists having to fork out more when they use plastic at the pumps.Or, at an extreme, they may not...
Digicel wins US$2m wireless broadband licence in Honduras
Digicel has landed a broadband licence in Honduras to roll out service on a 2.5 gigahertz spectrum to eight zones.The company said it paid US$2 million for the licence and will be rolling out its WiMAX technology in "the eight most densely populated...
Jamaica reins in spending in June quarter - But foreign bond sends debt soaring
Jamaica has held its two big-ticket spending items in check and has cut more than $3 billion off the central government's bill in the first fiscal quarter to June, according to the finance ministry's report on the...
C&WJ's borrowings grow to $10 billion - Parent refinances Citibank debt
Cable and Wireless Jamaica's (C&WJ) long-term debt has more than doubled in a year to just under $10 billion, but the majority is funds injected by its British parent, which has thrown billions of dollars at the...
Bank of America subpoenaed over sale of securities
Bank of America Corp revealed Thursday that it has received subpoenas and requests for information from various state and federal regulators regarding its sale of auction-rate securities.In a filing with the Securities and Exchange Commission, the...
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