$1.5b loss hits JP - But Hall promises better times ahead
Weighed down by another big gush of red ink in the third quarter, Jamaica Producers Group (JP) has reported a $1.5 billion loss for the 10 months to the first week of October, but the company's CEO, Jeffrey Hall, insists that shareholders can look forward...
US$60m reform loan for Jamaica
The Inter-American Development Bank has announced US$60 million of loan support for Jamaica, saying the funds will help with the reform of how government funds are spent.
The loan will be for 20 years, with a five-year moratorium or grace period, and priced at a variable rate...
It's a loan, says Port Authority - Royal Caribbean to be repaid US$102m investment in Falmouth pier
The US$102 million that Royal Caribbean Cruise Lines Limited (RCCL) is fronting on the Falmouth cruise pier project will not give the American company an equity stake in the port, the Port Authority of Jamaica has said. The funds representing 45.5 per...
Fitch aligns NCB credit rating with Jamaica's
National Commercial Bank (NCB) has fallen victim to Fitch's downgrade of Jamaica's sovereign rating.The bank's issuer default rating has also been cut from B+ to B, in line with Jamaica's, consistent with the policy of international ratings agency...
Latibeaudiere avoids 'R' word
The Bank of Jamaica said this week that output was likely to be flat in the December quarter, but central bank governor Derick Latibeaudiere steadfastly avoided the word recession even though the economy contracted 0.3 per cent during the nine months between January...
BOJ moves signal difficult times ahead
The two monetary policy measures announced by the Bank of Jamaica this week will, according to central bank governor, Derick Latibeaudiere, soak up an estimated 50 per cent of liquidity in the financial system. Effective December 3, on the expiration of a 15-day...
JPS back in the black - Reports $566m profit, $57b of revenue
Jamaica Public Service Company's fuel bill skyrocketed 73 per cent to $39 billion in the first nine months of this year, but carefully managed expenses has transformed the utility from a lossmaker to a position of strength that comes from having more...
GK sales top $40b, but profit sluggish
Conglomerate GraceKennedy Limited reported a slight dip in earnings in the July-to- September quarter, but its nine-month result indicate signs of a company with strong sales and a slightly better profit outurn. GraceKennedy's bottom line grew 6.7 per cent, from $1.71 billion...
World Bank US$100b lifeline overdue, says Patterson
The World Bank has announced the addition of US$100 billion in assistance for developing countries over the next three years.It's private sector arm, the International Financial Corporation, will be doling US$30 billion in loans over the same to businesses...
COMMENTARY - Avoiding the 'greatest' depression 2009; escaping the liquidity trap
Committed ideologues, left or right, are scary. America's extreme right denies diversity in a world they inhabit; diversity, which by the way, is its true strength.
It is its strength whether as process, natural selection among animals and plants, or human populations...