'Business as usual at Lascelles' - Bond float puts conglomerate at centre of Clico drama - NCB won't disclose exposure
Jamaican investors could be exposed for as much as US$40 million from a bond that Lawrence Duprey's tottering CL Group raised on the local market last June to help finance its US$700 million acquisition of Lascelles deMercado. Yesterday, NCB Capital Markets/NCB...
After two decades, Salada to pay dividend
Salada Foods Jamaica Limited is writing a new dividend policy, and will, after more than two decades, pay a dividend to its 525 shareholders, starting in financial year 2009/2010. The coffee processing company is now controlled by Donovan Lewis, through...
Sugar company to lose another $4.2 billion
The state-owned Sugar Company of Jamaica (SCJ) continues to rack up huge losses even as a failed bid to offload the ailing entity to Brazilian firm, Infinity Bio-Energy (IBE) since last year, has now forced the Government back to the divestment drawing board...
CL's bailout face parliamentary hurdle
The Patrick Manning administration heads back to the Trinidad and Tobago parliament today hoping to push through amendments to the island's central bank and insurance industry laws to give regulators formal authority to take over the investment banking and insurance...
Movements - FirstCaribbean snatches corporate banker from NCB
Gerald Anthony Reid Wight has joined First-Caribbean Jamaica as director of corporate banking, a slot that became vacant after Clovis Metcalfe was named head of the bank.Wight has worked in finance for 15 years, the last three of which were with...
New Carib aviation body to be launched today
CARICOM will today launch a new oversight body for aviation that is meant to bring the Caribbean a step closer to its goal of a regional industry guided by the same rules and standards. CARICOM said yesterday that the new Caribbean Aviation Safety...
Cuba hands out 45,000 land parcels to farmers
Cuba has distributed more than 45,000 parcels of unused state land to private farmers and other citizens, asking them to revitalise an agriculture sector crippled by decades of government mismanagement, state news media said Monday...
Bankrupt Virgin Islands telecom may get new owner
A United States financial cooperative has offered to acquire a Caribbean telephone operator and other assets of a company that owes it US$525 million.National Rural Utilities Cooperative Finance Corp, based in Herndon, Virginia, said it would acquire...
Posh lifestyle prompts probe of Carib leader
With two private jets on call and a Hollywood wife, the Turks and Caicos prime minister lived like the rich and famous who have made the Caribbean island chain one of the hottest spots for celebrities. Michael Misick says his lifestyle allowed him...
Irish debt crisis
Irish Prime Minister Brian Cowen unveiled sweeping plans Tuesday to impose hefty paycheck deductions that he hopes will reverse Ireland's budget deficit and convince foreign analysts that the country is not at risk of bouncing its checks...
Luxembourg to shut down Madoff-linked hedge fund
Luxembourg financial supervisors said yesterday they would shut down the Luxalpha hedge fund that invested heavily in a massive pyramid scheme allegedly operated by United States financier Bernard Madoff. Luxalpha was promoted by Swiss bank UBS AG ...