'I'm greedy in crisis' - Lee Chin exclusive - Upbeat billionaire says best deals abound during recession
Billionaire Michael Lee Chin is looking around for businesses to buy, saying now is the best time to snatch up deals."I am the product of a rolling series of crises," declares the Jamaican who has made his home and fortune in Canada. Lee Chin is positive that he and AIC Limited...
Internet phone company up for sale
Call the Planet (CTP), the small Canadian-based internet phone venture that entered the Jamaican market in 2003 is being downsized and offered for sale, president and CEO, John Eitel, has confirmed to the Financial Gleaner. The company says since inception it has invested...
Steven Gooden leaving Pan Caribbean
Steven Gooden, general manager of Pan Caribbean Asset Management Limited, has resigned from the post after more than two years in the job to take up 'a new opportunity'.Sources in the know say Gooden will be joining NCB Capital Markets, which has been...
Golding cautions against speculation - Says Jamaican economy will decline 2.2% this year
Prime Minister Bruce Golding suggested Tuesday that at least one major corporation was among those responsible for driving down the value of the Jamaican dollar, even as he cautioned those, acting out of a profit motive, not to hold on to the cash to drive ...
Air Jamaica to fly cargo on cancelled routes
Air Jamaica followed through this week on its planned cut of six routes from its North American and Caribbean itinerary, but the airline will continue to do business through those gateways, contained to the movement of cargo which it finds far more cost-effective...
Logistics company offers real-time cargo tracking
Faced with a 30 per cent fall off in businesses since last year, Aeromar Logistics (AmLog), a third party logistics company, has launched a US$30,000 interactive website, which the company will be using as a marketing tool to leverage business...
OBAMA'S FIRST BUDJET - Obama unveils US$3.55 trillion budget
United States president Barack Obama has unveiled a US$3.55 trillion spending plan for next year that would boost taxes on the wealthy and curtail Medicare to make way for a US$634 billion down payment on universal health care...
Obama plan brings cries of class warfare - He's not being timid, that's for sure
United States President Barack Obama's first federal budget lays out the most far-reaching agenda for American life since Lyndon Johnson's 'Great Society' in the 1960s.But paying for it by having upper-income earners...
NCB Capital Markets adopts more sober approach to risk
Sobered by a J$1.23 billion write-down last summer and a substantial decline in profit performance, NCB Capital Markets Limited (NCBCM) is promising to place new limits to its use of leverage and adopt a far more conservative approach ...
Antigua PM urges seizure of Stanford land
Antigua and Barbuda's prime minister on Wednesday urged the tiny Caribbean country's lawmakers to approve an emergency plan to seize property and assets owned by beleaguered financier R. Allen Stanford, the island's largest private employer...
Venezuela freezes Stanford bank board assets
A Venezuelan court has frozen the assets of board members who headed a bank controlled by Texas financier R. Allen Stanford, prosecutors said Wednesday. Venezuela's government last week seized temporary control of Stanford Bank SA after panicked ...
COMENTARY - A bill to amend the companies act
The current Companies Act came into force February 1, 2004. One of the deficiencies of the 2004 Act is that companies formed under the repealed Companies Act of 1965, called 'existing companies', are not legally able to amend their memorandum of association....
MOVEMENTS
Hanworth selected - Paul Hanworth was appointed director of the Jamaica Property Company Limited effective January 29.