BoJ signals interest rate policy shift
At first blush, the 133 basis point cut on a single open market instrument of six in the central bank's arsenal seems a token concession to corporate Jamaica which wants interest rates to be cut. But yesterday analysts polled by the Financial Gleaner suggested ...
2009/10 budget - CAP, Sugar Company get billions in government subsidy - Air Jamaica turns to the market
The Bruce Golding administration, it appears, does not expect to land a buyer for the assets of the Sugar Company of Jamaica - at least not this year - indicating that the state-run operation as well as the lagging fortunes of the bauxite alumina sector will weigh heavily ...
Government spending at a glance - New Budget implies larger revenue package, wage freeze
Assuming a deficit of 6.0 per cent of GDP last fiscal year, which should be in the region of about $55 billion, achieving the programmed expenditures in the upcoming budget will require tax and non-tax revenues and grants of around $340 billion to $350 billion...
Jamaica unwavering on offshore centre plan - Project funds grow seven-fold in new Budget
Jamaica will push ahead with its plan to establish Jamaica as an international financial services centre to capture a piece of the lucrative offshore market within the Caribbean, notwithstanding a renewed crusade by rich countries to clamp down on tax havens worldwide...
OECD tax haven lists
The Organisation for Economic Cooperation and Development published a report last week on progress by 84 countries and territories toward financial openness on the exchange of tax information. The OECD divides countries into three categories...
Duncan-Scott takes on bigger role at JMMB
Donna Duncan-Scott has taken on an expanded role in Jamaica Money Market Brokers (JMMB) as head of human resources, stepping into a vacancy created by the resignation of Lola Fong Wright....
Alcoa reports US$497m loss
Alcoa Inc said Tuesday it lost US$497 million during the first quarter, as the global economic crisis continued to erode prices and demand for the lightweight metal.The loss was Alcoa's second in the past two consecutive quarters and underscored...
New JPS owner offers to buy US$280m bonds - Jamaicans among investors to cash in
MaruEnergy Caribbean, the firm that appears to be the holding company for United Arab Emirates-based Abu Dhabi National Energy Company (TAQA), has made a mandatory offer to buy back US$279.8 million in bonds issued years ago by the corporation's light and power operations in Jamaica...
G-20 reality trumps wishful thinking
Facts of the world economy in recession are readily available and generally agreed. Significant job losses abound in Spain, Ireland, United States and China to name but a few. Global gross domestic product is set to shrink one and a half per cent this year.
Jamaicans, businesses deserve expert inflation management
In true Jamaican style, we have been generating much heat, reactions and focus on the results of poor inflation management on interest and foreign exchange rates, but with an equally deafening silence on the causes...
RJR signals radical changes to rein in costs - Cable turnaround to lead profit recovery
The recent axing of 32 staff positions at RJR Group may be the last of the people cuts for now. But that does not mean that Gary Allen, the head of the media company is not on the hunt for ways to trim more fat...