First shipment in Vulcan, Tank-Weld deal arrives
THE FIRST shipment of 5,000 tons of cement from Vulcan Materials - the largest producer of construction aggregates in the United States - arrived at the Rio Bueno port in Trelawny on Monday under a 10-year deal with Jamaican company, Tank-Weld Metals...
Khemlani Mart to close Tropical Plaza store
ALMOST THREE years after its opening, Khemlani Mart store in Tropical Plaza, St Andrew, is now being closed, the owner has disclosed. The phased closure should be completed within the next three weeks. It is not clear why the owner, Steve Khemlani, is closing the store....
Sagicor gets negative grade from int'l rating company
INTERNATIONAL CREDIT rating agency A.M. Best Company has revised the outlook for Sagicor Financial Corporation and its subsidiaries to negative from stable, citing a significant exposure of the company's revenue, asset base and earnings to a weak Jamaican economy...
Demand for workers falls - MLSS survey
Demand for workers fell by 36 per cent during the last quarter of 2008, according to information released this week by the Ministry of Labour and Social Security on employment trends for the period October 1 to December 31 last year...
Carib Cement announces 20% reduction in profit
CARIBBEAN CEMENT Company is reporting a 20 per cent reduction in profits over the first quarter of 2009, when compared to the corresponding period last year. The company attributes the decline in performance to $199 million in "foreign exchange translation losses"...
Chavez tightens grip on foreign oil
CARACAS, Venezuela (AP): The National Assembly gave preliminary approval Tuesday to legislation that would let President Huge Chavez's government seize control of some oil service companies without following usual legal procedures for expropriating...
Bernanke: US economy should grow later in 2009
WASHINGTON (AP): Federal Reserve Chairman Ben Bernanke told Congress yesterday that the United States economy should pull out of a recession and start growing again later this year.But in prepared testimony to Congress' Joint Economic Committee, Bernanke...
Foreign investors shun Caribbean
(CMC): The United Nations warned on Monday that the slump in foreign investment in developing countries like those in the Caribbean last year was likely to continue for the next two years. Secretary-General of the UN Conference on Trade and Development...
Zachary Harding joins Appliance Traders Ltd
Zachary Harding will take up his position as Chief Executive Officer of appliance dealer, Appliance Traders Limited (ATL) on Monday. Harding, who is known for his marketing savvy, joins ATL after two years of public service...