Risk system overhaul, expansion at First Global - Growth plans, new group compliance platform spurred by crisis
Executives of GraceKennedy's banking outfit, First Global Bank (FGB), insist that growth plans had always been on the table, but acknowledge that the recent US$19-million (J$1.6 billion) bond trading loss has jolted the bank into bringing forward a blueprint for the expansion...
ECB, BoE leave rates at record low
Central banks in the euro-zone and the United Kingdom both left their key interest rates unchanged Thursday at record lows, in line with expectations. The European Central Bank's (ECB) main refinancing rate remains at 1.0 per cent while the Bank of England ...
Pegasus sale advisers begin review of proposals
Scotia DBG Investment, lead broker and financial adviser for the equity sale of the Government's near 60 per cent majority stake in Kingston's leading hotel, Jamaica Pegasus, will begin reviewing expressions of interest received for the shares."..
Goodyear shareholder compensation on the way - First payout: $3.75 per share
Shareholders of Goodyear Jamaica Limited, which is in liquidation, can expect an interim payout before year's end, according to liquidator Anura Jayatillake of Deloitte Touche Tohmatsu in Jamaica, a year after the tyre company announced ...
UWI economic forum - Economist wary of IMF - Academic, analysts suggest different approach to containing debt
Wary that the International Monetary Fund (IMF) might not have fully shed its perceived draconian tactics, economist Dr Michael Witter is batting for Jamaica to create a special team whose job would be to provide answers to shrinking the country's trillion-dollar debt...
NCB to close five of nine agencies - To redeploy employees
National Commercial Bank of Jamaica Limited (NCB), come mid-October will shutter five of nine agencies or sub-branches - four in rural Jamaica and one in Kingston - consolidating the operations into their larger full-service branches ...
JLA feed inventory decimated by theft - Staff replaced, rebuilding begins
A loss in excess of $120 million worth of animal feed from its warehouses, due to theft, has caused the Jamaica Livestock Association (JLA) a significant setback in its effort to turn around sales and recoup profitability and has forced the company take stock...
Insurance companies get green light to sell foreign-currency policies
Cabinet has cleared the way for Jamaica's insurance companies to issue policies denominated in foreign currency, with oversight from regulator the Financial Services Commission (FSC), and opening up the market beyond a limited few already offering such...
Combating Jamaica's recession
The global recession has hit Jamaica hard. Bauxite plant closures, significantly reduced tourism demand and fallout in remittances have added to our excellent record in both tax avoidance and evasion...
Issues that constrain the OCG
Contractor General Greg Christie submitted copies of the 22nd Annual Report of the Contractor General for calendar year 2008 to both Houses of Parliament by letter dated August 24, 2009. The report has been duly tabled but to date there has been no notice...
MOVEMENTS
New Seprod chairman - Paul Scott, who now runs private conglomerate Musson Jamaica Limited, was elected chairman of Seprod Limited on Monday, October 5. Musson is the single largest shareholder in Seprod, a publicly traded company....