NWC floats $900m bond - Money to reduce USD debt exposure
National Water Commission (NWC), a state monopoly that produces and distributes potable water supplies, last week floated a seven-year bond on the Jamaican market, successfully raising $900 million after a one-week private placement...
Management changes at Scotiabank - Two positions cut, three portfolios revised
Jamaica's top banking group by deposits, Scotiabank Jamaica, has cut the positions of two senior managers in the latest round of a management shake-up that began with the controversial exit of former chief executive Bill Clarke last year. The Scotia Group...
Chris Dehring replaces Barros as LIME Ja chairman
Chris Dehring, who, two weeks ago, joined LIME's regional business as marketing executive-in-chief, has been appointed chairman of the Board of LIME Jamaica, succeeding Englishman Leonardo 'Len' de Barros, who served in the position for six...
AIC equity fund invests in condo complex
Michael Lee Chin's Caribbean equity fund has closed a US$35-million acquisition deal for part ownership of a condominium complex under construction in Dominican Republic, a month after AIC executives said an announcement was pending. The purchase was...
Watts New to open two stores in Montego Bay
Watts New Limited, a dealer in electronics and computers, has expanded into Montego Bay where it will operate two stores at opposite ends of the city, pushing the number of outlets to five. The store at Fairview Shopping Centre at Bogue opened Monday...
Commentary: Personal financial prosperity versus a failing economy - A true Jamaican puzzle
It's a great puzzle to me and to everyone with whom I speak. They want to know why Jamaica - with proceeds from bauxite extraction for over 50 years, famed Blue Mountain coffee, cocoa coveted for high-end blending, Bob Marley, a vibrant local theatre and arts movement...
Latibeaudiere: Gov't revenue decline slowed by direct tax
Its unpopularity notwithstanding, the skewing of Jamaica's revenue system towards more direct forms of taxes has helped to reduce the fallout from the current economic downturn, tax officials have said. The buffer created by direct taxation, according to Viralee...
$10,000 investment grows into billion-dollar business - Conservatism pays off for Humphries-Lewin
After 32 years in her own business and some 47 years as a stockbroker, retirement is not a primary preoccupation of equities and investment management guru, Rita Humphries-Lewin.
Instead, she is busy writing the prospectus to take public the $1-billion company she started...
Petrotrin battling for survival
Trinidad and Tobago's state-owned integrated energy company Petrotrin is trimming the fat throughout its operation and aiming to become a leaner company to ensure its short-term survival. Petrotrin President Kenneth Allum said the company, which contributes heavily...
Commentary
It should be obvious that discussions about the Jamaican Government's management strategy for the ballooning public sector debt have once again taken centre stage in the current negotiations with the International Monetary Fund ...
Caribbean briefs
Cayman seeks financial input from Reagan adviser - The Cayman Islands is asking Ronald Reagan's former budget director to help it reduce a multimillion-dollar deficit.James C.
Working Jamaicans getting poorer - productivity survey
Labour productivity or output per worker in Jamaica has been declining at an average annual rate of 1.5 per cent, according to data reviewed within a 36-year span, with the situation worsening within this decade. But in the last five years incorporated in that study...
Movements
RJR reshapes cable - Radio Jamaica Limited, having fully executed the deal for 100 per cent ownership of Reggae Entertainment Television (RETV) and Jamaica News Network (JNN), has announced management changes in its cable arm...