Market capitulates on rates - Benchmark T-bill yields 12.5%
Benchmark T-bill yields 12.5%In what appears to be a capitulation to Government's push to lower rates in line with the Jamaica Debt Exchange (JDX) offer, the monthly treasury bill auction yielded 12.5 per cent on the benchmark six-month bill and 11.68...
Stock market regresses six years - Wealth depleted to $493b from high of $820b
The Jamaican stock market is performing at levels not seen for six years, as equities struggle to compete with other investments, notwithstanding an environment of falling interest rates that, theoretically, should be good for stocks...
Factories Corporation heads uptown - Swaps UDC for NCB as landlord
While other Government agencies have been instructed by Prime Minister Bruce Golding to move downtown, the Factories Corporation of Jamaica (FCJ) has just rested space in the ultra-busy New Kingston business district...
Bond float planned for factories, but Samuda still weighing options
The Factories Corporation of Jamaica will be floating a $1.6-billion bond as debt financing for the construction of 200,000 square-feet of new office space for the information communications and technology sector. But the pricing of the issue is still to...
Mechanics train for Red Seal certification in Canada
The first batch of skilled automotive workers for 2010 left the island in mid-January to take up employment opportunities in Canada through a work-study programme offered by the Ministry of Labour and Social Security (MLSS). The group of 13 auto-service...
Cohen to run NCB Cap Markets
NCB Capital Markets Limited (NCBCM) continues to lose senior staff, but its parent National Commercial Bank of Jamaica is now saying it will not be recruiting a new chief executive for the wealth management subsidiary.Instead, the banking group's deputy...
LIME fetes regional unions to strengthen links - Not a wage pact, says labour boss
Three weeks ago, LIME Caribbean brought together labour leaders from nine trade unions and seven countries in the region in a move both the company and worker representatives are calling partnership building....
UNESCO to relocate downtown - Conference Centre to be its new home
A United Nations (UN) agency, which has its regional office in the upscale business district of New Kingston on Dominica Drive, is making plans to relocate to downtown Kingston. Dr Kwame Boafo, United Nations...
Guyana denies plans to shutter mines
The Guyana government says it has no plans to close the mining industry as workers shut down the gold-mining town of Bartica in the Essequibo river on Monday over measures, they argue, will spell the end of the sector. Prime Minister Samuel Hinds...
CL Financial resignations change nothing - chairman - Carballo replaced; recruitment on for CEO
The resignations of two top executives from CL Financial group last month-end has not affected the restructuring and audit of the conglomerate now under the control of the Trinidad and Tobago government, its top official is contending...
Cable & Wireless finalises demerger - Caribbean now under C&W Communications division
British telecommunications company Cable & Wireless plc (C&W) set out the final terms of its demerger on Tuesday, including a US$500 million bond offer. C&W said it plans to split into two separate companies by March 26...
NCB bracing for JDX losses - Bank to raise fees, cut costs to maintain profits
National Commercial Bank of Jamaica (NCB), having boasted more than 16 per cent gain in first quarter profit, is already bracing for fallouts from the Jamaica Debt Exchange (JDX) programme. But the company has already confirmed ...
Toyota recall a US$1b fix - Too late to prevent backlash, but brand remains popular, poll finds
Toyota Motor Corp's fix for the gas pedal problem that led to the recall of millions of cars has not come soon enough to prevent a consumer backlash in the United States and elsewhere that is battering its sales...
Barbados to propose wage freeze
Prime Minister David Thompson has given a clear indication that he is in support of a wage freeze in Barbados. "Any slight increase in the wage bill will have serious implications, because it means we'll have to look for either cutting expenditure in other areas...
IDB considers additional Haiti debt relief
The Inter-American Development Bank (IDB) is considering a mechanism for the further alleviation of Haiti's US$441-million debt to the multilateral.Last year, the IDB provided Haiti with US$511 million in debt relief as part of an international...
Trinidad floats 6.5 per cent bond
Trinidad has floated a new 15-year bond to fund government's day-to-day operations.The TT$600-million offer opened January 28 and closes February 5 and settlement is on February 9.The bond has a coupon of 6.5 per cent.
Archer Daniels Midland profit slips 2%
Archer Daniels Mid-land (ADM) Company, parent company to Jamaica Flour Mills, said Tuesday its fiscal second-quarter profit slipped two per cent as its revenue was depressed by lower prices for agricultural...
Shell to enter Brazilian ethanol market - Signs US$12b deal with Cosan
Royal Dutch Shell and Brazil's Cosan ethanol producer announced plans Monday to create a US$12-billion joint venture for ethanol production and fuel distribution in Latin America's largest nation.Under a non-binding...