National Investment Bank of Jamaica (NIBJ) axes one third of its staff
The National Investment Bank of Jamaica (NIBJ) has already axed a little over one third of its staff ahead of its merger with the Development Bank of Jamaica (DBJ). The cut of 14 staff members, from a complement of about 40, happened at the end of July.
Cable company rolling out high-speed Internet
Logic One has rolled out its high-speed Internet service, and insiders at TelStar say that company is about to follow, as cable companies react to Flow Communication's stated intent to snag some 100,000 broadband customers by year-end.
NHT, mortgage providers form new housing company
The National Housing Trust (NHT) has partnered with two private mortgage providers on a new company that will build houses for retired persons, taking what managing director Earl Samuels says is a minority 30 per cent stake.
Liquor boosts Lascelles profits
Driven by significant improvement in its agri-culture operations as a result of fair weather conditions, conglomerate Lascelles DeMercado and Company is reporting a 13 per cent increase in revenue and a 21 per cent jump in net profit...
Oil price boom could hurt economies
A regional commission has noted windfalls to oil producers like Trinidad and Tobago from price increases in hydrocarbons and minerals, but warns that such surpluses should be administered with fiscal policy...
Jamaica cuts spending, slims deficit in first quarter
Despite continued wage fights with an estimated 35,000 public sector workers, a big ticket item on the budget, Finance Minister Dr Omar Davies has spent $1.55 billion less than planned for a better fiscal outturn than projected...
LETTER: It was a conclusion, not a ruling, says FTC
THE EDITOR, Sir: An article appearing in the Business Section of the Sunday Gleaner on August 6, 2006 erroneously reports that the Fair Trading Commission (FTC) has ruled that there is no evidence of collusion by commercial banks...
Tough fight for Saudi women in media
RIYADH (Reuters): They are few in number but determined to make their mark - women journalists in Saudi Arabia have fought hard to get where they are and say they have more than proved themselves the equal of men.
Jamaican analysts welcome US rate freeze
Jamaica's market analysts yesterday wel-comed the decision by the United States Federal Reserve to halt a more than two-year string of interest rate rises, saying that the action by the Fed is good for the island and other emerging markets.
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