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Jamaica Gleaner Business
published: Wednesday | April 18, 2007

JCC lashes enviro levy as 'disguised' customs fee - Forecasts shelf price increases
The Jamaica Chamber of Commerce warned yesterday that the $1.2 billion in taxes to be paid by companies under the new environmental levy is onerous on businesses and would also hit consumers in their pockets, suggesting that price increases were inevitable....

Deposit insurance doubled

The government has announced a doubling, to $600,000, of the cap on savings that a depositor is guaranteed to pocket under its deposit insurance scheme, if a licensed deposit-taking institution were to fail. Dr Omar Davies, the Finance Minister, told Parliament last week...

Prime Waterloo property back on market

Businessman Christopher Moore has scrapped his development plans for the one-acre property located at the intersection of Waterloo and Hope roads and has placed the lot on the market, asking for US$1.8 million ($122 million). The one-acre property was previously owned by Century...

Ministry of Finance floats 10-year bond

The Finance Ministry will float a 10-year variable rate bond tomorrow, with the initial interest payment in July fixed at 11.55 per cent, equal to the current yield on prevailing 91-day treasury bill.After the first three months of the issue, interest...

$132b pension fund industry - Sector valued 32% higher on new data

The Financial Services Commission (FSC) now estimates the size of the private pension industry at about $132 billion, suggesting that the size of the sector had been grossly underestimated by about a third by its players and policymakers....

Watts New expanding beyond Kingston

WattsNew Limited, a growing electronics and computer software business owned by Trevor Randle, is building new stores in Kingston and later this year, other parishes. After launching into the market seven years ago, the operators of Watts New will add its first new 3,000...

Suriname telecoms monopoly broken - Digicel enters market immediately

Digicel has secured a GSM licence to offer mobile services in Suriname, the same day that a new law that liberalised the telecommunications sector there took effect."We are entering an exciting new era in telecommunications in Suriname, bringing more advanced services...

PwC Jamaica approved to audit US firms

PricewaterhouseCoopers (PwC) Jamaica is now registered with the Public Company Accounting Oversight Board (PCAOB) in the United States, which allows the firm to audit the books of American companies and their major subsidiaries.The Securities and...

Churches, ICWI pioneer insurance coverage for credit union borrowers

Insurance Company of the West Indies (ICWI) will underwrite a new policy, Personal Accident Plus, that Churches Cooperative Credit Union plans to offer borrowers, a deal sealed March 22 by the chief executives of the two financial institutions.

Iberostar Rose Hall to open in May

The new 366-room Iberostar Rose Hall Bay Resort, the first of three being developed by the Spanish hotel group in Jamaica, will open for business in May."The resort offers a unique blend of elegant colonial styling, lavish services and breathtaking...

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