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Jamaica Gleaner Business
published: Friday | August 31, 2007

Flow invests$14b in network - To spend another $15-21b over three years
Michael Lee Chin's Columbus Communications, operating as Flow in Jamaica, has invested $14 billion (US$200 million) to establish the brand, buy up rivals and roll out service since its launch two years ago. The company saidall the funds were spent on building out its infrastructure....

Early closure for banks on election day

The Jamaica Bankers' Association (JBA) has advised that all 10 commercial and merchant banks will closed at noon on September 3, the day of the national election."This will allow staff members to exercise their right to vote and facilitate efficient...

Dean's damage below deductible on regional insurance policy

Caribbean Catastrophe Risk Insurance Facility (CCRIF) calculations show that the storm damage from Hurricane Dean falls below the deductible on the policy, says Dr.

Limited stock market trading on election day

The stock market will close early on Monday, the day of national elections.The Jamaica Stock Exchange said it would cease trading at 11:30 a.m. and that the exchange and its subsidiary, the Jamaica Central Securities Depository, would close at noon.

Finsac and the 'mismanagement' of the financial sector crisis - A response to columnist Wilberne Persaud

Having read the recent articles by your business columnist, Mr. Wilberne Persuad, about the demise of the domestic financial sector and Finsac where he has sought to rebut analyses and views that I have expressed, I am responding to a few matters of substance that he has addressed.

Bauxite targets on track - Jamalco looks to Port Esquivel to ship supplies

Jamaica's bauxite sector lost four to five days of production as a result of Hurricane Dean, but sector expert Dr. Paris Lyew-Ayee said that with the swift recovery, export targets are unlikely to be disrupted. "Overall, we fared well," said Lyew-Ayee, director general...

BNS profits dip four per cent in third quarter - But Scotia Group results strong

Bank of Nova Scotia Jamaica Limited (BNS) recorded net income of $1.6 billion for its third quarter ending July, a 4.4 per cent decline that flowed from a near $400 million increase in operating expenses. During the quarter, the bank's net interest income was up by $300 million...

The hardest-working finance pros - It's not the Americans

London and New York may be fighting it out to be the world's financial centre, but it is financial professionals in tiny Luxembourg that work the longest hours in the world.A survey released on Tuesday by financial recruitment firm Robert Half found...

Petrojam shutdown averts 'Dean' damage

The state-owned Petro-jam escaped the wrath of Hurricane Dean, and says the gas price increases at the pump have no links to the storm."The damage was minimal and a big part of the reason for that is the preparations that were made by our technical and operating staff prior...

Enabling a better, more mature Politics

I suggested in a previous column, the idea of open endorsement of political parties in their bid to secure the right to govern Jamaica.Business people and interest groups, by any of a number of indicators, are well equipped to adduce good reasons for endorsing a party's programme.

Few management changes at JPS - Obiglio still reports to Atlanta

Although under new ownership since August 8, the Jamaica Public Services Company (JPS) has retained most of its executive structure and reporting structure. JPS President and Chief Executive Officer Damian Obiglio, still reports to Atlanta, but now he answers to Tomofumi Fukuda...

Subprime inflicts new damage as banks seek cash

New evidence of damage wrought by the American mortgage sector surfaced in the United States and Europe on Wednesday while banks demanded a record amount of cash at a euro zone money market auction. Cheyne Finance Plc, a structured investment vehicle (SIV) managed by British hedge fund...

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