Pan Caribbean now a commercial bank - Starts offering services June 23
Pan Caribbean, the Jamaican merchant banking subsidiary of the Sagicor Group, has completed its transformation to a commercial bank and will begin offering the requisite services to client as of Monday. In fact, the company announced yesterday that it has dropped the 'merchant'...
Jockey Int'l 56,000-sq ft plant for sale - Sandy Bay factory also on the market - Samuda fights to save jobs
Jockey International is hunting a buyer for its 56,000-square foot plant in Hanover, a fixed asset it will no longer need after its pull-out of Jamaica in six months. Anxious to replace the 575 jobs that will die when the American company locks down its garment...
Another NHT amnesty
Defaulting companies and self-employed contributors who have failed to pay over contributions to the National Housing Trust (NHT) have a six-month window to make restitution at reduced penalty.Payments made by August 31 will get 100 per cent waiver ...
Pan Caribbean sells 25% stake in MCIS - JN now in full control
JN now in full controlPan Caribbean Financial Services Limited (PCFS) has now fully divested its interest in Manufacturers Credit & Information Services Limited (MCIS), selling its 25 per cent share to Management Control Systems, a subsidiary...
BOJ back in the market as dollar slides again
The Bank of Jamaica has returned to the foreign exchange market, selling foreign exchange to its primary dealers at least twice in less than a week to contain the fall of the local currency. The Jamaica dollar is on a march back to levels last seen in...
JIO outsources highway job to Minott subsidiary
Jamaican Infrastructure Operator Limited (JIO), the managers of the toll infrastructure for Highway 2000 has since May, outsourced the core aspect of its operations to Management Services Limited, a human resource company...
Ex-Bear Stearns managers arrested at their homes - First subprime executive indictments after year-long FBI probe
TWO FORMER Bear Stearns managers have been arrested, federal authorities said yesterday, becoming the first executives to face criminal charges related to the collapse of the subprime mortgage market.Matthew Tannin was taken into custody outside his New...
JPS underperforming, says Marubeni - But Japanese company mum on possible sale
Marubeni has now identified the Jamaica Public Service Company as one of its underperforming assets, but Japanese chairman Tomofumi Fukuda refused to confirm or deny that it was among assets targeted for divestment. Marubeni Corporation, Japan's fifth...
Landmark tax case - Ruling will clarify scopeof Hotels Incentive Act
In what is expected to be a landmark decision, Jamaica's Court of Appeal is expected to rule next month whether interest on securities - as opposed to trading profits - earned by hotels that are covered by the government's special incentives regime should be subject to income tax...
Lawyer to Air Jamaica pensioners ... 'Come for your money'
Some two thousand 'tardy' beneficiaries of the defunct Air Jamaica Pension Fund have until August 15 to apply for their share of surplus funds. After that, whatever remains of the $21 million still to be shared will revert to the government...
Jamaica 2020: A vision of indebtedness
No we're not speaking of Jamaica's perfect vision for the future. We are doing something everyone knowledgeable of history knows is foolhardy yet indulges in: predicting the future and speaking authoritatively about conditions more than a decade away.
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