Jamaica Gleaner Business

Published: Monday Friday | March 20, 2009

$100m upgrade for Boscobel aerodrome - Duckenfield idea shelved, Ken Jones bypassed
Government has, at least for now, shelved its plans for a new interna-tional airport for eastern Jamaica and will, instead, expand and upgrade the aerodrome at Boscobel, St Mary, on the island's north-eastern shore. The decision to go ahead with the $100-million... Read More...

Dodgy loans rise as borrowers fall into trouble - Business leaders call for lower interest rates
Jamaican banks pumped up their loan portfolios by nearly 60 per cent in the two years to last December, but their dodgy debts jumped a staggering 80 per cent, to approximately $9.8 billion, a new central bank report shows. However, the problem of borrowers' failure... Read More...

Montego Bay's Barnett estate rezoning started in 2000
The new $356 million information technology park being spearheaded by Montego Bay businessman Mark Kerr-Jarrett has been made possible through a nearly nine-year-old approval granted by the Government that allows for much of the former Barnett sugar... Read More...

Jamaica helping to fashion CARICOM financial oversight
Jamaica is part of efforts by regional authorities to determine the real size of the financial hole - estimated at up to US$2 billion - being left by the meltdown of the Trinidad-based Caribbean conglomerate, CL Financial Group, and Kingston has promised to help guide... Read More...

Supreme Ventures posts lower profit in first quarter
Gaming company, Supreme Ventures Limited (SVL), has recorded depressed first quarter results showing net profits tumbling 19.56 per cent in the period to the end of January, reflecting anaemic revenue growth and burgeoning pay-outs particularly on its Cash Pot lottery game... Read More...

BNS, PriceSmart to launch credit card
Promising its 30,000 or so member shoppers significant savings, bulk retailer, PriceSmart is teaming up with Scotia Bank Jamaica to launch their co-branded credit card next week.The Scotiabank PriceSmart Diamond MasterCard will be offered at a 49 per... Read More...

AIG, 'looting' and CARICOM's financial regulatory needs
Last week's column mentioned Akerlof and Romer's concept of 'looting' in their 1994 National Bureau of Economic Research (NBER) working paper: 'Looting: The Economic Under-world of Bankruptcy for Profit'. Read More...

Unsolicited advice on the 2009-2010 budget
Dear Minister: In approximately three week's time, you will be laying the Estimates of Expenditure for the upcoming fiscal year 2009-2010 on the table of the House of Representatives. Read More...

Wisynco to spend millions on food, drink market expansion
Coming off a recent J$500 million plant expan-sion, manufacturing and distribution company, turned fast-food operator, Wisynco, is leveraging its joint marketing deal with juice maker, Ocean Spray, to get its new cranberry-flavoured water into new overseas markets... Read More...

Capital and Credit Remittance appoints general manager
Capital and Credit Remittance Limited (CCRL) has appointed a general manager to operate its local remittance business.On March 1, 2009, Sheron Dixon-Brown, formerly the manager of remittance services... Read More...

Why the BoJ can't deliver growth - Pt IV
The accumulation of our net international reserves (NIR), because of its direct link to an ever expanding 'emergency' import index, and being funded by expensive 'open market' instruments/liabilities, if continued, will result in further financial... Read More...