Jamaica Gleaner Business
Published: Monday Wednesday | August 12, 2009
GK returns to core - Sells stakes in Fidelity, Versair to Goddard
GraceKennedy Limited has sold out its minority interest in Fidelity Motors Limited and its majority holdings in Versair In-Flite Services Limited to partner Goddard Enterprises Limited, saying the divestments were part of a programme to return to core business... Read More...Tastee Limited expands in recession-resistant patty market
Patty and pastry company Tastee Limited has set up a new store in Stony Hill, St Andrew, and says that at least three more outlets in urban centres across Jamaica will be added to the chain in 15 to 18-month intervals... Read More...Drastic spending cuts in July underscore fiscal dilemma
Prime Minister Bruce Golding's disclosure on Tuesday that the adminis-tration had, in the first four months of the fiscal year, spent $18 billion less than it projected suggests "savings" in July alone at nearly five times the level of the previous... Read More...Air Jamaica, NCB ratings also cut
Standard & Poor's has cut credit ratings on Air Jamaica and National Commercial Bank of Jamaica, bringing them in line, as its policy dictates, with Jamaica's sovereign 'CCC+' rating on local and foreign currency debt, down from 'B-'. Read More...Carib Cement sales grow as exports climb - Threatens to sue over local market share
Still facing the prospect of further competition from imports, monopoly cement producer Caribbean Cement Company Limited's domestic sales slumped in the June quarter but were offset by cement and clinker exports... Read More...Cement waiver upheld by CCJ - TCL 'welcomes clarity' of CET suspensions
Trinidad Cement Company (TCL), the parent of seven firms involved in the production and sale of cement in the Caribbean, says it welcomes the clarification of the Common External Tariff (CET) suspension process within the region... Read More...CLICO downgraded to 'weak'
Trinidad-based Colonial Life Insurance Company Limited (CLICO) has been downgraded by international credit rating agency AM Best while still remaining under review with negative implications, the ratings agency announced last Friday... Read More...Venezuela to pay down oil debt - Expects crude prices to drive up economy
Venezuela's state oil company says it has agreed to pay down a US$1 billion loan secured from its United States-based affiliate over a year ago.Petroleos de Venezuela SA said in a statement it would start paying the loan ... Read More...Fed gathers to take US economy's pulse
With the United States (US) economy turning a corner, Federal Reserve policymakers will consider whether some programmes intended to ease the recession and stem the financial crisis should be extended. Fed Chairman Ben Bernanke and his colleagues ... Read More...