Jamaica Gleaner Business

Published: Monday Wednesday | January 6, 2010

BOJ propping up Government - $23b of support in two months
Dr Omar Davies' charge that a $3 billion advance to government by the Bank of Jamaica (BOJ) in November was unsecured funds that amounted to the printing of money, has been followed by an admission from the central bank that its support to the Golding administration... Read More...

Mortgage bank re-enters the secondary market - Buying loans to bolster revenue, credit pool
Continuing to bleed from stalled lending to a slowed construction sector, coupled with the stranglehold of a mountain of bad debt, the Jamaica Mortgage Bank (JMB) is set to restart its programme of buying mortgages to provide an additional income stream.... Read More...

CCCL to issue 15m of new pref shares to TCL - Shareholders approve debt conversion plan
Shareholders of Caribbean Cement Company Limited (CCCL) voted Tuesday in favour of the plan that would solidify Trinidad Cement Limited's hold on the Jamaican operation, but would also free the operation of US$15 million ... Read More...

M&M in line for $2.7b housing contract - NHT to develop 833 more units at Longville
M&M Jamaica Limited, an engineering and project management firm headed by Don Mullings has landed a $2.7 billion contract from the National Housing Trust (NHT) to develop 834 houses and house lots at Longville Park in Clarendon.... Read More...

JPS recommissions hydro plant
Jamaica Public Service Company Limited (JPS) has put back its first hydro plant back into service, spending US$1 million to add 0.77 megawatt of capacity to the grid.JPS said the Constant Spring Hydroelectric Power Plant that was recommissioned... Read More...

Australia chips in to CARICOM Fund
Australia is providing one million dollars (US$884,500) to the CARICOM Development Fund (CDF), the Caribbean trading bloc has announced, following a meeting between CDF chief executive officer, Ambassador Lorne... Read More...

Venezuelan loan to build second airport in Haiti
Venezuela is lending the Haitian government US$33 million to turn a run-down airfield in the country's north into a major international airport and boost tourism hopes, a Haitian lawmaker has said.Senate President Kelly Bastien told Radio Metropole... Read More...

Decline forecast for Grenada in 2010
Grenada's prime minister Tillman Thomas expects the Caribbean island's economy to shrink 1.8 per cent in 2010 before returning to growth in 2011. The gross domestic product fell 7.7 per cent in 2009 due largely to declines in construction... Read More...

Berkshire opposes Kraft share issue in Cadbury takeover
Billionaire Warren Buffett's Berkshire Hathaway Inc voted against Kraft Inc's proposal to issue 370 million shares to finance its bid for British candymaker Cadbury PLC, saying the plan gives Kraft... Read More...