J$30b Government stash - CTMS to locate, unlock idle funds

A senior technical officer in the Ministry of Finance says the Central Treasury Management System (CTMS) now being developed for Jamaica will provide the tools to track Jamaica's financial resources more efficiently, allowing the Government to craft...

More waterfront land for sale

The Urban Development Company (UDC) has placed on the market another waterfront property in downtown Kingston - the old fisheries complex on Port Royal Street. UDC is targeting investors capable of developing a structure no more than 12 storeys...

KRC offers sublease for old rum stores

The Kingston Restoration Company (KRC) is seeking candidates to rent downtown property, which it says can be used for any labour-intensive venture, including information technology projects.KRC executive director Morin Seymour...

Payless to set up 10 stores, three already open

Low-cost American footwear chain Payless ShoeSource plans to roll out 10 stores across Jamaica, creating between 70 to 100 jobs.

Tax error eliminates Pegasus surplus

A TAX audit of Pegasus Hotels of Jamaica has found that the company did not pay over income tax on gratuity and allowances for workers for four years, negatively affecting the company's retained earnings by some J$37...

IMF open to new standby agreement with Jamaica

THE TOP two technocrats that interface between Jamaica and the International Monetary Fund (IMF) are backing the Golding administration's moves toward a pro-growth programme, a direction that implies some amount of new spending...

Remittances recover, but still below 2008 levels

With Jamaicans overseas topping up the 'Christmas money' sent home to relatives last December, remittance inflows to the island increased by 11.5 per cent for the month, pushing up the total for the 2010 year to over US$1.9 billion...

Sagicor hires Citi for fund-administration advice

Sagicor Life Jamaica (SLJ) has contracted global financial services company Citigroup to provide fund accounting and administrative services for its investment portfolio, last estimated at around J$130 billion....

Egypt and Jamaica: The intersections between Hosni and Manatt

Last week I took a sample of two and reported opinions held towards the Commission of Enquiry into the Dudus-Manatt-Golding mystery. One was from my taxi driver who thought it was farce, essentially wasting money we can't afford...

The Jamaica Hydroponics model offers food for thought

Just 15 minutes off the main road near Mandeville is the property where Richard Khouri turned a hobby into a business and, in the process, earned the Order of Distinction for "pioneering work in the field...

Exporters seek new markets under Target Europe II programme

The Jamaica Exporters' Association (JEA) says it will be shifting focus to what it sees as more lucrative markets in the Europe Union (EU) for authentic Jamaican products and services, through a new programme called Target Europe II.

Airlines backtrack on fare hike

Major United States airlines are rolling back a fare increase of up to US$120 per round trip on tickets favoured by business travellers. Delta Air Lines raised the fares Monday and other major airlines went along...

Payless to set up 10 stores, three already open

Low-cost American footwear chain Payless ShoeSource plans to roll out 10 stores across Jamaica, creating between 70 to 100 jobs. Steve Gish, executive vice-president of Payless ShoeSource, while declining to disclose the size of the investment...

Price cut endangers Blue Mountain brand - Grant

The efforts to diversify Jamaica's coffee market is slow on results, heightening concerns here that producers are without leverage to push back against top buyer Japan, which is demanding cheaper beans.Senator Norman Grant, the chief executive officer...

Regional business

Errol Cort sued by Stanford investors - Antigua's National Security Minister Errol Cort has been slapped with a US$1-million lawsuit by former investors in Stanford International Bank.Cort was Antigua and Barbuda's finance minister between 2004...

Persaud bashes EU for criticising GUYSUCO

Agriculture Minister Robert Persaud has called on the European Union to fulfill the commitment made to the Guyana government, rather than commenting on the country's sugar-production target.Persaud said that a more constructive input in assisting...

Grenada seeks agri, energy assistance from Brazil

Grenada is looking to Brazil for assistance in developing its agriculture and energy sectors.Prime Minister Tillman Thomas made the request during talks with Brazilian presidential envoy, Jose Marcus Venicus De Souza and Brazil's Ambassador-designate...

Why mutual building societies matter

Mutuals are member organisations. Membership is derived through customer relationships, such as the ownership of an account or mortgage. In Jamaica, mutuals within the financial-services landscape include some building societies...

Businessman tells enquiry how J$4mloan turned to $1b debt

A Mandeville businessman told the commission of enquiry into the 1990s financial sector collapse on Wednesday how a J$4-million loan from the Eagle Commercial Bank, in 1994, turned into J$1 billion of unmanageable debt in 2008.Michael Levy, who owned...

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