Spotlight falls on fraud case against Richard Downer at finsac commission of enquiry

A six-year-old witness statement by Douglas Chambers, the deceased former receiver of Thermo Plastics Jamaica Limited and its subsidiary Plas Pak, which alleges that Richard Downer committed fraud amounting to J$29.455 million while he was a receiver of Thermo Plastics...

Payless re-energises shoe shoppers

The appetite of Jamaicans for shoes came to international notice after Vybz Kartel recorded his anthem, Clarks, which is reported to have created a volcanic demand, with the cost of a pair from the British shoemaker rising from 46 to 78 locally....

Wisynco to test co-location model as Wendy's, Domino's expand

Wisynco is adding a new Wendy's hamburger store and Domino's Pizza outlet in Kingston, and is renovating a building at Half-Way Tree to house the two fast-food eateries.Steve Lim, managing director of Wisynco Foods Limited, a subsidiary of Wisynco Group...

TEF offering 5% loans to tourism suppliers

The Tourism Enhancement Fund on Monday introduced a new J$100 million revolving loan fund and signed Jamaica National Small Business Loans Limited (JNSBL) to administer the programme.The Five by Five Development Loan Fund is targeted at small suppliers...

J.Crew shareholders approve US$3b buyout deal

Shareholders of preppy clothing seller J.Crew Group Inc have approved a US$3-billion deal to be taken private by two investment firms.

GSB launches 11.95% mortgage loan, wealth unit

GSB Credit Union has launched a new loan priced at 11.95 per cent interest on a residential mortgage of 35 years, and is trumpeting the facility as the lowest rate on the market offered by a private financing agency.Other mortgages are offered at 12-13...

Prolonged oil-price rise poses downside risk

United States Federal Reserve Chairman Ben Bernanke told Congress on Tuesday that a prolonged rise in oil prices would pose a danger to the economy.

Digicel reports customer growth, strong operating results

EBITDA, a key metric by which Digicel Group and bondholders track its operational performance, increased 32 per cent in the third quarter to a record high, the mobile company said.Earnings before interest, taxes, depreciation and amortisation...

International business: Ex-Goldman Sachs director charged with insider trading

Federal regulators in the United States have charged a former Goldman Sachs board member with insider trading, saying he provided confidential information to the central figure in a major hedge-fund probe.

Caribbean stock market report

For the week February 21-25, more than 12.5 million shares traded on the six stock exchanges across CARICOM, with 21 stocks advancing, 18 declining and 82 unchanged.Gleaner was the volume leader with 2.49 million shares traded...

Lascelles adds Q1 profit at 14 times revenue growth

Lascelles Demercado & Company produced robust results for its first quarter ended December 2010, when net profit surged despite anaemic revenue...

Career lessons from Buju's conviction

The conviction on Tuesday, February 22, of Jamaica's reggae superstar Mark 'Buju Banton' Myrie in a Florida court on cocaine-related charges has left his fans stunned, dismayed, and worried about his fate....

New Scotiabank chairman

President and Chief Executive Officer of Scotia ....

KFC makeover continues

Restaurants of Jamaica, the franchise holders for KFC, is planning to spend J$200 million this year to remodel five of its stores as part of a re-imaging programme organised by the parent company to create a better atmosphere for dining...

Puerto Rico denied corned beef cravings as supplies dwindle

Sure, Puerto Ricans can get fresh beef at the supermarket. But what many crave - and can't get - comes out of a can. A national shortage of canned corned beef caused by a recall has hit especially hard in the United States Caribbean territory...

CARICOM backs Brazilian for top FAO post

CARICOM leaders have endorsed the candidature of Dr Jose Graziano Silva of Brazil for the post of director general of the United Nations Food and Agriculture Organisation (FAO).Six candidates have been put forward by member nations of the FAO to succeed...

New security measures for mail, air cargo to the US

The Barbados government says it has been advised by the US Department of Homeland Security and other United States agencies that they have implemented a number of measures "to enhance existing security procedures for screening inbound airmail and cargo...

Gaddafi regime invested millions with Stanford

The Muammer Gaddafi regime in Libya is said to have invested at least US$500 millions with accused disgraced financier Allen Stanford.The American television network CNBC in a report cited court documents which show that on January 25, 2009 Stanford...

Gonsalves hoping for collective CARICOM position on UN vote

Dr Ralph Gonsalves says he believes CARICOM countries will adopt a united position when they vote at the United Nations later this week on two resolutions relating to the unrest in Libya."We anticipate that two resolutions will come on Libya ...

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