Tourism hits new record

Visitor arrivals by air and sea hit a record 3.07 million in 2011, an 8.4 per cent hike year-on-year, which beat the previous record set six years ago. Arrivals last surpassed three million in 2006 when 3.01 million...

Neal & Massy gets credit bureau licence

The Ministry of Finance has approved a licence for a new company called CRIF NM Credit Assure Limited (CNM-CAL) to operate a credit bureau in Jamaica.The ministry said last night that CNM-CAL is a joint venture between ILLUMINAT Jamaica Limited...

BCW hires Chambers as head of investment banking

Charles Chambers has been appointed managing director of investment banking at BCW Capital, effective March 19, 2012, the company announced Tuesday.BCW Capital plans launch into business in mid-2012.The financial company, which was founded by Gerald...

TGI Friday's Kingston makes modest profit for Prestige

TGI Friday's in Kingston offered a slightly better performance than its counterparts in Trinidad and Barbados, according to franchise holder Prestige Holdings.The Jamaican operation, which consists of a single restaurant on Hope Road in operation since...

PetroCaribe oil bought at market prices, says Petrojam

The state-owned oil refinery Petrojam has dismissed claims that it obtains crude oil at discounted prices under the PetroCaribe agreement with Venezuela but does not pass on the lower costs to consumers."It is not at a discount to Petrojam,"...

JEA project schools farmers in teamwork, marketing hubs

The Jamaica Exporters Association (JEA) is rolling out a technical development programme of assistance for two producer groups, the farmers of Guys Hill and the Christiana Potato Growers Association, to link farmers more effectively to their markets....

Ocho Rios Beach Resort posts biggest loss in six years

Guardian Holdings Limited recorded a loss of TT$20.5 million (J$277m) from its 24 per cent share ownership in Ocho Rios Beach Resort Limited, one of its associated companies in Jamaica.Coupled with that loss, a write-off of TT$22 million...

EU development aid to Caribbean declines

The European Union remains the major contributor of aid to developing countries, including the Caribbean, according to latest figures released in Brussels.Figures published by the Organisation for Economic Cooperation and Development (OECD) show that...

MANAGER OF THE YEAR

General manager of Jamaica National Building Society, Earl Jarrett, poses with his award after his selection as the Jamaica Institute of Management's Manager of the Year 2011.

Alcoa surprises with first-quarter profit

Alcoa reported a surprise profit for the first quarter after it sold more aluminium to a wide range of customers, from automobile manufacturers to beverage can makers.The largest US aluminium maker also benefited from cost-cutting steps that made its...

Coal exports surge to highest level since 1991

Government data show US coal exports reached their highest level in two decades last year as strong overseas demand offered an outlet for a fuel that's falling from favour at home.US Department of Energy data analysed by The Associated Press reveal that...

Oil prices drop to US$101 per barrel

Oil closed at a two-month low on more troubling signs for the world economy.Benchmark United States crude dropped to US$101.02 per barrel in New York on Tuesday, while Brent crude fell to US$119.88 per barrel in London.Natural gas fell to a 10-year low...

Carriers agree to disable stolen phones for good

Cellphone companies and the government are trying to make it as difficult to use a stolen cellphone as it is to sell a stolen car.United States Senator Charles Schumer said in a statement late Monday that major cellphone carriers and the Federal...

Apple market value hits US$600 billion

Apple, already the world's most valuable company, hit the US$600 billion level for the first time Tuesday.Only one other company has been worth $600 billion - Apple's old sparring partner Microsoft Corp...

Michelin to build new tyre plant

Michelin announced plans Tuesday to break ground on a new plant in Anderson County that could create 500 jobs making giant tyres for use on heavy equipment in mines, quarries and construction sites.The company plans to spend US$750 million on the new...

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