UDC dumps Machado plan

The Urban Development Corporation (UDC) has abandoned plans to move its operations to the Machado Complex which was purchased for $80 million in 2010 for that purpose.The property was offered for sale by the state...

Digicel 4G mobile network goes live

Digicel Jamaica has commissioned its new 4G mobile service and is marketing the service to subscribers as the 'Surf, Stream and Share' plan.

JMMB reports 93% take-up of CCFG offer

Jamaica Money Market Brokers (JMMB) fell short of its 100 per cent target on its takeover offer for the Capital and Credit Financial Group (CCFG), but got enough subscriptions to force the remaining shareholders to sell.JMMB said Tuesday that it got...

Matalon endorses Zacca

Christopher Zacca, as the sole candidate for president of the Private Sector Organisation of Jamaica (PSOJ), will likely land the position notwithstanding one technicality - he has not yet met all the qualifying...

Buyer, beware: Half of coconut water bottlers unregistered

The Bureau of Standards Jamaica (BSJ) has revealed that, in a market of 22 operators, only about half of the bottlers of coconut water are registered by the agency.The others reportedly ignore the requirement...

ATL preps J$630m auto-training centre and bodyshop

The ATL Group is days away from launching its expanded auto parts and technical training centre in Kingston.Adam Stewart, chief executive officer of the group, said Monday that the company is investing approximately J$630...

Skerrit defends new investment in LIAT

Dominica's Prime Minister Roosevelt Skerrit has defended the decision of his administration to invest EC$8 million (US$2.96 million) in the cash-strapped regional airline LIAT.Skerrit said the airline has been working with the government to facilitate...

Caribbean Weekly Stock Report: June 18-22, 2012

Caribbean stocks offered investors some slight relief from the losses for the year, as they staged a slight rally with the major indices closing the week higher...

Anadarko, Guyana sign oil agreement

The Guyanese government has signed an agreement with Anadarko Guyana Company to explore for oil inside the country's exclusive economic zone (ECZ)...

Former Stanford CIO pleads guilty to obstruction of justice

The United States Department of Justice has confirmed that Laura Pendergest-Holt, the former chief investment officer for jailed Texas financier Allen Stanford, has pleaded guilty to obstructing a US Securities and Exchange Commission (SEC)...

Oil remains at US$79

Crude oil prices wavered Tuesday but finished marginally higher in a late trading reversal as European leaders prepared to discuss a slate of proposals to stabilise the region's economy.Benchmark US crude added 15 cents to end the day at US$79.36 per...

News Corp to split into two

Under pressure to limit contagion from the British phone-hacking scandal, Rupert Murdoch's News Corp said Tuesday that it is considering splitting into two publicly traded companies. The media conglomerate did not specify Tuesday which businesses each...

FTC sues Wyndham over credit card breaches

The United States government has sued Wyndham Worldwide Corp over allegations that it failed to protect consumers' credit card data.The Federal Trade Commission said the hotel company suffered three data breaches from 2008 through 2010 that compromised...

European plan tries to convince Germany to do more

Top European officials have called on countries that use the euro to surrender more control over their national budgets, a move apparently aimed at easing Germany's fears of sharing debt burdens with struggling governments like Spain or Italy....

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