Jamaica Gleaner - Business - Wednesday

Consumer group against break-up of JPS monopoly

The Consumer Advisory Committee on Utilities (CACU) has come out in favour of the Jamaica Public Service Company's (JPS) retention of its monopoly on transmission and distribution of electricity, arguing that liberalisation of the grid will not lead...

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Internet income up 138% as ... Telecoms revenue hits $14b mark

Combined revenues from Jamaica's telecommunications companies hit $14 billion in the June 2011 quarter, up 13 per cent over year-earlier levels, according to just-released data by the Office of Utilities Regulation (OUR)....

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Financial institutions loans hit record $386b

Total loans are at record levels while bad debts are down, indicating increased health within the financial system, new Bank of Jamaica (BOJ) data indicate.Total gross loans held by financial institutions hit a record J$386 billion at June 2012, up 10.9...

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Couples Resorts eyes Breezes Grand Negril

WESTERN BUREAU: Lee Issa's Couples Resorts has offered to buy John Issa's SuperClubs' Breezes Grand Negril. The two hoteliers have confirmed in a release that they are both involved in firm negotiations concerning...

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Marley Coffee records US$1m loss

Gourmet coffee brand, Jammin Java which trades as Marley Coffee, reported a net loss of nearly US$1 million over the three months ending July 2012, doubling the loss made a year earlier.Staff and management compensation accounted for the bulk...

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US homebuilder confidence surges to 6-year high

Confidence among United States (US) homebuilders rose this month to its highest level in six years and many expect the housing recovery will strengthen in the next six months.The National Association of Home Builders (NAHB)/Wells Fargo builder sentiment...

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Ja to participate in microfinance project

Microfinance institutions from Jamaica and six other countries are to participate in the second phase of the regional microfinance capacity building project for the English-speaking Caribbean (Carib-Cap 11), the Washington-based Multilateral Investment...

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'Axe the value-added tax'

Two weeks before St Lucia implements the value-added tax (VAT), a prominent chartered accountant is calling on citizens to demand that the Kenny Anthony government hold a referendum on the issue.....

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Bahamas gov't wants power company to help reduce electricity rates

The Grand Bahamas Power Company has commissioned its US$80 million 52 megawatt power plant with government urging the owners of the company to support plans to significantly reduce the cost of electricity on Grand Bahama Island.Minister for Grand...

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US businesses making anti-regulation pitch to voters

The National Association of Manufacturers, US Chamber of Commerce and National Federation of Independent Business (NFIB) are working to make the anti-regulatory fervour their members share an issue in the last weeks of the US presidential campaign.The...

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Google goes low-tech to unleash Nigeria potential

Despite all its cutting-edge technology, Google Inc has turned to the humble text message to break into Nigeria's booming economy. The search engine has started a service in Nigeria, as well as in Ghana and Kenya, which enables mobile phone users...

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Indexes down after FedEx gives a glum outlook

Glum economic news pushed stocks down slightly on Tuesday after FedEx said it's seeing recession-like conditions.The declines were widespread, but mild.