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Business

Published:Sunday | January 17, 2010 | 12:00 AM

The Government of Jamaica has extended an offer to the major holders of its local debt to participate in a "voluntarily exchange" of these securities for new notes with lower coupons and longer maturities.The new instruments will have lower initial...

Published:Sunday | January 17, 2010 | 12:00 AM

Writing in The New York Times of January 10, 2010, columnist Frank Rich quoted Paul Volcker, whom he described as "the regrettably powerless chairman of Obama's Economic Recovery Advisory Board", as saying recently: "There was not 'one shred of neutral...

Published:Sunday | January 17, 2010 | 12:00 AM

Question: I have a restricted-driver's Road Angel Policy. My premium is low. I earn the maximum no-claims discount; I have driven accident-free for many years. Recently, I tried to change the policy to allow a friend to drive.

Published:Sunday | January 17, 2010 | 12:00 AM

The Caribbean Hotel and Tourism Association is urging the region to consider imposing a US$10 tax on plane tickets to help in the recovery from the economic crisis.CHTA president, Enrique de Marchena, proposes that half the revenues go to help...

Published:Sunday | January 17, 2010 | 12:00 AM

Barita Investments Limited made its debut on the Jamaica Stock Ex-change (JSE) Thursday, three decades after its founding by Rita Humphries-Lewin.The securities firm's 445,001,824 ordinary shares, which were listed at $2.50 per unit, will trade under...

Published:Sunday | January 17, 2010 | 12:00 AM

Latin America and the Caribbean lost 2.2 million jobs in 2009 amid the global financial crisis, reversing five straight years of falling unemployment, the International Labor Organization (ILO) said Monday.The United Nations agency said in its annual...

Published:Friday | January 15, 2010 | 12:00 AM

The Jamaica Debt Exchange programme, made public on Thursday, will replace 350 Government of Jamaica bonds held by financial institutions and retail investors with 24 new notes in four classes, and cut as much as 16 percentage points off the prevailing interest...

Published:Friday | January 15, 2010 | 12:00 AM

Digicel Group has committed US$5 million of assistance to Haiti, to help with relief efforts in that country. The mobile firm on Wednesday also flew in a team of its staff to the devastated country where media reports are already putting the death toll...

Published:Friday | January 15, 2010 | 12:00 AM

Government has appointed a new five-member board of directors, comprising two private sector members and three with public sector jobs, slimming its membership from nine.The new chairman is Denis Lalor, chairman of Insurance Company of the West Indies...

Published:Friday | January 15, 2010 | 12:00 AM

Capital and Credit Financial Group said this week that its nascent and wholly-owned Florida subsidiary Capital and Credit International Incorporated (CCII) will be collapsed into the operations of a small, American investment banking...

Published:Friday | January 15, 2010 | 12:00 AM

Jamaica will ship the first batch of raw sugar to Eridania Suisse SA on February 28, representing close to a third of the supplies committed under a forward contract with the Italian-owned operation."We expect to ship about 22,000 to 24,000 tonnes in...

Published:Friday | January 15, 2010 | 12:00 AM

Digicel fills Wayne's slot - New Digicel Jamaica has appointed Donovan White as head of marketing, with responsibility for public relations, sponsorships, advertising and marketing communications, replacing Wayne Miller who departed the company at the end...

Published:Friday | January 15, 2010 | 12:00 AM

Jamaica Money Market Brokers (JMMB), a big domestic holder of government bonds, became the first financial institution to formally announce that it will take up the full debt-restructuring offer under which the Golding administration plans to call ...

Published:Friday | January 15, 2010 | 12:00 AM

By now, it should be very clear to everyone that the presentation of the Jamaican Government's letter of intent to the executive board of the International Monetary Fund (IMF) on January 27 is just a formality, as the GOJ has passed ...

Published:Thursday | January 14, 2010 | 12:00 AM

The government can count on the support of two of the island's leading private-sector groups for the debt-management initiative formally announced yesterday by Prime Minister Bruce Golding. The Private Sector Organisation of Jamaica (PSOJ) and the Jamaica Manufacturers'...

Published:Thursday | January 14, 2010 | 12:00 AM

Crude oil futures plunged to their lowest levels of the year Wednesday after the US government reported that supplies grew more than expected.The Energy Information Administration said that the United States' oil stockpiles swelled by 3.7 million...

Published:Thursday | January 14, 2010 | 12:00 AM

Wall Street executives said Wednesday they underestimated the severity of the 2008 financial crisis and apologised for risky behaviour and poor decisions. They also defended their bonus and compensation practices to a sceptical commission investigating...

Published:Thursday | January 14, 2010 | 12:00 AM

THE CARIBBEAN Hotel and Tourist Association (CHTA) is urging the Caribbean Tourism Organisation to revisit the recommendation of a tax on airline passenger tickets to the region. The call was made at the closing session of the Caribbean Marketplace ...

Published:Wednesday | January 13, 2010 | 12:00 AM

Alcoa Inc on Monday reported a smaller net loss for the fourth quarter, though revenue shrank as higher metal prices were offset by ongoing weakness in aerospace, construction and gas turbines businesses...

Published:Wednesday | January 13, 2010 | 12:00 AM

Soldiers accompanied government inspectors as they temporarily shut down dozens of retail stores in Venezuela on Monday, aiming to prevent hefty price hikes after the country devalued its currency. Inspectors from the consumer protection agency closed...

Published:Wednesday | January 13, 2010 | 12:00 AM

Alcoa Inc on Monday reported a smaller net loss for the fourth quarter, though revenue shrank as higher metal prices were offset by ongoing weakness in aerospace, construction and gas turbines businesses...

Published:Wednesday | January 13, 2010 | 12:00 AM

The Jamaica Stock Exchange (JSE) has amended its rules to no longer require news-paper publication of a prospectus as precursor to listing shares, that could cut a million dollars or more off the bill to launch an initial public offering (IPO)....

Published:Wednesday | January 13, 2010 | 12:00 AM

In a test of the market on Tuesday, the Government of Jamaica floated a two-month treasury bond that is not only significant for its tenure but was priced at a fixed 12 per cent per annum, in line with goals of the new debt management initiative...

Published:Wednesday | January 13, 2010 | 12:00 AM

Peter McConnell, managing director of Worthy Park Estates, has acquired additional cane lands from Government to increase production, but says his plan for the property is limited by the terms of the lease agreement...

Published:Wednesday | January 13, 2010 | 12:00 AM

Business confidence among Jamaican firms improved in the last quarter of 2009, but consumer confidence continued to decline, researcher Professor Richard Curtain said Tuesday."When you combine the two indices, you can see that confidence is rather flat...

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