Tia Maria sold
Tia Maria, the famous coffee-liqueur brand that was developed in Jamaica in the 1930s but whose control passed from the island decades ago, has been sold by the French wine producer, Pernod Ricard, raising questions about the future of its manufacture here....
Jamaica Broilers refinances expensive debt - To pay down bank loans with IIC funds
Poultry, meat, animal feed and ethanol producer, Jamaica Broilers Group, is to pay down some of its expensive debt to local banks with a US$7 million (J$630 million) loan now in hand from the Inter-American Investment Corporation (IIC)...
Gore to take on its largest project - Investing $10b to $12b in St Catherine homes
Gore Developments Limited has acquired a 475-acre property at Old Harbour in St Catherine from Matalon-owned West Indies Home Contractors (WIHCON) to develop more than 2,000 homes on lands known as Whim and Brampton Farms...
New initiatives drive up NCB profits - Hylton not sure which ones
National Commercial Bank (NCB) has reported improved profits of $7.3 billion for the nine-month period ending June 30, reflecting what bank executives say careful planning and management in a stifled economy. Profits grew seven per cent over the comparative...
Turkish company to open Guyana's first casino
A Turkish company will build Guyana's first casino by October. Princess Group Hotels and Casinos will invest US$2 million to build a casino and upgrade a local hotel to a five-star facility, company spokesman Oguz Tayanc said. The Princess Casino Guyana...
Former Dom Rep banker sentenced, fined US$82m
The president of a collapsed Dominican bank has been sentenced to two years in prison for fraud and ordered to pay more than US$82 million in compensation. A three-judge panel imposed the sentence Thursday after convicting Leonel Almonte of defrauding...
Dismiss CARICOM sceptics, says Mottley
Barbados' Leader of the Opposition, Mia Mottley, is urging the region to bond together and disregard sceptics who question the relevance of regional trading bloc, Caribbean Community (CARICOM)."Without it, our lives will become more difficult...
When work is better than a day at the beach
You may think you would be happiest sitting on a beach or at home doing nothing every day but, the truth is, we are happiest when we are doing something useful. Finding a job or career you love will enrich your life immensely...
Another UBS client pleads guilty to US tax charges
A businessman who, last year, was talked out of coming clean with the Internal Revenue Service (IRS) pleaded guilty Tuesday to US tax charges stemming from a wide-ranging investigation into secret accounts at Swiss bank UBS AG...
Deadly steelworker riot scuttles merger
A steelworker riot that killed a company executive in northeastern China has scuttled plans for a merger between a giant state-run plant and a private Beijing firm, two officials said Monday. An emergency notice announcing the end of the deal was made Friday...
US Steel reports 2Q loss on falling demand
United States (US) Steel Corp posted its second straight quarterly loss yesterday as the global slowdown stifled orders and prices for the metal, and it forecast that its third-quarter results would stay in the red. The largest US-based steelmaker...
Treasury pares gains after lacklustre auction
US Treasury prices were giving up some of their gains Tuesday after a lacklustre auction of US$42 billion of two-year notes. Overall demand was weaker than at a similar auction in June, and foreign investors appeared to buying fewer notes....
Sprint focuses on prepaid with Virgin Mobile deal
Sprint Nextel Corp is intensifying its focus on the fast-growing market for prepaid cellphone service with a US$483-million deal to buy Virgin Mobile USA Inc. The acquisition announced Tuesday calls for Sprint to pay US$5.50 in stock for each Virgin...
Caribbean business BRIEFS
Antigua is investigating the repayment of a Japanese loan that was used to build a US$33-million desalination and power plant.Prime Minister Baldwin Spencer says a commission will probe whether officials...
Caribbean Airlines in search of new CEO
The Trinidad-based Carib-bean Airlines (CL) says it is searching for a replacement for its Chief Executive Officer Philip Saunders.
CL said that Saunders had advised the airline's board of directors about his intention to ...