Sugar workers get $553 million - Money is not for operations, says Tufton
THE GOVERNMENT has allocated an additional half a billion dollars to the loss-making Sugar Company Jamaica (SCJ) for the current fiscal year. But Christopher Tufton, agriculture minister, says the money, which brings this year's grant to the SCJ to $1.3 billion...
Billy Craig targets larger share of corporate insurance market
Insurance companies are pulling out all the stops to rake in new business as the sector continues to feel the pinch from the prevailing tight economic situation facing their potential clients. In all of this, Montego Bay-based Billy Craig Insurance Brokers ...
JLA gets green light to raise $534m from asset sale
Shareholders yesterday gave the Jamaica Livestock Association Limited (JLA), provider of agricultural support and services to farmers, the green light to off-load its feed mill, wharf and grain-off loading facilities to Agro Industries Holdings for a sum of US$6 million...
DBJ gets no takers for Davon - Uniform company in liquidation
Having failed in its recent bid to get an attractive offer for the divestment of Davon Uniforms International Limited, manu-facturers of uniforms and other apparel for the local and export markets, majority shareholder, the state-owned the Development Bank of Jamaica...
JN makes profit, still providing quality
In the absence of a matching one-off gain like the $3.9-billion sale of Lascelles deMercado shares, Jamaica National's profit slid 76 per cent in 2009 - but that represented a still enviable pre-tax return of $1.8 billion, even after the write-down ...
Dealers, Customs at odds over car tax
A leading used-car dealer has called for the lowering of import tariffs on vehicles, proposing instead that the Government recoup lost revenue in higher licences fees over the life of the car. But Andrew Jackson, the principal of Jetcon Corporation...
Commentary - Implications of the $42-million Gillette pension surplus ruling
Recently, the United Kingdom Privy Council made a landmark ruling with respect to the allocation of surplus in the Pension Plan for the Employees of Gillette and Radio Razor Blade Company Limited (the plan). The appeal before the Privy Council concerned...
Hoteliers welcome new Dominica jet service
ROSEAU, Dominica (CMC):The Dominica Hotel and Tourism Association (DHTA) on Wednesday welcomed the an-nouncement of a new jet service, providing much-needed airlift into the country."We are really glad to hear that because air access is certainly...
Taiwan trade team visits Caribbean
KINGSTOWN, St Vincent (CMC): Taiwan is seeking to extend its trading rela-tionship with the Caribbean and, as a result, a delegation from the Taiwan External Trade Development Council is due in St Vincent next week on a two-day promotional visit...
Canada-CARICOM trade talks on again - Firm Nov 9 date set for formal negotiations
The on-again, off-again negotiations towards a World Trade Organisation (WTO)-compliant free-trade agreement between the Caribbean Community (CARICOM) and Canada is on again. After being suspended last year, the sides have now agreed on a November 9 date...
Scotia DBG, rocked by resignations, revamps team
Scotia DBG Investments has revamped its management team, creating a new unit in a restructuring exercise slated to be completed by the end of this year, the investment house has reported."By year end we will have our entire executive team in place...
T&T private sector urged to do business with Cuba
PORT-OF-SPAIN, Trinidad (CMC):The Trinidad and Tobago government on Wednesday said it was important for the country to look beyond traditional markets in order to successfully overcome the slowdown in economic growth as a result of the global financial...
Montserrat governor says chief minister has mandate for progress
BRADES, Montserrat (CMC): Governor Peter Water-worth says the overwhelming mandate given to the ruling Movement for Change and Prosperity (MACP) provides newly elected Chief Minister Reuben Meade with an opportunity to make a significant change ...
US mulls filing fee hike to plug budget hole - Recession slows immigration applications
LOS ANGELES (AP): The United States fede-ral government is consi-dering raising fees on applications for immigration-related services to help offset a shortage in revenue. Alejandro Mayorkas, director of US Citizenship and Immigration Services...
Alice in Wonderland and the first supplementary estimates
It is difficult not to feel like one has been thrust into an alternative universe following the tabling of the first supplementary estimates in the House of Representatives on Tuesday by the finance minister, Audley Shaw...
Movements
LIME makes another First Carib pick - Gerard Borely, former managing director of corporate banking and chief regional financial officer at FirstCaribbean International Bank, has joined the regional management team...
Obama plans could lead to more bailouts - adviser
WASHINGTON (AP):A TOP White House economic adviser says the Obama administration's proposed overhaul of financial rules preserves the policy of 'too big to fail', and could lead to future bailouts.Former Federal Reserve Chairman Paul Volcker said...