Alcoa gets 90 days for counter-offer
Alcoa Inc has three months in which to make a counter-offer for Jamaica's minority stake in the Jamalco Refinery, which Prime Minister Bruce Golding has now confirmed is being sold to Zhuhai Hong Fan Trading of China.
CARICOM clarifying food trade policy
CARICOM, at the request of its Council for Trade and Economic Development (COTED), is overseeing the compilation of agriculture production and demand inside the Caribbean bloc.Jamaica's Permanent Secretary in the Ministry of...
VMBS establishes tiny presence in Florida
Victoria Mutual Building Society (VMBS) has expanded its overseas office network to the United States, opening a small office last month in Miami Gardens, Florida.The building society has long had a presence in the United Kingdom, at Brixton, Tottenham,...
Volcano grounds perishables
At least three Jamaican exporters of perishables to the European market are now looking for local buyers of produce held hostage the ash-spewing volcano in Iceland.
Golding touts interest in remaining sugar factories
The Frome, Monymusk and Bernard Lodge sugar factories are still on the auction block, but Prime Minister Bruce Golding suggested Tuesday that a deal for their divestment was still possible.
CaPRI estimates 5% savings from JDX
Dr Damien King, economist and senior research fellow at think tank Caribbean Policy Research Institute (CaPRI), has concluded that the Jamaica bond exchange programme (the JDX) will...
IMF trims estimate of global bank losses
The world's banks could be spared billions in losses thanks to a global economy that is recovering from the financial meltdown more quickly than initially expected.
New discount card for small businesses
To keep the lid on operating expenses for micro, small and medium companies, the advisory and lobbying group MSME Alliance has introduced a new scheme that offers discounts on inputs while promoting trade among members within its network.There is a...
Probe of Stanford quashed for 12 years
The Securities and Exchange Commission (SEC) knew since 1997 that R. Allen Stanford likely was operating a Ponzi scheme but waited 12 years to bring fraud charges against the billionaire, the agency inspector general said last Friday.
Antigua staff back at work at paper owned by Stanford
The staff of a daily newspaper owned by jailed Texas financier Allen Stanford is still putting out the paper despite an announcement that it would close, an editor said Monday.Employees of the Antigua Sun returned without pay because they want to keep...
Turks and Caicos regulators shutter bank, freeze accounts
A bank founded six years ago in the Turks and Caicos Islands has been shuttered and its accounts frozen by regulators, a victim of non-performing loans and recent sizeable withdrawals, officials...
UK launches probe of Goldman Sachs
Britain's financial regulator launched a full-blown investigation into Goldman Sachs International on Tuesday, after United States authorities filed civil fraud charges against its parent bank.The announcement from the...
Some European flights resume
Many European flights took to the skies Tuesday for the first time in days but the travel chaos was far from over.London's airports - among the busiest in Europe and a major worldwide hub - are likely to stay closed until today, Wednesday, and...