Jamaica Gleaner
Published: Friday | November 16, 2012
Home : Business

Unit trust market thrives in uncertainty, mutual funds slide
Jamaicans pumped more money into local unit trust investments while reducing the amounts held in overseas mutual funds at mid-year, according to information out of the Financial Services Commission (FSC)...

BOJ predicts 4Q contraction of J'can economy - Sandy effect still being tabulated
The Bank of Jamaica is projecting inflation in the December quarter will be in the range of three to four per cent on expectations of higher commodity prices, and says the Jamaican economy may contract by as much as 1.7...

IMF rep says JDX still having positive effects - Avoids current negotiations
Jamaica continues to benefit from the gains of cutting its interest payments arising from the Jamaica Debt Exchange (JDX), said Dr Gene Leon, senior resident representative of the International Monetary Fund (IMF)....

Lorna Myers inducted to PSOJ Hall of Fame
Wednesday night belonged to Lorna Myers, the head of one of Jamaica's most famous, and most patronised, business operations - the KFC chain....

When boards of directors underperform
The economic difficulties we face, the delay in the IMF agreement, and the pervasive and almost palpable uncertainty which Jamaicans face on a daily basis have put a lot of focus on the performance of the Government....

Public pensions to be managed as segregated fund
The Parliamentary Joint Select Committee on pension reform has recommended a defined benefit (DB) pension plan for public-sector employees, whose contribution would be set at five per cent of salary.Thirteen groups weighed...

JMA targets 10 firms for packaging project
The Jamaica Manufacturers' association (JMA) indicated on Wednesday that it has taken a first step towards improving labelling and product packaging of local firms, with the backing of the European Union. The project, which aims to improve export...

Cement stock slumps as CCCL balance sheet crumples
Caribbean Cement Company Limited (CCCL) closed the third quarter cash positive and has turned around a J$707-million operating loss into J$15 million of operating profit.Domestic sales of cement remains weak, falling eight per cent year-on-year...

Purity IPO gets over 470 applicants
The initial public offering of Consolidated Bakeries Jamaica Limited, which operates under the brand name Purity, was oversubscribed by Wednesday.Applications were four per cent above the J$97 million the company aimed to raise.The company offered...

Argentina: Can you hear me?
The art of expression is not a problem for Argentines. With a fluidity of gestures, hand motions and a kaleidoscope of colloquialism, Argentines are adept at expressing any situation in a very efficient manner. Yet, the art of communication is a serious...

Cuba oil dreams on hold
The only rig in existence that can drill in deep waters off Cuba is preparing to sail away from the island, officials said Tuesday, after the third exploratory well sunk this year proved nonviable in a blow to government hopes of an oil bonanza....

T&T claims victory in battle with BAE
The Trinidad and Tobago government said Wednesday said that the British defence firm, BAE Systems, had agreed to pay TT$1.382 billion to settle a two-year dispute over the cancellation of a contract for three offshore patrol vessels (OPVs)...

Creditinfo lands credit bureau licence in Guyana
Creditinfo Group has expanded to Guyana where it landed the sole licence on offer to set up a credit bureau.Guyana is geographically located in South America but is politically aligned to the Caribbean.Creditinfo currently operates in a dozen countries...

Eurozone back in recession in Q3
The 17-country Euro-zone has bowed to the inevitable and fallen back into recession for the first time in three years as a sprawling debt crisis took its toll on the region's stronger economies.And with surveys pointing to increasingly depressed...

Xi Jinping takes helm in China amid reform calls
Xi Jinping succeeded Hu Jintao as China's leader on Thursday, assuming the top posts in the Communist Party and the powerful military in a once-a-decade political transition unbowed by scandals, a slower economy and public demands for reforms....


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