Jamaica Gleaner
Published: Wednesday | November 21, 2012
Home : Business

Back in recession - Jamaican economy contracts for third quarter
Most industries are expected to continue declining in the October-December quarter, even as the Planning Institute of Jamaica (PIOJ) reported that the Jamaican economy contracted by 0.6 per cent during the third quarter....

Sandals-affiliated tour company to double Caribbean footprint
Island Routes Caribbean Adventure Tours, identified as a sister operation to Sandals Resort International (SRI), added Barbados and Cayman Islands to its itinerary earlier this year but the three-year-old company is still...

Financing delays Pan Jam hotel to 2013
Property conglomerate Pan-Jamaican Investment Trust has pushed back the timeline for construction of its Kingston based Marriott/Courtyard hotel to 2013, citing contractual and financing delays.Concurrently, the group...

Jamaica Citrus acquisition misses closing date
Jamaica Beverages Limited has missed the previously announced September 28 target date for closing its acquisition of the land and factory assets of Jamaica Citrus Growers Limited (JCGL), which is in receivership.But technical director of the Jamaica...

Wallenford deal for Cabinet review by year end
Donovan Stanberry, permanent secretary in the Ministry of Agriculture and Fisheries, says the offer on the table for state-owned Wallenford, the largest coffee concern locally, will be reviewed by Cabinet before yearend."It is almost ready for Cabinet,"...

BP makes major gas find in Trinidad
The Trinidad & Tobago government has welcomed an announcement by BP Trinidad & Tobago (BPTT) that it has made an estimated one trillion cubic feet natural gas discovery off the island's southeast coast.

Region offers interesting trade opportunities - IDB
As one of the fastest-growing regions in the world, Latin America and the Caribbean offers interesting trade and investment opportunities for European companies seeking to boost their international operations, private sector specialists...

Santos: Territorial ruling unacceptable
Colombia's President Juan Manuel Santos says his government emphatically rejects the International Court of Justice's decision to declare Colombian sovereignty over a Caribbean archipelago...

UBS rogue trader guilty of fraud
A rogue trader who lost US$2.2 billion in bad deals at Swiss bank UBS was sentenced to seven years in prison Tuesday after being convicted of two counts of fraud.Ghanaian-born Kweku Adoboli, 32, exceeded his trading limits and failed to cover his...

US new home starts jump fastest pace in four years
US builders started construction last month on the most homes and apartments since July 2008, more evidence that the housing recovery is gaining momentum.The US Commerce Department said Tuesday that builders broke ground on homes in October...

Acapulco in debt
Mexico's famous Pacific resort of Acapulco is being inundated, not by rising sea levels, but by a flood of debt. The city's mayor says the local government has been "collapsed" by a total of US$162 million in municipal debt built up by a former mayor.

HP says acquired company lied about finances
Hewlett-Packard Company said that a British company it bought for US$9.7 billion last year lied about its finances, resulting in a massive write-down of the value of the business.CEO Meg Whitman avoided calling it a fraud, but said Tuesday that there...


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