Jamaica Gleaner
Published: Friday | November 30, 2012
Home : Business

Scotia reclaims top spot but court case weighs on bottom line
Core banking activity at the Scotia Group Jamaica increased but its annual profits was close to flat year-on-year at J$10.57 billion due in part to provisioning for a court case linked to the financial sector meltdown of the 1990s and the asset tax by...

Josephine McGann tests new sales strategy for egg farm
The family-run Clinton McGann Farms Limited (CMFL), which at one time was a major player in the egg market, has downsized operations and is going through a management transition.Daughter Josephine McGann has been...

ATL enters solar water heater market
Appliance Traders Limited (ATL) announced Thursday that it will exclusively distribute solar water heaters from Israeli supplier, Nimrod Industries Limited....

Used-car dealers escape tax pinch
Not all car dealers are feeling squeezed by the hike in car import duties, which largely impacted sport utility and other large vehicles.President of the Jamaica Used Car Dealers Association (JUDCA), Lynvalle...

RJR looks overseas as rivalry heats up at home
Radio audiences are down while television audiences have grown, according to the latest All Media survey.Radio is also contending with shifting brand loyalty among high- and medium-income listeners along the way....

Mobile remittance growth stunted by 'regulatory void'
THE WORLD Bank, in an update on remittances released last week, said flows to developing countries are projected to hit US$406 billion this year and rise to US$534 billion in 2015.Within Latin America and Caribbean (LAC), however, projections...

Chicken farmer bests Alcoa in court fight
The Supreme Court has ordered Alcoa Minerals of Jamaica to compensate poultry farmer Orinthia Hanson for business losses caused by a faulty drainage system developed by the mining company.The J$30-million...

That elusive IMF deal
LAST WEEK, our Finance Minister Dr Peter Phillips told the nation what many economic observers knew for weeks - there will be no International Monetary Fund (IMF) deal before the end of this year. When the December 2012 target was voiced some months ago...

Mexico: Changing of the guard
There is a buzz of excitement in Mexico City, as the country prepares to inaugurate President-elect Enrique Pena Nieto.After 12 years in the desert, the Institutional Revolutionary Party (PRI) is ready to return to the helm...

Sandy packed US$62b punch in US, Caribbean
Superstorm Sandy wreaked havoc on parts of the United States East Coast a month ago Thursday after tearing through the Caribbean at hurricane strength.In the weeks since, the storm's scope has come into sharper focus...

Argentina gets debt reprieve
Argentina got some breathing room Wednesday in its billion-dollar debt show-down as an appeals court indefinitely suspended a federal judge's ruling that threatened to push the country into default. The two-paragraph appellate court order sets a February...

Chávez back in Cuba for treatment
Venezuelan President Hugo Chávez arrived in Havana for medical treat-ment on Tuesday.The Communist Party daily Granma reports that Chávez arrived during the night.Chávez has spent much of the past 18 months fighting cancer....

Suriname, Iamgold reach agreement on mine expansion
The Suriname government says it has reached an agreement with Canadian company, Iamgold, to further expand the profitable Rosebel gold mine.Iamgold owns a 90 per cent stake in the mine that produced 385,000 ounces of gold in 2011.The new deal amends...

Oil rises on higher economic growth expectation
The price of oil rose Thursday on an improved reading on US economic growth while lawmakers continued their tussle over the 'fiscal cliff'.The US Commerce Department on Thursday raised its estimate for US economic growth to an annual rate of 2.7 per...

US economy grows at faster pace
The United States economy grew at a 2.7 per cent annual rate from July through September, much faster than first thought...


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