Jamaica Gleaner
Published: Wednesday | February 20, 2013
Home : Business

Paulwell slows process in order to fast-track energy proposals
Energy minister Philip Paulwell yesterday announced a counterintuitive measure that will delay the vetting of new power plant proposals in order to fast-track their approval.The electricity regulator Office of Utilities Regulation (OUR) will now advise...

Revenue, profit plunge at JPS
Monopoly power distributor, the Jamaica Public Service Company (JPS), has reported a two-thirds drop in its annual net profit to US$12.7 million (J$1.18b) following flat sales last year.Kelly Tomblin, JPS president and CEO, all but blamed the losses on...

Facing J$120b payout, FinMin 'hopes' for 100% NDX take-up - Large bondholders on board
With bondholders having the option of voluntary participation in the National Debt Exchange (NDX) programme that was launched last week by the Government of Jamaica, the Ministry of Finance...

FSC to go easy on capital requirements post-NDX - Pension, insurance sector urged to support bond swap
Insurance and pension fund managers were implored by government officials at a special meeting last Friday to give full participation in the National Debt Exchange...

GraceKennedy to accept NDX offer
GK and its subsidiaries will participate in the Jamaican Government's second debt swap in three years.The board of directors of GraceKennedy Limited has approved the full participation of the group and its subsidiaries in the National Debt Exchange...

Puma hails Bolt as revenue spikes but profits fall
Global sports giant Puma hailed sponored sprinter Usain Bolt in the first line of its 2012 annual report otherwise marked by poor financial results, released last Thursday...

No more subsidy for cane hoist fees
Marcella Scarlett, Business ReporterCane farmers are asking for continued financial support to offset some of the cost of transporting their cane to the factory, but the Ministry of Agriculture says the government cannot foot this bill.It's a turnaround...

Strata fee conflict sparks amnesty, call for closing loopholes
A local strata corporation is offering an amnesty to apartment owners in the hope that they will come forward with outstanding maintenance payments.Meantime, others involved in strata management say loopholes...

Government aims to slash light bill by J$2b
The Government aims to slash its J$13 billion annual light bill by some 15 per cent across the public sector in part as a pre-condition of an International Monetary Fund (IMF) loan agreement...

Judge says US-based reporter defamed Haiti's PM
A federal judge in Miami says a Haitian-American journalist has defamed Haiti's prime minister. Prime Minister Laurent Lamothe and a South Florida businessman sued Leo Joseph in September over his reporting for the New York-based Haiti-Observateur...

High-stakes fight over soybeans in high court
Vernon Hugh Bowman seems comfortable with the old way of doing things, right down to the rotary-dial telephone he said he was using in a conference call with reporters.But the 75-year-old Indiana farmer figured out a way to benefit...

Q&A on currency fight: Forex conflict latest threat to global economy
The world economy faces a new threat. Instead of a banking collapse or too much debt, fears are growing that countries are using their currencies as an economic weapon....


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