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JMMB paid $93m for AIC Securities

August 27, 2014 - 2:35pm
Jamaica Money Market Brokers Limited (JMMB) paid TT$5.36 million ($92.7m) for AIC Securities Limited, the company disclosed in its first quarter earnings report.JMMB acquired 100 per cent of AIC Securities of Trinidad in April.

Demand pushes loan rates higher

August 27, 2014 - 2:35pm
Local businesses are moving away from foreign currency borrowing, new central bank data show.With the exception of agricultural and fisheries, the Bank of Jamaica (BOJ) noted in its quarterly monetary report released on Monday that there were net...

Sovereign immunity and the Argentina debt saga

August 27, 2014 - 2:35pm
The notion of sovereignty is one of the tenets of human society that spans the spectrum of geography and time.As the Chief Justice of the US Supreme Court, John Marshall, wrote in 1812: "The jurisdiction of the nation within its own territories is...

Argentine default fails to halt emerging market bond rally

August 27, 2014 - 2:35pm
Back in late December 2001, when Argentina defaulted on nearly US$100bn in debt, it took emerging market bonds just about 48 hours to start staging a rebound, recalls Jerome Booth, a veteran emerging market analyst."All...

Rusal restructures US$10bn debt pile

August 27, 2014 - 2:35pm
Rusal has completed the restructuring of its US$10bn debt pile after negotiations with creditors that lasted a year, in a deal that will remove the financial uncertainty hanging over the world's largest aluminium producer.Rusal,...

Invasive insect threatens Florida citrus

August 27, 2014 - 2:35pm
The orange adorns the state licence plate. The University of Florida's famed football stadium was named after an orange magnate. There is even a county called Citrus.

Cement Jamaica-Rusal coal alliance - Deal on energy partnership expected by year end

August 27, 2014 - 2:35pm
Cement Jamaica Limited and mining company Rusal Jamaica are in talks on a possible energy partnership built around coal. The preliminary agreement around which negotiations are ongoing will see Rusal putting up 100 acres of land at Port Esquivel...

Brian Young, 2 others resign from Caribbean Cement board

August 27, 2014 - 2:35pm
Brian Young has resigned as director and chairman of Caribbean Cement Company Limited, alongside two other directors previously tied to parent company Trinidad Cement Limited.The resignations of Young, Bevon Francis and Judith Robinson are the latest...

Current account deficit narrowing to 6.8% of GDP

August 27, 2014 - 2:35pm
Jamaica's current account deficit is expected to be about 6.8 per cent of Gross Domestic Product (GDP) for fiscal year 2014-15, narrower than expected, at this stage of the four-year economic support programme...

Bus fare, electricity rate increase may test inflation target - BOJ

August 27, 2014 - 2:35pm
The increase in bus fares, which took effect on Sunday, and the tariff for electricity requested by the Jamaica Public Service Company, could push inflation towards the upper end of the seven to nine per cent band projected by the Bank of Jamaica (BOJ)...

Pan-Jam profit up 47% at half-year

August 27, 2014 - 2:35pm
Pan-Jamaican Investment Trust Limited's net profit grew by almost 50 per cent at half-year, reflecting improved property and investment income, and better returns from its investments in associated companies.The property company made a profit of $1.08...

Burger King in talks to buy Tim Hortons

August 26, 2014 - 2:08pm
Burger King is in talks to buy doughnut chain Tim Hortons and create a new holding company headquartered in Canada, a move that could shave its tax bill.Such an overseas shift, called a tax inversion, has become increasingly popular among US companies...

Talk of ECB action grows as European economy fades - Worries about the economy are rippling through Europe

August 26, 2014 - 2:08pm
Downbeat data have pushed the European Central Bank closer to more drastic action to keep the hesitant recovery from stalling completely.Meanwhile, open feuding in the French government about...

Online shopping grabs Jamaica! Clickmarket offers back-to-school discounts

August 26, 2014 - 2:08pm
SEVERAL JAMAICANS have expressed delight at the convenience of shopping using the new online experience of Clickmarket (www.clickmarketonline.com).Clickmarket, Jamaica's...

JMMB upgrading remittance platform

August 25, 2014 - 12:43pm
Jamaica Money Market Brokers Limited (JMMB) says that a temporary suspension of outbound money transfers through its Reggae Money platform is due to the ongoing integration of a new system for both inbound and outbound remittances.

Celebration chairman says casino project has multiple backers

August 25, 2014 - 12:43pm
Dennis Mills, chairman of Celebration Jamaica Development Limited, said last Wednesday that the company has put together a financing proposal that is backed by several corporate entities for its casino resort project.

No timeline for VoIP decision, says OUR

August 25, 2014 - 12:43pm
The Office of Utilities Regulation (OUR) has received the responses it required from telecom providers Digicel Jamaica and LIME Jamaica and is in the process of assessing the blockade of unapproved voice-over internet protocol (VoIP) services.

When to leave your job to start a business - 8-point guide

August 25, 2014 - 12:43pm
How to transition from employee to entrepreneur is a hot topic for many workers who are buckling under the financial stress of stagnant wages and rising prices.

Hidden insurance policy changes

August 25, 2014 - 12:43pm
My motor policy expired a few months ago. When the company rep contacted me I told him to renew it using the 2013-14 value. Because nothing was said I assumed that the terms and conditi

Back to school: Managing the cost of education

August 25, 2014 - 12:43pm
Education is a primary means of coming out of poverty, yet its cost can be a deterrent.