GSB Co-operative and Churches Co-operative have agreed to combined operations to form the second-largest credit union in Jamaica with assets of J$6.8 billion and a membership base of 143,000.
The euro hit a 15-month high against the US dollar Wednesday, a day before the European Central Bank (ECB) was widely expected to increase interest rates in the euro bloc.Central banks raise interest rates to curb inflation, and ECB officials have...
Microsoft Corp and Toyota Motor Corp said Wednesday that they are partnering to integrate Web services with Toyota's vehicles. The companies are investing US$12 million in Toyota Media Service Company, which is a digital information services subsidiary of Toyota.
The United Nations' Special Committee on Decolonization says it has decided to hold its Caribbean regional seminar on implementation of the Third International Decade for the Eradication of Colonialism (2011-2020) in the Cayman Islands in May.
Dr Carl Ross, economist and managing director for investments at American firm Oppenheimer, is suggesting use of what he describes as a "nuclear option" for Jamaica, involving a haircut for bondholders and other holders of debt akin to the shake-up executed by auto giant General Motors which saw that company return to profitability in 2010 after years of poor performance.
A leading apparel manufacturer in South Korea says it is pushing ahead with plans to open a large garment assembly plant next March near the coastal village of Caracol in the northeast of the country.
The United Kingdom government has decided to write off £2.4 million (J$327 million) of Jamaica's debt for the 2010-11 fiscal year to assist it to promote economic growth and increase the efficiency of the public sector.
Oil fell Tuesday after China said it will raise interest rates again to help control inflation.Declining gasolene demand and a rare oil shipment from Libya also pulled crude lower later in the day.
The Bahamas government says it has no plans to prosecute persons who have failed to meet the March 31 deadline to register for business licences under the new Business Licence Act.The Ministry of Finance also said that contrary to reports...
The presidential campaign of musician Michel 'Sweet Micky' Martelly at first seemed like an afterthought, overshadowed by the short-lived run of the better-known star Wyclef Jean and dismissed as little more than a sideshow to an election that featured...
Small-farmer organisations from across the Caribbean have criticised regional governments and bureaucrats for leaving them to 'fend for themselves' during a period of rising food prices and declining agricultural products.The criticism came during...
Southwest Airlines Company said Tuesday it finished inspecting 79 older planes and found that five of them have cracks in the aluminium skin.That's two more than the airline found by Monday afternoon.Boeing said Tuesday it is directing Southwest...
The International Monetary Fund (IMF) expects to complete the fourth and fifth reviews of the standby agreement with Jamaica by mid-year, according to a statement issued by mission chief Trevor Alleyne. An IMF technical team wrapped up a 12-day visit...
Sagicor Financial Corporation (SFC) saw its net profit cut in half at the end of its financial year ended December 2010, as the company's administrative expenses and benefits paid out to policyholders increased, despite improvements in revenues....
While there is no provision in Jamaica's competition law to deal with mergers and acquisitions, the Fair Trading Commission (FTC) can still take action on companies found to Phillip Paulwell, the Opposition spokesman on energy and the communications sector....
Whitter Village has takers for the majority of shops on offer at Ironshore, some 20 of which are said to be new business entrants to the city of Montego Bay.Of the 92 shops, 80 are occupied, according to Edwin Wint, whose...
High Court judge Errol Thomas of St Kitts and Nevis on Monday granted an injunction against a United States-based internet cable company after it dismissed 131 workers last week without prior notice.Clear Harbor Nevis Limited as well as several persons...
The Coffee Industry Board on Tuesday shipped the first batch of 16,500 kilograms of green coffee bean to Zhejiang Dunns River Import and Export Company Limited in China, under a supply deal to sell 70,000 kg to the Asian powerhouse....
The Financial Services Commission (FSC) has placed a freeze on the incremental increases in credit risk weighting of Jamaican government-issued foreign currency bonds held by securities dealers, saying their capital structures were too weak to handle it....
Diamond Foods Inc took its biggest bite yet of the snack business with a US$1.5 billion deal to buy the Pringles brand from Procter & Gamble Company (P&G).
McDonald's Corp will hold its first national hiring day April 19 to fill 50,000 openings at its restaurants in the United States.The company, based in Oak Brook, Illinois, says it is making a concerted effort to add staff as its business improves...
The Dominican Republic has raised concerns about the current structure of CARIFORUM and has proposed that the grouping appoints its own secretary general.The Spanish-speaking Caribbean country tabled the matter, as five foreign ministers and senior...
Southwest Airlines was due to cancel up to 70 more flights, or 2 per cent of its Monday schedule, as it inspected older planes for cracks in the fuselage.The airline cancelled about 600 flights and grounded 79 planes over the weekend, after a Boeing...
