Business

Antigua's National Security Minister Dr Errol Cort says he will "vigorously defend" the million-dollar lawsuit filed against him by former investors in the Antigua-based Stanford International Bank (SIB).

Two oil companies, including the biggest energy producer in Libya, on Tuesday suspended production in the country due to the deadly protests against the regime of Moammar Gadhafi.Italy's Eni - which puts out 244,000 barrels of gas and oil equivalent ...

Construction work has started on the Baha Mar, the largest single-phase resort development in the Caribbean, backed by Chinese cash. The 1,000-acre, US$3.4 billion resort, gaming and entertainment complex...

The United Nations Conference on Trade and Development (UNCTAD) has called for cheaper ways for Caribbean and other migrant workers to send money back home so as to maximise the economic impact.Noting that money sent home by economic migrants working...

Chief Executive Officer of GM Challenger Nigel Pagon says his company will launch its new Volvo and Fiat dealerships in April 2011 after the expected arrival of the first set of pre-ordered vehicles for its Kingston...

Beer maker Red Stripe Jamaica doubled its marketing spend in the December quarter, but the near half a billion dollar investment failed to lift sales. The company spent J$465 million on marketing and promotions...

Jamaica Public Service Company (JPS) has reported net profit of US$40 million (J$3.43b) for 2010, a decline of five per cent despite a 19 per cent gain in electricity revenue.Sales amounted to US$942.6 million (J$80.9b), well above the previous year's...

BP PLC is paying India's Reliance Industries US$7.2 billion to take a stake in key oil and gas blocks, gaining a significant foothold in the Asian country as it continues to reposition global operations following the disastrous Gulf of Mexico spill.

Prices rise above US$90/barrelOil-consuming nations have emergency reserves they can use to stabilise markets in case the violence in Libya and the wider Middle East escalates and crimps production, officials said Monday.But international executives ...

WESTERN BUREAU: UNITED STATES ambassador to Jamaica, Pamela Bridgewater, has charged that, the sooner steps are taken to seriously rein in crime in Jamaica and eliminate unnecessary obstacles to direct foreign investments...

Morin Seymour continues to hold visions of the Kingston waterfront as a place where cruise lines dock, and a town that operates on a 24-hour roster.

As the Jamaican Government tries to steer the country on a path to economic growth, Internatonal Monetary Fund (IMF) resident representative Dr Gene Leon warns that there are no dry runs, and that it is incumbent on the administration to get its policy...