Business

Another commercial bank will be slashing its base lending rate as of December 1. PanCaribbeanBank Limited, the smallest of seven banks by assets, has announced that it will be cutting its Jamaican dollar prime lending rate by 55 basis points to 16.90 per cent.

The head of Brazil's central bank, Henrique Meirelles, said Wednesday he will step down as President-elect Dilma Rousseff takes office. Meirelles, Brazil's longest-serving central bank president, told reporters he will leave the post on December 31...

A key objective of a tax system is to raise revenue to fund public expenditure.Jamaica's tax regime seeks to do this but it has been overwhelmed for many years in servicing our ever-growing national debt.

THE TRUSTEE trying to recover money for investors cheated by jailed financier Bernard Madoff announced a lawsuit Wednesday against the Swiss bank UBS AG and related entities and individuals, alleging they collaborated in Madoff's Ponzi scheme....

The 220 Jamaica Exporters' Association (JEA) mem-bers who do business with northern Caribbean countries are disappointed with returns from that market which, based on CARICOM figures, are expected to fall below last year's...

Every year for well over a decade, Scotiabank Jamaica has improved on its profits - except for this one.Yesterday, the banking group posted annual profit of J$10.7 billion, down from J$11.6 billion at year end October 2009.

Joseph m.Matalon is bringing British Caribbean Insurance Company Limited (BCIC) and WIHCON Properties Limited under the direct ownership of the ICD Group, continuing a move to flatten the corporate structure and, ultimately, save money.

Jamaica is opening a J$204 million window next year to finance local production of mutton, which is popular on dinner plates but is mostly imported at high cost of more than a billion dollars.With US$2.37 million ...

Ireland unveiled the harshest budget measures in its history Wednesday, a four-year plan to slash deficits by €15 billion (US$20 billion) so it can get a massive bailout from the European Union (EU) and the International Monetary Fund (IMF).

Oracle Corp's courtroom clash with archenemy SAP AG has paid off handsomely.A jury on Tuesday ordered SAP to pay US$1.3 billion - more than half of its total profit last year - for a subsidiary's skullduggery in stealing a stockpile of software...

Venezuela is touting a vast natural gas discovery off its coast, a project that President Hugo Chavez says will help turn the oil-exporting country into a major global gas producer.Venezuela's oil minister...

Being a leader - executive director, manager, supervisor - can be a challenging job in the best of times. However, when your company is facing serious challenges to survive...