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  • BOJ introduces mid-day FX trading rate

    September 23, 2017 3:14 PM 1

    The Bank of Jamaica (BOJ) on Thursday said it will, starting next Monday, begin publishing mid-day rates for the four major currencies traded in the local market. The bank said the rates for the US and Canadian dollars, British Pound, and the Euro will be published on its website at 1:00 pm each day in keeping with a promise made earlier this year. “This rate publication

  • Gov't finalises Alpart deal with JISCO

    September 23, 2017 8:55 AM 1

    TRANSPORT and Mining Minister Lester 'Mike' Henry yesterday finalised the deal with Jiuquan Iron & Steel Company (JISCO) completing the company's acquisition of Alpart. In a release yesterday, the Ministry of Transport and Mining said Henry signed three agreements with the company in Jiayuguan, China. The documents, Establishment Agreement, the Fiscal

  • Surging stock market powers US wealth to US$96 trillion

    September 22, 2017 5:00 AM

    A healthy gain in the stock market and steadily increasing home prices boosted Americans' household wealth this spring, a trend that likely adds to the nation's inequality. The Federal Reserve said Thursday that Americans' net worth rose 1.8 per cent to US$96.2 trillion in the April-June quarter. Stock portfolios and mutual funds jumped US$1.1 trillion

  • Scotiabank’s Anya Schnoor moves to Toronto

    September 20, 2017 8:36 PM 1

    Jamaican Anya Schnoor, Managing Director of Scotiabank Trinidad and Tobago and Senior Vice President and Head of Caribbean South and East, has been promoted to an international position as Executive Vice President, Retail Payments, Deposits and Unsecured Lending. In her new role, Schnoor will be responsible for designing and delivering financial solutions

  • JPS says 45% of country's energy to come from LNG by 2019

    September 20, 2017 3:56 PM 2

    The Jamaica Public Service (JPS) says by June 2019, forty-five percent of the energy it supplies to the country will come from cheaper, cleaner liquefied natural gas (LNG). By then, the power company’s Old Harbour and Jamaica Aluminium Company plants will come on stream to join the Bogue facility in St. James. According to the company’s Regional Director

  • Blackout hits flights in Panama, a major Latin America hub

    September 20, 2017 6:13 AM

    PANAMA CITY, Panama (AFP) — A blackout in Panama's main international airport — a major hub for Latin America — caused many flight cancellations and delays on Monday, airport sources said. A malfunction in a circuit panel distributing power internally to the facility was to blame, according to the airport authority, which had set up a “crisis room” to handle

  • JSE to speed up trading settlement cycle

    September 20, 2017 6:13 AM 1

    In a move to improve speed and meet international standards, the Jamaica Stock Exchange (JSE) and its subsidiary, Jamaica Central Securities Depository Limited (JCSD), have plans to cut the change settlement of transaction times from its current trade period of date plus three days (T+3) to trade date plus two days (T+2) . At present, the movement of cash and shares

  • Walgreens, Rite Aid revise deal

    September 20, 2017 5:00 AM 1

    Walgreens and Rite Aid have finally devised a combination of the nation's largest and third-largest drugstore chains that will get past antitrust regulators. The companies said Tuesday that they have Federal Trade Commission clearance for a slimmer version of a store-purchase agreement announced in June. Walgreens will now spend US$4.38 billion on 1,932 stores

  • Guyana turns to Jamaica to protect food exports

    September 19, 2017 7:46 PM 1

    The Guyanese government has sought to protect its exports to the United States by turning to Jamaica for assistance in preparing processed food exporters to meet the requirements of the US Food Safety Modernisation Act (FSMA). As a result, Caribbean suppliers to the US market who fail to meet the requirements of the law could have their exports rejected

  • Panel votes to roll back of aviation safety rules

    September 17, 2017 5:00 AM 1

    An influential industry committee recommended Thursday that the Federal Aviation Administration eliminate or scale back dozens of safety rules, including one on airline pilot qualifications. The FAA's Aviation Rulemaking Advisory Committee said the recommendations are a response to an effort by the agency to comply with President Donald Trump's directives