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  • Puerto Rico launches new drive for US statehood

    January 19, 2018 5:21 AM

    WASHINGTON, United States (AFP) – Hurricane-ravaged Puerto Rico has launched a new drive to become the 51st US state, with the island's governor demanding an end to “second-class” treatment of its citizens. Puerto Rico's more than three million residents are US citizens, with no obstacles to living and working on the mainland. Yet the US commonwealth

  • Seprod transfers dairy assets inhouse

    January 19, 2018 5:00 AM

    Seprod Limited has advised that it conducted a transfer of shares that shifted ownership of diary assets directly to itself from large shareholder Musson Jamaica. The transaction occurred on January 1, 2018, where shares of Musson Holding Limited were transferred, at a nominal cost, from Musson (Jamaica) Limited to Seprod Limited. The cost of the transaction

  • Sweet deal: Nestlé sells US candy to Ferrero for US$2.8 billion

    January 17, 2018 6:06 AM 4

    GENEVA, Switzerland (AFP) — Nestlé said Tuesday it has agreed to sell its US candy business to Italy's Ferrero for CHF 2.7 billion ($2.8 billion/2.3 billion euros) in cash as the Swiss food giant shakes up its product portfolio. Ferrero — known for its Tic Tac, Nutella and Ferrero Rocher brands, but which has traditionally preferred organic growth to acquisitions

  • Greek gov't goes to pot Greece set to allow medical cannabis use

    January 17, 2018 6:06 AM 4

    ATHENS, Greece (AFP) – Greece's parliament is expected to approve the medical use of cannabis in the coming weeks, a deputy minister said Sunday, adding that the change would attract investment to the country. “In a few weeks' time, an amendment will be brought to parliament to define the legislative framework for the cultivation and manufacturing of pharmaceutical

  • Elite seeks $141m from junior market

    January 17, 2018 4:42 AM 4

    Elite Diagnostics Limited is seeking $141 million of equity capital from an initial public offering that will open January 22. The medical diagnostics company intends to use the proceeds for working capital and to pay down its debt. Elites' long-term loans doubled last year to $114 million. The junior market IPO will offer 70.68 million shares at $2 each, 14.9 per cent of which

  • World food prices up 8.2% in 2017 — UN

    January 14, 2018 5:52 AM 6

    PARIS, France (AFP) – Global food prices rose by 8.2 per cent in 2017 compared to 2016, the UN's food agency said on Friday. The Food and Agriculture Organization said that its FAO Food Price Index averaged 174.6 points in 2017, the highest annual average since 2014. In December alone, however, the index – a measure of the monthly change in international

  • FLOW fixes landline after six months

    January 14, 2018 5:52 AM 6

    We live in Mandeville, and my husband's FLOW landline has not worked for the past six months. He has made numerous complaints to FLOW'S customer service to no avail. Please see what you can do to assist us, as he runs a skills training workshop and urgently needs the use of the phone. After contacting FLOW, we were told that the technicians were trying

  • Growing C&WJ to close Eureka branch

    January 14, 2018 5:52 AM 5

    Community and Workers of Jamaica Co-operative Credit Union Limited (C&WJCCUL) in advising that it will be permanently closing its Eureka Road branch as of February 1, 2018, says the move is strategic with plans the company has for 2018. Chief Executive Officer, Carlton Barclay in an interview with the Jamaica Observer yesterday, said 2017 brought excellent

  • Canada launches trade complaint against US over duties

    January 14, 2018 5:00 AM 8

    Canada has launched a wide ranging attack on US trade practices with an international complaint over Washington's use of punitive duties. The United States called it ill-advised. The complaint, which was filed last month but not released until Wednesday, ramps up tensions amid talks on renegotiating the North American Free Trade Agreement by the three

  • WIHCON residential development Seascape to launch by March

    January 14, 2018 5:00 AM 5

    The housing project being pursued by WIHCON near Harbour View at a cost $1.12 billion will launch into construction this quarter, the company said. The complex, to be called Seascape, will incorporate 96 homes on lands provided for the project by the Ministry of Economic Growth and Job Creation. WIHCON's General Manager of Development Aisha Campbell