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  • Allison Peart named 2018 ICAJ most outstanding chairperson

    August 3, 2018 5:32 AM 8

    Allison Peart, FCA, FCPA, BSc, chairman of the taxation committee, Institute of Chartered Accountants of Jamaica (ICAJ), was named Most Outstanding Chairperson of the Year at the institute's annual general meeting last week at the Knutsford Court Hotel in Kingston. Peart is the country managing partner and tax partner at Ernst & Young (Jamaica). “I am delighted

  • Caribbean Cement gives staff $260m office present

    August 3, 2018 4:45 AM 6

    Jamaica's sole cement maker is pouring more than a quarter of a billion dollars into new office digs for its administrative staff at the Rockfort complex in Kingston. Caribbean Cement Company Limited described the project as an investment in its employees amid a much larger US$50 million spend on the manufacturing plant being rolled out over three years

  • Increased access to small business loans through new project in Haiti

    August 1, 2018 5:45 AM 10

    PORT-AU-PRINCE, Haiti (CMC) — Haitians will have increased access to small business loans as the Caribbean Development Bank (CDB), Inter-American Development Bank, Global Affairs Canada and Desjardins International of Canada have partnered to increase services for micro and small enterprises (MSEs) in the French-speaking Caribbean nation. The project

  • Sorrel surprise: Red Stripe beer drinkers seeing red, and loving it

    August 1, 2018 4:24 AM 10

    New variations of Red Stripe are being considered for the Jamaican market, where the sorrel beer and other fruity flavours have become runaway favourites. Sorrel is normally a yuletide drink for Jamaica, but when it comes to beer and other drinks, there has been a culture shift. "Red Stripe Sorrel was introduced for Christmas in 2014. Funnily, it was intended

  • Mexico, Canada stress common front in NAFTA talks

    July 27, 2018 4:45 AM 4

    Mexican and Canadian officials said Wednesday that talks on the North American Free Trade Agreement (NAFTA) will remain a three-way negotiation, despite suggestions by US President Donald Trump that he might pursue separate trade deals with both countries. Mexican Foreign Minister Luis Videgaray said "Canada and Mexico not only share geography, history

  • Oil prices spike after Saudi halts shipments

    July 27, 2018 4:45 AM 13

    Oil prices rose to a 10-day high Thursday after Saudi Arabia's state-owned oil company announced it was temporarily halting crude shipments through a strategic Red Sea shipping lane after Yemen's Shiite rebels attacked two tankers in the strait the previous day. Futures for Brent crude, the international oil benchmark, hit US$74.83 per barrel before

  • Inflation-hit Venezuela unveils new money with fewer zeros

    July 27, 2018 4:45 AM 14

    President Nicol·s Maduro unveiled plans Wednesday for combatting runaway inflation in Venezuela - by printing new paper money with five fewer zeros. The announcement came two days after the International Monetary Fund warned that Venezuela's inflation could top one million per cent this year. Maduro said the monetary conversion will spark "great revolutionary

  • Colleges ask for a share of future salary in lieu of loans

    July 25, 2018 5:35 AM 8

    MONTPELIER, United States (AP) — As more students balk at the debt loads they face after graduation, some colleges are offering an alternative: We'll pay your tuition if you offer us a percentage of your future salary. Norwich University announced yesterday that it will become the latest school to offer this type of contract, known as an income share

  • Lasco Distributors pays down debt

    July 25, 2018 4:45 AM 20

    Lasco Distributors Limited paid down nearly half-billion dollars of the loans secured for its build-out project at Red Hills Road in Kingston in the quarter ending June. The $1.2-billion project will create an additional 100,000 square feet of storage space at the warehouse complex. The additional space facilitated the increased inventory under its deal to distribute

  • Playa expects to recoup part of Jamaican investment in under five years

    July 25, 2018 4:45 AM 13

    Playa Hotels & Resorts Limited expects to recoup its investment in the Jewel Grande and Hilton Rose Hall resort properties acquired under a deal with Sagicor Group Jamaica, in less than five years. The disclosure was limited to those two properties - both based in Montego Bay - and Playa is refusing to say why, citing market rules. "Unfortunately we are unable