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  • EU asks WTO for safeguards over US steel, aluminium tariffs

    April 17, 2018 6:23 AM 13

    GENEVA, Switzerland (AFP) — The European Union yesterday followed China in complaining to the World Trade Organization (WTO) over US tariffs on steel and aluminium imports. “Having a substantial interest as an exporter in this case, the European Union requests consultations with the United States” to agree “safeguards”, the EU said in a statement published

  • Digicel Group to lay ground for refinancing of bond

    April 16, 2018 2:44 PM 15

    The Irish Times newspaper is reporting that within the next month Digicel Group will begin to lay the ground for an eventual US$2 billion refinancing of a bond maturing in 2020. The so-called "non-deal roadshow" comes after the 2020 yield rose as high as 15.4 per cent from 8.5 per cent – making it the worst emerging markets performer this year. Digicel

  • UDC assessing feasibility of multi-level parking garage

    April 15, 2018 5:00 AM 18

    The Urban Development Corporation (UDC) is still contemplating whether to move ahead with a gestating plan to develop another parking garage in downtown Kingston, and has hired a consultant to review its commercial prospect. The project was originally proposed for the Kingston waterfront and should have been developed in sync with the construction of a new head office

  • Elite Diagnostic releases mixed financial results

    April 13, 2018 12:46 PM 11

    Elite Diagnostic which was listed on the junior market of the Jamaica Stock Exchange in February has released mixed financial results. During the three months to December 31 its income rose $14 million to $71.8 million. It amounted to $1.1 million down from $8.4 million in the previous year. Meanwhile, Industry and Commerce Minister, Audley Shaw, is urging

  • Panama bans Venezuelan airlines for 90 days

    April 13, 2018 6:47 AM 9

    PANAMA CITY (AP) — Panama on Tuesday prohibited Venezuelan companies from operating flights to Panama in retaliation for Venezuela's diplomatic and trade bans announced last week. The office of President Juan Carlos Varela said the cargo and passenger flights would be banned for 90 days starting April 25. The measure affects 10 Venezuelan companies

  • NCB Capital Markets raises $11 billion on bond

    April 13, 2018 6:47 AM 7

    NCB Capital Markets Ltd raised upward of $11 billion on its recent bond, which closed on March 26 offering investors a high of six per cent on their investment, surpassing last year's historic $10-billion raise in May. This transaction was structured as a highly rated debt security under the Financial Services Commission's Exempt Distribution Guidelines

  • Lebanon donor conference raises billions

    April 11, 2018 5:30 AM 6

    PARIS, France (AFP) — International donors pledged US$11 billion in low-interest loans and aid for Lebanon at a conference in Paris on Friday to try to avert an economic crisis in a country hard hit by the fallout from the Syrian war. Lebanon's growth has plummeted due to political instability, with the effect compounded by the Syrian conflict which

  • Namibia president denies graft in nuclear deal

    April 11, 2018 5:30 AM 5

    WINDHOEK, Namibia (AFP) -- Namibian President Hage Geingob on Monday strongly denied corruption accusations stemming from a French anti-corruption probe centered on the purchase of Canadian mining company Uramin by French nuclear giant Areva. “The accusations of corruption concern the conduct of Areva and/or Uramin and do not implicate Dr Geingob or the government

  • In US-China trade dispute, what is intellectual property?

    April 11, 2018 5:30 AM 5

    WASHINGTON, United States (AFP) — At the heart of the escalation of US-China trade tensions is President Donald Trump's assertion of rampant “theft” of US intellectual property by China. But what constitutes “intellectual property” in today's global economy? In order to sell goods in China, foreign companies must form joint ventures with local companies

  • Trump defends metal tariffs, says prices driving down

    April 10, 2018 6:21 AM 5

    WASHINGTON, United States (AFP) — US President Donald Trump on Friday defended his imposition of tariffs on metal imports, as soaring tensions with China fan global fears of an all out trade war. “Despite the Aluminum Tariffs, Aluminum prices are DOWN 4%,” Trump tweeted, after The Wall Street Journal reported that the metal's price has fallen since early