AIC bondholders demand higher returns - Lee Chin to pay 30-50% by Dec 9 - Two more years for full redemption
Billionaire investor Michael Lee Chin on Thursday put a new proposal on the table to AIC Barbados bondholders, asking for another two years to pay off debt on overdue notes, promising returns of 12 per cent. His Jamaican creditors, however, have counter-proposed 13.25 per cent...
SVL issues fraud alert
Supreme Ventures Limited said this week that it had successfully contained the threat from a rogue agent who, in the last week of November, was found to have printed and sold his own game tickets with intent to divert funds for personal use."...
Byles begins search for hotel operator
Sagicor Life Jamaica is already on the hunt for prospective operators of its 256-room hotel property that the Sandals group will demit in six months. The property at Mammee Bay, in St Ann, has operated under lease as Sandals Dunn's River."They have opted...
Pulse aims up-market with Villa Ronai - Starts with discounts for tenants
Moving optimistically to roll out the upscale lifestyle community, Villa Ronai Destination Spa in its Blue Mountains location, Pulse Investments Limited, last week, requested tenders for three new restaurants, a fitness centre with eco-trails and complimentary...
Telecoms rate war reaches FTC
Having long spilled over from the boardroom to the media to the courtroom, the war being waged by the three main players in the mobile telephone market has now reached the desk of Jamaica's competition watchdog, the Fair Trading Commission (FTC). The FTC confirmed this week...
Decompressing high interest rates
The more vocal elements of the local private sector were highly critical of the hike in interest rates late last year by the Bank of Jamaica (BOJ), the fourth or fifth bout of sharp rate increases in the last 18 years...
Was NCB really too big to fail?
I read, recently, the Dr Omar Davies response to a question on why the National Commercial Bank (NCB) was not given the same treatment as Century National Bank and Eagle Merchant Bank at the commission of enquiry...
Who is the boss?
It is often the case in commercial operations that various persons and corporate enter-prises have to hire persons or corporations to carry out specific tasks which require particular skills. Such persons or corporations will typically be hired as independent contractors...
Movements
JLA secretary appointed - Jamaica Livestock Association Limited, on November 24, approved the appointment of Albert Walker as assistant company secretary. Leadership change at JEAThe Jamaica Exporters' Association (JEA) has selected Vitus Evans...
Wealth manager departs NCB Capital Markets
NCB Capital Markets will lose another executive this month with the departure of Wealth Manager Paula Brown, who has terminated her five-year run with the organisation.Brown says her resignation is effective December 31, but she goes on leave today...
Two building societies announce merger plan
The Yorkshire Building Society, Britain's second-largest lender of its kind, and the Chelsea Building Society on Wednesday announced plans to merge.The plan would consolidate Yorkshire Building Society's position by creating a group with assets in...