KINGSTOWN, St. Vincent, CMC – The St. Vincent Cocoa Company, which last week abruptly announced that it is ending its operations here in August, will compensate farmers in lieu of the two years’ notice stipulated in the agreement with the ...
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Feed SubscriptionJamaica Waste Management Agency Being Sued For Failing To Manage Dump Site
KINGSTON, Jamaica, CMC— The National Solid Waste Management Authority (NSWMA), is being sued by four people who say the agency’s failure to effectively manage the Riverton City disposal site, resulted in injury to their health. Louie Johnson, Joya Hylton, Lamoy ...
Read More »Possible Criminal And Civil Charges For Former Head Of Failed Hindu Credit Union
PORT OF SPAIN, Trinidad, CMC – Prime Minister Kamla Persad Bissessar Friday said that the former president of the Hindu Credit Union (HCU) Harry Harrarine could face several criminal and civil charges arising out of the 2008 collapse of the ...
Read More »GraceKennedy Buys US Company
KINGSTON, Jamaica, CMC – GraceKennedy has acquired the assets of USA food business, La Fe Foods Inc, through its wholly owned subsidiary, GraceKennedy Foods (USA) LLC, for US$26 million. Making the announcement, last Friday, GraceKennedy CEO, Don Wehby, stated, “This ...
Read More »Caribbean Airlines Continues To Suffer Losses
PORT OF SPAIN, Trinidad, CMC – The Trinidad-based Caribbean Airlines (CAL) is projecting a loss of just under TT$100 (One TT dollar = US 0.16 cents) million for its financial year 2013. Finance Minister, Larry Howai, said that the airline ...
Read More »Caribbean-based Investment Advisors, Attorney Plead Guilty To Laundering And Concealing Funds
WASHINGTON, D.C., CMC – The United States Department of Justice (DOJ) says two Caribbean-based investment advisors and an attorney have pleaded guilty to laundering and concealing funds in Offshore Bank accounts. The DOJ said Joshua Vandyk, a US citizen, and ...
Read More »Support For Bank Of Jamaica’s Intervention To Halt Slide Of Local Dollar
KINGSTON, Jamaica, CMC – The decision by the Bank of Jamaica (BoJ) to intervene in the foreign currency market in a bid to stabilize the local currency has been praised by financial experts. The BoJ stepped in to stabilise the ...
Read More »Repsol Discovers New Oil Reserve In Trinidad Waters
PORT OF SPAIN, Trinidad, CMC – The Spanish energy company, Repsol says it has discovered an oil reserve estimated at 40 million barrels of oil equivalent (boe) in the waters off Trinidad’s south-east coast. In a statement, the company said ...
Read More »Jamaica Makes Successful Return To International Market
KINGSTON, Jamaica, CMC – Jamaica says it has made a successful return to the international money market after a three-year hiatus. A Jamaica Information Service (JIS) report noted that the island, bolstered by an order book of over $4 billion ...
Read More »The Trouble With Debit Cards
By Jon McKay Pride Mortgage Agent We live in a society of instant gratification. Unlike our parents or grandparents – who saved up for larger purchases – we are often tempted to splurge on bigger-ticket items simply because we have ...
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