Former chairman of the financially troubled CL Financial Group, Lawrence Duprey, has blamed the world recession and not mismanagement for the collapse of the Colonial Life Insurance Company (CLICO), the flagship company of the group.
A cousin was driving my car last November when she was hit from behind by a bus. I reported the incident to my insurers, who wrote to the insurers of the third party. The police report stated that the bus driver was at fault. The third party insurers refused to accept liability on February 26.
Trinidad's Finance Minister Larry Howai Friday named a new board of directors for the cash-strapped state-owned national carrier, Caribbean Airlines (CAL), less than 72 hours after he told legislators that the company had accumulated losses in excess of US$100 million.
Minister of Foreign Affairs and Foreign Trade A.J. Nicholson has appealed to the Jamaican private sector to participate in establishing an association to represent their interests at the regional level.
The acquisition of three insurance companies last year contributed US$12 million (J$1.1 billion) in gross premiums to Guardian Holdings Limited's (GHL) earnings for the first quarter ended March 31.
C&WJ Co-operative Credit Union members, in a marathon four-hour annual general meeting, approved the acquisition of the Westmoreland Co-operative Credit Union, allowing it to grow its assets to $6.4...
Hardware and Lumber (H&L) made net profit of $9.9 million for the first quarter ended March 31, rebounding from a loss of $5.2 million reported for the corresponding quarter in financial year 2012.The company has, over the last few years, made...
Warren Buffett's Berkshire Hathaway Inc was downgraded by Standard & Poor's (S&P) Thursday after the credit-rating agency changed the way it evaluates insurance companies.
United Kingdom (UK) lawmakers subjected search giant Google to blistering criticism Thursday, accusing the US Internet company of playing games with Britain's tax rules to avoid paying what it owed.
THE EDITOR, Sir:I write in response to your Financial Gleaner article of May 10, titled 'VMBS finances receive qualified endorsement'.We appreciate your article reporting that in 2012 VMBS was able to increase the surplus attributable to its members by...
Some banks and insurance companies are hesitant to provide financing and coverage for Tata Nano cars, a new automobile introduced to the Jamaican market only a few months ago.But Joe Ferreira, director of new business...
Russia faces harsh times ahead for its economy unless the government improves the country's poor investment climate and implements long-delayed privatisations and reforms, US ratings agency Standard & Poor's (S&P) has warned.
The St Lucia government presented an EC$1.32 billion budget to Parliament late Tuesday reducing subsidies on basic food items such as rice and flour and increasing the value-added tax (VAT) for the hotel industry.
Supreme Ventures Limited (SVL) saw its net profit increased by 76.34 per cent to $1.07 billion for the year to December 2012, in what the company said was its best performance since going public.SVL listed on the Jamaica Stock Exchange on February 28,...
The Jamaican economy is estimated to have contracted by up to 1.2 per cent during the January to March quarter, the Bank of Jamaica (BOJ) has reported.It was the fourth consecutive quarter of negative growth and has resulted in a decline in gross...
First quarters, coming after the Christmas frenzy, are usually bad times for Jamaica's media companies.But with the country's economic fluidity, the Government's prolonged negotiations with the International Monetary Fund (IMF) for an economic support...
Madison Financial Group (MFG), a United States-based sports management firm, is seeking to raise US$1 million or just under J$100 million to finance the development of Jamaican go-kart champion Collin 'CJ' Daley Jr to the Formula One circuit....
A news report in The Gleaner of Wednesday, February 20, carried the face of the JPS president, Kelly Tomblin, under the headline 'Revenue, profit plunge at JPS.' The report stated that "Monopoly power distributor (and very senior oligopoly power...
