Brithney Clarke reports. Scotiabank has sold its operations in Belize to Caribbean Investment Holdings, owned by British billionaire, Lord Michael Ashcroft. Caribbean Investment Holdings is the owner of the country's largest bank, the Belize Bank, which holds a 27-per...
The Jamaican dollar has fallen below 140 to 1 US for the first time since April. The local currency hit a peak of 147-dollars 39-cents to 1 US on May 18. But it opens today at an average 139-dollars 88-cents, after gaining 67-cents in yesterday's trading. The local...
Digicel has completed its US$1.6-billion debt restructuring.A reported 97% of the telecoms company's bondholders have agreed to accept the new terms.The move will reduce Digicel’s debt from $7 billion to $5.4 billion US.This will reduce its annual interest payments by...
Neika Lewis reports The embattled light and power company, Jamaica Public Service, JPS, is admitting that a 12-per cent increase in estimated bills has resulted in higher bills for its customers. JPS is being blasted by many of its customers who're lamenting that the...
Chevon Campbell reports. A majority of school principals polled in a new survey say they want a new union to represent them, as the Jamaica Teachers Association, JTA, and its President Owen Speid, are doing a poor job. Nationwide News has obtained a copy of the...
Digicel is extending the deadline for bondholders to agree to its new repayment terms. The telecoms company is moving to cut its overall debt from around 7 billion US dollars to 5-point-4 billion. The agreements concern the company's senior bonds, due in 2024 with an...
PHOTO: RUDRANATH FRASER Former Bank of Jamaica Governer, Brian Wynter, has hit back at critics who've described his appointment as Senior Advisor to the NCB Financial Group, as risky. Some say Mr Wynter should've let reasonable time pass before being engaged by the...
Digicel Group Chairman Denis O’Brien (Photo: Irish Times) Kalilah Reynolds reports. Documents filed by the telecommunications firm, Digicel, in the United States reveal that its Chairman, Denis O'Brien, received nearly 2-billion US dollars in dividends between 2007...
Jamaicans should expect the exchange rate to remain high in the coming months, as the country seeks to recover from COVID-19. That's according to economist, Dr. Damien King. Dr. King and banker, Dr. Adrian Stokes, were speaking on Nationwide This Morning. The Jamaican...
Banker, Dr. Adrian Stokes, says he believes Jamaica's balance of payments situation is manageable. Dr. Stokes says the Bank of Jamaica, BOJ, has to be very conservative in how it manages the situation. Meanwhile, economist, Dr. Damien King, says Jamaica is fortunate...