Scotiabank defends decision to exit some markets in the Caribbean

By |2018-11-30T23:59:41+00:00November 30th, 2018|news|

PORT OF SPAIN, Trinidad (CMC) – Scotiabank Wednesday defended its decision to exit some markets in the region even as it insisted that the “Caribbean is very important” to its overall operations. “We are just re-focusing on the markets with size and scale… (and) even after this transaction we will be servicing 90 per cent [...]

KPH stages free health fair Saturday

By |2018-12-07T01:18:41+00:00November 30th, 2018|Corporate Social Responsibility, news|

KINGSTON, Jamaica — Kingston Public Hospital (KPH) will be hosting its second free Health Fair on Saturday, December 1 from at 9:30 am to 4:00 pm. The fair, which will take place at the hospital's Out-Patient Department North, is in collaboration with the Insurance Association of Jamaica and the Jamaica Medical Foundation. KPH said members of the [...]

Don’t Be Intimidated!

By |2018-11-30T14:47:53+00:00November 30th, 2018|news|

RADCLIFFE Lewis, the tough-talking former Senior Superintendent of Police in charge of the Traffic Division, says the Government should not be intimidated by recent protests against the new Road Traffic Act. “It's a country's responsibility to protect its citizens, especially from road hogs. I'm in total support of the new Road Traffic Act. In fact, [...]

Wisynco targeting sevenfold export growth through partnerships

By |2018-11-30T14:45:06+00:00November 30th, 2018|news|

Wisynco sells $24 billion worth of products annually, but just a fraction comes from markets overseas. But now that the manufacturing and distribution conglomerate has added new production and storage capacity and has wrapped up its expansion and post-fire consolidation programme, Wisynco has set itself the goal of growing exports sevenfold, from the current 1.4 [...]

Bolt is now a real estate investor

By |2018-11-30T14:28:32+00:00November 30th, 2018|news|

It's been one of the worst-kept secrets in Kingston that sport celebrity Usain Bolt is associated with a large building under development on Half-Way Tree Road. It now appears that this project may start of the roll-out of more real estate investments into which the Olympian and World champion is pumping some of his wealth. [...]

Sagicor Financial profit projected to jump 50% on Scotia Life acquisition

By |2018-11-30T14:23:07+00:00November 30th, 2018|news|

The acquisition of Scotiabank's life insurance businesses in Jamaica and Trinidad & Tobago are projected to increase profit by 50 per cent for Sagicor Financial Corporation, SFC, Canadian filings indicate. The prospective owner of Sagicor Financial, Alignvest of Canada, is also telegraphing that there are more deals to be made. "The Scotia Life acquisition is [...]

Alternative proposals to Road Traffic Act amendments to be reviewed

By |2018-11-29T17:32:56+00:00November 29th, 2018|news|

KINGSTON, Jamaica — A technical team from the Ministry of Transport and Mining is to review alternative proposals to amendments in the Road Traffic Act, following a meeting with the Transport Operators Development Sustainable Services (TODSS) and the Jamaica Association of Transport Owners and Operators (JATOO). The ministry, in a release today, said Minister [...]

Fed rate hikes aren’t automatic – Powell

By |2018-11-29T17:22:06+00:00November 29th, 2018|news|

United States Federal Reserve Chairman Jerome Powell cast a bright picture of the US economy Wednesday and appeared to suggest that the Fed might consider a pause in its interest rate hikes next year to assess the impact of its credit tightening. Powell's comments ignited a rally on Wall Street, with the Dow Jones Industrial [...]

Pension crisis at NWC, utility company unable to pay $19.5B

By |2018-11-29T17:17:48+00:00November 29th, 2018|news|

Livern Barrett, Parliamentary Reporter The National Water Commission (NWC) is reporting that it is unable to pay pension liabilities totalling $19.5 billion. As a result, President of the NWC, Mark Barnett, who made the disclosure today, says the utility company is now undertaking "comprehensive" pension reforms. And he warned that this will "impact" all employees. [...]

Regional unions oppose Scotiabank’s restructuring

By |2018-11-28T14:33:04+00:00November 28th, 2018|news|

A group of regional union leaders, led by Jamaica's Bustamante Industrial Trade Union (BITU), vowed yesterday to challenge Scotiabank's transitional programme across the region. Six visiting trade unionists, who arrived in Jamaica over the weekend to join the BITU's response to Scotiabank's plans to transition three local service units to the Dominican Republic, said they [...]

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