Latest News

CAC 2000 Limited (CAC) Declares Dividend Published: 12 June 2018

CAC 2000 Limited (CAC) has advised that their Board of Directors at the Board meeting  on May 30, 2018, unanimously voted in favour of an interim dividend payment on ordinary shares based on the CAC’s 6 months results as follows:

  • Dividend Payment Date: July 16, 2018
  • Record Date: June 29, 2018
  • Ex-Dividend Date: June 28, 2018
  • Payment per share: $0.08
  • Total # Shares: 129,032,258
  • Total Value: 10,322,580.64
 
Source: Jamaica Stock Exchage

Barbados Announces Departure of IMF Mission and Appointment of Legal Advisor. Published: 11 June 2018

The Government of Barbados announced [on Friday] that a team from the International Monetary Fund (IMF), led by Bert van Selm, has concluded its three-day visit to Barbados.

During this visit, the Fund team was updated on the economic and financial situation in Barbados.

Preliminary discussions were held on the key challenges faced by the Government, including the country’s very low level of international reserves, its unsustainable debt, and the need to develop an economic plan designed to address current imbalances and create the conditions for sustained broad-based growth.

The Government and the IMF will continue to exchange views over the coming weeks and expect to be able to commence detailed discussions regarding Barbados’s economic reform programme in the coming weeks—a programme that the IMF will be asked to support with financial assistance.

The Government also announced that is has retained the services of Cleary Gottlieb Steen & Hamilton LLP as external legal advisor in the context of the planned debt restructuring that was announced on June 1,  2018.

Information for creditors will be posted periodically at http://gisbarbados.gov.bb/creditors/.

 

Source:  Barbados Government Information Service

Derrimon Trading Company Limited (DTL) Signs Syndicated Facility Published: 11 June 2018

Derrimon Trading Company Limited (DTL) has advised  that the Company has signed a J$625,000,000 Syndicated Facility, arranged and structured by Sagicor Bank Jamaica Limited and First Global Bank Limited at an attractive interest rate. DTL states that the Facility will be amortized over a period of ten (10) years.

DTL advise also that the Facility will be utilized to fully liquidate current short-term debts of the Company and immediately lower their net interest expense

 

Source: Jamaica Stock Exchange

Italy Exit From Euro Not on The Agenda Published: 11 June 2018

Italian Finance Minister Giovanni Tria said that there was no discussion about his country leaving the euro and that the government would block any market conditions that would “push toward an exit” in a weekend newspaper interview. Italian stocks and bonds rallied this morning following the reassurances, with the yield on two-year government debt falling more than 50 basis points and the FTSE MIB Index gaining more than 2 percent. There was less good news from economic data, which showed that industrial production had a surprise decline of 1.2 percent in April. 

Source: Bloomberg