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National Debt Exchange Published: 12 February 2013

The air of market uncertainty around whether or not there would be another debt restructuring was dispelled with last evening’s update on the IMF negotiations from the Prime Minister and the Minister of Finance. In order to signoff on the long awaited agreement and gain access to an Extended Fund Facility, the government must take certain prior actions. These prior actions include the elimination of discretionary waivers, initiate changes to bring the wage to GDP ratio to 9% by 2015/16, and the most significant initiative, a debt restructuring that will assist in bringing the country’s debt to sustainable levels. With respect to the latter, the Prime Minister announced the launch of a National Debt Exchange (NDX).

 Click here to read more: National Debt Exchange 2013


NCBJ’s IPO Postponed Published: 08 February 2013

The Board of Directors of National Commercial Bank Jamaica Limited (NCBJ) will consider a dividend payment at a meeting to be held on Thursday February 14, 2013.

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Dividend Declaration-CAR Published: 08 February 2013

The Board of Directors of Carreras Limited has declared an interim dividend of $1.40 per share and a special dividend of $1.20 per share payable on March 13, 2013 to shareholders on record as at February 21, 2013. The ex-dividend date is February 19, 2013.

Fiscal Deficit Exceeds Budget Published: 05 February 2013

For the fiscal year to November, Central Government recorded a fiscal deficit of $48.27Bn which exceeded the budgeted amount by $2.07Bn. The primary surplus was $31.30Bn or $6.11Bn less than budgeted.

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Balance of Payment –January to September 2012 Published: 05 February 2013

During the January – September 2012 period, the current account deficit narrowed by US$119.7Mn to US$1,280.8Mn when compared to the corresponding 2011 period. The improvement in the current account resulted from all sub-accounts, with the exception of the services account.

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Inflationary Outturn-December 2012 Published: 05 February 2013

Recently released data indicate that for the month of December consumer prices rose by 1.0%, the fastest rate of increase since March 2011. The lingering effects of Hurricane Sandy on the Agriculture production have resulted in the “Vegetables and Starchy Foods” and the “Fruits” subdivisions registering a 7.1% and 2.5% increase, respectively.

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Net Remittance Increased Marginally in November Published: 04 February 2013

Net remittances for the month of November increased US$3.3Mnor 2.5% to US$136Mn relative to the corresponding period in the prior year. The positive, though marginal, improvement in net remittances came as a result of a decline in remittance outflows and a marginal increase in inflows. In November, inflows rose by US$2.7Mn or 1.7%, which was primarily driven by remittance inflows to companies. Company inflows increased by US$7.1Mn, while “other remittances” declined by US$4.3Mn during the month.

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Lascelles Completed the Sale of Globe Holdings Published: 28 November 2012

Lascelles deMercado & Co. Limited has advised that it has completed the sale of Globe Holdings Limited, together with its subsidiary, Globe Insurance Company of Jamaica Limited on Friday, November 16, 2012.

SGJ & SIJL to Consider Dividend Payment Published: 28 November 2012

The Boards of Directors of Scotia Group Jamaica Limited and Scotia Investments Limited will consider a dividend payment at a meeting to be held on November 29, 2012.

Kingston Wharves Declared Dividend of $0.10 Published: 27 November 2012

The Board of Directors of Kingston Wharves Limited has declared a dividend of $0.10 per share payable on December 21, 2012 to shareholders on record as at December 7, 2012. The ex-dividend date is December 5, 2012.