-       Streaming giant adds 6.96 million users globally in the quarter.

-       Outlook shows international markets will fuel the company’s growth.

Source: Bloomberg

-       The offer received the unanimous support of commercial banks, the general and life and insurers, the National Insurance Scheme (NIS), the Central Bank of Barbados, as well the support of almost an entirety of ordinary Barbadians and firms holding claims.

-       Total claim size exchanged is in the region of  BB$11.9Bn or  US$5.95Bn

Source: Nation News

-       KEX reported a profit of $88Mn (EPS:$0.18) for the first quarter ended August 31, 2018, relative to $56Mn (EPS:$0.12) a year earlier.

-       Revenue grew by 23.5% over the period which was the primary driver for the performance. 

-       The company attributes its growth in sales to improvement in accessibility and throughput times at its call centre operations and its digitization efforts which has increased access to its services.

Source: JSE, KEX Financial Report

-      Jamaica’s benchmark CPI index for September 2018 grew 1.1% in September. 

-       This was primarily influenced by 4.6% increase, in the index for ‘Housing, Water, Electricity, Gas and other Fuels’ due to increased rates for electricity, water and sewage. 

Source: STATIN

• Net profit for the 9 months to September 2018 was $690Mn (EPS: $0.57), representing 717% increase compared with $84.42Mn (EPS: 0.07) recorded last year. 
• Net Revenues increased by $634.8Mn over the corresponding period last year, to reach $657.8Mn.
• Total comprehensive income, amounted to $6.76Bn, compared to $807.95Mn for the corresponding quarter of 2017; an increase of $5.95Bn or 7.36x.
• The company which operates like a quasi-index fund held 31 stocks across the Main and Junior Markets in its portfolio as at the report date and recently received $2.2Bn through a loan which it intends to use to purchase additional shares.

Source: Mayberry Jamaican Equities  3rd Quarter Financial Statement

• As part of its Extraordinary Rate Review application to the Office of Utilities Regulation (OUR), the JPS proposed to refinance US$179.2 million of its existing long-term debt to reduce the interest rate from 11% to 8% per annum. 
• The company says the refinancing would translate into savings of US$ 5.37 million per annum for the remaining three years of the debt.
• Customers could receive US$3.4Mn per annum reduction on their bills as a result of the refinancing.

Source: RJR

• Hopes of a deal on the U.K.’s exit from the European Union as early as next week remains high, even as some officials are warning that obstacles still need to be overcome.
• The European Union’s chief negotiator, Michel Barnier, said a deal is “within reach” as negotiations over the thorny Northern Irish border seem close to resolution. The pound is trading above $1.3200 this morning amid the optimism.

Source: Bloomberg

• Late yesterday evening Petrotrin was able to successfully block an injunction granted by the Industrial Court from taking effect, as the Appeal Court grants a stay on the ruling.  
• It now means the company can now proceed with the termination process.

Source: Trinidad Guardian

• Consumer confidence for 3^rd quarter of 2018 was  at 172.6 points, up from 159.1 points in the 2^nd quarter, according to survey numbers from the Jamaica Chamber of Commerce.  The boost in confidence is due primarily to views on current and future job prospects.
• Business confidence on the other hand remains flat a 140, on the other hand, used economic growth prospects resulting from the recent depreciation in the local currency.  While firms are still bullish on investment, the latter has also caused some investors to be less willing to invest in new plant and equipment.

Source: Gleaner (Finance)

• Finance Minister Colm Imbert has warned that Trinidad and Tobago’s economy will suffer “profound implications” if Petrotrin is prevented from moving forward with its restructuring plan.
• He said just yesterday he received a letter from Petrotrin asking for financial support by giving Government guarantees for financial facilities to three banks to the tune of TT$1.2 billion and when he signs this it immediately pushes this country’s debt profile up.
• Imbert said these financing facilities need to be refinanced on or before October 15.

Source: Trinidad Express