Barita Investments Limited (BIL) has advised that it has participated in the National Debt Exchange Offer and $6.4 billion of the instruments in BIL`s investment portfolio was directly affected.

The GraceKennedy Board of Directors has approved the buy-back of up to 2.5% of the shares in issue in the company over a period of one year, subject to and with effective date of approval being the date of publication of the Ministry of Finance of remission of the tax which would otherwise be payable by stockholders of the Company on the buy-back of the shares. Further notification will be provided on receipt of confirmation of the remission.

Below are the latest dividends announced

Effective January 25, 2013 the Bank of Jamaica (BOJ) will be lowering the interest rate payable on its 30-day Certificates of Deposit from 6.25% to 5.75% per annum.

The Government has extended the National Debt Exchange (NDX) programme by a week to give more bondholders time to take up the offer.

National Commercial Bank Jamaica Limited has advised that the acquisition of Advantage General Insurance Company Limited has now been completed.

Mr. Jan Kees Martijn, Head of the International Monetary Fund (IMF) mission to Jamaica, issued the following statement today in Kingston:

In keeping with the Government’s objective to improve the fiscal account and to achieve its primary surplus balance target 7.5%, a series of tax measures were tabled on February 12. The package is expected to raise an additional $15.9Bn during fiscal year 2013/14 and also follows from last year’s $19.38Bn package.

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

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.