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.

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.

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.

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.

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.

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.

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.

Jamaica Producers Group Limited (JP) has announced that it has now assessed the damage to its business arising from Hurricane Sandy. Hurricane Sandy made a direct hit to JP`s 500-acre banana and tropical produce farm in St. Mary, Jamaica on October 24, 2012.

The Board of Directors of Proven Investments Limited will consider making dividend payments on both its ordinary and preference shares at a meeting scheduled for November 9, 2012.

The Board of Directors of Jamaica Money Market Brokers Limited (JMMB) will consider an ordinary dividend at a meeting to be held on Thursday, November 29, 2012. JMMB has advised that Mr. Damion Brown has been appointed Group Risk Manager effective August 7, 2012.