NCB Financial Group Limited (NCBFG) has advised of a transaction under which the Company will acquire a majority stake in Clarien Group Limited (CGL), owner of Clarien Bank Limited (Clarien) based in Hamilton, Bermuda. Under the transaction agreement, NCBFG will acquire a 50.1% majority stake in CGL. Funds managed by Portland Private Equity (PPE) will
Jamaica Public Service Limited (JPS) has advised that at a Board of Directors’ meeting scheduled for December 8, 2017 a dividend payment for Class F Preference shareholders will be considered.
Cable Bahamas Limited (CAB) has advised of the resignation of Mr. Calvin Knowles from the Audit Committee effective August 2, 2017. CAB further advised that the resignation was not related to any disagreement in respect to accounting principles of practice, financial statements disclosure or any other material issue impacting on the Audit Committee or the
During the period January to September 2017 the trade deficit worsened to US$3,205.3 million, increasing by US$561.4 million or 21.2% relative to US$2,643.9 million for the corresponding period in 2016 based on data released by the Statistical Institute of Jamaica (STATIN). STATIN highlighted, “Expenditure on imports from the United States of America (Jamaica’s main trading
Asia: China cracks down on online micro-lending firms with new rules China’s financial regulators on Friday circulated new rules to local governments targeting a rampantly growing online micro-lending sector, part of a campaign to rein in its rapidly developing financial sector. A top-level multi-ministry body, tasked by the central government to bring risks in the
IronRock Insurance Company Limited (ROC) has advised that a connected party purchased 2,452 ROC shares on November 28, 2017.
Mayberry Investments Limited (MIL) has advised that a connected party purchased a total of 4,800 MIL shares on November 28, 2017.
Brent Oil Brent oil prices declined by 0.33% (US$0.21), as prices declined this week. Oil traded on November 29, 2017 at a price of 63.11 (US$/ barrel) and began the year at US$56.90 per barrel. Petrojam prices 87 Octane prices declined week over week, by 1.41% (US$1.69 ). Additionally 90 Octane declined by 1.38%
Europe: Euro, bond yields slip on tepid European inflation data The euro tumbled to an eight-day low and European benchmark bond yields slipped on Thursday after European inflation data printed below forecasts, supporting the European Central Bank’s plan to remove stimulus only gradually. Euro zone inflation rose by less than expected in November, highlighting that
At 1834 Annual General Meeting held on November 29, 2017, the company’s Managing Director, Terry Peyrefitte, opened her remarks by giving an overview of the company’s performance for the 2017FY. Ms Peyrefitte noted that since the last general meeting the company is coming off a, “very transformational year in 2016.” The company reinvented itself and
