Jamaica-China Sugar Deal Sours: Report

By: - August 2nd, 2011

Chinese firm COMPLANT, to whom the Jamaican government divested three state-owned sugar estates last year, is reportedly showing reservations over the deal. Cleveland Keddo, chairman of the Westmoreland and Hanover Cane Growers association, said the Chinese were not aware of all the difficulties they would experience in the Jamaican sugar industry. The company’s sale and purchase deal was for $9 million and included the expected construction of a 200,000-tonne refinery. [Jamaica Gleaner]

Jamaica

Jamaican Bananas Get a European Boost

Jamaican Deputy Governor-General Steadman Fuller is praising the support the European Union has given the Jamaican banana industry, calling it an important catalyst for economic activity in the agricultural sector. “The European Union-funded Banana Support Programme is an indication of resilience and commitment to an industry that has demonstrated its ability to survive major changes […]

Jamaica

OLINT Investors Await Smith Sentencing

Above: Federal District Court in Orlando, Fla. By Robert Di Pano David Smith, the mastermind behind the Caribbean-based Olint Ponzi Scheme that bilked investors out of over $220 million, will be sentenced Aug. 11 in United States District Court in Orlando, Fla. Smith pled guilty March 28 to 23 counts of wire fraud, conspiracy to […]

Jamaica

Beenie Man Regains United States Visa

By the Caribbean Journal staff Jamaican reggae star Beenie Man has regained his United States visa, he announced today in a release. According to a spokesperson, Beenie Man, whose real name is Moses David, said he re-affirmed his “commitment to decency and family values as integral aspects of Jamaican reggae music.” Beenie Man was represented […]

In Jamaica, a Row over Scrap Metal

 Above: From left: Industry, Investment and Commerce State Minister, Hon. Michael Stern and Minister of Industry, Investment and Commerce, Dr Christopher Tufton (right), at his New Kingston offices, Tuesday. (JIS Photo) By the Caribbean Journal staff A controversy is growing in Jamaica over the decision by the government to totally ban the export of scrap […]

Jamaica's Palmyra Resort in Receivership

 The $150 million Palmyra Resort and Spa in Rose Hall, Jamaica, has been placed in receivership by local banks, according to sources. National Commercial Bank, likely the hotel’s largest creditor, is owed $88 million in financing. Kenneth Tomlinson, the CEO of Business Recovery Services, has been named the receiver. [Jamaica Observer]

Improving Jamaican Manufacturing

 Above: From left: Industry, Investment and Commerce State Minister, Hon. Michael Stern and Minister of Industry, Investment and Commerce, Dr Christopher Tufton (right), at his New Kingston offices, Tuesday. (JIS Photo) By the Caribbean Journal staff A controversy is growing in Jamaica over the decision by the government to totally ban the export of scrap […]

Unease over Jamaica's IMF Review

 The Private Sector Organization of Jamaica is concerned about Jamaica’s loan arrangement with the International Monetary Fund, as the world body has yet to complete its performance review for December 2010 and March 2011. Earlier this week, People’s National Party leader Portia Simpson Miller renewed a call for full disclosure regarding the status of the […]