April 15, 2011
Ireland starts action on subordinated bank debt
Ireland’s High Court opened the way on Thursday for the government to force burden sharing on the owners of subordinated debt in nationalised Allied Irish Banks, the finance ministry said. Last month, Ireland said it would seek significant…
April 15, 2011
Dow, S&P inch up as growth questioned
Stocks that outperform in a weak economy helped the Dow and S&P 500 eke out gains yesterday as concerns about faltering growth and inflation prompted investors to seek out less volatile names. The Dow industrials’ top percentage gainers were…
April 15, 2011
Business community complains about US currency shortage
Former president of the San Fernando Business Association (SFBA) Daphne Bartlett is calling on the Central Bank Governor Ewart Williams to say whether there is a shortage of US currency in the local market. She said a lack of foreign exchange is…
April 15, 2011
Jamaica achieves significant economic and social gains
Jamaica has been able to make significant economic and social gains, despite the continued effects of a fledgling global economy, said Governor General Sir Patrick Allen. Some notable achievements have been the government’s ability to reduce…
April 12, 2011
Retail banks should be ring-fenced, says commission
UK banks' retail operations should be "ring-fenced" from their investment banking arms, the Independent Commission on Banking has recommended. However, in its interim report the commission stopped short of recommending the two should operate as…
April 12, 2011
IMF says risks not expected to derail economic recovery
The global economy remains firmly on a path to recovery but threats to growth remain, the International Monetary Fund (IMF) has said. Among the challenges are rising oil prices, unrest in the Middle East, continued inflation in China and debt…
April 12, 2011
UK ‘will get Iceland money back’
Iceland's President Olafur Ragnar Grimsson has said that the UK and the Netherlands will get back the 4bn euros (£3.5bn) they paid when Iceland's banking system collapsed in 2008. That is despite the country rejecting the latest repayment plan in…
April 11, 2011
CARICOM’s problems create doubt for trading partners
Could a moment come when the Caribbean's partners in Europe and North America reconsider the way…
April 11, 2011
T&T manufacturers looking to set up plants in Jamaica
MANUFACTURERS in Trinidad and Tobago (T&T) including one large player are eyeing Jamaica with a view to establishing operations here, Minister of Industry Commerce and Investment Karl Samuda revealed last week. "They (Trinidadians) are satisfied…
April 11, 2011
European banks face ‘tougher’ stress tests
Europe's banking regulator has said that banks will be subject to tougher tests in its latest examination of their finances. It includes some Irish banks, including one which passed last year's test but later needed a government bail-out. The…