May 29, 2012
Jamaica debt reduction imperative, says finance minister
Jamaica must work to reduce its debt, even as negotiations continue on a new standby arrangement with the International Monetary Fund (IMF), said Finance and Planning Minister, Dr Peter Phillips.Opening the 2012/13 Budget Debate on Thursday in the…
May 29, 2012
Oil drilling company expects to start work in Bahamas by end of next year
The company hired by the Bahamas Petroleum Company (BPC) to plan and execute an exploratory well in Bahamian waters says it believes it will be drilling by the end of next year. Applied Drilling Technology International (ADTI), based in Texas,…
May 29, 2012
$65m heist trial put off in Jamaica
The case involving five men implicated in the robbery of $65 million from security guards in February last year has been put off until Thursday. The case was called up today in the Gun Court. The accused are Oral Chin, André Malcolm, Corriann…
May 29, 2012
China and Japan to start direct yen-yuan trade in June
China will allow direct trading of the yuan and the Japanese yen, in a move aimed at promoting trade between Asia's two biggest economies. This means the two countries will not be using the US dollar as an intermediary. China, which sometimes has…
May 29, 2012
Spain funding situation ‘very difficult’, PM Rajoy says
Spain's prime minister has said it is "very difficult" for the country to get funds. He was speaking amid growing fears about the Spanish banking sector, after Bankia asked the government for 19bn euros ($24bn, £15bn). The premium investors…
May 29, 2012
Canada to force striking rail workers back to work
The Canadian government has introduced legislation to force striking workers at Canadian Pacific Railway to go back to work. Almost 5,000 staff took action at midnight last Wednesday, bringing traffic to a halt on 24,000 km (14,900 miles) of track.…
May 29, 2012
China looks to boost private-sector investment in banks
China has opened up its banking system to private-sector investors, the latest move by Beijing aimed at underpinning economic growth. Over the weekend, China said that private investors would have the same rights as state firms when trying to…
May 29, 2012
Greek banks receive 18bn euros from bailout fund
Four Greek banks have received 18bn euros (£14.4bn, $22.6bn) as part of the nation's most recent bailout. The funds will be divided between National Bank, Alpha, Eurobank and Piraeus Bank. The money has been released by the European Financial…
May 29, 2012
UN envoy Kofi Annan set to meet Syria’s Bashar al-Assad
UN-Arab League envoy Kofi Annan is due to hold talks on Tuesday with Syrian President Bashar al-Assad in Damascus. Mr Annan's plan to end the country's conflict has been overshadowed by international revulsion at Friday's massacre in the Houla…
May 29, 2012
Bluefin tuna record Fukushima radioactivity
Pacific Bluefin tuna caught off the coast of California have been found to have radioactive contamination from last year's Fukushima nuclear accident. The fish would have picked up the pollution while swimming in Japanese waters, before then…