April – June 2017 For the review period of April to June 2017 the Bank of Jamaica (BOJ) indicated that the Bank will move forward with its accommodative monetary policy stance. This policy according to Governor Brian Wynter, reflects the run of very low inflation over the last fiscal year. The Bank further predicts that
Jamaican Teas Limited (JAMT) has advised of its delay in the submission of the third quarter accounts due to the inclusion of KIW International Limited accounts for the first time. It is expected that the financial statements will be submitted no later than August 17, 2017.
Berger Paints Jamaica Limited (BRG) has advised that Mr. Mustafa Turra tendered his resignation as General Manager effective August 15, 2017. BRG further advised that Mr. Andy Mahadeo will act as the company’s General Manager until a replacement is in place. Additionally, BRG has advised that concurrent with the indirect purchase of 51% of Berger
IronRock Insurance Company Limited (ROC) has advised that a connected party purchased a total of 38,000 ROC shares on August 15, 2017.
Jetcon Corporation Limited (JETCON) has advised that a connected party purchased a total of 549,919 JETCON shares during the period August 9 – 14, 2017.
JAMT has also advised that a connected party sold 25 million JAMT shares to another connected party on August 16, 2017.
U.S.: Fed Minutes May Show Battle Lines Hardening Over Soft Inflation Federal Reserve watchers may get a better feel Wednesday for how many policy makers remain resolved to raise interest rates again this year, and how many are wavering amid a five-month stretch of soft inflation reports. Economists and investors are also keen for more
General Accident Insurance Company Limited (GENAC) For the six months ended June 30, 2017: GENAC reported net premium written of $673.34 million, 15% more than the $585.29 million reported for 2016. This was as a result of a 4% increase in gross premium written to $4.55 billion (2016: $4.37 billion), while reinsurance ceded increased by 3%
Net International Reserves Jamaica’s Net International Reserves totaled US$2,736.35 million as at July 2017, reflecting an increase of US$119.54 million relative to the US$2,616.81 million reported as at the end of June 2017 (see figure 1). Changes in the NIR resulted from an increase in Foreign Assets of US$126.23 million to total US$3,311.88 million. Securities contributed
Asia: China's July new loans fall to 825.5 bln yuan, but higher than f'cast Chinese banks extended 825.5 billion yuan ($123.7 billion) in net new yuan loans in July, above analysts' expectations. Analysts polled by Reuters had predicted new yuan loans of 800 billion yuan, down sharply from 1.54 trillion yuan in June. Broad M2
