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KINGSTON — The Financial Sector Adjustment Company (FINSAC) says it is awaiting advice from the Attorney General’s Department on how to respond to a new appeal for leniency from former Century National Bank (CNB) boss, Don Crawford. In a statement on Tuesday July 12, 2011, General Manager of FINSAC, Errol Campbell, reiterated that following representations from Mr. Crawford, the matter...

KINGSTON — Former Minister of Water and Housing, Dr. Karl Blythe, will appear before the FINSAC Commission of Enquiry at the Jamaica Pegasus Hotel, New Kingston on Thursday, July 14. Dr. Blythe is expected to answer questions from the Commission’s attorney, Judith Clarke, as well as attorney for several of the debtors, Anthony Levy, all day and could return, if...

KINGSTON — Minister of Finance, Hon. Audley Shaw, is challenging banks to “step up to the plate” in assisting Government efforts to enhance investment and grow the economy. While commending achievements in the commercial banking sector, he urged the institutions to become more flexible and creative in dealing with investors, including pointing them to cheaper government funds. “As persons come...

MANDEVILLE — Minister of Finance and the Public Service, Hon. Audley Shaw, says that the reduction in the crime rate has led to encouraging signs of growing business confidence, which will ultimately result in economic growth. “Business confidence is on the rise, not because of what the Ministry of Finance alone is doing, or other arms of Government are doing,...

KINGSTON — Minister of Finance, Hon. Audley Shaw, says he will meet with the International Monetary Fund’s (IMF) new Mission Chief, Luis Breuer on Wednesday July 13, 2011, to discuss all outstanding issues to be considered by the IMF Board for the December and March quarter reviews. He was speaking today at the official launch of the Royal Bank of...

KINGSTON — The Financial Sector Adjustment Company (FINSAC) has denied charges made by businessman Keith Foote that his penthouse apartment at Fisherman’s Point in the fabulous Turtle Beach area of Ocho Rios, was undersold in 2002 to help pay his debts arising from the 1990s meltdown. FINSAC's current General Manager, Errol Campbell, agreed with the suggestion put forward by the...

KINGSTON — Minister with responsibility for the Public Service, Senator the Hon. Arthur Williams, says he is committed to the mission of “bringing a well-defined package of solutions” to address the issues that currently affect the public sector. Senator Williams, who was recently promoted to his current position, now has the responsibility to drive the process in creating a transformed...

KINGSTON — The Government and unions representing public sector workers today July 7, 2011 signed the Heads of Agreement for the payment of the outstanding seven per cent salary increase and retroactive payments owed to civil servants. Speaking at the signing ceremony at the Office of the Prime Minister, Minister with responsibility for the Public Service, Senator the Hon. Arthur...

KINGSTON — Group Managing Director of the National Commercial Bank (NCB), Patrick Hylton, denied any connection between the sale of the bank to billionaire Jamaican-Canadian Michael Lee Chin’s AIC Limited, and his position as its current boss, at Wednesday's sitting of the FINSAC Commission of Enquiry. Asked by attorney-at-law for several FINSAC creditors who were victims of the 1990s meltdown,...

KINGSTON — Former Minister of Water and Housing, Dr. Karl Blythe, is to appear at the FINSAC Commission of Enquiry next week. Chairman of the Commission, Worrick Bogle, confirmed Tuesday afternoon that arrangements are being made for Dr. Blythe’s appearance. He said that the date could be announced as early as Friday. The enquiry is being held at the Jamaica...

KINGSTON — The Development Bank of Jamaica (DBJ) has disbursed just under $1.2 billion in concessionary loans to finance a wide range of projects within the local productive sectors, during the period April 2010 to March 2011. General Manager for the DBJ’s AFI Relationships Division, Yvonne Lewars, tells JIS News that the sum came from a $2.5 billion facility comprised...

Minister without Portfolio with responsibility for the Public Service, Senator Arthur Williams, says that the Police Federation has today, formally accepted the Government’s offer to settle the 7% wage issue. This now means that all public sector groups have accepted the Government’s offer to settle the outstanding wage issue.  Minister Williams expressed his thanks to the public sector workers for...