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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...

MANDEVILLE — Minister of Finance and the Public Service, Hon. Audley Shaw, says that the Government has made the best possible wage offer to public sector workers, noting that the administration can do no more in light of fiscal constraints. He was speaking on June 28 at the Annual General Meeting of the National People’s Co-operative Bank held at the...

KINGSTON — The draft code of conduct governing the delivery of banking services in Jamaica has now been completed. If embraced by the country’s bankers association, the code will make Jamaica the first CARICOM nation to have its banking sector guided by such a policy. The development of the code is part of the ‘Promotion of Consumer Protection in the...

Jamaica’s Ambassador to the United States, Her Excellency Audrey Marks, has commended the Victoria Mutual Building Society (VMBS) for maintaining a very strong relationship with Jamaican communities in the Diaspora over the past 30 years. According to the Ambassador, “VMBS has maintained very strong relationships with Jamaican communities, churches and entities in the Diaspora, and has provided an avenue for...

KINGSTON — Signing of an agreement between the Ministry of Finance and the Public Service and unions representing Government workers has been postponed. The agreement was scheduled to be signed Friday (June 24) at Jamaica House, but Prime Minister Bruce Golding, who returned from a one week vacation Thursday (June 22), has advised that the signing has been deferred. He...

KINGSTON — The FINSAC Commission of Enquiry has rejected the request for the appearance of former Prime Minister, the Most Hon P.J. Patterson, but has written former Minister of Water and Housing, Dr. Karl Blythe, asking his participation. Both requests were made by attorney Anthony Levy, who represents Thermo Plastics Jamaica Limited/Plas Pak former managing director, Jean Michael Desulme. Chairman...