AGP Executive Report
Last update: 4 hours agoTourism Recovery: Jamaica’s airports handled 384,300 passengers in October, up 0.6% year on year, but Sangster traffic remains down 23.9% for the first 10 months, underscoring the scale of the recovery still needed. Corporate Results: Pulse Investments’ $720-million fourth-quarter loss erased nine-month profits and left it with a $349-million full-year loss; the company plans to sell villas to reduce bond debt. Business and Transport: Government is working to ease roadwork delays between Montego Bay and Negril before winter, after businesses and tourism operators warned congestion is disrupting work and travel. Finance: Butterfield has filed regulatory applications for its US$1.8-billion CIBC Caribbean acquisition, which would bring the bank into Jamaica. Business groups, meanwhile, oppose renewed plans to merge EXIM Bank and DBJ, saying it could weaken financing options for small firms. Investment and Regulation: Government is open to a REIT law, but says tax incentives must pay for themselves. The Fair Trading Commission will consult rum producers on the costs of requiring Jamaica Rum to be aged locally. Expansion: Mailpac has raised $840 million as it pursues acquisition opportunities in Jamaica and the region.
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