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(Interational News): Weak economy pushes jobless claims to 7-year high
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Thursday, October 02, 2008
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WASHINGTON (AP) -- New applications for unemployment benefits rose slightly last week to a seven-year high due to a weakening economy and the impact of Hurricanes Ike and Gustav, the Labor Department said Thursday.
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(International News):European Central Bank holds rates steady
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Thursday, October 02, 2008
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FRANKFURT, Germany (AP) -- The European Central Bank left its key interest rate unchanged Thursday amid concerns over inflation but explored the option of lowering the rate as the financial crisis increasingly affects the continent.
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(International News):Senate approves $700 billion financial rescue plan
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Thursday, October 02, 2008
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WASHINGTON (MarketWatch) -- The Senate approved a revised $700 billion U.S. plan to stabilize the financial industry and kick-start credit on Wednesday night, just two days after the House defied President Bush and leaders of both political parties to reject the original package.
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Mayberry and NCB Capital Markets advises of exposure
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Wednesday, October 01, 2008
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Kingston (Jamaica Stock Exchange)-- NCB Capital Markets has advised that the current value of the Government of Jamaica (GOJ) assets used to back borrowing is US$42.72 million. There were also some GOJ assets held totaling US$5.05 million which were not backing any borrowings. Consequently, the net current exposure is US$19.93 million (J$1,443 million). The net exposure represents approximately 2.10 % of total assets at August 31, 2008. The Company is in the process of making claims for the return of its GOJ assets, and expect GOJ assets valued at US$5.05 million to be returned on September 29, 2008.
Mayberry Investments Limited has also advised that the current holding in foreign currency assets is US$189 million. The company does not project any material losses or impairment of capital arising from its foreign currency holdings, at this time.
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Standard & Poor"s Revises National Commercial Bank Rating
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Wednesday, October 01, 2008
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The world"s leading rating agency, Standard & Poor"s (S&P), has revised its rating of Jamaica"s second largest commercial bank, National Commercial Bank (NCB), from "stable" to "negative", even as it commended the bank for creditable performances in successive quarters in a challenging economy.
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Press Release: Cabinet Approves Junior Stock Market
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Wednesday, October 01, 2008
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Senator the Honourable Don Wehby, Minister without Portfolio in the Ministry of Finance and the Public Service, today, announced that Cabinet has approved the implementation of the Jamaica Stock Exchange Junior Market, an initiative that will be done in conjunction with the Jamaica Stock Exchange.
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