The ratings agency Moody’s downgraded Greece to the lowest rating on its bond scale late Friday, following a deal with private investors that would see them ultimately lose an estimated 70 per cent of their holdings in Greek debt.
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The Jamaican economy grew by 1.7 per cent during the last quarter of last year, representing the first growth in the gross domestic product (GDP) since 2007.
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The T&T Chamber of Industry and Commerce has called for an end to the strike action outside the Trinidad Cement Ltd and for the company and the Oilfield Workers Trade Union (OWTU) to return to the bargaining table.
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Banks dodged a big hit from the Greek debt crisis and rallied yesterday to lead the stock market higher. Strong retail sales and more encouraging news about the US job market also helped stocks rise.
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Overall Market activity resulted from trading in 14 securities of which three advanced, five declined and six traded firm.
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The Central Bank’s guideline regarding the new mortgage market reference rate (MMRR) for March 2012 is now 3.25 per cent.
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Overall market activity resulted from trading in 12 securities, of which four advanced, one declined and seven traded firm.
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Jamaica is poised for major development in the tourism and energy sectors, with plans advanced for several projects to be undertaken over the short-term.
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Brazilian energy giant Petroleo Brasileiro SA, or Petrobras, announced last Friday that it has found light oil in deep waters off the nation’s coast in a block jointly exploited with foreign firms.
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Iran is to accept gold instead of dollars as payment for its oil, the country’s state news agency has said.
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