Livern Barrett, Parliamentary Reporter The National Water Commission (NWC) is reporting that it is unable to pay pension liabilities totalling $19.5 billion. As a result, President of the NWC, Mark Barnett, who made the disclosure today, says the utility company is now undertaking "comprehensive" pension reforms. And he warned that
A group of regional union leaders, led by Jamaica's Bustamante Industrial Trade Union (BITU), vowed yesterday to challenge Scotiabank's transitional programme across the region. Six visiting trade unionists, who arrived in Jamaica over the weekend to join the BITU's response to Scotiabank's plans to transition three local service units to
OTTAWA, Canada (CMC) — The Bank of Nova Scotia yesterday confirmed that it would be selling its insurance operations in Jamaica and Trinidad and Tobago as part of a shake-up of its businesses that also included plans to exit nine Caribbean countries. However, late yesterday evening news emerged from Antigua
The Trinidad & Tobago Securities and Exchange Commission, TTSEC, has fined Guardian Holdings Limited, GHL, TT$300,000, but while the alleged offence has some bearing on the takeover offer for the insurance conglomerate, the regulator has not disclosed the precise charge. Guardian will pay the fine but has made no admission
Published:Wednesday | November 28, 2018 | 12:00 AM Canadian investment firm Alignvest will acquire regional insurance giant Sagicor Financial Corporation (SFC) at a "substantial discount" relative to its estimated value of both SFC and its rivals, the company announced in Canada. It will pay US$536 million, or US$1.75 per share,
Pension funds could be the conduit for about $25 billion of venture capital financing, but while the Jamaican Government is laying the groundwork for this to happen, it's a more risky bet that traditionally conservative fund managers acknowledge that they need to manage with care. And at least one industry
The acquisition of regional financial conglomerate Sagicor Financial Corporation Limited (SFC) by Canadian private-equity firm Alignvest will not affect shareholders of the Jamaican subsidiary, says president and CEO of Sagicor Group Jamaica Limited Christopher Zacca. "The transaction is between Sagicor Financial Corp and Alignvest. SFC owns 49.1 per cent
Sagicor Financial Corporation Limited has agreed to a US$536 million takeover by Alignvest, a leading Canadian alternative investment management firm. In a release issued on Tuesday morning, Sagicor said that it has entered into a definitive arrangement agreement with Alignvest Acquisition II Corporation pursuant to which Alignvest will acquire all the shares of
OTTAWA, Canada (CMC) – The Bank of Nova Scotia Tuesday confirmed that it would be selling its insurance operations in Jamaica and Trinidad and Tobago as part of a shake-up of its businesses that also included plans to exit nine Caribbean countries. The bank, which has operated in the Caribbean
With hundreds of motor vehicle crashes reported annually, inclusive of motorcycle crashes in Westmoreland, the parish has built a reputation for being a hotspot for trauma. Last Thursday's Taking Responsibility Road Tour visited the parish to discuss how to prevent these incidents and the benefits of proper safety gear. During
