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Caricel Now Forced To Play Catch Up…..David Butler

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Digicel Jamaica last Thursday (June 9) launched the country’s first LTE Network aimed at providing customers with ‘innovation that delivers record-breaking performance’. According to Digicel Jamaica CEO, this move followed a $6-billion investment by Digicel ahead of ‘imminent competition’.

This competition came in the form of Caricel, the newest player in the local mobile telecommunications sector, who had indicated its intent to roll out Jamaica’s first official LTE Network. Butler says while this decision was made independent of Caricel’s announcement, he also expects that the newest competitor will be forced to play catch up ‘as it will take time to build out a network’. He says Digicel’s build-out of its LTE platform has been around two years in the making, starting with the acquisition of a special spectrum band in 2014 and then the subsequent investment in technology.

Butler says the newly launched network will feed customers in Kingston and Montego Bay however plans are in place for the network to be rolled out nationally.

Speed tests carried out at the launch last Thursday show download speeds hitting 60 megabits per second (mbps) compared to the existing 10-13 mbps on its existing 4G network. Butler says while this only represents a fivefold increase, the network can deliver up to 100 mpbs, or ten times its current performance.

“This is the news Jamaica has been waiting for’ Butler said, “We’re focused on always delivering the most advanced mobile network technology that fits our customers’ lifestyle and budget. The activation of our LTE network is a major step in this direction”.

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John Mahfood “I Listed on the JSE to Raise Capital for My Business”

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JSE Online Trading Platform

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Grace Stockholders To Vote On 3-for-1 Stock Split Today

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Shareholders of GraceKennedy Limited will this morning meet to consider and, if thought fit, approve a recommendation for a three-for-one stock split.

If approved, shareholders will receive three stocks for each one that is currently held.

According to group CEO Don Wehby, the stock units with a market price of J$115.00 per stock unit prior to the split will now increase threefold with an initial price of J$38.33 per stock unit

He says the stock split would allow GK’s stock to be made available to more investors while further enhancing the market for the shares.

Ahead of this morning’s Extraordinary General Meeting, GK last week issued 59,360 additional GK shares.

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UK Loses S&P Triple A Rating

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The UK has lost its top AAA credit rating from ratings agency S&P following the country’s vote to leave the EU.

S&P says the referendum result could lead to “a deterioration of the UK’s economic performance, including its large financial services sector”.

Earlier the pound plunged to a 31-year low against the dollar, and UK markets closed lower for a second day. On Friday,

Moody’s cut the UK’s credit rating outlook to negative.

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Caribbean Hotels Named In Jetsetters’ 2016 Best Of The Best

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Three Caribbean hotels have been named in US-based travel and lifestyle magazine Jetsetter’s 2016 Best of the Best awards.

The list which was published recently, highlighted the world’s 20 best hotels in categories ranging from Best Over-The-Top Luxury to Best Safari Lodge.

Included in the list were Antigua and Barbuda’s Barbuda Belle Luxury Beach Hotel, Anguilla’s Zemi Beach House Resort & Spa, and St Lucia’s BodyHoliday.

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