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JNBS announces reduced Mortgage rate

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Jamaicans residing here and abroad are set to benefit from Jamaica National Building Society’s (JNBS) decision to reduce mortgage rates to 8.5 per cent.

The move comes ahead of the Bank’s plan to fully convert to a commercial by the next financial year.

According to the company’s Mortgage Sales Executive, Tiffany Gordon, the offer spans across the five JNBS mortgage product lines with a maximum of $20 million.

She says these product lines include Home Purchases, Construction Loans, Refinance Loans, Equity Loans and Home Improvement Loans.

Gordon says this new low rate is expected to inject what she describes as a much welcomed energy, especially for first time mortgage applicants.

She says “Jamaica National continues to place prime emphasis on providing homeownership opportunities for Jamaicans, both here and overseas, and by extension, to ensure that our members get to experience value in our offerings, not only in our payment terms but also through additional discounts on services across the JN Group”.

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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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