Business

Eppley targets $317 million with rights issue

Eppley Managing Director Nicholas Scott (File photo)

KINGSTON, Jamaica — On Tuesday May 3 boutique lender Eppley Limited announced a renounceable rights issue to existing ordinary stock unit holders of up to 487,703 new ordinary shares priced at $650 each. These will be made available to the shareholders on the record date for the rights issue ... Read More

A selection of Rainforest Seafoods products Rainforest Seafoods makes strategic shift to value-added products
Local seafood distributor Rainforest Seafoods is finalising regulatory requirements to begin exporta ... Read More

PUNTA GORDA, Florida — Wetlands restored around Babcock Ranch in Punta Gorda on Florida, April 22 as part of a plan to build the United States’ first eco-friendly town from the ground up.Photo: AFP Construction is bustling at Florida’s first ‘sustainable town’
PUNTA GORDA, United States (AFP) — With deep pockets and an environmentalist’s zeal, ret ... Read More

Steve Jobs, information technology entrepreneur and inventor, was the co-founder, chairman, and chief executive officer of Apple Inc. Who needs marketing research?
I guess the Marketing Department can be too good. Here’s one example: Last year I replaced al ... Read More

Jetcon eyes security force car contract

BY AVIA COLLINDER Business reporter collindera@jamaicaobserver.com | Sunday, May 01, 2016    

Police cars at the Police Commissioner’s Office in Kingston

Jetcon Corporation Ltd, one of the newest members of the Junior Market on the Jamaica Stock Exchange (JSE), says it is eyeing the contract to supply the security services with used vehicles being considered by Government of Jamaica. “We note Government’s announced decision to use pre-owned vehicles in the security service, and we look forward to the opportunity of bidding for the contract,” Chairman John Jackson and Managing Director Andrew Jackson said in their first first-qu ... Read More

Turning point for energy security in the Caribbean

JORGE FAMILIAR | Sunday, May 01, 2016    

The wind farm at Wigton, in St Elizabeth

Caribbean countries have quietly started a green revolution and are now leading the way for other small island developing states in the global effort to limit the rise of global temperature to 1.5 degrees Celsius. While challenges remain, five months after the historic climate agreement in Paris, they remain committed to saving energy and investing in renewables. Some may argue that at a time when oil prices are low, there are incentives to slow this effort down. But, on the contrary, this is t ... Read More

WIHCON in the diaspora

Sunday, May 01, 2016    

Aisha Campbell, general manager of WIHCON (centre) and Robert Taylor, attorney & WIHCON board director (right), join Ralph Thomas, Ambassador to Jamaica (left), in front of the Jamaican Embassy in Washington, DC. WIHCON paid a courtesy call after their successful event held in DC last month. The stop was their first one in the USA after Canada and is a part of their “Coming Home To You” Tour aimed at the diaspora.

Aisha Campbell, general manager of WIHCON (centre) and Robert Taylor, attorney & WIHCON board director (right), join Ralph Thomas, Ambassador to Jamaica (left), in front of the Jamaican Embassy in Washington, DC. WIHCON paid a courtesy call after their successful event held in DC last month. The stop was their first one in the USA after Canada and is a part of their “Coming Home To You” Tour aimed at the diaspora. Read More

Swiss Stores gives up its luxury brand Rolex

BY RICHARD BROWNE Business editor browner@jamaicaobserver.com | Sunday, May 01, 2016    

Swiss Stores on Harbour Street in downtown Kingston

After more than 80 years of being the sole agent for Rolex watches in Jamaica, Swiss Stores has given up the agency, and starts a new phase in its business development as of today. “We have decided after 80 years to give up the Rolex agency effective the end of April,” Managing Director of Swiss Stores Ueli Bangerter told the Jamaica Observer on Friday. “It is our decision.” The company will continue to sell jewellery and certified previously owned Rolexes from its 107 ... Read More

NCB credit card woes

BY CLAUDIENNE EDWARDS Observer writer edwardsc@jamaicaobserver.com | Sunday, May 01, 2016    

An ATM in use

Dear Claudienne, On August 3, 2015, while I was attempting to pay the last portion of my credit card bill of $10,000 at an NCB ABM machine at the Cross Roads branch, my credit card and the $10,000 cash was grabbed (confiscated) by the ABM machine. Before I left the branch, the security guard advised me to report it immediately through the phone in the branch. I reported it through the branch phone and an agent gave me two case numbers. The agent told me to check my account in two hours t ... Read More

Strategies for investing in bonds

With Eugene Stanley | Sunday, May 01, 2016    

KUWAIT CITY, Kuwait — Kuwaiti traders follow the stock market at the Kuwait Stock Exchange (KSE) in Kuwait CityPhoto: AFP

An investor’s decision to buy a particular bond or series of bonds is typically dependent on an assessment of one’s investment goal, time horizon and the amount of risk that one is willing to take. Your length of time and risk tolerance metrics will ultimately guide the type of strategy you wish to employ to achieve your investment goal or objective. The investor, for instance, whose investment goal is one of capital growth and has an investment horizon of, say, 20 years — t ... Read More

KPREIT buys three new Miami condos

BY AVIA COLLINDER Business reporter collindera@jamaicaobserver.com | Sunday, May 01, 2016    

A view of the Opera Tower in Miami, Florida

Kingston Properties Limited (KPREIT) announced on Friday that it has closed on the acquisition of three condo units at Opera Tower in the downtown Miami area as part of the 1031 Exchange programme in the US. The 1031 Exchange programme allows property owners to defer capital gains tax when the registered property is sold. The acquisition now brings the total number of residential units held by KPREIT to 27. The company also said in a notice placed through the Jamaica Stock Exchange (JSE) tha ... Read More

NCB profit hits J$6 billion at the six-month mark

BY AVIA COLLINDER Business reporter collindera@jamaicaobserver.com | Friday, April 29, 2016    

The NCB Atrium on Trafalgar Road in New Kingston

The commercial banking portfolio of the National Commercial Bank Jamaica Limited (NCBJ) led profit for the finance house for the six months ended March 31, 2016 which totalled J$6 billion for all segments. Overall, for the period ended March 31, 2016 net profit saw an increase of $594 million to the $6-billion mark or 11 per cent compared with the six months ended March 31, 2015. For the last quarter, the three months ended March 31, 2016 net profit was $3.6 billion,an increase of 10.2 per ce ... Read More

Jamaica one of the top 20 riskiest nations

BY RICHARD BROWNE Business editor browner@jamaicaobserver.com | Friday, April 29, 2016    

Mandeville was flooded earlier this week.

Haiti may have recently suffered a terrible earthquake and an outbreak of cholera, but it is Jamaica that is ranked as the country with the highest risk of natural disaster in the Caribbean — and ranks as 20th in the world, according to the recently published World Risk Report 2015. But Haiti is not far behind — ranked second in the Caribbean and 21st in the world. Neighbouring Dominican Republic, which shares the island of Hispaniola with Haiti, is ranked 25th. Guyana in South Ame ... Read More

Manufacturers should prove T&T subsidies are unfair

BY AVIA COLLINDER Business reporter collindera@jamaicaobserver.com | Friday, April 29, 2016    

Trinidadian goods are popular on Jamaican supermarket shelves, such as these at HiLo in Manor Park, Kingston

The Anti-Dumping and Subsidies Commission (ADC) said Wednesday that it is encouraging local manufacturers who have concerns about subsidisation by Trinidad & Tobago of its manufacturers to file a complaint for investigation. Cases, however, must be specific and provable, the Commission said. The Commission is the portfolio agency of the Ministry of Industry, Commerce, Agriculture and Fisheries charged with Jamaica’s implementation of the WTO Agreements on Dumping, on Subsidies and C ... Read More



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