Logistics hub necessary but not sufficient, PIOJ

BULLOCK...Those large
projects are not enough
because not everybody is
going to get a job.

MONTEGO BAY, St James — Director General of the Planning Institute of Jamaica (PIOJ) Colin Bullock is cautioning that even though the logistics hub and other mega projects of that nature are important, they are still not enough for sustained economic growth.  "They (major projects) are n ... Read More

Sharon Smith, consultant
with responsibility for
the JN Individual
Retirement Scheme at
the Jamaica National
Building Society (PHOTO
COURTESY OF JNBS) ‘Educate children about pension plans’
IT never crossed her mind that she would have been a widow at age 32. They were young and their sm ... Read More

Dr Peter Phillips Finance minister leaves for Washington today
Finance and Planning Minister Dr Peter Phillips leaves the island today for Washington to engage in ... Read More

Popular US/Jamaican food chain Golden Krust sues rival over name
NEW YORK, (CMC) – The owners of the popular Golden Krust food chain in the US have filed a law ... Read More

Caribbean Flavours goes after more exports

Sunday, August 31, 2014    


CARIBBEAN Flavours and Fragrances (CFF) expects to secure two new export projects this financial year. "Decisions on these may be made in the second quarter of this financial year," wrote Anand James, managing director in an emailed response to Jamaica Observer queries. The value of the projects are yet to be disclosed. "I cannot quantify," he said. The company made $50 million in net profit on $255 million in sales for its year ending June 30. Earnings were 24 per cent higher than the year b ... Read More

Facebook still poking its way to higher levels

Kevin Richards | Sunday, August 31, 2014    

Facebook still poking its way to higher levels

IT has been just over two years since one of the most anticipated initial public offerings in the post- financial crisis period came to market -- Facebook. Most analysts were sceptical of Facebook's earning prospects for a variety of reasons. The consumers' swift shift in focus away from desktops and laptops and their new obsession with mobile phones and tablets was one such reason. Many felt that Facebook's success in generating revenue from online advertising was a result of the utilisation ... Read More

German economic fears growing but Merkel strong

Sunday, August 31, 2014    

German Chancellor Angela
Merkel. (PHOTOS: AP)

BERLIN, Germany - Ordinary Germans are spooked about the future. Businesses are starting to see black clouds on the horizon. And an economy that has been the envy of Europe is showing cracks, shrinking unexpectedly last quarter amid the conflict in Ukraine. It might seem like enough to put any leader into trouble. But Chancellor Angela Merkel's popularity remains sky-high -- with nobody in sight to touch her. It shows the German public is prepared to endure some hardships -- such as a rise in ... Read More

Eye doctor not registered? You might not get insurance to pay for your glasses

BY CLAUDIENNE EDWARDS Observer writer | Sunday, August 31, 2014    

Dear Claudienne I am writing to you on behalf of my wife. On June 4, 2014, I accompanied my wife to an ophthalmologist in Portmore to have her eyes checked. The doctor recommended that her glasses be replaced and charged a fee of $21,500. The payment was made with a credit card and thereafter the requisite Sagicor Optical claim form was completed and the receipt attached for submission to Sagicor for reimbursement. On June 6 my wife and I went to Sagicor and submitted the claim. On July 8, ... Read More

Biomedical expanding

BY KARENA BENNETT Business reporter | Sunday, August 31, 2014    

Biomedical Caledonia Medical Laboratory on Caledonia Avenue, Kingston

BIOMEDICAL Caledonia Medical Laboratory has added six collection centres to its network over the last 14 months. This brings the total number of locations used to collect blood and other samples of human body fluids to 45. What's more, the company is opening up at least six more centres in order to have a collection point in every parish. Biomedical is now in eight parishes — Kingston, St Andrew, St Catherine, Clarendon, Manchester, St James, St Thomas and St Ann. The testing facility h ... Read More

As stocks rise, so does anxiety: Time to get out?

Sunday, August 31, 2014    

A trader on the floor of the New York Stock Exchange.

NEW YORK, USA - Is it time to cash out of stocks? The market has nearly tripled in a little over five years, and with each record close, the temptation grows to take your winnings and flee. If only you had done that in the crashes that began in 2000 and 2008, you might be a lot richer. Plenty of experts think stocks are about to drop. But many others offer compelling arguments for the rally to continue for years. The bulls point to a strengthening US economy that will help companies generate ... Read More

Chinese e-commerce rivals challenge Alibaba

Sunday, August 31, 2014    

Chinese e-commerce rivals challenge Alibaba

BEIJING, China - China's biggest property developer, Wanda Group, and Internet giants Baidu and Tencent unveiled a new e-commerce venture Friday in a challenge to industry leader Alibaba Group ahead of its US stock offering. The three companies said they will integrate online and offline selling, with e-commerce services in Wanda's 107 shopping malls, as well as its hotels and resorts. They said they would invest five billion yuan (US$814 million) to start. The venture adds to competition for ... Read More

India grows by 5.7%

Sunday, August 31, 2014    

NEW DELHI, India - India said Friday its economy grew by 5.7 per cent in the first financial quarter, its fastest pace in over two years, as the election of a new right-wing government spurred business confidence. The strong expansion in the three months to June beat a consensus market forecast of 5.5-per cent growth and marked the clearest sign yet that Asia's third-largest economy is accelerating out of a long slowdown, economists said. "The economy has bottomed out — this really affir ... Read More

Caribbean records increase in tourist arrivals

Friday, August 29, 2014 12:10 PM    

BRIDGETOWN, Barbados (CMC) -- The Caribbean recorded a rise in visitor arrivals during the first half of this year, keeping pace with the world average, according to figures released by the Barbados-based Caribbean Tourism Organization (CTO). It said the region enjoyed a 4.3 per cent increase during the first six months of the 2014, much in line with the world average of 4.7 per cent. Read More

Rio Minho sand miners face joblessness

BY KARENA BENNETT Business reporter | Friday, August 29, 2014    

Sand mining activities

SAND miners along the Rio Minho River in Clarendon may soon be left without a livelihood. Their operations were shut down last week by the Mines and Geology Division (MGD). A change in rainfall patterns compounded by the ongoing drought, was hurting production in the area, where the amount of sand mined fell by up to 40 per cent since the start of the year. It's also the reason the MGD suspended operations there -- to stop the depletion of the resource and to give the river enough time to acc ... Read More



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