NCB dives deep in regional insurance market through Guardian Holdings acquisition

The NCB Atrium on Trafalgar Road in New Kingston.

THE almost one-third stake to be acquired by National Commercial Bank Jamaica Limited (NCB) in Guardian Holdings will give it controlling interest in a regional company with total assets of TT$23.08 billion (TT$1 = US$0.16) and with a diversified footprint in insurance and finance markets spanning ... Read More

Brian George (left), president and CEO of Supreme Ventures and
Gary Peart, chairman of the BGLC, in the Jamaica Observer
boardroom on Monday. Style runs supreme at upcoming Diamond Mile
A trip to Melbourne, Australia to view the famous Flemington Race Course inspired Caymanas Track man ... Read More

Lucea Mayor
Haughton OCG's response to DPP highlights lack of action against corruption
CONTRACTOR General Dirk Harrison wants Jamaica to address the lack of prosecutions by the Office of ... Read More

ScotiaGroup President and CEO Jacqueline Sharp (centre) addresses editors and reporters at the Jamaica Observer Monday
Exchange held at the newspaper’s Beechwood Avenue location earlier this week. Looking on is Vice President of Business Analytics,
Strategy and Risk Management, Adrian Stokes (left); Executive Vice President of Retail Banking, Patsy Latchman Atterbury; Senior
Vice President of Corporate and Commercial Banking, Craig Mair; Vice President of Marketing for Caribbean Central, Yanique Forbes
Patrick and Vice President for Small and Medium-sized Enterprises, Debra Lopez Spence. (PHOTO: NAPTHALI JUNIOR) Scotiabank ups its card security
SCOTIABANK Jamaica has supplied more than 70 per cent of its merchants with a new security technolog ... Read More

Shaw says JLP has no quarrel with private sector/civil society requests

BY BALFORD HENRY Senior staff reporter | Wednesday, December 02, 2015    

SHAW... the JLP introduced the Fiscal Responsibility Framework into Parliament
and had it passed it into law.

OPPOSITION spokesman on finance and planning, Audley Shaw, says he has no quarrel with calls from the private sector/civil society groups for price stability to sustain Jamaica's economic gains. Speaking at Jamaica Labour Party's (JLP) mass rally in Richmond, St Mary on Sunday, Shaw said that whenever the JLP forms the government, it has always believed in the private sector as the primary engine of economic growth. "We don't have no quarrel with the private sector, because a Labour Party gov ... Read More

Does your investment match your risk tolerance?

Wednesday, December 02, 2015    

NEW YORK, United States — Traders work on the floor of the New
York Stock Exchange on Monday in New York City. (PHOTO: AFP)

TO build wealth over time, an investor needs to accept a certain degree of risk. By taking on very little risk, and keeping the bulk of your wealth in a savings account, you will lose purchasing power over time. As such are you are already subject to inflation risk. The key to managing risk is to first understand the different types of risks associated with various investments. Secondly, it is important to balance your exposure based on your personal level of risk tolerance, financial objective ... Read More

Puerto Rico's governor issues "distress call" to Congress

Wednesday, December 02, 2015    

A view of San Juan ,
Puerto Rico.

WASHINGTON, United States (AP) -- Puerto Rico's governor issued a "distress call" to Congress to help his heavily-indebted government while signaling he will re-route money to make a bond payment that came due yesterday. Governor Alejandro Garcia Padilla reiterated his plea to Congress to create a legal framework that would give the territory the authority to restructure its liabilities. He said, after the Senate Judiciary Committee hearing ,that his administration will "do our best" to make a ... Read More

Canada exits recession with 2.3 per cent growth in Q3

Wednesday, December 02, 2015    

A view of Toronto

OTTAWA, Canada (AFP) -- Canada exited recession in the third quarter as its economy bounced back from a plunge in oil prices, official data showed yesterday, in a boost for Prime Minister Justin Trudeau's new government. The economy expanded at an annualised rate of 2.3 per cent in the three months ending September 30 following two slightly negative quarters, which were revised up to -0.7 and -0.3 per cent. Analysts had hoped for slightly stronger growth, but the performance outpaced that of t ... Read More

New Commonwealth trade study says look to Asia

BY AVIA COLLINDER Business reporter | Wednesday, December 02, 2015    

Queen Elizabeth (front second right) sits with participating Commonwealth heads of government during the 2015 Commonwealth Heads of Government meeting in
Malta which ended on Sunday. (PHOTO: THE DAILY NEWS)

COMMONWEALTH Trade Review 2015, a new report commissioned by the Commonwealth Secretariat, asserts that bilateral trade costs between Commonwealth countries are on average around a fifth lower than between other trading partners. The review which advises that member countries should seek to take advantage, also projects that intra-Commonwealth trade (including goods and services) will rise to US$2.75 trillion by 2030. Asia is expected to provide opportunities for those seeking future trade expa ... Read More

Chinese investors buy 13% stake in Man City group for $400m

Wednesday, December 02, 2015    

LONDON, United Kingdom (AFP) -- China planted its flag in the English Premier League yesterday as a consortium of Chinese investors bought a 13 per cent stake in Manchester City's parent company for US$400 million (377 million euros). China Media Capital (CMC) and CITIC Capital have purchased the stake in City Football Group (CFG), which had previously been wholly owned by the Abu Dhabi United Group (ADUG), just weeks after Chinese President Xi Jinping visited Manchester City. The deal, which ... Read More

Mugabe welcomes rare VIP visitor as China’s Xi arrives

Wednesday, December 02, 2015    

HARARE, Zimbabwe — China
has offered to fund a new
parliament building to replace
Zimbabwe’s current one.

HARARE, Zimbabwe (AFP) -- China's President Xi Jinping visited Zimbabwe yesterday on a rare trip by a world leader to a country shunned by Western powers over President Robert Mugabe's widely-criticised record on human rights. Xi was greeted at the airport by Mugabe, 91, who has ruled since independence in 1980, as hundreds of children waved Chinese and Zimbabwean flags along the road into the capital Harare. The two leaders held talks and oversaw the signing by their ministers of 10 agreement ... Read More

Despite challenges Scotiabank expects continued growth for 2016

BY JOSIMAR SCOTT Observer writer | Tuesday, December 01, 2015    

Scotiabank's President and CEO Jacqueline Sharp makes a point
as Senior Vice President Craig Mair listens during the Monday

WITH another financial year having been completed on October 31, 2015, Scotiabank's President and CEO Jacqueline Sharp believes that despite the challenges presented by the restructuring of the financial industry, the group will continue to grow in the upcoming year. "It's been a very, very challenging year, but also a very good year in terms of achievements against our strategic priorities," Sharp said, speaking at this week's Jamaica Observer Monday Exchange, held at the newspaper's headquart ... Read More

Honey Bun to go buccaneering in Europe, Latin America

BY AVIA COLLINDER Business reporter | Tuesday, December 01, 2015    

Honey Bun hopes to get a bigger
slice from the rum cake market

EYEING new hard currency markets, Honey Bun is seeking to build a beachhead with signature product lines, including its Easter buns and Buccaneer rum cake, in new territory abroad. Company Marketing Executive Janelle Brown said on Monday that the confectionery and bakery was specifically interested in Latin America and Europe, noting that the company hoped to double total exports in 2016. Honey Bun is also seeking to expand sales in Canada. The current level of exports was not shared, but the ... Read More

Johnson appointed to the board of international cocoa body

BY RICHARD BROWNE Business editor HUGH Johnson is now a member of the governing board for the International Cocoa Farmers Organisation (ICCFO) effective September, according to a news release from the Jamaica Cocoa Farmers' Association (JCFA), Johnson is the regional representative for the Caribbean and will hold the position for four years. | Tuesday, December 01, 2015    

(L) Samantha Morris
(R) Garfene Grandison

HUGH Johnson is now a member of the governing board for the International Cocoa Farmers Organisation (ICCFO) effective September, according to a news release from the Jamaica Cocoa Farmers' Association (JCFA), Johnson is the regional representative for the Caribbean and will hold the position for four years. The ICCFO, which was established by farmers from cocoa-producing countries around the world, represents some 600,000 cocoa farmers and cocoa workers. Johnson is a member of the JCFA, which ... Read More



Should the Government implement a tax to finance the health sector?

View Results »


Today's Cartoon

Click image to view full size editorial cartoon