Business

VIDEO: Medical ganja company targets $4b in revenue by 2019; eyes IPO by 1Q next year

‘The magnificent seven’, as the first line of products are called, was designed to
help with the ‘pain management of some 84 ailments. (PHOTO: KARL MCLARTY)

LOCAL medical marijuana company, Medicanja Limited, expects to generate approximately $4 billion in sales within four years. "Revenue from the sales and services of over 18 products that we have planned from Medicanja limited, including six product lines, will be in excess of $4 billion," said the ... Read More

Glen Christian (right), the 2014 Private Sector Hall of
Fame inductee, receives a citation from Private
Sector Organisation of Jamaica President Chris
Zacca. (PHOTO: GARFIELD ROBINSON) 2014 Private Sector Hall of Famer urges more reform
THE 2014 Private Sector Hall of Fame recipient Dr Glenford Christian urged Government to continue to ... Read More

John Mahfood
stands in front of
Jamaican Teas’
22,000 square foot
factory, warehouse
and office at 2 Bell
Road in Kingston.
(PHOTOS: GARFIELD
ROBINSON) JOHN MAHFOOD: Long-term preparation key to listing
JOHN Mahfood and his father Adeeb placed Jamaican Teas in public listing mode the moment they acquir ... Read More

'Buy more shares', says Red Stripe chairman
"BUY more shares," is the advice to shareholders coming from Red Stripe chairman, Richard Byles. T ... Read More

Zacca wants more improvement to small credit access

Friday, October 31, 2014    

Zacca

SMALL sector access to credit is still inadequate despite the island's record jump to most competitive nation within the Caribbean, reasoned Chris Zacca, president of the Private Sector Organisation of Jamaica (PSOJ). He called on Government to strive to place the island within the top 10 of the Doing Business Report, led by Singapore. "We at the PSOJ really hope that this positive move will not simply be trumpeted by the politicians and officials as a job well done, but that it also will be u ... Read More

Ja's jump in Doing Business report highest in LAC

BY KEITH COLLISTER | Friday, October 31, 2014    

PHILLIPS... we are encouraged
by Jamaica’s new global
competitiveness standing
which highlights that we are
open for business.

LATE Tuesday evening, the World Bank issued its famous Doing Business report in Washington. There appeared to be genuine excitement amongst the representatives of the multilaterals here, as the report advised that Jamaica had the Caribbean's highest ranking on the ease of doing business: 58 out of 189 economies worldwide, a jump of 27 from the 85 ranking last year, the sharpest improvement in the Latin American and Caribbean region. For the purposes of measurement by the report, the Caribbean re ... Read More

CB eyes cassava leaves, sticks for animal feed

KARENA BENNETT Business reporter bennettk@jamaicaobserver.com | Friday, October 31, 2014    

AMIEL...we could use about 10 per cent of the product in poultry feeds and up
to 30 per cent in ruminant rations

Poultry processor, Caribbean Broilers (CB), is considering the use of cassava leaves and stick portions in the production of animal feeds. The company is now in discussions with local brewing company, Red Stripe, which recently established a 36-acre cassava farm at Bernard Lodge, St Catherine. The deal could result in significant cost savings and profitability for both companies, as well as increased employment opportunites for local farmers. "We are talking and we'll see how it goes," Corp ... Read More

LIAT wants a smaller airline in 2015

Friday, October 31, 2014    

LIAT

ST JOHN'S, Antigua — THE cash-strapped regional airline, LIAT, Wednesday hinted at the possibility of layoffs in the coming months as it seeks to develop a "smaller airline in 2015". The airline, which is owned by the governments of Antigua and Barbuda, Dominica, St Vincent and the Grenadines, and Barbados, said it is about to embark on its annual budget-planning exercise and to put in place its operational plans for 2015. "As a result of the airline's fleet transition programme, LIAT wi ... Read More

New investment Bill to reform role of GIDC

Friday, October 31, 2014    

The World Bank headquarters in Washington. The multilateral agency has praised Grenada for its
efforts toward better fiscal governance and investment promotion. (PHOTO: AP)

ST GEORGE'S, Grenada — THE role of the Grenada Investment Development Corporation (GIDC) will be changed when legislators approve Grenada's new Investment Bill before the end of the year. "The Bill reflects a legal framework that encompasses best practice so as to ensure that all prospective and existing investors and public officers understand all aspects of the Investment Act, which is in compliance with Grenada's Constitution," said Kaisha Ince, a Commonwealth Secretariat legal expert. ... Read More

Haiti hopes to woo back tourists with resorts

Friday, October 31, 2014    

Haitian Tourism
Minister Stephanie
B Villedrouin sips
strong Haitian
coffee in front of a
freshly-painted
home where she
coached local
residents on how to
welcome tourists to
the fishing village of
Cotes-de-Fer, Haiti.
(Photo: AP)

COTES-DE-FER, Haiti — OFF this sleepy southern Haitian village, fishermen in weathered wooden boats slowly move across azure waters. Miles of picture-perfect sandy beaches slope gently, fringed by grasses and framed by mountains. In any other Caribbean country, such a pristine stretch of shore would have been developed long ago. But in Haiti, the poorest country in the Western Hemisphere, the tranquil Cotes-de-Fer area is mostly uninhabited, holding just a scattering of shacks lit by cand ... Read More

Oil prices drop despite strong US growth data

Thursday, October 30, 2014 3:47 PM    

NEW YORK (AFP) -- World oil prices fell back Thursday after two days of modest gains, as the market was not encouraged by a stronger-than-expected estimate of US economic growth in the third quarter. US benchmark West Texas Intermediate for December delivery lost US$1.08 to $81.12 a barrel. In London trading, Brent North Sea crude for delivery in December shed 88 cents to $86.24 a barrel. Prices remained slightly above the multi-year lows struck in mid-October. The market received no boost f ... Read More

Over 400 business owners for Brad Sugars seminars

Thursday, October 30, 2014    

Audrey Tugwell Henry (left), senior general manager for retail
banking of NCB, presents Marcia Woon Choy, certified business
coach of ActionCOACH Business Coaching, with the bank’s
cheque as sponsors for the ActionCOACH ‘Buying Customers’
networking expo and seminar scheduled for November 13. The
seminar will be conducted by celebrated chairman and founder
of ActionCOACH International, Brad Sugars.

MORE than 400 local business owners and leaders are set to benefit from interactions on November 13 and 14 with noted international business coach Brad Sugars, the chairman and founder of ActionCOACH International. The National Commercial Bank Jamaica Ltd (NCB) is sponsoring the participation of over 400 business owners at 'Buying Customers', a free seminar and networking Expo for pre-registered business owners at The Courtleigh Auditorium on November 13. On November 14, approximately 35 busi ... Read More

Hinduja expands business in Jamaica; other BPO operators secure more space

Wednesday, October 29, 2014    

Philadelphia-based Advanced Call Center Technologies (ACT) has leased 25,000
square feet of space at Barnett Tech Park in Montego Bay, to start operations
after construction of the offices is completed next month.

OUTSOURCING giant Hinduja Global Solutions has landed a contract to deliver voice-based customer care support by one of its largest healthcare clients out of its Jamaican operations. "This will lead to an addition of 200 full-time equivalent (FTE) worth of work to the already existing operation," said a statement issued by the company. Hinduja's call centre in Kingston currently employs 125 persons. It provides support to at least two major financial institutions in the country, including Nat ... Read More

Cassava beer by March

BY KARENA BENNETT Business reporter bennettk@jamaicaobserver.com | Wednesday, October 29, 2014    

Cassava beer
by March

LOCAL brewing company Red Stripe will be establishing its US$800,000 ($90.4 million) starch processing plant by January 2015. The facility will allow Red Stripe to make its flagship beer with at least five per cent cassava by next March. Ultimately, the local brewer wants to replace 20 per cent of its imported barley with locally grown cassava. The company has secured a lease contract for 250 acres of land at Wallen, St Catherine, that will bring its total farmland under production to 286 acr ... Read More



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