Business

Shaw promises new regulatory environment for micro credit companies

Minister of Finance Audley Shaw addressing last Tuesday's bi-annual microfinance leadership forum, staged by the Jamaica Microfinancing Association at Hotel Four Seasons in Kingston.

MINISTER of Finance and the Public Service Audley Shaw says that the Government is in the process of creating a new regulatory environment for the microfinancing sector. He said that currently the process involves the reviewing of the most recent revisions to long-delayed draft of the Bill, which w ... Read More

From left: Radcliff Knibbs, Chairman Paramount Jamaica, Hugh Graham, Managing Director, Audley Shaw, Minister of Finance, Barbara Kudis, Vice-President Allegheny Petroleum Paramount Trading to spend $500 million on phase one of new blending facility
Paramount Trading Ltd (PTL) on Wednesday, July 20, announced the start of construction for a new ble ... Read More

Verizon buys Yahoo for US$4.83B
SAN FRANCISCO, California (AP) — Verizon is buying Yahoo for US$4.83 billion, marking the end ... Read More

Caricel services remain in suspension Caricel hits back at OCG’s call for revocation of its telecom licences
Symbiote Investments says that the report tabled in Parliament on Tuesday by the Office of the Contr ... Read More

Jamaica beyond the IMF (Part 2)

BY KEITH COLLISTER | Monday, July 25, 2016    

T&T Prime Minister Keith Rowley (left) and Prime Minister Andrew Holness are all smiles, but is a Caricom revision in the air?

At the July 12th Private Sector Organisation of Jamaica (PSOJ) annual economic forum, entitled “Developing beyond the IMF”, President William Mahfood made the strong statement that “the single biggest inhibitor of growth in Jamaica has been poor policy”. He noted that he had attended a recent meeting that compared Jamaica to Colombia and the Dominican Republic, which revealed that the latter two countries were growing in the five to six per cent per annum range, with ve ... Read More

Use of central depository falls as investors diversify asset class

BY AVIA COLLINDER Business reporter collindera@jamaicaobserver.com | Monday, July 25, 2016    

The Bank of Jamaica in downtown kingston

A fall in transactions involving Government of Jamaica securities and Bank of Jamaica securities resulted in an overall decline in the use of the the Electronic Securities Depository (JamClear-CSD) during the last review year. The value of securities held in JamClear-CSD as at year end-2015 was $836.8 billion and US$1.5 billion compared to $857.4 billion and US$1.6 billion at end-2014. For 2015, the BOJ says in its 2015 annual report, a total of 121,145 transactions were processed in JamClear ... Read More

A helping hand for young business operators

Monday, July 25, 2016    

Representatives of the Clarendon Parish Council and partner agencies sign documents at the formal launch of the Clarendon Youth in Business Project in May Pen recently. From left are Rowhan Blake, secretary/manager, Clarendon Parish Council;  Terry-Ann Weir, Regional Business Development Officer, Jamaica Business Development Corporation;  Paulette Salmon, JNBS Branch Manager, May Pen;  Stephanie Hutchinson, National Caribbean Local Economic Development Project Coordinator; and Mayor of May Pen, Scean Barnswell. (Clarendon Parish Council)

May Pen, Clarendon — The Clarendon Parish Council and several partner agencies recently launched a project aimed at encouraging and supporting young business operators in the parish. The project aims to assist 15 young, local business owners by exposing them to product development and business improvement training. It includes grant funding of $100,000, a release from the Clarendon Parish Council said. Partnering with the parish council in the Clarendon Youth in Business Project are Ca ... Read More

Appleton Estate Jamaica Rum named Rum Brand Champion 2016

Monday, July 25, 2016    

Appleton Rums come out on top.

Appleton Estate Jamaica Rum has been named the Rum Brand Champion for 2016 by the respected global spirits publication, The Spirits Business. The Spirits Business’ Brand Champions report is released annually and showcases a brand from each category that outshines their competitors, not only in terms of volume growth, but also for consumer engagement tactics, new product development and all-round industry excellence. “We are thrilled that our premium rum brand, Appleton Estate Jamai ... Read More

A year on, Cuba urges Obama to make thaw ‘irreversible’

Monday, July 25, 2016    

HAVANA, Cuba —  Cuban walks along a street of Havana wearing a t-shirt depicting the US flag on Tuesday. (Photo: AFP)

HAVANA, Cuba (AFP) — Cuba called Wednesday on US President Barack Obama to make the former Cold War enemies’ reconciliation “irreversible”, as they marked one year since the restoration of diplomatic ties. With the United States hurtling toward its November presidential election, Josefina Vidal, Cuba’s top diplomat for US affairs, urged Obama to ensure his successor cannot undo the countries’ historic rapprochement. “Obama can do much more to make the ... Read More

Airline considers building new terminal at Ian Fleming Airport

BY KARENA BENNETT Business reporter bennettk@jamaicaobserver.com | Sunday, July 24, 2016    

Ian Flemming International Airport — Jamaica's smallest international airport, in Boscobel, St Mary

Airline operator interCaribbean Airways is eyeing the construction of a US$25 million private air terminal at the Ian Fleming Airport, St Mary. It forms part of expansion plans the airline is undertaking to position itself for an expected increase in passengers from the United States with the removal of the trade embargo with Cuba; and increased activities between Jamaica and the Chinese market. “We’ve had conversations about if it is possible and if so what size infrastructure ... Read More

Simms replaces Hosin at the Bank of Jamaica on one year contract

BY AVIA COLLINDER Business reporter collindera@jamaicaobserver.com | Sunday, July 24, 2016    

Gayon Hosin

The Bank of Jamaica (BOJ) which on Wednesday June 19 announced the departure of deputy Governor Gayon Hosin, has now disclosed that her deputy, Maureen Simms, will step into the role of supervisor of the Financial Institutions Supervisory Division, but only on a one year contact and in an assisting role to the Governor of the Bank. It also announced the renewal of the contract of senior deputy governor John Robinson for two years and the appointment of Dr Wayne Robinson in the post of Deputy G ... Read More

Now on to your mission

Dr Kenroy Wedderburn | Sunday, July 24, 2016    

SEATTLE, United States — In this Wednesday, March 23, 2016, file photo, Kevin Johnson, president and chief operating officer of Starbucks Corp., holds up one of the coffee company’s new prepaid Visa debit cards, at the coffee company’s annual shareholders meeting in Seattle. Photo: AP

You’ve got to eat while you dream. You’ve got to deliver on short-range commitments, while you develop a long-range strategy and vision and implement it. The success of doing both. Walking and chewing gum if you will. Getting it done in the short-range, and delivering a long-range plan, and executing on that. — Jack Welch A satisfied customer is the best business strategy of all. — Michael LeBoeuf The Mission Statement I read an organisation’s mission statement ... Read More

Risk-on! Are junk bonds good for me?

With Pamela-Lewis | Sunday, July 24, 2016    

BRASILIA, Brazil — Pedro Henrique offers water to commuters sitting at a traffic light in downtown Brasilia, Brazil,  July 19, 2016. Henrique, wearing the uniform he wore as a waiter, said he was let go by a restaurant this year in January. According to the Labour Ministry, Brazil has 11 million unemployed workers. Photo: AP

I continue to talk about junk bonds, because that’s where the money is. Junk bonds are defined as bonds below investment grade … that’s all they are. They are not something to be afraid of and to avoid. But they are risky, so you must choose wisely! Last week we heard that BlackRock, one of the world’s largest asset managers in the US, decided to buy bonds, specifically financial bonds, in Brazil! Well, we all know that these financial bonds are some of the riskiest ... Read More

IUC gets lesson in record keeping

BY CLAUDIENNE EDWARDS Observer writer edwardsc@jamaicaobserver.com | Sunday, July 24, 2016    

The IUC on Lady Musgrave Road in Kingston (Photo: Naphtali Junior)

Dear Claudienne, I am a recent retiree from the education sector. I have been lecturing various courses at the International University of the Caribbean (IUC) for several years on a part-time basis. It has become a practice for the institution to use lecturers of the highest calibre to deliver courses to students and to withhold our salaries for long periods of time. I am owed for two courses and a teaching-practice supervision which were all done over the past year. I am owed approximately ... Read More



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