Business

DBJ to create 'Portmore of MoBay' by selling Montpelier land

DBJ

GOVERNMENT wants an investor to acquire roughly 780 acres of farmland in Montpelier, St James, for housing and shopping in order to become 'the Portmore of Montego Bay'. It's a re-tendering of the lands but with a new thrust on housing development rather than agriculture. The sale would become one ... Read More

Digicel Group COO, Andy Thorburn (seated, left), and Patrick Rousseau (seated, right), Chairman
of IMC and SportsMax celebrate the acquisition deal with Phillip Martin, Deputy Chairman of
IMC and Sportsmax (standing left) and Oliver McIntosh, CEO of Sportsmax. Digicel turns major content provider following cable TV acquisitions
DIGICEL has bought a majority stake in the parent company of regional sports broadcaster, SportsMax. ... Read More

To help avoid bankruptcy, NIS to woo informal sector To help avoid bankruptcy, NIS to woo informal sector
THE National Insurance Scheme (NIS) plans to encourage the informal economy to pay pension contribut ... Read More

NCB’s Senior General Manager for Retail Banking Audrey Tugwell Henry (right) presents a
cheque for $13.5 million to the Chief Executive Officer of Jamaica Business Development
Corporation, Valerie Veira (second right), while Minister of Industry, Investment and Commerce,
Anthony Hylton (second left), and JBDC Chairman, Silburn Clarke look on. JBDC secures $25m for mobile business clinic
THE Jamaica Business Development Corporation (JBDC) has accumulated $25 million in support of the mo ... Read More

JMMB to group companies under new parent

Friday, September 19, 2014    

JMMB

JAMAICA Money Market Brokers Limited (JMMB) shareholders voted unanimously to approve grouping all its subsidiaries under a new parent company — JMMB Group Ltd — in compliance with pending regulations. This is aimed at effecting more efficient supervision under the Bank of Jamaica (BOJ). It follows the acquisition of a deposit-taking institution, Capital & Credit Financial Group (CCFG), in 2012. Under the Banking Services Act 2014, financial groups which contain deposit-taking ... Read More

What is Jamaica's growth potential?

Contributed by DENNIS CHUNG | Friday, September 19, 2014    

Planning Institute of Jamaica Director General Colin Bullock.
The PIOJ is targeting three per cent growth for next fiscal year.

THE Planning Institute of Jamaica (PIOJ) is targeting real GDP growth of three per cent in the fiscal year 2015/16. This is against the previously targeted 1.5 to two per cent, under the current IMF agreement. I have long indicated that Jamaica has the capacity to grow at rates of between three to five per cent, in the short to medium term, and also that if we are really to see meaningful growth that will impact the man on the street, then growth must be upwards of three per cent. I am sure tha ... Read More

LIME employees rise to CEO's challenge

Friday, September 19, 2014    

LIME CEO Garfield Sinclair presents the major cash prize to Operating Expenditure Analyst
Darcia Wilkinson, winner of ‘The Captain’s Challenge’.

WHEN LIME CEO Garfield Sinclair challenged employees to come up with an innovative idea to reduce the telecoms firm's utility expenses, little did he know he would have been richly presented with a wide array of recommendations. Dubbed 'The Captain's Challenge', Sinclair offered US$1,000 to any employee who submitted a feasible strategy to reduce LIME's utility costs. Darcia Wilkinson, an operating expenditure analyst, walked away with the cash prize after submitting a detailed renewable energ ... Read More

Today marks a major step forward for venture capital in Jamaica

BY KEITH COLLISTER | Friday, September 19, 2014    

Chief Executive Officer of Oasis500, Yousef Hamiddadin (left), noted that over a ten-year period
Jordan had succeeded in increasing information and communication technology from three per
cent of GDP to 14 per cent.

TODAY should mark a major step forward for venture capital in Jamaica, as a number of leading conglomerates are expected to respond to the Development Bank of Jamaica's call for proposals to manage venture capital funds, perhaps even including some foreign firms. Last week, the Development Bank of Jamaica held its second venture capital conference entitled "Towards a dynamic ecosystem.. linking capital, innovation, entrepreneurship for growth ." In our article last Friday, we highlighted keynot ... Read More

LIME to begin network upgrade in MoBay in November

Friday, September 19, 2014    

LIME to begin network upgrade
in MoBay in November

LIME is set to begin upgrades to its mobile and broadband platform in Montego Bay come November. The telecommunications company, which is currently undertaking islandwide upgrade to its network, has "plans to sustain and inject fresh investments so that we continue to deliver a first-class experience for our customers," said Norman Naar, Head of LIME Business at the CISCO United Communications and Wireless Technology Showcase at the Hilton Rose Hall Hotel in Montego Bay last Thursday. "Admitte ... Read More

How falling corn prices can affect Jamaica Broilers

Contributed by LEON FRANSCIQUE | Friday, September 19, 2014    

A conveyor adds another 1,000 bushels to the mountain of
approximately 75,000 bushels of corn rising from the ground at a
grain facility in Texas, USA.

THE Jamaica Broilers Group Limited (JBG) is an agricultural group of companies incorporated and domiciled in Jamaica with its registered office located at Content, McCooks Pen, St Catherine. The principal activities of the company and its subsidiaries include the production and distribution of poultry, ethanol, animal feeds and agricultural items. Latest financial results In JBG's Annual Report for its financial year ended May 3, 2014, management noted that "general inflation along with the co ... Read More

NCB Global Finance launches in Trinidad

Friday, September 19, 2014    

NCB Global Finance launches in Trinidad

Larry Howai (left), Trinidadian Minister of Finance and Economy; Mayor of Port of Spain, Alderman Raymond Tim Kee (second left); Steven Gooden (centre), CEO of NCB Capital Markets ; Angus Young (second right), CEO NCB Global Finance; and Gervase Warner, CEO Massy Group, at the launch of NCB Global Finance in Trinidad and Tobago. After acquiring AIC Finance last December, National Commercial Bank Jamaica Limited (NCB) has rebranded the firm NCB Global Finance. It is part of NCB's ongoing efforts ... Read More

Digicel acquires SportsMax

Thursday, September 18, 2014 2:05 PM    

Digicel Group COO, Andy Thorburn, and Patrick Rousseau,
Chairman of IMC and SportsMax (front row left and right)  celebrate with
Phillip Martin, Deputy Chairman of IMC and Sportsmax (standing left)
and Oliver McIntosh, CEO of Sportsmax (standing right).

KINGSTON, Jamaica -- Digicel today announced that it has acquired majority ownership and control of St Lucia-based International Media Content Ltd, parent company of regional sports broadcaster, SportsMax, and North American broadcaster CEEN-TV, for an undisclosed sum. Under the terms of the deal, the founder and a number of the lead principals will continue to have an ownership stake and be involved in the day-to-day running of the IMC operation. Read More

Chinese buyers lead charge in iPhone 6 global debut

Thursday, September 18, 2014 9:56 PM    

Apple gadget fans queue outside of an Apple store for the iPhone 6's release in Tokyo on September 18, 2014. Apple's new smartphone iPhone 6 launches on September 19. (Photo: AFP)

TOKYO, (AFP) - Buyers from China, deprived of the latest iPhone launch at home, were among the first in line Friday in Japan to grab the "6" and its new large-screen cousin as Apple hit back at rivals. A thriving secondary market was emerging hours after the first phones left stores, with mainland China having been left out of the initial global rollout. Dealers in Hong Kong said they were prepared to offer a hefty premium. "If we are talking about the 128 gigabyte version we would buy it for ... Read More

Financial Mistakes

With Cherryl Hanson-Simpson | Thursday, September 18, 2014    

Financial Mistakes

"Success does not consist in never making mistakes, but in never making the same one a second time." — George Bernard Shaw UNLIKE most school systems, life doesn't give you homework and examinations to determine how well you have learned the skills you need to succeed. In the real world, you can often gauge your progress in accomplishing your goals by the type of results that you are currently experiencing. When it comes to money, there are many mistakes that can prevent you from enjoyin ... Read More



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