Business

GDP and investment horizon blues

A view of the Kingston Harbour, set to become part of Jamaica’s logistics hub

Theodore Mitchell, group sovereign economist with the JMMB Group, says the likelihood of growth above two per cent for the Jamaican economy is diminished because promises of large investment projects have failed to materialise. In a forecast for the Jamaican economy for 2016 which was released on ... Read More

President and CEO of JPS Kelly Tomblin (left) engages in energy talks with Senior VP of Energy Delivery, Gary Barrow; VP of Generation Joseph Williams and Director of Corporate Communications Winsome Callum at the press briefing last Friday. JPS to roll out mobile application by September
In a bid to improve its service to consumers, Jamaica’s light and power company JPS will be ro ... Read More

Kenroy Wedderburn Sharpening your human resources via training
“If you think education is expensive, try ignorance.” — Derek Bok People need mai ... Read More

A ship docked at the pier at the Noranda plant in St Ann. Land row crops up
Dear Claudienne, In 1990 my father, now deceased, sold land at Watt Town, St Ann, to Kaiser Bauxite ... Read More

Whither the investment opportunities in 2016?

Eugene Stanley | Sunday, February 07, 2016    

HONG KONG, China — Traders work on the trading floor of the stock exchange in Hong Kong on Wednesday

SOME investors had a stellar year in 2015 and wished the year had been prolonged while others suffered a painful experience and could hardly wait for the year to conclude, hoping that the new year would bring a much-needed turnaround in their “financial fortunes”. Opportunities were present in the local equities markets and few asset classes on the international markets in 2015. But where will the rewarding opportunities come from in 2016, given the market volatility seen so far and ... Read More

Venture capital ecosystem gets US$3.5m boost

BY KARENA BENNETT Business reporter bennettk@jamaicaobserver.com | Friday, February 05, 2016    

Country representative of the Inter-American Development Bank (IDB), Therese Turner-Jones (centre), holds a copy of the 2nd Technical Cooperation Agreement between the Development Bank of Jamaica (DBJ) and IDB while conversing with the DBJ Managing Director Milverton Reynolds at the Jamaica Pegasus hotel. Looking on is chairman of the DBJ Joseph Matalon.

The Development Bank of Jamaica has signed off on an agreement with the Inter-American Development Bank (IDB) – Multilateral Investment Fund (MIF) valuing roughly US$3.5 million, the second funding towards the development of the Technical Cooperation Agreement. Just under three years ago, DBJ signed the first Technical Cooperation Agreement with the IDB-MIF for the development of a venture capital ecosystem to create an environment conducive to the establishment of a dynamic private equi ... Read More

Reggae is Jamaica’s answer to Trinidad’s oil — Bogdanovich

BY AVIA COLLINDER Business reporter collindera@jamaicaobserver.com | Friday, February 05, 2016    

BOGDANOVICH... I see reggae music as a natural resource which is underdeveloped

DownSound Records (DSR), led by entrepreneur Josef Bogdanovich who partnered with Sting’s Isaiah Laing to stream the island’s largest annual concert live to 179 countries worldwide, indicated on Wednesday that it is planning to deliver its own international staging of artistes before year end. With Swiss bankers UBS in tow, Bogdanovich announced at a conference in Kingston that he was ready to roll out his own brand of international festival, adding as well that DSR was two month ... Read More

The GOJ wants $15 billion to borrow

Friday, February 05, 2016    

Bank of Jamaica in downtown Kingston

Theodore Mitchell, group sovereign economist with the JMMB Group Ltd, said today in an economic forecast, for 2016, that almost half of the $72 billion which is expected to flow into the local market from the repayment of principal and interest on NDX bonds already has takers. The Government of Jamaica (GOJ) is expected to offer $15 billion in new bonds, while financial institutions owe and will repay the Bank of Jamaica $12 billion in lieu of a liquidity facility which was made available to t ... Read More

Hardware and Lumber to keep name, management team

BY AVIA COLLINDER Business reporter collindera@jamaicaobserver.com | Friday, February 05, 2016    

Rapid TrueValue in Kingston

Marcus Richards, executive vice-chairman of Greystone Capital Partners Ltd and spokesperson for St Lucian company Argyle Industries Inc — the special purpose vehicle created to hold the shares of investors who purchased the holdings of GraceKennedy Limited in Hardware and Lumber — said Monday that delisting of the company is a possibility as Argyle is aiming at the 100 per cent acquisition of shares in the company. Otherwise, Richards said the name of the company and the manageme ... Read More

Five sure-fire ways to fail at social media marketing

BY Hanniffa Patterson | Friday, February 05, 2016    

RANCHO PALOS VERDES, United States —  Facebook COO Sheryl Sandberg speaks on stage at the 2016 MAKERS Conference Day 2 at the Terrenea Resort on Tuesday in Rancho Palos Verdes, California.

Social media seems to have taken the world by storm. Where once to play in the game one needed big advertising dollars, TV ads and radio airplay, both small and large businesses can now access a large base of clients online at comparably more affordable rates — all thanks to social media. However, as time has progressed, more new social media platforms are being developed and their uses in business have become more complex. Therefore, social media is often not as simple as it seems. If ... Read More

One from ten leaves nought

BY DENNIS CHUNG | Friday, February 05, 2016    

We are pressing the gas pedal with the emergency brake still engaged

In 1961, when Jamaica voted by referendum to withdraw from the West Indies Federation, Dr Eric Williams, then Premier of Trinidad and Tobago, said “one from ten leaves nought”. This statement can be interpreted to mean that there are always key ingredients in an object or event that make it unworkable, or achieve suboptimal performance. So for example, if a car does not have fuel it will not drive, while on the other hand a car with a flat tyre may still be able to move but at a si ... Read More

CAC 2000 eyes tourism sector

BY JOSIMAR SCOTT Observer writer | Friday, February 05, 2016    

MARSTON... one thing that has surprised me is the positive impact of the IPO publicity

As the tourism industry continues to see some growth both in visitor arrivals and infrastructure investments, CAC 2000 Chairman and CEO Stephen Marston is buoyant that his recently Junior Market-listed company can take advantage of opportunities derived from these hotel development projects. “We will now have the opportunity to increase our job portfolio through taking on more and larger jobs with the added benefit of completing them in a faster time frame. For example, we will now be abl ... Read More

GraceKennedy Money Services expands to Turks & Caicos 

Friday, February 05, 2016 11:25 AM    

KINGSTON, Jamaica — GraceKennedy has announced that on February 2 its subsidiary GraceKennedy Money Services (GKMS) opened service centres in Turks and Caicos Islands as the authorised agent of Western Union. The move is being made through GraceKennedy Money Services Turks & Caicos Limited (GKMS Turks & Caicos). Chief Executive Officer of GKMS, Michelle Allen, said GKMS Turks & Caicos will initially have one operating location. ‘Your Choice TCI’, located at Payles ... Read More

Completion of Panama Canal expansion pushed back to June

Friday, February 05, 2016    

A view of the Panama Canal

PANAMA CITY, Panama (AFP) — A multi-billion-dollar expansion of Panama’s canal to triple its capacity will likely miss yet another completion deadline and now won’t be finished until June, according to the waterway’s administrator. “The inauguration will still take place in the second quarter, but more towards June,” Jorge Quijano told AFP yestersday. A month ago, Panamanian President Juan Carlos Varela had said the work would be completed “around the ... Read More



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