Business

David Smalling, a fast-rising star on Wall Street

SMALLING... at Harvard I managed to get pretty lucky with the advisors that I worked with.

“Considering the political climate, I think I should point out one thing that I think has been crucial to forming who I am, and I can relate this with my friends who went to Campion… In my year at Yale there were three of us ... Growing up the way I did I never really thought about race ... Read More

A view of Savannah-la-Mar, capital of Westmoreland. Change of thought over change of name process
Dear Claudienne: On Tuesday, November 1, 2016, I went to the Savanna-la-Mar branch of the Registrar ... Read More

Wisynco’s new warehouse (Photo: Joseph Wellington) Wisynco’s new warehouse nears completion
Less than a year after Wisynco Group Limited suffered over $2 billion in losses from a fire at its L ... Read More

MATTHEWS... I look forward to positively representing Jamaica Nadeen Matthews named Young Global Leader
Nadeen Matthews, Chief Digital and Marketing Officer for the NCB Group, joins the ranks of a noble ... Read More

Sagicor X fund signs new franchise agreement with Hilton

AVIA COLLINDER Business reporter collindera@jamaicaobserver.com | Friday, March 03, 2017    

A view of the Palmyra Resort in Montego Bay

Sagicor Real Estate X Fund Ltd, which acquired a 15 per cent interest in a joint acquisition with other Sagicor funds of Palmyra Resort and Spa in Montego Bay, St James, indicates that the property is now undergoing renovation and expects to start generating income in 2017. As indicated in notes attached to the Fund’s financials for the year ended December 31, 2016, the group’s share of the operating expenses for the acquisition was $16.79 million.The cost of acquisition, upgrade ... Read More

Ugandan refugee to invest in EducaTours

Friday, March 03, 2017    

Derreck Kayongo.

Founder of the US$10-m Global Soap Project in Atlanta and a CNN Hero, Derreck Kayongo, has committed to investing in local social enterprise company EducaTours, as the organisation prepares to launch its crowdfunding programme. The Global Soap Project recycles partially used and discarded bars of soap from thousands of hotels and redistributes them to disadvantaged populations in 90 countries, where close to two million people die each year due to the lack of proper hygiene. Kayongo, who i ... Read More

Nicaragua tobacco industry thrives thanks to US consumers

Friday, March 03, 2017    

A box of Nicaraguan cigars.

ESTELI, Nicaragua (AFP) — Cuba’s cigars may be more famous, but Nicaragua has its own growing reputation as a tobacco producer, boasting a sector that is a big exporter and employer, thanks mainly to US demand. Esteli, a region in the north of the Central American country, has the dark soil and tropical climate propitious for growing the big leafy tobacco plants. And there’s a lot of Cuban know-how on the farms. Many of the firms here are owned by families that emigrated f ... Read More

A barter system by SMEs and Venezuela good opportunity for local businesses

Hugh Graham | Friday, March 03, 2017    

Hugh Graham

The economic turmoil faced by Venezuela presents a unique opportunity for small- and medium-sized businesses in Jamaica to collaborate for mutual benefit through a barter system that will stimulate the Jamaican economy as well as provide necessities to struggling Venezuelans in one of the worst crises to face the country. Venezuela, which is one of the most urbanised countries in South America, is in economic turmoil. In the last year, the country experienced an inflation rate increase of 50 ... Read More

$32 billion added to budget

Thursday, March 02, 2017    

Audley Shaw

THE 2017/18 Estimates of Expenditure (budget) has now risen to $742 billion, Minister of Finance and the Public Service Audley Shaw has announced. Shaw disclosed the new figure in his opening statement at Tuesday’s meeting of the Standing Finance Committee of the House of Representatives, which is comprised of all members of Parliament, at Gordon House. The original estimates tabled on February 9, when the new session of Parliament opened, stated total budget spending of approximately $ ... Read More

BGLC demands more compliance from licensees

Wednesday, March 01, 2017    

The BGLC aims to get more money from gaming machines.

Regulator of Jamaica’s gaming establishments, the Betting, Gaming and Lotteries Commission (BGLC), has increased efforts to bring more licensees into compliance. Following the implementation of the Tax Administration Jamaica’s (TAJ’s) Revenue Administration Information System (RAiS), the BGLC in a press release advised that it will be facilitating increased compliance by setting up temporary licence-renewal desks at tax offices across the island to assist licensees with the r ... Read More

Thoughts on Budget 2017-18

Wednesday, March 01, 2017    

WILLIAMS... the tax measures are credible.

Densil A Williams, professor of International Business, UWI, and executive director of the Mona School of Business and Management, says that the budget for fiscal year 2017-18 as outlined reveals a shortfall in funding which is likely to be made up either from new taxes or another drawdown from the National Housing Trust. The professor also indicates that the gap between revenue and expenditure could be as big as $32 billion. He adds that while the growth agenda tops the Government’s o ... Read More

What really is relationship marketing?

Herman Alvaranga | Wednesday, March 01, 2017    

The Jamaican barber — an expert in relationship marketing

Want to know who are the masters of relationship marketing? Check our hairdressers and barbers! They make full use of digital and personal communications and are great at customer retention. But what about corporate Jamaica? Does your insurance company, for example, still wait a whole year until when it is renewal time to contact you about your car insurance? Do we really know? Most Jamaican companies claim that relationship marketing is very important to their present and future business succ ... Read More

Caribbean Broilers investing

Wednesday, March 01, 2017    

A pack of CB chicken.

Caribbean Broilers Group says it has pumped US$4 million in a state-of-the-art facility aimed at producing healthier, convenient foods and to reduce Jamaica’s import bill on poultry products. In a press release, CB Group said it has launched a marketing campaign ‘Live Better’, which seeks to challenge Jamaicans “to do less talking and embrace their collective power to take more positive actions”. The new facility, located on CB’s Clarendon property, will off ... Read More

Lower rates yield higher demand for mortgages

BY AVIA COLLINDER Business reporter collindera@jamaicaobserver.com | Wednesday, March 01, 2017    

JN Bank on Constant Spring Road in Half Way Tree, St Andrew (Observer File)

Data provided by the Planning Institute of Jamaica indicates that the number and value of mortgages held by the National Housing Trust (NHT) — the largest lender of home loans — has been in decline since 2013, cresting at $21.6 billion in that year, then sliding to $17 billion in value in 2015. In a bid to revive demand, rates were cut drastically in mid-2016, with zero per cent interest offered to new home buyers with a weekly income of $12,000 and under. For those earning a high ... Read More



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