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

Drug against alcoholism works, researchers claim

Sunday, March 19, 2017    

A cure for alcoholism?.

PARIS, France (AFP) — French researchers provided fresh evidence Friday to support claims that a drug touted as a miracle cure for alcoholism, and prescribed for this purpose in France, actually works. The drug, baclofen, had “a positive effect” at high doses in reducing alcohol consumption over a year of treatment, according to study results released at a conference in Paris. Developers reported on a drug trial named Bacloville, conducted among 320 heavy drinkers aged 18 to ... Read More

High-cost drug helps slash cholesterol in sick patients

Sunday, March 19, 2017    

high cholesterol or high cholesterol

WASHINGTON, United States (AFP) — A new cholesterol-lowering drug evolocumab helps high-risk patients reduce the likelihood of a heart attack or stroke, but its high cost raises questions about how many patients will benefit, researchers said Friday. The results of a two-year clinical trial on the drug sold as Repatha by Amgen Phamaceuticals that costs more than US$14,000 a year were released at the American College of Cardiology annual conference in the US capital. The randomised trial ... Read More

Are you a chicken counter or the boy who cried wolf?

With Toni-Ann Neita | Sunday, March 19, 2017    

NEW YORK, United States — Wearing coyote masks and business suits and waving signs against Canada Goose and their use of fur, PETA members  gather outside the New York Stock Exchange on March 16, 2017 to protest as Canada Goose makes its initial public offering in New York.(Photo: AFP)

How often have you heard someone say, “I made so much money in the stock market today”? I personally hear it almost daily, especially with the stock market doing so well in recent times. When someone says that, I always get worried because it is usually not true. Before you crucify me, I am not saying that these people are liars. They have just fallen victim to a common misconception when investing — that you make money when your investments go up in value and you lose money ... Read More

Budget is inflationary — Devon Barrett

BY JOSIMAR SCOTT Observer writer | Friday, March 17, 2017    

From left: President of the Jamaica Chamber of Commerce Larry Watson, CEO of VMWM Devon Barrett, Chairman, VMBS Michael McMorris and UWI professor Densil Williams converse at the VMWM Post-Budget Forum at the Terra Nova Hotel on Monday. Bryan Cummings

Victoria Mutual Wealth Management (VMWM) boss Devon Barrett has given the Government’s new budget the thumbs down, labelling it as inflationary. While noting that he would not “criticise the budget”, but rather, “simply… tell you how to capitalise” on what was presented, the VMWM chief executive officer said: “Unfortunately, it’s going to be inflationary.” Like other presenters at the VMWM Post-Budget Forum at Terra Nova Hotel in St Andrew ... Read More

Kingston ranks 153rd on livability index

BY RICHARD BROWNE Business editor browner@jamaicaobserver.com | Friday, March 17, 2017    

An aeiral view of downtown Kingston, Jamaica.

From a new list of 231 cities around the world, Kingston ranks at 153, between Ho Chi Ming City in Vietnam and Mumbai, the Indian megapolis at 154. The ranking comes from Mercer’s 19th annual Quality of Living survey, which was released earlier this week. The survey considers aspects such as city infrastructure, transportatiion, reliable electricity and water supply. It is used largely by internatioanl firms in helping them to decide where to invest and how to compensate expatriate compa ... Read More

Zacca to introduce new technology, lead Caribbean expansion

BY AVIA COLLINDER Business reporter collindera@jamaicaobserver.com | Friday, March 17, 2017    

CEO, Managing Director and President of Sagicor Group Jamaica Richard Byles congratulates his successor, businessman Chris Zacca, as Chairman, Pan Jamaican Investment Stephen Facey (left) and Chairman, Sagicor Jamaica Danny Williams look on. (Photo: Karl McLarty)

Richard Byles, speaking at a press conference called in Kingston to announce new group appointments at Sagicor Group Jamaica, indicates that the company is eyeing the central American region, as well as the Northern and Western areas of the Caribbean for expansion. Byles will retire as CEO, managing director and president of Sagicor Group Jamaica at the end of April, making way for Christopher Zacca, but will also assume chairmanship of Sagicor Group on June 1, 2017, taking the helm when curre ... Read More

Create a culture of development

BY DENNIS CHUNG | Friday, March 17, 2017    

A view of cruise ships at port in Antigua

Every time we come around to this time of the year — when we debate the budget, I swear that the arguments for and against are the same. The same arguments may not come from the same people every year, as it depends on which party is in power at the time. But no matter which party it is, the arguments made by their supporters are always similar to the ones made by the party that was in power the last time. The problem I have with the discussions that take place is that they never really c ... Read More

SME loans on the rise at Scotiabank

BY AVIA COLLINDER Business reporter collindera@jamaicaobserver.com | Friday, March 17, 2017    

SHARP... we are encouraged by the positive signs emerging in the economy

Jacqueline Sharp, president and CEO of Scotia Group, in highlighting the performance of the group during her presentation at the Annual General Meeting on March 10, pointed to a 23 per cent growth in loans to the small business or SME sector. The annual meeting was held at the Montego Bay Convention Centre. Sharp used the opportunity to highlight the launch of a new programme for SMEs, including loan rates as low as 9.99 per cent, as well as a special promotion that offers three months free to ... Read More

Margaritaville weathers the storm

BY AVIA COLLINDER Business reporter collindera@jamaicaobserver.com | Friday, March 17, 2017    

Margaritaville in Turks and Caicos Islands

Margaritaville Caribbean Ltd (MCL), which saw revenues fall in its second quarter due to the impact of bad weather on subsidiary operations, ended the period with EBITDA (Earnings before interest, tax, depreciation and amortisation) of US$37,700 compared to US$178,000 in the quarter of the prior year. Revenue for the second quarter ending November 30, 2016, was US$7.13 million, compared to US$7.78 million in the prior year’s quarter. EBITDA for the half-year was US$963,366 compared to U ... Read More

Sagicor confirms Richard Byles’ departure

Friday, March 17, 2017    

BYLES... retires at the end of this month

Sagicor Jamaica executives yesterday confirmed Wednesday’s Jamaica Observer news story that president and chief executive officer of the group, Richard Byles, will be retiring from office on April 30 and will be replaced by businessman Christopher Zacca. Chairman of Sagicor Group Jamaica, Danny Williams, made the disclosure at a press conference in New Kingston, where he also announced that Byles will, in fact, be taking over his position as head of the board, as he too will be retiring f ... Read More



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