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

Heineken locked in a David and Goliath battle for supremacy

BY RICHARD BROWNE Business editor browner@jamaicaobserver.com | Wednesday, March 15, 2017    

DE CARVALHO... Red Stripe is an iconic Jamaican brand (Bryan Cummings)

Red Stripe could be an all-important stone in David’s sling as Heineken gets locked into a battle with global beer behemoth Anheuser-Busch InBev (ABI). But it is Heineken’s passion and belief for beer that will ensure that the Dutch brewery — and Red Stripe by extension — will continue to perform well on a global scale, despite the recent massive merger of ABI with SABMiller (SAB), according to Michel de Carvalho, a director on the Heineken supervisory board. “Th ... Read More

Lee-Chin gives up on cocoa project

BY AVIA COLLINDER Business reporter collindera@jamaicaobserver.com | Wednesday, March 15, 2017    

President and Chairman of Portland Holdings Michael Lee-Chin.

A representative of the Divestment Unit at the Development Bank of Jamaica (DBJ) said yesterday that the government is yet to decide on its strategy for the divestment of the assets of the Cocoa Industry Board since negotiations with the preferred bidder — Michael Lee-Chin’ s Wallenford Ltd — were terminated. The assets of the board include fermentaries in Richmond, St Mary and Morgan’s Valley, Clarendon; the Montrose cocoa farm also located in Richmond; processing equip ... Read More

Will global populism derail Jamaica’s emerging economic turnaround?

BY KEITH COLLISTER | Wednesday, March 15, 2017    

Weather vane required?

An old soothsayer advised Roman Emperor Julius Caesar to “Beware the Ides of March”, or March 15th, which became forever famous as the date of his assassination. This year, an unusual confluence of international events occur today, suggesting that there is a strong need for Jamaicans to begin to focus on events abroad, despite the fact that we are in our own newsworthy budget season. Perhaps the most important is the Dutch election, where last week, according to one international ... Read More

Empire 2.0? Commonwealth eyes post-Brexit trade boost

Wednesday, March 15, 2017    

LONDON, England — (From left) Britain's Queen Elizabeth, Britain's Prince Philip, Duke of Edinburgh, Britain's Prince Charles, Prince of Wales and Britain's Camilla, Duchess of Cornwall attend a Commonwealth Service at Westminster Abbey in central London, on Monday.
Queen Elizabeth II has been Head of the Commonwealth throughout her reign. Organised by the Royal Commonwealth Society, the Service is the largest annual inter-faith gathering in the United Kingdom. (Photo: AFP)

LONDON, United Kingdom (AFP) — With Britain on the brink of triggering its EU exit talks, the country and its historic trading partners in the Commonwealth are sizing up an opportunity to boost business. Members in the 52-state organisation, which was born out of the British empire, feel the time is right to exploit their common bonds of language and law to a much greater degree. Britain is gearing up to strike its own trade deals outside of the European single market and is looking to ... Read More

OPEC detects ‘high compliance’ with oil cut deal

Wednesday, March 15, 2017    

Saudi Arabia’s King Salman bin Abdulaziz al-Saud (Photo: AFP)

PARIS, France (AFP) — OPEC said yesterday oil producers have kept their promises to cut output, but the oil price plunged as traders doubted that they are doing enough to offset a global supply glut. Prices rose in February after a landmark deal between OPEC members and some non-members gained traction, the Organisation of the Petroleum Exporting Countries said in its monthly oil report. The oil price recovery was, however, under threat from fresh supply as high-cost producers in the Uni ... Read More

Former PM urges a reconsideration of approach to IMF

Wednesday, March 15, 2017    

ARTHUR... this country must begin to have a debate on what should be an appropriate exchange rate policy (OBSERVER FILE PHOTO)

BRIDGETOWN, Barbados (CMC) – Former Barbados prime minister Owen Arthur is urging the Freundel Stuart government to re-consider a relationship with the Washington-based International Monetary Fund (IMF) as it seeks to turn around an ailing economy. Speaking during the debate on the 2017-18 Estimates of Expenditure and Revenue, Arthur, who is being linked to an advisory job with the current administration, acknowledged that going to the IMF would not be easy. “Barbados cannot turn i ... Read More

Sun-seeking retirees flock to ‘China’s Florida’

Wednesday, March 15, 2017    

SANYA, China — Elderly people rest along the beach in Sanya, Hainan province, on February 15, 2017. (Photo: AFP)

SANYA, China (AFP) — Blessed by palm-fringed beaches and balmy weather, the island province of Hainan is fast becoming known as “China’s Florida”, drawing masses of retirees fleeing the biting cold of their hometowns. “At home in Harbin, it (can be) -30 degrees (-22 Fahrenheit), it’s unbearable! But here the climate is perfect,” said a 71-year-old pensioner who gave only her surname, Wang. Hailing from the capital of the polluted, frigid, rust-belt pro ... Read More

Intel buying Israeli car tech firm Mobileye for US$15 billion

Wednesday, March 15, 2017    

JERUSALEM — A car drives past the offices of Israeli car tech firm, Mobileye in Jerusalem on Monday. (Photo: AFP)

JERUSALEM (AFP) — Intel will buy Israeli car tech firm Mobileye for more than US$15 billion, the companies said Monday, in a deal signalling the US computer chip giant’s commitment to technology for self-driving vehicles. Israeli media reported that the deal, worth approximately US$15.3 billion, was the largest-ever cross-border acquisition for an Israeli tech firm. It comes with Intel and Mobileye previously collaborating with German automaker BMW to develop self-driving cars. I ... Read More

Government and Opposition differ on state of economy

Wednesday, March 15, 2017    

SINCKLER... Government has been borrowing too much money from the Central Bank.

BRIDGETOWN, Barbados (CMC) – Government and Opposition legislators as expected differed on the state of the Barbados economy as they began debating the 2017-18 Estimates of Revenue and Expenditure on Monday. Finance and Economic Affairs Ministers Chris Sinckler who led off the debate acknowledged that the Freundel Stuart government may have adopted a wrong policy in getting the Central Bank to print money and said it must be “brought to a halt as soon as is practical”. &ldqu ... Read More

Nigerian inflation slows for first time in 15 months: data

Wednesday, March 15, 2017    

ABUJA, Nigeria — Nigerian President Muhammadu Buhari addresses members of his cabinet upon his arrival at the presidency in Abuja, on March 10. (Photo: AFP)

ABUJA, Nigeria (AFP) — Nigerian inflation slowed for the first time in 15 months to 17.78 per cent in February, driven by lower energy and utility prices, the National Bureau of Statistics (NBS) said yesterday. The cost of living in Africa’s most populous nation began rising in November 2015, when inflation increased slightly to 9.37 per cent from 9.3 per cent a month earlier. It had risen steadily since then, peaking at 18.7 per cent in January this year. “This represents ... Read More



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