Business

Sweet and Simply Jamaican

Mark Fletcher displays packages of his company’s new ‘Sweet
and Simply Jamaican’ rum cakes.

THE Mark Fletcher-led Coffee Roasters Jamaica (CRJ) will start selling its own brand of rum cakes in a move to expand its distribution lines and help counter the loss of the Tortuga rum cake distributorship a year earlier. Concurrently, CRJ also launched a line of single-serve k-cup Jamaica Blue Mo ... Read More

An aerial shot of the ISSA/GraceKennedy Boys’ and Girls’ Athletic Championships at the National Stadium earlier this year. The sky is not the limit
IT has been less than 24 months since Ravi Sittol started SkyCam Ja, but already the 28-year-old ent ... Read More

The Consumer Affairs Commission has reported that prices at gas station pumps have dropped at half that of the global oil prices
between July and the end of October. Retail gas prices in Ja dip lower than in Miami — Petrojam
PETROJAM Limited, the nation's oil refinery, indicated that it reduced gas prices by 25 per cent in ... Read More

Need a loan for Christmas?
Be very careful, CAC advises Need a loan for Christmas? Be very careful, CAC advises
THE Consumer Affairs Commission (CAC) is advising consumers to exercise vigilance when accepting Chr ... Read More

Holiday shopping season sales come down to the wire

Sunday, December 21, 2014    

NEW YORK, USA (AP) — Despite an early start, sales data provided to The Associated Press show that US stores may once again have to rely on procrastinators to save the holiday shopping season. Sales were up 1.8 per cent from November 1 through last Monday compared with the same period a year ago, according to payment technology company First Data Corp, which declined to provide sales figures. The numbers are modest considering the National Retail Federation, the nation's largest retail t ... Read More

Douglas knocks businesses that hike prices on VAT-exempted goods

Sunday, December 21, 2014    

DOUGLAS… any person who
is charged VAT on medicines
should strongly protest to the
retailer involved, as well as
lodge a complaint with the
Ministry of Consumer Affairs

BASSETERRE, St Kitts (CMC) — The St Kitts-Nevis Government has criticised business organisations that have increased the price of several items exempted from the Value Added Tax (VAT) and Customs duties. "This is not nice. This is terrible and I am making this public appeal to our businessmen not to do this because the Government is going to police it and wherever it is found, we are going to do something about it," said Prime Minister Dr Denzil Douglas. A Government statement said that ... Read More

Pension payment problem

Claudienne Edwards | Saturday, December 20, 2014    

The headquarters of JPS in Kingston.

Dear Claudienne, I live in the US and my pension payments from the Jamaica Public Service Company (JPS) are deposited monthly by Sagicor in an account at Sagicor Bank. The last deposit to my account was in July 2014. This means that no funds were deposited for the months of August, September, and October. Please find out for me why they have stopped putting monthly payments in my Sagicor account. WC Dear WC Sagicor has informed us that they stopped the payments to your Sagicor Bank account ... Read More

LIME projects US$281-m growth in revenues from Flow acquisition

BY STEVEN JACKSON Business reporter jacksons@jamaicaobserver.com | Friday, December 19, 2014    

DEHRING… has been on a talk tour of 30 countries in 14 days

TELECOMS provider LIME Jamaica expects to grow annual revenues to US$281 million with the Flow acquisition, according to Chairman Chris Dehring. It's a signal to investors vying to evaluate possible earnings arising from the local leg of the regional merger. The increase would equate to a two-thirds jump in LIME Jamaica's $18.4 billion (US$170 million) total revenues earned at its March year end. The merger would not affect mobile revenues but augment other revenues currently at $12 billion (U ... Read More

Ja ranks below Syria in Global Energy Index report

BY STEVEN JACKSON Business reporter jacksons@jamaicaobserver.com | Friday, December 19, 2014    

KOBANI, Syria — In this Wednesday, November 19, 2014 photo, a Kurdish People’s Protection
Unit (YPG) fighter shows the extent of the damage from a truck bomb in Kobani. Here, Kurdish
fighters backed by small numbers of Iraqi peshmerga forces and Syrian rebels, are battling what
they see as an existential battle against the militants who swept into their town in mid-
September as part of a summer blitz that saw the group seize large chunks of territory in Syria
and neighbouring Iraq. (PHOTO: AP)

JAMAICA'S high energy costs and poor infrastructure ranked the country 97th globally, or worse than civil war-torn Syria, according to the Global Energy Architecture Performance Index Report 2015 published by the World Economic Forum (WEF) in collaboration with Accenture Strategy. Switzerland topped the list of 125 nations in the report issued this month. The WEF also publishes the Global Competitiveness Report. Jamaica improved from 112th position in the previous report but still recorded th ... Read More

Why IDB President Moreno's return to Jamaica is big news

BY KEITH COLLISTER | Friday, December 19, 2014    

MORENO… under his leadership, the IDB’s engagement with
Jamaica has dramatically accelerated

THE arrival of Inter-American Development Bank (IDB) President Luis Alberto Moreno in Jamaica yesterday is huge news, on par with the visit of International Monetary Fund (IMF) Managing Director Christine Lagarde in July of this year. In some practical ways, it is even bigger news for Jamaica than Lagarde's arrival, viewed from the perspective of the IDB's enormous and continuing commitment to Jamaica over the past 45 years. This commitment has numbered around 360 individual projects and progra ... Read More

Visiting consultant reviews micro finance project

Friday, December 19, 2014    

Professor Rodolfo Quiros (right), consultant with EAC Consultants based in New York, discussing with executive director of the Jamaica Micro Financing Association (JaMFA), Raymond Gabbidon, aspects of the findings of JaMFA MFIs Round Table Forum on the proposed Micro Credit Act.

A consultant with a New York-based international development consulting firm visited Jamaica earlier this month to conduct a review of the Caribbean Microfinance Capacity Building Project (Carib-Cap III). Professor Rodolfo Quiros of EAC Consultants met with a number of local micro financing institutions (MFIs) during his December 1-6 visit. Carib-Cap III is designed to assist microfinance institutions in the Caribbean and Central America and is co-ordinated by the Inter-American Development Ba ... Read More

LIME positioning to take advantage of US/Cuba relations

Friday, December 19, 2014 7:56 PM    

LIME Jamaica Chairman Chris Dehring

KINGSTON, Jamaica -- Cable and Wireless Communications (CWC) is now positioning itself to take advantage of any business opportunities resulting from the historic re-establishment of diplomatic relations between the USA and Cuba. In a statement today (Friday, December 19) CWC’s Head of Government Relations and Regulatory Affairs and LIME Jamaica Chairman, Chris Dehring, hailed the normalisation of ties between the two countries as a “long anticipated breakthrough in international re ... Read More

Barbados economy on growth path, says finance minister

Friday, December 19, 2014    

SINCKLER... the fiscal consolidation programme had been effective in restoring balance to the foreign exchange market and securing the value of the Barbados dollar

BRIDGETOWN, Barbados (CMC) -- The Barbados Government says the local economy is on a growth path once more and that the fiscal deficit is now on a "downward trajectory". Over the past months, the Freundel Stuart Government has implemented a number of stringent policies including laying off thousands of public servants in a bid to turn around the ailing economy. Finance Minister Chris Sinckler told legislators that the island's fiscal consolidation programme had been effective in restoring bala ... Read More

Antigua tightens Citizenship Investment Programme

Friday, December 19, 2014    

ST JOHN'S, Antigua (CMC) -- The Antigua and Barbuda Government says it will deny citizens from Afghanistan, Iraq, North Korea, Somalia, Yemen, and Iran the right to apply for citizenship under its Citizenship by Investment Programme (CIP). A Government statement said that Cabinet had recently adopted the position that citizens of the six countries "who reside in their country of birth do not qualify". But it opened the possibility for those people to gain Antigua and Barbuda citizenship under ... Read More



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