Business

LIME offers premium services for multi-office firms

Tony Adbo (left), regional director of business solutions at Cable and Wireless Plc, discusses the newest addition to LIME's data services portfolio with (from second left) Julian Robinson, state minister in the Ministry of Science, Technology, Energy & Mining; Norman Naar, head of LIME Business; and Bridgette Wright, SME sales executive; during last week’s data connectivity seminar at the Knutsford Court Hotel in Kingston.

LIME last week unveiled its most advanced networking solution, 'Global Connect', designed to deliver a rich array of data connectivity services to power multi-office businesses. Ideally suited for regional and multi-national businesses, LIME said it will offer simultaneous transmission of data, VoI ... Read More

CHANG… regarded as one of Jamaica’s most generous philanthropists A business leader with a heart, says prime minister
PRIME Minister Portia Simpson Miller yesterday expressed 'deep sadness' at the passing of Jamaican-b ... Read More

Sweet River Abattoir & Supplies Company Managing Director Valdence Gifford. Sweet River Abattoir seeks $180m from public offer
SWEET River Abattoir & Supplies Company Ltd aims to raise up to $180 million in its initial publ ... Read More

NCB denies sending clients’ info to TAJ NCB denies sending clients' info to TAJ
The National Commercial Bank (NCB) says it has not been providing Tax Administration Jamaica (TAJ) w ... Read More

JN prepares for transformation

Sunday, July 27, 2014    

Earl Jarrett, general manager, Jamaica National Building Society addressing members during the 140th Annual General Meeting held at the Jamaica Pegasus Hotel in Kingston on July 23.

JAMAICA National Building Society (JNBS) General Manager Earl Jarrett says the organisation is anticipating a response to its application for a commercial banking licence from the Bank of Jamaica (BOJ) soon. Speaking to members of the society at its 140th Annual General Meeting last Wednesday at the Jamaica Pegasus Hotel in New Kingston, Jarrett revealed that JNBS had resubmitted its application to the BOJ in November 2013. The application, he said, details a concept to transform the JN Group ... Read More

DBJ moves to finalise venture capital framework

BY TERRON DEWAR Business reporter dewart@jamaicaobserver.com | Sunday, July 27, 2014    

MATALON… DBJ working with stakeholders

THE Development Bank of Jamaica (DBJ) is in the final stages of cementing the recommendations it hopes will guide the legal and regulatory framework in establishing a venture capital/private equity (VC/PE) industry in Jamaica. According to DBJ Chairman Joseph Matalon, the bank has been "working with stakeholders" and, in particular, the Financial Services Commission (FSC) and the Ministry of Finance and Planning to concretise the recommendations for implementation. Matalon told the Jamaica Ven ... Read More

How mutual funds work — part 2

Sunday, July 27, 2014    

WE have often spoken about mutual funds in this space and we thought of revisiting this in light of changes to come in respect of collective investment schemes. Although Jamaicans have primarily invested in unit trusts there have been several mutual funds on the market, and today we'll take a closer look at particular classifications of mutual funds. Mutual funds can be categorised according to the assets they invest in, or the indices or industries they track among a multitude of other details ... Read More

And now, Season 2 of Financially Focused

Sunday, July 27, 2014    

It takes a team. Mark Anderson, vice-president of treasury at First Global Bank and contributor to the Round Up segment of the show, poses with Dennise Williams and Erica Crawford Bryan at the Regency Bar and Lounge which hosted the Season 2 launch.

Season Two of the television programme Financially Focused, hosted by Dennise Williams, was launched last Tuesday at the Regency Bar & Lounge at the Terra Nova All Suite Hotel. And now, Season 2 of Financially Focused --> Read More

Used-car blues

With Claudienne Edwards | Sunday, July 27, 2014    

A Corporate Area used-car dealership. (FILE PHOTO)

Dear Claudienne, I am a mechanic and I live in St James. In May I travelled to a mid-island town and bought a 1995 Honda Civic motor car that was advertised online. The car was being sold by a used-car company. While checking the vehicle on a ramp I discovered that it had been cut and reassembled here in Jamaica. The number on the chassis appeared to match the number on the registration papers. However, when I tried to buy parts for the vehicle on the Internet and typed in the chassis number, ... Read More

New US law allows unlocking of cellphones

Sunday, July 27, 2014    

LEAHY… says the bill puts consumers first, promotes competition in the wireless phone marketplace, and encourages continued use of existing devices

WASHINGTON, DC, USA (AFP) — US consumers will be allowed to unlock their cellphones and move them to a new carrier, under a law adopted on Friday to fix a perceived glitch in copyright law. The House of Representatives approved the measure unanimously one week after Senate passage of the bill, sending the legislation to President Barack Obama. Under the Unlocking Consumer Choice and Wireless Competition Act, users will be able to unlock handsets and switch carriers without fear of prosec ... Read More

Fly Jamaica buys second aircraft

Friday, July 25, 2014    

Fly Jamaica’s new Boeing 767 300ER at the Norman Manley International Airport in Kingston.

DRIVEN by its commitment to providing air transportation within the Caribbean and to North America, Fly Jamaica Airways has acquired a second aircraft which, the airline says, it intends to put into service as soon as it gets all the regulatory approvals. The Boeing 767 300ER adds to the Boeing 757 which the carrier now utilises to provide daily scheduled service to New York, Toronto, Guyana and Jamaica. "We're roughly flying 80 hours a week," Captain Paul Ronald Reece, chairman and CEO, told ... Read More

LIME targets US$45 million in operating profit

BY STEVEN JACKSON Business reporter jacksons@jamaicaobserver.com | Friday, July 25, 2014    

The LIME Lifestyle store on Half-Way-Tree Road in Kingston.

TELECOMS provider LIME Jamaica aims to make US$45 million (J$5b) in operating profit for its financial year ending 2015, or 80 per cent more year on year. Hitting that target, however, falls short of guaranteeing dividends to shareholders. "We plan to do US$45 million, that's our plan, and in our business if you plan to do something, you better do it," CEO Garry Sinclair told more than 200 shareholders at the annual general meeting (AGM) on Wednesday. Jamaican companies rarely announce target ... Read More

Sandals to build Caribbean's first over-the-water suites

BY KARENA BENNETT Business reporter bennettk@jamaicaobserver.com | Friday, July 25, 2014    

A bird’s-eye view of Sandals Royal Caribbean Spa Resort and Offshore Island.

SANDALS Resorts International is pumping US$5.5 million into five of the Caribbean’s first over-the-water suites and the renovation of 14 suites at Sandals Royal Caribbean in Montego Bay. Dubbed Sandals Royal Caribbean Spa Resort and Offshore Island, the suites will be located on a private island offshore the main resort. Each suite will feature a private outdoor jacuzzi tub and shower, a hammock, and steps leading from the sundeck straight into the Caribbean Sea. The interiors will boas ... Read More

JTB's fall promotion hopes to increase visitor arrivals

Friday, July 25, 2014    

A child enjoying the water slide at Beaches Ocho Rios. Tourists who wish to unwind this fall can choose Jamaica’s varied offerings as part of this new destination deal.

THE Jamaica Tourist Board (JTB) is in the third week of a six-month promotion aimed at increasing visitor arrivals over the usually slow fall period. "This promotion is of strategic importance because fall, which spans September to November, is the slowest period for the tourism industry," Deputy Director of Tourism Sandra Scott told the Jamaica Observer. Aptly titled 'Fall in Jamaica', the promotion, which started on July 1, offers visitors discounts of up to 50 per cent at more than 30 parti ... Read More



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