Business

Caribbean Flavours says share sale designed to fast-track growth

COTTERELL… we see a lot of energy and synergies between the two firms which we can enhance

CARIBBEAN Flavours & Fragrances (CFF) board members have explained that selling nearly half the company to Derrimon Trading would fast-track its growth. The board, however, avoided listing specific growth targets over the medium term. "It's an investment. We are working with the team at CFF to ... Read More

Sushil Jain addressing Mayberrry’s forum on entrepreneurship Wednesday
night at the Knutsford Court Hotel in Kingston. Mayberry director urges Jamaicans to shed poverty mentality
ACCOUNTANT Sushil Jain wants Jamaicans to think rich in order to remove the mentality of poverty fro ... Read More

ROSS… head of Sterling Investments Ltd Sterling sees profit dip, but interest income grows
The Charles Ross-led Sterling Investments Ltd (SIL) suffered from reduced foreign exchange (fx) gain ... Read More

Dr Wayne Henry (left), vice-president government affairs at Scotiabank; Dr Shane Alexis
(centre), president of the Medical Association of Jamaica; and Dennis Chung, CEO of the Private
Sector Organisiation of Jamaica (PSOJ), share a funny comment following the PSOJ President’s
Forum at the Jamaica Pegasus Hotel in Kingston on Tuesday. (PHOTO: LIONEL ROOKWOOD) Doctor wants greater spend on health care
Dr Shane Alexis believes the Government should spend at least three times its current budget on heal ... Read More

Cloud benefits far outweigh the risks

Friday, November 28, 2014    

Ative Ennis, head of enterprise solutions at Digicel Business,
speaking at the 2014-2015 Leaders-to-Leaders Speaker Series
at the Jamaica Pegasus Hotel in Kingston on Wednesday.

As many as 80 per cent of businesses can cut costs by up to 20 per cent using cloud computing, according to the European Commission. Consequently, five million jobs are expected to be generated worldwide as companies adopt the technology. "We're already preparing for jobs that don't even exist as yet," Ative Ennis, head of enterprise solutions at Digicel Business, was quoted in a news release from the telecoms giant. According to Digicel, many companies in Jamaica still view cloud technology ... Read More

Jamaica's fundamental challenges

DENNIS CHUNG | Friday, November 28, 2014    

Dennis
Chung

One of the things I pointed out early in my second book is that before we can solve a problem we need to understand what the fundamental issues are. I say that because over the years I find that we tend to address the symptoms of our problems rather than the underlying issues. This is also true when we engage in debate about what solutions are to be applied. I guess that's because some of us are not able to really understand the issues. I do find that this is not only a national problem, but a ... Read More

US shoppers go in for the kill on 'Black Friday'

Friday, November 28, 2014 8:56 AM    

Black Friday shoppers in New York City (Photo: AFP)

LEESBURG, United States (AFP) — The traditionalists don't like it, but the "Black Friday" shopping frenzy is as much a part of the Thanksgiving holiday in the United States as turkey and pumpkin pie. And it's only Thursday. Americans will spend tens of billions of dollars over the four-day holiday and there was certainly no messing about at Leesburg Corner, a Virginia outlet centre only a short drive from the US capital Washington. There was hardly time for the roast turkey and stuffing ... Read More

Several Caribbean countries complete CFATF review

Friday, November 28, 2014    

GEORGETOWN, Guyana, (CMC) — The review process implemented by the Caribbean Financial Action Task Force (CFATF) and the International Co-operation Review Group (ICRG) has been completed by several countries in the region. According to Guyana's Attorney General Anil Nandlall, Antigua and Barbuda, Dominica, Grenada, St Kitts and Nevis, and Trinidad and Tobago have all graduated out of the CFATF/ ICRG review process. Guyana remains the only country in the CFATF grouping that was referred to ... Read More

MIIC focusing on standards issues, says Hylton

Friday, November 28, 2014    

(From left) Minister of Industry, Investment and Commerce
Anthony Hylton, and Claudiene Trace, general manager for
strategic services at the Development Bank of Jamaica, show
off their newly purchased MSME discount card at the launch
last Thursday at the Courtleigh in New Kingston. At right is
president of the Micro, Small and Medium-Sized Enterprises
Alliance, Donovan Wignal.

MINISTER of Industry Investment and Commerce Anthony Hylton says that his ministry is now undertaking an initiative that will focus on strengthening key agencies and departments involved with standards development. He said that this requires targeted attention to matters such as export certification and capacity building, as the United States' Food Safety and Modernisation Act (FSMA) has placed stringent requirements on the industrial sector. "But, we have been working to make all our industri ... Read More

Mitchell projects 2.6% growth this year

Friday, November 28, 2014    

MITCHELL… we have seen strong growth in revenues

ST GEORGE'S, Grenada (CMC) — The Grenada economy is likely to grow by 2.6 per cent this year, Prime Minister Dr Keith Mitchell has said. Delivering the 2014-15 national budget on Wednesday, Mitchell told legislators that the preliminary economic growth figure is higher than the average 1.4 per cent given by the Eastern Caribbean Currency Union (ECCU). He said it is also better than the 1.5 per cent projected when his Administration presented the 2014 fiscal package. Mitchell said that t ... Read More

Taiwan funds projects in rural St Lucia

Friday, November 28, 2014    

ANTHONY… these projects are indispensable in bringing
Christmas cheer to St Lucians

CASTRIES, St Lucia (CMC) — Taiwan has made available EC$5.4 million to fund development projects in rural communities across St Lucia. The disbursement will cover the cost of 52 projects to be undertaken in various communities. So far, 92 projects have been completed under the Community Development Programme (CDP) in 2014. Ambassador to the Republic of China (Taiwan), James Chang, said he is pleased that the programme has had the desired impact of improving community infrastructure. "Fr ... Read More

Pro-market economist named Brazil's new finance minister

Friday, November 28, 2014    

BRASILIA, Brazil — Brazil’s newly named Finance Minister
Joaquim Levy speaks during a press conference at the Planalto
presidential palace, in Brasilia yesterday. Brazilian President
Dilma Rousseff named the top banker and former treasury
secretary with a reputation as a fiscal conservative as finance
minister, her office said yesterday, in a move that’s widely seen
as charting a new course for Brazil’s flagging economy and is
expected to soothe jittery financial markets. (PHOTO: AP)

BRASILIA, Brazil (AFP) — Brazilian President Dilma Rousseff yesterday named Joaquim Levy, widely regarded as a pro-market figure, to be her new finance minister as her Government looks to steer the economy out of recession. Levy, 53, was previously chief executive officer of Bradesco Asset Management (Bram), part of Brazil's second-largest private bank. The president's office also announced Rousseff had kept Alexandre Tombini as central bank chief and named Nelson Barbosa as planning min ... Read More

WTO agrees to implement trade reform pact

Friday, November 28, 2014    

World Trade Organisation (WTO) Director-General Roberto Azevedo pauses while delivering his speech during the closing ceremony of the ninth WTO Ministerial Conference in Bali, Indonesia, on December 7.

GENEVA, Switzerland (AFP) — Ending months of deadlock, the World Trade Organisation (WTO) agreed yesterday to implement the first global trade reform agreement in its 19-year-history. The deal means the 160-member global trade body can begin putting into action a landmark deal reached in Bali late last year to overhaul global customs procedures. Economists have estimated the measures could help create US$1.0 trillion in economic activity and 21 million jobs worldwide. "We are back on tr ... Read More

Seek and you will find

With Cherryl Hanson-Simpson | Thursday, November 27, 2014    

"Ask and it will be given to you; seek and you will find; knock and the door will be opened to you." — Matthew 7:7 Some persons think that if they have clear financial goals which they would like to accomplish, then they should not experience too many obstacles en route to success. They believe that if they come upon challenges which make the process difficult, then their goals were not destined to be realised. There will be occasions when no matter how desperately you wish for your dr ... Read More



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