Business

Rainforest Seafoods to launch into St Vincent and the Grenadines

Prime Minister Andrew Holness (right) shakes hands with Chief Executive Officer (CEO) of Rainforest Seafoods Brian Jardim following a tour of the company’s manufacturing facility on Slipe Road, Kingston, on Wednesday. (Photo: JIS)

Rainforest Seafoods Ltd has announced that it will be investing approximately US$10 million in an expansion project at their Montego Bay plant, and will soon launch a new plant in St Vincent and the Grenadines, according to a news release. This announcement was made by Brian Jardim, CEO, Rainforest ... Read More

A view of Port of Spain in Trinidad Hawkeye breaks into T&T security market
Sean Clacken, CEO of Hawkeye Security Ltd, indicated this week that security expert Joseph Smith ha ... Read More

Norvasc is the Pfizer version of the hypertension drug Tension rises as Lasco/Medimpex battle postponed to September
Shareholders of local traders Lasco Distributors and Medimpex Jamaica will have to wait at least ano ... Read More

Harding poses (Bryan Cummings) Mara Made Designs — bringing life to fallen wood
The company name Mara Made Designs announces the identity of Tamara Harding’s dream enterpri ... Read More

We need a serious approach to development

Dennis Chung | Friday, July 29, 2016    

Infrastructure development, such as the new North-South highway  can help Jamaica move ahead.

The current government has economic growth as its main thrust. The phrase coined by the Growth Council — “Five in four” — refers to the objective to have five per cent growth in four years. If this is achieved this would be a significant boost to our economic fortunes, and already we are seeing increased economic activity and higher levels of business and consumer confidence. As a part of the boost to economic activity, the government has started to implement it’s ... Read More

Jamaica beyond the IMF — confidence, access to capital and partnership (Part 3)

BY KEITH COLLISTER | Friday, July 29, 2016    

LONKENG... the IMF is focussed on on growth,job creation and crime

At the Private Sector Organisation of Jamaica annual economic seminar of July 12th, Minister of Finance Audley Shaw stated that the Government intended to negotiate a staff-monitored programme (SMP), defined as an informal and flexible instrument for dialogue between the International Monetary Fund staff and a member country on its economic policies, rather than a disbursing programme like the current Extended Fund Facility (EFF). The logic appeared to be that Jamaica did not currently have a ... Read More

Massive food imports arrive in Venezuela from T&T

Friday, July 29, 2016    

SAN CRISTOBAL, Venezuela — Tebie Gonzalez puts away groceries she bought in Colombia, at her home in San Cristobal, Venezuela, Monday. Photo: AP

PORT OF SPAIN, Trinidad and Tobago (AFP) — Trinidad and Tobago sent approximately 68 tonnes of food and commodities to crisis-hit Venezuela last week, with hundreds more tonnes set to arrive in the coming days, a Venezuelan official said. Venezuela, which is enduring severe shortages of food and other basic commodities, will receive 600 tonnes of goods from Trinidad and Tobago under a trade agreement. The embattled South American country is grappling with an economic crisis prompted by t ... Read More

Venezuela to reassign private, public workers to agriculture sector

Friday, July 29, 2016    

CARACAS, Venezuela — Members of the Venezuelan Opposition shout slogans during a march to demand electoral power to activate the recall referendum against President Nicolas Maduro in Caracas on Wednesday. (Photo: AFP)

CARACAS, Venezuela (AFP) — Venezuela on Tuesday said private and public companies will be obliged to let their workers be reassigned to grow crops, in a dramatic move in the middle of the country’s crippling economic crisis. The Labour Ministry announced the measure as part of the economic emergency already in effect; it will require all employers in Venezuela to let the State have their workers “to strengthen production” of food. President Nicolas Maduro’s Govern ... Read More

Record favourable prospects for the economy — JCB survey

BY JOSIMAR SCOTT Observer writer | Wednesday, July 27, 2016    

MCMORRIS... IPOs have been a self-reinforcing message for businessesPhoto: Aston Spauldng

Optimism in the Jamaican economy remains at record highs for both businesses and consumers, with the Jamaica Conference Board’s Business & Consumer Confidence Indices for the second quarter of 2016 reporting “record favourable prospects for the economy”. Firms remained more optimistic than in any other survery during the past 15 years — with the sole exception of last-quarter’s all-time peak, the survey said, while consumer conficence rose to its third highest ... Read More

Mahfood denies selling out to T&T during Rowley’s visit

BY BALFORD HENRY Senior staff reporter balfordh@jamaicaobserver.com | Wednesday, July 27, 2016    

MAHFOOD… this prepares them for the work world in the future

President of the Private Sector Organisation of Jamaica (PSOJ) William Mahfood has denied suggestions that he “sold out” to Trinidadian Prime Minister Keith Rowley, during the prime minister’s visit to Jamaica last week. “I just want to make it clear that I didn’t sell out to Prime Minister Rowley,” Mahfood told PSOJ members and guests at his final President’s Forum as the head of the organisation, at the Jamaica Pegasus Hotel in New Kingston, yesterda ... Read More

Quality Works finds sweet spot in software testing

BY AVIA COLLINDER Business reporter collindera@jamaicaobserver.com | Wednesday, July 27, 2016    

KIRK... We have a high bar in terms of hiring so it takes time and effort to find the right person

QualityWorks Consulting Group LLC, a software test consultancy firm based in Los Angeles, which expanded operations to Kingston, Jamaica, in 2015 from its home base in Los Angeles, has added clients in the United States, UK, and Jamaica in one year since hitting the outsourcing market. Founder Stacy Kirk is of Jamaican parentage. The enterprise addresses a growing deficit in the US software Quality Assurance industry. Computer science graduates and American Quality Assurance (QA) professionals ... Read More

Public sector reform does not have to mean job losses

BY RICHARD BROWNE Business Editor browner@jamaicaobserver.com | Wednesday, July 27, 2016    

LONKENG... the IMF is focussed on on growth,job creation and crime

Public sector reform doesn’t have to result in significant job losses, according to Dr Constant Lonkeng Ngouana, the new resident representative of the International Monetary Fund (IMF) in Jamaica. Public sector reform is a “key pillar of the programme” he said, noting that targets had been set in the agreement with the government, in a meeting with members of the press on Friday at the Jamaica Pegasus Hotel in New Kingston. But the potential loss of jobs in government may no ... Read More

Hangover from restructuring tempers Caribbean Cement results

Wednesday, July 27, 2016    

Caribbean Cement in Rockfort on the Kingston Harbour

Caribbean Cement Company Ltd (CCC) posted net profit of $220.56 million for the second quarter ended June 2016, compared to $621.34 million realised in the similar period for 2015. The significant change, directors said, was connected to stockholding and inventory restructuring costs resulting in an expense of $402.4 million. Year to date, however, for the six months of the cement makers financial year, profit rode ahead of the similar period in 2015. The group reported consolidated profit b ... Read More

Bessa soon to break ground

BY AVIA COLLINDER Business reporter collindera@jamaicaobserver.com | Wednesday, July 27, 2016    

CEO of KLE Gary Matalon

Kingston Live Entertainment (KLE) group said this week that groundbreaking is imminent for Bessa, a resort project which has been in gestation since 2013. Described as a lifestyle-themed boutique villa community, the project is a joint venture with Sagicor Life Jamaica. It is slated for an eight-acre ocean and river-front property in St Mary, and planned to feature 45 units, inclusive of bedroom swim-up suites, condos and four-bedroom villas. On Monday in the second quarter report filtered th ... Read More



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