Business

Hi-Lo enters expansion mode

GK chief executive Don Wehby points out a Grace product to Hi-Lo chief executive Omar Barrientos at the official opening of their newly renovated Hi-Lo supermarket in Manor Park, Kingston, on Friday (PHOTO: BRYAN CUMMINGS)

The Hi-Lo Supermarket chain, owned by the GraceKennedy Group (GK), aims to expand to new locations over the next few years amid officially opening its first in a series of renovated stores on Friday. "We are in expansion mode and will look carefully at new locations in the next few years. So we are ... Read More

Rainforest employees processing lobster tail for export to the US market. Rainforest to export live J'can lobsters to Asia
RAINFOREST Seafoods will begin exporting live Jamaican lobsters to Asian markets by July. Markets ar ... Read More

Chong... a huge discount for consumers Honey Bun cuts bread prices in anticipation of cost savings
The listed bakery, Honey Bun Ltd, has now cut the price of its signature 'Shordy' bread by more than ... Read More

Jamaica National building. Organisations offer help for start-ups
Dear Claudienne I am seeking information pertaining to organisations that assist persons to start s ... Read More

Career Ladder

Sunday, February 01, 2015    

William Saunders and Robert Whitehorne

Saunders builds new career William Saunders is now settling into his position as general manager of LS Duhaney and Company, a Kingston-based retailer and wholesaler of electrical and lighting products. He has now completed his first six months. A trained architect, Saunders was previously an architect for Buildwise from 2012 to 2014, and technical manager for Palgay Caribbean from 2009 to 2012. While a senior architect at MODE Ltd from 2000 to 2009, Saunders was the local lead architect for t ... Read More

Whither US Interest rates? - The 2015 update

With Kevin Richards | Sunday, February 01, 2015    

In this October 2, 2014 photo, the statue of George Washington on the steps of Federal Hall faces the facade of the New York Stock Exchange. US stocks are opening higher Thursday, January 8, 2015, following good news on jobs and more hopes of stimulus in Europe. (PHOTO: AP)

IF you like bonds, then the direction of key interest rates is a factor to watch. About 18 months ago, I wrote in this space about where I expected US interest rates to end up in 2014. What I wrote back then was "What is true also is that the days of 1-handle benchmark interest rates are over. Where the consensus lies is that yields will remain over 2.50 per cent p.a. on 10-year US Treasury rates and could break the three per cent threshold before year end. This is largely driven by a market r ... Read More

The MBA Forum — LEADERSHIP (Part 2)

Dr Kenroy WEDDERBURN | Sunday, February 01, 2015    

A bronze statue of Britain's World War II leader Sir Winston Churchill, by sculptor Ivor Roberts-Jones, stands in Parliament Square, London, Friday, Jan 23, 2015. The 50th anniversary of the death of Churchill was recently marked. He twice served as Britain’s Prime Minister and died in London aged 90 on January 24, 1965. (PHOTO: AP)

I start with the premise that the function of leadership is to produce more leaders, not more followers -- Ralph Nader AS indicated in the previous article, MBA programmes typically have a course on Leadership, which provides knowledge about leadership theories, styles, behaviours and characteristics. Given the critical role played by the leadership in any organisation, much attention should also be placed on leadership development. The MBA student should not just be satisfied with ingesting so ... Read More

Pengelley calls for 10% tax rate on Junior Market

BY KARENA BENNETT Business reporter bennettk@jamaicaobserver.com | Friday, January 30, 2015    

PENGELLEY... we need to look at the implications

PRESIDENT of the Jamaica Manufacturing Association (JMA) Brian Pengelley is calling on Government to consider a 10 per cent tax rate for companies looking to list on the Junior Stock Market. Up to two years ago, Pengelley was a part of the Private Sector Working Group (PSWG) led by then president Joseph M Matalon, which supported the removal of waivers across much of the economy, including the junior market, in an effort to raise total taxes to Government. The junior stock market currently pro ... Read More

Medical Disposables makes $230-m investment

BY STEVEN JACKSON Business reporter jacksons@jamaicaobserver.com | Friday, January 30, 2015    

LISTED company Medical Disposables & Supplies Ltd (MDS) doubled its warehouse capacity with the purchase of a $230-million property on Hagley Park Road. The purchase will consolidate activities under one roof. "It's definitely a move to facilitate further growth," stated general manager Kurt Boothe in a Jamaica Observer interview on Wednesday. "You have to have the infrastructure in place to support any further growth. Its an investment in the company." MDS currently occupies six units at ... Read More

Label Crafts starts out on growth strategy

Friday, January 30, 2015    

Printing press staff at Label Craft Ltd including Andre Nelson, finishing operator (left), Titan Hodges, finishing operator, Oneil Walford, machine operator, and Courtney Ferguson, press operator. (PHOTO: ANTONIO GRAHAM)

BEVERLEY Lopez, past president of the Private Sector Organisation of Jamaica (PSOJ), now heads Label Crafts Jamaica Ltd, a newly formed label packaging printery infused with US$1 million ($115 m) and 10 staff members. "My mandate is to grow the business as much as I can, to appeal to small and medium-sized exporters," stated country manager Lopez at the Half-Way-Tree head office in Kingston on Wednesday. The Observer reported last week that Barbadian- based Goddard Enterprises Group invested a ... Read More

Vestas secures 36MW order in Jamaica; project will become country's largest wind farm

Friday, January 30, 2015    

Wind farm in St Elizabeth

VESTAS has received a firm and unconditional 36.3MW order for 11 units of the V112-3.3MW turbine for the BMR Jamaica wind project in St Elizabeth. The order was placed by the US-based project developer BMR Energy. The contract comprises the supply, installation and commissioning of the wind turbines as well as civil and electrical works for the construction on the project. An interconnection transmission line will be constructed separately by the local utility. Turbine delivery is planned for ... Read More

IDB promotes access to equity through Jamaica's junior stock exchange

Keith Collister | Friday, January 30, 2015    

Finance Minister Peter Phillips (left) signs IDB agreement with IDB country representative Therese Turner - Jones (centre) and JSE general manager Marlene Street Forrest. (PHOTO: BRYAN CUMMINGS)

The most important tangible outcome of the recent Jamaica Stock Exchange (JSE) Investment and Capital Markets Conference 2015 was last week Thursday's signing by a team from the Multilateral Investment Fund (MIF)/Inter-American Development Bank (IDB), to provide non-refundable technical assistance of US$563,75. That represents just under half the cost of a joint programme with the JSE to improve small and medium-sized entities; (SME's) access to equity, out of an overall cost of US$1.138 millio ... Read More

JBG aims to recover $830M silo investment by 2022

BY KARENA BENNETT Business reporter bennettk@jamaicaobserver.com | Friday, January 30, 2015    

Two of the silos recently constructed at the JGB’s Old Harbour Mill (PHOTOS: MICHAEL GORDON)

THE Jamaica Broilers Group (JBG) hopes to recover its $830 million grain silos investment over the next seven years. The company, which recently constructed three 6,000-metric tonne grain silos at its Old Harbour-based mill, has commenced preliminary layout for the fourth silo which is expected to be completed by April, bringing its total storage capacity to 24,000 metric tonnes. Last year, JBG broke ground for the construction of six grain silos to improve on the storage capacity for raw mate ... Read More

National Land Agency implements global standards for property valuation

Friday, January 30, 2015    

Neil Shah, Managing Director, RICS Americas; Elizabeth Stair, CEO, Jamaica National Land Association; Michael Zuriff, RICS Americas Manager of Regulation

WASHINGTON D.C. - As a result of high-level talks between the Royal Institute of Chartered Surveyors (RICS) and the National Land Agency of Jamaica, the NLA has agreed to two important RICS standards initiatives: the International Property Measurement Standard and Valuer Registration. As a result, valuation of property -- both residential and commercial -- in Jamaica should be on firmer footing overall, which in turn could help strengthen the nation's business climate in the country and draw fo ... Read More



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