Business

Fly Jamaica buys second aircraft

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 ... Read More

The LIME Lifestyle store on Half-Way-Tree Road in Kingston. LIME targets US$45 million in operating profit
TELECOMS provider LIME Jamaica aims to make US$45 million (J$5b) in operating profit for its financi ... Read More

A bird’s-eye view of Sandals Royal Caribbean Spa Resort and Offshore Island. Sandals to build Caribbean's first over-the-water suites
SANDALS Resorts International is pumping US$5.5 million into five of the Caribbean’s first ove ... Read More

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. JTB's fall promotion hopes to increase visitor arrivals
THE Jamaica Tourist Board (JTB) is in the third week of a six-month promotion aimed at increasing vi ... Read More

Consumers happy with LIME, dissatisfied with JPS

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

Customers inside the LIME Lifestyle store on Half-Way-Tree Road in Kingston. According to a consumer survey conducted by the OUR, 72 per cent of respondents reported that they were satisfied doing business with LIME.

THE Jamaica Public Service (JPS) and LIME Jamaica came out on opposite ends of the latest consumer survey of utility companies conducted by the Office of Utilities Regulation (OUR). Telecoms provider LIME, which, up to 13 years ago enjoyed a monopoly, ranked the highest in customer satisfaction, while JPS, still a monopoly, was voted worst performing utility company. The National Consumer Survey was conducted between February and March 2014, with 14 service providers and 986 members of the gen ... Read More

Columbus offers IT solution for logistics hub entrepreneurs

Friday, July 25, 2014    

Jamaica’s proposed logistics hub is a crucial part of the country’s development plans.

YOUNG entrepreneurs looking to capitalise on opportunities from Jamaica's logistics hub are urged to consider a revolutionary communication system being offered by Columbus Business Solutions (CBS). The CBS Cloud Voice is a state-of-the-art, Internet-based solution aimed at reducing start-up and operational costs, especially for small business owners, noted Craig Fisher, CBS sales manager, responsible for small and medium enterprises. "The service is for the entrepreneur, the business owner wh ... Read More

St Vincent PM to take over ECCB chair

Friday, July 25, 2014    

GONSALVES… succeeds Prime Minister Dr Kenny Anthony

CASTRIES, St Lucia, (CMC) — St Vincent and the Grenadines Prime Minister Ralph Gonsalves will today take over the chairmanship of the Monetary Council of the Eastern Caribbean Central Bank (ECCB) when the bank convenes its annual general meeting. The chair will be transferred to Gonsalves during the official handing-over ceremony in St Vincent and the Grenadines. Gonsalves will succeed outgoing chairman, Prime Minister Dr Kenny Anthony of St Lucia. Chairmanship of the council is rotated ... Read More

Belize gets US$10-m loan to assist DFC

Friday, July 25, 2014    

BELMOPAN, Belize (CMC) — The capability of the Development Finance Corporation (DFC) has been given a boost with a loan of US$10.5 million from the Caribbean Development Bank (CDB). Among the DFC's lending objectives are the improvement of home ownership, human development and the development of Micro, Small, and Medium-sized Enterprises (MSMEs). MSMEs are fundamental to the economic landscape of Belize and are estimated to account for a significant share of economic activity and employm ... Read More

Get ready to sip Game of Thrones-inspired wines

Friday, July 25, 2014    

Ommegang’s Game of Thrones-inspired beers

First beers, now wines. The Game of Thrones-inspired 'Wines of Westeros' is a project of Australian advertising agency Common Ventures. There are 12 wines (six whites and six reds) named after the houses and characters from the HBO hit series. The wines will be available in time for the Season 5 premiere of Game of Thrones. Each bottle should retail for about US$20. Common Ventures hopes to mirror the success of New York-based Brewery Ommegang's Game of Thrones-inspired beers. Ommegang, with ... Read More

IMF downgrades global growth outlook

Friday, July 25, 2014    

BLANCHARD… it’s really a story of something which has just happened and that is behind us

WASHINGTON, DC, USA (AFP) — The International Monetary Fund (IMF) warned yesterday that geopolitical risks in Ukraine and the Middle East are looming over a global economy already hit by slowdowns in the US and China. After "negative surprises" from the United States and China, the global economy is now expected to grow only 3.4 per cent this year, the IMF said, lowering its April estimate of 3.7 per cent. In 2013, the world economy grew 3.2 per cent. The downgraded 2014 growth ... Read More

Oil falls on worries about US gasoline demand

Friday, July 25, 2014    

Gasoline drips from a nozzle at a gas station, in Lake Oswego, Oregon. The price of oil briefly surged past US$112 a barrel Wednesday, before giving up most of its gains while the US seemed to edge closer to intervening in Syria's civil war. (PHOTO:AP)

The price of oil fell near US$102 a barrel yesterday, erasing gains from the day before. Benchmark US crude for September delivery dropped US$1.05 to US$102.07 a barrel on the New York Mercantile Exchange. On Wednesday, the Nymex contract gained 73 cents after the Energy Department reported a far larger drop in US crude inventories than what analysts had expected. Brent crude for September delivery, a benchmark for international oils, fell 96 cents to US$107.07 on the ICE Futures exchange in L ... Read More

UAE investor signs agreement for million-dollar hotel project

Friday, July 25, 2014    

Prime Minister Gaston Browne (left)and Sheikh Tariq bin Faisal Al Qassimi

ST JOHN'S, Antigua (CMC) -— A memorandum of agreement has been signed with an investor from the United Arab Emirates (UAE) for the construction of a US$120-million hotel. Prime Minister Gaston Browne signed the agreement with Sheikh Tariq bin Faisal Al Qassimi on Sunday after negotiations following Browne's trip to Brazil last week. Al Qassimi signed the agreement on behalf of Al Caribi Development, which will develop a five-star branded luxury resort project on Morris Bay. In a stateme ... Read More

Facebook profit jumps to US$791m, ad revenues US$2.68b

Thursday, July 24, 2014 11:24 AM    

NEW YORK (AFP) -- Facebook stock jumped to record highs Thursday as strong earnings from the leading social network sparked fresh buying. The shares were up 5.6 percent at $75.30 in late morning trade, well above the record of $72.03 hit on March 10. Facebook said Wednesday profits leapt to $791 million during the three months ended June 30 in a 138 per cent increase from a year earlier. Revenue in the quarter surged to $2.91 billion, with approximately 62 per cent of that money coming from a ... Read More

Creating Equity With Your Work

With Cherryl Hanson-Simpson | Thursday, July 24, 2014    

Creating Equity

Marcus was elated when he opened the email from his client. His proposal to create the new brand images for the company had been accepted, and he was looking forward to working on the contract. This job, his most lucrative assignment to date, would help him to overcome some financial difficulties. Marcus was consumed with designing various elements of his client's marketing material; spending long hours conceiving the corporate images that would give the company an updated, modern image. He dev ... Read More



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