Business

Pengelley calls for 10% tax rate on Junior Market

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 J ... Read More

Medical Disposables makes $230-m investment
LISTED company Medical Disposables & Supplies Ltd (MDS) doubled its warehouse capacity with the ... Read More

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) Label Crafts starts out on growth strategy
BEVERLEY Lopez, past president of the Private Sector Organisation of Jamaica (PSOJ), now heads Label ... Read More

Wind farm in St Elizabeth Vestas secures 36MW order in Jamaica; project will become country's largest wind farm
VESTAS has received a firm and unconditional 36.3MW order for 11 units of the V112-3.3MW turbine 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

OIL price slump creates major economic challenge for Trinidad — IMF

Friday, January 30, 2015    

Central Bank of Trinidad and Tobago

PORT OF SPAIN, Trinidad (CMC) — The International Monetary Fund (IMF) says the recent changes in the energy markets represent a major "economic challenge" for Trinidad and Tobago, whose exports are heavily linked to those markets. An IMF delegation, headed by Elie Canetti, advisor in the IMF Western Hemisphere Department, has ended a one-week visit here. Canetti said, although it is difficult to know where the markets will settle, the drivers of energy price declines appear likely to end ... Read More

Charter airline Phoenix to have scheduled Caribbean flights by 2016

Friday, January 30, 2015    

INTRA-REGIONAL travel in the Caribbean could be in for a boost with the coming on stream of a fully fledged scheduled passenger airline in less than two years. Phoenix Airways, which currently operates charter services to destinations such as Aruba, Antigua, Anguilla, Barbados, Dominica, Dominican Republic, St Maarten, Tortola, St Kitts, St Croix, San Juan, Trinidad and St Thomas and international destinations such as Miami, New York, Toronto, London, Paris and beyond, have earmarked December 2 ... Read More

New Year's Resolution #4: Earn More

With Cherryl Hanson-Simpson | Thursday, January 29, 2015    

Over the past weeks we have been examining some of the key money goals that you should have on your 2015 resolution list. If you really want to avoid the disappointing results of past years, then you must understand exactly what is required to put you on a positive financial path. One problem that can be very frustrating for persons who want to achieve their financial objectives is that they just don't have enough income to do everything they would like to. As the saying goes, "It takes cash to ... Read More

JAMPRO promises 'dealmaking' investment forum this year

Thursday, January 29, 2015 6:39 PM    

KINGSTON, Jamaica — Jamaica Promotions Corporation (JAMPRO), Jamaica’s trade and investment agency says it is anticipating a successful 2015 Jamaica Investment Forum (JIF), which is scheduled for March 10-12 at the Montego Bay Convention Centre in St James. The event is Jamaica’s premier international investment and business conference. It is designed for eager investors and business executives, who want to discover business opportunities and industry developments, learn about ... Read More

Rickards says political bias in selection of EU Sugar Programme projects

BY HORACE HINES Observer West reporter | Thursday, January 29, 2015    

RICKARDS... projects are
politically selected

DUANVALE, Trelawny — Chairman of the All-Island Jamaica Cane Farmers' Association Allan Rickards (AIJCFA) says a number of the projects financed by European Union (EU) money under the Sugar Transformation Unit (STU) in the Ministry of Agriculture, are politically selected for the benefit of the cane farming communities. "Frankly we think some of the choices are political. I might as well say it," Rickards said. He was speaking at the Duanvale Cane Farmers Group's annual general meeting h ... Read More

Sea-island cotton cultivation set to treble

BY KARENA BENNETT Business reporter bennettk@jamaicaobserver.com | Wednesday, January 28, 2015    

Vitus Evans, CEO of JADF (centre) shows Ambassador of
Japan His Excellency Yasuo Takase (left) and the Minister of
Agriculture and Fisheries, Derrick Kellier the grant-funded
equipment currently in use on the cotton farms.
(PHOTO: BRYAN CUMMINGS)

THE Jamaica Agricultural Development Foundation (JADF) hopes to have an additional 700 acres of sea-island cotton under cultivation by the end of 2016. Chief Executive Officer of JADF, Vitus Evans, stated that the foundation expects to increase the cotton cultivation acreage from the current 300 acres to 1000 acres, in anticipation of its vision to have 5000 acres of cotton under production by 2018. What's more, the CEO stated that he hopes to create additional value for the sea-island cotton ... Read More

UK CEO tells government to fund social enterprises from dormant bank accounts

BY KARENA BENNETT Business reporter bennettk@jamaicaobserver.com | Wednesday, January 28, 2015    

HOLBROOK... we had a law
passed in the UK which
allowed social enterprises to
be financed through dormant
bank accounts

Peter Holbrook, Chief Executive Officer of Social Enterprise UK, reckons that the Jamaican government could use the funds of dormant bank accounts as a capital base for the country's existing and potential social enterprises. Holbrook, who was speaking at the opening ceremony for Jamaica’s first Social Enterprise Summit at the Jamaica Pegasus Hotel in Kingston on Monday, recommended that the government benchmark a policy that has earned social enterprise in the United Kingdom more than &p ... Read More



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