Business

PM announces seven new BPO projects

HOLNESS

MONTEGO BAY, St James — Prime Minister Andrew Holness says there are at least seven new Business Process Outsourcing (BPO) projects in the pipeline, which should significantly expand the sector and create many new jobs. Holness pointed out that he is integrally involved in the seven projects ... Read More

PSOJ’s newly elected president, Paul B Scott PB Scott is new PSOJ president
Chairman and CEO of the Musson Group of Companies, Paul B Scott, was yesterday elected the 18th pres ... Read More

Newly appointed director general of the Planning Institute of Jamaica, Wayne Henry (left), with deputy director general, Richard Lumsden. (Photo: Joseph Wellington) PIOJ predicts 1.3% growth for 2016
Newly appointed director general of the Planning Institute of Jamaica (PIOJ), Wayne Henry, anticipat ... Read More

WALKER... whatever is showing in Jamaica will broadcast simultaneously in Trinidad and Barbados Business Access TV goes regional to air in Trinidad, Barbados
Wealth Magazine-owned Business Access Television has entered an agreement with Digicel Play to air i ... Read More

Jamaican Teas eyes markets in Panama and Mexico

Friday, August 26, 2016    

Instant Jamaican sorrel with ginger, whole dried sorrel and cocoa-nut, (coconut flavoured cocoa) are products recently introduced by Jamaican Teas Limited under its Caribbean Dreams brand.

Jamaican Teas, producer of Jamaican sorrel with ginger instant drink mix, is eyeing Panama and Mexico as export markets for the company’s newest addition to its line of products. The Jamaican origin of the sorrel product could help boost sales particularly in Mexico, where sorrel is closely associated with the island as it is known as ‘Flor de Jamaica’. Earlier this year, Jamaica Teas introduced instant Jamaican sorrel with ginger, cocoa-nut, (coconut flavoured cocoa) and wh ... Read More

1834 Investments (formerly The Gleaner) makes 1st quarter profit

BY BALFORD HENRY Senior staff reporter balfordh@jamaicaobserver.com | Friday, August 26, 2016    

1834 Investments Ltd has announced a pre-tax profit of approximately $56 million for the period April-June, 2016. This compares positively with the $49 million loss the company experienced over the same period last year after shedding its media business and changing its name from the Gleaner Company Ltd to 1834 Investments Ltd. The group’s profit after taxation for the first three months of 2016 was approximately $52 million, compared with a profit of approximately $8 million for the sam ... Read More

Iran interested in proposed Chinese-built canal in Nicaragua

Friday, August 26, 2016    

Iran’s foreign minister Mohammad Javad Zarif (third left) is welcomed by the Nicaraguan Foreign Affairs Minister Samuel Santos (second left) in Managua, Nicaragua, on Tuesday. (Photo: AFP)

MANAGUA, Nicaragua (AFP) — Iranian firms want to participate in the construction of a massive canal across Nicaragua that a Chinese company has v owed to build, Iranian Foreign Minister Mohammed Javad Zarif said Tuesday. Representatives of private Iranian construction companies accompanying Zarif on a visit to Nicaragua’s capital discussed the possibility of getting a slice of the US$50-billion project, the minister told a news conference. The ambitious plan calls for a waterway l ... Read More

Bermuda benefits as travellers avoid Zika

Friday, August 26, 2016    

A view of a pink sand beach in Bermuda

NEW YORK, United States (AP) — With Government officials now warning pregnant women to avoid Miami Beach in addition to Puerto Rico, some sun seekers are desperately scrambling for a Zika-free vacation. And that has left other tourist destinations to capitalise — quietly. Travel experts say families worried about Zika are now looking to Arizona and Southern California to get some sun, along with cooler weather locales such as New England and Canada. The Zika virus is transmitted b ... Read More

Spotlight: Iran looks to bolstering economic ties with Latin American countries

Friday, August 26, 2016    

SANTIAGO, Chile — Iran’s Foreign Minister Mohammad Javad Zarif (left) speaks with his Chilean counterpart Heraldo Munoz in Santiago on Thursday. (Photo: AFP)

CARACAS, Venezuela (Xinhua) — Iran’s Foreign Minister Mohammad Javad Zarif is on a six-nation tour to Latin America in a bid to bolster economic ties with countries in the region, months after an internationally brokered nuclear agreement helped lift economic sanctions against it. “It’s logical that since the embargo (against Iran) has been lifted, it is seeking to expand” economic ties, Georges Zade, an author and commentator on Middle East affairs, has told Xin ... Read More

Ship fire cut a link between Puerto Rico, Dominican Republic

Friday, August 26, 2016    

SAN JUAN, Puerto Rico — Smokes spills from the cruise ship Caribbean Fantasy off the coast of San Juan, Puerto Rico, Wednesday, August 17. (Photo: AP)

SAN JUAN, Puerto Rico (AP) — A busy commercial link between Puerto Rico and the Dominican Republic has been severed by the fire last week aboard the only passenger ferry serving the route. The fire that started August 17 in the engine room of the Caribbean Fantasy apparently did not do any structural damage to the vessel, though it forced more than 500 passengers and crew to abandon the ship about a mile off the northern coast of Puerto Rico. But Joey Jimenez, a spokesman for ferry operat ... Read More

Shaw dismisses Phillips’ fears about 13th IMF test

Thursday, August 25, 2016    

Audley Shaw, Minister of Finance

MINISTER of Finance and the Public Service Audley Shaw has described as “wild, mischievous and without substance”, the Opposition’s questioning whether the country has done enough to pass the latest International Monetary Fund (IMF) test. “In fact, in questioning the status, the former minister is attacking not only the Government of Jamaica, but the IMF,” Shaw said in a release issued last night. He was reacting to comments made by Opposition spokesman on finance ... Read More

Hart urges gov’t not to ignore social infrastructure in US$40-m port expansion

Thursday, August 25, 2016    

HART ... The last thing we want to do is grow the city without the roads, without housing

Prominent Montego Bay businessman Mark Hart is urging Government to ensure that the US$40 million project to improve the Montego Bay Port goes hand in hand concurrently with social infrastructural developments. Hart made the call following the announcement last week by Dr Horace Chang, minister without portfolio in the Ministry of Economic Growth and Job Creation, that the Port Authority of Jamaica will make the investment to transform the Montego Bay Port into a regional multi-purpose port. ... Read More

Dolphin Cove has big plans for Prospect Outback Adventure

BY KARENA BENNETT Business reporter bennettk@jamaicaobserver.com | Wednesday, August 24, 2016    

Regional director of Jamaica Dolphin Cove Ocho Rios, Alex Raygoza (Photos: Garfield Robinson)

Dolphin Cove will be relaunching its Ocho Rios venue, Prospect Outback Adventure, as an all-inclusive theme park in a bid to increase tourist interest in the destination. Already, the listed company has invested roughly US$2 million in the upgrading of its park in Jamaica as part of plans to make Dolphin Cove the signature attraction in the country. “This is part of a long-term plan which is consistent with our long-term commitment to the community. We want all our guests to take home ... Read More

Firms wait to list on Junior Market of Jamaica Stock Exchange

BY AVIA COLLINDER Business reporter collindera@jamaicaobserver.com | Wednesday, August 24, 2016    

The Jamaica Stock Exchange in downtown Kingston

Gary Peart, CEO of Mayberry Investments Ltd, indicated yesterday that the company has “several” firms waiting for listing on the Junior Market of the Jamaica Stock Exchange (JSE). However, the prospectus for each of these companies cannot be released until new legislation revising market incentives are passed in Parliament. The Junior Market Incentive ended for new Junior Market listings (companies) on March 31, 2016. The new government has promised to reinstate it. “We are w ... Read More



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