Business

KPReit invites shareholders to sleepover

A view of the W in Fort Lauderdale, Florida

Moving to stimulate more interest in the company and its properties, Kingston Properties Limited – KPReit – has offered shareholders a 15 per cent discount on hotel stays in Fort Lauderdale. The discount applies to units in the W Fort Lauderdale hotel where rates range from US$250 per n ... Read More

A box of Milk Duds lasts longer than a candy bar How to be a marketing dud
Read the following sentence only once and count the number of “F”s: Finished files are ... Read More

Finance Minister Audley Shaw (left) with IMF Mission Chief for Jamaica Uma Ramakrishnan at the Ministry of Finance last week.Photo: JIS IMF points finger at banks for lack of growth
The International Monetary Fund (IMF) is placing some blame on the island’s banking sector for ... Read More

RICHARDSON...the first female vice chancellor of the University of OxfordPhoto: John Cairns UWI to honour Oxford’s first female vice-chancellor
The University of the West Indies (UWI) announced on Friday that it will confer an honorary doctor o ... Read More

Investment calendar effects and myths

Yanique Leiba-Ebanks | Sunday, May 29, 2016    

MUMBAI, India — A bird flies past Bombay Stock Exchange (BSE) building in Mumbai, India on Wednesday May 25. The myth over not buying in May did not seem to apply as, according to local media reports, the BSE Sensex surged over 550 points.Rafiq Maqbool

This week we will be examining some calendar effects and myths concerning investments. Many of them can be traced back to over 100 years ago, and there are several camps of investors who either believe wholeheartedly in these effects or dismiss them altogether. It is important to note that myths or old wives’ tales originate from some truth. It is therefore good to be aware of the popular ones, so that one can do their own examination to determine the applicability (if any) for timin ... Read More

Paltry pension due to missing NIS contributions

BY CLAUDIENNE EDWARDS Observer writer edwardsc@jamaicaobserver.com | Sunday, May 29, 2016    

A view of Black River, capital of St Elizabeth

Dear Claudienne, I am 65 plus years old and I reside in St Elizabeth. When I retired from nursing in 2009 at age 60, I submitted an application for NIS pension. In July 2011, I started to receive NIS pension cheques fortnightly in the amount of $2,421, 24. In September 2011, I was made aware that due to my professional level at retirement I should have been getting larger fortnightly NIS payments. I then made contact with the Ministry of Labour and Social Security and an officer admitted that ... Read More

Jamaican tech entrepreneurs line up for regional pitch competition

Sunday, May 29, 2016    

Why is Jamaica’s exit from Caricom’s Single Market and Economy not on the
election agenda?

Nine local entrepreneurs are set to compete for a share of US$75,000 ($9.3 million) in cash and prizes in the PitchIT Caribbean Challenge mobile application business competition. The tech entrepreneurs, who were selected from nearly 80 entries from across CARICOM, include nine teams from Jamaica, Trinidad and Tobago, and two teams from Barbados. Also competing is a team from Dominica, St Kitts & Nevis, Guyana and St Lucia. The finalists will pitch to a panel of judges and an audience o ... Read More

The Caribbean Court: an example to Latin America

Sir Ronald Sanders | Sunday, May 29, 2016    

CORREA... has accused the IACHR of “exceeding its authority” in its criticism of harassment of critical journalists who have criticised his regimeDolores Ochoa

Two events at the Organisation of American States (OAS) in recent months have underscored the soundness of the system by which the Caribbean Court of Justice (CCJ) is financed. It is a tribute to Caribbean creativity and innovation that the CCJ is one of the few courts in the world that does not depend on government contributions to function. The example that the CCJ represents should be replicated elsewhere, and the people of the 14-nation Caribbean Community countries should take pride in the ... Read More

Depositors in St Vincent threaten to close RBTT accounts

Saturday, May 28, 2016    

An RBTT in St Vincent

KINGSTOWN, St Vincent (CMC) – St Vincent and the Grenadines’ two main political leaders are urging citizens to seek advice before making a decision on whether or not to withdraw their funds from the RBTT Bank here following a decision by the financial institution to increase fees for its services. Many customers have descended on the bank indicating a willingness to withdraw their funds after the Trinidad-headquartered financial institution announced an EC$25 (One EC dollar=US$0.37 ... Read More

Puerto Rico unveils budget that includes US$200M debt payment

Saturday, May 28, 2016    

SAN JUAN, Puerto Rico — Puerto Rico Governor Alejandro Garcia Padilla delivers his budget address at the Capitol building in San Juan.Photo: AP

SAN JUAN, Puerto Rico (AP) — Puerto Rico’s governor unveiled a stark budget Monday that sets aside more than US$200 million for a critical bond payment as the US territory sinks into a deep economic crisis. The proposed US$9.1 billion budget for the upcoming fiscal year is US$700 million smaller than the current one and calls for nearly US$3 billion in cuts to government operating expenses. Legislators have to approve a budget by July 1, the day a US$2-billion debt payment is due. ... Read More

‘Bourgeois’ cult of beautiful bod grows in Cuba

Saturday, May 28, 2016    

A trainer supervises a woman as she exercises at a gym in Havana on May 17.Photo: AFP

HAVANA, Cuba (AFP) — Inside Armando Yera’s gym, toned Cubans in tight spandex are pumping iron in front of mirrored walls and pedalling furiously on stationary bikes, a scene that looks more Miami than Havana. Yera is one of Cuba’s first competitive bodybuilders and part of its budding class of entrepreneurs. Both activities were long frowned on by the communist regime but are slowly gaining space on a changing island. Visitors to Yera’s two-storey establishment, Mandy& ... Read More

Venezuela crisis draws timid international response

Saturday, May 28, 2016    

CARACAS, Venezuela — Public university students in Venezuela protest the policies of the government of President Nicolas Maduro in Caracas yesterday. Photo: AFP

CARACAS, Venezuela (AFP) — Venezuela is sinking deeper into political and economic chaos, but the international response has been timid so far – and is unlikely to put much pressure on an unbending President Nicolas Maduro, analysts say. So far, the international community’s main plan of action for Venezuela has been to call for a “great national dialogue,” in the words of the former presidents of Spain, Panama and the Dominican Republic, one high-profile group try ... Read More

US ship recycling company to operate in Puerto Rico

Saturday, May 28, 2016    

SAN JUAN, Puerto Rico — A bronze statue of San Juan Bautista stands in front of Puerto Rico’s Capitol as US and Puerto Rican flags fly in San Juan, Puerto Rico.Ricardo Arduengo

SAN JUAN, Puerto Rico (AP) — A US ship recycling company is launching operations in Puerto Rico at an abandoned US naval station on the island’s east coast. Governor Alejandro Garcia Padilla says Marine Environmental Remediation Group plans to invest US$4 million in steel recovery operations and another US$8 million in raw material in the next three years. He said Wednesday that 675 jobs will be created in a two-year period. Garcia said the government provided US$1.5 million worth ... Read More

King’s Moringa catches Pitch crown

BY RICHARD BROWNE Business editor browner@jamaicaobserver.com | Friday, May 27, 2016    

The Moringa Drink Mix product linePhoto: Antonio Graham

King’s Jamaican, makers of Moringa Drink Mix, beat five other contestants at the Jamaica Observer Foodie Seminar to win a $250,000 cash injection from Victoria Mutual Wealth Management. The company, led by former goat farmer Alexander Archer, was unanimously chosen as the company with the best promise at the event. The event was similar in concept to TV shows Shark’s Tank and Dragon’s Den, with contestants – nominees of the Best Product 2016 category for the Jamaica Obs ... Read More



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