Three years for school leavers to find stable work

Commonwealth trade study
says look to Asia

A joint study conducted by the Statistical Institute of Jamaica (STATIN) and the Planning Institute of Jamaica (PIOJ) has revealed that it takes an average of 32 months or roughly three years for school leavers to successfully transition into stable employment. The disclosure was made by the head o ... Read More

GRANT... revenues have been steadily increasing this year Nationwide waste renewal sees gold in recycling
MARLON Grant, owner and CEO of Nationwide Waste Services (NWS) Ltd, says he continues to see a prof ... Read More

An aerial view of
downtown Kingston
and the waterfront UDC seeks entrepreneur to develop Festival Marketplace in Downtown Kingston
GIVING a deadline of December 8, the Urban Development Corporation (UDC) is now inviting application ... Read More

Your first house doesn’t need
to be a mansion — such as
this one at Tryall in Hanover. Summing up the path to wealth
"Do not save what is left after spending, but spend what is left after saving. If you buy things you ... Read More

Diaspora investment company tests Jamaican waters

BY HOWARD CAMPBELL Observer writer | Sunday, November 29, 2015    

Larkland Campbell (left) and Derrick Mason of Small Start Investing

DIRECTORS of a New York investment company have described a recent visit to Kingston for meetings with Jamaica's trade minister and budding entrepreneurs as promising. Larkland Campbell, founder and CEO of the L'Cress Group, said he and Chief Operating Officer Derrick Mason were pleased with the response to programmes presented by its subsidiary, Small Start Investing (SSI). "Things have slowly picked up. I wouldn't say it's overwhelming, but it's definitely promising," said Campbell. Campbel ... Read More

Investing in a rising interest rate market

Eugene Stanley | Sunday, November 29, 2015    

NEW YORK, United States — Piper, daughter of New York
Stock Exchange Senior Vice President Douglas Foley, meets
Santa Claus from the Macy's Thanksgiving Parade, on the floor
of the NYSE last Wednesday. (PHOTO: AP)

IT has been nearly a decade since the US Federal Reserve Bank (Fed) last increased interest rates, and for years everyone involved with investing has wanted to know: When will the Fed raise interest rates? Some pundits had suggested the Fed would have initiated lift-off shortly after it concluded its asset purchase programme or quantitative easing (QE) in October 2014. But, despite the solid gains in the US economy in 2014 (average monthly job gains in excess of 200,000, and accelerated growth ... Read More

Central banks must pursue inflation targeting — CaPRI

BY AVIA COLLINDER Business reporter | Sunday, November 29, 2015    

The Bank of Jamaica in downtown Kingston

A document authored by the Caribbean Policy Research Institute (CaPRI), entitled "A Covenant for Fiscal responsibility, Good Governance and Social Inclusion" and published this month says that fiscal accountability is needed to underpin gains made in the Jamaican economy. The paper outlines a number of principles to which any ruling party must commit to defend gains made in the last three years. It highlights inflation targeting as an important part of any fiscal programme, stating that the c ... Read More

Scotiabank refunds backdated charges

With Claudienne Edwards | Sunday, November 29, 2015    

Scotiabank on King Street in downtown Kingston

Dear Claudienne, In September 2015 I went to the Spanish Town branch of the Bank of Nova Scotia to reactivate my dormant account. The customer service representative advised me that I would be charged approximately $750 as backdated payment for having an account at the bank, as all customers have to pay a monthly fee. She said that the total fee would depend on the type of account I had. She also advised me that my account was a savings account, which I disputed, as I had switched to an electro ... Read More

Switzerland's super rich getting richer: report

Sunday, November 29, 2015    

Tina Turner is one of
Switzerland’s richest people

Geneva, Switzerland (AFP) — Morose economic growth and a turbulent stock market have not stopped Switzerland's super rich from getting a lot richer this year, a report showed Friday. In its annual analysis of the fortunes of Switzerland's 300 richest people, the Bilan magazine said the exclusive club, including the likes of rock and soul legend Tina Turner, have swelled their combined wealth by six billion Swiss francs (US$5.8 billion) to reach a record 595 billion Swiss francs. Topping ... Read More


Sunday, November 29, 2015    

The Digicel Group headquarters in downtown Kingston

The story published in the Caribbean Business Report last Friday on Digicel releasing 51 expatriate members of its team and filling those positions with Jamaicans gave the impression that the individuals named in the story are among those affected. Digicel has made it clear that these members of their team are not affected by the decision. We regret the inference. Read More

Western Union reopens in Cayman via GraceKennedy Money Services

BY AVIA COLLINDER Business reporter | Friday, November 27, 2015    

A view of George Town, Cayman

ON Wednesday November 25, GraceKennedy Money Services (GKMS), a subsidiary of GraceKennedy Limited and authorised agent of Western Union, announced its expansion into the Cayman Islands. Michelle Allen, Chief Executive Officer of GKMS, said that the company will initially have a total of four locations in Grand Cayman and one in Cayman Brac, all opening from Monday to Saturday. Under the 25-year-old partnership, GKMS now represents Western Union in ten countries across the Caribbe ... Read More

Digicel cuts 51 expat jobs

BY KARENA BENNETT Business reporter | Friday, November 27, 2015    

The Digicel Group headquarters in downtown Kingston

DIGICEL has confirmed the release of 51 expatriate members of its team with expectations that the positions will be taken up by locals. The telecoms company did not specify whether the outgoing individuals occupied managerial positions, but noted that the majority of the team members had completed their contracts while others were transferred to the company's South Pacific operations. "To be clear, a small number of non-Jamaican staff are leaving the business and will be replaced by Jamaican t ... Read More

NCB makes $12.3 billion in profit despite higher tax on insurance subsidiaries

BY AVIA COLLINDER Business reporter | Friday, November 27, 2015    

The NCB Atrium on Trafalgar Road in New Kingston

CHANGES in the income tax regulations affecting its insurance subsidiaries added nearly $1 billion to tax assessed, year over year, for the National Commercial Bank Limited, but the group still managed to post net profit of $12.3 billion for the financial year ended September 30, 2015. As explained in notes attached to the audited financial statements, with effect from January 1, 2015, the group's life insurance subsidiary became subject to income tax on its taxable profits at a rate of 25 per ... Read More

JN Money Transfer to meet with Cayman authorities today

Friday, November 27, 2015    

KOW... we
anticipate a
positive outcome

JN Money Services Cayman (JNMS) Ltd says it has written to the Cayman Islands Monetary Authority (CIMA) to facilitate the company to once again offer transactions in Cayman Islands (CI) dollars to its customers in Cayman, according to a JN news release. Leesa Kow, managing director of JNMS, says the company has requested CIMA's support to be able to exchange CI dollars for US dollars. "We made a similar request of CIMA in August, prior to implementing US dollar-only transactions; however, they ... Read More



Should the Government implement a tax to finance the health sector?

View Results »


Today's Cartoon

Click image to view full size editorial cartoon