Western Union reopens in Cayman via GraceKennedy Money Services

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 ... Read More

The Digicel Group headquarters in downtown Kingston Digicel cuts 51 expat jobs
DIGICEL has confirmed the release of 51 expatriate members of its team with expectations that the po ... Read More

The NCB Atrium on Trafalgar Road in New Kingston NCB makes $12.3 billion in profit despite higher tax on insurance subsidiaries
CHANGES in the income tax regulations affecting its insurance subsidiaries added nearly $1 billion t ... Read More

KOW... we
anticipate a
positive outcome JN Money Transfer to meet with Cayman authorities today
JN Money Services Cayman (JNMS) Ltd says it has written to the Cayman Islands Monetary Authority (CI ... Read More

With question mark over Abengoa...

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

TOMBLIN... our company has
been in full preparation m

The Jamaica Public Service (JPS) yesterday announced that it will be engaging in discussions with other renewable vendors to ensure execution of the planned energy 190 MW Power Plant in Old Harbour, St. Catherine. Chief Executive Officer, Kelly Tomblin in a press release advised the public that Spanish renewable energy and engineering firm Abengoa has filed for protection from creditors - an initial step towards filing for bankruptcy. The company was recently announced as the preferred bidder t ... Read More

'We will hold your feet to the fire'

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

SEAGA... as Jamaicans
we are sick to death of
tribal politics costing us
what we don’t have

A group of 11 organisations — ranging from bankers to church groups and led by the Private Sector Organisation of Jamaica (PSOJ) — have come together to press the Government and the Opposition to commit themselves to responsible fiscal management as an election nears. Citing five principles of good governance to which they want political leaders to adhere, both before and right after the election, the coalition said at a press conference called in Kingston yesterday that they are se ... Read More

Requirements for sustainable growth

BY DENNIS CHUNG | Friday, November 27, 2015    

The road to growth can’t
rely only on large-scale
projects and FDI

The Planning Institute of Jamaica has reported good news that the economy is estimated to have grown by 1.5 per cent for the July to September 2015 quarter. Of note is that the goods sector has grown 4.4 per cent, with manufacturing up 9.7 per cent and agriculture up 3.3 per cent. At the same time the services sector grew 0.6 per cent, with all services growing with the exception of producers of government services, which declined by 0.2 per cent. This performance is not unexpected, as the fisc ... Read More

What does the postponement of the election mean for Jamaica's economy and stock market?

BY KEITH COLLISTER | Friday, November 27, 2015    

Wall Street is showing greater interest in Jamaica (PHOTO: AFP)

FOR the last couple of months, Jamaica has been on an election watch, waiting to see if our prime minister would call an early election by mid-December, with December 10 being a popular suggested date, as it left two clear weeks before Christmas. This speculation ended last Sunday, apparently as a result of two ruling party internal polls suggesting that the Opposition was between 2.0 and 6.0 per cent ahead, compared with the dead heat recorded by noted pollster Bill Johnson some weeks before. ... Read More

Gleaner shareholders vote on merger December 8

BY BALFORD HENRY Senior staff reporter | Friday, November 27, 2015    

RJR headquarters on Lyndhurst Road in Kingston

The Gleaner Company Limited has planned shareholders' meetings for December 8, in response to a court order for holders of ordinary shares to be included in the process of its merger with the RJR Communications Group. In communications distributed earlier this month by the company, the shareholders were informed that two extraordinary general meetings will be held on December 8, at 3 pm and 4 pm. The communications pointed out that the first meeting will be solely for approving the scheme of a ... Read More

KFC Jamaica collects Yum award for highest transactions growth in LAC region

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

A KFC restaurant in Cross Roads, Kingston

RESTAURANTS of Jamaica, operators of the 34-store quick-service chain KFC and Pizza Hut, has collected top awards from Yum! Brands for the highest transaction growth in the KFC Latin America and Caribbean (LAC) region. Mark Myers, managing director of Restaurants of Jamaica, said yesterday that for the period December 2014 to October 2015, Jamaica won for having the highest sales and transactions growth in the region over the previous year (for markets with more than 15 restaurants). The comp ... Read More

IAJ pushes for regulatory and legislative reform

BY JOSIMAR SCOTT Observer writer | Friday, November 27, 2015    

IAJ President Karen Bhoorasingh listens to IAJ's former
President Earle Moore (right), while newly elected president of
Jamaica Association of Insurance and Financial Advisors, Joel
Dixon, looks on.

Having celebrated its milestone 10-year anniversary last week Wednesday at the Jamaica Pegasus hotel, the Insurance Association of Jamaica (IAJ) is adamant that more regulatory and legislative changes are needed to protect the average Jamaican and to further secure the financial subsector. Addressing the gathering at IAJ's 10th anniversary celebration, President Karen Bhoorasingh said: "As we look ahead to 2016, we would like to put some focus on increasing our insurance penetration to the unde ... Read More

Abrahams flows to Amcham

Friday, November 27, 2015    

Gail Abrahams

Gail Abrahams has resigned her position as director of communications and stakeholder relationships at Flow to take up a new role as chief executive officer of the American Chamber of Commerce (AMGRAM) in Jamaica. Abrahams started at Flow in January 2014 as director of corporate communications for Columbus Communications Jamaica, and stayed on after the company merged with LIME, taking on her expanded role last August. Abrahams has more than 20 years of experience in communications and media a ... Read More

Jamaica set to benefit from IDB Green Bond

Friday, November 27, 2015    

IDB headquarters in Washington DC

WASHINGTON, United States (CMC) — Jamaica is the only Caribbean Community (CARICOM) country that will benefit from an Inter-American Development Bank (IDB) multimillion-dollar-funded regional Energy Efficiency Green Bond Facility. The IDB said that it has approved financing to establish the facility and that the programme was selected to receive up to US$217 million in additional funding as one of eight projects worldwide in the first round of allocations announced by the Green Climate F ... Read More

Abengoa shares in free fall as bankruptcy looms

Friday, November 27, 2015    

The Jamaica Public Service Company selected Spanish firm Abengoa to construct a combined cycle power plant near Old Harbour

MADRID, Spain (AFP) — Shares in Spain's Abengoa went into free fall yesterday after it emerged the renewable energy giant is close to bankruptcy following years of unsustainable expansion. Just days before the start of the global COP21 climate conference in Paris, the company announced that a deal with Spanish engineering group Gestamp -- which had been due to inject much-needed cash into the firm -- had fallen through, leaving the renewables giant with a mountain of debt and the threat o ... Read More



Should Dr Fenton Ferguson have been dismissed instead of reassigned to another ministerial portfolio?

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