Business

Financial institutions must guard against fraud — Felice

FELICE… what you should
do is institute preventative
measures

JUSTIN Felice, the chief technical director in the Financial Investigation Division (FID), Ministry of Finance and Planning, says financial institutions need to put measures and strategies in place that will safeguard their operations against the incidence of fraud. These, he suggested, should incl ... Read More

Opposition Senator Kamina Johnson-Smith (right), head of corporate affairs and projects at Lime
Jamaica and member of the iLead project advisory committee, makes a point during the first
meeting of the committee, held recently at the Jamaica National Building Society’s chief office
in Half-Way-Tree, St Andrew. Listening (from left) are: Sharon Wolfe, committee member and
director, Alumni and Development at Mico University College; Earl Jarrett, general manager,
Jamaica National; Andrew Holness, Opposition leader and chairman of the iLead project advisory
committee; Dr Renee Rattray, JN Foundation education director. JNBS leads new project to tackle underperformance in schools
THE Jamaica National Building Society (JNBS) will tomorrow launch the iLead education leadership pro ... Read More

GAYLE BITU seeks meeting on flight attendants' dispute
THE Bustamante Industrial Trade Union (BITU) is seeking an urgent meeting with the management of Car ... Read More

The new Apple Watch is shown by a model on a treadmill during a new product release on Tuesday, September 9, 2014, in Cupertino, California. (Photo:AP) AP review: Apple Watch looks to be another winner
CUPERTINO, California (AP) -- As computerized wristwatches go, the upcoming Apple Watch looks impres ... Read More

Three Jamaicans vying for tech start-up funds reach semi-finals of global contest

KARENA BENNETT Business reporter bennettk@jamaicaobserver.com | Sunday, September 14, 2014    

Sheldon Duncombe, one
of the semi-finalists in
the GIST Tech-I
competition 2014.

Three Jamaicans who are competing for US$15,000 ($1.6 million) are semi-finalists in the Global Innovation through Science and Technology (GIST) Tech-I competition. They are among a field of 67 contestants. Jermaine Henry, Dmitri Dawkins and Sheldon Duncombe hope to change Jamaica's economic landscape by creating efficiencies and reducing operation costs in various sectors. Dawkins is pitching a technology, research and development firm which practises lean start-up methodology to create solu ... Read More

Big collection boost needed tomorrow to cover 75% shortfall on business tax

Sunday, September 14, 2014    

Big collection boost needed tomorrow
to cover 75% shortfall on business tax

TAX Administration Jamaica (TAJ) would need to collect $900 million on Monday to meet the budgeted target for the small business tax. With the September 15 deadline tomorrow, only $300 million of the targeted $1.2 billion has so far been collected, said Meris Haughton, Director of Communications at TAJ. The shortfall, which amounts to 75 per cent of the budgeted target, was expected. "Because it was a new tax, we did not anticipate that we would have gotten half of that amount at the June 15 ... Read More

What's in a credit rating?

With Dian Blackwood | Sunday, September 14, 2014    

What's in a credit rating?

2014 has seen more people becoming more educated and aware of things they would have one time taken for granted. When choosing a movie the trailer alone is just not enough to make the decision to spend two hours of our precious time, so now time is taken to read reviews and check the credits. When shopping online or taking a vacation at a new place we take extra care to read reviews and ask around to make sure that our money will be well spent. The same is true when investing our hard- earned fu ... Read More

Careful not to buy TVs without the box... Warranty doesn't cover cracked screens

With Claudienne Edwards | Sunday, September 14, 2014    

Dear Claudienne, I was shopping for a television and visited the Courts St Ann's Bay branch. While I was pondering what to buy, a salesperson at the store introduced me to the Smart television brand. On August 5, 2014, when I went back to the store to buy a new LG47 Smart television I was told by the agent that the branch did not have that size in the Smart brand. The branch only had a display LG47 Smart TV and I was encouraged to buy it as there was nothing wrong with it. The agent said th ... Read More

SMEs to get access to web portal for financing

Sunday, September 14, 2014    

SMEs to get access to
web portal for financing

Dr William Lawrence (left), Director, professional services unit, Mona School of Business and Management (MSBM), University of the West Indies, attorney-at-law Shirley-Ann Eaton, and Milverton Reynolds, managing director of the Development Bank of Jamaica (DBJ) participate in the signing ceremony of an agreement between the DBJ and MSBM on a $14.4 million project to create a website to provide information on financing options and sources to small and medium-sized enterprises (SMEs). Jamaican SME ... Read More

Digicel completes purchase of Caribbean fibre network

Sunday, September 14, 2014    

Digicel completes purchase of Caribbean fibre network

DIGICEL got the regulatory nod to buy a submarine fibre network from Guadeloupe-based Loret Group and Caribbean Fibre Holdings. Nine months after inking the deal, the acquisition is now complete. The regional telecommunications company said that the completion of the deal marks another major step in its "ongoing evolution from a pure mobile provider to a global complete communications provider". It follows the recent announcements of several cable TV and broadband acquisitions in the region. ... Read More

A footbal pitch that powers its own lights

Sunday, September 14, 2014    

Children play football on a new-technology pitch installed at Mineira favela in Rio de Janeiro,
Brazil. Two hundred self-energy-supplied panels, invented by Lawrence Kembell-Cook, were
installed underground to capture kinetic energy created by the movement of the football players.

RIO DE JANEIRO, Brazil It may only be a modest patch of land, but a Rio slum is laying claim to having the first football pitch in the world with floodlights generated by player movement. The innovation, unveiled in the presence of Pele, is courtesy of a new technology called Pavegen, which can harvest energy from people's footsteps. An AFP reporter witnessed its inauguration Wednesday at Mineira, a favela -- or slum area -- near central Rio. Brazil great Pele said: "The whole world started ... Read More

Women vital for global recovery — Lagarde

Sunday, September 14, 2014    

IMF chief Christine
Lagarde. (PHOTO: AP)

TOKYO, Japan EMPOWERMENT of women and equal opportunities are crucial for driving a stronger global economic recovery, and for revitalising Japan, the head of the International Monetary Fund said Friday. The global recovery is too tepid and too turbulent, IMF chief Christine Lagarde told a gathering organised by the Japanese government and business groups to support Prime Minister Shinzo Abe's campaign to promote a bigger role for women in the economy. "Even after the crisis abates, we will f ... Read More

Why fund managers are sad you're not on vacation

Sunday, September 14, 2014    

An auxiliary nurse midwife prepares a vaccine shot during the weekly health check-up clinic, in the village Purani Panapur in
Patna district in the Indian State of Bihar. Socially responsible bond funds make investments that help to protect the
environment and society, including vaccination programmes for children around the world. (PHOTO: AP)

NEW YORK, USA — YOUR stock-fund manager wishes you'd buy more fun things. Most mutual funds are failing to keep up with broad market indexes again. It's a trend that's gone on for years, and the most recent struggles for portfolio managers may be due to their preference for companies that sell coffee, make travel reservations and otherwise focus on non-essentials for consumers. These stocks have had some of the year's weakest performances. That, plus some other trends from around the mut ... Read More

Guyana defends decision to end contract with Indian company

Sunday, September 14, 2014    

Guyana flag

GEORGETOWN, Guyana THE Indian construction firm, Surendra Engineering Corporation (SECL), Thursday denied allegations that it had submitted false documents to the Guyana government in order to secure a multi-million dollar contract to construct a hospital here. The government said that the firm had submitted a document purporting to come from the Central Bank of Trinidad and Tobago in accordance with the provisions of the contract that required certain securities to be provided by the contract ... Read More



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