Business

Doing Business with Family and Friends

Would you feel more satisfied with your life if you had a devoted family and great friends but had little to show in the wealth column, or if your net worth made you extremely wealthy but you were estranged from your closest relatives and colleagues or lacked genuine companionship? For many people, ... Read More

COX… the pitching scenarios will obtain in a
closed setting Entrepreneurs assured of confidentiality at matchmaking expo
ENTREPRENEURS hoping to participate in the first Financial Information and Real-Time Matchmaking (FI ... Read More

Richard Byles, co-chair of the Economic Programme Oversight Committee (EPOC), reckons the local currency needs only slide by roughly six per cent this year to maintain its competitiveness. EPOC says private sector concerns on GCT changes addressed
THE country's Economic Programme Oversight Committee (EPOC) says it is now satisfied that concerns r ... Read More

MCKAY... This is the kind of programme that will help to keep
previous customers loyal, while attracting new ones. Ads Global eyes listing
LOCAL outsourcing firm, Ads Global, wants to list on the Jamaica Stock Exchange. First, it plans to ... Read More

Self Start Fund resumes lending to MSMEs

BY ARLENE MARTINWILKINS Associate editor — news martina@jamaicaobserver.com | Wednesday, August 20, 2014    

SAMUELS... we are open to applicants who are in the
productive and other related sectors

THE Self Start Fund (SSF) has resumed lending after a year’s suspension during which time it sought to lower its high delinquency rate and strengthen its internal systems. The 31-year-old SSF lends to existing and start-up micro, small, and mediumsized businesses, particularly those in the agriculture, manufacturing, agroprocessing and ICT and animation sectors. Credit analyst and marketing officer at the fund, Ammesha Samuels, said much of the past year was spent on restructuring the fu ... Read More

Fly Jamaica expanding

BY STEVEN JACKSON Business reporter jacksons@jamaicaobserver.com | Wednesday, August 20, 2014    

Fly Jamaica
expanding

FLY Jamaica aims to service a major South American city with the acquisition of its new aircraft. The route expansion will allow the airline to maintain a higher passenger count without having to hunt to fill seats servicing competitive US cities, acording to Paul Ronald Reece. The airline’s CEO said that the move would attract Latin tourists travelling into Montego Bay. “There are millions in that city who want to travel,” he said while officially declining to release the ... Read More

Purity, Miss Birdie exports up by 25% in June quarter

BY KARENA BENNETT Business reporter bennettk@jamaicaobserver.com | Wednesday, August 20, 2014    

Purity Products

CONSOLIDATED Bakeries' brands of Easter bun helped boost export sales by 25 per cent during the three months to June 30. The bakery is trying to extend the export of bun beyond Eastertime to all year round. The maker of Purity baked products has also been seeing success with its Miss Birdie brand of corn, snack and wheat crackers in the overseas market. "We are also testing the market with the Purity spiced buns and other single unit baked products," Consolidated's business development manger ... Read More

SSL spins off cambio, remittance company

Wednesday, August 20, 2014    

DOLLA Financial Services, as the new
operation is called, will be established at
the Barbican Business Centre.

STOCKS and Securities Limited (SSL) is spinning off its cambio and remittance services into a separate company. It plans to establish DOLLA Financial Services, as the new operation is called, at the Barbican Business Centre. The company will still be wholly owned by SSL, but allowing it to operate on its own will allow the financial advisory and wealth management firm to focus on its core business, according to Mark Croskery. “With the establishment of DOLLA, SSL will be able to have a ... Read More

Jamaican carves out clothing niche online

KARENA BENNETT Business reporter bennettk@jamaicaobserver.com | Wednesday, August 20, 2014    

CLARKE... I’m not a casual girl, all of my styles and designs are
outfit worthy styles.

TARIKE Clarke generates a significant amount in revenues annually from her online clothing business. The Jamaican-born designer’s high fashion apparel has recently landed her multiple contracts on popular children’s clothing site, Zulily.com. Clarke, owner of Boosh Limited and Baby Boosh Limited, invested US$5,000 back in 2009, to start operations of Boosh after migrating to Florida. Boosh carries men’s and women’s clothing and accessories from different designers, wh ... Read More

AmCham opens nominations for Business and Civic Leadership Awards

BY KARENA BENNETT Business reporter bennettk@jamaicaobserver.com | Wednesday, August 20, 2014    

Executive Director of AmCham Becky Stockhausen (right) has a tete-a-tete with Mauricio Pulido,
CEO of GB Energy, the title sponsor of AmCham Business and Civic Leadership Awards .
(PHOTO: BRYAN CUMMINGS)

THE American Chamber of Commerce of Jamaica (AmCham) yesterday opened nominations for the AmCham Business and Civic Leadership Awards 2014. The event, which is now in its fifth year, is aimed at celebrating and encouraging philantrophy and corporate social responsibility in Jamaica, and will take place on Thursday, October 23, at the Jamaica Pegasus Hotel. “We join in highlighting and awarding people who are doing great work through corporate social responsibility, civic leadership and ... Read More

VMBS sees dramatic fall in foreclosures

Wednesday, August 20, 2014    

Michael McMorris

VICTORIA Mutual Building Society (VMBS) recorded a three-quarters drop in property foreclosures last year. It signals greater resilience by homeowners during an austere economy affected by heavy currency depreciation. "The building society also enabled more members who were facing financial difficulties to retain ownership of their homes," said VMBS in a statement about its year ended December 31, 2013. "Foreclosures on properties totalled 10 last year, compared to 37 the year before." Its no ... Read More

Dolphin Cove profit rises 35%

Wednesday, August 20, 2014    

Dolphin Cove
profit rises 35%

DOLPHIN Cove posted $139 million in net profit for the three months to June 30. Earnings for the quarter represented 35 per cent growth over the comparative period in 2013. A representative of the water-based attraction told the Jamaica Observer that the upturn in profits resulted from a management decision to pump greater investments in sales and marketing of the attraction. Increased marketing efforts resulted in increased "numbers of tourist visiting the establishment, but a noticeable in ... Read More

Carib cement back in the red

Wednesday, August 20, 2014    

Carib cement back in the red

CARIBBEAN Cement Company is back in a loss position. The cement manufacturer incurred an $89-million net loss for the three months to June 30. Carib returned to profitability in the quarter ending June 30, 2013, when it earned $360 million in net income, primarily as a result of debt forgiveness by its parent company. But its profit has been shrinking since. It posted a $170-million net profit for the three months to September 30, 2013, and earned $82 million in the last quart ... Read More

Cash-strapped song publisher C2W Music makes profit for the first time

Wednesday, August 20, 2014    

Ivan Berry

SONG publisher C2W Music posted its first net profit since listing on the Jamaica Stock Exchange (JSE) some two years ago. The net income of US$16,600 for the three months to June 30 primarily resulted from management foregoing their salaries. They also avoided jet-setting to regional songwriting workshops during the quarter. The start-up started to earn royal payments during the three-month period. "The company is happy to announce that we have started to recognise revenue," said C2W CEO Iv ... Read More



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