Business

Fraud hits the Jamaica Stock Exchange, Bank of Jamaica

The Jamaica Stock Exchange in downtown Kingston

Both the Jamaica Stock Exchange (JSE) and the Bank of Jamaica (BOJ) have given notice of fraudulent emails in circulation which purport to give advice on funds being held which are available for collection. In a notice posted on its website, the JSE notes, “It has come to the notice of the J ... Read More

Michael McMorris (right) chairman of VMBS, makes a point to (from left) Danville Walker, managing director of the Jamaica Observer, Phillip Gore, chairman of Gore Developments, and Keith Duncan CEO of JMMB. Private sector focuses on improving economy
Private Sector Organisation of Jamaica (PSOJ) president William Mahfood says that the three primary ... Read More

Seprod Group Managing Director Melanie Scott-Subratie (centre) shares a sample of an International Biscuit Company product, from the company’s new $285-m plant, with Prime Minister Andrew Holness (left) and Minster of Industry, Commerce, Agriculture and Fisheries Karl Samuda (right).joseph wellington Seprod plans to penetrate Caricom market with baked products
In what was described as a “rebirth of a manufacturing facility”, the Seprod Group offic ... Read More

Caricom headquarters in Georgetown, Guyana That Caricom issue: Jamaica -Trinidad relationship
The recent impasse between Jamaica and Trinidad, arising out of the latest round of Jamaicans being ... Read More

Jamaica Producers sees tropical snacks as hard currency driver

BY AVIA COLLINDER Business reporter collindera@jamaicaobserver.com | Wednesday, May 04, 2016    

A range of St Mary’s products

Jamaica Producers Group said in its just released annual report that a weakening of the euro was influential on revenues which – in total – shifted downwards by one per cent year over year in 2015. Revenues were impacted by a 12 per cent weakening of the euro which accounts for approximately 53 per cent of the group’s revenues. However, when adjusted for exchange differences arising on translation of all subsidiaries’ financial statements, the underlying revenue growth w ... Read More

Kingston Live Entertainment sells Famous Nightclub

Wednesday, May 04, 2016    

An internal view of the Famous Night Club in Kingston

Famous Nightclub which was operated by Kingston Live Entertainment Limited (KLE) at its location in Portmore, St Catherine, was sold in January this year. The sale was disclosed in year-end financials published this week. The company continues to restructure its operations with a view to regaining profitability. The largest shareholder with 23.17 per cent of the company is Josef Bogdanovich, the investor who recently bought the rights to Jamaica’s largest reggae show, Reggae Sumfest, and ... Read More

Eppley targets $317 million with rights issue

BY AVIA COLLINDER Business reporter collindera@jamaicaobserver.com | Wednesday, May 04, 2016    

Nigel Clarke, chairman of Eppley

On Tuesday May 3 boutique lender Eppley Ltd announced a renounceable rights issue to existing ordinary stock unit holders of up to 487,703 new ordinary shares priced at $650 each. These will be made available to the shareholders on the record date for the rights issue which is Friday May 6, 2016. If all units are taken up, the company should raise $317 million in fresh capital. The price on the new issue represents a premium on the current trading price of $580.76, the closing price on Monday ... Read More

PM Holness breaks ground for BPO complex in MoBay

BY HORACE HINES Staff reporter hinesh@jamaicaobserver.com | Wednesday, May 04, 2016    

Prime Minister Andrew Holness (third left, with shovel), Phillip Paulwell to his left; and Dr Guna Muppuri (5th right), participate in breaking ground for a US$12 BPO complex  in Freeport, Montego Bay, last week.

Prime Minister Andrew Holness recently broke ground for the construction of a US$12-million BPO ICT complex in Freeport, Montego Bay. He hailed the investor, Dr Guna Muppuri, for his courage in taking the plunge with the colossal investment, while challenging others to follow. “Jamaica needs more risk-takers. And so, I want to applaud you and congratulate you for taking a risk on Jamaica,” Holness expressed during his keynote address at the recent groundbreaking ceremony. Accordin ... Read More

GraceKennedy promises to roll out mobile wallet in 2016

Wednesday, May 04, 2016 5:18 PM    

KINGSTON, Jamaica — GraceKennedy Group Ltd (GK), which through its money services arm GraceKennedy Money Services (GKMS) controls just over 50 per cent of the remittance market in Jamaica, has indicated in its just released 2015 annual report that it will deploy its mobile wallet in 2016. Mobile wallet will allow transactions to be conducted through cellular phones, precluding the need to stand in line at remittance agencies. Jamaicans received $2.3 billion in remittances during 2015. "W ... Read More

Choosing the right salespeople (Part 1)

BY HERMAN D ALVARANGA | Wednesday, May 04, 2016    

A flashy salesman is not necessarily the right person for the job

“Gone are the days when salespeople required simple presentation and closing skills to be successful.” — Jobber and Lancaster (2012) THE TOP 10 SUCCESS FACTORS IN SELLING A critical issue for aspiring and current salespeople and sales managers is an understanding of the key success factors in selling. Research by Marshall, G. W., Goebel, D. J. and Moncrief, W. C. (2003) ‘Hiring for success at the buyer-seller interface’, showed the following 10 top success factor ... Read More

Chalmers settles into new Sandals role

Wednesday, May 04, 2016    

Andrew Chalmers

Andrew Chalmers is now CFO for Projects and Developments at the Sandals Group, reporting to group CFO Alan Clark. Chalmers will be primarily responsible for the financial oversight of the Projects Department including the financial modelling of projects, the design and implementation of control and reporting measures, the review of contracts, and the safeguard of assets of the Group. Chalmers previously worked in finance and corporate governance at Sandals starting in 2011. Prior to that he ... Read More

Corporate governance in micro, small and medium-sized enterprises

Simone Bowie Jones | Wednesday, May 04, 2016    

SMEs are varied

Corporate governance (CG) generally refers to the system of rules, practices and processes by which a company is directed and controlled. All enterprises, corporate or not and regardless of size, can benefit from a well-structured system of management and control, which is the basis of good governance. It is with this premise in mind that the Private Sector Organisation of Jamaica (PSOJ) published a Corporate Governance Code for Micro, Small or Medium-Sized Enterprises, (MSMEs) in February of ... Read More

A testament: Scholarship winner turns young investor

BY RENEE BARNETT | Wednesday, May 04, 2016    

From left are Romario Sterling (Student to Young Investor), Emprezz Golding (Talk Up Yout) and SSL members Mark Croskery (CEO), Kris Andrew Brown and  Talong Yong (Service Team) atSSL head offe on Hope Road in Kingston.

Many may say investing is for rich folk or even old folk; however, this could not be any more false. Investing is for everyone — everyone should have an investment account just as almost everyone has a savings account. It has become our culture to teach youth from early that they need to save, but we forget to teach them everything else about managing their finances. Saving is not the be all and end all and it won’t get anyone to their goal of financial freedom. Yes, saving is imp ... Read More

Good social media etiquette 101 — Part 1

Hanniffa Patterson | Wednesday, May 04, 2016    

NEW YORK, United States — This file photo taken on May 17, 2012 shows a Facebook logo seen through the windows of the NASDAQ stock exchange.Photo: AFP

In only a few years an online presence has become the norm not an exception. We market online, sell online, we reach out, we connect and we build relationships online. In fact, social media is simply people building relationships but through another medium — that of an online platform. However, many forget that though this interaction is taking place in a virtual context certain rules of courtesy still apply. To help address this, here is a list of tips for good social etiquette to be ... Read More



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