Business

Supreme Court resumes hearing on compensation for Lasco/Medimpex

The hypertension drug case resumes tomorrow 

The Supreme Court is scheduled to resume hearing statements from witnesses for pharmaceutical giant Pfizer in the hypertension drug case involving Jamaican distributors Lasco and Medimpex tomorrow at King Street. Justice Viviene Harris is expected to hear further evidence from Ronald Camps, a form ... Read More

A BPO centre 
Conduent to shutter Amazon unit, redeploy workers
The Business Processing outsourcing (BPO) arm of Xerox International, a division which has been rebr ... Read More

JMMB in New Kingston JMMB focuses on ‘Her Wealth’
Jamaica Money Market Brokers (JMMB) aims to cement its place as the financial partner of choice for ... Read More

From left is Keith Duncan, CEO of JMMB Group, latest CFA charter holders Fornia Young and Andre Fairclough, Randi Tolber, director of society relations Americas Region, CFA, and Brian Fraser, President of the Jamaica Association of Investment Professionals. Association of Financial Professionals looking to expand in Jamaica
The Jamaica Association of Investment Professionals (JAIP) indicated this week that it is seeking to ... Read More

If you don’t love yourself, how will your money love you?

Sunday, January 22, 2017    

How did you parents teach you about money?

Perhaps you struggle with money issues and are bewildered as to why, no matter how hard you work, you cannot get ahead. Perhaps you think that people are out to get you or there is some real blockage in your life why financial freedom, better pay, a great job or some other goal continues to be beyond your reach. I understand that your story is a sad one. You developed this mindset of unworthiness because you were rejected, abandoned, or mistreated. I am so sorry for the pain you have experience ... Read More

SLB reconsiders position on student affected by stroke

Claudienne Edwards | Sunday, January 22, 2017    

Students wait outside the Students’ Loan Bureau in Kingston

Dear Claudienne, I am writing you to seek information about Students’ Loan Bureau (SLB) repayments. I was a student at the University of Technology Jamaica (UTech). However, on September 16, 2015, during my final semester of school I suffered a stroke. The stroke has left the right side of my body paralysed, and my speech has been affected as well. As I am a beneficiary of the SLB, I made it a priority to inform them about the stroke. I therefore sent an e-mail to the SLB in October 201 ... Read More

Fewer Jamaicans seek to buy home, car

BY KARENA BENNETT Business reporter bennettk@jamaicaobserver.com | Sunday, January 22, 2017    

A Jamaican townhouse development

While consumer confidence remained more favourable throughout 2016 than in any other year since 2001, pollster Don Anderson has expressed concerns about lower intentions among Jamaicans to own a home. In the recently released survey of business and consumer confidence report published by the Jamaica Chamber of Commerce (JCC), the survey highlighted a decline in home and vehicle plans among Jamaicans for the fourth quarter ending December. Vacation plans, however, remained unchanged from last ... Read More

New Cemex offer still not good enough — TCL board

BY AVIA COLLINDER Business reporter collindera@jamaicaobserver.com | Sunday, January 22, 2017    

The Caribbean Cement Company in Rockfort.

Along with the disclosure that some of the company’s directors and officers have decided to accept the upgraded offer per share for units in Trinidad Cement Ltd (TCL), the board of TCL has issued a new circular advising shareholders to reject the latest offer from Cemex S A’s subsidiary Sierra Trading, which they say remains below valuation. Cemex, a global materials trader based in Mexico, announced its intention in early December to acquire up to 132,616,942 ordinary shares in T ... Read More

Hinduja Global Solutions seeks 500 workers for new location

Sunday, January 22, 2017    

Hinduja Global Solutions Limited (HGS), business process firm, on January 18 officially opened its fourth customer experience centre on Constant Spring Road in Kingston. “We’re happy to share that we have invested in 80,000 sq ft for the new centre, which brings the total sq ft of all four HGS centres in Jamaica to 135,000 sq ft. We now have 1,550 employees in Jamaica and are continuing to grow based on the new expansion,” the company said. The company said in a release that ... Read More

Parliament aproves another IFC bill

Sunday, January 22, 2017    

Minister of Finance and Planning Audley Shaw

The Senate on Friday passed the International Corporate and Trust Services Providers Bill, 2016 moving Jamaica closer to establishing itself as an international financial centre. The Bill is considered one of the final pieces in Minister of Finance and Planning Audley Shaw’s puzzle aimed at creating an international financial centre, a process he started in the previous JLP administration. Shaw commented, while tabling the Bill in the House of Representatives last year, that Jamaica was ... Read More

Main Event Entertainment launches IPO ­

BY AVIA COLLINDER Business reporter collindera@jamaicaobserver.com | Sunday, January 22, 2017    

Entertainment is a thriving business in Jamaica.(Kenyon Hemans)

Main Event Entertainment Group Limited (MEEG), a Kingston-based event management company, has launched an IPO via the Jamaica Stock Exchange (JSE) aimed at raising $120 million in share capital. The company has offered for subscription up to 60,000,000 shares priced at $2 each. The invitation is slated to open Tuesday, 24 January and close Tuesday, 7 February, 2017. Lead broker is Mayberry Investments Ltd. MEEG, a 13-year-old company, was started in 2004 by Solomon Sharpe and Richard Bair, ent ... Read More

For white-collar staff, AI threatens new workplace revolution

Sunday, January 22, 2017    

PITTSBURGH, United States — This file photo taken on September 13, 2016 in Pittsburgh, Pennsylvania, shows a driver looking from an Uber self-driving car. Evangelists for driverless cars see a bright future coming down the road: thousands of lives saved, countless driving hours freed up, cityscapes transformed with traffic jams vanquished. But the new technology also threatens millions of jobs and raises a slew of ethical dilemmas — prospects that were on the minds of business chiefs and politicians meeting at the World Economic Forum in Davos.(Photo: AFP)

DAVOS, Switzerland (AFP) — If your job involves inputting reams of data for a company, you might want to think about retraining in a more specialised field. Or as a plumber. After industrial robots and international trade put paid to many manufacturing jobs in the West, millions of white-collar workers could now be under threat from new technology such as artificial intelligence (AI). The issue of how best to face up to this “Fourth Industrial Revolution” has been exercisin ... Read More

Building a bond

With Toni-Ann Neita | Sunday, January 22, 2017    

Toni-Ann Neita

At the start of every year our clients ask us what to expect for the coming year, and as always I wish we could predict the future. One thing for certain is that 2017 will be an interesting one with a lot of uncertainty surrounding the future of interest rates, the future of the European Union, the Trump presidency, and the outlook for bonds. But instead of trying to predict the market, it is probably more useful to work with your investment advisor to devise a strategy that will best suit you ... Read More

Joong Supermarket expands to include a home centre

BY KARENA BENNETT Business reporter bennettk@jamaicaobserver.com | Friday, January 20, 2017    

With the expansion, Joong Supermarket, Pharmacy and Home Centre in Portmore, St Catherine now employs 80 individuals, most of whom resides in the surrounding communities. Photo: Lionel Rookwood

Family operated Joong Supermarket and Wholesale has been expanded to include a home centre in Portmore, St Catherine. The supermarket chain, which first began operation in Morant Bay, St Thomas, expanded its footprint to Stony Hill, St Andrew and Portmore, St Catherine as the company sought to increase market share across the island. Having gained knowledge from operating an hardware store beside its St Thomas-based supermarket, the Chung family aims to create another one-stop shop for its cu ... Read More



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