Contractors urged to forge partnerships to fight foreign competition

Dr Omar Davies (centre), minister of transport and works, engages Carvel Stewart, president of the Incorporated Master Builders’ Association and Tiffany Gordon,
executive, Mortgage Sales at the Jamaica National Building Society, in discussion.

MINISTER of Transport, Works and Housing Dr Omar Davies says local contractors must be willing and prepared to collaborate with each other in order to capitalise on opportunities that will emerge in the construction sector and to compete effectively with foreign companies, as the country positions i ... Read More

Trinidad and Tobago Finance Minister Larry Howai (Photo: Trinidad Guardian) Trinidad 'won't borrow money' even if oil prices fall
PORT OF SPAIN, Trinidad (Trinidad Express) - The Government will not resort to borrowing money if th ... Read More

Minister of Science, Technology, Energy and Mining Phillip Paulwell Information Security Management Systems seminar next month
JAMAICA will host a four-day seminar on Information Security Management Systems (ISMS) next month at ... Read More

Jamaica’s ginger production fell to an all-time low in the
early 1990s. Jamaica could meet global demand for its ginger by 2019
LOCAL farmers could meet the global demand for Jamaican ginger by 2019, according to the Agriculture ... Read More

New loyalty rewards card hits the market

Sunday, October 19, 2014    

PARKES... that business will obtain $20 from each transaction
and profits could increase by $1.2 million.

A new loyalty rewards programme, FlexKom, is now available to local businesses. It allows businesses to boost revenue earnings by providing discount packages to its customers. FlexKom takes 20 per cent of the cashback. But participating stores can get 20 per cent of the savings received by their loyalty customers who shop at at any other participating store around the world. "This means that if a company signs up 600 customers and each customer is granted a $100 discount from 100 participat ... Read More

Third credit bureau approved

Sunday, October 19, 2014    

PHILLIPS... signed an order under the Credit Reporting Act to
enable credit bureaus to collect information on customers of
utility companies

A third credit bureau has been approved to operate in Jamaica. Credit Information Services (CIS) joins Creditinfo Jamaica and CRIF NM Credit Assure in acquiring a licence, having got the nod from the finance ministry and the Bank of Jamaica. Under the terms of the licence, CIS has been given a period of 12 months to commence the business of issuing credit reports under the Credit Reporting Act. Both Creditinfo and Credit Assure commenced operations last year. Currently, all major commercial ... Read More

Cogeneration at SEZs could cut energy cost by 30%

BY KARENA BENNETT Business reporter | Sunday, October 19, 2014    

FRANCIS... If special
economic zones were to get a
cogeneration system, then
there would be no need to
spend additional money on
generating electricity to
produce steam and

THE Special Economic Zone (SEZ) Policy Steering Committee is considering the use of a cogeneration system to reduce the electricity costs of SEZ operators by 30 per cent. Cogeneration is a process whereby a single fuel source, such as natural gas, is used to produce both electrical and thermal energy in the form of heating and cooling. By definition, an on site cogeneration system is more efficient than a utility- operated central power plant, since thermal energy that would otherwise be waste ... Read More

Translating economic terminology: Balance of payments

With Pamela Lewis | Sunday, October 19, 2014    

THE Balance of Payments (BOP) is a method countries use to measure the flow of money into and out of their economies over a specific period of time, usually quarterly and yearly. As with any company or individual this is important information to know and has implications for the financial health of the nation. Let's take a look at what makes up the balance of payments, why it is important, and how Jamaica measures up. The BOP summarises the total international trade activities of the private an ... Read More

Replacement laptop didn't carry warranty

With Claudienne Edwards | Sunday, October 19, 2014    

A wide range of laptops.

Dear Claudienne, On September 3, 2011, my wife and I purchased a Dell DC15P32E225B Inspiron M5030-Notebook-black laptop computer at the May Pen Branch of Courts. It had Supa Shield warranty. Some time in late April to early May 2013 it stopped working and we returned it to the branch. We were told that it could not be fixed, so Courts exchanged it. When we enquired about the warranty we were told that it was still valid and that a new one would not be required. We took back the replaceme ... Read More

Tourism stakeholders keen on timeshare vacation law

BY MARK CUMMINGS Editor-at-Large, Western Bureau | Sunday, October 19, 2014    

STEPHENSON... The average
hotel stay is three to four
days, while the average
timeshare stay is eight days.

MIAMI, Florida — KEY tourism stakeholders here are anxiously awaiting the passage of the Timeshare Vacations Bill tabled in the House of Representatives by Jamaica's Tourism Minister Dr Wykeham McNeill, arguing that the legislation will enhance the island's tourism product offering. "If the Jamaican Government can pass this law it would provide a great incentive for developers to consider developments in the island. And if they do that, Jamaica is going to benefit greatly from it," Keith ... Read More

Will Apple Pay be the next iRevolution?

Sunday, October 19, 2014    

Apple Pay being demonstrated at Apple headquarters. (PHOTO: AP)

CALIFORNIA, USA — APPLE'S skinnier iPads and flashy big-screen iMac are sleek and stunning. But the tech giant is making a bigger strategic bet with next week's launch of Apple Pay — the mobile pay service aimed at turning your iPhone into your wallet. The service, which goes live Monday and has hundreds of banks on board, is "hugely important" says Forrester Research analyst Frank Gillett. It puts Apple in the middle of a wide range of consumer transactions, underscoring Apple's v ... Read More

Samsung smartphones might have taken number one spot in Jamaica

Sunday, October 19, 2014    

GoogleTrends data highlights that, for every pool of searches for devices within
Jamaica over the 12 months ending October 2014, Samsung interest averaged
75, outscoring BB at 54 and the iPhone at 53

SAMSUNG smartphones have taken the lead in Jamaica from rivals including BlackBerry (BB), reckons Kenneth Moore. The key accounts manager for Samsung in Latin America, who is also a former employee of BB, said that the market gain has fuelled further investment in the country. We know that Jamaica is the market for us," Moore said of Samsung on Thursday at the launch of the Galaxy Note 4 tablet and its Gear S watch at the Tropical Plaza Samsung store in Kingston. "I couldn't give you figures. ... Read More

Hendrickson gets keys to former Wyndham

Sunday, October 19, 2014    

Hendrickson gets keys

Hotelier Kevin Hendrickson (right) accepts the keys to the former Wyndham Kingston Hotel from Kenneth L Lewis on Friday. With this recent acquisition, Hendrickson now owns four of Kingston's corporate hotels including The Courtleigh Hotel & Suites, The Knutsford Court Hotel and The Jamaica Pegasus. Put another way, his holdings will operate over 870 of the 1,480 rooms in the capital. The hotelier previously told the Jamaica Observer that the purchase represents "a strategic opportunity to tr ... Read More

Europe's top powers deadlocked as economy sinks

Sunday, October 19, 2014    

European Central Bank President Mario Draghi has put forward
a three-part strategy to help the Eurozone.

FRANKFURT, Germany — EUROPE'S economy needs help — fast. Yet the two powers that could take action, the European Central Bank (ECB) and Germany, don't see eye to eye about what to do. That leaves Europe's currency union stuck in a dangerous policy limbo that now has investors worried. Concern that the 18-country currency union, which accounts for 17 per cent of the world economy, has no clear path out of its economic trouble is among the key factors in this week's global market tur ... Read More



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