Business

Jamaican tax levels higher than developing peers' — study

Taxpayers at the collectorate on Constant Spring Road in
Kingston.

JAMAICA'S taxation levels are higher than most of its developing nation peers, according to a new study by UHY, an international accountancy network. It comes on the heels of another multi-billion dollar tax package set to balance the books of the Government. The island, however, falls below the g ... Read More

The NCB Atrium on Trafalgar Road in New Kingston NCB makes record $3.2 billion in profit
NATIONAL Commercial Bank of Jamaica (NCB), described as the island's most profitable bank, announced ... Read More

The Victoria Mutual building on Knutsford Boulevard in New Kingston. Car owner seeks refund from Victoria Mutual Insurance Company
Dear Claudienne On May 5, 2008, I renewed my motor vehicle insurance with Victoria Mutual Insuranc ... Read More

Gary ‘Butch” Hendrickson (second left), chief executive officer of National Continental Baking Company, addresses the
Leaders-to-Leaders series. Paying keen attention are the other speakers (from left) Atlanta-based businessman and author
Glen Laman, Audrey Marks, and Montego Bay-based entrepreneur Patrick Casserly. Telling the Paymaster story
(This is a lightly edited speech delivered by Paymaster Jamaica founder and Chief Executive Officer, ... Read More

Jamaica strengthens trading ties with Costa Rica

Sunday, April 26, 2015    

Costa Rica’s Minister of Foreign Trade Alexander Mora (left) and Minister Hylton shake
hands after implementation of the Free Trade Agreement between Jamaica and Costa Rica in
San Jose, Costa Rica on April 16.

MINISTER of Industry, Investment and Commerce Anthony Hylton has cemented Jamaica's trading relations with Costa Rica after signing a Memorandum of Understanding (MOU) with Costa Rica's Minister of Foreign Alexander Mora earlier this month. Under the MOU, both countries have agreed to implement a system which properly recognises the origin of goods, ultimately ensuring a transparent commercial framework for the planning of future trading activities and investments. The deal also seeks to take a ... Read More

A look at entrepreneurship in Jamaica

BY GLEN LAMAN, PhD | Sunday, April 26, 2015    

Dr Glen Laman

(This is an edited version of a presentation made by Atlanta-based businessman and author and former Kingston College student Dr Glen Laman at the recent Leaders-to-Leaders function held at the Jamaica Pegasus Hotel in St Andrew.) One of the side effects of entrepreneurship is competition. Perhaps you have heard the story of the entrepreneur who opened a store to sell his particular product and was enjoying a brisk business when a competitor opened a store next his selling the exact same produc ... Read More

Quantitative easing in Europe

Lisa Minto | Sunday, April 26, 2015    

FRANKFURT, Germany — Quantitative easing by the European Central Bank (ECB) was forgotten
about for a moment, when a woman jumped on the head table throwing papers and confetti as
she interrupted a press conference by ECB president Mario Draghi following a meeting of the
Governing Council in Frankfurt / Main, Germany, on April 15. (PHOTO: AFP)

WHEN we hear the term quantitative easing or QE what does it really mean to the economy? This is simply a monetary policy tool used by the Government's Central Bank to stimulate growth in the economy. This is especially used when all other standard monetary policies have failed or are failing. QE has been used to some measure of success in the US economy following the 2008 financial crisis and is now bearing fruit with improved employment data and business confidence. With quantitative easing, ... Read More

Business process improvement (Part 1)

Sunday, April 26, 2015    

NEW DELHI, India — An elderly Indian woman collects dried rotis, the traditional flat bread of north India, in New Delhi,
India, Monday, April 20. While hundreds of millions of Indians remain mired in poverty, the International Monetary Fund
recently said it expects India’s economy to grow by 7.5 per cent in 2015, its strongest growth in five years. (PHOTO: AP)

There is nothing so useless as doing efficiently that which should not be done at all. ~ Peter F Drucker Typical workplace scenarios Consider the following scenario. Two bakeries produce the exact same bread -- tastes the same, looks the same, weighs the same -- the only difference is that they are in different packages. They also produce the same number of loaves per week. However, on further inspection you realise some differences. The unit cost to produce one bread from Yellow Star Bakery i ... Read More

Major Greek bank to wipe debts of poorest clients

Sunday, April 26, 2015    

ATHENS, Greece — People walk past Greek flags for sale in central Athens on April 18. 2015.
(PHOTO: AFP)

ATHENS, Greece (AFP) — One of Greece's largest banks is to wipe away the debts of clients who owe up to 20,000 euros (US$21,600) in a one-off gesture to ease the burden on its crisis-hit customers. The Bank of Piraeus decided to write off or restructure debts in response to the "humanitarian crisis" through which its poorest clients were living, the company said in a statement. Write off credit card loans Debts of up to 20,000 euros linked to credit cards and consumer loans would be wri ... Read More

Stock prices could double within a year

BY STEVEN JACKSON Business reporter jacksons@jamaicaobserver.com | Friday, April 24, 2015    

(L-R) PEART... I beleive the stock
market is set to break out. BURCHENSON... there are
gains to be made

STOCK prices could double in as early as a year, reasoned panelists at the Mayberry Investor Forum. This is based on a confluence of macroeconomic factors which make equities more attractive than lower-yielding fixed-income Jamaican dollar or US securities. "I believe that the stock market is set to break out," reasoned Gary Peart, chief executive at Mayberry Investments, in his presentation at the forum held on Wednesday at the Knutsford Court Hotel in Kingston. Peart expects stock prices to ... Read More

Ganja producers seek JIPO protection

BY STEVEN JACKSON Business reporter jacksons@jamaicaobserver.com | Friday, April 24, 2015    

JIPO’s office at the JAMPRO building on Trafalgar Road in New Kingston

MORE than a dozen applications to register ganja products are before the state-run Jamaica Intellectual Property Office (JIPO), which overseas rights in Jamaica including patents and trademarks. "There are approximately five patents and about 10 trademark applications," stated Lilyclaire Bellamy, acting executive director and legal counsel at JIPO's Trafalgar Road head office in Kingston on Monday. JIPO didn't immediately reveal the name of the applicants but the Dr Henry Lowe-controlled Medi ... Read More

Marketing Counselors is Jamaica Observer’s top agency

BY KARENA BENNETT Business reporter bennettk@jamaicaobserver.com | Friday, April 24, 2015    

Media manager at Marketing Counselors Limited Eileen Lewis
is presented with an award by the Observer’s managing
director Danville Walker after her company was named top
agency during the newspaper’s Advertising and Billing Awards
2014 on Wednesday. (PHOTO: JOSEPH WELLINGTON)

ADVERTISING agency Marketing Counselors was again crowned Top Agency in the Jamaica Observer's Advertising and Billing Awards 2014 for the highest volume of advertisements placed in the newspaper last year. OGM Integrated Communications copped the second place award, while Dunlop Corbin Communications was placed third. Last year, Marketing Counselors emerged winners over OGM Integrated Communications and Dunlop Corbin Communications for its volume of advertisement in 2013. The presentations, w ... Read More

First Angels Ja makes first investment with DRT Communications — plans to invest in 5 start-ups this year

BY KARENA BENNETT Business reporter bennettk@jamaicaobserver.com | Friday, April 24, 2015    

FAJ’s first investor client
Danielle Terrelonge,
founder and CEO of DRT
Communications.

INVESTOR group First Angels Jamaica (FAJ) has inked its first investment deal with local start-up company DRT communications. The deal will allow DRT communications, a company which has been in operations for seven years, to expand its current operations and in return forgo equity to the investors of FAJ. The investor group now plans on investing in another five companies by the end of the year. FAJ, which is headed by Joseph M. Matalon, Sandra Glasgow and John 'JJ' Geewax, seeks to provide fi ... Read More

J'can firms and consumers increasingly optimistic about economy

BY KARENA BENNETT Business reporter bennettk@jamaicaobserver.com | Friday, April 24, 2015    

Jamaican shoppers at a Puma store in Kingston.

JAMAICA'S business confidence is at its highest level in eight years as firms continue to express confidence that the economic policies of the government will improve the economy and the financial health of businesses. Concurrently, the Jamaica Chamber of Commerce (JCC) pointed out in its first quarter business confidence survey, that there has been an 'ease' in how fast businesses expect the economy to grow, with 39 per cent of businesses expecting growth to improve down from the 44 per cent i ... Read More



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