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Business

Companies hit pause button as coronavirus infects economy

Sunday, March, 22 2020    

PARIS, France (AFP) — Layoffs, cost cuts and scrapped dividends... companies scramble to adapt as the coronavirus emergency hits demand while draconian measures to contain it undercut production. Read More

UK to cover 80 per cent of wages of virus-hit workers: finance minister

Sunday, March, 22 2020    

LONDON, United Kingdom (AFP) — The British Government on Friday said it would help cover the wages of people hit by the coronavirus outbreak as it tightened restrictions to curb the spread of the disease. Read More

Sagicor donates US$1m to fight coronavirus

Saturday, March, 21 2020    

SAGICOR Financial Company Limited says it has committed US$1 million to aid in the fight against the novel coronavirus (COVID-19) in the Caribbean. Read More

European stocks rise as Wall Street suffers another rout

Saturday, March, 21 2020    

NEW YORK, United States (AFP) — European stocks gained yesterday following the latest stimulus measures, but Wall Street equities plunged again on mounting worries over the coronavirus as oil prices suffered another drubbing. Read More

Report: Plunge in smartphone shipments

Saturday, March, 21 2020    

SAN FRANCISCO, United States (AFP) — Smartphone shipments took a historic plunge last month as the novel coronavirus disrupted supply and demand, industry tracker Strategy Analytics said yesterday. Read More

Scotiabank secures partnership with global finance company

BY DURRANT PATE Observer business writer | Friday, March, 20 2020    

The Jamaica Observer has confirmed that Scotiabank is about to sign a deal with a global financial services company, which will bring significant benefits and opportunities for its local and regional customers. Read More

IDB pledges support to fight COVID-19

Friday, March, 20 2020    

The Inter-American Development (IDB) says it has made some US$2 billion available to member countries to combat challenges posed by the novel coronavirus (COVD-19) pandemic. Read More

BOJ assures financial institutions easy access to FX and JA dollar liquidity

Friday, March, 20 2020    

While the Bank of Jamaica (BOJ) assured the public recently that current holdings of the Jamaica dollar liquid balances by the banking system are adequate for immediate needs, it is further advising financial institutions that it will facilitate expanded access to both foreign currency and... Read More

Paramount Jamaica prioritise health care products

Friday, March, 20 2020    

THE management of Paramount Trading (Jamaica) Limited has confirmed that the global novel coronavirus disease (COVID-19) outbreak has led to an overwhelming increase in demand for its raw materials and finished products. Read More

Entire closure of Jamaica's tourism industry due to COVID 19

BY DURRANT PATE Observer business writer | Friday, March, 20 2020    

Tourism Minister Edmund Bartlett is admitting that the entire tourism industry in Jamaica is facing imminent closure given the travel restrictions on many of its source markets as well as local containment and restriction protocols. Read More

Indies Pharma ends 1st quarter with $39.6 million profit

BY ABBION ROBINSON Business reporter robinsona@jamaicaobserver.com | Friday, March, 20 2020    

Indies Pharma Jamaica Limited reported on Monday, an unaudited after-tax profit of $39.6 million for its first quarter which ended on January 31, 2020. This represents a 19 per cent decrease compared to the previous corresponding period. Read More

It's no longer business as usual — Caribbean Association of Banks

Friday, March, 20 2020    

The Caribbean Association of Banks (CAB) has urged members that in the face of the coronavirus pandemic, it cannot be business as usual for the region's financial institutions;calling on them to utilise every measure to curtail possible impacts. Read More

Cayman shuts down air travel for three weeks amidst COVID-19

Friday, March, 20 2020    

In an attempt to stem the spread of the novel coronavirus disease (COVID-19), Cayman's authority has said air travel in and out of the island will be on shut-down mode for the next three weeks. Read More

Preparing for a post-COVID-19 economy

Dennis Chung | Friday, March, 20 2020    

Eight days ago, Jamaica confirmed its first COVID-19 case. This was inevitable as the world has been dealing with the virus since mid- November, when the first case was reported in China. It has taken some three months to get to Jamaica, and during that time it is obvious that the Ministry of... Read More

Trinidad announces series of measures to help ease impact of coronavirus

Friday, March, 20 2020    

PORT OF SPAIN, Trinidad — Trinidad and Tobago Wednesday announced a series of measures it hopes will help reduce the anticipated economic impact of the coronavirus on the oil-rich twin island Republic. Read More



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