Business

Structural limitations on Jamaica's growth potential

By Dennis Chung | Friday, May, 12 2017    

The Prime Minister recently spoke to the need for sustainable growth that is equally shared by all, and specifically where the average Jamaican can share in that growth. We can, for example, mention many countries where there has been significant growth over sustained periods, and yet... Read More

Bahamas elects a new prime minister, Hubert Minnis

Friday, May, 12 2017    

NASSAU, Bahamas (AFP) — The Bahamas voted in a new leader Wednesday, with Hubert Minnis, who campaigned on a platform of change, beating scandal-tainted incumbent Perry Christie in general election on the island archipelago.“My... Read More

Cornwall talk

Friday, May, 12 2017    

Chris Hind, general manager of JN General Insurance (JNGI), speaks with Cornwall old boy and architect Clifton Yap at the Cornwall College Old Boys' Association (Kgn Chapter) annual dinner at Mona Visitors lodge. (Photo: Naphtali Junior) Read More

Supreme Ventures does not have a youth segment

Friday, May, 12 2017    

A reference to Supreme Venture's youth market in a story in the Business Observer on Wednesday May 10 was incorrect.A letter from Simone Clarke-Cooper, assistant vice-president, Group Corporate Communications for SVL stated, “It is... Read More

T&T Government to focus on revenue collection

Friday, May, 12 2017    

PORT OF SPAIN, Trinidad (CMC) — The Government's revenue for the year has been revised upward from TT$47.2 billion (One TT dollar =US$0.16 cents) to TT$48 billion due to an expected increase of $575 million from income taxes from petroleum companies. Read More

Puerto Rico drinking water is worst in US — report

Friday, May, 12 2017    

MIAMI, United States (AFP) — The US territory of Puerto Rico has the worst drinking water in the nation, and the majority of the island's water supply is in violation of federal standards, a report said Wednesday.Nearly every person in... Read More

SVL bets on better service as revenue driver

BY AVIA COLLINDER Business reporter collindera@jamaicaobserver.com | Wednesday, May, 10 2017    

Supreme Ventures Ltd (SVL), which controls a large share of the local gaming market through its lottery games, says investment in new technology is expected to deliver returns in 2017 and going forward.In mid-year 2016, SVL's lottery service... Read More

Remittance taxes counterproductive — economists

BY AVIA COLLINDER Business reporter collindera@jamaicaobserver.com | Wednesday, May, 10 2017    

American citizens canvassed by the Jamaica Observer have suggested that, in order to fund the construction of a wall between Mexico and the United States, there are other ways to raise the money besides a tax on remittances — a serious proposal made by... Read More

Sagicor X Fund buys more north coast land for development

Wednesday, May, 10 2017    

Sagicor Real Estate X Fund Ltd (the X Fund), a subsidiary within the Sagicor Group, disclosed this week that it has bought more land on the north coast for development.With $44.4 billion in assets, the real estate fund is one... Read More

ISP Finance considers expansion

BY KARENA BENNETT Business reporter bennettk@jamaicaobserver.com | Wednesday, May, 10 2017    

Microfinance company ISP Finance Services Ltd hopes to increase market share by expanding its footprint outside of Kingston, Spanish Town and the metropolitan area. In its 2016 annual report, ISP noted that as part of efforts... Read More

More taxpayers submitting their returns online

Wednesday, May, 10 2017    

Tax Administration Jamaica (TAJ) has reported an increase in online filing rate for most major tax types during the 2016/17 financial year.In a press release, TAJ said data for the just ended financial year showed a 54 per cent... Read More

New GOJ, cap market issues set to collect NDX outflows

BY AVIA COLLINDER Business reporter collindera@jamaicaobserver.com | Wednesday, May, 10 2017    

Seeking to capitalise in a market set to swim in liquidity this week as it pays out $64 billion in NDX bonds, both the Jamaican government itself and private investment companies are setting their cap for the funds which will become available. Read More

Seprod increased dividend payout from equity portfolio sale

BY AVIA COLLINDER Business reporter collindera@jamaicaobserver.com | Wednesday, May, 10 2017    

P B Scott, chairman of manufacturing company Seprod Ltd, disclosed this week that it was the sale of the company's equity portfolio in 2016 which allowed the upsizing of dividends to shareholders during the year ended.While earnings per share... Read More

Brokers in the dark over new auction system

BY AVIA COLLINDER Business reporter collindera@jamaicaobserver.com | Wednesday, May, 10 2017    

As the Jamaican dollar appears to gather energy for a stroll past the J$130 to US $1 mark, local brokers who are anticipating the roll-out of a new foreign exchange auction system in July of this year are in the dark as to how the auction will actually... Read More

GraceKennedy divests its stake in Barbados insurance company

Wednesday, May, 10 2017    

GraceKennedy Ltd has divested its 30 per cent stake in Barbados-based Trident Insurance Company Ltd. In a release on Monday, GraceKennedy announced the completion of the transaction. The shares were purchased by Leo Leacock... Read More



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