Jamaica Business News: Economy, Financial Sector & More ? Jamaica Observer - Business - JamaicaObserver.com



BY KELLARAY MILES Business reporter milesk@jamaicaobserver.com | Sunday, June, 14 2020    

Restaurant owners inside the fashionable Market Place commercial space on Constant Spring Road in Kingston say that with the absence of their usual diners they have suffered tremendous losses since Covid-19 took root. Read More

Major hotel chain in Jamaica slowly emerges from liquidity crisis

BY DURRANT PATE Observer Business Writer | Sunday, June, 14 2020    

PLAYA Hotels and Resorts, which operates four all-inclusive resorts in Jamaica, is slowly emerging from its liquidity challenges, having secured additional financing of US$224 million. Read More

Restaurant operators confident in attracting customers once more as economy slowly reopens

BY ABBION ROBINSON Business reporter robinsona@jamaicaobserver.com | Sunday, June, 14 2020    

Due to measures of social distancing and general caution in public places caused by COVID-19, the foodservice industry has taken a hard financial hit as they faced months of operating at reduced capacity. But as the economy gradually reopens, local restaurant operators have expressed... Read More

Revenues down 90 per cent for 'Tracks and Records' restaurants amid COVID-19 fallout

BY KELLARAY MILES Business reporter milesk@jamaicaobserver.com | Sunday, June, 14 2020    

As businesses in the leisure and hospitality industry became affected by the impact of COVID-19, the operators of the popular Usain Bolt Tracks and Records (UBTR) eateries said they have suffered significant losses. This, as earnings plummeted by approximately 90 per cent across their... Read More

Help is here… get more equity – PROVEN CEO

BY ABBION ROBINSON Business reporter robinsona@jamaicaobserver.com | Sunday, June, 14 2020    

While some companies have already initiated business continuity plans to offset financial hits caused by COVID-19, others are not fully able to address the fast-moving and unknown variables of a pandemic. To this end, Chris Williams, CEO of private equity firm PROVEN, advises... Read More

Coffee exporters want import freeze

BY BALFORD HENRY Senior Staff Reporter | Sunday, June, 14 2020    

The Jamaica Coffee Exporters Association (JCEA) wants the Government to freeze the importation of all coffees until their excess inventory is sold off. Read More

What's your letter?

BY Eugene Stanley | Sunday, June, 14 2020    

US equity and bond markets have staged a remarkable comeback since their demise in March when lockdown measures were imposed to address the spread of the novel coronavirus. Read More

Student versus the UWI – a knotty affair

with Claudienne Edwards | Sunday, June, 14 2020    

Dear Claudienne,I completed my bachelor of arts at UWI in 2016 and started the master of arts (MA) programme thereafter. Read More

What sales organisations must do to stay alive beyond COVID-19

BY DUANE LUE-FUNG Observer business writer | Sunday, June, 14 2020    

It is business unusual! Read More

US stocks bounce higher on Friday, but still end the week with a loss

Sunday, June, 14 2020    

NEW YORK, USA — Wall Street managed to end a bumpy day broadly higher last Friday but still finished with its worst week in nearly three months. Read More

Tax Administration gives tax payment reminder

Sunday, June, 14 2020    

TAX Administration Jamaica (TAJ) is reminding business people that the following taxes are due tomorrow, Monday, June 15, 2020:- Estimated Income Tax (2nd quarter)- Self-Employed Statutory Payments (2nd quarter) Read More

Scotiabank successfully weathering COVID-19 storm

BY DURRANT PATE Observer Business writer | Friday, June, 12 2020    

Scotiabank Jamaica is successfully navigating the COVID-19 storm posting strong growth in its loan portfolio of $33.7 billion in the six months ended April 30. Read More

NovaMed donates $60m worth of face masks to protect Jamaican workforce

BY DURRANT PATE Observer Business Writer | Friday, June, 12 2020    

As the Jamaican economy reopens for business, NovaMed, a locally based medical resource supplier, is donating half-a-million medical grade face masks valued at approximately $60 million to protect the Jamaican and Caribbean workforce from COVID-19. Read More

Caribbean CFOs confident in remote work as a better business model — PwC's COVID-19 Pulse Survey

BY ABBION ROBINSON Business reporter robinsona@jamaicaobserver.com | Friday, June, 12 2020    

As the global economy prepares for the new normal post-COVID-19, 78 per cent of chief financial officers (CFO) in the Caribbean say the crisis-driven transitions to remote work and the adapting of flexible work hours will set their companies on a continuous path of... Read More

Look for economic opportunities which COVID-19 offers — entrepreneur

Friday, June, 12 2020    

While there has been some economic fallout as a result of restrictions due to the novel coronavirus pandemic for small businesses, entrepreneur Tracey-Ann Gutzmore Rhoden said the pandemic is also offering other economic opportunities for some companies. Read More


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