Business

David Smalling, a fast-rising star on Wall Street

SMALLING... at Harvard I managed to get pretty lucky with the advisors that I worked with.

“Considering the political climate, I think I should point out one thing that I think has been crucial to forming who I am, and I can relate this with my friends who went to Campion… In my year at Yale there were three of us ... Growing up the way I did I never really thought about race ... Read More

A view of Savannah-la-Mar, capital of Westmoreland. Change of thought over change of name process
Dear Claudienne: On Tuesday, November 1, 2016, I went to the Savanna-la-Mar branch of the Registrar ... Read More

Wisynco’s new warehouse (Photo: Joseph Wellington) Wisynco’s new warehouse nears completion
Less than a year after Wisynco Group Limited suffered over $2 billion in losses from a fire at its L ... Read More

MATTHEWS... I look forward to positively representing Jamaica Nadeen Matthews named Young Global Leader
Nadeen Matthews, Chief Digital and Marketing Officer for the NCB Group, joins the ranks of a noble ... Read More

Barbados prime minister adamant – No IMF!

Friday, March 17, 2017    

STUART... our peg to the US dollar has served us well ever since 1975 

BRIDGETOWN, Barbados (CMC) – Barbados Prime Minister Freundel Stuart Wednesday rejected a suggestion from former prime minister Owen Arthur that the island has no option but to go to the International Monetary Fund (IMF) for assistance in dealing with the ailing economy. Speaking in the Parliament on the debate of the 2017-2018 Estimates of Revenue and Expenditure Arthur, an economist, who served as prime minister here from 1994-2006, said that the move to the IMF was inevitable and warne ... Read More

World Bank report says deeper integration vital for growth in Latin America and the Caribbean

Friday, March 17, 2017    

View of the Mariel development zone, in Mariel, Cuba on January 5, 2016.

WASHINGTON, United States (CMC) – The World Bank Tuesday said a deeper economic integration among Latin American and Caribbean countries will make the region more competitive in international markets and boost long-term growth. In a new report titled “Better Neighbours: Toward a Renewal of Economic Integration in Latin America,” the Washington-based financial institution argues that a renewed integration strategy that takes advantage of the complementarities between regional a ... Read More

PHOTO: UK promotes trade

Friday, March 17, 2017    

(From left) David Fitton, British High Commissioner to Jamaica; British Airways’ Stacy Mansingh, sales support executive and Diane Corrie, commercial manager — Caribbean, chat with Stephen Wedderburn, chief technical director, Ministry of Industry, Commerce and Agriculture, who represented Karl Samuda, at the official opening yesterday of the UK Food & Drink Market Visit 2017 at the Jamaica Pegasus hotel in New Kingston. The Exhibition was part of a series of events hosted by the British High Commission in Kingston, which saw UK firms interacting with representatives of Jamaica and other Caribbean islands from the hotel and restaurant distribution and manufacturing sectors.  British Airways flew British television Chef Alan Coxon into the island to showcase British and Jamaican food pairings at a reception at the British High Commission.

(From left) David Fitton, British High Commissioner to Jamaica; British Airways’ Stacy Mansingh, sales support executive and Diane Corrie, commercial manager — Caribbean, chat with Stephen Wedderburn, chief technical director, Ministry of Industry, Commerce and Agriculture, who represented Karl Samuda, at the official opening yesterday of the UK Food & Drink Market Visit 2017 at the Jamaica Pegasus hotel in New Kingston. The Exhibition was part of a series of events hosted by the ... Read More

Cuba tries to reboot its creaky state news apparatus

Friday, March 17, 2017    

HAVANA, Cuba — Cuban state television and radio employees work during the making of a news programme at the headquarters in Havana, Cuba, Tuesday. (Photo: AFP)

HAVANA, Cuba (AP) — The Cuban government is trying to reboot its Soviet-era style news programming with a high-definition current affairs channel staffed by young journalists. The Caribe channel is starting slowly, with 3½ hours of offerings a night on a new channel available to a few hundred thousand viewers who have bought high-definition decoder boxes. Producers say they hope to eventually expand to nearly round-the-clock programming. That’s a niche currently occu ... Read More

Frontier Airlines, Silver Airways dropping service to Cuba

Friday, March 17, 2017    

CIENFUEGOS, Cuba — A view of the Palacio de Vale in Cienfuegos

HAVANA, Cuba (AP) — Frontier Airlines and Silver Airways are dropping air service to Cuba, saying other airlines are adding too many flights to the island nation and making the routes unprofitable. US airlines rushed to begin flights to Cuba last year after the Obama administration allowed commercial service for the first time in more than half a century. More Americans are visiting Cuba, but the glut of new flights has exceeded demand, resulting in many empty seats. Florida-based Silver ... Read More

Motor show a success as discounts attract buyers

BY AVIA COLLINDER Business reporter collindera@jamaicaobserver.com | Wednesday, March 15, 2017    

Adam Stewart admires a Porshe (Antonio Graham)

Kent LaCroix, head of the Automobile Dealers Association, said that the motor show held in Kingston over the weekend was a success. The ADA show this year was held across several dealer locations, with individual companies hosting attendees. LaCroix said that while he was yet to collect data from individual companies, “…all I can say is that it was quite a success”. Meanwhile, ATL also held its own car show in Kingston. Christina Thwaites, ATL group marketing manager, told ... Read More

Tomblin says departure not imminent

BY AVIA COLLINDER Business reporter collindera@jamaicaobserver.com | Wednesday, March 15, 2017    

TOMBLIN... I have not even spoken to my leadership team about this.

Kelly Tomblin, president and CEO of the Jamaica Public Service company Ltd (JPS), said yesterday that word circulating that she is about to leave the company is overstated, as there is no set date for her to do so. “We are simply interviewing for my successor and there is no transition plan. “My very strong VPs have decided that this is not the role for them, so we don’t have a named successor,” she told the Jamaica Observer. Members of Tomblin’s top team incl ... Read More

Highlights of Audley Shaw’s opening budget presentation

BY BALFORD HENRY Senior staff reporter balfordh@jamaicaobserver.com | Wednesday, March 15, 2017    

SHAW... it is firmly our intention to phase that outPhoto: Garfield Robinson

These are some highlights from Minister of Finance and the Public Service Audley Shaw’s opening budget debate presentation on Thursday, put together by Balford Henry, senior staff reporter. INTRODUCTION Just over a year ago, the people of Jamaica sent a clear message that they wanted new and better leadership after years of little or no economic growth, social stagnation and decay. By endorsing our proposals to take Jamaica from poverty to prosperity under the leadership of Prime Min ... Read More

GraceKennedy reconsiders Norman Manley International NMIA bid

BY AVIA COLLINDER Business reporter collindera@jamaicaobserver.com | Wednesday, March 15, 2017    

A view of Norman Manley International Airport near Kingston

Don Wehby, group CEO GraceKennedy Ltd, indicated Monday that the company’s subsidiary, GK Capital Ltd, is currently in the process of evaluating the revised terms on offer for the Norman Manley International (NMIA ) Public-Private Partnership (PPP). The Government of Jamaica, through the Ministry of Transport and Mining, is seeking a private sector operator to operate, finance, and develop the NMIA under a long-term concession agreement. The selected party is expected to complete the mod ... Read More

Shaw says rationalisation of public bodies proceeding with IMF help

BY BALFORD HENRY Senior staff reporter balfordh@jamaicaobserver.com | Wednesday, March 15, 2017    

The PCJ building in New Kingston.

Minister of Finance and the Public Service, Audley Shaw, gave an update on the rationalisation of the public bodies during his opening presentation of the 2017/18 budget debate at Gordon House on Thursday. According to Shaw, the rationalisation of the public bodies is an ongoing activity and with the assistance of the International Monetary Fund (IMF) the government has developed, since 2016/17, a Policy on Categorisation and Rationalisation of the Public Bodies which was approved by cabinet, a ... Read More



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