Jamaica Observer http://www.jamaicaobserver.com/ JamaicaObserver.com, the most concise and in-depth website for news coverage on Jamaica and the Caribbean. Updated daily 7 days a week, 24 hours a day en-us copyright Jamaica Observer, 2011 VIDEO: Medical ganja company targets $4b in revenue by 2019; eyes IPO by 1Q next year http://www.jamaicaobserver.com/business/Medical-ganja-company-targets--4b-in-revenue-by-2019--eyes-IPO-by-1Q-next-year_17834752 LOCAL medical marijuana company, Medicanja Limited, expects to generate approximately $4 billion in sales within four years. Local Business Fri, 31 Oct 2014 02:00:00 GMT 2014 Private Sector Hall of Famer urges more reform http://www.jamaicaobserver.com/business/2014-Private-Sector-Hall-of-Famer-urges-more-reform_17834423 THE 2014 Private Sector Hall of Fame recipient Dr Glenford Christian urged Government to continue to enact Doing Business improvements in order to induce job growth. Local Business Fri, 31 Oct 2014 02:00:00 GMT JOHN MAHFOOD: Long-term preparation key to listing http://www.jamaicaobserver.com/business/JOHN-MAHFOOD--Long-term-preparation-key-to-listing_17834569 JOHN Mahfood and his father Adeeb placed Jamaican Teas in public listing mode the moment they acquired the firm's predecessor, Tetley Tea Company Ltd, in January 1996. Business Leader Fri, 31 Oct 2014 02:00:00 GMT 'Buy more shares', says Red Stripe chairman http://www.jamaicaobserver.com/business/-Buy-more-shares---says-Red-Stripe-chairman_17833960 "BUY more shares," is the advice to shareholders coming from Red Stripe chairman, Richard Byles. Local Business Fri, 31 Oct 2014 02:00:00 GMT Zacca wants more improvement to small credit access http://www.jamaicaobserver.com/business/Zacca-wants-more-improvement-to-small-credit-access_17834549 SMALL sector access to credit is still inadequate despite the island's record jump to most competitive nation within the Caribbean, reasoned Chris Zacca, president of the Private Sector Organisation of Jamaica (PSOJ). Local Business Fri, 31 Oct 2014 02:00:00 GMT Ja's jump in Doing Business report highest in LAC http://www.jamaicaobserver.com/business/Ja-s-jump-in-Doing-Business-report-highest-in-LAC_17834512 LATE Tuesday evening, the World Bank issued its famous Doing Business report in Washington. There appeared to be genuine excitement amongst the representatives of the multilaterals here, as the report advised that Jamaica had the Caribbean's highest ranking on the ease of doing business: 58 out of 189 economies worldwide, a jump of 27 from the 85 ranking last year, the sharpest improvement in the Latin American and Caribbean region. For the purposes of measurement by the report, the Caribbean region includes the following economies: Antigua and Barbuda, The Bahamas, Barbados, Dominica, the Dominican Republic, Grenada, Haiti, Jamaica, St Kitts and Nevis, St Lucia, St Vincent and the Grenadines, and Trinidad and Tobago. Local Business Fri, 31 Oct 2014 02:00:00 GMT CB eyes cassava leaves, sticks for animal feed http://www.jamaicaobserver.com/business/CB-eyes-cassava-leaves--sticks-for-animal-feed_17833411 Poultry processor, Caribbean Broilers (CB), is considering the use of cassava leaves and stick portions in the production of animal feeds. Local Business Fri, 31 Oct 2014 02:00:00 GMT LIAT wants a smaller airline in 2015 http://www.jamaicaobserver.com/business/LIAT-wants-a-smaller-airline-in-2015_17834514 ST JOHN'S, Antigua — THE cash-strapped regional airline, LIAT, Wednesday hinted at the possibility of layoffs in the coming months as it seeks to develop a "smaller airline in 2015". Local Business Fri, 31 Oct 2014 02:00:00 GMT New investment Bill to reform role of GIDC http://www.jamaicaobserver.com/business/New-investment-Bill-to-reform-role-of-GIDC_17834516 ST GEORGE'S, Grenada — THE role of the Grenada Investment Development Corporation (GIDC) will be changed when legislators approve Grenada's new Investment Bill before the end of the year. Local Business Fri, 31 Oct 2014 02:00:00 GMT Haiti hopes to woo back tourists with resorts http://www.jamaicaobserver.com/business/Haiti-hopes-to-woo-back-tourists-with-resorts_17830090 COTES-DE-FER, Haiti — OFF this sleepy southern Haitian village, fishermen in weathered wooden boats slowly move across azure waters. Miles of picture-perfect sandy beaches slope gently, fringed by grasses and framed by mountains. Financial Fri, 31 Oct 2014 02:00:00 GMT Oil prices drop despite strong US growth data http://www.jamaicaobserver.com/business/Oil-prices-drop-despite-strong-US-growth-data NEW YORK (AFP) -- World oil prices fell back Thursday after two days of modest gains, as the market was not encouraged by a stronger-than-expected estimate of US economic growth in the third quarter. Local Business Thu, 30 Oct 2014 15:47:18 GMT Over 400 business owners for Brad Sugars seminars http://www.jamaicaobserver.com/business/Over-400-business-owners-for-Brad-Sugars-seminars_17823559 MORE than 400 local business owners and leaders are set to benefit from interactions on November 13 and 14 with noted international business coach Brad Sugars, the chairman and founder of ActionCOACH International. Local News Thu, 30 Oct 2014 02:00:00 GMT Hinduja expands business in Jamaica; other BPO operators secure more space http://www.jamaicaobserver.com/business/Hinduja-expands-business-in-Jamaica--other-BPO-operators-secure-more-space_17818783 OUTSOURCING giant Hinduja Global Solutions has landed a contract to deliver voice-based customer care support by one of its largest healthcare clients out of its Jamaican operations. Local Business Wed, 29 Oct 2014 02:00:00 GMT Cassava beer by March http://www.jamaicaobserver.com/business/Red-Stripe-to-build--90-m-cassava-processing-plant-by-January_17818914 LOCAL brewing company Red Stripe will be establishing its US$800,000 ($90.4 million) starch processing plant by January 2015. Local Business Wed, 29 Oct 2014 01:00:00 GMT Smart Mobile expands; introduces phone insurance http://www.jamaicaobserver.com/business/Smart-Mobile-expands--introduces-phone-insurance_17819623s-phone LOCAL phone repair and accessory company, Smart Mobile Solutions, is looking to reduce the mobile expenditure of individuals by up to 78 per cent with its newest product - Mobile Protection Plan (MPP). Local Business Wed, 29 Oct 2014 02:00:00 GMT Diversification is a team effort http://www.jamaicaobserver.com/business/Diversification-is-a-team-effort_17819723 A common saying among investors - "My funds are invested in four different institutions; my portfolio is diversified". Is it really? Is that the true essence of diversification? Let us explore this notion a bit further. Local Business Wed, 29 Oct 2014 02:00:00 GMT IDT awards NBC clerical workers 17% pay rise http://www.jamaicaobserver.com/business/IDT-awards-NBC-clerical-workers-17--pay-rise_17819744 THE Industrial Disputes Tribunal (IDT) awarded most of the clerical employees of National Commercial Bank Jamaica (NCB) Group a near-17 per cent salary increase. Local Business Wed, 29 Oct 2014 01:00:00 GMT Half of compensation for consumer complaints were from car sales http://www.jamaicaobserver.com/business/Half-of-compensation-for-consumer-complaints-were-from-car-sales_17810570 per cent of Local Business Wed, 29 Oct 2014 02:00:00 GMT Bidders on 'Portmore of MoBay' lands have 2 months to make an offer http://www.jamaicaobserver.com/business/Bidders-on--Portmore-of-MoBay--lands-have-2-months-to-make-an-offer_17818749 The Development Bank of Jamaica (DBJ) plans to close its tender on January 9, 2014. Local Business Wed, 29 Oct 2014 02:00:00 GMT Scotia to open financial centre in MoBay http://www.jamaicaobserver.com/business/Scotia-to-open-financial-centre-in-MoBay_17819012 In three weeks, Scotiabank will open the doors to its new one-stop financial centre in Montego Bay. Local Business Wed, 29 Oct 2014 02:00:00 GMT Margaritaville Turks projects record revenues for 2015 http://www.jamaicaobserver.com/business/Margaritaville-Turks-projects-record-revenues-for-2015_17820038 MARGARITAVILLE Turks & Caicos (TCI) projects record revenues for 2015 based on the further growth in cruise passengers. Local Business Wed, 29 Oct 2014 02:00:00 GMT American, US Airways merging mile programmes http://www.jamaicaobserver.com/business/American--US-Airways-merging-mile-programmes_17818647 Texas, USA Financial Wed, 29 Oct 2014 01:00:00 GMT Eppley to make $250-m preference share offer next week http://www.jamaicaobserver.com/business/Eppley-to-make--250-m-preference-share-offer-next-week_17819719 FINANCIAL outfit Eppley Limited aims to raise $250 million in a new preference share offer which opens November. Local Business Wed, 29 Oct 2014 02:00:00 GMT Toyota at top in global vehicle sales over VW, GM http://www.jamaicaobserver.com/business/Toyota-at-top-in-global-vehicle-sales-over-VW--GM-_17818812 TOKYO, Japan (AP) — Toyota kept its lead over rivals Volkswagen and General Motors as the world's top-selling automaker in the first nine months of the year, Monday reporting record sales of 7.615 million vehicles, up nearly three per cent from the previous year. Local Business Wed, 29 Oct 2014 02:00:00 GMT Out-of-patience investors sell off Amazon http://www.jamaicaobserver.com/business/Out-of-patience-investors-sell-off-Amazon_17818711 After all, when Amazon.com filed for its IPO 17 years ago, it was very clear: the company would post losses for the "foreseeable future" while it invested in the business to drive bigger and bigger sales. Stockholders seemed to like playing Bezos' long game: shares more than quadrupled between 2010 and 2014 to over US$400 apiece. Local Business Wed, 29 Oct 2014 02:00:00 GMT