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 Facebook profit jumps to US$791m, ad revenues US$2.68b http://www.jamaicaobserver.com/business/Facebook-profit-jumps-to-US-791m--ad-revenues-US-2-68b NEW YORK (AFP) -- Facebook stock jumped to record highs Thursday as strong earnings from the leading social network sparked fresh buying. Local Business Thu, 24 Jul 2014 11:24:50 GMT Creating Equity With Your Work http://www.jamaicaobserver.com/business/Creating-Equity-With-Your-Work-_17214720 Marcus was elated when he opened the email from his client. His proposal to create the new brand images for the company had been accepted, and he was looking forward to working on the contract. This job, his most lucrative assignment to date, would help him to overcome some financial difficulties. Local Business Thu, 24 Jul 2014 02:00:00 GMT General Food building new supermarket complex http://www.jamaicaobserver.com/business/General-Food-building-new-supermarket-complex_17215788 General Food is constructing a new supermarket complex in Liguanea Plaza aimed at offering total shopping within one mega structure. Local Business Wed, 23 Jul 2014 02:00:00 GMT Battle for social media http://www.jamaicaobserver.com/business/Battle-for-social-media_17187780 THE fierce rivalry between telecoms giants LIME and Digicel has now moved into the social media arena as both companies battle for supremacy in the fast-growing communication medium. Local Business Wed, 23 Jul 2014 02:00:00 GMT World Bank hopes animation project will benefit 15,000 youth http://www.jamaicaobserver.com/business/World-Bank-hopes-animation-project-will-benefit-15-000-youth_17218757 THE World Bank expects its 'Youth in Digital and Animation' project valued at US$20 million (J$2.2 b) to benefit 15,000 Jamaican youth directly and indirectly. Local Business Wed, 23 Jul 2014 02:00:00 GMT Improvement in current account deficit http://www.jamaicaobserver.com/business/Improvement-in-current-account-deficit_17218758 DWINDLING oil imports and reduced payouts to foreign-owned companies narrowed Jamaica's current account deficit to its second lowest since the Great Recession, official data indicate. Local Business Wed, 23 Jul 2014 02:00:00 GMT Bogdanovich acquires KLE Group shares http://www.jamaicaobserver.com/business/Bogdanovich-acquires-KLE-Group-shares_17214391 The KLE Group, which runs a number of night clubs, now lists local investor Josef Bogdanovich as a top-ten shareholder at the listed company, according to public data from its registrar, Sagicor Bank. Local Business Wed, 23 Jul 2014 02:00:00 GMT Transformational leadership key to growth — Hylton http://www.jamaicaobserver.com/business/Transformational-leadership-key-to-growth---Hylton_17221012 Patrick Hylton reckons that transformational leadership is the missing ingredient in Jamaica's efforts to achieve economic growth. Local Business Wed, 23 Jul 2014 02:00:00 GMT Why investors need financial advisors http://www.jamaicaobserver.com/business/Why-investors-need-financial-advisors_17221340 PUTTING away funds for investment is very important. However, without professional help this seemingly simple task can be a daunting challenge for even the most disciplined investor. Even basic investments such as savings accounts and certificates of deposit must be managed if the intention of the owner of these accounts is, at the bare minimum, to preserve capital and maintain value. Local Business Wed, 23 Jul 2014 02:00:00 GMT Senior staff changes at GraceKennedy following La Fe Foods acquisition http://www.jamaicaobserver.com/business/Senior-staff-changes-at-GraceKennedy-following-La-Fe-Foods-acquisition_17220120 LOCAL food conglomerate GraceKennedy has announced senior management staff changes as it moves quickly to consolidate its recent US$26 million purchase of the operating assets and brand of USA food business, La Fe Foods Incorporated. Local Business Wed, 23 Jul 2014 02:00:00 GMT Giant King Grass being grown in Jamaica for bioenergy projects http://www.jamaicaobserver.com/business/Giant-King-Grass-being-grown-in-Jamaica-for-bioenergy-projects_17215489 RESOURCE BioEnergy Incorporated is now growing Giant King Grass in Jamaica for its bioenergy projects after signing a supply contract with California-based VIASPACE Incorporated. Local Business Wed, 23 Jul 2014 02:00:00 GMT Oil prices dip despite world tensions http://www.jamaicaobserver.com/business/Oil-prices-dip-despite-world-tensions_17221330 NEW YORK, USA — Oil prices fell modestly yesterday despite geopolitical tensions over war-torn Ukraine and a raging battle in the Gaza Strip. Local Business Wed, 23 Jul 2014 02:00:00 GMT NCB puts customers on FATCA notice http://www.jamaicaobserver.com/business/NCB-puts-customers-on-FATCA-notice_17219824 THE National Commercial Bank (NCB) has issued letters to some of its customers, notifying them that it will be making changes to their account-opening procedures. Local Business Wed, 23 Jul 2014 02:00:00 GMT JAS clears $80-m debt with Finsac http://www.jamaicaobserver.com/business/JAS-clears--80-m-debt-with-Finsac_17219971 THE Jamaica Agricultural Society (JAS) in June settled its $80-million debt with the Financial Sector Adjustment Company (Finsac). Local Business Wed, 23 Jul 2014 02:00:00 GMT Bob Marley made in China http://www.jamaicaobserver.com/business/Bob-Marley-made-in-China_17221443 DELHI, India — Legendary Jamaican reggae superstar Bob Marley continues to charm the globe with his image, 33 years after he died of cancer in 1981 at age 36. Local Business Wed, 23 Jul 2014 02:00:00 GMT Airlines symbolise nations’ hopes or reflect shame http://www.jamaicaobserver.com/business/Airlines-symbolise-nations--hopes-or-reflect-shame_17220234 NEW YORK, USA (AP) — The jetliner is much more than a machine used to get from one spot to another. It often carries deep symbolism, especially when flying for a national airline. Local Business Wed, 23 Jul 2014 02:00:00 GMT US companies report rising sales, employment in second quarter http://www.jamaicaobserver.com/business/US-companies-report-rising-sales--employment-in-second-quarter_17220265 DETROIT (AP) — Rising sales helped boost hiring and wages at US businesses in the second quarter, and companies are optimistic that the trends will continue this fall, according to a new survey by the National Association for Business Economics (NABBE) made public yesterday. Local Business Wed, 23 Jul 2014 02:00:00 GMT Canal to grow Panama's economy by 7% http://www.jamaicaobserver.com/business/Canal-to-grow-Panama-s-economy-by-7-_17215395 PANAMA CITY, Panama Local Business Wed, 23 Jul 2014 02:00:00 GMT US home sales increase 2.6 per cent in June http://www.jamaicaobserver.com/business/US-home-sales-increase-2-6-per-cent-in-June-_17220263 WASHINGTON (AP) — Sales of previously owned homes rose for a third straight month in June, pushing activity to the highest level in eight months and providing evidence that housing is regaining lost momentum. Local Business Wed, 23 Jul 2014 02:00:00 GMT Verizon second quarter profit rises 93 per cent http://www.jamaicaobserver.com/business/Verizon-second-quarter-profit-rises-93-per-cent-_17220282 NEW YORK (AP) — Verizon reported yesterday that its second-quarter earnings nearly doubled after it secured full ownership of Verizon Wireless. Local Business Wed, 23 Jul 2014 02:00:00 GMT Expired meat scandal spreads to Japan http://www.jamaicaobserver.com/business/Expired-meat-scandal-spreads-to-Japan-_17220252 SHANGHAI, China Local Business Wed, 23 Jul 2014 02:00:00 GMT RJ Reynolds vows to fight US$23.6B award to smoker’s widow http://www.jamaicaobserver.com/business/RJ-Reynolds-vows-to-fight-US-23-6B-award-to-smoker-s-widow_17220261 MIAMI, USA Local Business Wed, 23 Jul 2014 02:00:00 GMT Coke’s sales miss estimates as Diet Coke flags http://www.jamaicaobserver.com/business/Coke-s-sales-miss-estimates-as-Diet-Coke-flags_17220236 ATLANTA (AP) — Coca-Cola reported quarterly sales that fell short of Wall Street estimates yesterday as demand remained weak for Diet Coke in North America. Local Business Wed, 23 Jul 2014 02:00:00 GMT Exodus — Over 7,000 professionals left for North America since Great Recession http://www.jamaicaobserver.com/business/Exodus---Over-7-000-professionals-left-for-North-America-since-Great-Recession_17194515 OVER 7,000 managers and professionals left Jamaica for North America since the start of the Great Recession. Local Business Sun, 20 Jul 2014 02:00:00 GMT Columbus joins business telephone race http://www.jamaicaobserver.com/business/Columbus-joins-business-telephone-race_17178283 Columbus Business Solutions (CBS) is set to challenge the dominance of LIME in the business telephone market with its hosted PBX solution. General News Sun, 20 Jul 2014 02:00:00 GMT