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 NCB profit hits J$6 billion at the six-month mark http://www.jamaicaobserver.com/business/NCB-profit-hits-J-6-billion-at-the-six-month-mark_59341 The commercial banking portfolio of the National Commercial Bank Jamaica Limited (NCBJ) led profit for the finance house for the six months ended March 31, 2016 which totalled J$6 billion for all segments. Local Business Fri, 29 Apr 2016 02:00:00 GMT Jamaica one of the top 20 riskiest nations http://www.jamaicaobserver.com/business/Jamaica-one-of-the-top-20-riskiest-nations_58884 Haiti may have recently suffered a terrible earthquake and an outbreak of cholera, but it is Jamaica that is ranked as the country with the highest risk of natural disaster in the Caribbean — and ranks as 20th in the world, according to the recently published World Risk Report 2015. Local Business Fri, 29 Apr 2016 00:00:00 GMT Manufacturers should prove T&T subsidies are unfair http://www.jamaicaobserver.com/business/Manufacturers-should-prove-T-T-subsidies-are-unfair_59207 The Anti-Dumping and Subsidies Commission (ADC) said Wednesday that it is encouraging local manufacturers who have concerns about subsidisation by Trinidad & Tobago of its manufacturers to file a complaint for investigation. Cases, however, must be specific and provable, the Commission said. Local Business Fri, 29 Apr 2016 00:00:00 GMT Expo Ja 2016 pulls buyers from five new countries http://www.jamaicaobserver.com/business/Expo-Ja-2016-pulls-buyers-from-five-new-countries_59212 In a Post-Expo Jamaica fact sheet presented to the Jamaica Observer by the Jamaica Promotions Corporation (Jampro), it was highlighted that for the first time since Expo Jamaica’s conception, it had seen buyers attending from Poland, Switzerland, Malaysia, China and Guatemala. Local Business Fri, 29 Apr 2016 02:00:00 GMT Embassy Suites by Hilton to open in St Kitts in 2017 http://www.jamaicaobserver.com/business/Embassy-Suites-by-Hilton-to-open-in-St-Kitts-in-2017_59210 Sterling Investment Ltd (SIL), an associate company of Sterling Asset Management Ltd, indicates in its just released annual report for 2015 that its investment, comprising units in a beachfront hotel in St Kitts and Nevis, should start delivering returns in the next year. Local Business Fri, 29 Apr 2016 02:00:00 GMT Lee-Chin urges 5% annual GDP growth within five years http://www.jamaicaobserver.com/business/Lee-Chin-urges-5--annual-GDP-growth-within-five-years_59338 JAMAICAN-born billionaire investor Michael Lee-Chin confirmed yesterday that the target of the new Economic Growth Council (EGC), which he chairs, will be a five per cent of GDP annual growth rate. Local Business Fri, 29 Apr 2016 02:00:00 GMT JAPEX 2016 sees launch of new travel website http://www.jamaicaobserver.com/business/JAPEX-2016-sees-launch-of-new-travel-website_59215 JAPEX is the premier trade event and the single most important business generator for Jamaica’s tourism industry. JAPEX 2016 is set to launch today – at the Montego Bay Convention Centre, and it will run until May 1st. Local Business Fri, 29 Apr 2016 02:00:00 GMT How can the Economic Growth Council help Jamaica achieve 5% economic growth? http://www.jamaicaobserver.com/business/How-can-the-Economic-Growth-Council-help-Jamaica-achieve-5--economic-growth-_59330 Michael Lee-Chin assumed the chairmanship of the Economic Growth Council (EGC) the day before yesterday, saying, “As chairman of the EGC, I pledge that the EGC will work tirelessly and passionately to achieve a GDP (gross domestic product) growth rate of five per cent over the next four years.” Local Business Fri, 29 Apr 2016 02:00:00 GMT Discounts reduce revenue for TCL, but cost cutting boosts profit http://www.jamaicaobserver.com/business/Discounts-reduce-revenue-for-TCL--but-cost-cutting-boosts-profit_59216 The first quarter in 2016 for Trinidad Cement Limited (TCL) produced profit of TT$55.5 million (US$1 =TT$6.64) — an increase of 30 per cent year over year. Local Business Fri, 29 Apr 2016 02:00:00 GMT Wheatley: There’s room for more females in ICT http://www.jamaicaobserver.com/business/Wheatley--There-s-room-for-more-females-in-ICT_59307 MINISTER of Science and Technology Dr Andrew Wheatley has underscored the need for greater female involvement in the field of information and communication technology (ICT). Local Business Fri, 29 Apr 2016 00:00:00 GMT Child labour alive and well in Haiti http://www.jamaicaobserver.com/business/Child-labour-alive-and-well-in-Haiti_59233 PORT-AU-PRINCE, Haiti (AFP) — Seated on an earthen floor on the outskirts of Haiti’s capital city, seven-year-old Samuel Jean fashions a little boat from a piece of wrought iron. Local Business Fri, 29 Apr 2016 02:00:00 GMT NCB profit hits J$6 billion at the six-month mark http://www.jamaicaobserver.com/business/NCB-profit-hits-J-6-billion-at-the-six-month-mark KINGSTON, Jamaica — The commercial banking portfolio of the National Commercial Bank Jamaica Limited (NCBJ) led profit for the finance house for the six months ended March 31, 2016, which totalled J$6 billion for all segments. Local Business Thu, 28 Apr 2016 17:54:06 GMT Lee Chin heads Economic Growth Council http://www.jamaicaobserver.com/business/Lee-Chin-heads-Economic-Growth-Council_59046 Chairman of the National Commercial Bank Michael Lee Chin has been appointed chairman of the Economic Growth Council. Local Business Wed, 27 Apr 2016 00:00:00 GMT Quisk says Jamaica is fertile ground for mobile banking software http://www.jamaicaobserver.com/business/Quisk-says-Jamaica-is-fertile-ground-for-mobile-banking-software_59037 DAVID Koerner, director of marketing at Silicon Valley-based start-up Quisk, Inc thinks that Jamaica’s comparatively high mobile phone penetration makes it ideally suited for the introduction of its Finovate mobile banking solution. Local Business Wed, 27 Apr 2016 00:00:00 GMT BOJ says dialogue over correspondent banking is yielding some results http://www.jamaicaobserver.com/business/BOJ-says-dialogue-over-correspondent-banking-is-yielding-some-results_58943 THE Bank of Jamaica (BOJ) said Monday it has been engaged in dialogue over the problem posed to the local economy by correspondent banks which seem set on reducing their services to banks in the Caribbean region. Local Business Wed, 27 Apr 2016 00:00:00 GMT EXIM to lower rate http://www.jamaicaobserver.com/business/EXIM-to-lower-rate_59041 The National Export Import Bank of Jamaica Limited (EXIM Bank) will be lowering its Jamaican-dollar loan rates by 0.5 percentage points and its US dollar by one percentage point for the 2016/17 fiscal year as part of plans to remain a competitive and viable lending institution. Local Business Wed, 27 Apr 2016 00:00:00 GMT Our people are the most important competitive edge — Mahfood http://www.jamaicaobserver.com/business/Our-people-are-the-most-important-competitive-edge---Mahfood_58975 President of the Private Sector Organisation of Jamaica (PSOJ) William Mahfood is encouraging business managers to create formal structures that minimise shared biased information in organisations. Local Business Wed, 27 Apr 2016 00:00:00 GMT Honey Bun plans five-way stock split http://www.jamaicaobserver.com/business/Honey-Bun-plans-five-way-stock-split_58858 Honey Bun Limited has advised that at a meeting held on April 19, 2016, the board decided on a five-way stock split, with each ordinary share of the company to be subdivided into five shares. Local Business Wed, 27 Apr 2016 00:00:00 GMT Exports fall for Caribbean Cement http://www.jamaicaobserver.com/business/Exports-fall-for-Caribbean-Cement_58952 Caribbean Cement Limited (CCL) reported in the first quarter —January to March 2016 — a decline in exported cement and clinker sales volumes of 53 per cent and 56 per cent respectively. Local Business Wed, 27 Apr 2016 00:00:00 GMT Construction project best practices http://www.jamaicaobserver.com/business/Construction-project-best-practices_58987 THE ideal construction project is smoothly executed with satisfied users, delivered on budget and on time, with few surprises and with the contractors having enjoyed a reasonable profit. However, construction projects ranging from renovations to the erection of large new buildings present myriad challenges such as confusion, complexity, error and dispute. Local Business Wed, 27 Apr 2016 00:00:00 GMT The head of the IDB’s new IIC visits Jamaica with new vision http://www.jamaicaobserver.com/business/The-head-of-the-IDB-s-new-IIC-visits-Jamaica-with-new-vision_59047 The Inter-American Investment Corporation (IIC), the private sector lending arm of the Inter-American Development Bank (IDB), as at November 1st last year, has a new chief executive officer (CEO), James Scriven. Local Business Wed, 27 Apr 2016 00:00:00 GMT Features, benefits, closing sales and fairy tales http://www.jamaicaobserver.com/business/Features--benefits--closing-sales-and-fairy-tales_58925 “What do you sell first?” Local Business Wed, 27 Apr 2016 00:00:00 GMT Ultra long-haul flights to increase tourism http://www.jamaicaobserver.com/business/Ultra-long-haul-flights-to-increase-tourism_58894 Jamaica may be approaching its maximum for tourist arrivals based on the island’s current infrastructure. The restriction is influenced by the fact that the two major international airports cannot support ultra long-haul flights — more than 12 hours airborne. Local Business Wed, 27 Apr 2016 00:00:00 GMT London boasts largest number of billionaires : rich list http://www.jamaicaobserver.com/business/London-boasts-largest-number-of-billionaires---rich-list_58917 LONDON, United Kingdom (AFP) — London has more billionaires – measured in pounds sterling – than any other city in the world, according to The Sunday Times newspaper’s Rich List 2016. Local Business Wed, 27 Apr 2016 00:00:00 GMT Airbus delivers first made-in-USA aircraft http://www.jamaicaobserver.com/business/Airbus-delivers-first-made-in-USA-aircraft_58908 NEW YORK, United States (AFP) — European aerospace giant Airbus delivered its first made-in-the-USA aircraft on Monday to mark a new stage in its battle for the home market of rival Boeing. Local Business Wed, 27 Apr 2016 00:00:00 GMT