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 http://www.jamaicaobserver.com/business/A-coal-miner-s-journey THE mysterious, black stones found in a passenger’s luggage earlier this week stumped Jamaican customs officers. Their smooth faces were a foot or more across and they had rough-hewn edges several inches deep. “They’re coal,” said their owner, Lincoln Bailey, but the gathered authorities were not convinced. Charcoal, they noted, left black smudges on everything it touched, but these did not. The rocks were impounded. Local Business Fri, 25 May 2012 02:31:56 GMT http://www.jamaicaobserver.com/business/A-double-scoop-of-ice-cream-for-the-Caribbean_11537580 THE Caribbean will soon have more options for satisfying its sweet tooth, with a Guyanese company and an American creamery pairing up to open ice-cream stores across the region. Local Business Fri, 25 May 2012 02:00:00 GMT http://www.jamaicaobserver.com/business/Standard--amp--Poor-says-debt-on-rise-in-Caribbean_11529952 A major rating agency says the global financial crisis has had a big impact in the tourism-dependent Caribbean. Financial Fri, 25 May 2012 02:00:00 GMT http://www.jamaicaobserver.com/business/The-case-for-fiscal-stimulus_11525131 LAST week I read with interest the comments to my article, and thought that it would be good to respond to these comments and explain the role of fiscal stimulus, and why it is important for Jamaica. The comments included that I always have a negative view on the economy, irrespective of which government is in power. Commentators also suggested that austerity is needed rather than fiscal stimulus, given that places like Europe have always had stimulus. Local Business Fri, 25 May 2012 02:00:00 GMT http://www.jamaicaobserver.com/business/Tourism-marketing-gets-its-ten-dollars_11538349 FIFTY per cent of the air passenger fees paid directly to the Tourism Enhancement Fund (TEF) will go toward marketing the Jamaica brand. Local Business Fri, 25 May 2012 02:00:00 GMT http://www.jamaicaobserver.com/business/JMMB-CCFG-deal-to-close-June-15_11542126 JAMAICA Money Market Brokers (JMMB) opened its formal offer to buy out Capital and Credit Financial Group (CCFG) today, giving shareholders up to June 15 to respond to its bid. Local Business Fri, 25 May 2012 02:00:00 GMT http://www.jamaicaobserver.com/business/Correction_11542376 A report on Pan Caribbean Financial Services in Wednesday's Business Observer incorrectly gave the company's 2011 profits as $1.22 billion. They were in fact $1.72 billion. We also stated that the previous year's first quarter result were record breaking when they were "one of the best" in the company's history. Local Business Fri, 25 May 2012 02:00:00 GMT http://www.jamaicaobserver.com/business/Shareholders-sue-Facebook_11529278 NEW YORK - A group of shareholders has filed a lawsuit against Facebook, its executives and Morgan Stanley, the lead underwriter in the company's IPO last Friday. Financial Fri, 25 May 2012 02:00:00 GMT http://www.jamaicaobserver.com/business/Achieving-Impossible-Dreams_11525549 In my continuous search for solutions to various kinds of money problems over the past 10 years, I have read dozens of books about money success and goal accomplishment. I thought that I was aware of all the top gurus in these genres and that I had analysed and assimilated all of their expert advice. Local Business Thu, 24 May 2012 02:00:00 GMT http://www.jamaicaobserver.com/business/World-Bank-slates-promotion-agencies_11525401 National investment promotion agencies are failing, says the World Bank. Local Business Wed, 23 May 2012 02:00:00 GMT http://www.jamaicaobserver.com/business/NCB-to-list-in-New-York-for-US-225m_11524889 NATIONAL Commercial Bank (NCB) has filed with the US Securities and Exchange Commission (SEC) for an initial public offering of US$225 million ($19.5 billion) on the New York Stock Exchange (NYSE). Local Business Wed, 23 May 2012 02:00:00 GMT http://www.jamaicaobserver.com/business/Divestment-team-prepares-Air-J-s-response_11525101 AIR Jamaica's divest-ment team is crafting a response to the growing criticisms being levelled at the company and its owners, Caribbean Airlines (CAL). Local Business Wed, 23 May 2012 02:00:00 GMT http://www.jamaicaobserver.com/business/Let-there-be-LEDs_11525345 THE country could save about half of what it spends to import LED lights if it made its own, according to Caribbean Maritime Institute (CMI) registrar Mark Broomfield. Local Business Wed, 23 May 2012 02:00:00 GMT http://www.jamaicaobserver.com/business/Down-90---JPS-leads-the-way-as-corporate-profits-slide_11525210 PUBLICLY listed companies reported mixed performance during the first three months of 2012. Local Business Wed, 23 May 2012 02:00:00 GMT http://www.jamaicaobserver.com/business/Shareholder-grills-PCFS-board_11525386 PAN CARIBBEAN Financial Services (PCFS) directors came under fire for not holding stock in the company during the annual general meeting yesterday. Local Business Wed, 23 May 2012 02:00:00 GMT http://www.jamaicaobserver.com/business/Ditch-LNG--go-green---global-think-tank_11518254 JAMAICA should pursue the investment opportunities presented by renewable energy rather than focus on fossil fuels like LNG, says a global think tank. Local Business Wed, 23 May 2012 02:00:00 GMT http://www.jamaicaobserver.com/business/Current-value-opportunities-in-the-market_11525067 In my last article, I gave readers an insight into the world of value investing by outlining a small history, its precepts and metrics that investors can use to value a stock. Since last week, stock markets around the world have been on the decline, including the Dow Jones Industrial Average (DJIA), essentially erasing the gains created earlier this year. On January 3, 2012, the DJIA stood at 12,397.38 points and rose to just shy of 13,280 on May 1, 2012. By May 18, 2012, the index closed at 12,369.38 points, a decline of 6.85 per cent in value. This is a good time for the value investor to start looking for opportunities as stock values will be depressed; stocks are at bargain prices. In this article I will examine a few opportunities to consider and the reasons why. The more the markets decline, the more value stocks become attractive. Local Business Wed, 23 May 2012 02:00:00 GMT http://www.jamaicaobserver.com/business/Organisers--Don-t-mess-with-the-Olympic-brand_11524276 LONDON - ONE day, the small espresso shop near the site of the London Games was the "Olympic" cafe. The next day, it was the "Lympic". Financial Wed, 23 May 2012 02:00:00 GMT http://www.jamaicaobserver.com/business/Where-are-Facebook-s-friends--Stock-slide-deepens_11525375 NEW YORK - Facebook's newly public stock is sliding further on its third trading day as investors reconsider how much the social network is worth. Local Business Wed, 23 May 2012 02:00:00 GMT http://www.jamaicaobserver.com/business/IMF-calls-on-UK-to-do-more-to-boost-economy_11524560 LONDON - THE International Monetary Fund has issued a tough assessment of UK economic policy, urging the coalition government and Bank of England to do more to boost demand in the economy. Financial Wed, 23 May 2012 02:00:00 GMT http://www.jamaicaobserver.com/business/The-justice-of-interim-payments_11525035 Everybody knows the maxim "justice delayed is justice denied" and few would disagree with it. Unfortunately, the reality of many justice systems, and certainly ours, is that the wheels of justice are often delayed. In the Supreme Court it can take four to five years, and sometimes longer, from the commencement of a claim to final judgment. Still more time is then needed for justice to be truly felt by the wronged party as he must then enforce his judgment and recover costs. Local Business Wed, 23 May 2012 02:00:00 GMT http://www.jamaicaobserver.com/business/Budget-alone-won-t-fix-the-tax-system_11525429 MINISTER of Finance Peter Phillips will reveal the tax measures required to finance the expenditure budget tomorrow. The unions have also advised that they are waiting to see the level of taxation before their planned meeting with Minister Phillips at the end of May. From a negotiating standpoint this makes perfect sense, as it is taxes that will allow the payment of public sector salaries. Even more critically, it is taxation that will determine our ability to repay our debt and renew our lending agreement with the IMF, which coincidentally expires the same day as the meeting with the unions. Local Business Wed, 23 May 2012 02:00:00 GMT http://www.jamaicaobserver.com/business/Survey-backs-reform-plan_11525392 MOST Jamaicans would benefit from the proposals made by the Private Sector Working Group (PSWG), a recent survey found. Local Business Wed, 23 May 2012 02:00:00 GMT http://www.jamaicaobserver.com/business/Eurozone-warned-of--severe-recession-_11524779 PARIS - The 17-country eurozone risks falling into a "severe recession," the Organisation for Economic Cooperation and Development warned yesterday, as it called on governments and Europe's central bank to act quickly to keep the slowdown from dragging down the global economy. Financial Wed, 23 May 2012 02:00:00 GMT http://www.jamaicaobserver.com/business/Oil-prices-hold-at-lows_11524808 NEW YORK - The price of oil is holding near seven-month lows following warnings of a "severe recession" in Europe and easing tensions over Iran's nuclear program. Financial Wed, 23 May 2012 02:00:00 GMT