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 Kellogg's sales hurt as dieters drop Special K http://www.jamaicaobserver.com/business/Kellogg-s-sales-hurt-as-dieters-drop-Special-K NEW YORK (AP) — Kellogg's cereal sales are struggling, in part because Special K is falling out of fashion with dieters. Local Business Thu, 31 Jul 2014 19:04:07 GMT Managing Your Parents’ Finances http://www.jamaicaobserver.com/business/Managing-Your-Parents--Finances_17264848 Most parents will make selfless sacrifices for their children. Whether they work long hours to earn enough to defray current expenses or forgo their own pleasures to put aside for their future education, responsible parents will always find ways to provide for their children's financial needs. Local Business Thu, 31 Jul 2014 02:00:00 GMT LIME ‘Skool Aid’ programme to expand http://www.jamaicaobserver.com/business/LIME--Skool-Aid--programme-to-expand_17266043 Telecommunications firm LIME has announced that it will be expanding the yearly back-to school assistance provided to thousands of students under its 'Skool Aid' programme through a partnership with the Social Development Commission. Local News Thu, 31 Jul 2014 01:00:00 GMT Foska Oats latest product a big hit http://www.jamaicaobserver.com/business/Foska-Oats-latest-product-a-big-hit_17272151 MOTORISTS travelling through New Kingston yesterday received an early morning treat as Caribbean Premier League (CPL) T20 sponsors Foska Oats stepped up promotions for their newest product. General News Thu, 31 Jul 2014 01:00:00 GMT Commonwealth buying local merchant bank http://www.jamaicaobserver.com/business/Commonwealth-buying-local-merchant-bank_17220116 NEW York-based Commonwealth Partners (CWP) has inked a deal to buy a majority stake in local merchant bank, MF&G Trust Finance Limited. Local Business Wed, 30 Jul 2014 02:00:00 GMT Paymaster relaunches improved Loyalty Rewards Programme http://www.jamaicaobserver.com/business/Paymaster-relaunches-improved-Loyalty-Rewards-Programme_17265834 PAYMASTER Jamaica Limited yesterday relaunched its Loyalty Rewards Programme, offering members up to $1.5 million in benefits which company CEO Audrey Marks said was a major upgrade. Local Business Wed, 30 Jul 2014 02:00:00 GMT Jamaica can earn big money from animation http://www.jamaicaobserver.com/business/Ja-can-earn-big-money-from-animation_17258718 The World Bank thinks the local animation industry can grow to US$69 million ($7.7 billion) in value in five years. As such, it is investing millions in the sector to attain this goal, but it's a loan that the Government must repay. Local Business Wed, 30 Jul 2014 02:00:00 GMT JMA/JNBS open FX window for businesses http://www.jamaicaobserver.com/business/JMA-JNBS-open-FX-window-for-businesses_17259295 The Jamaica Manufacturers' Association (JMA) has inked a US$50-million deal with Jamaica National Building Society (JNBS) that will grant JMA members easier access to foreign exchange. Local Business Wed, 30 Jul 2014 02:00:00 GMT ATL now authorised Daikin dealer in the Caribbean http://www.jamaicaobserver.com/business/ATL-now-authorised-Daikin-dealer-in-the-Caribbean_17238030 APPLIANCE Traders Limited (ATL) is now the authorised dealer for Daikin applied systems in the Caribbean. Local Business Wed, 30 Jul 2014 02:00:00 GMT Pay your taxes, JMA head tells businesses http://www.jamaicaobserver.com/business/Pay-your-taxes--JMA-head-tells-businesses_17263806 Jamaica Manufacturers' Association (JMA) President Brian Pengelley had nothing but unsettling words for business operators who choose not to pay their taxes. Local Business Wed, 30 Jul 2014 02:00:00 GMT Drought hits business owners http://www.jamaicaobserver.com/business/Drought-hits-business-owners-_17247964 AS Jamaica's dry spell continues, some business owners are now forced to dig deeper in their pockets to purchase trucked water to continue operations. Local Business Wed, 30 Jul 2014 02:00:00 GMT NCB reports 2Q $2.9b net profit http://www.jamaicaobserver.com/business/NCB-reports-2Q--2-9b-net-profit_17260372 National Commercial Bank (NCB) made $2.9 billion in net profit for its second quarter ending March or three-quarters more year on year, led by foreign currency gains and investment activities. Local Business Wed, 30 Jul 2014 02:00:00 GMT LIME Ja praised for 37% increase in 1Q mobile revenues http://www.jamaicaobserver.com/business/LIME-Ja-praised-for-37--increase-in-1Q-mobile-revenues_17262873 CABLE & Wireless Communications (CWC), the parent company of LIME, has lauded the Jamaica operations for achieving June 2014 first-quarter growth in mobile revenues up 37 per cent over year earlier levels. Local Business Wed, 30 Jul 2014 02:00:00 GMT PHOTO: Rush on Active Yard Sale http://www.jamaicaobserver.com/business/Rush-on-Active-Yard-Sale-_17263651 Shoppers sprint to be the first to grab great deals in Active Home Centre's first Annual Yard Sale held last Sunday at the company's Constant Spring Road location. The home enhancement retailer offered discounts up to 75 per cent off on new, overstocked, slightly damaged and showroom display items including tiles, bathroom fixtures, furniture, lighting, windows and doors. Local Business Wed, 30 Jul 2014 02:00:00 GMT NCB honours 259 long-serving staff members http://www.jamaicaobserver.com/business/NCB-honours-259-long-serving-staff-members_17260267 National Commercial Bank Jamaica Limited (NCB) last Thursday honoured 259 employees for service ranging from 10 to 40 years. Local Business Wed, 30 Jul 2014 02:00:00 GMT IDB praises Ja for leadership in regional venture capital market http://www.jamaicaobserver.com/business/IDB-praises-Ja-for-leadership-in-regional-venture-capital-market_17259574 Jamaica has jumped ahead of the English-speaking Caribbean in development of a venture capital industry, earning the effusive praise of the Inter-American Development Bank (IDB). Local Business Wed, 30 Jul 2014 02:00:00 GMT Operational changes improve efficiency at JN, says Jarrett http://www.jamaicaobserver.com/business/Operational-changes-improve-efficiency-at-JN--says-Jarrett-_17257120 The Jamaica National Building Society (JNBS) says several measures, including rationalisation of some of its rural locations and upgrades to its systems, assisted in improving operational efficiency and enhanced the banking experience of its members and customers. Local Business Wed, 30 Jul 2014 02:00:00 GMT Strong euro, taxes take bite out of Puma results http://www.jamaicaobserver.com/business/Strong-euro--taxes-take-bite-out-of-Puma-results-_17263680 FRANKFURT, Germany (AFP) — Puma, the German maker of sportswear and equipment, said yesterday that its sales and profit dropped in the second quarter due to currency pressures and a heavy tax bill. Local Business Wed, 30 Jul 2014 02:00:00 GMT Tips for your art http://www.jamaicaobserver.com/business/Tips-for-your-art_17266275 On the weekend, July 25 - 27, 2014, MF&G staged 'Trajectories: an Art Exhibition in honour of our 70th anniversary'. The event featured the works of veteran Jamaican artists juxtaposed with the works of upcoming modern Jamaican artists and filmmakers. The exhibition was open to our clients and members of the public. We share the following top tips which artists and art collectors may find useful. Local Business Wed, 30 Jul 2014 02:00:00 GMT Nissan expands recall prompted by faulty air bag http://www.jamaicaobserver.com/business/Nissan-expands-recall-prompted-by-faulty-air-bag-_17263679 NEW YORK (AP) — Nissan is recalling more than 226,000 additional vehicles over a defective air bag that has affected much of the global auto industry. Local Business Wed, 30 Jul 2014 02:00:00 GMT Honda's quarterly profit surges http://www.jamaicaobserver.com/business/Honda-s-quarterly-profit-surges_17263656 TOKYO (AP) — Honda's quarterly profit surged nearly 20 per cent on demand for remodelled cars in Japan and elsewhere in Asia. The Japanese automaker also raised its full-year profit and sales forecasts. Local Business Wed, 30 Jul 2014 02:00:00 GMT Deutsche Bank posts 29 per cent drop in profit http://www.jamaicaobserver.com/business/Deutsche-Bank-posts-29-per-cent-drop-in-profit-_17263645 BERLIN (AP) — Deutsche Bank AG posted a 29 per cent drop in second-quarter net profit released yesterday, hit by higher taxes, declining revenue and political instability affecting financial markets. Local Business Wed, 30 Jul 2014 02:00:00 GMT Nissan profit rises on strong sales, cheap yen http://www.jamaicaobserver.com/business/Nissan-profit-rises-on-strong-sales--cheap-yen-_17263667 TOKYO (AP) — Nissan's quarterly profit rose nearly 37 per cent, helped by a favourable exchange rate and healthy sales in North America and China. Local Business Wed, 30 Jul 2014 02:00:00 GMT Scotia Investments Stock Market wrap http://www.jamaicaobserver.com/business/Scotia-Investments-Stock-Market-wrap_17267017 Overall market activity resulted from trading in 16 stocks of which five advanced, eight declined and three traded firm. Market volume amounted to 2,697,027 units valued at over $23,475,530. LIME was the volume leader with 1,288,478 units (47.77 per cent) followed by Scotia Group Jamaica with 560,000 units (20.76 per cent) and Sagicor Group Jamaica Limited with 520,305 units (19.29 per cent). Local Business Wed, 30 Jul 2014 02:00:00 GMT EU sanctions to hit Russia where it hurts http://www.jamaicaobserver.com/business/EU-sanctions-to-hit-Russia-where-it-hurts-_17263633 BRUSSELS, Belgium (AFP) — The EU prepared yesterday to hit Russia where it hurts with tough economic sanctions as Moscow insisted the West can do it little harm and showed no sign of reversing course in Ukraine. Local Business Wed, 30 Jul 2014 02:00:00 GMT