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 Shaw says Gov't tax incentive scheme in confusion http://www.jamaicaobserver.com/business/Shaw-says-Gov-t-tax-incentive-scheme-in-confusion_18278852 OPPOSITION spokesman on finance and planning Audley Shaw has raised concern about what he sees as "confusion" surrounding the promulgation of the Government's competitive incentive scheme. Local News Mon, 26 Jan 2015 00:00:00 GMT Canadian gold mining company to cross-list its shares on JSE http://www.jamaicaobserver.com/business/Canadian-gold-mining-company-to-cross-list-its-shares-on-JSE_18273956 GOLD-MINING company Carube Resources Limited plans on cross-listing its shares on the Jamaica Stock Exchange (JSE) in the next six months. Local Business Sun, 25 Jan 2015 00:00:00 GMT Manufacturers to benefit from 50% reduction in custom fees http://www.jamaicaobserver.com/business/Manufacturers-to-benefit-from-50--reduction-in-custom-fees_18274444 THE Jamaica Manufacturing Association's (JMA) lobby for a waiver of the Customs Administration Fee (CAF) on intermediate goods has proved successful. Local Business Sun, 25 Jan 2015 00:00:00 GMT Edwards cashes out from Supreme Ventures http://www.jamaicaobserver.com/business/Edwards-cashes-out-from-Supreme-Ventures_18272831 Carlene Edwards has resigned from Supreme Ventures after some eight years in management. Local Business Sun, 25 Jan 2015 00:00:00 GMT New insecticide may halt multimillion losses from beet armyworm http://www.jamaicaobserver.com/business/New-insecticide-may-halt-multimillion-losses-from-beet-armyworm-_18273779 THE island-wide infestation of crops by the beet armyworm has resulted in a $150-million loss of revenue to farmers. This pest has been most pervasive in the parish of St Elizabeth. Local Business Sun, 25 Jan 2015 00:00:00 GMT Water Woes   http://www.jamaicaobserver.com/business/Water-Woes_18275408 Dear Claudienne Local Business Sun, 25 Jan 2015 03:00:00 GMT Petrol price reductions not in line with Petrojam http://www.jamaicaobserver.com/business/Petrol-price-reductions-not-in-line-with-Petrojam_18275199 Petrol prices have been declining at pumps nationwide, but the majority of the prices "have not been falling in line with Petrojam's price reduction," according to the results of a just-released National Petrol Price Survey by the Consumer Affairs Commission (CAC). Local Business Sun, 25 Jan 2015 00:00:00 GMT Soweto looting spree sends foreign shopkeepers fleeing http://www.jamaicaobserver.com/business/Soweto-looting-spree-sends-foreign-shopkeepers-fleeing_18274915 SOWETO, South Africa (AFP) — Nazil Munssi stared at his ravaged hardware store near Soweto township with tears in his eyes, despondent and terrified after anti-foreign mobs went on a looting rampage this week in South Africa. Local Business Sun, 25 Jan 2015 00:00:00 GMT Europe: Let the QE begin http://www.jamaicaobserver.com/business/Europe--Let-the-QE-begin-_18273785 Its a popular belief among economists that the USA and other countries, namely Japan and the United Kingdom, used quantitative easing or QE to help them from falling into a terrible depression. What exactly is QE and how does it work? Given Europe's current situation will QE work for them? Local Business Sun, 25 Jan 2015 00:00:00 GMT Oil market upheaval looms over Saudi succession http://www.jamaicaobserver.com/business/Oil-market-upheaval-looms-over-Saudi-succession-_18274942 RIYADH, SAUDI ARABIA -- King Abdullah's death could not have come at a worse time for Saudi Arabia's vital oil sector as the absolute monarchy seeks to reassert its leadership in a fast-changing industry. Local Business Sun, 25 Jan 2015 00:00:00 GMT ECB bazooka fires stock markets higher http://www.jamaicaobserver.com/business/ECB-bazooka-fires-stock-markets-higher_18275256 LONDON (AFP) The European Central Bank's bond-buying 'bazooka' fired global stock markets higher on Friday, but sent the euro diving to a new 11-year low. Local Business Sun, 25 Jan 2015 00:00:00 GMT Expedia to buy Travelocity http://www.jamaicaobserver.com/business/Expedia-to-buy-Travelocity_18274860 NEW YORK (AFP -- Expedia said Friday it is buying rival Travelocity in a $280-million deal merging two of the largest online travel operators. Local Business Sun, 25 Jan 2015 00:00:00 GMT JPS distributing free energy-efficient bulbs http://www.jamaicaobserver.com/business/JPS-distributing-free-energy-efficient-bulbs_18274549 JAMAICA Public Service (JPS) says it is now distributing free energy-efficient (fluorescent) light bulbs in selected parishes across the island. General News Sat, 24 Jan 2015 00:00:00 GMT Petrol price reductions not in line with Petrojam says Consumer Affairs Commission http://www.jamaicaobserver.com/business/Petrol-price-reductions-not-in-line-with-Petrojam-says-Consumer-Affairs-Commission KINGSTON, Jamaica - Petrol prices have been declining at pumps nation-wide, but the majority of the prices “have not been falling in line with Petrojam’s price reduction,” according to the results of a just-released National Petrol Price Survey by the Consumer Affairs Commission (CAC). Local Business Fri, 23 Jan 2015 13:37:49 GMT Despite losses... Petrol to stay below $100 per litre - PCJ http://www.jamaicaobserver.com/business/Despite-losses----Petrol-to-stay-below--100-per-litre---PCJS_18267101 PETROJAM, the national oil refinery, will continue offering petroleum below $100 per litre despite incurring losses for the last two months, stated Chris Cargill, chairman of Petroleum Corporation of Jamaica (PCJ). Local Business Fri, 23 Jan 2015 03:00:00 GMT Sagicor's Jewel enters franchising agreement with Hilton http://www.jamaicaobserver.com/business/Sagicor-s-Jewel-enters-franchising-agreement-with-Hilton_18266977 THE Sagicor Group, which officially took control of Hilton Rose Hall this week, has entered into a wider franchising agreement that allows it to use the 'Curio by Hilton' tagline for properties acquired in the Caribbean, Rohan Miller at Sagicor stated. Local Business Fri, 23 Jan 2015 01:00:00 GMT Phillips defends ballooning fees behing Tivoli Enquiry http://www.jamaicaobserver.com/business/Phillips-defends-ballooning-fees-behing-Tivoli-Enquiry_18265629 Finance minister Dr Peter Phillips defended the ballooning fees for the commissioners of the Tivoli Enquiry following a speech which touted the fiscal prudence of the Government. Local Business Fri, 23 Jan 2015 02:00:00 GMT Dollar depreciation slows as inflation falls http://www.jamaicaobserver.com/business/Dollar-depreciation-slows-as-inflation-falls_18258698 JAMAICA'S inflation numbers are decreasing significantly — largely driven by the steady decline in the price of oil in recent months -- and are likely to continue declining. Local Business Fri, 23 Jan 2015 02:00:00 GMT Goddard expands into printing in Jamaica http://www.jamaicaobserver.com/business/Goddard-expands-into-printing-in-Jamaica_18265972 Barbadian-based Goddard Enterprises Ltd aims to set up a digital printery in Jamaica amid increasing its Jamaican currency borrowings for the group to nearly $450 million, financials indicate. Local Business Fri, 23 Jan 2015 02:00:00 GMT Sea-island cotton to replace corn on JB land http://www.jamaicaobserver.com/business/Sea-island-cotton-to-replace-corn-on-JB-land_18266829 THE Jamaica Broilers Group (JBG) is looking to lease 150 acres of its SG Developments land for the cultivation of sea-island cotton. General News Fri, 23 Jan 2015 03:00:00 GMT BITU wants govt to address tax on loans to bank workers http://www.jamaicaobserver.com/business/BITU-wants-govt-to-address-tax-on-loans-to-bank-workers_18265605 THE Bustamante Industrial Trade Union (BITU) says that in rationalising taxation measures, the Government is not paying enough attention to the measures affecting the workers, who are also affected by the erosion of the dollar. Local Business Fri, 23 Jan 2015 03:00:00 GMT LIME customers may say adios to Spanglish at customer care http://www.jamaicaobserver.com/business/LIME-customers-may-say-adios-to-Spanglish-at-customer-care_18266244 The merger with Columbus Communications and LIME parent, Cable & Wireless PLC, could result in Canadian firm Telus International losing its customer service contract with LIME Jamaica, according to LIME Jamaica president Garry Sinclair. Local Business Fri, 23 Jan 2015 03:00:00 GMT St Lucia intends to regain position as best place to do business in Caribbean http://www.jamaicaobserver.com/business/St-Lucia-intends-to-regain-position-as-best-place-to-do-business-in-Caribbean_18265675 CASTRIES, St.Lucia (CMC) -- Prime Minister Dr Kenny Anthony has signalled his intention to introduce business and commercial reforms following reports of the country's steady decline as the best place to do business in the Caribbean and international community. Local Business Fri, 23 Jan 2015 03:00:00 GMT Grenada promotes multimillion yachting sector at Toronto International Boat Show http://www.jamaicaobserver.com/business/Grenada-promotes-multimillion-yachting-sector-at-Toronto-International-Boat-Show_18265366 ST GEORGE'S, Grenada — For the second consecutive year, Grenada promoted its mulitmillion-dollar yachting sector at the 51st Toronto International Boat Show in Canada from January 10 to 18. Local Business Fri, 23 Jan 2015 02:00:00 GMT Lowe sees US$500-m potential earnings from biotech exports http://www.jamaicaobserver.com/business/Lowe-sees--US500-m-potential-earnings-from-biotech-exports KINGSTON, Jamaica -- Executive chairman of Jamaica's Bio-Tech R&D Institute Dr Henry Lowe has predicted potential earnings of over US$500 million (J$57 billion) from his company's collaboration with US-based firm, TruBios. Local Business Thu, 22 Jan 2015 14:25:24 GMT