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 Customs predicts surplus of $8 billion for 2016/17 http://www.jamaicaobserver.com/business/Customs-predicts-surplus-of--8-billion-for-2016-17_75339 The Jamaica Customs Agency (JCA) is anticipating revenue of roughly $202 billion, or $8 billion above the target set by the Ministry of Finance for its 2016/2017 financial year. Local Business Wed, 28 Sep 2016 00:00:00 GMT Chin says Pfizer case injunction set back Lasco’s growth by 500% http://www.jamaicaobserver.com/business/Chin-says-Pfizer-case-injunction-set-back-Lasco-s-growth-by-500-_75420 Chairman of Lasco Affiliated Companies, Lascelles Chin, says that an injunction granted to global pharmaceutical giant, Pfizer, by the local Supreme Court in 2005 cost his company a 500 per cent growth projection. Local Business Wed, 28 Sep 2016 00:00:00 GMT JWN invests US$1.2M in treatment system for Appleton Estate http://www.jamaicaobserver.com/business/JWN-invests-US-1-2M-in-treatment-system-for-Appleton-Estate_75068 Operator of Appleton Estate, J Wray & Nephew (JWN), says it has invested upwards of US$1.2 million in the implementation of a closed-loop sugar cane wash water treatment system following claims that the company was discharging effluent in the Black River. Local Business Wed, 28 Sep 2016 00:00:00 GMT Deposit takers see double-digit asset growth http://www.jamaicaobserver.com/business/Deposit-takers-see-double-digit-asset-growth_75338 Based on data submitted to the Bank of Jamaica (BOJ) by supervised institutions up to 5 August 2016, the assets of the island’s six commercial banks stood at $1.014 trillion, up by 19 per cent from the $852.05 billion held in July 2015 last year. Local Business Wed, 28 Sep 2016 00:00:00 GMT Scale-down in correspondent banking relationships affects mostly cambios – IMF http://www.jamaicaobserver.com/business/Scale-down-in-correspondent-banking-relationships-affects-mostly-cambios---IMF_75350 In its assessment of the decisions by global banks to scale back operations in Jamaica, the International Monetary Fund (IMF) says that the wider financial system has emerged largely unscathed. Local Business Wed, 28 Sep 2016 00:00:00 GMT Kremi whips up highest profit in 9 years http://www.jamaicaobserver.com/business/Kremi-whips-up-highest-profit-in-9-years_75395 CARIBBEAN Cream Limited, producer of Kremi ice cream, has ended its 2015/16 financial year on a high, posting profit of $163 million or 188 per cent more than the numbers posted a year earlier. Local Business Wed, 28 Sep 2016 00:00:00 GMT Liberty Global partners with Netflix Caribbean roll-out in 2017 http://www.jamaicaobserver.com/business/Liberty-Global-partners-with-Netflix-Caribbean-roll-out-in-2017_74574 International cable TV and broadband company, Liberty Global, has entered into a multi-year partnership with Netflix Inc which will allow video customers of Liberty Global across more than 30 countries around the world to view its content. Local Business Wed, 28 Sep 2016 00:00:00 GMT Common fears investors face http://www.jamaicaobserver.com/business/Common-fears-investors-face_75369 Open the door and just jump. Simple enough instructions to follow, right? Except the door in question is on a plane thousands of feet up in the air. It becomes an entirely different matter at this point. Fear takes over, and one might freeze or entirely avoid the process of skydiving. Local Business Wed, 28 Sep 2016 00:00:00 GMT What gets measured gets done; the JSE Corporate Governance Index http://www.jamaicaobserver.com/business/What-gets-measured-gets-done--the-JSE-Corporate-Governance-Index_75396 Corporate governance encapsulates those processes and systems by which organisations are directed, controlled and held accountable. Corporate governance ensures that the gears of the corporate machine are turning smoothly, and that productivity is achieved. Local Business Wed, 28 Sep 2016 00:00:00 GMT What is your brand mantra? http://www.jamaicaobserver.com/business/What-is-your-brand-mantra-_75388 Brand positioning describes how a brand can effectively compete against a specified set of competitors in a particular market. Local Business Wed, 28 Sep 2016 00:00:00 GMT Immigrants a possible boon to host economies, IMF says http://www.jamaicaobserver.com/business/Immigrants-a-possible-boon-to-host-economies--IMF-says_75381 WASHINGTON, United States (AFP) — The International Monetary Fund yesterday said immigration could help boost economic growth in host countries and called for the swift integration of new workers to help surmount political tensions. Local Business Wed, 28 Sep 2016 00:00:00 GMT Britain braces for ‘hard Brexit’ http://www.jamaicaobserver.com/business/Britain-braces-for--hard-Brexit-_75302 LONDON, United Kingdom (AFP) — The prospect of a “hard Brexit”, or a total divorce between Britain and the European Union, is on the rise, posing complications for businesses and ordinary citizens alike. Local Business Wed, 28 Sep 2016 00:00:00 GMT Ex-IMF boss Rato on trial over bankers’ luxury sprees http://www.jamaicaobserver.com/business/Ex-IMF-boss-Rato-on-trial-over-bankers--luxury-sprees_75299 SAN FERNANDO DE HENARES, Spain (AFP) — Former IMF chief Rodrigo Rato went on trial Monday accused of overseeing a “corrupt system” that helped him and other executives misuse millions when he was the boss of a major Spanish bank. Local Business Wed, 28 Sep 2016 00:00:00 GMT California dreamin’ for Chinese investors in US http://www.jamaicaobserver.com/business/California-dreamin--for-Chinese-investors-in-US_75312 LOS ANGELES, United States (AFP) — From real estate, to high-tech firms to entertainment giants, Chinese investments in the United States, notably California, are moving at a dizzying pace and are on course to smash records again this year. Local Business Wed, 28 Sep 2016 00:00:00 GMT Japan sake pours overseas as local market dries up http://www.jamaicaobserver.com/business/Japan-sake-pours-overseas-as-local-market-dries-up_75311 OME, Japan (AFP) — Ozawa Shuzo brewery hums with activity as boxed bottles of sake are loaded onto trucks. But with the domestic market shrinking, more and more of it is bound for burgeoning overseas markets where the centuries-old drink is all the rage. Local Business Wed, 28 Sep 2016 00:00:00 GMT Philippines’ Duterte pivots to China, Russia as investors flee http://www.jamaicaobserver.com/business/Philippines--Duterte-pivots-to-China--Russia-as-investors-flee_75308 MANILA, Philippines (AFP) — Philippine President Rodrigo Duterte said Monday he would seek closer economic ties with China and Russia, as the local currency and stock market extended declines following Western criticism of his deadly war on crime. Local Business Wed, 28 Sep 2016 00:00:00 GMT Duhaje Jennings makes a beeline for the beehive http://www.jamaicaobserver.com/business/Duhaje-Jennings-makes-a-beeline-for-the-beehive Some people run away at the mere sight of a bee. But Duhajé Jennings, on the other hand, ran straight towards the beehive. Local News Tue, 27 Sep 2016 05:32:12 GMT Bee-keeping and honey production tips http://www.jamaicaobserver.com/business/Bee-keeping-and-honey-production-tips_69936 Site Selection Local News Tue, 27 Sep 2016 00:00:00 GMT Carib Cement says ‘minor glitch’ in supply resolved http://www.jamaicaobserver.com/business/Carib-Cement-says--minor-glitch--in-supply-resolved_75100 Caribbean Cement Company Limited on Saturday indicated that its kiln would be back to normal operation by yesterday, giving the company the capacity to produce cement at double the island’s peak demand. Local News Mon, 26 Sep 2016 00:00:00 GMT North coast business community welcomes expansion at Ian Fleming Int’l Airport http://www.jamaicaobserver.com/business/North-coast-business-community-welcomes-expansion-at-Ian-Fleming-Int-l-Airport_75154 TOURISM stakeholders in the northern section of the island have welcomed a recent announcement by Minister of Tourism Edmund Bartlett of plans to expand the runway at Ian Fleming International Airport in Boscobel, St Mary. Local Business Mon, 26 Sep 2016 02:00:00 GMT World Homes to roll out national housing programme http://www.jamaicaobserver.com/business/World-Homes-to-roll-out-national-housing-programme-_75032 Private development company World Homes Jamaica Limited says it will be rolling out a national housing programme with assistance from the National Housing Trust (NHT) to create more affordable housing options to contributors. Local Business Sun, 25 Sep 2016 00:00:00 GMT Digital revolution for hotel sector http://www.jamaicaobserver.com/business/Digital-revolution-for-hotel-sector-_75087 Jamaica’s hospitality sector will be introduced to a high-tech digital makeover when executives and developers converge in Montego Bay and Kingston on September 27 and 29, respectively, for an introduction to cutting edge content management software by Appliance Traders Limited (ATL) and partners Aruba. Local Business Sun, 25 Sep 2016 00:00:00 GMT Scotiabank goes Express http://www.jamaicaobserver.com/business/Scotiabank-goes-Express_75021 Having recognised that customer needs are shifting and that technology is changing the banking experience, Scotiabank on Friday opened its new service centre, Scotiabank Express, at its former Premier branch location. Local Business Sun, 25 Sep 2016 00:00:00 GMT Mortgage predicament http://www.jamaicaobserver.com/business/Mortgage-predicament_74775 Dear Claudienne, Local Business Sun, 25 Sep 2016 00:00:00 GMT NCB will compensate customers hit by ABM fraud http://www.jamaicaobserver.com/business/NCB-will-compensate-customers-hit-by-ABM-fraud_74710 At least 20 customers affected by the recent upsurge in fraudulent activities at automated banking machines (ABMs) will be compensated for their losses in accordance with their financial institution’s security guarantee agreement. Local Business Sun, 25 Sep 2016 01:00:00 GMT