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 Government will not pursue 'wholesale' lay-offs -- Phillips http://www.jamaicaobserver.com/business/Government-will-not-pursue--wholesale--lay-offs----Phillips_19231850 MINISTER of Finance and Planning, Dr Peter Phillips, says that the government will not pursue wholesale lay-offs of public sector workers, to meet the wage to GDP ratio target of nine per cent by March 2017. Local Business Sun, 04 Oct 2015 00:00:00 GMT Local retailers want TSO twice per year http://www.jamaicaobserver.com/business/Local-retailers-want-TSO-twice-per-year_19231847 FOLLOWING another successful year of Take Style Out (TSO), local retailers are now pushing for the event to be hosted twice per year. Local Business Sun, 04 Oct 2015 02:00:00 GMT Pension crisis looming - Chung http://www.jamaicaobserver.com/business/Pension-crisis-looming---Chung-_19231856 While being careful not to classify Jamaica's pension system as one in crisis, Dennis Chung says that it definitely has its challenges, which, if not addressed properly by the Government, could have a devastating impact on the country in the future. Local Business Sun, 04 Oct 2015 00:00:00 GMT On viruses, worms and Trojan http://www.jamaicaobserver.com/business/On-viruses--worms-and-Trojan_19231804 "The only truly secure system is one that is powered off, cast in a block of concrete and sealed in a lead-lined room with armed guards." -- Gene Spafford Local Business Sun, 04 Oct 2015 00:00:00 GMT Let's talk about risk http://www.jamaicaobserver.com/business/Let-s-talk-about-risk_19231815 MOST people get scared once they hear the word "risk" and involuntarily recoil whenever the word is mentioned. Such persons cannot be blamed for their aversion, as they may have been victims of someunfortunate event, such as the financial meltdown of the 1990s or the implosion of the UFOs (Unregistered Financial Organisations). However, the danger is that we might forego valuable investment opportunities by adopting this attitude. Local Business Sun, 04 Oct 2015 02:00:00 GMT Courts’ goodwill gesture http://www.jamaicaobserver.com/business/Courts--goodwill-gesture_19231786 Dear Claudienne, Local Business Sun, 04 Oct 2015 02:00:00 GMT New appointees to government boards http://www.jamaicaobserver.com/business/New-appointees-to-government-boards_19231822 Israel joins EXIM Local Business Sun, 04 Oct 2015 00:00:00 GMT PHOTO: Much aprreciated http://www.jamaicaobserver.com/business/Much-aprreciated-_19231860 (From left) Kevin Robertson and his wife Joanne, owners of Coyaba Beach Resort and Club in Montego Bay in conversation with William Mahfood, chairman of Wisynco and of the Prive Sector Organisation of Jamaica, at the Wisynco customer appreciation party for the western region which took place at the Rosehall Aqueduct in St James last week Sunday. (PHOTO: GARFIELD ROBINSON) Local Business Sun, 04 Oct 2015 00:00:00 GMT Lasco to invest 3m euros to double iCool production http://www.jamaicaobserver.com/business/Lasco-to-invest-3m-euros-to-double-iCool-production-_19231646 Lasco Manufacturing Ltd (LASM) will invest 3 million euros to double output of its new star drink performer iCool. Local Business Fri, 02 Oct 2015 00:00:00 GMT Crime killing Jamaican competitiveness http://www.jamaicaobserver.com/business/Crime-killing-Jamaican-competitiveness-_19231655 Crime continues to kill Jamaica's competitiveness, according to the Global Competitiveness Report 2015/16 released this week. Local Business Fri, 02 Oct 2015 00:00:00 GMT Digicel deploys mobile ad-blocking technology against Google, Facebook http://www.jamaicaobserver.com/business/Digicel-deploys-mobile-ad-blocking-technology-against-Google--Facebook_19231657 TELECOMMUNICATIONS giant Digicel has implemented ad-blocking technology to its network in a bid to force internet companies, such as Google, Yahoo and Facebook to pay for ads being displayed on the broadband. Local Business Fri, 02 Oct 2015 00:00:00 GMT Yes, JNBS! http://www.jamaicaobserver.com/business/Yes--JNBS-_19231693 Finance Minister Dr Peter Phillips has granted approval for Jamaica National Building Society (JNBS) to be converted to a commercial bank. Local News Fri, 02 Oct 2015 00:00:00 GMT Jamaica's debt still tops J$2 trillion http://www.jamaicaobserver.com/business/Jamaica-s-debt-still-tops-J-2-trillion_19231672 JAMAICA'S total public debt, based on the government's calculations, stood at just over $2 trillion at the end of July 2015. Local Business Fri, 02 Oct 2015 00:00:00 GMT What should Jamaica actually ask UK Prime Minister Cameron for? http://www.jamaicaobserver.com/business/What-should-Jamaica-actually-ask-UK-Prime-Minister-Cameron-for--_19231639 British Prime Minister David Cameron, faced with a call for reparations, may have faced an expectations gap in announcing an offer of a part payment of a prison (however needed), and a share in a regional Caribbean grant fund for infrastructure. This is despite the overall generosity of the package compared with past efforts. Local Business Fri, 02 Oct 2015 00:00:00 GMT Made of More http://www.jamaicaobserver.com/business/Made-of-More_19231557 The Made of More Entrepreneurs' Challenge, presented by Branson Centre of Entrepreneurship - Caribbean (BCoEC) and the Arthur Guinness Project, has come to a successful end with five entrepreneurs securing a total of US$130,000 in financing to grow their businesses. Local Lifestyle Fri, 02 Oct 2015 02:00:00 GMT Puerto Rico implements new tax amid economic struggles http://www.jamaicaobserver.com/business/Puerto-Rico-implements-new-tax-amid-economic-struggles_19231688 SAN JUAN, Puerto Rico (AP) — Puerto Rico implemented a new tax yesterday that will drive up prices of professional service, though economists warned it would lead to even more business closures and raise the cost of living for islanders struggling through a worsening economic crisis. Local Business Fri, 02 Oct 2015 00:00:00 GMT Builders vow to repair leak in Panama Canal http://www.jamaicaobserver.com/business/Builders-vow-to-repair-leak-in-Panama-Canal_19231689 MADRID, Spain (AFP) — Builders of a massive, trouble-plagued expansion of the Panama Canal said yesterday they will make repairs after the authorities there said it had sprung a leak. Local Business Fri, 02 Oct 2015 00:00:00 GMT Jamaican Style Money Guide: Poun' A Fret Can't Pay Ounce A Debt http://www.jamaicaobserver.com/business/Jamaican-Style-Money-Guide--Poun--A-Fret-Can-t-Pay-Ounce-A-Debt-_19231081 When we are faced with a difficult situation, sometimes we may not be mentally ready to accept a few wise words of advice. As the saying goes, "Misery loves company," and very often we secretly prefer to receive sympathetic gestures than to take positive action to eliminate our challenges. Local Lifestyle Thu, 01 Oct 2015 02:00:00 GMT TSO readies to hit the street http://www.jamaicaobserver.com/business/TSO-readies-to-hit-the-street BUSINESS owners and consumers are now gearing up for the highly-anticipated Jamaica Observer annual shopping event Take Style Out tomorrow. The event, which is now in its seventh staging is aimed at stimulating retail sales islandwide by offering of up to 80 per cent discounts on a number of items including household products, clothing and shoes. Local Business Wed, 30 Sep 2015 04:52:28 GMT Kremi to invest $100m in upgrade http://www.jamaicaobserver.com/business/Kremi-to-invest--100m-in-upgrade_19231305 Caribbean Cream, which trades as Kremi, aims to invest $100 million this year to more than double the base capacity of its mixing plant and rack storage space this year. Local Business Wed, 30 Sep 2015 02:00:00 GMT Up to US$10 billion possible in new Chinese investments http://www.jamaicaobserver.com/business/Up-to-US-10-billion-possible-in-new-Chinese-investments_19231315 Jamaica could see increased investment from China as that country's EXIM Bank prepares to offer investors financing to the tune of US$10 billion to secure a spot in the Special Economic Zones (SEZ) to be set up on the island. Local Business Wed, 30 Sep 2015 00:00:00 GMT Knutsford Express drives for increased fleet http://www.jamaicaobserver.com/business/Knutsford-Express-drives-for-increased-fleet_19231320 THE cross-country bus service Knutsford Express Ltd aims to increase its fleet size by one-third to roughly 27 buses in 2016. Local Business Wed, 30 Sep 2015 02:00:00 GMT Is an ETF a safe solution for your investment portfolio? http://www.jamaicaobserver.com/business/Is-an-ETF-a-safe-solution-for-your-investment-portfolio- AN exchange-traded fund (ETF) is relatively new to the investment world. It trades on the stock exchange like any other stock. The fund holds a set of assets which is designed to mimic an index in terms of composition. An index is a measurement of value of a particular section of the market. Local Business Wed, 30 Sep 2015 04:56:39 GMT Jamaica's pension system lags behind the English-speaking Caribbean http://www.jamaicaobserver.com/business/Jamaica-s-pension-system-lags-behind-the-English-speaking-Caribbean_19231300 IF pension reform is going have any meaningful impact on the Jamaican economy, then pensions must be addressed from the standpoint of being a human right and also within the context of globalisation and fiscal development of the country, according to Danny Roberts, head of the Hugh Lawson Shearer Trade Union Education Institute . Local Business Wed, 30 Sep 2015 02:00:00 GMT Photo: The 'Ganar Project' http://www.jamaicaobserver.com/business/Photo--The--Ganar-Project-_19231313 (From left) Nadia Moreno of Partners of Americas Inc; Therese Turner-Jones, Country Representative, Inter-American Development Bank (IDB); Andre Wilson, Youth for Development Network; and Eleanor Jones, Partners of the Americas, at the closing ceremony for the 'Ganar Project' at the Jamaica Pegasus hotel in Kingston on September 22. The project, sponsored by the Multilateral Investment Fund of the IDB, USAID, NCB Foundation and the Jamaica Social Investment Fund, was celebrating more than 700 "at-risk youths" who benefited from the programme. Participants learned entrepreneurship and skills via team sports like football and cricket to teach them entrepreneurship to help them fund jobs or re-enter the formal education system. (PHOTO: GARFIELD ROBINSON) Local Business Wed, 30 Sep 2015 02:00:00 GMT