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 Rainforest Seafoods to launch into St Vincent and the Grenadines http://www.jamaicaobserver.com/business/Rainforest-Seafoods-to-launch-into-St-Vincent-and-the-Grenadines_68705 Rainforest Seafoods Ltd has announced that it will be investing approximately US$10 million in an expansion project at their Montego Bay plant, and will soon launch a new plant in St Vincent and the Grenadines, according to a news release. Local Business Fri, 29 Jul 2016 02:00:00 GMT Hawkeye breaks into T&T security market http://www.jamaicaobserver.com/business/Hawkeye-expands-overseas-into-TrinidadJoseph-Smith-to-head-operation-------_68671 Sean Clacken, CEO of Hawkeye Security Ltd, indicated this week that security expert Joseph Smith has been appointed managing director of Hawkeye’s new offices in Trinidad. Local Business Fri, 29 Jul 2016 02:00:00 GMT Tension rises as Lasco/Medimpex battle postponed to September http://www.jamaicaobserver.com/business/Tension-rises-at-Lasco-Medimpex-battle-postponed-to-September_68767 Shareholders of local traders Lasco Distributors and Medimpex Jamaica will have to wait at least another two months for damages arising from their battle with global pharmaceutical giant, Pfizer, to be decided in court. Local Business Fri, 29 Jul 2016 02:00:00 GMT Mara Made Designs — bringing life to fallen wood http://www.jamaicaobserver.com/business/Mara-Made-Designs---bringing-life-to-fallen-wood_68342 The company name Mara Made Designs announces the identity of Tamara Harding’s dream enterprise which, to her is more of a mission — to turn fallen wood into items of art, heart and desire. Local Business Fri, 29 Jul 2016 02:00:00 GMT We need a serious approach to development http://www.jamaicaobserver.com/business/We-need-a-serious-approach-to-development_68723 The current government has economic growth as its main thrust. The phrase coined by the Growth Council — “Five in four” — refers to the objective to have five per cent growth in four years. If this is achieved this would be a significant boost to our economic fortunes, and already we are seeing increased economic activity and higher levels of business and consumer confidence. Local Business Fri, 29 Jul 2016 02:00:00 GMT Jamaica beyond the IMF — confidence, access to capital and partnership (Part 3) http://www.jamaicaobserver.com/business/Jamaica-beyond-the-IMF-----confidence--access-to--------_68788 At the Private Sector Organisation of Jamaica annual economic seminar of July 12th, Minister of Finance Audley Shaw stated that the Government intended to negotiate a staff-monitored programme (SMP), defined as an informal and flexible instrument for dialogue between the International Monetary Fund staff and a member country on its economic policies, rather than a disbursing programme like the current Extended Fund Facility (EFF). Local Business Fri, 29 Jul 2016 02:00:00 GMT Massive food imports arrive in Venezuela from T&T http://www.jamaicaobserver.com/business/Massive-food-imports-arrive-in-Venezuela-from-TT-------_68563 PORT OF SPAIN, Trinidad and Tobago (AFP) — Trinidad and Tobago sent approximately 68 tonnes of food and commodities to crisis-hit Venezuela last week, with hundreds more tonnes set to arrive in the coming days, a Venezuelan official said. Local Business Fri, 29 Jul 2016 02:00:00 GMT Venezuela to reassign private, public workers to agriculture sector http://www.jamaicaobserver.com/business/Venezuela-to-reassign-private--public-workers-to-agriculture-sector-------_68567 CARACAS, Venezuela (AFP) — Venezuela on Tuesday said private and public companies will be obliged to let their workers be reassigned to grow crops, in a dramatic move in the middle of the country’s crippling economic crisis. Local Business Fri, 29 Jul 2016 02:00:00 GMT Record favourable prospects for the economy — JCB survey http://www.jamaicaobserver.com/business/Record-favourable-prospects-for-the-economy---JCB-survey_68472 Optimism in the Jamaican economy remains at record highs for both businesses and consumers, with the Jamaica Conference Board’s Business & Consumer Confidence Indices for the second quarter of 2016 reporting “record favourable prospects for the economy”. Local Business Wed, 27 Jul 2016 00:00:00 GMT Mahfood denies selling out to T&T during Rowley’s visit http://www.jamaicaobserver.com/business/Mahfood-denies-selling-out-to-T-T-during-Rowley-s-visit President of the Private Sector Organisation of Jamaica (PSOJ) William Mahfood has denied suggestions that he “sold out” to Trinidadian Prime Minister Keith Rowley, during the prime minister’s visit to Jamaica last week. Local Business Wed, 27 Jul 2016 04:48:27 GMT Quality Works finds sweet spot in software testing http://www.jamaicaobserver.com/business/Quality-Works-finds-sweet-spot-in-software-testing_67887 QualityWorks Consulting Group LLC, a software test consultancy firm based in Los Angeles, which expanded operations to Kingston, Jamaica, in 2015 from its home base in Los Angeles, has added clients in the United States, UK, and Jamaica in one year since hitting the outsourcing market. Founder Stacy Kirk is of Jamaican parentage. Local Business Wed, 27 Jul 2016 00:00:00 GMT Public sector reform does not have to mean job losses http://www.jamaicaobserver.com/business/Public-sector-reform-does-not-have-to-mean-job-losses_68351 Public sector reform doesn’t have to result in significant job losses, according to Dr Constant Lonkeng Ngouana, the new resident representative of the International Monetary Fund (IMF) in Jamaica. Local Business Wed, 27 Jul 2016 00:00:00 GMT Hangover from restructuring tempers Caribbean Cement results http://www.jamaicaobserver.com/business/Hangover-from-restructuring-tempers-Caribbean-Cement-results_68331 Caribbean Cement Company Ltd (CCC) posted net profit of $220.56 million for the second quarter ended June 2016, compared to $621.34 million realised in the similar period for 2015. Local Business Wed, 27 Jul 2016 00:00:00 GMT Bessa soon to break ground http://www.jamaicaobserver.com/business/Bessa-soon-to-break-ground_68367 Kingston Live Entertainment (KLE) group said this week that groundbreaking is imminent for Bessa, a resort project which has been in gestation since 2013. Local Business Wed, 27 Jul 2016 00:00:00 GMT KLE goes lean, reaping a second quarter of profits http://www.jamaicaobserver.com/business/KLE-goes-lean--reaping-a-second-quarter-of-profits_68365 Kingston Live Entertainment (KLE) Limited, which earlier this year sold non-core assets, is now benefiting from its leaner infrastructure and its implementation of a new restaurant system, directors say. Local Business Wed, 27 Jul 2016 00:00:00 GMT Court approves bidding process for Noranda’s upstream business http://www.jamaicaobserver.com/business/Court-approves-bidding-process-for-Noranda-s-upstream-business_68338 Noranda Aluminum Holding Corporation (NAHC) has received a court order approving and establishing the bidding procedure for sale of its upstream business, paving the way for auction of the company’s remaining operations in September. Local Business Wed, 27 Jul 2016 00:00:00 GMT Copy Cat head says declining dollar is a problem for small businesses http://www.jamaicaobserver.com/business/Copy-Cat-head-says-declining-dollar-is-a-problem-for-small-businesses_68329 Jonathan Watt, Managing Director of Copy Cat Ltd – printing and digital services provider in Kingston, says companies like his would grow faster and employ more in a more stable economic climate. Local Business Wed, 27 Jul 2016 00:00:00 GMT JaMFA credits Shaw for tremendous growth in microfinance sector http://www.jamaicaobserver.com/business/JaMFA-credits-Shaw-for-tremendous-growth-in-microfinance-sector_68492 Outgoing president of the Jamaica Micro Financing Association (JaMFA), Hurshell Cyrus, has credited Minister of Finance and Public Service Audley Shaw with the success of the microfinance sector in Jamaica. Local Business Wed, 27 Jul 2016 00:00:00 GMT Great potential for Caribbean growth — CIBC CEO http://www.jamaicaobserver.com/business/Great-potential-for-Caribbean-growth---CIBC-CEO-_68468 CIBC FirstCaribbean International Bank hosted a customer appreciation reception to welcome new CEO Gary Brown to Jamaica last week at the Terra Nova Hotel. Local Business Wed, 27 Jul 2016 00:00:00 GMT West Indies Petroleum raises $750 million via preference share offer http://www.jamaicaobserver.com/business/West-Indies-Petroleum-raises--750-million-via-preference-share-offer_68004 JMMB Group disclosed on Thursday, July 21, that its capital market unit had successfully placed a $750-million preference share offer on behalf of bunker fuel supplier, West Indies Petroleum (WIP) Limited, late last month. Local Business Wed, 27 Jul 2016 00:00:00 GMT Characteristics of the modern sales force http://www.jamaicaobserver.com/business/Characteristics-of-the-modern-sales-force_68448 A POWERFUL DRIVER OF REVENUES Local Business Wed, 27 Jul 2016 00:00:00 GMT Making a successful investment plan http://www.jamaicaobserver.com/business/Making-a-successful-investment-plan_68371 Many of us haven’t thought much about what matters most. Some of us save money monthly, but what about our long-term personal financial goals? Local Business Wed, 27 Jul 2016 00:00:00 GMT HEART Trust provides more MSME support http://www.jamaicaobserver.com/business/HEART-Trust-provides-more-MSME-support_68500 On Thursday last the HEART Trust/National Training Association (NTA) joined the list of state agencies and private sector investors to provide assistance to the micro, small and medium-sized sector when it launched the MSME Support Programme. The occasion also saw the signing of a memorandum of understanding between the training institution and the Jamaica Business Development Corporation (JBDC). Local Business Wed, 27 Jul 2016 00:00:00 GMT End of the road or new beginning for Yahoo? http://www.jamaicaobserver.com/business/End-of-the-road-or-new-beginning-for-Yahoo-_68441 WASHINGTON, United States (AFP) — It appears at first glance to be an ignominious fate for Yahoo, the internet pioneer which has long been one of the best-known names in Silicon Valley. Local Business Wed, 27 Jul 2016 00:00:00 GMT Donuts in flight in first US-approved drone delivery http://www.jamaicaobserver.com/business/Donuts-in-flight-in-first-US-approved-drone-delivery_68310 WASHINGTON, United States (AFP) — With a chicken sandwich, hot coffee and donuts, aviation history was made Friday. Local Business Wed, 27 Jul 2016 00:00:00 GMT