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 Dolphin Cove has big plans for Prospect Outback Adventure http://www.jamaicaobserver.com/business/Dolphin-Cove-has-big-plans-for-Prospect-Outback-Adventure_71680 Dolphin Cove will be relaunching its Ocho Rios venue, Prospect Outback Adventure, as an all-inclusive theme park in a bid to increase tourist interest in the destination. Local Business Wed, 24 Aug 2016 00:00:00 GMT Firms wait to list on Junior Market of Jamaica Stock Exchange http://www.jamaicaobserver.com/business/Firms-wait-to-list-on-Junior-Market-of-Jamaica-Stock-Exchange_71642 Gary Peart, CEO of Mayberry Investments Ltd, indicated yesterday that the company has “several” firms waiting for listing on the Junior Market of the Jamaica Stock Exchange (JSE). However, the prospectus for each of these companies cannot be released until new legislation revising market incentives are passed in Parliament. Local Business Wed, 24 Aug 2016 00:00:00 GMT Agreement reached for completion of Baha Mar project http://www.jamaicaobserver.com/business/Agreement-reached-for-completion-of-Baha-Mar-project_71675 NASSAU, Bahamas (CMC) – An agreement has been reached between the government and the Export Import (EXIM) Bank of China for the completion of the multi-billion dollar Baha Mar tourism project. Local Business Wed, 24 Aug 2016 00:00:00 GMT Blue Power to increase soap production http://www.jamaicaobserver.com/business/Blue-Power-to-increase-soap-production_71711 Dhiru Tanna, Chairman of Blue Power Ltd reported this week that profit for the company doubled in its first quarter ended July, noting that the results reflect improved margins in both the lumber and soap divisions, lower administrative costs, and higher financial income. Local Business Wed, 24 Aug 2016 00:00:00 GMT Outameni is back on the sale block http://www.jamaicaobserver.com/business/Outameni-is-back-on-the-sale-block_71600 One year after its first invited bids for the purchase of the Orange Grove estate in Trelawny, better known as Outmeni, the National Housing Trust (NHT) is again inviting applications for either the purchase or lease of the property. Local Business Wed, 24 Aug 2016 00:00:00 GMT Fine Spanish wines now distributed in Jamaica http://www.jamaicaobserver.com/business/Fine-Spanish-wines-now-distributed-in-Jamaica_71706 Bahia Principe is now the first resort in Jamaica to serve the Castillo de Damiel line of fine Spanish wines to its guests. Local Business Wed, 24 Aug 2016 00:00:00 GMT Hugh Reid to leave Scotia Jamaica Life Insurance Company http://www.jamaicaobserver.com/business/Hugh-Reid-to-leave-Scotia-Jamaica-Life-Insurance-Company_71684 With the pending resignation of the current president of its insurance arm, Scotia Jamaica Life Insurance Company Limited (SJLIC), Scotia Group is on the hunt for a fresh leadership for the subsidiary. Local Business Wed, 24 Aug 2016 00:00:00 GMT Drafting bottleneck: BOJ awaits new regulations for credit union oversight http://www.jamaicaobserver.com/business/Drafting-bottleneck--BOJ-awaits-new-regulations-for-credit-union-oversight_71601 Bank of Jamaica (BOJ) officials have confirmed that they are still awaiting the return of revised and new regulations which will provide the basis on which the central bank will initiate oversight of the 34-member credit union sector. Local Business Wed, 24 Aug 2016 00:00:00 GMT Cayman Authority mandates exclusive reporting officers for remittance companies http://www.jamaicaobserver.com/business/Cayman-Authority-mandates-exclusive-reporting-officers-for-remittance-companies_71603 GraceKennedy group whose subsidiary GraceKennedy Money Services (GKMS) operates branches of Western Union in the British Overseas Territory of the Cayman Islands is seeking an individual familiar with Cayman law to fill the role of Money Laundering reporting officer. Local Business Wed, 24 Aug 2016 00:00:00 GMT Bell Lewis rings in new role with GraceKennedy http://www.jamaicaobserver.com/business/Bell-Lewis-rings-in-new-role-with-GraceKennedy-_71607 Klao Bell Lewis has returned to Jamaica to become head of Corporate Communications at GraceKennedy, taking on the role on Monday this week. She will report to Don Wehby, Group Chief Executive Officer of GraceKennedy. Local Business Wed, 24 Aug 2016 00:00:00 GMT Risk, loss and portfolio objectives http://www.jamaicaobserver.com/business/Risk--loss-and-portfolio-objectives_71693 We all want the best possible returns on our investments. Not only that, we also want so see those returns quickly and to be reassured by those giving us financial advice that we will only gain and not incur any losses. Local Business Wed, 24 Aug 2016 00:00:00 GMT ¿Habla Español? JMMB’s new real estate fund could be for you http://www.jamaicaobserver.com/business/-Habla-Espa-ol--JMMB-s-new-real-estate-fund-could-be-for-you_71604 Jamaican investors with an interest in the new US dollar real estate fund established by the JMMB group in the Dominican Republic — when it becomes open to them — will need a minimum $127,000 (US$1000) to invest as well as the ability to speak Spanish. Local Business Wed, 24 Aug 2016 00:00:00 GMT Four key roles of salespeople http://www.jamaicaobserver.com/business/Four-key-roles-of-salespeople_71664 “To make their investment in personal selling pay off, companies expect a lot from their sales organisations. The expectations of salespeople can be viewed as achieving four key roles: financial contributor, change agent, communications agent, and customer value agent.” Local Business Wed, 24 Aug 2016 00:00:00 GMT Iran seeks closer ties with Cuba http://www.jamaicaobserver.com/business/Iran-seeks-closer-ties-with-Cuba_71720 HAVANA, Cuba (AFP) — Iran wants to forge a “new path” in its relations with Cuba by tightening ties, Foreign Minister Mohammad Javad Zarif said Monday at the start of a Latin American tour. Local Business Wed, 24 Aug 2016 00:00:00 GMT The Olympics are over for Brazil — was it worth it? http://www.jamaicaobserver.com/business/The-Olympics-are-over-for-Brazil---was-it-worth-it-_71591 RIO DE JANEIRO, Brazil (AFP) — The Olympics ended Sunday with Brazil having shown twice in two years that it is capable of hosting the world’s biggest sporting events. But was the effort worth the trouble? Local Business Wed, 24 Aug 2016 00:00:00 GMT Oil prices jump on report Iran could support OPEC limits http://www.jamaicaobserver.com/business/Oil-prices-jump-on-report-Iran-could-support-OPEC-limits_71713 NEW YORK, United States (AFP) — Oil prices jumped yesterday after a new report that Iran could support an effort by OPEC and Russia to freeze production and firm up prices. Local Business Wed, 24 Aug 2016 00:00:00 GMT German ratings minnow takes aim at US whales http://www.jamaicaobserver.com/business/German-ratings-minnow-takes-aim-at-US-whales_71612 BERLIN, Germany (AFP) — The latest European challenge to the all-powerful US credit ratings agencies doesn’t come from the continent’s financial capital Frankfurt, but Berlin — better known for raves than banking. Local Business Wed, 24 Aug 2016 00:00:00 GMT Pfizer to acquire Medivation for US$14 billion http://www.jamaicaobserver.com/business/Pfizer-to-acquire-Medivation-for-US-14-billion_71582 NEW YORK, United States (AFP) — US pharmaceutical giant Pfizer announced Monday that it will acquire Medivation for about US$14 billion, besting Sanofi and other large drug companies that had sought the biotech firm’s lucrative cancer treatments. Local Business Wed, 24 Aug 2016 00:00:00 GMT How companies are cashing in on Pokemon Go http://www.jamaicaobserver.com/business/How-companies-are-cashing-in-on-Pokemon-Go_71596 PARIS, France (AFP) — Pokemon Go has sent millions of people onto the streets in a worldwide hunt for virtual monsters — and from neighbourhood restaurants to multi-national corporations, businesses smell a profit. Local Business Wed, 24 Aug 2016 00:00:00 GMT Benin revives hopes of getting railway back on track http://www.jamaicaobserver.com/business/Benin-revives-hopes-of-getting-railway-back-on-track_71593 COTONOU, Benin (AFP) — At the old train station in Benin’s economic capital Cotonou, a rundown locomotive imported from France in the 1960s arduously roars to life, ready to haul 600 tonnes of goods to an inland city. Local Business Wed, 24 Aug 2016 00:00:00 GMT Nigerians look to traditional gods for economic salve http://www.jamaicaobserver.com/business/Nigerians-look-to-traditional-gods-for-economic-salve_71622 OSOGBO, Nigeria (AFP) — Wearing pristine white gowns and cowry shells, red feathers in their hair, a group of Nigerian priestesses sang as they slaughtered chickens for the river goddess, asking for good fortune in these turbulent times. Local Business Wed, 24 Aug 2016 00:00:00 GMT DR Congo’s second city poisoned by years of mining http://www.jamaicaobserver.com/business/DR-Congo-s-second-city-poisoned-by-years-of-mining_71584 LUBUMBASHI, DR Congo (AFP) — “In this stream, the fish vanished long ago, killed by acids and waste from the mines,” says Lubumbashi resident Heritier Maloba, staring into the murky waters of his childhood fishing hole. Local Business Wed, 24 Aug 2016 00:00:00 GMT Worldwide concern over ‘too many immigrants’— study http://www.jamaicaobserver.com/business/Worldwide-concern-over--too-many-immigrants---study_71678 PARIS, France (AFP) — People throughout the world are becoming increasingly uncomfortable with immigration levels, which are higher than any time since the Second World War, according to a new survey published Monday. Local Business Wed, 24 Aug 2016 00:00:00 GMT Irish immigration turns positive for first time in seven years http://www.jamaicaobserver.com/business/Irish-immigration-turns-positive-for-first-time-in-seven-years_71672 DUBLIN, Ireland (AFP) — More people came to live in Ireland in the year to the end of April than emigrated for the first time since 2009, with thousands of Irish citizens returning to the Emerald Isle, official figures showed yesterday. Local Business Wed, 24 Aug 2016 00:00:00 GMT India names Reserve Bank of India deputy as new governor http://www.jamaicaobserver.com/business/India-names-Reserve-Bank-of-India-deputy-as-new-governor_71619 NEW DELHI, India (AFP) — The Indian government on Saturday named insider Urjit Patel as the new governor of the Reserve Bank of India, to replace popular central banker Raghuram Rajan when his term ends in September. Local News Wed, 24 Aug 2016 00:00:00 GMT