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 Airline considers building new terminal at Ian Fleming Airport http://www.jamaicaobserver.com/business/Airline-considers-building-new-terminal-at-Ian-Fleming-Airport-_67906 Airline operator interCaribbean Airways is eyeing the construction of a US$25 million private air terminal at the Ian Fleming Airport, St Mary. Local Business Sun, 24 Jul 2016 00:00:00 GMT Simms replaces Hosin at the Bank of Jamaica on one year contract http://www.jamaicaobserver.com/business/Simms-replaces-Hosin-at-the-Bank-of-Jamaica-on-one-year-contract_68027 The Bank of Jamaica (BOJ) which on Wednesday June 19 announced the departure of deputy Governor Gayon Hosin, has now disclosed that her deputy, Maureen Simms, will step into the role of supervisor of the Financial Institutions Supervisory Division, but only on a one year contact and in an assisting role to the Governor of the Bank. Local Business Sun, 24 Jul 2016 00:00:00 GMT Now on to your mission http://www.jamaicaobserver.com/business/Now-on-to-your-mission_68022 You’ve got to eat while you dream. You’ve got to deliver on short-range commitments, while you develop a long-range strategy and vision and implement it. The success of doing both. Walking and chewing gum if you will. Getting it done in the short-range, and delivering a long-range plan, and executing on that. — Jack Welch Local Business Sun, 24 Jul 2016 00:00:00 GMT Risk-on! Are junk bonds good for me? http://www.jamaicaobserver.com/business/Risk-on--Are-junk-bonds-good-for-me-_68051 I continue to talk about junk bonds, because that’s where the money is. Junk bonds are defined as bonds below investment grade … that’s all they are. They are not something to be afraid of and to avoid. But they are risky, so you must choose wisely! Local Business Sun, 24 Jul 2016 00:00:00 GMT IUC gets lesson in record keeping http://www.jamaicaobserver.com/business/IUC-gets-lesson-in-record-keeping_67900 Dear Claudienne, Local Business Sun, 24 Jul 2016 00:00:00 GMT Top cocoa grower Ivory Coast stung by caterpillar invasion http://www.jamaicaobserver.com/business/Top-cocoa-grower-Ivory-Coast-stung-by-caterpillar-invasion_68058 ABIDJAN, Ivory Coast (AFP) — Cocoa crops in the world’s top producer, Ivory Coast, are being ravaged by caterpillars but authorities are playing down the new scourge, saying they have it under control. Local Business Sun, 24 Jul 2016 00:00:00 GMT British Jews seek Portuguese citizenship after Brexit vote http://www.jamaicaobserver.com/business/British-Jews-seek-Portuguese-citizenship-after-Brexit-vote_68053 LISBON, Portugal (AFP) — Hundreds of British Jews whose ancestors were forced to flee Portugal five centuries ago have applied for citizenship in the southern Local Business Sun, 24 Jul 2016 00:00:00 GMT ICAJ PAIB Round Table http://www.jamaicaobserver.com/business/ICAJ-PAIB-Round-Table_68047 Sharon Donaldson-Levine, managing director, General Accident Insurance Company Ltd and chairman of ICAJ’s new Professional Accountants in Business (PAIB) Committee (left) poses with fellow committee members Earl Samuels, assistant general manager, Group Finance and Mortgage Operations, Jamaica National Building Society; and Elaine Robinson, Campus Bursar, University of the West Indies, Mona at the PAIB Round Table which was hosted on Thursday at the Jamaica Pegasus Hotel in New Kingston. Themed “The Accountant’s Journey to Effective Leadership: The Audacity to Succeed”, the round table highlighted successful accountants in business and commerce and their journey to the pinnacle of the profession. Local Business Sun, 24 Jul 2016 00:00:00 GMT Profit plunges for Trinidad Cement as construction slows and restructuring costs bite http://www.jamaicaobserver.com/business/Profit-plunges-for-Trinidad-Cement-as-construction-slows-and-restructuring-costs-bite_68017 Trinidad Cement Ltd (TCL) in its report on the six-month period ending June 2016 indicated that profit which was significantly down on last year would have been better, but for the impact of a manpower restructuring exercise and write-down of inventory. Local Business Sun, 24 Jul 2016 00:00:00 GMT IMF boss Lagarde to stand trial over $400m payout http://www.jamaicaobserver.com/business/IMF-boss-Lagarde-to-stand-trial-over--400m-payout_68025 PARIS, France (AFP) — IMF chief Christine Lagarde was ordered Friday to stand trial in France over a massive state payout to a colourful tycoon when she was French economy minister, dealing a setback to her stellar career. Local Business Sun, 24 Jul 2016 00:00:00 GMT UK economy suffers ‘dramatic deterioration’ from Brexit vote http://www.jamaicaobserver.com/business/UK-economy-suffers--dramatic-deterioration--from-Brexit-vote_68061 LONDON, United Kingdom (AFP) — Britain’s economy was battered by the Brexit vote last month and faced a “dramatic deterioration” in activity as orders dried up and business investments were canned, key data showed Friday. Local Business Sun, 24 Jul 2016 00:00:00 GMT Time runs out for fatca filings http://www.jamaicaobserver.com/business/Time-runs-out-for-fatca-filings_67885 Tax Administration Jamaica (TAJ) announced on Wednesday July 20 that the new deadline for compliance reports to be submitted in accordance with the Foreign Account Tax Compliance Act (FATCA) will not be extended beyond July 22. The original deadline had been extended to facilitate latecomers. Local Business Fri, 22 Jul 2016 00:00:00 GMT JPS signs MOU in MoBay for first Smart House http://www.jamaicaobserver.com/business/JPS-signs-MOU-in-MoBay-for-first-Smart-House_67849 IRWIN, St James — The Jamaica Public Service Company (JPS) has moved a step closer to fulfilling its promise of introduce smart homes by the end of the year to its customers, starting with the second city, Montego Bay. Observer West Thu, 21 Jul 2016 00:00:00 GMT Evan Williams Renfrew Hotel dream finally comes alive http://www.jamaicaobserver.com/business/Evan-Williams-Renfrew-Hotel-dream-finally-comes-alive_67677 Architect Evan Williams’ decade concept of the Renfrew Hotel in New Kingston came alive Monday with a reception marking the start of construction of the hotel, scheduled to be opened on October 28, 2017. Local Business Wed, 20 Jul 2016 00:00:00 GMT JISCO to invest US$2 billion in Alpart http://www.jamaicaobserver.com/business/JISCO-to-invest-US-2-billion-in-Alpart_67646 Chinese company Jiuquan Iron and Steel (Group) Company Ltd (JISCO) and Russian mining company, UC RUSAL yesterday executed the agreement for the transfer of ownership of Alumina Partners of Jamaica (Alpart) which has its bauxite mining and alumina processing plant in Nain, St Elizabeth, to the Chinese enterprise. Local Business Wed, 20 Jul 2016 00:00:00 GMT One-on-One scores 100 http://www.jamaicaobserver.com/business/One-on-One-scores-100_67669 At age 12, when most boys would be yearning to play football, Ricardo Allen took on his first job as a janitor in a supermarket on Hagley Park Road to support his mother and siblings who resided in Falmouth, Trelawny. Local Business Wed, 20 Jul 2016 00:00:00 GMT Tishoo ready for full roll-out http://www.jamaicaobserver.com/business/Tishoo-ready-for-full-roll-out_67565 Challenges Local Business Wed, 20 Jul 2016 00:00:00 GMT Sandals increases investment in local cottage industries http://www.jamaicaobserver.com/business/Sandals-increases-investment-in-local-cottage-industries_67549 In a bid to stock its resort shops with more authentic Jamaican items, Sandals Resorts International has since last year invested over $15m in purchasing unique Jamaican crafts and products from local artisans and manufacturers. Local Business Wed, 20 Jul 2016 00:00:00 GMT Bill payments near the quarter-trillion mark http://www.jamaicaobserver.com/business/Bill-payments-near-the-quarter-trillion-mark_67617 Jamaicans spent $17 million more on bill payments last year than the year before, to bring the value of payments for utility and other services to a grand total of $227.7 billion. Local Business Wed, 20 Jul 2016 00:00:00 GMT GraceKennedy targets growth in import-dominated detergent market http://www.jamaicaobserver.com/business/GraceKennedy-targets-growth-in-import-dominated-detergent-market_67552 Two-thirds of Jamaicans like to launder with powdered detergent during the cleaning process, providing a market valued at an estimated at $15 billion per annum by grocery giant HiLo Food Stores, a subsidiary of GraceKennedy Ltd. Local Business Wed, 20 Jul 2016 00:00:00 GMT Sagicor Bank launches low-interest credit card for businesses http://www.jamaicaobserver.com/business/Sagicor-Bank-launches-low-interest-credit-card-for-businesses_67640 Sagicor Bank yesterday announced that it has launched a low-interest credit card for businesses of all sizes. Local Business Wed, 20 Jul 2016 00:00:00 GMT New US$8-million PCS to increase port revenue http://www.jamaicaobserver.com/business/New-US-8-million-PCS-to-increase-port-revenue_67652 Major Richard Reese, CEO & commissioner of Jamaica Customs Agency, has expressed confidence in the newly implemented port community system (PCS), noting that the implementation of its transhipment module alone is expected to save shipping lines approximately $57, given the fully automated Trans-shipment Bill (TSB) Processing System provided by the integration of ASYCUDA World and the PCS. Local Business Wed, 20 Jul 2016 00:00:00 GMT Dream Weekend imagines listing on the JSE http://www.jamaicaobserver.com/business/Dream-Weekend-imagines-listing-on-the-JSE_67535 As Dream Weekend continues to grow, Dream Entertainment – the company behind the successful Negril-based festival – is considering listing on the Jamaica Stock Exchange at some point in the future, as a potential way to raise funds for expanding the company and as a possible exit strategy. Local Business Wed, 20 Jul 2016 00:00:00 GMT Marketing: the key to sales success http://www.jamaicaobserver.com/business/Marketing--the-key-to-sales-success_67545 THE MISTAKE TOO MANY MANAGERS MAKE Local Business Wed, 20 Jul 2016 00:00:00 GMT Boost your profits with dividend-paying stocks http://www.jamaicaobserver.com/business/Boost-your-profits-with-dividend-paying-stocks_67610 The thought that provokes but tantalises the mind of every investor within this era, simply put is, “When will I see some returns?” A fair and legitimate question at that —how do modern-day investors realise returns off of their respective investments? Local Business Wed, 20 Jul 2016 00:00:00 GMT