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 Gov't to borrow at least J$129 billion in 2015/16 http://www.jamaicaobserver.com/business/Gov-t-to-borrow-at-least-J-129-billion-in-2015-16 KINGSTON, Jamaica - The Fiscal Policy Paper (FPP) for 2015/16 says that central government's borrowing for financial year 2015/16, which begins on April 1, will amount to approximately J$129 billion. Local News Mon, 02 Mar 2015 20:34:43 GMT Big increase in income tax, GCT revenue collection projected for 2015/16 http://www.jamaicaobserver.com/business/Big-increase-in-income-tax--GCT-revenues-projected-for-2015-16 KINGSTON, Jamaica - The Government is banking on significant increases in both income tax and general consumption tax (GCT) next year, to boost its tax revenues. Local Business Mon, 02 Mar 2015 20:17:22 GMT Bill Gates still world's richest man, Forbes says http://www.jamaicaobserver.com/business/Bill-Gates-still-world-s-richest-man--Forbes-says NEW YORK, United States (AFP) — Billionaire philanthropist Bill Gates kept his spot as the world's richest man, a rank he has held for 16 of the past 21 years, Forbes magazine said Monday. Local News Mon, 02 Mar 2015 19:44:07 GMT GraceKennedy sees revenue growth despite Ja dollar depreciation http://www.jamaicaobserver.com/business/GraceKennedy-sees-revenue-growth-despite-Ja-dollar-depreciation KINGSTON, Jamaica — The GraceKennedy Group says it has recorded revenues of J$77.97 billion for 2014, a J$10.71-billion or 15.9 per cent increase over the prior year. Local News Mon, 02 Mar 2015 18:50:45 GMT FOREX: J$115.60 to one US dollar http://www.jamaicaobserver.com/business/FOREX--J-115-60-to-one-US-dollar2015-03-02T15-06-06 KINGSTON, Jamaica – The US dollar on Monday, March 2, ended trading at J$115.60, up one cent according to the Bank of Jamaica’s daily foreign exchange trading summary. Local News Mon, 02 Mar 2015 18:04:22 GMT T&T Central Bank moves to ease foreign exchange shortage http://www.jamaicaobserver.com/business/T-T-Central-Bank-moves-to-ease-foreign-exchange-shortage PORT OF SPAIN, Trinidad (CMC) – The Central Bank of Trinidad and Tobago Monday announced that it sold US$250 million to the banking system, completely offsetting a US$154 million foreign exchange gap experienced in February. Local News Mon, 02 Mar 2015 17:44:11 GMT IMF discipline helps the economy — PSOJ http://www.jamaicaobserver.com/business/IMF-discipline-helps-the-economy---PSOJ_18485444 THE Private Sector Organisation of Jamaica (PSOJ) reckons that the discipline of the International Monetary Fund (IMF) has helped Jamaica to maintain a fairly stable economy despite a 0.3 per cent decline in the country's growth. Local Business Sun, 01 Mar 2015 00:00:00 GMT Streaming sites hit sour note with local musicians http://www.jamaicaobserver.com/business/Streaming-sites-hit-sour-note-with-local-musicians_18484643 STREAMING sites led by Youtube and Spotify pay little to big artistes, say experts. Local Business Sun, 01 Mar 2015 00:00:00 GMT NIS mix-up solved http://www.jamaicaobserver.com/business/NIS-mix-up-solved_18485137 Dear Claudienne Local Business Sun, 01 Mar 2015 00:00:00 GMT Change Management — Summary of Parts 1 and 2 http://www.jamaicaobserver.com/business/Change-Management---Summary-of-Parts-1-and-2_18484380 The world hates change, yet it is the only thing that has brought progress -- Charles Kettering Local Business Sun, 01 Mar 2015 00:00:00 GMT LIME complaints surge at OUR http://www.jamaicaobserver.com/business/LIME-complaints-surge-at-OUR-_18485091 LIME's decision to introduce a charge for printed bills has led to the highest number of customer complaints for 2014, according to the Office of Utilities Regulation (OUR) quarterly performance report. Local Business Sun, 01 Mar 2015 00:00:00 GMT Enough is enough! http://www.jamaicaobserver.com/business/Enough-is-enough-_18485492 IN a parting shot, Digicel's outgoing CEO Barry O'Brien is urging the Private Sector Organisation of Jamaica (PSOJ) to challenge any additional taxes that might be levied on the private sector during the upcoming budget presentation. Local Business Sun, 01 Mar 2015 00:00:00 GMT Chikungunya damaging to economy — Shaw http://www.jamaicaobserver.com/business/Chikungunya-damaging-to-economy---Shaw KINGSTON, Jamaica — Opposition spokesperson for finance and planning, Audley Shaw says that the poor handling of the chikungunya epidemic by Health Minister Dr Fenton Ferguson has contributed significantly to the country re-entering a recession. Local News Sun, 01 Mar 2015 12:57:47 GMT Government will deliver on number portability, says Paulwell http://www.jamaicaobserver.com/business/Government-will-deliver-on-number-portability--says-Paulwell_18485759 Minister of Science, Technology, Energy and Mining, Phillip Paulwell, has said that the Government will deliver on its promise that cellular phone users will have number portability by the end of May this year. General News Sun, 01 Mar 2015 03:00:00 GMT Flow launches Advanced Video Service http://www.jamaicaobserver.com/business/Flow-launches-Advanced-Video-Service_18485016 COLUMBUS Communications Jamaica launched its Advanced Video Service (AVS) which will enable customers to view cable on their own schedule, while doubling the number of High Definition channels. Local Business Sun, 01 Mar 2015 00:00:00 GMT NCB takes asset tax hit on first-quarter profits http://www.jamaicaobserver.com/business/NCB-takes-asset-tax-hit-on-first-quarter-profits_18484866 NATIONAL Commercial Bank of Jamaica (NCB) took a hit by lumping its asset tax as a one-time payment, resulting in its December 2014 first-quarter profits dipping 15 per cent year-on-year to $2.1 billion. Local Business Sun, 01 Mar 2015 00:00:00 GMT Digicel proposes to raise US$925m — Fitch http://www.jamaicaobserver.com/business/Digicel-proposes-to-raise-US-925m---Fitch-_18478869 Digicel, the Irish-owned telecom giant, expects to raise US$925 million (J$106.4 b) in senior notes in order to redeem a previous issue, stated US-based rating agency Fitch. Local Business Fri, 27 Feb 2015 03:00:00 GMT Shame on us! - Lee Chin http://www.jamaicaobserver.com/business/Shame-on-us----Lee-Chin-_18477768 BUSINESS guru Michael Lee Chin cries shame on the Jamaican society for its dysfunctionality in the agricultural sector. Local Business Fri, 27 Feb 2015 03:00:00 GMT CCC assets pledged in defaulted TCL loan http://www.jamaicaobserver.com/business/CCC-assets-pledged-in-defaulted-TCL-loan_18478061 CARIBBEAN Cement Company (CCC) made J$138 million net profit over 12 months ending December 2014 -- its highest in years -- but its future as a going concern remains uncertain, according to its auditors Ernst & Young. Local Business Fri, 27 Feb 2015 03:00:00 GMT Bank of Jamaica projects inflation to fall below 5% http://www.jamaicaobserver.com/business/Bank-of-Jamaica-projects-inflation-to-fall-below-5-_18478575 AT the Bank of Jamaica (BOJ) quarterly press briefing yesterday, Governor Brian Wynter, going beyond his written press release, boldly stated that "this fiscal year, inflation will be below five per cent". Local Business Fri, 27 Feb 2015 03:00:00 GMT Jamaica passes 7th IMF test — despite tax underperformance http://www.jamaicaobserver.com/business/Jamaica-passes-7th-IMF-test---despite-tax-underperformance_18477817 Jamaica has received approval from the International Monetary Fund (IMF) for its 7th review, despite missing the "indicative" target on tax revenue. Local Business Fri, 27 Feb 2015 03:00:00 GMT Giant airport for Cuba — Russia, Abu Dhabi in talks: report http://www.jamaicaobserver.com/business/Giant-airport-for-Cuba---Russia--Abu-Dhabi-in-talks--report_18477584 ABU DHABI, United Arab Emirates (AFP) — Russia is seeking backing from Abu Dhabi investors to build a giant airport in Cuba seen as an international gateway to Latin America, a report said Wednesday. Local Business Fri, 27 Feb 2015 03:00:00 GMT Keith Panton, former J'can head of Alcan, dies http://www.jamaicaobserver.com/business/Keith-Panton--former-J-can-head-of-Alcan--dies_18476317 KEITH Panton, former head of Alcan operations in Jamaica, died last week at the University of Florida's Shands Hospital in Gainsville. Local Business Fri, 27 Feb 2015 03:00:00 GMT Indiscipline and lawlessness promote social inequality http://www.jamaicaobserver.com/business/Indiscipline-and-lawlessness-promote-social-inequality_18477040 LAST week I spoke about the lack of proper parenting skills being Jamaica's fundamental problem -- and the root cause of almost every challenge we face. Local Business Fri, 27 Feb 2015 03:00:00 GMT Developing critical management talent - step one http://www.jamaicaobserver.com/business/Developing-critical-management-talent---step-one_18465753 READERS will recall that in previous articles we examined the reasons for creating a strategic business plan, as well as its contents and use as a strategic tool for communicating with investors. Today we will seek to flesh out a strategy for developing critical management talent that is also culturally informed. Local Business Thu, 26 Feb 2015 00:00:00 GMT