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 GDP and investment horizon blues http://www.jamaicaobserver.com/business/GDP-and-investment-horizon-blues_50873 Theodore Local Business Sun, 07 Feb 2016 00:00:00 GMT JPS to roll out mobile application by September http://www.jamaicaobserver.com/business/JPS-to-roll-out-mobile-application-by-September_50948 In a bid to improve its service to consumers, Jamaica’s light and power company JPS will be rolling out a new mobile application by September. Local Business Sun, 07 Feb 2016 00:00:00 GMT Sharpening your human resources via training http://www.jamaicaobserver.com/business/Sharpening-your-human-resources-via-training_50908 “If you think education is expensive, try ignorance.” — Derek Bok Local Business Sun, 07 Feb 2016 00:00:00 GMT Land row crops up http://www.jamaicaobserver.com/business/Land-row-crops-up_50699 Dear Claudienne, Local Business Sun, 07 Feb 2016 00:00:00 GMT Whither the investment opportunities in 2016? http://www.jamaicaobserver.com/business/Whither-the-investment-opportunities-in-2016-_50895 SOME investors had a stellar year in 2015 and wished the year had been prolonged while others suffered a painful experience and could hardly wait for the year to conclude, hoping that the new year would bring a much-needed turnaround in their “financial fortunes”. Opportunities were present in the local equities markets and few asset classes on the international markets in 2015. But where will the rewarding opportunities come from in 2016, given the market volatility seen so far and expected for the rest of the year? Local Business Sun, 07 Feb 2016 00:00:00 GMT Collapsing coffins mar Cuba’s funerals http://www.jamaicaobserver.com/business/Collapsing-coffins-mar-Cuba-s-funerals_50797 HAVANA, Cuba (AFP) — As deacon at a Cuban cemetery, Miguel Pons has the difficult task of consoling the bereaved — and calming their anger when the coffins break. Local Business Sun, 07 Feb 2016 01:00:00 GMT Venture capital ecosystem gets US$3.5m boost http://www.jamaicaobserver.com/business/Venture-capital-ecosystem-gets-US-3-5m-boost-------_50823 The Development Bank of Jamaica has signed off on an agreement with the Inter-American Development Bank (IDB) – Multilateral Investment Fund (MIF) valuing roughly US$3.5 million, the second funding towards the development of the Technical Cooperation Agreement. Local Business Fri, 05 Feb 2016 00:00:00 GMT Reggae is Jamaica’s answer to Trinidad’s oil — Bogdanovich http://www.jamaicaobserver.com/business/Reggae-is-Jamaica-s-answer-to-Trinidad-s-oil---Bogdanovich_50761 DownSound Records (DSR), led by entrepreneur Josef Bogdanovich who partnered with Sting’s Isaiah Laing to stream the island’s largest annual concert live to 179 countries worldwide, indicated on Wednesday that it is planning to deliver its own international staging of artistes before year end. Local Business Fri, 05 Feb 2016 00:00:00 GMT The GOJ wants $15 billion to borrow http://www.jamaicaobserver.com/business/The-GOJ-wants--15-billion-to-borrow_50826 Theodore Mitchell, group sovereign economist with the JMMB Group Ltd, said today in an economic forecast, for 2016, that almost half of the $72 billion which is expected to flow into the local market from the repayment of principal and interest on NDX bonds already has takers. Local Business Fri, 05 Feb 2016 00:00:00 GMT Hardware and Lumber to keep name, management team http://www.jamaicaobserver.com/business/Hardware-and-Lumber-to-keep-name--management-team_50768 Marcus Richards, executive vice-chairman of Greystone Capital Partners Ltd and spokesperson for St Lucian company Argyle Industries Inc — the special purpose vehicle created to hold the shares of investors who purchased the holdings of GraceKennedy Limited in Hardware and Lumber — said Monday that delisting of the company is a possibility as Argyle is aiming at the 100 per cent acquisition of shares in the company. Local Business Fri, 05 Feb 2016 03:00:00 GMT Five sure-fire ways to fail at social media marketing http://www.jamaicaobserver.com/business/Five-sure-fire-ways-to-fail-at-social-media-marketing_50769 Social Local Business Fri, 05 Feb 2016 03:00:00 GMT One from ten leaves nought http://www.jamaicaobserver.com/business/One-from-ten-leaves-nought_50735 In 1961, when Jamaica voted by referendum to withdraw from the West Indies Federation, Dr Eric Williams, then Premier of Trinidad and Tobago, said “one from ten leaves nought”. Local Business Fri, 05 Feb 2016 03:00:00 GMT CAC 2000 eyes tourism sector http://www.jamaicaobserver.com/business/CAC-2000-eyes-tourism-sector_50777 As the tourism industry continues to see some growth both in visitor arrivals and infrastructure investments, CAC 2000 Chairman and CEO Stephen Marston is buoyant that his recently Junior Market-listed company can take advantage of opportunities derived from these hotel development projects. Local Business Fri, 05 Feb 2016 03:00:00 GMT GraceKennedy Money Services expands to Turks & Caicos  http://www.jamaicaobserver.com/business/GraceKennedy-Money-Services-expands-to-Turks---Caicos KINGSTON, Jamaica — GraceKennedy has announced that on February 2 its subsidiary GraceKennedy Money Services (GKMS) opened service centres in Turks and Caicos Islands as the authorised agent of Western Union. Local Business Fri, 05 Feb 2016 11:25:39 GMT Completion of Panama Canal expansion pushed back to June http://www.jamaicaobserver.com/business/Completion-of-Panama-Canal-expansion-pushed-back-to-June_50795 PANAMA CITY, Panama (AFP) — A multi-billion-dollar expansion of Panama’s canal to triple its capacity will likely miss yet another completion deadline and now won’t be finished until June, according to the waterway’s administrator. Local Business Fri, 05 Feb 2016 03:00:00 GMT GraceKennedy launches wines and spirits division http://www.jamaicaobserver.com/business/GraceKennedy-launches-wines-and-spirits-division_50765 GraceKennedy announced its intention to take bigger market share of the wine and spirits sector, with the launch of Harbour Wines & Spirits. Local Business Fri, 05 Feb 2016 03:00:00 GMT Digicel calls for a Digital Marshall Plan in Haiti http://www.jamaicaobserver.com/business/Digicel-calls-for-a-Digital-Marshall-Plan-in-Haiti_50780 A bold, progressive plan of action to empower and employ more Haitians through greater access to the Internet and e-services is being put forward by Digicel. Local Business Fri, 05 Feb 2016 03:00:00 GMT Venezuela black-market dollar breaks four-digit barrier http://www.jamaicaobserver.com/business/Venezuela-black-market-dollar-breaks-four-digit-barrier_50805 CARACAS, Venezuela (AFP) — Venezuela’s bolivar currency fell below 1,000 to the US dollar Wednesday, breaking the four-digit barrier for the first time amid a deepening economic crisis, according to a banned foreign exchange website. Local Business Fri, 05 Feb 2016 03:00:00 GMT Cuban beach resort prepares for tourism boom http://www.jamaicaobserver.com/business/Cuban-beach-resort-prepares-for-tourism-boom_50809 HAVANA, Cuba (Xinhua) — Cuba’s famous beach resort of Varadero is preparing itself for more tourists with three new hotels, a water park and an 18-hole golf course, among other projects. Local Business Fri, 05 Feb 2016 03:00:00 GMT Miami gearing up for ferries to Cuba: report http://www.jamaicaobserver.com/business/Miami-gearing-up-for-ferries-to-Cuba--report_50817 MIAMI, United States (AFP) — The port of Miami is gearing up to offer daily ferries to Cuba but the service could take a while to get underway because Cuba has yet to grant permits, a newspaper said Tuesday. Local Business Fri, 05 Feb 2016 03:00:00 GMT Jamaican Style Money Guide: Wise Monkey Know Which Tree Fi Climb http://www.jamaicaobserver.com/business/Jamaican-Style-Money-Guide--Wise-Monkey-Know-Which-Tree-Fi-Climb_50459 We have recently been looking at the importance of saving in designing a financial success plan. While it is critical to consistently put aside a portion of your income to create an emergency account and build an opportunity fund, the reality is that saving alone won’t make you rich. Local Lifestyle Thu, 04 Feb 2016 00:00:00 GMT Caribbean Cement, under Mexican leadership, goes for bigger slice of trade pie http://www.jamaicaobserver.com/business/Caribbean-Cement--under-Mexican-leadership--goes-for-bigger-slice-of-trade-pie_50497 CARIBBEAN Cement Company Limited (CCCL) says it will increase capacity by one-third with a US$30-million investment into the plant over the next 15 to 18 months. Local Business Wed, 03 Feb 2016 00:00:00 GMT Seprod pumps $440M into farmlands to launch lactose-free dairy milk in June http://www.jamaicaobserver.com/business/Seprod-pumps--440M-into-farmlands-to-launch-lactose-free-dairy-milk-in-June_50486 On the heels of the launch of the ‘Drink Real Milk’ campaign, Seprod Group of Companies is investing $440 million in its farmlands in an effort to double the milk yield per cow. Local Business Wed, 03 Feb 2016 00:00:00 GMT Oil hedge deal was worth it — PSOJ http://www.jamaicaobserver.com/business/Even-with-US-20m-loss--oil-hedge-option-was-good-business-sense-----PSOJ_50529 The Private Sector Organisation of Jamaica (PSOJ), in defending the Government’s decision to hedge oil prices covering periods up to December 2016, bemoaned commentary that the strategy was a poor decision costing the country US$20 million ($2.4 billion), adding that the statement is being made from hindsight. Local Business Wed, 03 Feb 2016 00:00:00 GMT Chinese soap manufacturer eyes Trini market http://www.jamaicaobserver.com/business/Chinese-soap-manufacturer-eyes-Trini-market_50424 CHINESE laundry detergent company, ADA Manufacturing Limited, is eyeing the export of its locally produced laundry detergents to the Trinidad and Tobago market over the next six months. Local Business Wed, 03 Feb 2016 00:00:00 GMT