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 Success Breeds Success http://www.jamaicaobserver.com/business/Success-Breeds-Success_17783852 Last week we discussed the importance of throwing aside your reservations when it comes to creating independent sources of income. As the saying goes, "Fortune favours the bold;" so if you need to earn more to pay bills and achieve your goals, you have to become courageous in trying to make money. Local Business Thu, 23 Oct 2014 02:00:00 GMT Sagicor donates first fever scan machine for ebola detection at Jamaica's ports http://www.jamaicaobserver.com/business/Sagicor-donates-first-fever-scan-machine-for-ebola-detection-at-Jamaica-s-ports_17781448 SAGICOR Group Jamaica yesterday donated $4.3 million to purchase a fever scan machine for the Ministry of National Security to aid in the detection of the ebola virus. Local Business Wed, 22 Oct 2014 02:00:00 GMT Carib to commence new cement supply deal with Venezuela this month http://www.jamaicaobserver.com/business/Carib-to-commence-new-cement-supply-deal-with-Venezuela-this-month_17782736 THE island's sole cement manufacturer Caribbean Cement Company (Carib) plans to resume exports to Venezuela this month amid posting a positive outlook for its financial year. Local Business Wed, 22 Oct 2014 02:00:00 GMT S&P 500 has best day of 2014 http://www.jamaicaobserver.com/business/S-P-500-has-best-day-of-2014_17782108 NEW YORK, USA Financial Wed, 22 Oct 2014 02:00:00 GMT Samsung seeks boost from redesigned Note http://www.jamaicaobserver.com/business/Samsung-seeks-boost-from-redesigned-Note_17779758 SEOUL, South Korea (AP) - The latest version of Samsung's popular big-screen Galaxy Note has gone on sale at a crucial time for the South Korean company as it suffers a rapid decline in profit from its global smartphone business. Local Business Wed, 22 Oct 2014 02:00:00 GMT Amazon, Simon & Schuster sign book retail deal http://www.jamaicaobserver.com/business/Amazon--Simon---Schuster-sign-book-retail-deal_17779047 NEW YORK, United States (AFP) — Amazon has reached a deal with American book publisher Simon & Schuster, the companies said, though the e-commerce giant remains at loggerheads with France's Hachette over e-book pricing. Local Business Wed, 22 Oct 2014 02:00:00 GMT Microsoft's Nadella gets US$84 million pay package http://www.jamaicaobserver.com/business/Microsoft-s-Nadella-gets-US-84-million-pay-package_17779736 REDMOND, Wash. (AP) - Microsoft has given its new CEO Satya Nadella a pay package worth US$84.3 million, most of it in the form of long-term stock awards. Local Business Wed, 22 Oct 2014 02:00:00 GMT How to unlock growth in Jamaica http://www.jamaicaobserver.com/business/How-to-unlock-growth-in-Jamaica_17780516 LAST year, in a June 2013 speech reported in the press, PSOJ President Chris Zacca noted that he had some concerns about the thinking of the multilaterals, and indeed some of our Government officials, on the subject of incentives. Zacca noted that driving the thinking of some local and international advisors is the view that incentives create a huge drain on tax revenue and that businesses benefit the most from these exceptions to the normal tax rates. Local Business Wed, 22 Oct 2014 02:00:00 GMT Sprint cuts 452 jobs at its Kansas headquarters http://www.jamaicaobserver.com/business/Sprint-cuts-452-jobs-at-its-Kansas-headquarters_17779778 KANSAS, United States (AP) — Sprint Corporation has cut 452 jobs from its Overland Park headquarters as part of a previously announced cost-cutting effort, the nation's third-biggest cell-phone carrier disclosed in a filing with the Kansas Department of Commerce. Local Business Wed, 22 Oct 2014 02:00:00 GMT Middleman beware http://www.jamaicaobserver.com/business/Middleman-beware_17780503 CROSS-BORDER Indemnities sound very fancy and they are likely to be complicated. However, cross-border liability can arise here almost every day. In Jamaica, where we import so many foreign manufactured goods, the regular consumer is an end user to cross-border transactions on an extremely regular basis. Local Business Wed, 22 Oct 2014 02:00:00 GMT Facebook sues lawyers over 'scam' lawsuit for stake http://www.jamaicaobserver.com/business/Facebook-sues-lawyers-over--scam--lawsuit-for-stake-_17779381 NEW YORK, United States (AFP) - Facebook Monday sued lawyers who represented a man claiming he was entitled to a stake in the huge social network, saying they should have known he was a scam artist. Local Business Wed, 22 Oct 2014 02:00:00 GMT KLE eyes first overseas Tracks & Records for 2015 http://www.jamaicaobserver.com/business/KLE-eyes-first-overseas-Tracks---Records-for-2015_17782483 KINGSTON Live Entertainment (KLE) Group now expects to set up the first Tracks & Records (T&R) restaurant overseas by 2015. Local Business Wed, 22 Oct 2014 02:00:00 GMT Blow to Japan PM as minister resigns over money scandal http://www.jamaicaobserver.com/business/Blow-to-Japan-PM-as-minister-resigns-over-money-scandal-_17779711 TOKYO, Japan (AFP) - Japan's high-profile and telegenic industry minister on Monday resigned over claims she misused political funds, for the purpose of buying both votes and make-up, dealing a blow to Prime Minister Shinzo Abe's proclaimed gender reform drive. Local Business Wed, 22 Oct 2014 02:00:00 GMT India frees diesel prices, easing state grip on ecomomy http://www.jamaicaobserver.com/business/India-frees-diesel-prices--easing-state-grip-on-ecomomy_17779492 Prime Minister Narendra Modi's administration also sharply hiked natural gas prices to spur exploration in the fuel-import dependent nation. Huge energy imports contribute to India's trade deficit. Local Business Wed, 22 Oct 2014 02:00:00 GMT SAMSUNG GALAXY NOTE 4 lands in Jamaica http://www.jamaicaobserver.com/business/Welcome--Note-42014-10-21T05-59-13 Arange of new devices were launched by Samsung last week Thursday at the Samsung Experience Store in Half- Way-Tree. Headlining these devices was Samsung’s newest phablet, the Galaxy Note 4. Sporting a huge 5.7-inch screen with a crisp 2560 by 1440 display, the Note 4 has one of the best screens on the market. The phone is no slouch either, due to its 2.7 GHz Quad-Core processor as well as Android 4.4 Kit-Kat. Teenage Tue, 21 Oct 2014 07:53:24 GMT Contractors urged to forge partnerships to fight foreign competition http://www.jamaicaobserver.com/business/Contractors-urged-to-forge-partnerships-to-fight-foreign-competition_17771240 MINISTER of Transport, Works and Housing Dr Omar Davies says local contractors must be willing and prepared to collaborate with each other in order to capitalise on opportunities that will emerge in the construction sector and to compete effectively with foreign companies, as the country positions itself to become a logistics hub in the Caribbean and Latin American region. Local Business Mon, 20 Oct 2014 02:00:00 GMT Trinidad 'won't borrow money' even if oil prices fall http://www.jamaicaobserver.com/business/Trinidad--won-t-borrow-money--even-if-oil-prices-falls PORT OF SPAIN, Trinidad (Trinidad Express) - The Government will not resort to borrowing money if the budgeted price of oil falls below US$80, Finance Minister Larry Howai has said. Local Business Mon, 20 Oct 2014 09:41:14 GMT Information Security Management Systems seminar next month http://www.jamaicaobserver.com/business/Information-Security-Management-Systems-seminar-next-month_17771442 JAMAICA will host a four-day seminar on Information Security Management Systems (ISMS) next month at the Knutsford Court Hotel in Kingston. Local News Mon, 20 Oct 2014 02:00:00 GMT Jamaica could meet global demand for its ginger by 2019 http://www.jamaicaobserver.com/business/Jamaica-could-meet-global-demand-for-its-ginger-by-2019_17767173 LOCAL farmers could meet the global demand for Jamaican ginger by 2019, according to the Agriculture Ministry. Local Business Sun, 19 Oct 2014 01:00:00 GMT New loyalty rewards card hits the market http://www.jamaicaobserver.com/business/New-loyalty-rewards-card-hits-the-market_17744893 A new loyalty rewards programme, FlexKom, is now available to local businesses. Local Business Sun, 19 Oct 2014 02:00:00 GMT Third credit bureau approved http://www.jamaicaobserver.com/business/Third-credit-bureau-approved_17767670 A third credit bureau has been approved to operate in Jamaica. Local Business Sun, 19 Oct 2014 02:00:00 GMT Cogeneration at SEZs could cut energy cost by 30% http://www.jamaicaobserver.com/business/Cogeneration-at-SEZs-could-cut-energy-cost-by-30-_17760665 THE Special Economic Zone (SEZ) Policy Steering Committee is considering the use of a cogeneration system to reduce the electricity costs of SEZ operators by 30 per cent. Local Business Sun, 19 Oct 2014 01:00:00 GMT Translating economic terminology: Balance of payments http://www.jamaicaobserver.com/business/Translating-economic-terminology--Balance-of-payments_17766458 THE Balance of Payments (BOP) is a method countries use to measure the flow of money into and out of their economies over a specific period of time, usually quarterly and yearly. As with any company or individual this is important information to know and has implications for the financial health of the nation. Let's take a look at what makes up the balance of payments, why it is important, and how Jamaica measures up. Local Business Sun, 19 Oct 2014 02:00:00 GMT Replacement laptop didn't carry warranty http://www.jamaicaobserver.com/business/Replacement-laptop-didn-t-carry-warranty_17753628 Dear Claudienne, Local Business Sun, 19 Oct 2014 02:00:00 GMT Tourism stakeholders keen on timeshare vacation law http://www.jamaicaobserver.com/business/Tourism-stakeholders-keen-on-timeshare-vacation-law_17758962 MIAMI, Florida — KEY tourism stakeholders here are anxiously awaiting the passage of the Timeshare Vacations Bill tabled in the House of Representatives by Jamaica's Tourism Minister Dr Wykeham McNeill, arguing that the legislation will enhance the island's tourism product offering. Local Business Sun, 19 Oct 2014 02:00:00 GMT