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 New Year's Resolution #4: Earn More http://www.jamaicaobserver.com/business/New-Year-s-Resolution--4--Earn-More-_18302496 Over the past weeks we have been examining some of the key money goals that you should have on your 2015 resolution list. If you really want to avoid the disappointing results of past years, then you must understand exactly what is required to put you on a positive financial path. Local Lifestyle Thu, 29 Jan 2015 01:00:00 GMT Rickards says political bias in selection of EU Sugar Programme projects http://www.jamaicaobserver.com/business/Rickards-says-political-bias-in-selection-of-EU-Sugar-Programme-projects_18309613 DUANVALE, Trelawny — Chairman of the All-Island Jamaica Cane Farmers' Association Allan Rickards (AIJCFA) says a number of the projects financed by European Union (EU) money under the Sugar Transformation Unit (STU) in the Ministry of Agriculture, are politically selected for the benefit of the cane farming communities. Observer West Thu, 29 Jan 2015 00:00:00 GMT Sea-island cotton cultivation set to treble http://www.jamaicaobserver.com/business/Sea-island-cotton-cultivation-set-to-treble_18302168 THE Jamaica Agricultural Development Foundation (JADF) hopes to have an additional 700 acres of sea-island cotton under cultivation by the end of 2016. Local Business Wed, 28 Jan 2015 00:00:00 GMT UK CEO tells government to fund social enterprises from dormant bank accounts http://www.jamaicaobserver.com/business/UK-CEO-tells-government-to-fund-social-enterprises-from-dormant-bank-accounts_18265972 Peter Holbrook, Chief Executive Officer of Social Enterprise UK, reckons that the Jamaican government could use the funds of dormant bank accounts as a capital base for the country's existing and potential social enterprises. Local Business Wed, 28 Jan 2015 03:00:00 GMT High-speed wireless can help ganja farmers protect legal crops - Sinclair http://www.jamaicaobserver.com/business/High-speed-wireless-can-help-ganja-farmers-protect-legal-crops---Sinclair--BY-STEVEN-JACKSON-_18302136 Garfield Sinclair, LIME Jamaica chief executive, indicates that ganja farmers can utilise Internet connectivity to remotely monitor their crops. Local Business Wed, 28 Jan 2015 00:05:00 GMT GraceKennedy forms new US-based distribution subsidiary http://www.jamaicaobserver.com/business/GraceKennedy-forms-new-US-based-distribution-subsidiary-_18302440 The GraceKennedy Group (GK) has formed a new subsidiary to distribute LaFe goods within three states in the USA. The action forms part of its build-out strategy within the US market. Local Business Wed, 28 Jan 2015 00:05:00 GMT Nigeria's Café Neo: hoping to become the African Starbucks http://www.jamaicaobserver.com/business/Nigeria-s-Caf--Neo--hoping-to-become-the-African-Starbucks-_18300672 LAGOS, Nigeria (AFP) — Men in suits order takeaway cappuccinos at the counter. A trendy young crowd occupies comfortable sofas, armed with laptops for a brain-storming session over café lattes, frappuccinos and soft jazz. Local Business Wed, 28 Jan 2015 00:05:00 GMT Economic literacy and self-discipline for financial freedom http://www.jamaicaobserver.com/business/Economic-literacy-and-self-discipline-for-financial-freedom_18301534 AS children, most of us were taught that in order to be successful and wealthy we need to go to school and get an education, and then get a good job and work hard. However, much has changed and in the real world, outside of academics, in order to achieve true financial freedom one must first possess financial literacy and be disciplined enough to use such knowledge to guide their decisions. Local Business Wed, 28 Jan 2015 00:05:00 GMT The Banking Services Act and the anticipated impact on the financial services sector (Part 2) http://www.jamaicaobserver.com/business/The-Banking-Services-Act-and-the-anticipated-impact-on-the-financial-services-sector--Part-2-_18301753 THE Banking Services Act specifically allows deposit-taking institutions (banks, merchant banks and building societies), with the prior approval of the Supervisory Committee, to appoint a person to act as agent to offer banking services such as deposits and withdrawals, bill and loan payments/ repayments, account balance enquiries and collection of KYC and due diligence information. The intention here seems to be to encourage efficiency through authorised agency relationships. Local Business Wed, 28 Jan 2015 00:05:00 GMT Sterling Investment to seek funding via rights issue http://www.jamaicaobserver.com/business/Sterling-Investment-to-seek-funding-via-rights-issue--_18302441 Sterling Investment Limited (SIL) plans to hold a rights issue by March in order to raise capital. Local Business Wed, 28 Jan 2015 00:05:00 GMT Gas prices up 61 cents, diesel up 73 cents http://www.jamaicaobserver.com/business/Gas-prices-up-61-cents--diesel-up-73-cents KINGSTON, Jamaica — Motorists should see an increase at the pumps in prices of gasoline and diesel effective Thursday, January 29 with an increase in ex-refinery costs from Petrojam. Local News Wed, 28 Jan 2015 17:38:35 GMT Forex: J$115.79 to one US dollar http://www.jamaicaobserver.com/business/Forex--J-115-79-to-one-US-dollar KINGSTON, Jamaica — The US dollar on Wednesday, January 28 ended trading at J$115.79, up two cents, according to the Bank of Jamaica’s daily foreign exchange trading summary. Local Business Wed, 28 Jan 2015 17:08:47 GMT Bailout critic is new Greek finance minister http://www.jamaicaobserver.com/business/Bailout-critic-is-new-Greek-finance-minister_18299980 ATHENS, Greece (AP) — A Greek economist and outspoken bailout critic has been named as finance minister in the country's new left-wing government. Local Business Wed, 28 Jan 2015 00:05:00 GMT London Heathrow loses top place to Dubai airport http://www.jamaicaobserver.com/business/London-Heathrow-loses-top-place-to-Dubai-airport_18299908 DUBAI, United Arab Emirates (AP) — The city with the world's tallest building can now boast that it's home to the world's busiest airport for international passengers too. Local Business Wed, 28 Jan 2015 00:05:00 GMT Ebola to have 'marginal impact' on African economy: UN http://www.jamaicaobserver.com/business/Ebola-to-have--marginal-impact--on-African-economy--UN-_18300212 ADDIS ABABA, Ethiopia (AFP) — Africa's economy is likely to suffer only a minor blow from the Ebola outbreak despite the "considerable" impact on Guinea, Liberia and Sierra Leone, a UN official said Monday. Local Business Wed, 28 Jan 2015 00:05:00 GMT Alternate Internet develops in Cuba despite Wi-Fi ban http://www.jamaicaobserver.com/business/Alternate-Internet-develops-in-Cuba-despite-Wi-Fi-ban_18300110 HAVANA (AP) — Cut off from the Internet, young Cubans have quietly linked thousands of computers into a hidden network that stretches miles across Havana, letting them chat with friends, play games and download hit movies in a mini-replica of the online world that most can't access. Local Business Wed, 28 Jan 2015 00:05:00 GMT Aer Lingus backs takeover by BA parent http://www.jamaicaobserver.com/business/Aer-Lingus-backs-takeover-by-BA-parent_18300158 DUBLIN (AP) — Aer Lingus said Tuesday it supports a takeover bid by British Airways parent IAG, putting the Irish national airline with its trademark shamrock tailfins on course for foreign acquisition nine years after its privatisation. Local Business Wed, 28 Jan 2015 00:05:00 GMT S&P downgrades Russian credit rating to junk — Gov’t announces new plan http://www.jamaicaobserver.com/business/S-P-downgrades-Russian-credit-rating-to-junk---Gov-t-announces-new-plan_18301987 MOSCOW (AP) — After top ratings agency Standard & Poor's cut Russia's credit grade to "junk" status, the government in Moscow on Tuesday announced a plan that will see the economy return to a budget surplus in 2017. Local Business Wed, 28 Jan 2015 00:05:00 GMT NYC economy lost $200M from fizzled storm, transit shutdown http://www.jamaicaobserver.com/business/NYC-economy-lost--200M-from-fizzled-storm--transit-shutdown-_18302576 NEW YORK (AP) - New York City lost about US $200 million in economic activity in the fizzled snow storm and decision to shut down the transit system, but it wasn't a crippling loss, according to a preliminary estimate from Moody's Analytics. Local Business Wed, 28 Jan 2015 00:05:00 GMT Facebook unveils 'lite' app for emerging markets http://www.jamaicaobserver.com/business/Facebook-unveils--lite--app-for-emerging-markets_18302667 WASHINGTON (AFP) — Facebook said Monday it is testing a lightweight version of its mobile app for mobile phones with poor-quality Internet connections in emerging markets. Local Business Wed, 28 Jan 2015 00:00:00 GMT Surge in US consumer confidence http://www.jamaicaobserver.com/business/Surge-in-US-consumer-confidence_18302714 WASHINGTON, USA — (AP) US consumers welcomed the new year with a surge in confidence. Local Business Wed, 28 Jan 2015 00:05:00 GMT Operational restructuring at Access Finanical Services http://www.jamaicaobserver.com/business/Operational-restructuring-at-Access-Finanical-Services-_18302316 Access Financial Services Ltd announced the first of its operational restructuring since Proven Investments Ltd acquired roughly half of its shareholdings in December. Local Business Wed, 28 Jan 2015 00:03:00 GMT Forex: J$115.77 to one US dollar http://www.jamaicaobserver.com/business/Forex--J-115-77-to-one-US-dollar KINGSTON, Jamaica — The US dollar on Tuesday, January 27 ended trading at J$115.77, up two cents, according to the Bank of Jamaica’s daily foreign exchange trading summary. Local News Tue, 27 Jan 2015 17:25:06 GMT Forex: J$115.75 to one US dollar http://www.jamaicaobserver.com/business/Forex--J-115-75-to-one-US-dollar KINGSTON, Jamaica — The US dollar on Monday, January 26 ended trading at J$115.75, up three cents, according to the Bank of Jamaica’s daily foreign exchange trading summary. Local Business Mon, 26 Jan 2015 19:30:52 GMT Shaw says Gov't tax incentive scheme in confusion http://www.jamaicaobserver.com/business/Shaw-says-Gov-t-tax-incentive-scheme-in-confusion_18278852 OPPOSITION spokesman on finance and planning Audley Shaw has raised concern about what he sees as "confusion" surrounding the promulgation of the Government's competitive incentive scheme. Local News Mon, 26 Jan 2015 00:00:00 GMT