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 Rapid True Value pumps $35m into Portmore store renovation http://www.jamaicaobserver.com/business/Rapid-True-Value-pumps--35m-into-Portmore-store-renovation_17793482 RAPID True Value (RTV) is pumping some $35 million into the renovation of one its largest stores -- Portmore RTV -- to boost its revenue and customer base. Local Business Fri, 24 Oct 2014 02:00:00 GMT IMF warns Caribbean of PetroCaribe change amidst low oil prices http://www.jamaicaobserver.com/business/IMF-warns-Caribbean-of-PetroCaribe-change-amidst-low-oil-prices_17796660 Montego Bay, St James — JAMAICA and the Caribbean need to prepare stress tests that include the halt of the PetroCaribe oil arrangement with Venezuela, said the International Monetary Fund (IMF). Local Business Fri, 24 Oct 2014 02:00:00 GMT Copperwood Farms wins top honours at National Quality Awards http://www.jamaicaobserver.com/business/Copperwood-Farms-wins-top-honours-at-National-Quality-Awards_17795768 COPPERWOOD Farms in Hanover walked away with three awards at the recently concluded National Quality Awards organised by the Bureau of Standards Jamaica (BSJ). Local Business Fri, 24 Oct 2014 02:00:00 GMT Ministry targets more agro parks in western Jamaica http://www.jamaicaobserver.com/business/Ministry-targets-more-agro-parks-in-western-Jamaica_17796285 THE Ministry of Agriculture and Fisheries is looking to establish additional agro parks in western Jamaica. Local Business Fri, 24 Oct 2014 02:00:00 GMT TGI Friday's seeks profit after $16-m loss last year http://www.jamaicaobserver.com/business/TGI-Friday-s-seeks-profit-after--16-m-loss-last-year_17795597 THE local TGI Friday's restaurant aims to return to profit this year following its near $16 million (TT$1 million) loss recorded in 2013, management revealed. Local Business Fri, 24 Oct 2014 02:00:00 GMT LIME's 4G upgrade reaches Mandeville http://www.jamaicaobserver.com/business/LIME-s-4G-upgrade-reaches-Mandeville_17777588 LIME's 4G network expansion has reached Mandeville, the telecommunications provider said. Local Business Fri, 24 Oct 2014 02:00:00 GMT Planned KWL logistics facility already needs more space to meet demand http://www.jamaicaobserver.com/business/Planned-KWL-logistics-facility-already-needs-more-space-to-meet-demand_17794692 KINGSTON Wharves Limited's (KWL's) planned Total Logistics Facility already has far more applicants for space than the square footage that will become available when construction is completed at the end of 2015. Local Business Fri, 24 Oct 2014 02:00:00 GMT Brazil race hinges on appeal to lower middle class http://www.jamaicaobserver.com/business/Brazil-race-hinges-on-appeal-to-lower-middle-class_17792939 RIO DE JANEIRO, Brazil — THE debate boiled in Lena's Salon in Rio's Cantagalo slum, as patrons argued about who should win Sunday's presidential election. Financial Fri, 24 Oct 2014 02:00:00 GMT Tablets, cars drive AT&T wireless gains — not phones http://www.jamaicaobserver.com/business/Tablets--cars-drive-AT-T-wireless-gains---not-phones_17789999 NEW YORK, USA — AT&T said it gained two million wireless subscribers in the latest quarter, but most were from cheaper non-phone services such as tablets and Internet-connected cars. The nation's second-largest wireless carrier is facing pricing pressure from smaller rivals T-Mobile and Sprint in a competitive environment in which most Americans already have a cellphone. Financial Fri, 24 Oct 2014 02:00:00 GMT India picks up pace on economic overhaul http://www.jamaicaobserver.com/business/India-picks-up-pace-on-economic-overhaul_17791252 NEW DELHI, India — AFTER months of criticism for not moving aggressively enough on promises of an economic overhaul, India's new prime minister has announced a string of policies designed to kick-start Asia's third-largest economy. Financial Fri, 24 Oct 2014 02:00:00 GMT Brazilian companies raise Chiquita offer to US$681m http://www.jamaicaobserver.com/business/Brazilian-companies-raise-Chiquita-offer-to-US-681m_17794315 NEW YORK, USA — BRAZILIAN companies Cutrale and Safra said they are again raising their bid for banana producer Chiquita, to US$681 million -- a day before Chiquita shareholders are expected to vote on a combination with Irish fruit importer Fyffes. Financial Fri, 24 Oct 2014 02:00:00 GMT Nokia quadruples profit http://www.jamaicaobserver.com/business/Nokia-quadruples-profit_17793478 HELSINKI, FINLAND — FINNISH telecom equipment group Nokia yesterday said its third quarter profits more than quadrupled from a year ago, helped mostly by a one-off tax-related gain. Financial Fri, 24 Oct 2014 02:00:00 GMT Southwest Airlines profit rises 27% http://www.jamaicaobserver.com/business/Southwest-Airlines-profit-rises-27-_17793405 DALLAS, USA — MORE passengers and lower fuel prices are pushing Southwest Airlines to record profits, and the airline expects an even bigger break at the gas pump this winter. Financial Fri, 24 Oct 2014 02:00:00 GMT Trelawny Credit Union rolling out consolidation loans http://www.jamaicaobserver.com/business/Trelawny-Credit-Union-rolling-out-consolidation-loans_17786989 FALMOUTH, Trelawny — The Trelawny Credit Union (TCU) has revealed that plans are in the making to introduce a product dubbed Loan Maximizer, which seeks to consolidate the loans members may have with other financial institutions. Observer West Thu, 23 Oct 2014 02:00:00 GMT Salaries in Business Process sector are competitive http://www.jamaicaobserver.com/business/Salaries-in-Business-Process-sector-are-competitive_17787315 MONTEGO BAY, St James — Chairman of the Business Process Industry Association of Jamaica (BPIAJ) Yoni Epstein says the organisation will be mounting a public relations campaign aimed at dispelling the notion that workers in the sector are underpaid. Observer West Thu, 23 Oct 2014 02:00:00 GMT 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