Jamaica Business News

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'Restore Junior Market incentives to spur growth'

December 19, 2014 - 10:16pm
Head of the Jamaica Stock Exchange (JSE), Marlene Street Forrest, noting that participation in the Junior Market has declined, is pushing for a roll-back of the cutback in the 10-year tax incentives the Government offered to those companies, which since 2009 has resulted in $3.4 billion of capital raised for expansion.

Promoters against work permits for Carib artistes

December 19, 2014 - 10:16pm
Grenadian promoters are urging the Keith Mitchell administration to remove the need for work permits for Caribbean artistes contracted to perform there.

Businesses hopeful despite tepid Christmas sales

December 19, 2014 - 10:16pm
Retailers are holding out hopes that the traditional Christmas shopping will improve within the coming days as they lament slow sales over the past few weeks.

Masterbuilders wants NHT to cut house prices

December 19, 2014 - 10:16pm
President of the Incorporated Masterbuilders Association of Jamaica, Carvel Stewart, is suggesting that the National Housing Trust (NHT) price funds to private developers at a cheaper rate and deliver units below market prices in order to house more of the Trust's contributors.

Court tosses man's bus park claim

December 19, 2014 - 10:16pm
A former park manager who filed a claim in the Supreme Court seeking possession of a bus park and arcade in St Mary has instead been ordered to account for revenue and expenditure there, and repay net earnings with interest to the parish council.

$13.95b in circulation for Xmas

December 19, 2014 - 10:16pm
The Bank of Jamaica (BOJ) is moving to mop up liquidity in the face of an expected uptick in money supply. The latest word out of Bank of Jamaica is that it is offering three foreign currency instruments with no cap on the amount.

Economic growth and the primary surplus

December 19, 2014 - 10:16pm
The uniquely steep primary surplus that the International Monetary Fund (IMF) was able to get the Government of Jamaica (GOJ) to agree on is fast becoming the negative moniker for the entire Extended Fund Facility that Dr Peter Phillips signed on behalf of us Jamaicans in May 2013.

Fiscal vulnerabilities in Latin America

December 19, 2014 - 10:16pm
The past decade has been unprecedented for Latin America. Millions of households were pulled out of poverty. There has never been so much access to credit for the middle class and below.

Belize lifts visa requirements for South America, Asia

December 19, 2014 - 10:16pm
Belize's Ministry of Immigration and Nationality has lifted visa requirements for nationals of Columbia, Brazil, Japan and South Korea in an effort to facilitate faster entry into the country.

Putin: West trying to defang Russian bear

December 19, 2014 - 10:16pm
Vowing never to let the West defang his proud nation, President Vladimir Putin promised Thursday to fix Russia's economic woes within two years by diversifying and voiced confidence that the plummeting ruble will soon recover.

Finance minister says Barbados on growth path

December 18, 2014 - 9:58pm
The Barbados government says the local economy is on a growth path once more and that the fiscal deficit is now on a "downward trajectory".

Burger King reels from whopping raw-material hike

December 17, 2014 - 9:35pm
Faced with what it said is a whopping 88 per cent increase in the price of beef patties that go into its burgers, Richard Lake's Restaurant Associates Limited, the owner of Burger King and Popeye's chicken franchises in Jamaica, said it will revise the costs of its burger meals this week

First Heritage, St Thomas credit unions plan merger

December 17, 2014 - 9:35pm
General manager of the St Thomas Co-operative Credit Union, Hopeton Morrison has confirmed that they were in negotiations to merge with First Heritage Co-operative Credit Union (FHCCU).

New, safer Scotiabank credit card coming

December 17, 2014 - 9:35pm
New technology and better safeguards are behind Scotiabank's new credit card, which the bank began implementing over the past year.

IMF Tracker - Will upcoming elections pose a risk to the IMF programme?

December 17, 2014 - 9:35pm
Members of the Economic Programme Oversight Com-mittee (EPOC) will be closely watching the Government in the run up to the general election, constitutionally due in 2016, to ensure it does not deviate from commitments under the International Monetary Fund (IMF) programme.

Rural Jamaicans increase consumption - PIOJ

December 17, 2014 - 9:35pm
The Planning Institute of Jamaica's (PIOJ) 2012 Jamaica Survey of Living Conditions (JSLC), which is designed to monitor the social impact of the economic changes, shows that spending on shoes and clothing has plunged by nearly 30 per cent since the last survey in 2011, but shows that real changes in expenditure on food is down by less than five per cent.

Byles rubbishes Shaw's mouthpiece claim

December 17, 2014 - 9:35pm
Co-chairman of the Economic Programme Oversight Committee, Richard Byles, has dismissed Opposition Spokesman on Finance Audley Shaw's claim that he was a mouthpiece of Government, based on his pronouncements on the Internatio-nal Monetary Fund (IMF)...

Auto repairers say HEART Trust grads falling short

December 17, 2014 - 9:35pm
The local stock of automotive workers will have to be improved if local businesses are to tap the anticipated influx of business through the proposed launch of damaged car repairs as an export industry, auto traders say.

Why oil is down by half

December 17, 2014 - 9:35pm
The price of oil has fallen by nearly half in just six months, a surprising and steep plunge that has consumers cheering, producers howling and economists wringing their hands over whether this is a good or bad thing.

JPS reduces electricity charges again

December 17, 2014 - 9:35pm
Customers of Jamaica Public Service Company (JPS) will this month be paying the lowest charge per kilowatt-hour for electricity since the start of the year, a benefit of lower oil prices.