Jamaica Business News

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Updated: 16 min 49 sec ago

PSOJ, NYS partnership targets 5,000 summer jobs

April 24, 2015 - 12:00am
The private sector has got on board with the Government's summer employment programme, which PSOJ President William Mahfood says ought to be seen by businesses as a way of creating the next generation of entrepreneurs."What they (employers) are...

First Angels to limit - non-disclosures to fundable projects

April 24, 2015 - 12:00am
Sandra Glasgow, administrator of the First Angels Jamaica (FAJ) network, indicated Wednesday that entrepreneurs who apply for funding won't have the immediate protection of non-disclosure agreements (NDAs).That will come later at the stage where...

Byles: Low private sector credit contributing to slow growth

April 24, 2015 - 12:00am
Richard Byles, co-chairman of the Economic Programme Oversight Committee (EPOC), has attributed the overall slow growth of the Jamaican economy during fiscal year 2014-15 to the relatively low credit to the private sector.Bank of Jamaica (BOJ) data...

'We failed Jamaica' - Shortcomings of the NHT, Ministry of Industry US$5b logistics hub

April 24, 2015 - 12:00am
On April 1, 2015, All Fool's Day, the banner headline in one of our two daily newspapers wailed: 'We Failed! Industry ministry admits shortcomings in implementing gov't policies'.The Daily Observer disclosed that this true but very sad admission was...

The Minsky Moment

April 24, 2015 - 12:00am
Hyman Minsky was a post-Keynesian economist at Washington University who focused on the credit cycle.Economic oscillations have been the purview of classicists for centuries. The roles of weather patterns, political instability and wars were the...

Judge: Lawyers can seek facts about Argentina bond offering

April 24, 2015 - 12:00am
Lawyers for US bondholders who are owed money by Argentina can seek information from banks and the republic about a new bond offering it has arranged, a judge said Wednesday.United States District Judge Thomas Griesa told lawyers for billionaire...

Puerto Rico bank warns of imminent gov't shutdown

April 24, 2015 - 12:00am
Puerto Rico's Government Development Bank warned Wednesday that it is very likely the United States territory's government could be forced to shut down in the next three months because of a lack of funds.The bank made the warning in a letter made...

Germany: 'Very limited expectations' of Greece deal

April 24, 2015 - 12:00am
Chances are low that a meeting of Eurozone finance ministers on Friday will produce a deal that might unblock urgently needed bailout funds for Greece, Germany said Wednesday."We are going to Riga with very limited expectations," said German finance...

Southwest tops forecasts

April 24, 2015 - 12:00am
Southwest is spending about a buck less on every gallon of fuel, and that's helping the airline post record profits quarter after quarter.The airline says April bookings have been strong, but it expects a key revenue figure to decline in the second...

Google wireless phone service challenges major carriers

April 24, 2015 - 12:00am
Google is trying to shake up the wireless phone industry with a low-priced service designed to pressure major carriers into making it more affordable for people to get online and use Google's services.The service, called 'Project Fi', debuted...

Bank of England policymakers unanimous on holding rates

April 23, 2015 - 12:00am
Bank of England minutes show that policymakers were unanimous in their decision to keep interest rates at a record low 0.5 per cent this month as inflation pressures remained muted. Minutes released Wednesday from the April 8-9 meeting of the bank...

Petrobras kickbacks cost US$2.1b in losses

April 23, 2015 - 12:00am
RIO DE JANEIRO (AP): Brazil's state-run oil company Petrobras said Wednesday that it lost US$2.1 billion in an eight-year kickback scheme that saw the firm's executives taking bribes for awarding inflated contracts to suppliers. The company...

EU charges Gazprom with market abuse

April 23, 2015 - 12:00am
The European Union (EU) on Wednesday charged Russian state energy giant Gazprom of abusing its dominant position in central and eastern EU nations in an antitrust case that will further test tense relations between Brussels and Moscow.EU Competition...

Finsac puts Ciboney up for sale

April 22, 2015 - 12:00am
Finsac Limited, which has a 72 per cent stake in inactive company Ciboney Group Limited, is making another try at exiting the investment through the sale of its shares or its landholding.Ciboney Group was formerly invested in hotel properties, which...

Pork shortage reaches eateries

April 22, 2015 - 12:00am
The current shortage of pork on the local market has begun to impact the businesses of restaurants and other eateries, some of whom say their servings of pork dishes have been sporadic since December.Roderick Black, manager for Scotchies Jerk Centre...

Low wages, trade deals luring auto plants to Mexico

April 22, 2015 - 12:00am
Mexico has become the most attractive place in North America to build new automobile factories, a shift that has siphoned jobs from the United States and Canada, yet helped keep car and truck prices in check for consumers. In the past two years,...

Hi-Pro adds new mix to feeds

April 22, 2015 - 12:00am
Hi-Pro Feeds, a division of the Jamaica Broilers Group, has introduced a new yeast-based mix to its feeds to provide a healthier, all-natural blend to farmers. The new blends are facilitated by an agreement for Hi-Pro to use Arm and Hammer Animal...

UPDATE: Blue Diamond plans $17b Grand Lido hotel expansion - To reopen as Royalton Negril in 2016

April 22, 2015 - 12:00am
Amid rising objections to the plan to supersize the Grand Lido resort hotel in Negril, the property's new owner, Blue Diamond Hotel Groups, said on Monday that it is working with both "local and federal authorities" to satisfy concerns raised by all...

Blue Diamond plans ... - $17b Grand Lido hotel expansion - To reopen as Royalton Negril in 2016

April 22, 2015 - 12:00am
Amid rising objections to the plan to supersize the Grand Lido resort hotel in Negril, the property's new owner, Blue Diamond Hotel Groups, said on Monday that it is working with both "local and federal authorities" to satisfy concerns raised by all...

Sources: Carib Cement boss to be replaced

April 22, 2015 - 12:00am
General manager of Caribbean Cement Company Limited Anthony Haynes is to demit office, Wednesday Business has learnt.It's understood that Haynes, a Trinidadian, is to be replaced by a Mexican executive.When contacted, Chairman of Caribbean Cement...