Jamaica Business News

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Updated: 8 hours 11 min ago

Chik-V seen as costing billions in lost productivity

October 16, 2014 - 12:01am
The Private Sector Organisation of Jamaica (PSOJ) is estimating that about 13 million man hours may have been lost to the chikungunya epidemic, potentially resulting in economic losses of more than $6 billion as workers stay off the job while recovering.

CD Alexander relocates auctions downtown

October 16, 2014 - 12:01am
CD Alexander has leased the old Ideal Warehouse in downtown Kingston from the Urban Development Corporation (UDC) to hold its auctions.

Stay the course, IMF again advises government

October 16, 2014 - 12:01am
WASHINGTON, DC: The International Monetary Fund (IMF) is adamant that Jamaica continue on the current economic reform trajectory despite sections of the population's impatience with observing tangible benefits becoming manifest in the form of jobs and other economic benefits.

Financial sector flying too close to the sun

October 16, 2014 - 12:01am
WASHINGTON, DC: Monetary policy needs to stay accommodative to achieve the economic growth desired, but a side effect is the danger of reckless risk taking, which is particularly acute in the non-bank sector, managing director of the International Monetary Fund (IMF), Christine Lagarde, said.

HAJ seeks NHT reconciliation

October 16, 2014 - 12:01am
The Housing Agency of Jamaica (HAJ), whose mandate is to providing low-income housing but has been doing so at a loss, is now seeking a write-off on loans from Government of about $700 million and hopes to re-engineer its relationship with long-time backer National Housing Trust (NHT).

JMA awards winners

October 16, 2014 - 12:01am
The Jamaica Manufacturers' Association Limited, in association with Digicel Business, hosted its 46th annual awards banquet, at The Jamaica Pegasus hotel in New Kingston on the night of October 9.

TEF writes off $104m from cruise-ship operators

October 16, 2014 - 12:01am
Responsible Officials: Minister: Wykeham McNeill, Chairman: Noel Sloley, Other Directors: Trevor Riley (deputy chairman), Evelyn Smith, John Lynch, Gregory Burrowes, Shauna Trowers, Maxine Henry-Wilson, Janice Allen, Gregory Lawrence and Harry Maragh.

German government slashes growth forecast

October 16, 2014 - 12:01am
Europe got more bad news about its dominant economy Tuesday when the German government slashed its growth estimates for this year to 1.2 per cent from 1.8 per cent.

Citigroup to exit 11 markets in restructuring

October 16, 2014 - 12:01am
Citigroup customers across Central America and parts of Eastern Europe will be looking for a new place to bank next year.

Emerging markets slowdown fuels concern for global outlook

October 16, 2014 - 12:01am
Growth in emerging markets is at its lowest ebb since the aftermath of the financial crisis due to a combination of China's fading dynamism, a sputtering performance in eastern Europe and Latin America's slowdown.

British Virgin Islands suffers amid push against money laundering

October 16, 2014 - 12:01am
THE BRITISH Virgin Islands has long attracted Chinese companies looking to incorporate offshore but the Caribbean haven is facing pressure in Hong Kong from a global push to tackle money laundering.

Why drop in oil prices has downside for US economy

October 16, 2014 - 12:01am
If you're a driver, a shipper or an airline, low oil prices sure feel nice. But there are downsides to the recent plunge in oil prices - for the oil industry and for the economy.

China approves Universal theme park in Beijing

October 16, 2014 - 12:01am
China has approved the development of a US$$3.3-billion Universal theme park in Beijing that would be the first major foreign-owned theme park in the Chinese capital.

China trade growth rebounds in September

October 14, 2014 - 11:42pm
China's trade grew more strongly than expected in September, easing fears of a deeper slowdown in the world's No. 2 economy.

Fiat Chrysler pops then drops in market debut

October 14, 2014 - 11:42pm
Shares of Fiat Chrysler Automobiles (FCA) jumped as the market opened Monday, but fell later in the morning after making their debut on the New York Stock Exchange (NYSE).

Shortage of decals at TAJ raises legal concerns

October 11, 2014 - 10:06pm
THE ISSUANCE of a receipt to motorists in lieu of a decal by Tax Administration Jamaica (TAJ), which is currently experiencing a shortage of the licence discs, has been described by a senior legal counsel in the Attorney General's Chambers as a breach of statutory duty.

Phillips urges G20 to make good on promise to region

October 11, 2014 - 10:06pm
FINANCE AND Planning Minister Dr Peter Phillips is urging the G20 to make good on its promise to assist countries in the Caribbean to mitigate the effects of the financial recession of 2008.

EU broadens corporate tax crackdown to Amazon

October 9, 2014 - 6:11pm
The European Union (EU) is broadening its crackdown on multi-nationals' tax-avoidance schemes, opening Tuesday an investi-gation into Amazon's practices...

New logistics STEW. One-stop trade shop to complement SEZ plans

October 8, 2014 - 5:52pm
Minister of Industry, Invest-ment and Commerce Anthony Hylton says the special economic zones (SEZ) to be rolled out, starting in 2016, will be the signal to large international investors that Jamaica is ready for big investments along the value chain.

Super Plus to pay $140m to Continental Baking

October 8, 2014 - 5:52pm
Super Plus Food Stores Limited will pay a reduced award of just under $140 million to Continental Baking Company for goods supplied to the supermarket chain, according to a Court of Appeal ruling.