Jamaica Business News

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Updated: 4 hours 19 min ago

CaPRI gives thumbs up to Tax Administration

September 28, 2016 - 12:00am
Tax Administration Jamaica (TAJ) is being praised by the Caribbean Policy Research Institute (CaPRI) for its drive to improve collections through voluntary compliance, but the think tank is also prodding the agency to spend more time educating...

Bahamas PM reports progress on Baha Mar project

September 28, 2016 - 12:00am
The Bahamas government is reporting "considerable progress" one month after it announced an agreement had been reached on the remobilisation, completion, sale and opening of the Baha Mar mega resort.Prime Minister Perry Christie says The Bahamas and...

Iran dims hopes for deal on oil freeze this week

September 28, 2016 - 12:00am
AP:Iran played down hopes Tuesday that a deal to limit oil production will emerge this week in a meeting in Algeria, prompting big falls in oil prices.Speaking in Algiers at a meeting of oil-producing countries, Iranian Petroleum Minister Bijan Namdar...

Merkel gives no sign of help for Deutsche Bank

September 28, 2016 - 12:00am
Deutsche Bank shares are down further after German Chancellor Angela Merkel gave no indication that her government might help the group with a United States demand for a US$14 billion legal settlement.Merkel told reporters in Berlin on Tuesday that...

Aristide assumes visible role in Haiti presidential campaigning

September 28, 2016 - 12:00am
Former President Jean-Bertrand Aristide has leapt from behind the scenes to take a major role in campaigning for next month's presidential election, leading many to believe the polarising figure in the tumultuous world of Haitian politics is poised...

Create financial inclusion council without delay - IMF

September 28, 2016 - 12:00am
The International Monetary Fund (IMF) is urging the Jamaican Government to establish a financial inclusion council as part of the efforts to achieve higher economic growth by, among other things, improving financial access.Noting that progress...

Brazil arrests Lula's ex-finance minister in graft probe

September 27, 2016 - 12:00am
Brazilian authorities arrested a former finance minister yesterday for his alleged role in a massive kickback scheme, the latest high-level politician to be snared in a corruption probe roiling Latin America's largest nation.Antonio Palocci, who was...

Frances Wade | Why strategic thinkers leave leaders stranded

September 25, 2016 - 12:11am
In today's turbulent financial and economic environment, there's no doubt that companies need strategic thinkers at all levels. However, most do little to develop employees who have this skill, leaving it to chance. What should your firm do...

Usain Bolt to invest $10m in razor business

September 25, 2016 - 12:00am
Usain Bolt is spending over $10 million to set up a razor blade business called Champion Shave and is now actively seeking retailers to push the products into three markets.The Olympian and sport celebrity is tapping a current trend in men's...

More than $16b needed to fund second round of $1.5m tax threshold

September 25, 2016 - 12:00am
The Jamaican Government may need to impose revenue measures in excess of the$16 billion required to fund phase two of the personal income tax reform, which will see the threshold move to $1.5 million at the start of fiscal year 2017-18, according to...

Umbrella gaming regulator proposed

September 25, 2016 - 12:00am
A new gaming regulatory body, whose remit will include help for gambling addicts, is under consideration.Speaking at the 2016 Gaming Industry Summit in Kingston last Thursday, Minister of Finance Audley Shaw proposed a full review of the role and...

Financial Adviser | A tutorial on early retirement for state workers

September 25, 2016 - 12:00am
 Q: I have been employed to the Ministry of Education for 17 years and I am 55 years old. I want to apply for early retirement. Could you please supply me with some answers to these questions?...

Insurance Helpline | Negotiating your own compensation for pothole damage

September 25, 2016 - 12:00am
QUESTION: My vehicle suffered serious damage three months ago. The incident occurred when it fell into a huge hole filled with water at night. The road was poorly lit. There were no signs to warn pedestrians or motorists. I stopped buying...

David Jessop | Forward thinking required on foreign policy

September 25, 2016 - 12:00am
A few days ago, US President Barack Obama gave what in effect was a farewell address to the United Nations General Assembly. It was personal, heartfelt and frank. It spelt out the challenges that liberal democracies, including those in the Caribbean...

Marriott buys Starwood, becoming world's largest hotel chain

September 25, 2016 - 12:00am
Several of the best-known names in travel are now united in one hotel company.Marriott International closed Friday morning on its US$13 billion acquisition of Starwood Hotels...

UPS testing drones for use in its package delivery system

September 25, 2016 - 12:00am
One of the world's largest package delivery companies is stepping up efforts to integrate drones into its system.UPS has partnered with robot-maker CyPhy Works to test the use of drones to make commercial deliveries to remote or difficult-to-access...

Fed wants to put new limits on banks' commodities activities

September 25, 2016 - 12:00am
The United States Federal Reserve wants to put new limits on big banks' activities in physical commodities businesses, with an eye to reducing financial risks from volatile trading and transport of sensitive materials.The Fed's governors are...

IMF paints dark outlook for Greek jobseekers for next three decades

September 25, 2016 - 12:00am
The International Monetary Fund (IMF) on Friday painted a bleak outlook for bailout-dependent Greece, where it said it expects unemployment to stay in the double digits for more than three decades.In an annual report, the IMF also called for further...

Paint maker seeks market in Jamaica through franchise partnerships

September 23, 2016 - 12:00am
Trinidadian paint company Kaleidoscope Paints Limited is hoping to re-enter the Jamaican market and is actively recruiting franchisees to produce and...

Brexit impact on Jamaica likely to be modest, says IMF

September 23, 2016 - 12:00am
Depreciation of the British pound sterling following the vote to leave the European Union (EU) could reduce the inflows of tourists and remittances from the...