NHT - The Key To Your Home
The only bother to the National Housing Trust after the Finance Minister announced that the government will be taking an eye-opening amount from the organization, is that the current business plan would have to be redone. One would expect some kicking and screaming, but that’s not the case here. Continue Reading →
Dyoll Group Ltd in February 2013 declared its final Dividend of 40 cents.
One of the Caribbean’s major income earners is slowly being stifled by the cursed hands of crime. Unfortunately the volatile economies of the region are experiencing its horrifying effects, and soon it will have to rest in peace (R.I.P). Before things begin the spiral out of control, the governments of the respective nations within the region have been alerted and will now concoct an ingenious medicine to remedy the situation. Continue Reading →
NCB Capital Markets has been given the regulatory nod to acquire Advantage General Insurance (AGI).
Jamaica Money Market Brokers
JMMB has definitely been hitting the right notes of late. Plus, with the integration of the Capital and Credit Financial Group (CCFG) complete, they are now reporting significant growth in profits. Continue Reading →
33% Increase in Q1 2013 Profits. Acquires Roberts
Julian Rodney, Salada’s general manager says Africa has a lot of potential, and surprisingly they have no presence there. Continue Reading →
Crime taking a toll on business | Photo by Cali.org
The Jamaica Observer reports that the “National Commercial Bank (NCB) will shut down its Red Hills Road branch in March [2013] after more than four decades in operation on the St Andrew strip.”
This means “the community is now left without a commercial bank, with Scotiabank having left there in the 1990s, and more importantly another major employer.” Continue Reading →
We have to lower the amount of imported raw material we use in our products. But cassava in beer? That may just be pushing it a little too far, dont? Well…
Red Stripe Jamaica and Jamaica Producers Group (JPG) are partnering on a project to explore the financial feasibility of local cassava as input for brewing beer.
The partnership seeks to leverage JPG’s agricultural expertise.
The company already farms cassava and other crops as raw material for its snack operation, but the feasibility study to be undertaken by the companies will determine whether cassava can be grown in the quantities and quality required for beer-making.
Red Stripe aims to replace 30 per cent of imported inputs with cheaper, locally grown cassava.
by IvanWalsh.com
According to Milton Haughton, Executive director of the Caribbean Regional Fisheries Mechanism (CRFM) “Aquaculture in the Caribbean region contributes to one to two per cent of the total fish production, whereas in Asia and some other countries it’s 50 per cent.”
Aquaculture refers largely to the business of fish farming and if what Haughton reports is true, it may be the best way to tackle the severe problem of declining fish populations affecting many Caribbean fishermen. Continue Reading →
2012 is the year of the Olympics in London and needless to say, it is the year of Usain Bolt. What you may not realize however is that what is good for Usain is usually pretty great for his sponsors!
Setting up shop for the expected Bolt craze to come this summer, Puma has released another line of Bolt-branded sneakers. They have been receiving great reviews for their ease of wear, how “fresh” they look and oh yea, how “light” they are. Makes sense, they are called the Bolt Lite. Continue Reading →
Are you ready for this? According to the Algemeiner “over $1 billion in revenue per year” is “generated from the Bob Marley name.” That is 1 thousand million United States dollars or as much as $85-90 billion Jamaican depending on the daily exchange rate.
If you’re not too impressed with the figure as yet, just consider that Jamaica’s national budget for 2012 is going to be just over $500 billion when it is finally settled. Continue Reading →
Somewhere to put all the cars of workers, customers, investors and everyone who goes to do their lawful business there. It is one of the main things businesses downtown have struggled with for years.
GraceKennedy Group chief executive officer, Don Wehby, recently reemphasized the need for the urban developers to take this issue seriously, especially as the government sets its hopes on unrestricted resurgence of business life downtown. Continue Reading →
More money was “sent home” to Jamaica through remittance services in 2011 than any other year thus far.
It is reported that, “Remittances rose to a new high of US$2.025 billion of inflows last year. The last time Jamaica hit that mark was in 2008 when inflows were recorded at US$2.021 billion.” In other words, things are looking good for the remittance companies. Continue Reading →
JMMB must be biting all its nails off in anticipation as it awaits approval for its bid to acquire the Capital and Credit Financial Group (CCFG) (who this story is really about).
CCFG has reported a net profit increase of 27 per cent, some J$364 million for the year ended December 2011 and it was no fluke. Continue Reading →
If making money as a Jamaican business was like making songs as a Dancehall artiste then without a doubt, GraceKennedy would be the “world boss”. GK may not like the comparison but seriously, we are desperate to find reasonable ways to describe their unrelenting, chart topping success. Everyday they make a hit.
GK made a record J$58 billion in revenue at the end of last year. At J$3 billion or J$8.33 per share, net profits were 25 per cent higher than the J$2.4 billion made in 2010. Go ahead Gk. Just say it to Lasco and the rest. “Why Pree?” Continue Reading →
Somebody deserves a hug at Virgin Atlantic! The company has announced that it will absorb the cost of the ridiculous Air Passenger Duty (APD) imposed by the British government, which Caribbean leaders was certain would damage their countries’ tourism sectors.
The APD has been a most troubling issue since its announcement and it is clear now that Caribbean governments were not the only ones concerned. Virgin’s CEO Steve Ridgway called the tax an “unfair retrospective” increase to passengers, as he communicated the company’s plan to absorb it.
“We have been placed in the invidious position of either being forced to go back and ask those passengers for more passenger interests or absorb the costs ourselves,” he wrote. “We pride ourselves on defending and championing passenger interests, so we have taken the costly decision to shield our affected passengers from a tax surcharge.”
In case you don’t know how big a deal this is, just consider the fact that “As of April 1, the APD means British travelers to the Caribbean will pay approximately $257 extra per ticket, up from $238.”
The Caribbean Tourism Organization (CTO) has called the tax discriminatory because they charge that many Caribbean countries, which are the same distance to London as many US states, are charged higher duties because they are in a different “band.”
According CTO statistics, the region saw a decline in British travelers for the third year in a row.
Yea mon. Japan clearly loves Jamaican culture. Is more investment coming?
Japanese investors already hold significant interests in Jamaica and it appears from what the Japanese Ambassador said at a recent investment forum in Kingston, there are even more investors who are eager to connect with the country.
His Excellency Hiroshi Yamaguchi, speaking at the Mayberry Investment’s Invest Forum, said the attitude of investors during a Japanese trade mission to the island last November convinced him of his position.
Continue Reading →
A woman frolics in Isabel II, Vieques, PR.
It runs counter to many modern, city-cultured and hyper-commercialized minds to take their money and invest in unknown, unexplored destinations. Hopefully the success of Vieques – a tiny islet I bet you have never heard of – will let you reconsider your definition of “good investment.”
Located just eight miles off the mainland of Puerto Rico and only accessible by way of ferry or plane, the undeniable allure of Vieques to those that visit is in its unspoilt beauty complemented by incredibly artistic buildings. Continue Reading →
Could this happen to our manufacturing sector? In a positve way?
GraceKennedy boss Don Wehby has stated in no uncertain terms that if the Government of Jamaica cuts energy costs to 20 cents per kWh, it will be like Disney World for manufacturers in Jamaica. For the people, it will mean, for certain – JOBS.
“I have read in the newspaper where our current minister of energy has basically said he believes he can get the cost down to 16 cents per kilowatt-hour (kWh) or 20 cents per kWh. If that happens, I can guarantee you that you are going to have a boom in the manufacturing sector in Jamaica,” Continue Reading →
The Jamaica Stock Exchange (JSE) and the Institute of Chartered Accountants of Jamaica (ICAJ) have teamed up to highlight and eradicate sub-standard reporting by companies listed on the JSE.
General manager of the JSC, Marlene Street-Forrest says the Memorandum of Understanding (MOU) with the ICAJ is “part of its plan to improve the standard of financial reporting by companies listed on the stock exchange”. Continue Reading →
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