Your Guide To Caribbean Financial Markets
The International Monetary Fund has just completed its tenth review of Jamaica’s performance on its programme and has agreed to loosen the country’s primary surplus target. The primary surplus can be defined as what is left to service debt after … Continue reading
The IMF today announced that it completed Jamaica’s third review under the Extended Fund Facility Arrangement and Approves a US$71.4 Million Disbursement. The full release reads: The Executive Board of the International Monetary Fund (IMF) today (March 19, 2014) completed the … Continue reading
According to the Daily Mail ‘Elaborate funeral plans have been set in motion in South Africa following the death of the country’s revered first black president Nelson Mandela.’ ‘The memorial, expected to last ten days, will be an unparalleled event in … Continue reading
Jamaica Observer Cartoon Reflecting Current Views on Portia Simpson-Miller's Frequent Flights
Oil is 40% of Jamaica’s total imports and that is 150% of our exports. So for every $1 we earn from exports we put 50 cents on it to buy oil. -Ralston Hyman on Real Business Oct 8, 2013
The International Monetary Fund today confirmed that Jamaica has passed its first quarterly test and qualifies for an additional disbursement. The Executive Board of the International Monetary Fund (IMF) today completed the first review of Jamaica’s performance under an economic … Continue reading
They’re 617 acres combined and were transferred from the Commissioner of Lands on September 21, 1970 to the Urban Development Corporation. Can you guess what they are? Can you? THE GOAT ISLANDS! (Apparently there are two islands with the first being 465 acres, one rood and six perches while the 2nd island is 152 acres, two roods and 77 perches). A rood is A measure of land equal to 1/4 acre, or 40 square rods (0.10 hectare) and a perch is a linear measure equal to 5.50 yards or 16.5 feet (5.03 meters); a rod.
Sure you have heard that the government of Jamaica is having talks with the Chinese government to construct a trans-shipment port on the islands, as a part of the Jamaican government’s initiative to launch its Logistics Hub project.
But, the geography of the Goat Islands do not meet the criteria put forth by China Harbour Construction & Engineering Company for the successful construction of the port. As Daraine Luton, Senior Staff Reporter for the Gleaner reports;
“The available acreage at Goat Islands, which China Harbour Construction and Engineering Company wants for the construction of a trans-shipment port and industrial park, is less than the desired amount of the lands the Chinese are seeking for the project.”
The archipelago, located off the coast of Old Harbour, St Catherine, which is the property of the Urban Development Corporation, has 617 acres, which is far less than the 3,000 acres which Robert Pickersgill, the minister of land, environment and climate change, said is needed for the development.
If the Goat Islands are not a befitting home for the trans-shipment port, why are they still being considered as a possible site? If you know, please enlighten us in the comments section below.
The most popular topic in Jamaica for the last few days has been the government’s creation of a logistics hub and the sudden increased interest by a set of investors in a ‘protected’ area of the country, targeted for investment. However questions abound as to the intention of the investors and the benefit for the country. Continue Reading
While Minister of Industry, Investment and Commerce Anthony Hylton is urging the public to exercise patience in making a judgement on the proposed development of Goat Islands as a trans-shipment and logistics port, it doesn’t go unnoticed that at the heart of all this argument the key issue is clear, the economy yes, but also J-O-B-S! Continue Reading
Not to be left out of the mix, Barry Wade, PhD, chairman of Environmental Solutions Ltd, a Jamaican Environmental company gave his take on the construction of the logistics hub (which has really come to the fore even more with the recent revelation that the Chinese are interested in a very well positioned, but protected piece of environmental property).
He brings us through a 10 step crash course on how to build a logistics hub, asking very important questions along the way.
The Goat Islands have become a topic of many discussions within the past few weeks. The location rose to fame when news surfaced that it was being considered to be one of the locations for the development of transshipment ports in Jamaica, as apart of the government’s plan to create a logistics hub to facilitate the efficiency and promotion of international trade and provide new and innovative economic opportunities for the country. Continue Reading
Airline employment has dropped from last summer because of job cuts at American Airlines and regional carriers that use smaller planes.
The US Department of Transportation yesterday (Tuesday, Aug 27, 2013) said that airlines employed the equivalent of 381,441 workers in June, down 2.4 per cent from the same month last year. It’s the 10th straight month of decline compared with a year earlier.
With a reduction in the jobs numbers for 10 straight months, that is not a good sign.
The Planning Institute of Jamaica (PIOJ) is reporting that mining, quarrying and construction were the main sectors recording growth during the April to June 2013 quarter. Continue Reading
The Kingston and St. Andrew Corporation (KSAC) is making use of modern technology as it continues in its efforts to create a clean and safe city.
The app will enable ordinary citizens to report and post real-time images of environmental issues such as illegal buildings, uncollected garbage, and streetlight malfunctions so that they can be addressed by the relevant authorities. They will also be able to report potholes, littering and broken water mains to the Council for attention. Continue Reading
The Jamaican economy is expected to record growth ranging between 0.5 and 1.5 per cent over the July to September quarter.
Mr. Colin Bullock, Director General of the Planning Institute of Jamaica (PIOJ), addressing the institute’s quarterly media briefing on Tuesday, August 27 said the growth should be spurred by a number of factors, including the continued roll-out of several capital projects approved in the 2013/14 budget. Continue Reading
St. Kitts and Nevis’ agricultural industry stand to be boosted by the interest of Taiwan’s President Ma Ying-jeou.
The Agro-Tourism Demonstration Farm at Sir Gilles (which was a joint initiative between St. Kitts and Nevis as well as the Republic of China, [Taiwan]) has been praised by Taiwanese President His Excellency Ma Ying-jeou. He regards the venture as a manifestation of the symbiotic relationship between the two countries. Continue Reading
Leadership challenges, rumours and unresolved issues, continue to abound in the Jamaica Labour Party, Jamaica’s foremost opposition party behind the People’s National Party. After loosing the last national elections, they have done serious and continuous review and continue to evaluate … Continue reading
The Urban Development Corporation (UDC) is relying on the private sector to give life to the planned makeover of the Kingston waterfront as commercial and recreational space.
However, it is moving ahead with similar plans for a boardwalk in Ocho Rios with funding from two state agencies, the Tourism Enhancement Fund (TEF) and Port Authority of Jamaica (PAJ). Continue Reading
Trinidad showing Uganda the engery game plan
Trinidad & Tobago and Uganda are building deeper ties on the basis of energy management as Uganda looks toward building their oil and gas industry.
Irene Muloni, T&T’s Minister of Energy and Mineral Development, filled with pride regarding the progress and success that Trinidad’s industry has had throughout the years, reached out to Uganda and offered to give them a few tips on how to get it right. Continue Reading
Trade and Industry minister for the twin islands of Trinidad & Tobago, Minister Vasant Bharath, recently reported that the significant presence of crime in the country’s society has not deterred foreigners from investing in the nation’s development.
“I believe there are many countries in the world with high crime rates and that doesn’t preclude them from getting and attracting business. I’m not saying it doesn’t matter because clearly it does and is brought up by foreign direct investors, but we have many other pluses. We haven’t encountered any investors who say they aren’t coming because of crime, so it’s not the militating factor. But the issue is how we can deal with it,’’
The country’s capital, Port of Spain, is currently being evaluated by Chinese engineers to determine the feasibility of an upgrade that will facilitate greater trading opportunities.
Crime and violence is no doubt a menace to any country’s development and growth. How long do you think it will take for crime to start scaring foreigners away from investing in a diversified economy such as Trinidad & Tobago?
Trinidad and Tobago Minister of Trade and Industry, Vasant Bharath, has expressed that he is not convinced that potential foreign direct investors are fleeing from the islands because of the high crime rate.
He supported his stance explaining that many countries around the world also have high crime rates but this has not affected those territories from benefiting from investments.
Nevertheless, he acknowledged that the issue of crime is not something to be ‘swept under the carpet’ as it is indeed a problem. However, he distinctly swept away claims that crime could prevent the foreign direct investments. And rightfully so.
Fact is, Trinidad has some unique natural resources that automatically attract potential investors. Either they choose to not invest, or put protective measures in place where needed. Or is it that simple?
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