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 →
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).
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 →
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 →
Could Jamaica finally get a well oiled, bullet-fast tax system?
The Private Sector Working Group on Tax Reform has submitted their proposals to Parliament with one aim in mind – turn Jamaica’s rusted and rickety old tram car of a tax structure, in a bullet-fast and efficient system.
The proposals would turn Jamaica’s cumbersome tax regime into a streamlined, competitive system in an attempt to avert a looming economic crisis that could set social and economic development back several decades, said sources on the working group. Continue Reading →
When an established bank takes the time out to equip as many as 400 average citizens in the hair-raising and technical rigors of savings and investment, its fair to say they are doing good in the neighborhood.
Well, the Eastern Caribbean Central Bank (ECCB) recently graduated the latest crop of an investments and savings course it offers in a partnership with the ABI Bank. Continue Reading →
James..."touted to be the Next Usain Bolt" - Gotta see that to believe it.
Most people have probably never heard of Kirani James (a Grenadian sprinter), or even more that he has been “touted as the next Usain Bolt,” (I really dunno by who). He is however the reigning 400M World Champion and the new signatory of spanking hot 3 year contract with LAIME.
No details have been revealed about the nature of the deal. It is expected though that James will “support LIME’s business ventures in the Caribbean, make personal appearances and be featured in ad campaigns.” Continue Reading →
Well..not very accurate, but you get the drift. DRAMA!
The transcript for the trial of debased CEO, Allen Stanford with all the double cross, back-stabbing, “don’t blame me, blame him” speeches is reading more like the script for an episode of Spartacus than anything to do with finances.
In the most recent sitting of the court in the case of the U.S. v. Stanford a former manager claims that the day to day running of the Stanford Financial Group was handled by former CFO James M. Davis (now turned stool-pigeon for the prosecution). Continue Reading →
Turn up the SUN!!
Some Jamaicans may be smiling more soon. It appears that after doing some work in the region Solamon Energy Corporation is still passionate about facilitating and encouraging the use of solar power across a wide range of countries.
The foreign based group yesterday announced through its CEO Graeme Boyce that “the company has signed a strategic Joint Venture Agreement with Canada Green ESCO.” The executives of both companies “will now work together closely to ensure a turnkey financing solution for each country is achieved as expeditiously as possible.” Continue Reading →
A promise is a comfort to a fool...
Don’t be fooled by short, juicy media headlines like “JPS plans to lower electricity cost” – read the whole long story (and all the updates). If you do, you will see that the big, loving promise, may simply be fleeting comfort.
As more news trickles out concerning the bases of JPS’s plan, a lot more is being put in perspective.
The Jamaica Public Service Company (JPS), says light bills could be cut by 30 to 40 per cent, if the Government delivers on the much-touted LNG project. Continue Reading →
Haitians queue for food distributed by the United Nations Stabilization Mission in Haiti
The world responded when the most devastating earthquake in modern history killed over 220,000 Haitians, and injured a further 300,000. However, according to Haitian Prime Minister Garry Conille, the inefficient disbursement and distribution of aid has crippled the nation’s ability to recover as it should.
The Office of the UN Special Envoy to Haiti said only 53 per cent of the 4.5 billion US dollars pledged by donors has been disbursed. Continue Reading →
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