Jamaica Business News: Economy, Financial Sector & More ? Jamaica Observer - Business - JamaicaObserver.com


Banking online could save businesses over 50 per cent in fees — Scotiabank

Sunday, May, 24 2020    

Scotiabank has said that local businesses could see a reduction of up to 60 per cent in annual banking fees and significant reductions in processing times for some transactions if they utilise online banking channels. Read More

The Jamaican dollar isn't running away

Dennis Jones | Sunday, May, 24 2020    

If you didn't know better, you'd think the exchange rate of the Jamaican dollar (J$) to the US dollar (US$) was part of the navel string of many Jamaicans. Every time it depreciates, there's a tug on the collective umbilical cord and a collective wince. Read More

Adding fuel to the fire

Toni-Ann Neita-Elliot | Sunday, May, 24 2020    

Is it over yet? I am sure you have found yourself asking that question (repeatedly) as we navigate “the new normal” and continue to practice social distancing in this COVID-19 world we have found ourselves living in. Read More

NIS pension overdue

with Claudienne Edwards | Sunday, May, 24 2020    

Dear Claudienne,I am a retired public health nurse who was employed by the Western Regional Health Authority (Ministry of Health, Hanover health services) for 16 years and 10 months of service. On 2/3/17 . I applied for my National Insurance Scheme (NIS) pension at... Read More

JMMB Group donates over $10 million to PSOJ COVID-19 response fund

Sunday, May, 24 2020    

The JMMB Joan Duncan Foundation and members of the JMMB Group team recently donated some $10.3 million, in response to the call led by the Private Sector Organization of Jamaica (PSOJ), to assist vulnerable citizens affected by the novel coronavirus pandemic (COVID-19). Read More

SOS changes game plan to survive COVID-19

Sunday, May, 24 2020    

As the global economy buckled under the pressure and strain caused by the COVID-19 pandemic, businesses had to re-evaluate and adjust their business models and strategies to survive in what is deemed as the new normal. One such company is Stationery and Office Supplies... Read More

In Brazil, COVID-19 hitting young people harder

Sunday, May, 24 2020    

RIO DE JANEIRO, Brazil (AFP) — More young people are dying of COVID-19 in Brazil than other countries – a trend driven partly by demographics, since the overall population is younger, but also by poverty and the need to work. Read More

Cuba seeks delay in debt repayment to 2022: diplomat

Sunday, May, 24 2020    

HAVANA, Cuba (AFP) — Cuba has asked the Paris Club of major creditors for a delay in repaying its debt until 2022, citing the impact of the coronavirus pandemic on its economy, diplomatic sources told AFP on Wednesday. Read More

DBJ assists micro and small enterprises with digital transformation

Saturday, May, 23 2020    

THE range of business services utilised by micro and small enterprises (MSEs), which is financed under the Development Bank of Jamaica's (DBJ) Voucher for Technical Assistance Programme (VTAP), is being widened to incorporate digital transformation. Read More

BOJ projects unemployment to climb as high as 12% due to COVID-19

BY DURRANT PATE Observer business reporter | Friday, May, 22 2020    

The Bank of Jamaica (BOJ) is projecting that the unemployment rate could climb as high as 12 per cent owing to COVID-19, which led to widespread layoffs in the Jamaican economy. Read More

BOJ admits that its current COVID-19 FX intervention is unsustainable

BY DURRANT PATE Observer business writer | Friday, May, 22 2020    

Bank of Jamaica (BOJ) Governor Richard Byles has given the clearest indication that the bank's current COVID-19 foreign exchange intervention, which has amounted to US$338 million over the past two months, will be tempered. Read More

AIS plans Q-Mall e-commerce platform for Jamaican businesses

BY BALFORD HENRY Senior staff reporter balfordh@jamaicaobserver.com | Friday, May, 22 2020    

It is almost eight months since leading technology solutions company Advanced Integrated Systems (AIS) publicly announced plans for the launch of an e-commerce platform for Jamaica, known as Q-Mall. Read More

Expansion and diversification plans for itelbpo during pandemic

Friday, May, 22 2020    

Local business process outsourcing company itelbpo continues to expand and diversify its geographic footprint, even in the face of a global economic recession. Read More


Friday, May, 22 2020    

Appleton Estate Jamaica Rum, a global leader in premium rums, has announced its global relaunch to celebrate the brand's pursuit of excellence, but most importantly its commitment to the highest international standards of rum production. Read More

Venezuela says Iranian tankers will get military escort

Friday, May, 22 2020    

CARACAS, Venezuela (AFP) — Venezuela on Wednesday said its navy and air force would escort Iranian tankers arriving with much needed fuel, after Tehran warned of “consequences” if the US stopped the ships from reaching their destination. Read More


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