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


CDB to provide some US$67 million to seven Caribbean countries as part of COVID-19 recovery effort

Friday, May, 22 2020    

The Caribbean Development Bank (CDB) is making available emergency loans to seven Caribbean countries in the first instance to tackle the fallout of the COVID-19 pandemic as well as any other shocks to their economy. Read More

Trinidad's Motor One Insurance appoints new CEO

Friday, May, 22 2020    

Motor One Insurance, a subsidiary of General Accident Insurance (Jamaica) and the Musson Group recently appointed Natasha Pettier as its chief executive officer (CEO). Read More

It's back to business, but not business as usual

Thursday, May, 21 2020    

NEW YORK, United States (AP) — This is what “normal” will look like for the foreseeable future. Read More

Sagicor Group not closing any branches in spite of big COVID-19 hit

BY DURRANT PATE Observer business writer | Wednesday, May, 20 2020    

Sagicor Group will not be closing any of its branches like some of its competitors, in spite of taking a $700-million hit in the March quarter due to the COVID-19 pandemic. Read More

Mayberry optimistic despite COVID-19 losses in Q1

BY BALFORD HENRY Senior observer reporter balfordh@jamaicaobserver.com | Wednesday, May, 20 2020    

The Mayberry Group has reported a loss of $1.3 billion for the first quarter of 2020, in spite of a 23.8 per cent increase in fees and commission income to $129.7 million. Read More

JPS boss heads to new post at East-West Power Barbados

BY KELLARAY MILES Business reporter milesk@jamaicaobserver.com | Wednesday, May, 20 2020    

Emanuel DaRosa will be vacating his post as president and chief executive officer (CEO) of the Jamaica Public Service (JPS) to take up the new role of vice-president (VP) for Korea East-West Power Barbados (EWPB). Read More

The RFI is for contingency funding —IMF

BY KELLARAY MILES Business reporter milesk@jamaicaobserver.com | Wednesday, May, 20 2020    

The International Monetary Fund (IMF) has said that the funds approved last week under its rapid financing instrument (RFI) serves mainly as a contingency funding mechanism which is to be used by the country in cushioning the economic fallouts of the COVID-19... Read More

Move to boost bar business

BY KELLARAY MILES Business reporter milesk@jamaicaobserver.com | Wednesday, May, 20 2020    

AS community bars and taverns across the country reopen, a coalition of beverage companies have joined forces to pump over $28 million in financial support towards reviving and providing a wide range of resources needed for the sector to recover. Read More

Licensed herb houses to sell medical marijuana via online platforms

Wednesday, May, 20 2020    

In consultation with the Ministry of Industry, Commerce, Agriculture and Fisheries, the Cannabis Licensing Authority (CLA) has established guidelines that will now enable the online sale of medical cannabis to qualified patients and the subsequent pickup of products at licensed retail... Read More

Jamaica's nimble informal economy may help beat COVID-19

BY Dennis Jones | Wednesday, May, 20 2020    

For a large part of its post-independence life, Jamaica has been an economic conundrum: The official data showed for years a country that was hardly growing. However, on the ground there were always signs that Jamaica was not an economic wasteland. Read More

Credit Unions of Jamaica responds to Jamaica Social Stock Exchange's COVID-19 appeal

Wednesday, May, 20 2020    

The Credit Unions of Jamaica has donated $500,000 to the Jamaica Social Stock Exchange (JSSE) to assist Mona Tech Engineering Services to repair much-needed ventilators for the Jamaica health sector during this COVID-19 crisis. Read More

Jamaica's progress towards accrual accounting

BY RAKAR WILLIAMS | Wednesday, May, 20 2020    

For some time now, there has been a major move from cash accounting to accrual accounting within the public sectors worldwide. The International Public Sector Accounting Standards Board (IPSASB) is currently championing this needed change. Read More

Digicel denies claims of bankruptcy

Wednesday, May, 20 2020    

Regional telecommunications giant Digicel is denying claims that it has filed for bankruptcy before the Bermuda courts. Read More

US$12.9-million Q1 revenue for TransJamaican Highway

BY ABBION ROBINSON Business reporter robinsona@jamaicaobserver.com | Wednesday, May, 20 2020    

TransJamaican Highway Ltd (TJH) on Wednesday last reported a revenue of US$12.9 million for the quarter ended March 31, 2020. This represents a US $200,000 increase, despite the impact of low traffic due to the measures implemented by the Government in the fight against the COVID-19... Read More

Take advantage of untapped markets — Jampro president Indian products masquerading as Jamaican

BY KELLARAY MILES Business reporter milesk@jamaicaobserver.com | Wednesday, May, 20 2020    

Diane Edwards, president of the Jamaica Promotions Corporation (Jampro), has called on players in the agricultural sector to ramp up production and take advantage of the markets available for exports. Read More


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