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  • Big collection boost needed tomorrow to cover 75% shortfall on business tax

    September 14, 2014 1:00 AM 51

    TAX Administration Jamaica (TAJ) would need to collect $900 million on Monday to meet the budgeted target for the small business tax. With the September 15 deadline tomorrow, only $300 million of the targeted $1.2 billion has so far been collected, said Meris Haughton, Director of Communications at TAJ. The shortfall, which amounts to 75 per cent of the budgeted

  • Three Jamaicans vying for tech start-up funds reach semi-finals of global contest

    September 14, 2014 1:00 AM 70

    Three Jamaicans who are competing for US$15,000 ($1.6 million) are semi-finalists in the Global Innovation through Science and Technology (GIST) Tech-I competition. Jermaine Henry, Dmitri Dawkins and Sheldon Duncombe hope to change Jamaica's economic landscape by creating efficiencies and reducing operation costs in various sectors. Dawkins is pitching

  • GraceKennedy acquires majority shares in St Lucia’s EC Global

    September 12, 2014 2:20 PM 103

    KINGSTON, Jamaica – The GraceKennedy Group is now the majority shareholder in St Lucian company, EC Global Insurance Company Limited (EC Global), with the acquisition of an additional 50 per cent share which brings its shareholdings to 80 per cent. Having acquired the first 30 percent shareholding in 2004, GraceKennedy Financial Group Limited (GKFG)

  • Ford recalling 74,000 hybrid SUVs over stalling problem

    September 12, 2014 8:59 AM 50

    DETROIT (AP) — Ford is recalling about 74,000 older-model gas-electric hybrid SUVs in the US and Canada to fix a stalling problem. The recall covers Ford Escapes from the 2005 through 2008 model years and Mercury Mariners from 2006 through 2008. The company says the coolant pump for the hybrid system could fail, causing electronics to overheat. That can shut down the engine

  • BOJ makes early payment on US$70m in CDs

    September 12, 2014 2:00 AM 43

    THE Bank of Jamaica (BOJ) paid off US$70 million in US-dollar certificates of deposit ahead of schedule in August. The early payment helped drag down the net international reserves by US$60 million ($6.8 billion). But the reserves of US$2.12 billion at the end of August was still well ahead of the US$1.2-billion target set under the International Monetary

  • Even IMF cheered Jamaica's 1992 save-the-dollar effort

    September 12, 2014 2:00 AM 36

    THE International Monetary Fund (IMF) left Jamaicans in no doubt that further devaluation of the local currency was on the cards, at the end of the three-day visit to the island by its managing director, Christine Lagarde, in June this year. But 22 years ago, when the 'Butch Stewart' Initiative (BSI) galvanised patriotic Jamaicans in an unprecedented

  • THE annual general meeting of Access Financial Services closed in prayer as armed guards oversaw the vote and appointment of six directors at the embattled micro-lending firm.

    September 12, 2014 2:00 AM 38

    The board includes Marcus James, Access's CEO; Brian Goldson, chairman of the micro-lending company; Christopher Berry; Neville James; Peter McConnell; and Gary Peart. It would be a new appointment for Neville James, the father of the Access CEO. The rest were previously on the board. At the same time, Alexander Johnson business development manager at Access

  • Businesses more optimistic about the year ahead, says central bank report

    September 12, 2014 2:00 AM 34

    BUSINESSES are more optimistic that conditions will improve over the next year. "In the recent survey, there was an improvement in both the perception of present and future business conditions among respondents relative to the previous survey," said the latest Bank of Jamaica (BOJ) Survey of Business Inflation Expectations. Perceptions of future business

  • Digicel to build islandwide cable TV network within 3 years

    September 12, 2014 2:00 AM 75

    DIGICEL plans to build out an islandwide digital cable and home broadband network within three years, says Barry O'Brien. The acquisition of Telstar and the islandwide expansion of its cable footprint is a strategic move to position the telecommunications firm to enter the subscriber TV market; push its broadband Internet business; and eventually offer

  • Conch exporter to open local seafood store

    September 12, 2014 2:00 AM 39

    CONCH exporter B&D Trawling will open a local seafood store in downtown Kingston next month. The company, which processes and packages the molusc, along with lobster and sea cucumbers, will enter the domestic retail market after 30 years of exclusively focusing on supplying overseas markets. B&D last year started making conch — a challenging shellfish