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  • Unemployment continues to decline

    May 23, 2018 8:01 AM 8

    Jamaica's unemployment rate continued its downward trend to record 3.1 percentage points, lower than the rate recorded in January 2017. Data provided by the Statistical Institute of Jamaica (STATIN) for the month of January 2018 showed that Jamaica's unemployment rate was 9.6 per cent, the lowest unemployment rate recorded since October 2007. The number

  • JAMFIN launches training institute, new services

    May 23, 2018 5:00 AM 13

    Blossom O'Meally-Nelson, chairman of Jamaica Association of Micro Financing, JAMFIN, says the association has launched new services for its membership, including legal services and a new training institute called the Caribbean Institute of Micro Financing. The institute will offer certificate courses for loan officers as well compliance courses, training

  • Sagicor Financial Corporation posts 44% increase in Q1 profit

    May 18, 2018 6:03 AM 7

    Sagicor Financial Corporation Ltd posted an overall group net income of US$38.9 million for the quarter ending March 31, 2018, a 44 per cent increase over the same period last year, the company reported this week. The solid Q1 performance was boosted by improved total revenue over 2017, the company said in a news release. “Shareholders saw increases

  • A Royal Romance...The Countdown Is Own

    May 16, 2018 7:35 AM 7

    Wednesday Social closes the curtain on Part 1 of its coverage of the screening of the Lifetime Movie Network's Harry and Meghan: A Royal Romance , hosted by the Jamaica Pegasus hotel and supported by The Style Observer , Page 2 , Select Brands and British Airways. The by-invitation-only exclusive which took place inside the hotel's Blend Bar and Lounge

  • Mexico banks hacked, losses unknown

    May 16, 2018 4:28 AM 8

    Mexico established a one-day waiting period on electronic money transfers of over US$2,500 in the wake of a hacking attack that may have taken as much as US$20 million from several Mexican banks. It was the latest in a string of embarrassments for the Mexican banking system, which has seen slowdowns in e-payment, debit card transactions and transfers

  • Caribbean Producers investing US$2.7m in warehouse expansion

    May 13, 2018 5:00 AM 18

    Food distribution company Caribbean Producers Jamaica Limited will spend US$2.7 million ($340m) to grow its warehouse capacity by 50 per cent. Caribbean Producers is adding 60,000 square feet at its Montego Bay complex, to about 180,000 square feet. The project, which is already under way, is expected to be completed "by the end of the first quarter

  • Tourism Minister and JMEA to address concerns

    May 11, 2018 1:17 PM 23

    A meeting is slated to take place between Tourism Minister, Edmund Bartlett and President of the Jamaica Manufacturers and Exporters Association, Metry Seaga, to address concerns raised about a comment made by the Cabinet member. Bartlett, in response to complaints that Spanish hoteliers are not engaging local manufacturers in business said he cannot

  • Economic growth slows in Guyana — IMF

    May 11, 2018 5:59 AM 5

    WASHINGTON, United States (CMC) — The International Monetary Fund (IMF) says economic growth slowed in 2017, but became more broad-based as real gross domestic product (GDP) grew by 2.1 per cent, down from 3.4 per cent in 2016 in Guyana on the account of weaker than expected mining output and weak performance in the sugar sector. “Nonetheless, non-mining

  • Market shrugs off Ford cutback in F-150 production

    May 11, 2018 5:00 AM 15

    There are no apparent signs that Wall Street is worried about a plant fire that is forcing Ford to cut back on production of its F-150 pickup, the top-selling vehicle in America. The company suspended F-150 and Super Duty production in Kansas City, Missouri; Dearborn, Michigan; and Louisville, Kentucky. A May 2 fire severely damaged the Meridian Magnesium

  • California now world's 5th-largest economy, surpassing UK

    May 9, 2018 5:36 AM 7

    SACRAMENTO, United States (AP) — California's economy has surpassed that of the United Kingdom to become the world's fifth largest, according to new federal data made public Friday. California's gross domestic (GDP) product rose by US$127 billion from 2016 to 2017, surpassing US$2.7 trillion, the data said. Meanwhile, the UK's economic output slightly