IMF points finger at banks for lack of growth

By |2016-05-31T14:32:04+00:00May 31st, 2016|news|

Sunday, May 29, 2016 Finance Minister Audley Shaw (left) with IMF Mission Chief for Jamaica Uma Ramakrishnan at the Ministry of Finance last week.Photo: JIS The International Monetary Fund (IMF) is placing some blame on the island’s banking sector for poor levels of growth within the island. At the same time, however, it is also [...]

Brace for more hurricane activity

By |2016-05-31T14:24:16+00:00May 31st, 2016|news|

ROSEAU, Dominica (CMC) – A two-day Caribbean Regional Climate Outlook Forum (CariCOF) began here on Monday with the region being told to brace itself for wetter than usual season and chances of more hurricane activity this year than in past five years. Climatologist with the Dominica Meteorologist Service, (DMS) Annie Carrette-Jospeh, who presented the Wet/Hurricane [...]

Bank of Jamaica Reduces Benchmark Interest Rate

By |2016-05-31T04:00:46+00:00May 31st, 2016|Press Releases|

Bank of Jamaica announces that with effect from 31 May 2016, the rate offered on its benchmark 30-day Certificate of Deposit will be reduced to 5.00 per cent from 5.25 per cent. The rates applicable to the Bank’s lending facilities that are linked to this policy rate will correspondingly fall by a similar 0.25 percentage [...]

Quarterly Press Briefing Brian Wynter Governor Bank of Jamaica 26 May 2016

By |2018-08-17T06:55:20+00:00May 31st, 2016|Press Releases|

Today the Bank releases the Quarterly Monetary Policy Report for the January to March 2016 quarter. Inflation at March 2016 has fallen to a historic low of 3.0 per cent. This is lower than the 3.7 per cent recorded at December 2015 and the 4.0 per cent at March 2015. It was also well below [...]

‘Reading is Cool’ – Sagicor, LASCO partner to féte kids

By |2018-08-17T06:55:20+00:00May 30th, 2016|news|

Published:Monday | May 30, 2016 | 12:00 AM This smiling group of children is ready for their first Hope Zoo experience last Friday at the ‘Reading is cool’ event hosted by Sagicor Foundation and Lasco iCool. Sagicor Foundation and LASCO iCool recently partnered to féte more than 300 students from across the island to a [...]

Pan-Jam projecting $6.5b spend on Oceana redevelopment

By |2016-05-30T16:40:35+00:00May 30th, 2016|news|

Published:Sunday | May 29, 2016 | 12:00 AMNeville Graham Pan-Jamaican Investment Trust and its Canadian partner is shelling out an initial $1.5 billion primarily to ready the first floor of their newly acquired Oceana property on the Kingston waterfront, space which has already been leased to the Accountant General's Department. It is estimated that the full [...]

NCB granted approval for mobile money

By |2016-05-30T16:33:38+00:00May 30th, 2016|news|

National Commercial Bank Jamaica (NCB) has obtained approval from the central bank to launch its suite of mobile money services. The bank has been securing partnerships over the last few months in preparation. It is expected to be the first to roll out products and services through the platform provided by technology partners Advanced Integrated [...]

BOJ says inflation falls to “historic low”

By |2016-05-30T16:26:25+00:00May 30th, 2016|news|

BY BALFORD HENRY Senior staff reporter balfordh@jamaicaobserver.com Bank of Jamaica Governor Bryan Wynter says that inflation fell to a historic low of three per cent during the first quarter of 2016 (January-March). “This is lower than the 3.7 per cent recorded at December 2015, and the four per cent at March 2015,” he told yesterday’s [...]

Everald Dewar | Garnishment and tax refunds

By |2018-08-17T06:55:20+00:00May 26th, 2016|news|

Published:Wednesday | May 25, 2016 | A person recently called to ask about Garnet Schee. To clarify, he said "Mr Schee will take the money from anyone who owes you to pay the tax you owe." He meant 'garnishee'. I explained to the hapless caller that it was not the name of a person, but [...]

Sagicor tapped to buy Palmyra

By |2016-05-26T10:22:17+00:00May 26th, 2016|news|

Insurance conglomerate Sagicor Group Jamaica has been selected as the preferred buyer of the incomplete Palmyra condominium complex in Montego Bay, according to two independent sources. It's not the first time the receiver for the property and his agents have tapped a buyer for Palmyra a property at the centre of a legal dispute between [...]

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