AS various commercial banks revise their fee schedule, the Jamaica Observer has assembled the fees charged by each alongside their earnings from fees charged to clients. Commercial banks are generally defined by the Bank of Jamaica (BOJ) as deposit-taking institutions which can offer chequing/current account services while merchant banks cannot offer accounts that are repayable […]
PRESIDENT of the Jamaica Confederation of Trade Unions Helene Davis-Whyte has welcomed the announcement from Minister of Finance and the Public Service Nigel Clarke that the national budget for 2022/2023 will “give disproportionate focus to the implementation of the restructuring of public sector compensation”. Speaking last week Wednesday at the Jamaica Stock Exchange’s 17th Regional […]
Caribbean Development Bank, CDB, on Tuesday projected that its borrowing members, or BMCs, would grow at a rate of 9.1 per cent, accelerating the region’s economic recovery which began in 2021. The development bank provides financing for 19 Caribbean members, many of which are tourism-dependent economies. CDB, which operates from Barbados, said its favourable outlook […]
WASHINGTON, DC, USA (AP) — Stocks notched broad gains Monday, but still posted their worst monthly loss since the early days of the pandemic, as Wall Street closed a tumultuous January wracked by worries that imminent interest-rate hikes will make everything in markets more challenging. The S&P 500 came back from an early dip to […]
AS Jamaicans brace for new bank fees and charges, credit unions are positioning themselves as an alternative for those seeking reprieve. Robin Levy, group CEO of the Jamaica Co-operative Credit Union League, told the Jamaica Observer that he’s encouraging locals who are frustrated with their bankers to consider joining a credit union. While speaking at […]
WHILE Jamaicans continue to moan about the cost of food, a report published Friday on Bloomberg , a US-based business publication, is suggesting there will be no relief soon. The report titled ‘Food Bill Headache’, as part of Bloomberg’s efforts of “tracking COVID-19’s impact on trade”, said getting food on shelves will probably remain expensive […]
mid the row between customers and commercial banks on the increase in fees amid the slow economic recovery and inflationary environment, JMMB Group Limited has welcomed the dialogue on fees charged by deposit-taking institutions (DTI) to transact services with their clients. In a release on Monday, JMMB posited its stance on fairness and its guiding […]
BANKS are issuing assurances that they have introduced products which will allow customers to save on fees. Scotiabank has also delayed planned fee increases for six months, while Jamaica National Bank indicates that fees that were implemented from 2020 still function to guide customer behaviour under pandemic conditions and further monies collected have been used […]
Mexico’s remittances – the money migrants send home to their relatives – have soared in the past two years and are now expected to top US$50 billion for the first time once 2021’s figures are added up. That would surpass almost all other sources of Mexico’s foreign income. But as happy as the Mexican government […]
The unit trust and mutual fund markets are growing. News earlier this month is that Scotia Investments has launched two new funds and that JN Mutual Funds is also to launch two. Already, there are eight operators of unit trusts, which manage 63 funds; and one mutual fund company, JN Mutual Funds, which operates six […]
