Richard Pandohie reckons that the eight initiatives under the Economic Growth Council’s 5 in 4 plan are lacking focus on Jamaica’s agricultural sector. The chief executive officer of Seprod Ltd who recently announced plans to partner with the Government, private sector and farmers across the island in an effort to revitalise Jamaica’s dairy industry, says [...]
GraceKennedy General Insurance Company Limited (GKGI) will later this year roll out operations in Guyana and Trinidad and Tobago. After cementing insurance operations in Antigua, St Vincent, Dominica, St Lucia, and Turks & Caicos, GK’s Group CEO Don Wehby told the Jamaica Observer that the company is now hoping to expand its footprint into Belize [...]
KINGSTON, Jamaica (JIS) — Acting Director of the Caribbean Institute for Health Research at the University of the West Indies Professor Marvin Reid, is reiterating the need for persons to pay close attention to the relationship between nutrition and cancer. Speaking on behalf of the Jamaica Cancer Society (JCS), Professor Reid said nutrition plays a [...]
The Planning Institute of Jamaica (PIOJ) says there has been a decline in the country's poverty rate. Dr. Wayne Henry, Director General of the PIOJ, on Wednesday released data showing that in 2014, the poverty rate fell by 4.6 percentage points to 20 per cent. It was the first downward movement recorded for the national [...]
In the last three years, perhaps Jamaicans have come to associate the oversight of the International Monetary Fund (IMF) programme provided by Richard Byles, in his capacity of co-chairman of the Economic Programme Oversight Committee (EPOC), as a natural extension of his business acumen. In that role, he undoubtedly provided outstanding and courageous leadership that [...]
The Jamaican economy recorded growth of 1.3 per cent for the October–December quarter of 2016. This represents eight consecutive quarters of economic growth and reflected higher value added from both the Goods Producing and Services Industries. The Goods-Producing Industry grew by 3.0 per cent, while the Services Industry was up by 0.8 per cent. [...]
Jamaicans’ appetite to invest in US currency has driven the Bank of Jamaica (BOJ) to increase its holdings on the foreign currency deposits of financial institutions, thus creating a disincentive for the banks to take deposits in any other currency but the Jamaican dollar. The BOJ adjustment means that individuals seeking to hedge against [...]
IDB President Luis Alberto Moreno greets Minister of State in the Ministry of Finance and Planning Faval Williams as she arrives at the Bank’s Headquarters on Tuesday for bilateral talks. Looking on from left is Jamaica’s IDB representative Arthur Williams and IDB’s Executive Director for the Caribbean Jerry Butler. (Photo: Derrick Scott) WASHINGTON, DC, United [...]
Prime Minister Andrew Holness says imminent policy changes will be made to existing pension schemes. According to the Prime Minister, the changes will ensure greater efficiency of the pension funds. He says the Government wants to see pension funds structure their assets to align them with the Government's investment infrastructure thrust. The Prime Minister also [...]
Today, the Bank releases the Quarterly Monetary Policy Report (“QMPR”) for the October to December 2016 quarter. As we have discussed on many occasions, years, decades even, of feeding an insatiable appetite for borrowing by the government and its agencies diverted the flow of financial resources from the private sector and made investment harder and [...]
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