NIR at comfortable level, says IMF representative to Jamaica

By |2018-08-17T06:55:06+00:00May 26th, 2017|news|

Both the central bank of Jamaica and the International Monetary Fund (IMF) appear to be holding fast to the policy position of continued build-up of the net international reserves against future shocks.Jamaica's NIR has moved from US$496 million in March 1996 to US$2.65 billion as at Friday May 18, 2017. Whether or not this [...]

JN Bank supersizes loans, causes rates to fall

By |2018-08-17T06:55:06+00:00May 26th, 2017|news|

JN Bank in Half Way Tree, Kingston (Photo: Observer file) The Bank of Jamaica (BOJ) indicates in its new quarterly monetary policy report (QMPR) that the island's newest commercial bank made loans which added appreciably to the stock of private loans for the March 2017 quarter, with private sector credit almost doubling expected growth [...]

Above average hurricane season predicted

By |2018-08-17T06:55:06+00:00May 26th, 2017|news|

MIAMI, United States (CMC) — Forecasters are predicting that the Atlantic hurricane season, which officially begins on June 1, will be above average with 11 to 17 big storms and up to nine hurricanes.The National Oceanic and Atmospheric Administration's (NOAA) Climate Prediction Center says the expected absence of El Nino, an ocean-warming trend that [...]

Credit card fraud: Will a chip fortify consumer security?

By |2018-08-17T06:55:06+00:00May 25th, 2017|news|

Using credit cards arguably has numerous benefits. The most attractive may simply be this; your cash remains sheltered from the surreptitious pickpocket. For this and other reasons, credit cards are fast becoming, and in many territories have become the primary means of commercial exchange. However, before one hastens to bask in the myth of [...]

NIR at comfortable level, says IMF representative to Jamaica

By |2018-08-17T06:55:06+00:00May 25th, 2017|news|

Both the central bank of Jamaica and the International Monetary Fund (IMF) appear to be holding fast to the policy position of continued build-up of the net international reserves against future shocks.Jamaica's NIR has moved from US$496 million in March 1996 to US$2.65 billion as at Friday May 18, 2017. Whether or not this build-up, [...]

McKenzie says heavy rainfall ‘overwhelmed’ infrastructure

By |2018-08-17T06:55:06+00:00May 18th, 2017|news|

Minister of Local Government and Community Development Desmond McKenzie says the damage caused by the heavy rainfall is a clear indication that the infrastructure network is inadequate to deal with such occurrences.He told JIS News that the unprecedented level of rainfall in some parishes was way beyond what was calculated for in the original [...]

PM says it’s too costly when people live in informal, haphazard settlements

By |2018-08-17T06:55:06+00:00May 18th, 2017|news|

Residents of Douglas Castle in St Ann have been forced to use rafts to traverse the flood-ravaged community. (Photo: Naphtali Junior) PRIME Minister Andrew Holness said yesterday that Government will revisit the budget to identify funds for infrastructural repairs following extensive rainfall on Tuesday which caused significant damage in several communities across the island.Holness, [...]

THE INSURANCE INDUSTRY PAYS TRIBUTE TO RICHARD BYLES

By |2018-08-17T06:55:06+00:00May 15th, 2017|news|

On Wednesday, May 10, the Insurance Industry CEOs turned out in their numbers at a function held at the Courtleigh Hotel to pay tribute to Richard Byles, who they credited with leading the way to the restoration of the prestige and financial viability of the Life Insurance sector in Jamaica after the financial meltdown [...]

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GK sells Trident stake to former partners

By |2018-08-17T06:55:06+00:00May 11th, 2017|news|

GraceKennedy has exited its decade-old investment in Trident, a general insurer based in Barbados, and is reporting a gain from the sale of its 30 per cent stake in a deal finalised on Monday. The conglomerate sold its share in Trident for $56 million or just over BBd$800,000 to existing shareholders Leo Leacock & [...]

Drivers urged to cut speed to 30km/h today

By |2018-08-17T06:55:07+00:00May 11th, 2017|news|

Executive Director of the National Road Safety Council, Mrs. Paula Fletcher, addresses JIS ‘Think Tank’ on May 9. (Photo: JIS) KINGSTON, Jamaica (JIS) — Drivers are being asked to reduce their speed on the roads to 30 kilometres per hour on Thursday and Friday, May 11 and 12.The two Slow Down Days are among [...]

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