Marathon announces $500 million IPO for March 2020

By |2019-11-30T07:38:23+00:00November 30th, 2019|news|

Marathon Insurance Brokers has announced plans to raise $500 million through an initial public offer (IPO), which is slated for March next year. The proceeds of the IPO would be used to expand the 25-year-old insurance brokerage firm while financing its $100-million innovative online platform, Mibinsure.com. If the IPO is successful, the company plans to [...]

Lee Chin says 5-in-4 needs public sector accountability

By |2019-11-27T22:38:43+00:00November 27th, 2019|news|

With quarterly growth of 0.3 per cent, chairman of the 41-month-old Economic Growth Council (EGC), Michael Lee Chin, says that the permanent status of permanent secretaries under the Jamaican Constitution, has to be removed to enable higher gross domesitic product (GDP) growth levels. Lee Chin, who was speaking at the latest press briefing held by [...]

BOJ commits to maintaining flexible FX rate

By |2019-11-27T22:34:26+00:00November 27th, 2019|news|

BOJ governor, Richard Byles speaking at a Quarterly Monetary Policy Report press conference held at the BOJ offices in downtown Kingston on November 21. (Michael Gordon) The Bank of Jamaica (BOJ) in its latest Quarterly Monetary Policy Report has said that they will continue to ensure that  order is maintained in the foreign exchange (FX) [...]

Key Insurance considering rights issue to shore up its finances

By |2019-11-27T22:30:26+00:00November 27th, 2019|news|

The financially plagued Key Insurance Company is considering a rights issue, as it seeks to recapitalise the company, which has been bleeding under heavy losses in recent time. Today the board of directors will be meeting, at which time the crucial decision will be made whether to pursue the rights issue or another means [...]

Experts praise new tourism pension scheme

By |2019-11-19T09:47:21+00:00November 19th, 2019|news|

The Tourism Workers Pension Scheme, which was approved earlier this year in Parliament, has continued to receive the thumbs up across the pension/retirement landscape. The latest commendations came from the members of the Pension Industry Association of Jamaica (PIAJ), who were guests of the Jamaica Observer's weekly Monday Exchange at Beechwood Avenue, Kingston, on Monday. [...]

Jamaica’s hotel room stock to double within 10 years — Bartlett

By |2019-11-19T09:41:18+00:00November 19th, 2019|news|

Tourism Minister, Edmund Bartlett (left), converses with St Lucia's Minister of Tourism, Information and Broadcasting, Dominic Fedee, during a Government Leaders panel discussion at the Caribbean Hotel Investment Conference and Operations (CHICOS) Summit at the Secrets Wild Orchard and St James Resorts in Montego Bay, St. James, on November 15. (Photo: JIS) ST JAMES, Jamaica [...]

Karisma Hotels to break ground on new resort in St. Ann

By |2019-11-19T09:33:06+00:00November 19th, 2019|news|

Karisma Hotels and Resort is set to break ground in the first quarter of next year, for their 4,800 room multi-resort development project in St. Ann. The project represents an almost US$1 billion investment. The popular luxury chain has 26 properties in Latin America, the Caribbean and Europe under several brands, including El Dorado, Azul, [...]

World Bank Approves $40 million Financing for Jamaica to Boost Agriculture Productivity and Rural Livelihoods

By |2019-11-19T09:28:29+00:00November 19th, 2019|news|

WASHINGTON, November 14, 2019—The World Bank Board of Executive Directors approved today a US$40 million loan for Jamaica to boost income opportunities and job creation in rural areas through the second phase of the Rural Economic Development Initiative (REDI II). The project will improve access to markets and resilience to climate change for around 200 [...]

Americans have more debt, need family help to buy homes: report

By |2019-11-15T14:18:12+00:00November 15th, 2019|news|

Washington (AFP) - Americans are waiting longer to buy their first homes, have more debt and more often need family help to make the purchase amid a supply crunch that is pushing up prices, according to a new data released Friday. But African Americans and Hispanics continue to make up a very small share of [...]

NCB a $1.6-TRILLION company

By |2019-11-15T14:13:56+00:00November 15th, 2019|news|

NCB Insurance Company (NCBIC) has launched a set of new pooled fund offerings, targeting local pension funds. They include NCBIC Pooled Pension Real Estate Fund, which invests in a variety of real estate ventures, commercial & residential; NCBIC Pooled Pension Leases & Mortgage Fund, which invests in finance leases and commercial mortgages and NCBIC Pooled [...]

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