BOJ ponders penalties ... For breach of RTGS rules

The Bank of Jamaica (BOJ) said it might penalise deposit-taking institutions which continue to clear cheques valued at more than J$2 million in the Automatic Clearing House (ACH) system instead of through the Real Time...

Maureen Hayden-Cater re-elected JBA president

President of First Global Bank, Maureen Hayden-Cater, has started her first full term as president of the Jamaica Bankers Association (JBA).

World Bank underwrites public-sector budget reform

In a bid to address the challenge of what it describes as uncoordinated spending by different ministries, agencies and public entities in Jamaica, the World Bank has rolled out a new public investment and training progamme...

FGB aiming to double corporate banking share

First Global Bank (FGB), a subsidiary of the GraceKennedy Group, is moving to double its market share each year for the next two years within the promising corporate banking segment, Chief Executive Officer Maureen...

Parish plans activated to facilitate local investment

A long visualised plan to complete sustainable development plans for each parish is now being activated, with the Sugar Transformation Unit moving to help underwrite the process in seven parishes identified as...

Cacao DeJamaique uses local cocoa in chocolate bar

Former Jamaica Cocoa Farmers Association (JCFA) operations manager, Lorenzo Buckley, and a business partner domiciled in the United States have put together financial resources to start Cacao DeJamaique, a fledgling local...

Peter Phillips' GCT turn wins business praise

On June 10, 2014, the Government tabled a bill titled the General Consumption Tax (Amendments) Act 2014 which, among other measures, would stipulate that GCT refund claims will move from the current 30 days...

Movements

Stewart now head's SME sales at LIMEAnne Marie Stewart is now head of small and medium enterprises (SME) sales at LIME.

Parliament approves levy on conch exports

A levy of US$0.75 has been imposed on each pound of conch exported during the 2014 conch season.The House of Representatives on Wednesday approved the Conch (Export Levy) (Rate of Levy) Order Resolution 2014...

Sterling Investments for JSE listing

Sterling Investments Limited (SIL) has engaged GK Capital Management and PWL Transition Limited (formerly First Global Financial Services Limited) as lead brokers for their upcoming listing on the main market ...

Retrial ordered in multimillion-dollar lawsuit

The Court of Appeal has ordered a retrial in a claim brought by St Andrew-based X-Ray and Diagnostic Ultrasound Consultants for damages against air-conditioning sales and service provider, CAC 2000 Limited...

Dry spell affecting hotel industry

The Jamaican hotel industry is being affected by the worsening dry spell with at least one resort in the eastern section of the island facing closure due to the water shortage.According to Michael Gayle, chairman of the Port Antonio chapter...

Jamaican phone scam targeting Pittsburgh area

Residents of suburbs in Pittsburgh, United States, have been warned to beware of a telephone scam believed to be based in Jamaica.The warning came from the district attorney for Allegheny County ...

Barbadian dollar in danger - Moody's

Promoted International credit-rating agency, Moody's, has warned that with Barbados' foreign reserves standing below the 2013 level, strain could be put on the dollar."Any further erosion in reserves would likely put further pressure on Barbados'...

Get paid for posts? Social networking's new twist

Facebook and most other social networks are built on the premise that just about everything should be shared - except the money those posts produce.At least two services are trying to change that.

SEC votes to end $1 a share for some money funds

Regulators have voted by a narrow margin to end a long-time staple of the investment industry - the fixed $1 share price for money-market mutual funds - at least for some money funds used by big investors.The idea is to minimise the risk of a mass...

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