The Privy Council has ruled in favour of Advantage General Insurance Company Limited (AGIC) in its appeal against a Court of Appeal decision that it was not entitled to claim a loss of $692 million, which would be set off against future tax...
Finance and Public Minister Audley Shaw said the outcome of the recent general election, which was won by the Jamaica Labour Party (JLP), was not a signal by voters that the economic support programme with the International Monetary Fund (IMF)...
Jamaica Public Service Company (JPS) says the National Environment and Planning Agency (NEPA) has approved the construction of the 190-megawatt gas-fired power...
Jamaica produced a primary surplus of $69.4 billion for the 10 months to January 2016, short of the International Monetary Fund (IMF) target by $1.6 billion, but that is forecast to be corrected when data for February becomes available."We are a...
Courier service provider DHL has been certified top employer in Jamaica by the Netherlands-based Top Employers Institute.The company was also officially certified as the top employer in Latin America and the Caribbean."Our comprehensive independent...
The expected J$4.5 billion savings from the reduction in the primary surplus target are expected to be used to fund specific capital projects to boost growth rather than providing jobs willy-nilly, according to the agreement between the previous...
Private sector credit increased by an annual rate of 9.6 per cent in the fourth quarter of 2015, an acceleration of the pace estimated at end-September. Then the growth rate was 7.8 per cent.The Bank of Jamaica sees it as continued evidence of the...
Jamaica has five quarterly reviews of the 15 tests remaining under the economic support programme with the International Monetary Fund (IMF), which it must pass to successfully complete the four-year agreement inked in May 2013.The eleventh review...
The Court of Appeal has dismissed an application brought by Trinidad-registered software firm Symsure Limited to have a former employee who sued for wrongful dismissal put up $3 million as security for legal costs in case he lost the case.Symsure...
The Economic Programme Oversight Committee (EPOC) has reiterated that whichever party forms the Government following the February 25 general election should commit to continuing the reforms under Jamaica's four-year economic support programme with...
The Jamaica Public Service Company (JPS) says it is unable to definitively state how the use of both automotive diesel oil and liquefied natural gas (LNG) at the Bogue power plant in St James will impact the price of electricity to consumers.It said...
The Court of Appeal has halted a Bahamas bank's sale of premises owned by Crown Motors at Marescaux Road in Kingston, pending the outcome of an appeal by the bank against a decision in favour of two associated companies, Key Motors and Executive...
Jamaica Public Service Company (JPS) said it saw an improvement in the reliability of power supply in 2015 with an average 30.3 per cent decrease in the...
In light of the pending general election, the International Monetary Fund and the Jamaican Government have agreed to postpone the visit by the fund’s mission scheduled to conduct the 11th review of Jamaica’s performance under the...
The International Monetary Fund (IMF) has suggested that the Jamaican Government, over the medium term, phase out what it has described as the highly distortive transfer taxes and stamp duty in favour of a capital gains tax.The recommendation comes...
Jamaica Public Service Company (JPS) said it wrote off $100 million in debt owed by residential and commercial customers for electricity under its year-end amnesty programme.It offered customers the opportunity to start the new year at least...
Opposition spokesman on finance, Audley Shaw, has given an undertaking to reverse regulations that restrict businesses from raising foreign exchange financing on the local market, if appointed finance minister after the upcoming general election."I'...
*COVER STORY The case brought by a cigar maker, who argued that a tax on tobacco imported as raw material for the business amounted to a constitutional breach, was denied by the Supreme Court last month. The court ruled that the company — as...
The International Monetary Fund (IMF) has proposed that the Bank of Jamaica (BOJ) use the additional space created by a loosening of programme targets to inject liquidity to support the real economy.It has also called for a more decisive easing of...
The Private Sector Organisation of Jamaica (PSOJ) says it is in the country's best interest to further hedge against the upward movement in the price of oil, a strategy the Government first adopted in June last year.The hedge purchased by Jamaica...
One appeal over legal costs and a lawyer's conduct has been resolved in hotel management company VRL Operations' favour in a half-billion dollar lawsuit filed against the State's monopoly water distributor, but other appeals are pending before the...
The project to convert the Bogue power plant in Montego Bay to operate on liquefied natural gas (LNG) kicked off two weeks ago.Jamaica Public Service Company said on its website that it is investing US$22.74...
While Jamaica has spent US$20 million (about J$2.3 billion) to hedge against the risk of a sharp increase in oil prices, the World Bank has lowered its forecast for crude oil to US$37 a barrel from US$51 a barrel in its October 2015 predictions.The...
