The Caribbean Development Bank (CDB) has approved an Exogenous Shock Response Policy-Based Loan of US$50 million to support The Bahamas following the damage caused by Hurricane Dorian. The Exogenous Shock Response Policy-Based Loan is an instrument to provide resources for financing needs that arise from external and natural hazards shocks
Data obtained from the National Road Safety Council has revealed that more than 3,000 Jamaicans have died in road crashes across the island over the last ten years. The data showed that the country has so far recorded 402 fatalities this year; the highest in a decade. The breakdown of
The increase in prices normally associated with the slide in value of the Jamaican dollar, is being moderated by the level of competition among goods and service providers locally, says Curtis Martin, managing director of JN Bank. Martin explained that increased flexibility in the Jamaican economy means that local substitutes
Sagicor Financial Corporation and Canadian company Alignvest Acquisition Corporation have completed their business combination transaction. It involved the transfer of all issued shares in Sagicor to Alignvest in exchange for shareholders in Sagicor receiving cash or Alignvest shares. The resulting entity is named Sagicor Financial Company. As a result of
Moody's Investors Service (Moody's), the internationally recognised bond credit rating arm of Moody's Corporation, has changed Jamaica's outlook from positive to stable while upgrading the long-term issuer and senior unsecured ratings of the Government of Jamaica from B3 to B2. The senior unsecured shelf rating was upgraded from (P)B3 to
Jamaica is projected to generate US3.7 billion in tourism earnings for 2019. The sector earned US$3.3 billion and had 4.3 million visitors last year. Tourism Minister Edmund Bartlett says for the last four quarters, the sector has led in terms of gross domestic product (GDP) contribution. He added that the
The Development Bank of Jamaica (DBJ) is to lend $5 billion to micro, small and medium-sized enterprises (MSMEs) over the next 12 months. Minister of Finance Dr. Nigel Clarke said the loans will be facilitated under the Government's revamped Credit Enhancement Facility (CEF). The CEF, which is financed by the
The Rent Restriction Act, which was passed over seventy-five years ago and last amended in the year 1985, is the primary legislation used by many to govern the relationship between landlords and their tenants. Given the age of the Act, many are of the view that it is in dire
The Jamaica Promotions Corporation (Jampro) is reporting that 16,540 new jobs were created in the 2018-2019 fiscal year within the fields of energy and information technology-enabled services (outsourcing), film, animation and music. Senator Don Wehby chairman of Jampro made the comments while announcing Jampro's achievements for the 2018-2019 fiscal year,
NEW YORK, United States — Chef Jose Andres (left) and Santa Clause pose for pictures on the floor at the closing bell of the Dow Industrial Average, at the New York Stock Exchange on December 5, 2019 in New York ( The dawn of low interest rates has made it
