Four years into the much touted 5-in-4 growth agenda, the Economic Growth Council (EGC) has said that the realisation of its projected target was not achieved and has been worsened by the severe impacts of the COVID-19 pandemic. Speaking with the Jamaica Observer earlier this week, executive director of the
Private Sector Organisation of Jamaica (PSOJ) Immediate Past President Howard Mitchell is encouraging business and financial institutions to conduct a sensitisation campaign on insolvency and the availability of earlier intervention for micro, small and medium-sized enterprises (MSMEs). “As a community of business people we suffer from a culture of shame
The PIOJ said it was not anticipating that the economic recovery from COVID-19 will be as long as the recovery period following the global economic recession in 2008-2009, given the relative strength of the Jamaican economy along with the stimulus packages implemented both locally and globally The Planning Institute of
Key Insurance has announced the appointment of a new head of finance. This is the third management change since GraceKennedy took over in March, and comes as the conglomerate reorganised the board of directors at Key. Key advised that Stuart Andrade has been appointed to the position of Chief Financial
THE COVID-19 pandemic has disrupted the world over the last several months but the situation, though slowly, is taking a turn for the better as economies worldwide reopen. What next is in store for investors? This year has seen the economies of countries worldwide squeezed as they try to balance
REMOTE working has become a reality for many accountancy and finance professionals. It has brought with it numerous challenges when compared to more traditional ways of working. One of the most significant of these challenges is how to manage staff effectively so that they can complete tasks and continue to
For the first time in its history, insurance company General Accident surpassed $10 billion in gross written premiums last year. This represents a 23 per cent increase over 2018, as the General Accident Group wrote more than $10.7 billion in gross premium in 2019, producing net income of $2.4 billion.
Regional insurance conglomerate Sagicor Financial Company, the ultimate parent for Sagicor Group Jamaica, has acquired nearly US$5 million worth of shares in Playa Hotels & Resorts. The Sagicor network now holds 16 per cent of Playa shares, mostly through Sagicor Group Jamaica and its managed funds. The 1.5 million Playa
The Pan American Health Organization (PAHO) is warning that some countries could be setting themselves up for a different health crisis as they divert attention from the fight against non-communicable diseases (NCDs) to battle COVID-19. “Services for the prevention and treatment of non-communicable diseases or NCDs have been critically affected
Following the announcement last week by the Statistical Institute of Jamaica that the local economy had declined by 2.3 per cent in the first quarter of 2020, compared to the corresponding period last year, two noted financiers shared their views as to the reasons for the decline. Analyst Dennis Chung
