The International Monetary Fund, IMF, is downgrading its forecast for the world economy this year, citing the spread of COVID-19’s omicron variant, higher energy prices, an uptick in inflation and a deteriorating outlook for the world’s two biggest economies – the United States and China. The 190-country lending agency now
JMMB Bank has struck a US$20-million loan agreement with Development Finance Institute Canada, or FinDev, the first in a series of funding initiatives the bank will embark on this year to grow loans to entrepreneurs operating small and medium-sized businesses. The rate at which JMMB Bank will on-lend the funds
KINGSTON, Jamaica— More young Jamaicans are being trained and certified as youth famers through the Jamaica 4-H Clubs, in partnership with HEART/NSTA Trust. Executive Director, Jamaica 4-H Clubs, Dr Ronald Blake, said the programme was developed to meet the growing demand for certification by youth farmers. “The Jamaica 4-H Clubs
Alliance Financial Services Limited, AFSL, has failed in its bid to have the suspension of its cambio and remittance licences lifted while it fights the action taken by the central bank in court. The Bank of Jamaica, BOJ, suspended the licences in early December, following criminal charges and allegations of
GraceKennedy Limited is working through details of the announced employee stock ownership plan, ESOP, but intends to share full information about the centenary gift with its more than 2,000-member workforce within the next few weeks, before advising regulators and stakeholders. The food and financial conglomerate’s announced share offer is one
Dr Adrian Stokes has resigned as senior vice president and head of insurance and wealth for Scotia Group. Scotiabank says he will be leaving to pursue other opportunities. Stokes joined the Scotia Group in 2010 and held several key positions during his tenure including vice-president of Business Analytics, and President of Scotia Jamaica
F irst, Amazon competed with malls. Now, it’s moving inside one. The online retailing giant said Thursday that it plans to open a clothing store in a Southern California mall later this year. It’s the latest foray into brick-and-mortar for Amazon, which already sells more than 10 per cent of
Economic experts at the International Monetary Fund (IMF) and the World Bank Group are urging governments in emerging markets and developing economies to start considering innovative solutions to combat the fallout from the novel coronavirus pandemic. Managing director of the IMF, Kristalina Georgieva, said global economies are starting to
As investors seek to create wealth in 2022, one financial adviser is urging them to explore other financial options, such as mutual funds, for creating generational wealth. “Mutual funds are deemed as some of the most ideal investments tools for wealth creation, with features such as dividend reinvestment, asset
Data from the Statistical Institute of Jamaica (STATIN) show that the number of women securing employment is gradually increasing. According to STATIN’s October 2021 Labour Force Survey, of the 76,600 additional persons gaining jobs to expand the employed labour force by 6.6 per cent to 1,234,800 last year, women accounted
