Common perception: Supply is too high, and demand is too low. Reality: Mechanics related to the contracts that govern the purchase of oil exacerbated the impact of the price decline. While the common perception is true, the reality is more nuanced. Today we look at that nuance. On Monday, April
NEW YORK, United States — A man wearing a protective mask rides a bicycle on April 21, 2020 in the Queens borough of New York City. Daily death toll numbers related to the novel coronavirus disease (COVID-19) continue to trend downward in the tri-state region, but New York City has
Country lockdowns to prevent the spread of COVID-19 are significantly impacting the flow of international payments. Data from international money transfer service WorldRemit shows that restriction on movement is changing the way people send and receive money abroad. WorldRemit says in recent weeks it has observed a marked increase in
The Private Sector Organisation of Jamaica is reporting that it has so far raised more than $80 million through its COVID-19 Jamaica Response Fund. The Fund is a multi-sectoral, private, public and social services initiative in partnership with the Council of Voluntary Social Services, United Way of Jamaica, American Friends
A new report by the Economic Commission for Latin America and the Caribbean (ECLAC) has warned that the coronavirus pandemic will herald the worst economic contraction in the history of Latin America and the Caribbean, with a projected -5.3 per cent drop in activity this year. The report, published on
Did you know that when searching for news or information, 64 per cent of consumers trust search engine results (such as Google) the most, and guess what platform shows up in your top five search results—LinkedIn! So if you are signed up on the platform, but not actively using it—
The Statistical Institute of Jamaica (STATIN) in its latest report on the consumer price index (CPI) has said that the inflation rate recorded a movement of -0.3 per cent for the month of March. The rate in the previous month was 0.7 per cent. “The main contributor to this movement
Sagicor group has announced the recent appointment of Andre Ho Lung as the new chief financial officer (CFO) for the company. This follows the retirement of former CFO Ivan Carter, who demitted office on Friday last. “We are happy to welcome Andre to the Sagicor team and look forward to
Lager company Red Stripe has won a silver award for the quality of its beer from the International Quality Institute Monde Selection, adding to the brew's impressive collection of 11 gold awards and one other silver award. “It's a testament of our commitment to delivering first-class quality to our consumers.
KINGSTON, Jamaica — The Government says it has taken note of the unprecedented collapse in world oil markets today, which saw oil prices collapsing more than 99 per cent before going negative. In a statement, Minister of Finance and the Public Service, Dr Nigel Clarke said a small team from
