There is growing concerns within the financial sector over the large volumes of hard currency being shipped from Jamaica — upwards of $50 million monthly — which cannot adequately be justified. This legitimises the de-risking concerns being exhibited towards Jamaica by foreign banks, which are refusing to hold US cash
WASHINGTON, United States — United Kingdom Foreign Secretary Dominic Raab (left) and U.S. Secretary of State Mike Pompeo (right), shake hands during a joint press event at the State Department on August 7, 2019 in Washington, DC. (Photo: AFP) WASHINGTON, United States (AFP) — The top US and British diplomats
The Jamaican economy is becoming more sophiscated and no longer needs to be picking winning industries for stimulus packages to grow national production. That's the word from Internationl Monetary Fund (IMF) representative to Jamaica, Dr Constant Lonkeng Ngouana, who explained that this sophiscation is manifesting itself in a number of
Statistical Institute of Jamaica expects to update the inflation basket in a year’s time from the results of the last household expenditure survey, or HES, says senior statistician Hope Perkins. The survey, which provides information on the goods and services purchased by private households, was conducted from February 2017 to
Minister without Portfolio in the Ministry of Economic Growth and Job Creation, Senator Pearnel Charles Jr, moves the Pensions (Superannuation Funds and Retirement Schemes) (Investment) (Amendment) Regulations, 2019 in the Upper House on Friday KINGSTON, Jamaica — Regulatory amendments, aimed at strengthening the legislative framework to safeguard the assets of
Fund managers will soon have a wider pool of assets to pick from when investing pension savings, following the adoption of amendments to pension regulations by Parliament on July 23. The regulations still have to be approved by the Senate, but industry representatives are already cheering the initial passage in
The Andrew Holness administration has endorsed a recommendation that a total of $24.5 million in compensation be paid to hundreds of motorists whose vehicles were damaged during the 2015 bad gas saga. This development comes even as the final report of the Petroleum Trade Reform Committee (PTRC) revealed that there
Sagicor Group Jamaica has announced that it could make more acquisitions. Group CEO, Christopher Zacca, said as the company earns more, it intends to use profit to execute more deals and grow the business. Sagicor Group made significant gains during the six months ending June. The company raked in $6.4
President/chief executive officer of the Sagicor Group Christopher Zacca (right) with Ivan Carter, Sagicor's Group chief financial officer, at the news conference yesterday when the company delivered its half-yearly results. (Photo: Joseph Wellington) Sagicor Group is reporting a net profit of $7.13 billion for the first half of the year,
International Monetary Fund (IMF) Resident Representative, Dr Constant Lonkeng Ngouana, addresses a public forum at the Bethel Baptist Church in Half-Way-Tree on Monday (July 29). (Photo: JIS) KINGSTON, Jamaica — International Monetary Fund (IMF) Resident Representative, Dr Constant Lonkeng Ngouana, says Jamaica has made tremendous progress over the last six
