The Jamaican Economy Panel (JEP) is making a public call for the Government to consider implementing a tax on sugary food and drinks following its eighth round of discussions focused on the high rate of obesity in Jamaica. JEP is part of a partnership between the United Nations Resident Coordinator's
Local businesses which were looking to save more due to a reduced asset tax will have to wait a little longer. Tax Administration Jamaica (TAJ) on January 27, 2022 said it had been advised by the Ministry of Finance and the Public Service (MOFPS) that the proposal to reduce the
IN 2021, Jamaicans visiting the island used online platforms to remit money for their own use. The method delivered more cash for use in-island, on some platforms, than if they were to visit local banks or cambios to get Jamaican currency in exchange for their US dollars and other foreign
THE Jamaican dollar continued to depreciate, sinking to an all-time low last week in spite of intervention by the Bank of Jamaica (BOJ). The central bank last Friday pumped US$40 million into the local foreign exchange market. The dollar closed the trading week last Friday at $156.78 to US$1. That
CONSUMERS are facing an imminent increase in the cost for electrical inspection of their premises. Minister of Science, Energy and Technology Daryl Vaz sounded the warning as he gave an update to the House of Representatives on the newly created government electrical regulator (GER), which became operational effective November 1,
AS various commercial banks revise their fee schedule, the Jamaica Observer has assembled the fees charged by each alongside their earnings from fees charged to clients. Commercial banks are generally defined by the Bank of Jamaica (BOJ) as deposit-taking institutions which can offer chequing/current account services while merchant banks cannot
PRESIDENT of the Jamaica Confederation of Trade Unions Helene Davis-Whyte has welcomed the announcement from Minister of Finance and the Public Service Nigel Clarke that the national budget for 2022/2023 will “give disproportionate focus to the implementation of the restructuring of public sector compensation”. Speaking last week Wednesday at the
Caribbean Development Bank, CDB, on Tuesday projected that its borrowing members, or BMCs, would grow at a rate of 9.1 per cent, accelerating the region’s economic recovery which began in 2021. The development bank provides financing for 19 Caribbean members, many of which are tourism-dependent economies. CDB, which operates from
WASHINGTON, DC, USA (AP) — Stocks notched broad gains Monday, but still posted their worst monthly loss since the early days of the pandemic, as Wall Street closed a tumultuous January wracked by worries that imminent interest-rate hikes will make everything in markets more challenging. The S&P 500 came back
AS Jamaicans brace for new bank fees and charges, credit unions are positioning themselves as an alternative for those seeking reprieve. Robin Levy, group CEO of the Jamaica Co-operative Credit Union League, told the Jamaica Observer that he's encouraging locals who are frustrated with their bankers to consider joining a
