Royal Caribbean Cruises has announced that it will lay off or furlough about 26 percent of its workforce in the United States, affecting nearly 1,300 of its more than 5,000 employees in the country, as the coronavirus chokes international travel. The news comes as the fast-spreading pandemic led to the
KINGSTON, Jamaica— Tourism Minister, Edmund Bartlett says the Government has handed over $250 million of the $1 billion committed to the Tourism Workers Pension Scheme to newly-selected fund manager, Sagicor Jamaica Limited. “The long awaited Tourism Workers Pension Scheme has reached another milestone. We can now announce that we have
One of the things you appreciate with Enterprise Risk Management, is that it is not possible, or feasible, to eliminate every risk. What you do is put policies in place to mitigate the identified risks, as much as possible and practicable. In other words, there will always be some risks
Sagicor Jamaica is expressing confidence that it is capitally strong and highly liquid enough to ride out the COVID-19 economic contraction now on in earnest in Jamaica and across the globe. President and CEO of Sagicor Group Jamaica Chris Zacca spoke about the group's strong capital position having amassed $140
Jamaica has requested access to the International Monetary Fund's (IMF) Rapid Financing Instrument (RFI), Finance Minister Dr Nigel Clarke disclosed yesterday. According to Minister Clarke, the decision was taken to access the instrument because the duration of the “global lockdown” to stem the spread of COVID-19 is highly uncertain. “The
As the unprecedented crisis of the COVID-19 pandemic continues its onslaught on the world, the Inter- American Development Bank (IDB) has said that there will be severe economic implications for some Caribbean countries. In its recently released quarterly bulletin for April, the report noted member countries such as Barbados, Jamaica,
The Statistical Institute of Jamaica (STATIN) in its labour force survey findings for January said that the period recorded an unemployment rate of 7.3 per cent which was 0.7 percentage points lower than the rate of 8.0 per cent in January last year. Speaking at a quarterly briefing held yesterday
Key Insurance Company Limited has migrated to the main market of the Jamaica Stock Exchange. This took effect Thursday. A notice on the JSE's website said Key's application to leave the Junior Market was approved on Tuesday. http://rjrnewsonline.com/business/key-insurance-migrates-to-main-market-of-jse
GENEVA, Switzerland (AFP) — Airline passenger revenues are set to plunge by 55 per cent, or US$314 billion, in 2020 due to the novel coronavirus pandemic, the International Air Transport Association (IATA) said yesterday. It marks a sharp worsening of the forecast for the aviation industry, as just three weeks
PARIS, France (AFP) — Rich nations appeared yesterday to be moving towards a temporary debt relief deal to help poor countries weather the coronavirus pandemic. Finance ministers and central bankers from Group of Seven (G7) countries said Tuesday they favour a temporary halt to debt payments from the world's poorest
