Slow pension plan approvals - FSC sets 50% target by year-end, 60% for trustees
Losses sustained by the Financial Services Commission (FSC) were the fault of a tardy legislature and had nothing to do with the agency's cost efficiencies, Finance Minister Dr. Omar Davies has said in defence of the regulator. In fact, Davies described some of the losses...
Broilers ethanol plant a month behind schedule
Jamaica Broilers' US$20 million (J$1.3 billion) ethanol dehydration plant is to come on stream a month later than expected, Senior Vice-President Christopher Levy said Wednesday. Levy told the Financial Gleaner that construction was delayed...
JTA credit union to pay $148m in dividends - After strong financial year
The Jamaica Teachers' Association Cooperative Credit Union (JTACCU), which recorded 15 per cent growth in assets last year, has said it will pay out dividends of $148.2 million to its members. The four-decade old credit union, which draws membership from the island's strongest...
LOJ affirms marriage to insurance business - Says attraction to real estate 'marginal'
Life of Jamaica president and CEO Richard Byles said Wednesday that notwithstanding significant returns on its recent real estate investments, the company is committed to its core business as life underwriters. "We are an insurance company and not a real estate company...
LOJ claims dominance
Financial conglomerate Life of Jamaica, has proclaimed itself the country's leading insurance providerand pensions fund manager, backed by new data released at its annual general meeting Thursday. In the category of group health insurance, LOJ was the dominant player...
Paulwell to table cyber crime legislation
Anticipating that ecommerce transactions will eventually outpace traditional business, Jamaica is pushing to enact cyber crime legislation to bolster the recently enacted Electronic Transaction Act. Technology Minister Phillip Paulwell says the pending law....
BOJ projects strong growth
The central bank says it is still projecting economic growth of up to 3.5 per cent this fiscal year, despite the Government having to roll back, by nearly half a percentage point, real GDP performance for the financial year just ended.
Caribbean tourism
Caribbean Tourism Organisation (CTO) chairman Allen Chastanet says despite conditions in the international travel market favouring growth, the Caribbean's share of the world market is in decline. In an address to the opening of the 11th annual Caribbean Hotel...
Debt still the big issue, says IMF
In the normal course of things Finance Minister Dr. Omar Davies might not be too unhappy with the latest review of the Jamaican economy by the International Monetary Fund, except perhaps for another lecture about the country's debt burden.
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