Jamaica
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Gov’t signs bilateral investment treaty with Kuwait
KINGSTON, Jamaica – JAMAICA has signed a Bilateral Investment Treaty (BIT) with Kuwait that will encourage and guide future investments into the Caribbean country. The agreement, signed by Anthony Hylton, Jamaican Minister of Industry, Investment and Commerce, and Kuwaiti Minister of Finance Mustafa Al-Shemali, is part of a broader high-level Ministerial Trade Mission to the Middle East Gulf States of…
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This woeful public silence on UN decision against Haitians
KINGSTON, Jamaica – IT'S now more than six weeks since it became public knowledge for the governments and people of our Caribbean Community that the secretary general of the United Nations, Ban Ki-Moon, had conveyed the very shocking decision to the president of Haiti, Michel Martelly, of the world body's rejection of compensation claims affecting some 5,000 Haitian cholera victims.…
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President Obama’s commendable gesture
KINGSTON, Jamaica- IN 1978 Mr Lee Iacocca joined Chrysler as president and chief operating officer for the princely salary of US$1 a year. At the time, Mr Iacocca was by no means a poor man, having done well for himself at Ford Motor Company from which he was fired by Mr Henry Ford II. But Mr Iacocca, in an effort…
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Politicians are not economic managers
KINGSTON, Jamaica – When we consider the state of many of the economics in the Eurozone and especially the recent near meltdown in Cyprus at the end of last month, many do contend that politicians are not at all economic managers. Some would insist that politicians – in Europe, the Caribbean and parts of Africa – have been extremely harmful…
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Challenges on the horizon says analyst
KINGSTON, Jamaica, CMC – Ahead of Thursday’s presentation of the 2013/2013 Budget Debate, a local financial analyst is warning of major challenges on the horizon . With the Budget being tabled against the background of a not yet signed deal with the International Monetary Fund (IMF), financial analyst, Dennis Chung, believes it will be difficult for the Government to meet…
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Doctors on strike
KINGSTON, Jamaica, CMC – The islandwide protest by doctors in the public health sector has stemmed from an impending reclassification exercise to be undertaken during the 2013/2014 financial year. Health Minister, Dr. Fenton Ferguson who made this disclosure in Parliament on Thursday afternoon said he hopes the Ministry of Finance will deal with the reclassification issue swiftly to bring back…
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Big squeeze – Budget demands tighter spending
KINGSTON, Jamaica – Most government ministries and departments will have to survive with less money this fiscal year as Finance Minister Dr Peter Phillips has kept his word and dramatically tightened the Government's spending plans. Phillips yesterday tabled a spending plan for the 2013-2014 fiscal year which reflects huge savings on interest payments and debt repayment but still leaves ministries…
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Government to focus growth and development
KINGSTON, Jamaica, CMC – Governor General Sir Patrick Allen says the divestment of Public Sector assets and a major infrastructural project will be some of the areas of focus by the Portia Simpson Miller administration in this legislative year. “Through a managed privatisation process, the Government intends to make a renewed effort to dispose of some Public Sector assets to…
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Cutting the fat – Finance minister to present tight Budget today
KINGSTON, Jamaica – Jamaicans will know today just how much the Government plans to spend during this fiscal year but already some financial analysts are warning the country to brace for a tight budget. “It is not going to be a budget of goodies,” financial analyst Colin Bullock told The Gleaner. “The country is in a very serious situation now…
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Private sector groups worried at slide in local currency
KINGSTON, Jamaica, CMC – Two private sector organisations are warning that the Jamaican economy is nearing crisis level amid concerns of a rapid slide in the local currency. At the end of trading on Tuesday, the US dollar was being sold at a record J$99.08. At the start of the year, the US dollar was trading just above the J$93…
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