LASCO Distributors Limited said that in its continued drive to improve efficiencies and reduce overall operating costs it will discontinue its distribution arrangement for the Unilever cold storage and dry food portfolio, effective Wednesday,...
Businessman Michael Lee-Chin has served notice that he intends to submit to arbitration a claim against the government of the Dominican Republic seeking to recover more than US$300 million in damages for expropriating his investment in that country....
In a five-year review of Clarendon Alumina Production, CAP, the Auditor General raised concerns about the state company's solvency, saying that while there was marginal improvement to two per cent, it was well below the threshold of 20 per cent,...
Jamaica's foreign exchange system has entered into a new paradigm of flexibility, where the value of the Jamaican currency is likely to move in either direction based on market conditions, according to Brian Wynter, governor of the Bank of Jamaica,...
The Office of Utilities Regulation (OUR) has established a new meter-testing protocol to provide an appropriate framework for the verification and testing of existing and future meters used in the Jamaican electricity and water sectors.The protocol...
Termination rate cuts for fixed line phone calls are now to be implemented over a four-month period starting December 1, this year as the Supreme Court gives the green light to the Office of Utilities Regulation, OUR, to proceed with its decision...
Disciplinary proceedings instituted against Wentworth Graham, chief regulatory officer of the Jamaica Stock Exchange (JSE), have been abandoned consequent on his passing last week.Asked what happens with those proceedings now, Robin Levy, who until...
The enactment of a Jamaican data protection law introduced under a bill in Parliament earlier this month, while creating a regulatory burden, could open up...
The Jamaica Public Service Company (JPS) will be levying a late payment interest charge on any of the Government's electricity bill balance that remains unpaid seven days after the due date, effective October 1.JPS Director of Corporate...
Anyone who feels aggrieved by any kind of development in their neighbourhood can invoke the provisions of the Restrictive Covenants (Discharge and Modifications) Act to kill the project, according to attorney Clayton Morgan.While Morgan notes that...
It would be an incredible achievement if the Jamaican economy realises annual growth of 2.8 per cent over the next five years, having expanded by an average 0.5 per cent over the past decade, according to economist Inder Ruprah.Referring to the...
The prevalence of poverty in Jamaica, at 21.2 per cent, has reached its second-highest level in almost two decades, according to the 2015 survey of living conditions, the latest such study conducted by the Statistical Institute of Jamaica (STATIN)....
Despite an increase in employment, there was a near one-third decrease in collection of personal income taxes for the first four months of this fiscal year, April-July, relative to the corresponding period last year.While the Government said that...
Cable & Wireless Jamaica Limited, which trades as Flow, has filed an application in the Supreme Court seeking to bar the Office of Utilities Regulation, the OUR, from implementing cuts to termination rates for fixed line calls.The OUR had developed a 'glide path' to implement the rate cuts over six months, from October 1 of this year to...
While the financial sector provides services that assist both directly and indirectly in the growth and development of the economy, it can do more by providing services that will reduce social problems, according to head of the financial stability...
By a majority decision, the Court of Appeal has upheld a lower court's refusal to grant an injunction barring Jamaica Stock Exchange Limited (JSE) from convening a disciplinary hearing against its chief regulatory officer, Wentworth Graham, pending...
Allowances paid to public-sector workers in central government account for about a third of the wage bill, or more than $55 billion, according to a review...
