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World Bank approves US450M “Competitiiveness” loan for Jamaica

The World Bank has approved a loan of US$50 million for Jamaica’s Foundations for Competitiveness and Growth Project.This will assist existing and new businesses to benefit from streamlined regulations and processes, public-private partnerships, as well as training and access to financing.     Finance Minister Dr. Peter Phillips says the project complements Jamaica’s fiscal and monetary measures [...]

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Silver, bronze for Jamaiac in sprint relays at World Junior Championships

Jamaica gained a silver and a bronze medal on the penultimate day of the IAAF World Junior Championships in Oregon on Saturday, with both sprint relay teams achieving a measure of success.First, the female team of Sashalee Forbes, Kedisha Dallas, Saqukine Cameron and Natalliah Whyte grabbed silver in their 4x100m relay in a time of [...]

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Former NWA director among five nabbed on fraud charges

Former Director of  Special Projects at the National Works Agency (NWA) George Knight, is among five men charged by the Major Organised and Anti-Corruption Task Force, MOCA, with fraud.Mr Knight, the CEO and President of  Cenitech Limited, and founder of the company, 62 year old Clava Mantock Snr, have been charged with forgery, uttering forged documents and [...]

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Stock Exchange revenue increase by 15%

An increase in fees and other income helped to boost the financial performance of  the Jamaica Stock Exchange, JSE, during the April to June quarter.The Stock Exchange’s revenue rose by 15 percent or eleven percent to 83 million dollars when compared to the corresponding period in 2013. The improvement in income also helped the JSE lower [...]

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Municipal Validation Amendment Bill passed by Senate

The Senate on Friday passed the Municipal Validation Amendment Bill.It removes the final hurdle for Portmore’s Acting Mayor, Leon Thomas, to remain in the position, until the next Local Government election. But the Bill was challenged by Opposition Senators who said the amendments were unconstitutional. The Bill, will among other things, validate official duties carried [...]

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Opposition not satisfied with amendments to tax bills

The opposition Jamaica Labour Party’s (JLP) spokesman on Finance Audley Shaw, remains unsatisfied with the amendments that have been made to the two tax Bills which were approved by the House of Representatives earlier this week. A wave of concern erupted from various quarters about the bills, because of the far-reaching powers it proposed to [...]

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Jamaican philanthropist – Raymond Chang is dead

Jamaican businessman and philanthropist Raymond Chang died in Canada on Sunday. Chang, who was conferred with the Order of  Jamaica in 2011, was ailing for some time.    He went to Canada in 1967 to study engineering at the University of Toronto. He became chairman of  CI Financial, one of  Canada’s largest investment fund and publicly [...]

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JMMB Group seeking to establish bank in Dom Rep

The JMMB group is seeking to establish a bank in the Dominican Republic, pending approval from the regulatory authorities in that country.       According to a news report from a respected source, Business News Americas, JMMB, is hoping to have the bank operational by year end. The Dominican Republic based bank, would add to JMMB’s presence in that [...]

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Bright start for Jamaica in Track & Field at Commonwealth Games

Jamaica’s track and field competitors have started brightly at the Commonwealth Games in Glasgow, Scotland.Kemar Bailey-Cole has so far logged the fastest time in qualifying for the men’s 100 meters. He won his heat in 10.16 while Jason Livermore was also a heat winner, easing to 10.26National Champion Nickel Ashmeade also won his heat, in [...]

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“Disabled could be shut out of rental market” – Communicaitons Specialist

With the pending implementation of huge fines for rental properties that do not have facilities in place to accommodate the disabled, it’s feared that the disabled could be shut out of the rental market.According to the recently passed Disabilities Act, rental premises are mandated to provide facilities to accommodate the disabled, with fines being imposed [...]

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