The National Insurance Fund (NIF) net assets have increased by $8.32 billion for the calendar period that ended December 31, 2015. According to the Ministry of Labour and Social Security’s annual report for 2015, the 11.82 per cent improvement was attributed to improved share prices, money market investments and real estate investments. In the meantime, the current assets of the...

Small and medium-sized manufacturers are to benefit from a $30-million loan facility established by the EXIM Bank of Jamaica in collaboration with the Jamaica Manufacturers’ Association (JMA). The facility enables JMA members to borrow a maximum of $1.5 million to purchase equipment and raw materials, among other operational inputs. Entities must be in good standing with the JMA, be tax...

The Jamaica Deposit Insurance Corporation (JDIC) has awarded students who participated in its online Android Financial Education Competition. The competition, which targeted secondary-school students from grades seven to 13, was presented as a game designed to increase children’s understanding of the financial system and information related to the deposit insurance scheme in Jamaica. Dominique Ferguson, a 10th-grade student from the...

With the implementation of the new income tax threshold on July 1, Tax Administration Jamaica (TAJ) says it will continue to stage sensitisation sessions to help persons understand the changes that have taken place. “The legislative changes, you will appreciate, have just come into effect to give rise to the changes, but we have been working with persons so that...

For 70 years, the Statistical Institute of Jamaica (STATIN) has been providing official data to the Government and people of Jamaica. STATIN’s mandate includes collecting, compiling, analysing and publishing information relating to commercial, industrial, social and economic engagements, among other activities. Among these is the population and housing census, which is undertaken every 10 years. Director General, Carol Coy, tells...

Thousands of Jamaicans continue to benefit from opportunities for international studies and professional training, under scholarship programmes being administered by the Ministry of Finance and the Public Service. The programmes, which are offered by Jamaica’s bilateral and multilateral partners, are aimed at equipping the country’s workforce. Minister of State with responsibility for the Public Service, Hon. Rudyard Spencer, says there...

The Government has received $3.79 billion (US$30 million) from the World Bank to further boost disaster and climate risk management in Jamaica. The loan will support the administration’s ongoing programme to reduce the incidence of environmental hazards over a six-year period under the Bank’s Disaster Vulnerability Reduction Project (DVRP). The DVRP, which will be implemented by the Jamaica Social Investment...