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MONTEGO BAY - Commissioner of Customs, Major Richard Reece, is reporting an improvement in collection from its Montego Bay Revenue Centres in St. James. Major Reece is attributing this to success in the Customs Department's drive to clampdown on leaking revenues and going after persons who try to beat the system. "Recognizing the enhancing revenue measures are only $1.4 billion,...

Jamaica Promotions Corporation (JAMPRO) will be implementing its 'Business Connect' strategy with the Diaspora, in time for the 5th Biennial Diaspora Conference, to be held from June 16 to 19 at the Montego Bay Convention Centre, in St. James. "JAMPRO is currently in the process of activating inward investment and business missions from the United States, Canada, and the United...

A Bill making provisions for harmonising the treatment of charitable organisations for the purpose of taxation was passed in the House of Representatives on May 15. The Charitable Organisation (Tax Harmonisation) (Miscellaneous Provisions) Act 2013, was piloted by Minister of Finance and Planning, Dr. the Hon. Peter Phillips. The Bill is considered as a structural benchmark within the extended fund...

Bank of Jamaica (BoJ) Governor, Brian Wynter, is reporting a US$113 million increase in the country’s Net International Reserves (NIR). The figure is US$997.3 million as at May 10, compared to US$884.3 million at the end of March. Mr. Wynter attributed the improvement to “substantial” purchases of foreign exchange from the market by the BoJ, as well as the initial...

The Bank of Jamaica (BoJ) is projecting economic growth ranging between 0.5 and 1.5 per cent for the 2013/14 fiscal year. BoJ Governor, Brian Wynter, who made the disclosure during the Bank’s quarterly media briefing on Wednesday, May 15, said this forecast is based on the “expected boost” to investor confidence, consequent on the government’s recent conclusion of a four-year...

The Senate has approved the Appropriations Bill, giving approval to the Government's estimated expenditure of $520.88 billion for the financial year 2013/2014. A budget of $520.88 billion was presented by the Government for 2013/14, with $370.5 billion earmarked for Recurrent (house-keeping) expenses and $150.38 billion for Capital (development) spending. In piloting the Bill in the Senate on Friday, May 10,...

Some 60,000 residents from 14 communities along the Hayes corridor in Clarendon are benefitting from a newly constructed multi-purpose centre. The facility, called the Wembley Centre of Excellence, was built at a cost of $24.3 million through funding from the Jamalco and Alcoa Foundation, as well as support in both cash and kind from various community stakeholders. Boasting space of...

Finance Minister, Dr. the Hon. Peter Phillips Presentation for 2013/2014 Budget: "Restoring Hope, Expanding Opportunities" DBJ to Provide $2 Billion for Micro and Small Business Sector No New Taxes DBJ Providing US$20 Million for ICT Expansion Gov't Provides $94 Billion for Welfare and Development Assistance Government to Advance Programme to Modernise Public Financial Management Gov't Lowers Debt Servicing Costs Final...

Plans for Jamaica to become a major transshipment and logistics centre have been significantly expanded with a further US$1.5 billion investment from the China Harbour Engineering Company (CHEC). Minister of Transport, Works and Housing, Dr. the Hon. Omar Davies, made the disclosure during his opening presentation in the 2013/14 Sectoral Debate in the House of Representatives on May 7. “This...

The drive to acquire two Linear Accelerator (LINAC) machines to enhance cancer treatment in the public health sector, is gaining support from corporate Jamaica. Several business entities, on Tuesday, May 7, handed over cheques valued at over $400,000 to the Jamaica Association of Administrative Professionals (JAAP) LINAC Fund Project, through which the initiative is being undertaken. The project, launched in...

The first tranche of US$207 million from the International Monetary Fund (IMF) is expected to be deposited into the Jamaican account on Friday, May 3. Confirmation came from Prime Minister, the Most Hon. Portia Simpson Miller, who addressed a post budget news conference on Friday morning, at Jamaica House, where she reiterated that US$90 million will be provided for budgetary...

Finance and Planning Minister, Dr. the Hon. Peter Phillips, says the task to successfully complete the obligations under the International Monetary Fund (IMF) programme is a national undertaking, which will require “all hands on deck”. “If we are to create this new environment, it is not a task that can be accomplished simply by Government operating on its own. It...