More

KINGSTON – Finance and Public Service Minister, Hon. Audley Shaw, is optimistic that Jamaica will record economic growth of  between two and three per cent during the 2011/12 fiscal year. The Minister, while noting that this is an “ambitious” projection, contends that this forecast is based on what he describes as adequate “momentum” built up in the various programmes being...

With today being ‘Tax Day’, the Tax Administration has made special arrangements at its Customer Care Centre and at all Tax Offices across the island as it anticipates the usual large number of persons filing their Income Tax Returns on to meet the March 15 deadline. To deal with increased calls, the Tax Administration Customer Care Centre is again extending...

Minister of Industry, Investment & Commerce Karl Samuda leaves the island today for London at the head of a trade and investment mission aimed at stimulating demand for Jamaican products in the international market; generating new Foreign Direct Investments into the island and creating partnerships between stakeholders in Jamaica and the U. K. The Minister will be accompanied by a...

In response to reports appearing in the media about the lack of coverage of the FINSAC Commission of Enquiry being held at the Jamaica Pegasus Hotel, New Kingston, the Jamaica Information Service (JIS) wishes to inform the public of the following: The FINSAC Enquiry is aired on cable television station, Cable News & Sports (CNS), available on channel 15 on...

Building on its financial support of businesses operating within the productive sector, the National Export-Import (EXIM) Bank of Jamaica Limited, has introduced a Champions Assist programme, to further help small and medium-sized enterprises (SMEs). To benefit at least 15 viable SMEs in the agri-business sector initially, the programme, launched earlier this month by EXIM Bank, will allow agri-businesses to access...

KINGSTON — Co-owner of once popular furniture and appliance retailer, Homelectrix, George Hugh, told the FINSAC Commission of Enquiry, Tuesday February 22 that his family suffered mentally and financially from the loss of the company following the 1990s financial meltdown. Mr. Hugh noted that, at the time, Homelectrix was the second largest home appliance retailer in the country, to Courts...

Deputy Financial Secretary in the Ministry of Finance and the Public Service, Ann Marie Rhoden says  more equitable arrangements between the publicandprivate sectors are essential for the success of Government’s infrastructural development programmes. Mrs. Rhoden noted that while the Government has engaged in public-private partnerships (PPPs) for the development of infrastructural works, “what we have recognised is that, government has...

Bank of Jamaica (BoJ) Governor, Brian Wynter, is forecasting marginal growth in economic activity for the March quarter, which should spill over into fiscal year 2011/2012. The growth, he said, will be driven by continued expansion in mining and quarrying, hotels and restaurants, and electricity and water supply, which should offset declines in other sectors. Mr. Wynter was addressing the...

KINGSTON — Mandeville businessman, Michael Levy, Thursday (February 17), denied that he signed on to a 55 percent interest rate on a $4 million loan from Eagle Commercial Bank in 1992, which ballooned into his over $1 billion indebtedness to the Jamaica Redevelopment Foundation (RDF) Inc. in 2008. Attorney for JRF, Sandra Phillips, while cross examining Mr. Levy, as the...

Director General in the Ministry of Finance and the Public Service, Devon Rowe, has explained that implementation of the proposed Central Treasury Management System (CTMS), will allow the Government to modernise its operations and maximise the use of its resources. “We can see improved cash management immediately, because government will have access and sight of all its cash at one...

Minister of Finance and the Public Service, the Hon. Audley Shaw today announced the successful placement of a US$400 million Eurobond at a record interest rate of 7.95 percent – the lowest rate at which Jamaica has ever raised funds on the International Capital Market. The offer replaces a US$400 million Eurobond that was issued in 2001 at 11.75 percent...

KINGSTON — A Mandeville businessman told the Commission of Enquiry into the 1990s financial sector collapse, on Wednesday (February 16), how a $4 million loan from the Eagle Commercial Bank in 1994 turned into a $1 billion debt in 2008. Businessman Michael Levy, who owned the Bankhouse Mall on Manchester Road, Mandeville, said that after learning that, despite paying back...