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The Bank of Jamaica (BOJ) has announced that effective today (June 4), the interest rate payable on the bank's 30-day Certificates of Deposit will be reduced by 50 basis points, that is, from 10.00 per cent to 9.50 per cent. A basis point (bp) is a unit relating to interest rates that is equal to 1/100th of a percentage point...

Minister of Finance and the Public Service, Hon. Audley Shaw, has suggested that new technologies be utilised to convert waste material into energy, to support development and growth in Jamaica. The Minister, who was speaking at the National Solid Waste Management Authority's (NSWMA) awards function on Friday (June 4) at the Courtleigh Auditorium, New Kingston, noted that Jamaica has been...

The Jamaican dollar closed trading last week at $86.83 to the United States (US) dollar, representing an appreciation of approximately three percent against the US currency since the beginning of the year. This is seen as a welcomed sign of improvements in some key macroeconomic fundamentals, and an indication that efforts by the Government to build confidence in the economy...

Financial Secretary, Dr. Wesley Hughes, says Jamaica's economic programme with the International Monetary Fund (IMF) will not have to be "drastically reordered", despite the negative impact the recent unrest in sections of Kingston will most likely have on the country's economic plans. Dr. Hughes, who was speaking recently on the Jamaica Information Service's current affairs programme, Issues and Answers, said...

For the financial year 2009/10 some $26 million was disbursed from the Self Start Fund to the small and micro enterprises (SMEs) sector. A ministerial report tabled recently in the House of Representatives said the Fund facilitated business loans to 113 entrepreneurs within the SME sector, with the average loan size being $200,000. Other achievements include creation/preservation of approximately 441...

Permanent Secretary in the Ministry of Agriculture and Fisheries, Donovan Stanberry, has underscored the role of the National People's Co-operative Bank of Jamaica (NPCB), in providing economic stability in rural communities. Delivering the keynote address at the Bank's Annual General Meeting on Wednesday (May 19), at the Kendal Conference Centre, Manchester, he noted that the institution once provided core guidance...

Financial Secretary, Dr. Wesley Hughes, told an international audience Thursday (May 20), that Jamaica was progressing in its economic programme to ensure stability and to secure sustainable growth and development, in the aftermath of the global financial and economic crisis. Highlighting the longstanding economic challenges facing the nation, Dr. Hughes outlined aspects of Jamaica's recently embarked upon economic programme, which...

The Planning Institute of Jamaica (PIOJ) is reporting that Jamaica's short-term economic prospects are generally positive, with growth in the country's Gross Domestic Product (GDP) expected for this year. At the PIOJ's quarterly press briefing at the Institute, today (May 20), Acting Director General of the PIOJ, Dr. Pauline Knight, said that the improvement in the global economy, the support...

Minister of State in the Ministry of Finance and the Public Service, Senator Arthur Williams, today commended the Caribbean Development Bank (CDB) for four decades of contribution to regional development as well as the individual advancement of its borrowing members. Senator Williams was speaking at the Fortieth Annual Meeting of the Board of Governors of the Caribbean Development Bank (CDB)...

Eleven young manufacturing companies have been selected for special marketing opportunities under Continental (National) Baking Company's 'The Bold Ones' initiative. The companies, which were selected from a field of 18, were presented today (May 19) at a breakfast meeting at the Knutsford Court Hotel, in St. Andrew. They are: Adducci Jamaican Cigars, AMG Packaging, Banyan Creations, Chocolate Dreams, Country House...

Minister of Finance and the Public Service, Hon. Audley Shaw, says the Government will be "closing the door" on tax evasion, under the current tax waiver system. Speaking at a press conference today (may 18), at the Ministry of Finance and the Public Service, Heroes Circle, Mr. Shaw said that a forensic audit into the system has revealed several irregularities,...

Jamaica's performance under the economic programme set out in its agreement with the International Monetary Fund (IMF), has been better than expected, with the economy even over-performing in several areas. Minister of Finance and the Public Service, Hon. Audley Shaw, made this announcement in the House of Representatives, today (March 18), when he gave an update on the country's performance...