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Minister of Finance and Planning, Dr. Omar Davies has reiterated that there would be no wage freeze when the next memorandum of understanding (MOU) is signed between government and public servants in April. "The successor MOU agreement will not have a wage freeze. We couldn't ask people who have worked for two years without an increase to go into another...

The second staging of the Ministry of Finance and Planning's annual quiz competition got underway yesterday (January 24), as two teams comprising staff members from the Ministry's Public Enterprise and Economic Divisions faced off in the first of the seven-round contest. In a brief ceremony preceding the quiz, Finance and Planning Minister, Dr. Omar Davies praised the competition as being...

The 2004/05 financial year saw significant strides being made in the enhancement of the regulatory framework of the Financial Services Commission (FSC) with the introduction of and amendments to several bits of legislation. Among them were the passing of the Pensions Act (2004) and the amendments to the FSC Act 2001, allowing the Commission to disclose information to a wider...

Acting Managing Director of the Jamaica Mortgage Bank (JMB), Milverton Reynolds is predicting that the 2006/07 financial year will be a very profitable one for the JMB. "We really expect that 2006/07 is going to be a very good year for the bank in terms of our financing of residential construction. We're actually projecting total commitments of $3.7 billion financing...

Changes to transfer tax rates on estates at death, become effective tomorrow (June 1), as announced by Finance and Planning Minister, Dr. Omar Davies during his budget presentation in Parliament in April. As a result, at death there will be no tax on the first $100,000.00 value of the estate to be transferred. Thereafter, amounts over $100,000.00 will be at...

The Aenon Town All-age School in North Clarendon has been expanded at a cost of $10.2 million, by the Jamaica Social Investment Fund (JSIF). At a ceremony held on March 10, the new facilities comprising four additional classrooms, a bathroom block, staff room, sick bay and a small storeroom, were officially handed over to the school's administration. In his address,...

Executive Chairman of Air Jamaica, Dr. Vincent Lawrence has assured that the company's fleet would soon return to full strength, enabling the national carrier to once again provide the kind of first-class service for which it was known. "We anticipate that we should be back up and running with our full fleet very shortly and certainly as early as possible...

The year 2004 was a very good one for the country's export sector, with earnings from traditional exports increasing by 24.3 per cent from US$800.5 million to US$995.4 million, while income from non-traditional exports grew by US$33.3 million or 22.2 per cent to US$183.3 million. President of the Jamaica Exporters Association (JEA), Dr. Andre Gordon, who made the announcement at...

Dr. Vincent Lawrence, chairman of the Urban Development Corporation, will lead a nine-member board, which has been appointed by the government, to lead the restructuring of national airline, Air Jamaica, over the next six months. Finance and Planning Minister, Dr. Omar Davies, who named the members of the board at a press conference held at his National Heroes Circle office...

Finance and Planning Minister, Dr. Omar Davies has said that while the Jamaican Government was committed to having a national airline, it would not take back total control of Air Jamaica. "The government does not want to take back total control, we are committed to a strong, better managed Air Jamaica, but not an Air Jamaica at any price," he...

Minister of Finance and Planning, Dr. Omar Davies has emphasized that the government was totally committed to the future of Air Jamaica, as it was playing a critical role in the overall development of the country's tourism product and the national economy. "The government of Jamaica has been, by far, the major financial supporter of Air Jamaica, both in its...

The Crop Research and Development and the Plant Protection programmes in the Ministry of Agriculture have received $6 million for research activities. The allotment was made in the 2004/05 Estimates of Expenditure, which were tabled in the House of Representatives on Tuesday (March 31) at Gordon House. Of this amount, the Crop Research and Development programme has received $4 million...