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The Financial Services Commission (FSC) plans to move decisively this year to address glitches in the laws governing the Mutual Trust Fund and Unit Trust, as it seeks to stave off the havoc unleashed by the global economic meltdown. Executive Director of the FSC, Rohan Barrett, asserted today (March 9), that the global financial crisis presents an opportunity to change...

Minister of Finance and the Public Service, Audley Shaw, has said that the Government is committed to maintaining free health care for all Jamaicans at public health facilities. Mr. Shaw was speaking at a Rotary Club of Christiana dinner at the Mandeville Hotel, on Wednesday (March 4) to honour a group of American dentists who have been providing voluntary dental...

Superintendent of Police for Manchester, Ryland Salmon, has said that the close collaboration among community groups, citizens, and the police over the past three months, was yielding results, with the capture of many wrongdoers. "It is clear to us that our community-based policing is working in certain critical communities and that our work is producing results where we have recovered...

Finance and Public Service Minister, Audley Shaw, has said that the Inter-American Development Bank (IDB) is looking at assisting in the expansion of an agricultural greenhouse technology pilot project in his North East Manchester constituency. Addressing the launch of the FINPYME company competitiveness programme at the Jamaica Pegasus Hotel, in Kingston on Monday (Mar. 2), Mr. Shaw said that during...

Minister of Finance and the Public Service, Audley Shaw, has urged financial lending institutions to become more receptive to the needs of the business sector. Mr. Shaw urged the institutions to return to the drawing board and rethink their position, warning that they needed to be "receptive and responsive" to stakeholders in the productive sector who are seeking assistance with...

Jamaica's earnings from the bauxite levy are not expected to yield anywhere near the projected $6 billion for the 2009/10 fiscal year, consequent on the global economic downturn, Finance and the Public Service Minister, Audley Shaw, has said. "We will be lucky if we earn half of that," Mr. Shaw told the launch of the FINPYME company competitiveness programme, at...

Implementation of the a bi-lateral air services agreement signed by Jamaica and Brazil has been put on hold, pending, among other things, the divestment of the national carrier, Air Jamaica. The agreement was inked in December 2007, by Transport and Works Minister, Michael Henry, and then Brazilian Ambassador to Jamaica, Cezar Augusto De Souza Lima. It signalled the culmination of...

President of the Graduate School of Leadership and Professional Development in Namibia, Jamaican-born Professor Earle Taylor, has attributed the current global economic crisis to a lack of leadership and management. Professor Taylor said that the unwillingness of some countries to recognise the need for, and value of effective and sound leadership on a continuous basis, or to ensure that this...

By the end of March, the National Export-Import Bank (EXIM) of Jamaica will have disbursed some $6 billion in loan funds for 2008/2009, a 25 per cent increase over the previous fiscal period. The disbursement would have met the target set by the new board of directors appointed in December, 2008 and, as Deputy Managing Director of the bank, Megan...

Minister of Finance and the Public Service, Audley Shaw, has underscored the need for higher output in agriculture, to reduce the number of waivers that the Ministry is called on to grant for imported food items. The Minister, who spoke at the Annual General Meeting of the National People's Co-operative (PC) Bank of Jamaica, on Wednesday (February 18), at the...

Governor of the Bank of Jamaica (BoJ), Derick Latibeaudiere, has said that the Net International Reserves (NIR) remained "relatively strong", despite a drop in the level, due primarily to sales in the foreign exchange market to ease demand pressure and stem depreciation in the value of the dollar. The reserves currently stand at US$1.7 billion and according to Mr. Latibeaudiere...

Minister of Finance and the Public Service, Audley Shaw, has said that a fixed exchange rate policy, in the midst of the current foreign exchange shortage, could cause serious repercussions and, therefore, is not being considered by the Government. Speaking at the 2009 Kingston Money Expo, hosted by Today's Money Limited, at the Hilton Kingston Hotel, New Kingston, on Thursday...