FINANCE MINISTER Audley Shaw yesterday reported a 91 per cent take-up of the $701-billion Jamaica Debt Exchange (JDX) bond offer, which was originally projected to be 90%. The debt exchange JDX will, however, be extended until early next week to accommodate more individual bond holders at home and abroad. Minister Shaw disclosed to the House Read More
THE International Monetary Fund (IMF) announced Thursday January 14th that it had reached a staff agreement for a US$1.25-billion loan to Jamaica. Thursday afternoon, the IMF’s Managing Director Dominique Strauss-Kahn said that the 27-month standby loan may go to the Fund’s board of directors for official approval “in the next few weeks”. This favourable development Read More
The government of Jamaica is to embark on a debt exchange program that is said to save the country JM$ 40 billion over the next fiscal year. The planned debt exchange transaction will involve the swapping of over $720 billion in its domestic debt for lower yielding bonds. A Jamaica Information Service (JIS) press release Read More
Jan 012010
Olint TCI Corporation Limited made an application to The Supreme Court of Judicature of Jamaica on December 7th, 2009. The Supreme Court granted Olint which is in compulsory liquidation, an Interim Freezing Order against David Smith, Tracey-Ann Smith and Gilbert Wayne Smith. The Court also on the 7th December 2009 also granted an interim freezing Read More
Jan 012010
The revised tax policies announce by Jamaica Prime Minister Bruce Golding take effect today, as the government seek to address Jamaica fiscal problems. The new taxes will affect items ranging from cigarettes, fuels, luxury vehicles and electricity. The GCT rate will increase from 16.5% to 17.5%. However, not all of the tax measures announce will Read More
Last week the government of Jamaica role out a new tax package that comes into effect as of January 1, 2010. This result in out cries through the length and breadth of the island and even threat of widespread protest. Under the new tax regime announced last Thursday by Finance Minister Audley Shaw, some food Read More
Jamaican Prime Minister Bruce Golding put the nation on alert for new taxes in 2010, after the government signs the pending International Monetary Fund (IMF) deal. The Prime Minister made the revelation at a JIS interview hosted by Ian Boyne. This comes on the eve of a schedule increase in the income tax threshold from Read More
Dec 022009
Christmas in Jamaica is arguably the best time of year, and the time of year when consumers spend the most. But this holiday season is much different from the previous one mostly due to the harsh economic climate. Consumers are being faced with the adversity of rising prices and less buying power. Maybe it won’t Read More
Since the global recession zoomed in on Jamaican about a year ago, over 40,000 individuals have since been out of a job. Many of whom have kids to send to school, mortgages to pay, and debts to service but is without their usual fortnightly or monthly income. The question is, “what do you do if Read More
Nov 182009
MarketplaceJA would like to congratulate Air Jamaica for capturing the award as the Caribbean leading airline for the 12th consecutive year. Air Jamaica received the award at the recently held World Travel Awards in London. Voting was culminated by thousands of travel industry professionals span across 190 countries around the world, giving Jamaica and Air Read More