Jul/Sept 2018 Articles


Unleashing the power of the stock market will drive wealth creation by funding ventures that local banks are not inclined to support adequately.

 


Economic transformation requires shared national vision and leadership from all sectors and institutions regardless of which party holds the reins of power.


This article discusses the business models of two mutual firms in Jamaica with a view towards answering one critical question: What strategy should Jamaican mutual firms adopt to avert or reverse declining financial health? Observations span a period of nine years to obtain a long-term picture of financial performance. The firms examined are the Community & Workers of Jamaica Cooperative Credit Union Ltd. (C&WJ) and the Jamaica National Building Society (JNBS).


The IDB says crime and corruption cost the Jamaican economy some four percent of GDP so any talk about serious economic growth must address this issue squarely.


The vision of economic independence is not unattainable. Jamaica, over the last decade, has made some strong structural, fiscal and monetary transformation towards building a stronger and more resilient economic system.

 


Substantial funding is available for social enterprises but many of them are not cashing in because they lack the capacity to absorb and use the funds properly.


For some time now traditional financial institutions have been facing disruptions in their business model as new technologies facilitate major changes in customer perceptions and expectations. How are the banks responding?


Business executives increasingly consider information to be one of their most important competitive weapons, but few organisations have any sense of the value of their Data & Information assets.

Local Business News

NEW YORK (AP) — In a record sale for a US sports franchise, the co-founder of Alibaba agreed to buy the remaining 51 per cent of the Brooklyn Nets and Barclays Center for about US$3.4 billion, two people with knowledge of the details said last Friday (August 16).Joe Tsai already had purchased 49 per cent of the team from Russian billionaire Mikhail Prokhorov in 2018, with the option to become controlling owner in 2021.

Soap maker and lumber distributor Blue Power Group Limited (BPow) is hoping to tap into a wider market by distributing its soap product lines through online channels.Managing director of BPow, Major Noel Dawes, told SUNDAY FINANCE that the company hopes to sign a deal with Amazon — the world's largest online retailer and a prominent cloud services provider.

QUESTION: What does open driving mean in the context of motor insurance? Am I not allowed, as a responsible parent, to give permission to my 18-year-old daughter − a student who just got her driving licence − the keys to operate my vehicle...

The Diamonds International Jamaica store located at the cruise ship port in Falmouth, Trelawny, recently donated $150,000 to assist the Falmouth Public General Hospital to raise J$150,000 for much needed medical equipment. The money was raised through a fashion and entertainment event organised by the store and held at Margaritaville in Ocho Rios.

Dear Claudienne,I have a retired friend living in Vancouver, Canada, who spends her time making gifts for friends using supplies obtained from a crafts store. On May 27,2019, she sent me a Barbie doll with a dress she made herself. It cost her Canadian $201.47 to send it by UPS to Jamaica.

Following the announcement of a 17 per cent increase in net profits, Jamaica Money Market Brokers (JMMB) is indicating that for the next financial year greater financial solutions is going to be forthcoming for Small and medium -sized enterprises (SMEs).

In contrast to the global trend, flows of Foreign Direct Investment (FDI) to Latin America and the Caribbean increased by 13.2 per cent in 2018 versus 2017, totalling US$184.287 billion dollars.

Dear Claudienne, I now live overseas. On August 4, 2012 I made a claim to the NIS office in Spanish Town for my old age NIS benefits as I had reached pensionable age.Some months later I was informed by that office that the sugar estate company that I had worked for from 1968 to 1981 (13 ½years), which had gone outof business, had not remitted many years of my contributions to the NIS.

The government of President Nicolás Maduro on Thursday nullified the newly named board of Venezuela’s prized Citgo refineries in the United States amid a political battle for control of the country, saying opposition leaders had no right to appoint...

The Jamaica Stock Exchange (JSE) is advising of the continued suspension of trading in the shares of SSL Venture Capital Jamaica Limited (SSLVC) for breaches of JSE's Junior Market Rule.In accordance with JSE Junior Market Rule 505, Section 14 (a) (i), the JSE has decided to continue with the suspension of trading in the shares of SSL Venture Capital Jamaica Limited (SSLVC) due to its failure to satisfy the following breaches:

From Harvard Business Review

Harvard Business School professors Rebecca Henderson and George Serafeim discuss the impact investing efforts of Hiro Mizuno, CIO of GPIF, Japan’s government pension fund. He says that improving corporate governance, increasing inclusion and gender diversity, and addressing climate change would expand Japan’s economy. But, should a pension fund try to change the world?
Julie Zhuo, Facebook’s VP of product design, started at the company as its first intern and became a manager at the age of 25. Like many first-time bosses, she made many missteps and acted how she thought managers were supposed to act. Eventually, she grew to find joy in the role and today she leads hundreds of people. She says that becoming a great manager also helps you...
And five steps to get started.
Do what you’re good at, not what pays the most.
It’s time to rethink how sponsorship works.

Executive Insights

October 9, 2018

Several conversations surrounding different aspects of climate change have been top of the news over the last week. These include: changing hurricane patterns; sea temperatures warming; overall global warming; earthquakes and powerful tsunamis; polar melts; coral reef destruction; dangers of extinction of certain species that are important to agriculture, among others.

June 12, 2018

In just one week and two airplane rides, the media, the speculators, the “expert” analysts, and the political spin doctors are up at full speed. Contradictions of opinions, historical precedencies, former diplomatic maneuvers, and fairly obscure academics are having their one minute soundbites that will give rise to yet another book.

June 8, 2018

Barbados has a historical reputation (similar to Jamaica) of punching above its fighting weight. Who can forget the famous telegram supporting Britain in the Second World War: “Go ahead, Barbados is behind you”, this as Britain declared war on Germany and Hitler’s 3rd Reich. It was more than a statement; it was an AUDACIOUS statement from “Bimshire”

Letters to the Editor

MSBM Review invites your views on any issue of interest to you. Submissions must include your name and email address and should be kept to 300 words or less. We may use letters in either the Print or Web edition of the Magazine.

Blogs

September 30, 2016

Of the five priority Action Areas emerging from the deliberations at the successful IODC 2015 in Ottawa, Canada (i.e., The Charter, Standards, Capacity Building, Measurement, Innovation), the latter—Innovation, otherwise described as the “Problem-Solving” Action Track — is perhaps, the most eclectic and least structured of the areas.

September 15, 2015

No matter what source you subscribe to, the numbers are staggering, when one considers the potential economic value of open data. The McKinsey Global Institute estimates approximately US$3 trillion value potential across 7 domains. The Warsar Institute for Economic Studies projects a contribution of €205 billion annually to the European Union. An Omidyar Network study suggests open data impact for the G20 countries could be US$2.6 trillion per annum or 1.1% of GDP. What does this mean for small developing countries like Jamaica?..

March 10, 2014

The expression "Innovation at the periphery", has become more popular in the last few years and perhaps even over-used in several contexts. It describes technological innovations in seemingly remote geographical regions. It promotes the "skunkworks" innovation that takes place within an enterprise, but outside of mainstream R&D centres. It highlights indigenous frugal innovations that emerge out of developing country contexts, whose global adoption reverse the accepted convention of North-South technology transfer.