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

The Jamaica Observer will be hosting another in its series of webinars on Tuesday, January 26, 2021 featuring five renowned experts who will cover different aspects of business and finance heading into the new year. The topic of the webinar is 'Charting Your Financial Course'.

This past week was an ex citing one for many. While we waited on the inauguration of the 46th president of the United States, we also nervously prayed that there would be no violence.

The Bank of The Bahamas (BOB) saw a turnaround in its profits during the first quarter of its new fiscal year by more than US$2 million, an improvement after losing US$7.4 million at the close of its last fiscal year, which ended on September 30, 2020, due to loan loss provisions caused by the novel coronavirus pandemic.

The world has grown tired of the unprecedented 'new normal' imposed on the globe as a result of the novel coronavirus pandemic and, coupled with the typical challenges of life, it continues to be a raging fire at the heels of entire industries and economies. The grain commodities market is a classic example, with drastic thrusts being predicted by market analysts.

THE latest Bank of Jamaica (BOJ) data show a continuous rise in Jamaica's net remittances.The data for October 2020, which was released last week, showed that net remittance inflows for the month accumulated to US$252.2 million, which was an increase of 36.9 per cent or US$67.9 million relative to October 2019. This increase emanated from a jump in gross remittance inflows of 33.1 per cent or US$67.6 million.

Dear Claudienne: I am experiencing a very pressing matter that is seriously affecting my mental state.Over 16 years ago I was offered a credit card from NCB. Even though I was not too keen on it, the representative convinced me and I eventually relented. I remember using the card on maybe two or three occasions, and I ensured that the balances were cleared.

The Jamaica Customs Agency (JCA) says for the five year period commencing January 1, 2016 to December 31, 2020, the total value of exported goods declared was US$15.1 billion.Of this amount, bank and currency notes accounted for 53 per cent, bauxite accounted for 27 per cent, petroleum products accounted for 4 per cent, and all other commodities (merchandise exports) accounted for 16 per cent.

Twelve young, promising local professionals and entrepreneurs have been selected to be mentored by some of Jamaica's leading business and industry leaders through the Digicel/Jamaica Manufacturers and Exporters (JMEA) Business Mentorship Programme.The programme is designed to help selectees receive guidance, gain new perspectives and insights into how to drive innovation and growth within their fields of business.

International Game Technology (IGT) has signed a seven-year contract extension with Supreme Ventures Limited (SVL) to continue providing lottery technology, content, and ongoing services and support in Jamaica.

AS most sectors of the local economy continue to feel the impact of the disruption triggered by the coronavirus pandemic, prospective homebuyers may be apprehensive.Notwithstanding the uncertainties, taking the leap towards homeownership should not be deferred. That's according to at least two real estate experts and a representative of a leading mortgage lender, who all say the market indicators for real estate in Jamaica remain favourable.

From Harvard Business Review

Three ways to capture the data that matters.
Helping your teams work better together starts with understanding the forces that divide them.
One executive order cost the American economy $100 billion, according to a new study.
A research-based approach to building a positive outlook.

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.