Financial

Jamaican’s in Cayman Send Home The Most Money

A remittance report from the Cayman Islands Monetary Authority shows that Jamaicans have sent home more money than any other group of foreign workers in the territory. Over the last three years, just under US$439-million was sent from Cayman through money transfers. Jamaica received the largest amount in 2013 – more than US$111 million. The Philippines trailed behind with US$21-million, ...

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The Pound Sterling Falls To a 10 Month Low

The pound sterling has fallen to its lowest level in ten months amid uncertainty about Scotland’s future within the UK. The currency fell 1.3% against the US dollar yesterday to US$1.61. It also fell 1% against the euro. It has also fallen against the Jamaican dollar moving down from J$197.67 to one pound on July 22 to J$182.27 when the ...

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Facebook is Now Worth us$200 Billion

Facebook’s valuation passed the us$200 billion mark for the first time today. The company’s stock closed at us$77.6, a new all-time high, giving it a market capitalization of us$200.26 billion, according to Google Finance. The social network has consistently impressed Wall Street analysts in its quarterly earnings reports over the last year thanks to robust growth in mobile usage and ...

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Jamaica Sugar Exports Up, Coffee Exports Down

Jamaica has been exporting more sugar this year. Data from the Statistical Institute of Jamaica, Statin, show exports in the first five months of the year were valued at US$44m. That was up 11% from a year ago. In the meantime, coffee exports have dipped. Trade data show coffee exports were valued at US$7.4m between January and May. That was ...

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World Bank To Give Jamaica us$105m in Loans

Jamaica is to receive US$105m (ja$11.8 Billion) in loans following the signing of three agreements between the Government and the World Bank yesterday. They were signed at the World Bank in Washington, D.C by Finance Minister Dr. Peter Phillips and the institution’s Country Director Sophia Sirtaine. The loans will fund three government projects – the Foundation for Competitiveness and Growth, ...

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Palace Amusement Reports a Big Loss in Sales

Cinema operator Palace Amusement Company has made a loss of $12.2 million for the year ending June 30, 2014, a near 188% fall-off from the previous year, amid falling sales and rising administrative expenses. Palace made net profit of $13.95 million in 2013. Earnings per share (EPS) was negative $8.41 for the 2014 financial year, compared to a positive EPS ...

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Jamaica To Recieve eu$46m in Bilateral Assistance

Jamaica is to receive $46 million Euros (ja$6.7 Billion) in bilateral assistance to fund climate change, environmental and rule of law programmes. The funds are being made available through the National Indicative Programme (NIP) under the 11th European Development Fund (EDF). Foreign Affairs and Foreign Trade Minister, Senator AJ Nicholson and European Union (EU) Commissioner for Development, Andris Piebalgs cosigned ...

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Car Imports To Jamaica Falls By 25%

Car imports to Jamaica fell in the first five months of the year. The Statistical Institute of Jamaica, Statin, says US$67m worth of motor cars were imported in the period. That represents a 25% dip in the value of motor car imports in the same period a year ago, when US$89m worth of cars were imported.

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