GCT pushes up insurance premiums
INSURANCE COMPANIES have told Government that the imposition of the General Consumption Tax (GCT) on life insurance premiums was ill-advised, arguing that it was a long-term investment option, and not in keeping with the principle of the tax.
Local players shoulder tourism expansion
JAMAICA HAS secured no new major hotel developments within the past year, but a number of new rooms will be added to the current stock of 24,000 as various properties expand and several small operations hit the market.
Big new investment at Cement Company
THE CARIBBEAN Cement Company will be investing US$100 million at its Rockfort plant in eastern Kingston over the next three years as part of a general thrust to improve productivity and efficiency, according to general manager Anthony Haynes.
AirJ shifts executives
AIR JAMAICA implemented changes to its executive structure this week, with two new appointments to the team, as the company reshapes itself to focus on operational efficiency and ways to make more money, Wednesday Business has learned.
Moore Business Forms launches new division
MOORE BUSINESS Forms Caribbean Limited has given birth to a new division -MooreTech. The new division has been created specifically to solve the information management needs of corporations.
Davies takes on the the private sector
LAST YEAR, Finance Minister Dr. Omar Davies collected just about $103 billion in taxes, falling almost $4 billion short of his true target of $106.8 billion.
Dollar plunges
THE JAMAICAN dollar lost 58 cents in value in trading against the US currency yesterday. An average selling rate of $58.86 to the US dollar yesterday, was preceded by a rate of $58.28 on Monday and $58.01 on Friday.
Mayberry challenges share swap
THE FIRSTCARIBBEAN International Bank (FirstCaribbean) offer to swap each of its shares for 7.5 FirstCaribbean Jamaica shares is not acceptable, says Chris Berry, chairman of stockbrokers Mayberry Investments.
Anti-Internet tax changes
IN OPENING the 2003/2004 budget debate, Finance Minister Dr. Omar Davies announced that a number of items that were either zero-rated or exempt from General Consumption Tax (GCT) would, as of May 1, be included in the tax net.
Flogging dead crops
ONE THE critical needs to be addressed if the agriculture sector is to move forward is the matter of crop selection.
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