Dennise Williams, Staff Reporter
Gary Peart (left, front row), Mayberry Investments chief executive officer; Erwin Angus, managing director, and Mrs. Mark Berry, wife of the company's deputy chairman commemorate the company's 20th anniversary earlier this month along with Christopher Berry (second row) the Mayberry chairman. The service was held at the Webster Memorial United Church in St. Andrew. - CONTRIBUTED
IT IS now official - National Commercial Bank, through its insurance arm has purchased 75 per cent of Blue Cross.
The bank informed the Financial Gleaner that this morning they will hold a press conference at the Hilton Hotel to discuss the details of the transaction.
Previously, The Gleaner had reported that negotiations were underway for the takeover. The bank can now begin to leverage the Blue Cross brand and existing infrastructure to position itself in the health insurance sector in an aggressive manner.
Indeed, financial services executives have stated on many occasions that insurance is the cornerstone to building a business in that sector. One financial analyst pointed out that, "Blue Cross could enhance NCB's OMNI product and give a possible route to a new package of tax free investments plus group life insurance."
Indeed, in 2004 while NCB Insurance Company contributed approximately five per cent to the group's bottom line, their main competitor, ScotiaMINT contributes approximately 14 per cent to Bank of Nova Scotia's bottom line.
JCS BIZTECH Forum 2005 opens today
Customer service can play a key part in helping organisations improve their bottom line, even in the face of tighter economic conditions. Customer service employees, therefore, require access to applications and information in a 'just-in-time' manner, even as customers are provided with parallel access if organisations are dedicated to improving their return on investment.
According to Jamie Houston of IBM Canada, a reliable customer Service portal can help to provide relief by putting in place an infrastructure that can be built upon to help drive revenue improvement and savings opportunities. Houston will be one of 22 experts in various aspects of the Information and Communications Technologies sector in the U.S., Canada, the U.K., Asia and Jamaica who will be at the Jamaica Computer Society's BIZTECH Forum from October 28 to 29, at the Ritz Carlton Hotel and will be introducing technical personnel and a range of end users to the latest technologies that can deliver a superior level of customer service that many in both the public and private sector are seeking to help improve their bottom line.
Digicel slashes roaming rates
In another bold step, telecommunications giant Digicel today announced that effective November 1, its roaming rates will be the lowest ever in Jamaica. This is yet another first for Digicel, which is the only telecommunications company in Jamaica to offer prepaid roaming to the U.K. and the Caribbean. Digicel also has the distinction of being the first telecom provider in Jamaica to offer GPRS roaming to the U.K., U.S. and Ireland.
In an effort to lower costs to Jamaicans travelling overseas, Digicel has significantly reduced its roaming rates for post-paid customers as of November 1. The new rates are as low as 29 U.S. cents (29 U.S. cents) per minute.
To make a call from any destination in the Caribbean on the Digicel Network is now only 29 U.S cents per minute. The roaming rates from the U.S. and throughout the rest of the world are now as low as US$0.79 cents per minute.
Harry Smith, Digicel's commercial director explains that the low rates in the U.S. are as a result of Digicel's new strategic relationship with Cingular. "Our current involvement with Cingular has enabled us to offer these incredible rates," said Mr. Smith. "Our roaming product is the best in the island; we have over 200 roaming partners in over 100 countries, enabling our customers in almost every destination they choose."
JMA on trade mission to Canada
The Jamaica Manufacturers' Association Limited (JMA) in its continued thrust to promote 'Brand Jamaica' in the international marketplace will be taking a delegation of approximately sixteen persons representing eleven companies to the Canada Manufacturers and Exporters (CME) Annual Business Conference and Trade Show which will be held from Sunday, October 30 to Tuesday, November 1, 2005, at the Sheraton Centre, Toronto, Ontario, Canada.
The companies participating include V.A.P. Limited, Caribbean Flavours and Fragrances Ltd., Agriventures Jamaica Ltd., Latin American Exporters, Crimson Dawn Manufacturing, A Touch of Art, Alpha Arts, Cultural Arts, Uyi Bamboo Art and P.A. Benjamin Manufacturing Co. Ltd. The JMA will be representing Barco Caribbean Ltd., Seprod Limited, Bridget Sandals, Honey Bun Ltd., Chas E. Ramson and Falcon Marketing. The companies will be showcasing products such as processed foods, non-alcoholic beverages, baked products, cigar, art and craft, textile, chemicals, cosmetics and footwear.
The JMA will also be hosting a round table session on investment opportunities in Jamaica.
The National Commercial Bank Jamaica Ltd., Jamaica Public Service Company Ltd. and the Private Sector Development Project (PSDP) are providing some level of sponsorship for this mission.
The delegation will depart on October 28 and return on November 2, 2005.
Goddard appoints new CEO
The board of directors of the Barbados-based Goddard Enterprises Limited (GEL) today announced a number of executive management changes including the appointment of a new chief executive officer for the group.
The CEO designate is Martin Prichard who currently holds the position of group director of Finance and will take up the CEO position effective February 1, 2006. He will succeed Joseph Goddard, the group managing director and chief executive officer who retires from that post January 31, 2006.
Joseph Goddard will, at that time, move into the position of chairman of the group as the present chairman, Colin Goddard will be retiring from that post following the next annual general meeting scheduled for January 31, 2006.
