|
Billions
through remittances
Data from the
Bank of Jamaica (BoJ) have shown that more than US$3.3 billion has
been privately transferred to Jamaica through remittance companies,
commercial banks and building societies during the past four and
a half years.
Although the
BoJ could not say what proportion of the transfers came from each
country, it is believed that the bulk of it came from the United
States, the United Kingdom and Canada, which has the largest concentration
of Jamaicans in the diaspora.
The central
bank's data also revealed that there has been a gradual increase
in private transfers, which reached US$814.1 million last year,
about 13 per cent higher that the US$709.3 million recorded in 1999.
In 1998, the BoJ said, the figure stood at US$683 million and in
1997, US$661.2 million. For the six months to June, this year, there
were US$465.5 million in private transfers to Jamaica.
Last year,
the Financial Gleaner reported that Jamaica topped the list
of more than 160 countries outside the domestic markets of the United
States, Mexico and Canada, to which Western Union transfers money.
Although remittance
companies are usually reluctant to disclose the total amount of
money remitted through their individual services in any given year,
it is believed that more than a million transactions are done annually
by Western Union.
Grace Kennedy
Remittance Services, which operates Western Union, is the largest
such service in Jamaica, accounting for 95 per cent of the market
share of inflows through remittance companies in 1998, and 40 per
cent of the total market, according to prior information supplied
by the BoJ.
Apart from
Western Union, the central bank obtains figures on private transfers
from Remittance Express, Quick Cash, Jamaica Air Express, Rapid
Remittance, and Capital & Credit Merchant Bank. GKRS also handles
outbound money transfers as well as intra-island money transfers.
AMERICAN COMPANIES,
SUBSIDIARIES AND AFFILIATES
JAMAICAN
FIRM US FIRM ACTIVITY
| A.B. Kidswear
|
American
Baby |
Manufacturers
of children's apparel |
| Alkali
Group of Companies |
International
Salt Company |
Manufacturers
of salt, chemicals |
|
|
and leather |
| Alumina
Partners of Ja. |
Kaiser
Alumina & Chemical Corp |
Mining |
| American
Airlines |
American
Airlines, Inc. |
Airline |
| American
Express International |
American
Express International |
Travel
Services |
| American
Home Assurance Co. |
American
International Group Inc. |
Insurance |
| Antilles
Chemical Company |
Antilles
Chemicals (sub. of Steele Partners) |
Manufacturers
of fertilizers |
| Bike Athletic
Ltd. |
Bike Athletic
Ltd. |
Manufacturers
of athletic sportswear |
| Blue Cross
Shield of Jamaica |
Blue Cross
Shield Association |
Health
insurance |
| Bob's Candies
Inc. |
Bob's Candies
Inc. |
Confectionery |
| Boyken/Mortimer
International |
Boyken
International |
Project
management |
| Budget
rent-A-Car |
Budget-Rent-A-Car
|
Car rental |
| Caddy master
Enterprise |
Caddy Master
Enterprise |
Golfing |
| Caribbean
Bottlers Jamaica (Coca Cola) |
The Coca-Cola
Company |
Beverages |
| Cetco Water
Laboratories |
Mitco Water
Labs, Inc. |
Water treatment
& chemicals equip. |
| Citibank,
N.A. |
Citibank,
N.A. |
Banking |
| Colgate
Palmolive (Ja.) Ltd. |
Colgate
Palmolive |
Manufacturers
and dis.of toileteries |
| Custom
Marble and Design |
Custom
Marble Design |
Synthetic
sanitaryware made from limestone |
| D.D. Bean
& Sons |
D.D. Bean
& Sons |
Manufacturers
of matches |
| Data Key
Processors Ja. Ltd. |
International
Computer Services, Inc. |
Key
punchcard systems |
| DHL Jamaica
Ltd. |
DHL (USA)
Ltd. |
Couriers |
| Diversey-Lever
Jamaica |
Diversey-Wyandotte
Corp. |
Industrial
detergents and sanitation |
|
chemicals |
| Econocaribe
Consolidators (Ja.) |
Econocaribe,
Inc. |
Freight
handlers |
| Esso Standard
Oil S.A. Ltd. |
Exxon-Mobile
Inter-American, Inc. |
Marketers
of petroleum products |
| Fabcon
(Caribbean) Ltd. |
Fabcon
International |
Manufacturers
of water treatment |
|
chemicals |
| Fargo Electronics
Jamaica Ltd. |
Fargo Electronics,
Inc. |
Manufacturers
of electronic equipment |
| Gillette
Caribbean |
Gillette
Corporation |
Manufacturers
of shaving products |
| Glaxosmithkline
Beecham Int'l |
Smithkline
Beecham Int'l |
Distributors
of pharmaceuticals |
| Goodyear
Jamaica Ltd. |
Goodyear
Tyre and Rubber Company |
Manufacturers
of tyres |
| Grains
Jamaica Ltd. |
Independent
|
Farming
and rice milling |
| Hilton
Kingston Hotel |
Hilton
International Co. |
Hoteliers |
| Hofmann
and Leavy Jamaica Ltd. |
Hoffman
and Leavy, Inc. |
Garment
manufacturers |
| Holiday
Inn Sunspree Resort |
Holiday
Inn Worldwide Bass Hotel & Resort |
Hoteliers |
| IBM
World Trade Corp. |
IBM World
Trade Corp. |
Distributors
of business machines |
| IGL Limited
|
Enron Corporation
|
Manufacturer
of petroleum products |
| Jamaica
Bow Company Ltd. |
Independent
|
Greeting
cards & ribbons/bow |
|
for garments |
| Jamaica
Digiport International Ltd. |
ATT (minority
interest) |
Communications
and data processing |
| Jamaica
Energy Partners |
Consortium
|
Providers
of energy |
| Jamaica
Flour Mills Ltd. |
Sold by
Pillsbury, bought by ADM Milling |
Flour
mill/aquaculture/agriculture |
| Jamaica
Needlecraft Ltd. |
Maindenform,
Inc. |
Garment
manufacturer |
| Jamaica
Pre-Mix Ltd. |
Ledhgill
|
Manufacturers
of concrete |
| Jamaica
Private Power Company |
US/European
consortium |
Providers
of energy |
| Jamalco
|
Aluminium
Company of Jamaica |
Mining |
| Jickey
International Jamaica Ltd. |
Jockey
International, Inc. |
Garment
manufacturer |
| Johnson
& Johnson |
Johnson
& Johnson International |
Dis.of
toileteries & over-the- |
|
counter
drugs |
| Kaiser
Bauxite Company |
Kaiser
Alumina & Chemicals |
Bauxite
mining and shipping |
| KPMG Peat
Marwick |
Peat Marwick
Mitchell |
Chartered
accountants |
| Le Meridien
Jamaica Pegasus |
Le Parker
Meridien |
Hoteliers |
| Lindo,
Foote, Cone & Belding Comm. Ltd. |
Foote,
Cone & Belding Advertising, |
Marketing
and public relations |
| Maggie
Manufacturing Company |
PBS, Inc.
|
Garment
manufacturing |
| Media Track,
Inc. |
Media track,
Inc. |
Data entry |
| McCann
Erikson Jamaica Ltd. |
Interpublic
Group of Companies |
Advertising |
| McDonalds
of Jamaica |
McDonalds
|
Food
franchise |
| Mead Johnson
|
Bristol
Myers Squibb Company |
Procurement/marketing/advertising
& |
|
distributor
for H.D. Hopwood |
| Microsoft
Jamaica, Inc. |
Microsoft
Corporation |
Computer
industry |
| Nabisco
Jamaica Ltd. |
Nabisco
International |
Manufacturer
& distributor of yeast |
|
and
baking products |
National Processing Corporation Data
processing
| Northwest
Airlines, Inc. |
Northwest
Airlines, Inc. |
Airline |
| Pepsi-Cola
Jamaica Bottling Co. Ltd. |
Pepsi
Americas |
Soda
and bottling |
| Pizza
Hut |
Pizza
Hut |
Food
franchise |
| Renaissance
Jamaica Grande Resort |
Renaissance
Int'l Hotels & Resorts |
Hoteliers |
| Restaurant
Associates Ltd. |
Burger
King International |
Food
franchise |
| Restaurants
of Jamaica |
Kentucky
Fried Chicken |
Food
franchise |
| Ritz
Carlton Rose Hall Jamaica |
Ritz
Carlton Rose Hall |
Hoteliers |
| Rose
Hall Developments Ltd. |
Rollins
Leasing Company |
Hotel
and land developers |
| Sea-Land
Service, Inc. |
Sea-Land
Service, Inc. |
Containerised
shipping and trans- |
|
shipping |
| Salsa
Jamaica Ltd. (Taco Bell) |
Tricon
Restaurants Int'l |
Food
franchise |
| Sealy
Mattress Company |
Sealy
Mattress Company |
Manufacturer
of bedding furniture |
| Sherwin
Williams W.I. Ltd. |
Sherwin
Williams W.I. Ltd. |
Manufacturer
of paints and lacquers |
| Singer
Sewing Machine Company |
Singer
Company |
Distributor
of sewing machines |
| Sportswear
Producers Ltd. |
Contracted
to Hanes Products |
Manufacturers
of apparel |
| Standard
Data |
Standard
Data Prep., Inc. |
Data
entry |
| Texaco
Caribbean, Inc. |
Texaco
|
Marketers
of petroleum products |
| 3M
InterAmerica, Inc. |
3M
InterAmerica |
Distributors
of automotive, home care, |
|
|
office
supplies, medical products |
| West
Indies Nutritional Corp. Ltd. |
West
Indies Nutritional Corp. |
Blending
of animal food |
| Williamson-Dickie
Jamaica Ltd. |
Williamson-Dickie Manufacturing Co. |
Manufacturers of Denim jeans for |
|
|
assembly |
| Wyndham
Rose Hall Hotel |
Wyndham
Hotel & Resorts |
Hoteliers |
| Xerox
Jamaica Ltd. |
Xerox
Corporation |
Distributors
of office supplies and equipment |
|
|
|
|
|