As we conclude a year marked by both favourable and challenging developments in the maritime sector, the Shipping Industry reviews key stories that influenced shipping and logistics in 2023.
Category: News
Editorial | Jamaica in the nuclear club
Nearly eight months ago, when it emerged that Jamaica was serious about adding nuclear power to its energy mix, this newspaper urged the Holness administration to initiate a robust debate on the idea.
Hot in 2023: Standout personalities in business
As we bid farewell to 2023, we spotlight a group of exceptional business leaders and entrepreneurs who have not only achieved recognition on local and international stages but have also made significant developments in their respective industries.
Dom Rep Embassy hosts inaugural Tobacco and Rum Business Forum
The Embassy of the Dominican Republic in Jamaica marked a significant milestone recently hosting the country’s first Cigar and Rum Business Forum.
Elizabeth Morgan | Christmas’ contribution to the economy
For the Church, Christmas is about salvation and the birth of Christ, but there is a business side to it. The celebrations, religious and secular, contribute to economies and are worth studying. In Bethlehem in the West Bank of Palestine this year, the usual hustle and bustle were absent as Christmas was canceled due to the war. It was not only the pilgrims who felt the loss but the business community in Bethlehem as well.
We are concerned
MEMBERS of Jamaica’s private sector say they are getting increasingly concerned that the border dispute between Guyana and Venezuela could soon start having an impact on companies that are either already doing business in Guyana or those which are only in the planning stages of going after opportunities in that market.
Increased duty-free allowance could negatively affect some businesses – Mahfood
Immediate past president of the Jamaica Manufacturers and Exporters’ Association (JMEA) John Mahfood is concerned that the announced increases in the duty-free allowance limit could have a negative ripple effect on some businesses.
Hold steady
THE Bank of Jamaica (BOJ), said it will keep its key policy rate steady at seven per cent for at least the next eight weeks, on concerns that Jamaica’s inflation could move outside of its target range of 4 per cent to 6 per cent over the next 15 months from December 2023 and March 2025 quarters.
Vet your staff properly
With the world experiencing a spike in fraudulent activities since the COVID-19 pandemic, commissioner of revenue protection in the Ministry of Finance Cranston Morgan has implored financial institutions to ensure they properly vet new staff and periodically do the same with workers who are being moved to departments that deal with sensitive information.
Call For Greater Public-Private Sector Partnership with Law Enforcement in Crime Fight
Jervis Moore, director of investigations at the Major Organised Crime and Anti-Corruption Agency (MOCA), has called for greater partnership and cooperation between the public and private sectors and law enforcement in order to step up the fight against corruption and fraud.
Signalling that fraud perpetrated against financial institutions and through lotto scamming helped to fund and arm gangs in the country, Moore also warned that corruption was a threat to democracy.