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JAMAICA BUSINESS NEWS: February 28th – March 6th, 2015

JAMAICAN PLANS TO IMPORT GOAT EMBRYOS—03/03/15
The importation of 200 goat embryos is scheduled for Jamaica in the next fiscal year. The goat embryos represent part of a program designed to improve the breeding stock of these animals on the island. Over $56.6 million has been provided in the Estimates of Expenditure policy to complete the procurement of the goat embryos for advanced breeding techniques, including embryo transfer and artificial insemination. The government will also import 109 goats for local breeding purposes.

CHRIS GAYLE OWNS BAR IN JAMAICA—03/04/15
Cricketeer Chris Gayle owns a bar in Jamaica named “Triple Century.” However, an employee at the bar said workers there missed their patron’s double-hundred, which was the first in World Cup history, because it was too late in Jamaica and the bar was closed. The morning after Gayle’s achievement, the bar introduced a new price on Jamaican beers: 215 Jamaican dollars. The sports bar and restaurant opened in 2013 and has since become popular with people in Kingston who appreciate the many televisions showing five matches at a time.

DIGICEL, LIME PREPARE TO INTRODUCE NUMBER PORTABILITY—03/05/15
LIME and Digicel, the top telecommunications providers in the Caribbean, are moving toward the implementation of a plan for number portability. According to LIME, it is necessary to coordinate the plan with technology suppliers and other stakeholders so that all will be ready to meet the same implementation date. The Number Portability Working Group continues to finalize some issues. Digicel will ensure that customers are not inconvenienced during the implementation.

IMF DEADLINE EXTENDED—03/06/15
Dr. Pete Phillips, Jamaica’s Minister of Finance and Planning, confirmed that the international Monetary Fund (IMF) has agreed to an extension of the date by which public sector salaries are to be reduce by nine percent of the Gross Domestic Product (GDP). This is likely to make it easier to find common ground with trade unions by the end of March 2015. The extension gives the government time to negotiate with the trade unions and some professional organizations that want a pay raise over the next two years.

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Staff Writer
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Written by Staff Writer