ADDRESS TO THE NATION BY PRIME MINISTER BRUCE GOLDING
Sunday, December 14, 2008
Prime Minister of Jamaica, Hon. Bruce Golding
Global Financial Crisis
My fellow Jamaicans,
As we all know, the world is going through a serious financial and economic crisis – in its extensiveness and complexity perhaps worse than anything we have ever experienced. Most of the major economies of the world are heading into recession. Some already are- like the USA, Germany, Italy and Japan. We in Jamaica are not able to escape the impact of this global crisis.
We have had to deal with global crises before:
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Keep the money here, lend to producers, Shaw urges bankers
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Submitted by publicrelations on Mon, 12/22/2008 - 13:42.Youths need to be morally empowered - Mullings
Published: Monday | December 22, 2008
Jamaica Gleaner
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Submitted by publicrelations on Mon, 12/22/2008 - 13:34.Small Business Association Welcomes Government Initiatives to Assist the Sector
KINGSTON (JIS):
Saturday, December 20, 2008
President of the Small Business Association of Jamaica, Edward Chin Mook, has lauded the measures introduced by Prime Minister, Bruce Golding, to assist the small business sector, during the current financial crisis, noting that they will make a big difference to the industry.
The initiatives, which the Prime Minister announced in his address to the nation on Sunday (Dec. 14), include a $350 million allocation by the Development Bank of Jamaica, through the Jamaica National Small Business Loans Limited, to provide funds for lending to small businesses and micro-enterprises.
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Submitted by publicrelations on Mon, 12/22/2008 - 12:31.Cabinet Approves Amendments to Trade Act
KINGSTON (JIS):
Friday, December 19, 2008
Cabinet has approved an amendment to the Trade Act, which will allow for fines up to $2 million and a maximum of two years in prison, for persons found in possession of, or attempting to export stolen scrap metal.
Also, the fines for disclosure of confidential information under the Act, are to be updated to a maximum of one million dollars, said Minister of Industry, Investment and Commerce, Karl Samuda, at a press briefing held recently at his office in New Kingston.
Mr. Samuda had proposed in July that persons found in possession of, or attempting to export stolen scrap metal, should be fined $2 million, up from the existing $3,000.
He said that the increase in the fine will act as a deterrent to persons planning to break the law. "It is that level of punitive measure that is going to be introduced into the mix, that we hope will be a serious deterrent to anyone thinking of trying to break the law," Mr. Samuda stated.
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Submitted by publicrelations on Fri, 12/19/2008 - 11:44.Jamaica Receives US$90 Million From IDB
KINGSTON,(JIS):
Thursday, December 18, 2008
Jamaica, earlier today (December 18), received US$90 million of the recently agreed US$101 million loan package from the Inter-American Development Bank (IDB).
The major loan agreement covering three loans, was signed by Minister of Finance and the Public Service, Audley Shaw, and the Executive Vice President of the IDB, Daniel Zelikow, in Washington, United States, on December 5, 2008.
In a statement released through the Jamaica Information Service (JIS), the Minister noted that the loans reflected the refocused strategy of the Government, as it seeks to source less expensive loans to meet its budgetary requirements, as well as to gradually reduce dependence on expensive loans from the international capital markets.
The Minister's statement also pointed out that earlier this week, the Finance Ministry completed negotiations with the IDB regarding the US$300 million Liquidity Programme for Growth Sustainability.
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Submitted by publicrelations on Fri, 12/19/2008 - 11:16.Gov't makes $94.8m from auto auction
Published: Friday | December 19, 2008
Jamaica Gleaner
The Jamaica Customs Department received a total of $94.8 million for 90 motor vehicles which were auctioned earlier this month.
Some 188 motor vehicles, that were not claimed for by importers, had been advertised to be auctioned.
However, of the 188 vehicles, 90 had to be withdrawn from the auction because the importers paid up their duties. The remaining eight motor vehicles received no bids.
The vehicles were auctioned over a two-day period at the Queen's Warehouse, 230 Spanish Town Road, St Andrew.
In an earlier interview with The Gleaner, Lorna Rhoden, collector of customs, said more than 1,000 undeclared vehicles at the wharves had contributed to the massive jump in the current batch of automobiles up for auction. In March, approximately 105 vehicles went up for auction.
JTI Chairman Urges Prudence in Business Sector
KINGSTON (JIS):
Thursday, December 18, 2008
Courtesy of Jamaica Information Service
Chairman of Jamaica Trade and Invest (JTI), Raymond Miles, Jnr., has called on stakeholders in the business sector to be proactive and exercise prudence in order to negotiate the current global economic downturn.
"In these difficult times of... restrictions... we have to be proactive and prudent in our business strategies, and that will help our respective sectors to not only survive, but plan for the future," Mr. Miles stated, as he addressed the official opening of JTI's Export Centre and Business Information Point (EC/BIP) at the agency's New Kingston offices on Tuesday (Dec. 16).
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Submitted by publicrelations on Thu, 12/18/2008 - 12:21.$1.1 Billion Withdrawn from Capital Development Fund to Support Budget
KINGSTON (JIS):
Thursday, December 18, 2008
The House of Representatives yesterday (Dec.16), approved the withdrawal of $1.1 billion from the Capital Development Fund (CDF), to be paid into the Consolidated Fund, to provide budgetary support for the 2008/09 financial year.
Minister of Finance and the Public Service, Audley Shaw, who moved the resolution, said this latest withdrawal represents the third for the fiscal year.
He told the Lower House that the bauxite industry was being challenged by the decline in international demand for alumina.
"The truth is that part of the global financial meltdown, has been the aggressive decline in the motor vehicle construction as well as housing construction industries, and those are the two industries that are the greatest users of the end product aluminium," he pointed out.
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