Tag: economic

BUSINESS

China Sees Economic Recovery

China’s economy is bouncing back and is described as a “V-shaped recovery,” — a quick and sustained recovery in measures of economic performance after a sharp economic decline. The world’s second-largest economy performed much better than analysts expected as reports show a rapid turnaround in the second quarter as coronavirus lockdowns were eased, allowing factories, shops, and restaurants to resume […]

NEWS

IMF Warns

The head of the International Monetary Fund (IMF) has warned that the coronavirus pandemic will turn global economic growth “sharply negative” this year. Kristalina Georgieva said the world faced the worst economic crisis since the Great Depression of the 1930s. She forecast that 2021 would only see a partial recovery. Lockdowns imposed by governments have forced many companies to close […]

BUSINESS

Starbucks Outlets On Lock Down In China

Starbucks has closed half of its outlets in China to protect its staff and support government efforts to contain the coronavirus. The coffee shop chain warned that the rapidly expanding infection is likely to affect its financial performance. Starbucks has almost 4,300 outlets in China, making it the company’s largest market outside the U.S. Chinese sales account for about 10% […]

Jamaica

Lee-Chin — Government Paying Lip Service To Divestment

Michael Lee-Chin, Chairman of the Economic Growth Council, (EGC) is unhappy with the government slow approach to divesting its under-performing assets. He said the reluctance is causing lower than expected economic growth. The EGC was set up to advise the government on a framework of proposed initiatives along with sub-initiatives that are expected to yield five percent growth by 2020. […]

BUSINESS

Oil Prices Set To Move Downwards

Faced with a buildup of high inventories and global economic slowdown, oil prices are set for their biggest weekly drop for this year. Brent crude rose 12 cents to $67.88 a barrel, but the global benchmark remained on course for a weekly decline of about six percent. U.S. West Texas Intermediate crude was unchanged at $57.91 a barrel. The benchmark […]

Jamaica

PNP Leader Gives JLP Government Props

Opposition Leader, Dr. Peter Phillips, has commended the JLP led Administration for maintaining the fundamental aspects of the Economic Reform Program which he said was put in place by the former PNP government. He noted that the Economic Reform Program, which started in 2013 has resulted in debt reduction, job creation, economic growth, and increased revenues. Dr. Phillips was making […]

Jamaica

Jamaica’s PM Points To Challenges At The Macro-Economic Level

Jamaica’s Prime Minister, Andrew Holness, while speaking at the official launch of the Essex Valley Agriculture Project, held at the Lititz Primary School in St. Elizabeth, has appealed for a more collaborative approach to improve the country’s macro-economic standing. He posited the view that given Jamaica’s robust macro-economic indicators a united approach should see the country attaining an economic growth […]

Jamaica

Jamaica’s P. M. Not Impressed

Prime Minister Andrew Holness says he is not impressed with the latest growth figures. In 2016, Mr. Holness, and the Economic Growth Council (EGC) had set initiatives to put Jamaica on a path of higher and sustained growth that was said at the time would benefit the poor and vulnerable. The declaration of intent back then was for a five […]

COMMENTARY

Are You Better Off Today Than You Were Four Years Ago?

Them belly full but we hungry A hungry mob is an angry mob A rain a-fall but the dirt, it tough A pot a-cook but the food no ‘nough — Bob Marley Karl Marx defines the working class as individuals who sell their labor for wages and who do not own the means of production. This, of course, includes both […]

NEWS

IMF — Jamaican Government Could Lose Public Support

The Board of the International Monetary Fund (IMF) has warned that the Jamaican Government could lose public support for its economic program if steps are not taken to address the economic and social malaise within the country. In its recent review of Jamaica’s performance under the Stand-by Agreement, the agency noted that the government met all quantitative performance criteria and […]