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Richie Stephens at jazz and blues 2015
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Jamaica’s Consumer Affairs Commission (CAC) recently completed a survey which confirmed that savers are earning very little interest on their deposits.
The survey focused on three banks – NCB, BNS and First Caribbean and the information involves interest on savings, withdrawal fees, dormant fees and fees paid for not keeping a minimum balance.
NCB
At NCB, to start earning any money on your savings, you will have to be saving at least $50,000. Below that amount the bank does not pay interest on customer savings. But between $50,000 and $199,999, it pays only 0.15% interest per year. That means someone saving $199,999 at NCB will earn under $300 per year on that money.
If you save between $200,000 and $249,999 at NCB, you will earn 0.3% in interest. At that rate a person who saves the top end – $249,999 – earns under $750 per year in interest.
You could earn more by saving more, but not much more interest. NCB pays 0.5% to customers who have between $250,000 and $499,999 in a savings account, while $500,000 to $999,999 attracts interest of 0.6%.
One-point-five per cent is paid on savings of $1m to $4, 999,999.That means if you save one dollar less than $5m with NCB, you will receive just under $75,000 per year on that money. NCB pays 1.75 per cent on savings of over $5M.
BNS
at BNS, the interest earned on savings come in lower at all levels, although the bank pays interest on a lower balance than NCB – that’s above $5,000.
If you save $5,000 to $199,999 at BNS, that bank pays you interest of 0.1% or about $199.99. Between $200,000 and $499,999, interest is paid at 0.35%, which means a dollar less than $500,000 will earn the saver less than $1,750 each year.
For all other amounts saved at BNS, the bank pays only 0.5% interest. That means that if you save $5m at BNS, you will earn $25,000 per year on that money, which is much less than the $87,500 you would earn on the same savings at NCB.
First Caribbean
At First Caribbean, interest is paid on savings of as little as $2,000. It pays more interest on each level of savings than BNS and NCB. For example, while NCB and BNS pay 0.15% and 0.10% on savings of $50,000, First Caribbean pays 0.25% on that amount.
Those interest payments mean that, at NCB, on $50,000, the consumer would earn $75 per year, while at BNS the earning is $75 and at First Caribbean it is $125. And while NCB and BNS pay 1.75% and 0.5% on $10 m, First Caribbean pays 4% interest on that money.
That means, on $10m, a NCB customer would earn $175,000, a BNS customer would earn $50,000 and a First Caribbean customer would earn $400,000.
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Sunday, February 02, 2014 | 11:09 AM
Curtains came down on the 2014 staging of Jazz &Blues Festival on a rainy Sunday morning at the Trelawny Multi-purpose stadium ending three nights of top-class performances.
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Sunday, February 02, 2014 | 9:12 AM
TRELAWNY, Jamaica — Thousands braved the rains to listen to Jamaican crooner Beres Hammond as he brought the curtain down Sunday morning on the 2014 Jamaica Jazz and Blues Festival.
And the strong, persistent downpour, which threatened to wash out night 3, could not put a damper on the scintillating performance of the well-loved Beres.
Hammond took to the stage at 2:00 am and launched into his deep catalogue of hits that had patrons partying on the wet Trelawny stadium infield.
His set, peppered with such hits as ‘I feel Good’, ‘One step Ahead’, ‘No Disturb Sign’, ;Rockaway’, ‘Step Aside’ and ‘Tempted to Touch’ all had patrons dancing in the rain as they listened to the reggae singer.
The seasoned artiste who entered the stage after the O’Jays, whose act ended just before the heavy downpour, seemed incapable of doing anything wrong.
Enjoying the moment, Hammond satiated the musical appetite of his strong following, many who hadn’t seen him perform live in quite a while.
He would close his set at 3:20 am after well over an hour on stage.
Richard Johnson and Horace Hines
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Saturday, February 01, 2014 | 12:04 AM
TRELAWNY, Jamaica — Chrisette Michele on night 2 charmed her Jamaican audience with a captivating, soulful performance at the Jamaica Jazz and Blues festival now underway at the Trelawny Multi-purpose Stadium.
With her soaring vocals she thrilled her local fans and earned new followers with her set which lasted close to an hour.
From her opening ‘Wha a gwaan Jamaica? (she has Jamaican family members) to her finals notes, the 25-year old American singer/songwriter was a pleasure to watch and hear and she moved through her impressive catalogue.
The Grammy award-winning artiste dropped ‘Epiphany’, ‘Charades’, ‘S on My Chest’,’ I’ll Be Ok’ and ‘Better’, but stepped it up with her rendition of the gospel classic ‘Source of My Life’.
And patrons screamed as she lifted her voice to hold high, ear-piercing notes in ‘Amen’.
Joe and Toni Braxton are still to perform on night two of the festival.
Richard Johnson and Horace Hines
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Saturday, February 01, 2014 | 11:48 PM
TRELAWNY, Jamaica — After being one of the night’s opening acts, past Digicel Rising Stars winners One Third returned to the main stage at the Jamaica Jazz and Blues Festival Saturday to support Grammy-winning artiste Bobby Kimball.
Kimball, former lead singer for the group Toto, performed some of the band’s hits from the 1980s including ‘Rosanna’ and ‘Georgy Porgy’.
With One Third in tow, Kimball also performed ‘Africa’, a track One Third did during their run on the local televised talent show.
Richard Johnson
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Saturday, February 01, 2014 | 9:22 PM
TRELAWNY, Jamaica – Veteran country and western crooner Crystal Gayle took Jazz & Blues patrons down memory lane on night 3 of the music festival Saturday at the Trelawny Multi-purpose stadium.
During her lively performance, the seasoned artiste, who disclosed that this is her first trip to Jamaica, had her local fans singing word-for-word to all time favourites such as ‘Talking In Your Sleep’, ‘Long and lasting Love’,‘Those were the Days’ and ‘Don’t It Make My Brown Eyes Blue’.
The country/pop star sporting her trade-mark nearly floor-length hair, interacted freely with her appreciative audience throughout her entertaining set.
Other artistes billed for Saturday’s final night are O Jays, Aaron Neville, Beres Hammond and Chaka Khan.
Horace Hines
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Saturday, February 01, 2014 | 10:53 PM
At the end of his performance on night 3 Saturday it was a standing ovation for the artiste who delivered all his expected favourites and more.
‘Everyone Plays the Fool’, ‘Don’t Know Much’ and ‘Don’t Go’ were among the top tracks dropped on loyal fans, some responding with wild screams.
Neville hooked the audience immediately after he was introduced onstage, with a medley including the Drifters’ Stand by Me, and Sam Cooke’s ‘Cupid’ and ‘Chain Gang’.
But Neville did not stick to one genre of music and evoked frantic screams as he ventured into reggae music with renditions of Bob Marley’s ‘Three little Birds’ and ‘Stir it Up’.
He was equally impressive delivering gospel selections including, ‘Study War No More’, ‘Lay down my Burden’, ‘When the Saint s Go Marching’, and ‘Amazing Grace’.
Other artistes left to perform on Saturday’s final night are O Jays, Beres Hammond and Chaka Khan.
Richard Johnson and Horace Hines
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WHAT’S the song on everyone’s lips this summer?
That’s the question being asked in music circles as the search for that dance sizzler continues.In previous years, artistes have timed the release of singles with the summer holidays. Some become club-bangers, earning artistes spots on the major stage shows.Last year, the airwaves and parties were ruled by deejay Tommy Lee’s Psycho. With his Uncle Demon persona he was a headliner at Reggae Sumfest.The same could be said for singjay Richie Loop in 2010. His single My Cupp was the talk of the town and gave him a prime spot on that show.By 2011, it was time for Vybz Kartel whose Summer Time was the song for the season.This year, however, is a different story.For radio disc jockey Jerry ‘Jerry D’ Davey, the absence of a summer hit points to a downturn in local music.“This is a reflection of where our music is at this time,” he states. “Although the absence of a truly popular song for the summer holidays is not the only barometer, it is an indication that reggae and dancehall music needs a fillip at this time,” he adds.This fillip, Jerry D believes, has to come in the form of improved lyrics.“Our artistes continue to focus on certain topics which do not make them popular with the wider market,” says Jerry D, pointing to the recent reggae and dancehall segment at the BET Awards in Los Angeles. He notes that the artistes who performed on the show — Dawn Penn, Chaka Demus & Pliers, Beenie Man and Elephant Man — do not have current hits.Fellow radio jock and sound system selector Collin Hines says there is no singular reason for the absence of a summer hit.“We probably have something to do with it, perhaps the fact that songs are not being played out on radio due to the sheer volume. It is possible that this does not allow for a song to take root in the minds of listeners. Artistes are possibly not timing their releases towards this time of year anymore,” Hines reasons.A possible summer smash for him is Unruly Rave by deejay Popcaan. Hines says it is creating a buzz on radio and in the streets.“Perhaps our expectations are just too high as there are other artistes such as Chronixx and Konshens who are making a name for themselves with current hits, but not to the level we have become accustomed,” Hines states.Music insider and cultural commentator Clyde McKenzie is also puzzled about the absence of a mega hit song.“I’m still trying to figure it out. Is it that there is so much stuff from overseas dominating the local airwaves and parties that there has been a homogenisation of the music that the summer song can come from anywhere?” he questions. “There is nothing earth-shaking coming from our music at this time,” says McKenzie.(L-R)HINES… no singular reason for the absence of a summer hit. MCKENZIE… nothing earth-shaking coming from our music. JERRY D… reggae and dancehall music needs a fillipView the original article here