Showing posts with label Market. Show all posts
Showing posts with label Market. Show all posts

Thursday, October 2, 2014

Microsoft to tap US$2-trillion Indian cloud market

NEW DELHI, India (AFP) — Microsoft announced plans yesterday to offer its commercial cloud services from Indian data centres as it seeks to tap what it calls a US$2-trillion market in the country where Internet use is growing rapidly.

The move is part of the US tech giant’s strategy to prepare for a world in which all data is stored online in locked accounts as it attempts to keep its market edge, with desktop use declining.

Microsoft chief executive Satya Nadella said the company would set up data centres in three Indian cities by the end of 2015, describing the country’s demand for cloud services as “incredible”.

“Last year, our cloud business in India grew over by 100 per cent,” said Nadella, on his first trip to India after taking the top job at the company in February.

“Buoyed by that success, we have now decided to offer cloud services from local data centres,” he told reporters.

Microsoft, the world’s biggest software maker, is facing stiff competition for cloud customers from US giants Google and Amazon.

Cloud Internet services in India represents a US$2-trillion market opportunity, the Indian-born Nadella said.

The Microsoft chief kept mum about the amount of money that the firm will invest in India, but said “when we get started you will see the scale”.

India’s Internet use is booming as more of its 1.25-billion population buy smartphones, tablets and computers. Companies are also doing more computing in data centres.

Nadella said his company would offer its Azure and Office 365 cloud services from the new data centres.

“With more than 250 million Indians using Internet-connected devices today, there is an incredible demand and opportunity for India with Microsoft cloud services,” he said.

While Microsoft has seen its computer desktop business reduces, it sees its software as giving it market clout and the cloud has become a new revenue growth driver.

Nadella’s announcement came on the same day that the company said it intends to give an indication of “what’s next” for its Windows operating system at a US event.


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Microsoft to tap
US$2-trillion Indian
cloud market

Friday, September 26, 2014

Credit Union League enters remittance market

The Jamaica Cooperative Credit Union League, through its subsidiary, Centralised Strategic Services, will be going after the remittance market with its mobile payment solution, CONEC, which has signed an agreement with MoneyGram to provide remittance services.
Heston Hutton, Managing Director of Centralised Strategic Services, announcement on Wednesday that, with the company having received a remittance licence, it will be “going for remittance… aggressively.”

Explaining the advantage to customers of using the new electronic service, he said, “instead of them having to jump on a bus, to drive to the town to go sign up or receive remittance, they can pick it up from their phone in their backyard.”

The aim, Mr Hutton said, was to have consumers receive remittances via its CONEC mobile payment solution by the end of March next year.
He was speaking at a ceremony at which it was announced that Paymaster will be a point of  sales agent for CONEC.

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Credit Union League enters remittance market

Credit Union League enters remittance market

The Jamaica Cooperative Credit Union League, through its subsidiary, Centralised Strategic Services, will be going after the remittance market with its mobile payment solution, CONEC, which has signed an agreement with MoneyGram to provide remittance services.
Heston Hutton, Managing Director of Centralised Strategic Services, announcement on Wednesday that, with the company having received a remittance licence, it will be “going for remittance… aggressively.”

Explaining the advantage to customers of using the new electronic service, he said, “instead of them having to jump on a bus, to drive to the town to go sign up or receive remittance, they can pick it up from their phone in their backyard.”

The aim, Mr Hutton said, was to have consumers receive remittances via its CONEC mobile payment solution by the end of March next year.
He was speaking at a ceremony at which it was announced that Paymaster will be a point of  sales agent for CONEC.

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Credit Union League enters remittance market

Thursday, September 18, 2014

Caribbean must continue to increase share of global tourism market – CTO

Couple Relaxing in Beach Chair at Beach with 3D Cruise Ship

Ernie Seon

CASTRIES, St. Lucia, Monday September 15, 2014, CMC – The Secretary General of the Barbados-based Caribbean Tourism Organization (CTO), Hugh Riley, says while the Caribbean is forecasting another increase in arrivals for 2014, it is equally vital that it continues to increase its share of the global tourism market.

Speaking to the Caribbean Media Corporation (CMC) ahead of the September 17-19 State of the Industry conference (SOCIT) in the United States Virgin Islands, Riley said the CTO was heartened at the fact that arrivals to the region continue to grow and the prognosis for the industry remains good.

“In the Caribbean, arrivals continue to grow and thankfully we are now seeing the relationship between actual arrivals and revenue from those arrivals beginning to climb once again.

“So we see incomes starting to increase, so that earnings to spend is going up. So the prognosis is good from that point of view,” he noted.

However the Secretary General cautioned that it was vital that the Caribbean focuses on staying “ahead of the curve”, and on how the rest of the world is performing.

“For while we want our numbers to continue to increase with the Caribbean crossing the 25 million mark at the end of last year, and we are forecasting that we will again see an increase on that by the end of 2014, certainly if you look at the increase so far this year, there is every reason to believe that, all things being equal we will see another increase in arrival by the end of 2014,” he said.

But Riley asserts that this was not the only metric, noting that the Caribbean needed to ensure it was gaining market share and that while the rest of the world was getting involved in the tourism business, this region was increase its share of the pie.

“So while the prognosis is good, there is an absolute need for us to come to places where there is information on what’s happening around the world, places where we can consider solutions to our problems and where information is available about our best practices and inspire creative thought.

“We must be able to leave the conference feeling charged up to go out and do something different, go out and change something for the better in the business that we belong,” he noted.

Caribbean and global tourism stakeholders gather in St. Thomas to discuss and devise strategies to position Caribbean tourism for major change.
SOTIC is being organised in collaboration with the USVI’s department of tourism.

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Caribbean must continue to increase share of global tourism market – CTO

Friday, August 1, 2014

"Disabled could be shut out of rental market" - Communicaitons Specialist

With the pending implementation of huge fines for rental properties that do not have facilities in place to accommodate the disabled, it’s feared that the disabled could be shut out of the rental market.

According to the recently passed Disabilities Act, rental premises are mandated to provide facilities to accommodate the disabled, with fines being imposed for non-compliance.    

But Martin Henry, a prominent academic and public commentator fears this may have unintentional consequences. Henry, who was a guest on RJR’s That’s a Rap, argued that it may promote back-door deals being made which ultimately may cause discrimination.

“Already we have a very difficult rental market for non disabled persons.  The more you load the system with requirements, it may have the opposition effect of making premises  Of making premises not available, we are in a sort of non-legal kind of negotiation that could be made….  I’m pretty certain that the   negative fallout will be the withdrawal of some premises in the market place,” Henry said. 

In weighing in on the issue, Commentator Nadine Spence, who was also on “That’s a Rap,” said a mind-set change is needed, so that no one will not consider it a burden, to make modifications in order to accommodate the disabled.


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"Disabled could be shut out of rental market" - Communicaitons Specialist

Friday, July 25, 2014

Sweet River Abattoir and Supplies to list on Junior Stock Market

Sweet River Abattoir and Supplies is set to become the latest addition to the junior stock market.   
The company will launch an initial public offer on August 12 to raise $179 million from the sale of  46.3 million ordinary shares.    
Sweet River will use the proceeds to reduce bank loans, complete construction, install a solar energy generation system as well as raise working capital.    
The company is in the business of  slaughtering and performing first level processing of pigs and small ruminants.


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Sweet River Abattoir and Supplies to list on Junior Stock Market

Saturday, July 12, 2014

"Vindication!" JLP responds to BOJ intervention in forex market

There has been a quick claim of vindication from the opposition Jamaica Labour Party (JLP) in response to the decision of the Bank of Jamaica to intervene in the foreign exchange market.Opposition Spokesman on Finance and Planning Audley Shaw has labeled the Central Bank’s move as one that is in line with the policy of stability “promoted and successfully applied by the Jamaica Labour Party.”

“We have been warning the government for months that devaluation is hurting business, hurting people and hurting Jamaica. We were criticized for our positions, but as the higher prices and speculation have become chronic along with undeniable reductions in exports, it seems the BOJ has finally woken up,” Mr. Shaw said in a press release on Thursday.

But even while welcoming this step, Mr. Shaw declared that it did not go far enough. “Investors do not know the direction of the government so businesses cannot plan. The Government could decide next week to start devaluation again and this possibility does not bring confidence to the market and to the business sector,” he said. 

Accordingly, Mr. Shaw wants the government to “state its policy direction clearly, and its policy must create a stable and predictable environment.”

Furthermore, he said, if Jamaica is to benefit from the current  IMF agreement, “the government must also come up with a proper growth and development policy that is bankable and saleable,” one that includes a robust growth strategy.”


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"Vindication!" JLP responds to BOJ intervention in forex market

Wednesday, July 2, 2014

Transaction costs on the stock market increased

It’s now costing more to conduct transactions on the Jamaica Stock Exchange, JSE. Effective Monday June 30, the cess on transactions was increased by 0.1% or 0.05% to be paid by the buyer and seller.The JSE says the charge on contract notes issued by brokers for the purchase or sale of  shares will be 0.25%. General Manager of  the Stock Exchange, Marlene Street-Forrest, explained that the increase was triggered by rising operational expenses. The cess is a part of  the revenue base of  the Exchange.


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Transaction costs on the stock market increased

Monday, June 23, 2014

Stocks on JSE main market get tax-free status in Canada

CANADIAN investors ARE NOW exempt from taxes on income derived from buying stocks on the main Jamaica Stock Exchange (JSE) market.

Joe Oliver, the finance minister in Canada, approved the JSE as a designated stock exchange under the Income Tax Act in the North American jurisdiction.

Importantly, stocks on the JSE’s Main Market will become more attractive to Canadian pension funds, investment managers and investors on a whole, according to the JSE.

It also means that should Jamaican Diaspora Bonds be listed on the JSE Main Market it will be very attractive to the Jamaicans in Canada as they will not be required to pay income tax when trading these bonds.

JSE had to meet certain criteria to be recognised as a designated exchange, including adherence to rules and regulations, maintain a reasonable level of liquidity and offer a range of products on the exchange.

“This is a significant milestone in our history, when the Canadian Government recognised the JSE as a designated exchange,” said Marlene Street Forrest, general manager of the JSE. “This seeks to further solidify the relationship between Jamaica and Canada, a country which was instrumental in assisting the JSE with its first sets of Rules and the JSE’s Securities Course.”

According to Attorney-at-Law Courtney Betty who represented the Stock Exchange in the application, “Canadian investors, especially those from the diaspora present a tremendous opportunity to grow the Jamaica Stock Exchange as well as contributing to the growth and development of Jamaica.”


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Stocks on JSE main market get tax-free status in Canada

Sunday, January 26, 2014

Exporters ignoring TV route into US market, says CIN

BY BALFORD HENRY Observer Senior staff reporter balfordh@jamaicaobserver.com


Sunday, January 26, 2014    


NEW York-based Caribbean media network boss, Stephen Hill, believes that Jamaican exporters are ignoring the most critical route into the huge North American diaspora market, that of television.


And Hill is in a position to know, because he owns the Caribbean International Network (CIN-TV), an internationally-broadcast English language television channel in the tri-state area (New York, New Jersey, Connecticut) which focuses on Caribbean culture, news, sports, lifestyle, opinions, and entertainment, watched by over half-a-million Caribbean nationals daily on channels 73 and 25.


“It’s time to stop talking and start doing something,” Hill insisted as he spoke to the Jamaica Observer about the lack of support from local exporters, while lunching at his favourite local spot, the classic Liguanea Club in New Kingston.


“In Jamaica, from thine kingdom come, the politicians, the business people have been saying that they are going to export more and more; but until now, no one has been able to get that done except for a few major companies, like GraceKennedy and Jamaica National,” he commented.


Hill and his partner, Bob Gore, who heads Bob Gore Productions, a New York television syndication company, are disappointed by the low interest shown by local exporters. They feel that they have done enough to open the media gateway into the heart of the Caribbean diaspora, but are failing to attract the traffic they expected into this prized market.


A survey last year by the highly-thought-of Hope Research Group gave CIN just over 57 per cent of the English-speaking Caribbean heritage viewership residing in the New York area, when it is on air. This was a higher viewership than highly established networks like Fox, CBS, ABC and the Discovery Channel.


The US 2012 census showed that the English-speaking Caribbean audience (by households) in New York totalled 450,589. CIN had a minimum viewership of 238,812, but when extrapolated to include other persons watching together, it was found that the viewership could increase to as many as over half-a-million.


The Hope Research Group pointed out that CIN is watched equally by both men and women and has reach among all age groups, but is particularly strong among 30-49-year-olds. It has a 64.3 per cent popularity rating, with Caribbean people earning US$12,001 and above, and 59.4 per cent popularity among the first-generation Caribbean nationals polled.


Its most popular programme is Cover Story (Jamaica News), with 57.3 per cent of the survey’s respondents tuning in. This is followed by the music video programme, Irie Vibes, with 37.7 per cent and Entertainment Report with Anthony Miller at 33.3 per cent.


“What you have to bear in mind is that all they recorded were from the English-speaking Caribbean market. But we know that there are a lot more people – Haitians, French, Dominicans – apart from the 558,000 people from the English-speaking Caribbean market who they say were watching,” Hill emphasised.


According to Gore, who first came up with the idea of a Caribbean-owned and controlled television network, utilising a former NYC council commercial channel, CIN not only has the numbers, but the quality viewership, too.


“The largest share of our audience are those people with the most disposable income, and those are the customers you want to go after. Those are the ones who will make a difference,” Gore stated.


“Those are the people who are buying the kind of products you want to introduce into the US marketplace. My view is that the New York area is the second-largest Caribbean market in the whole world, outside of the region. There are more people from the Caribbean, or with Caribbean roots in the New York metropolitan area (than anywhere else outside the Caribbean),” Gore noted. “So, if you want to reach Caribbean viewers, without going through the costly major networks, we have a Caribbean audience that are watching us before they watch ABC, CBS or NBC, and that’s an achievement.”


But Hill lamented that despite this saturation of the tri-state Caribbean market, CIN has failed to get the level of support it expected from Jamaican exporters who need to penetrate the area’s huge commercial market.


He said that what Jamaican manufacturers need to understand is that the reason Americans have so many global American brands is that they have been able to create media which is seen around the globe.


“They trumpet their brands like Coca Cola and Pepsi Cola, and the only way the Caribbean is going to have that kind of success and create global brands is to have media that is doing the same thing,” he argued.


“We are strategic and we are sort of like guerrillas: We have gone right into New York and we are doing what they have been doing successfully around the world. Now a Jamaican can turn on his television in New York, today, and see shows like Oliver or Joint Tenants, and so on,” he explained.


CIN began as an idea and a single half-hour programme 20 years ago, founded by Hill, a very prominent Jamaican impressario of the 1970s and 1980s, and advertiser Ronnie Nasralla.


They went to New York with a few segments of local television series Oliver, starring Oliver Samuels, and a dream of creating the first television service targeting the rapidly growing Caribbean population. Now each day CIN can be seen on channel 73 reaching the five boroughs of New York, and on NYCTV reaching 18.9 million people in New York, Connecticut and New Jersey. With new extended reach, CIN makes sure that the over two million Caribbean-Americans stay connected to their history and culture, through a menu of news, sports, drama and music programmes created exclusively for the large Caribbean diaspora.


CIN recently acquired the rights to broadcast the Jamaican police drama, Squaddy, which was introduced on Flow TV in October last year, as a partnership between Flow and eMedia. Other programmes on the network include: What a Gwaan; Schools’ Challenge Quiz; The Ity and Fancy Cat Show; the drama Me & Mi Kru and the Jamaica Information Service’s (JIS) Jamaica Magazine.


Hill said that the network believes it can also become the gateway into the US market for Caribbean music videos and sitcoms and fashion shows. He said that in the future, the company also hopes to be able to carry live coverage of popular calendar shows like Reggae Sumfest and Rebel Salute.


However, he said that will take some serious planning, creative thinking, and more advertising revenue.


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Exporters ignoring TV route into US market, says CIN

Saturday, August 10, 2013

Stan Up roots drink targets $25m to penetrate market

STRAPPED for cash, the maker of Stan Up Energy Roots Drink is unable to increase its volumes for export as it is only able to service one-third of the demand for the product.

Furthermore, the local producer of the drink has shelved plans to export to eight additional countries, including the UK and Canada.Access Marketing and Development, which owns the blend of roots beverage that has been patented by the Jamaica Intellectual Property Office, currently sells to New Jersey, Florida, and the Cayman Islands. The company recently turned down a distributor in Trinidad and Tobago, that wanted to add Stan Up to its portfolio of products.“We had to turn them down because we can’t even satisfy our current markets,” said Glenroy Brown, president of Access Marketing. “We don’t want to waste people’s time.”Should Brown get the US$250,000 ($25 million) he is seeking in investments, to expand the production and marketing of the beverage, the cash flow of the company will be improved, and he would be able to increase output at a cheaper rate, he said. The businessman said he is currently engaged in discussions with potential investors.Brown confessed that the company can hardly pay the factory to put 1,000 cases or 24,000 bottles to the markets per month, which is 2,000 cases fewer than the current demand for the product, he said. The factory has the capacity to make 1,500 cases a day.Customers love the drink, according to Brown.“We’ve been through the hurdles of making the product accepted,” he said. “Sales are coming, but we cannot grow sensibly with a weak capital base.”Moreover, there is a shortage of factories that have the equipment needed to make the carbonated drink under the appropriate conditions, with the technique.“It takes special care to produce the drink and not many companies can spend the time to boil the roots,” Brown said. “It’s complicated, that’s why we don’t want to shift, and jeopardise the integrity of the drink.”Roots tonics have long been staples in the Jamaican grass roots culture, with wild claims of the many ills the drink can cure, and significantly, about its ability to enhance sexual performance.Stan Up is not like other roots drinks, which usually come with an acquired taste, Brown told Caribbean Business Report. This, he said, is possibly the main reason the customers love the drink. Plus, the marketing company has done a good job in building the brand.“When people think of roots and energy drink the first thing that comes to mind is that its either dangerous or has a bad taste,” he reasoned.But his is a drink that is fortified with complex B vitamins for energy, ginseng for endurance and sarsaparilla known to be a blood purifier, he noted.Furthermore, he works with the Scientific Research Council, Jamaica’s premier state-owned scientific agency, to make the drink’s concentrate that is sent to the factory for blending and labelling.Stan Up is the only product of its kind that is allowed on US shelves because it is Food and Drug Administration approved, according to Brown. Stan Up Energy Roots Drink is a hit in export markets but the makers are unable to meet the demand for the product.

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Stan Up roots drink targets $25m to penetrate market

Sunday, June 30, 2013

JSE bond market launched

Business

Corporate bonds can now list on stock exchange, access given to smaller investorsSunday, June 30, 2013

Companies are now able to list bonds on the Jamaica Stock Exchange (JSE), which will give a wider pool of investors access to debt instruments.The JSE is currently reviewing the minimum amount, also called a board lot, that investors can buy into the bond market, but it should be in the region of $10,000 increments.And while no corporate bonds — instruments issued by an entity for the purpose of borrowing money from investors for a defined period of time at an interest rate — are ready to be listed, the stock exchange is waiving the fee to do so for the rest of 2013.“The bond market is designed to facilitate the trading of bonds whether they are corporate bonds, Government of Jamaica securities, or the securities of any other sovereign CARICOM nation,” said Marlene Street Forrest, JSE general manager. “The JSE Group has the platforms through which issuers of corporate bonds can raise capital on the primary market and list on the JSE.“Equally, those corporate bonds that have already been floated privately can still be listed on the exchange.”The idea behind the JSE bond market, is to facilitate the trading of bonds with the aim to increase efficiency, transparency and liquidity.For companies, the the market and trading platform offers an alternative to bank loans, flexibility to expand from equities into bonds, and potentially cheaper source of funding.Rating of bonds provide another means by which companies are able to signal the grade bonds they are floating, which could potentially impact on the cost of borrowing, according to Wayne Dass, CEO of Caribbean Information and Credit Rating Services Limited (CariCris).On the other side of the coin, investors will be able to enter or exit bond positions much easier, they will have greater access to information on the borrower, there is potential for capital appreciation of the bonds, and continuous pricing allows for daily monitoring of the bonds.As is customary, investors will be required to place their buy and or sell orders with a licensed member of the JSE.Wayne Dass (right), CEO of Caribbean Information and Credit Rating Services Limited (CariCris) speaks with Donovan Perkins (left), Jamaica Stock Exchange (JSE) chairman, while JSE general manager, Marlene Street Forrest listens attentively. (PHOTO: BRYAN CUMMINGS)

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JSE bond market launched