Jamaica set to benefit from US economic recovery

12:00 am, Fri September 26, 2014

Nick Chamie, Scotiabank’s Global Investment Strategist, believes Jamaica is set to benefit from the rebound in the U.S. economy. 
Mr Chamie, who was speaking at a Scotiabank seminar in Kingston on Thursday, said improvements are already being seen on U.S. household balance sheets.      
Those improvements have resulted in Americans starting to borrow again, which he believes, will push private sector growth in that country.     
Mr Chamie said that means the U.S. dollar will reclaim its strength and become the best performing currency in the next five years. He said that trend will benefit Jamaica, though he did not elaborate.

He pointed out that the global economy has recovered 65 per cent of  its decline since the world wide recession in 2008. Full recovery is expected to take another four years.

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Jamaica set to benefit from US economic recovery

Jamaica sends rescue, recovery team to plane crash site

KINGSTON, Jamaica, Friday September 5, 2014, CMC - Jamaican authorities have mobilized emergency resources and have started operations to rescue, recover and investigate the crash of a private plane in waters 14 miles north of the north eastern parish of Portland.

On Friday afternoon, a Jamaica Defence Force (JDF) helicopter and a coast guard vessel headed to the location, which according to the Civil Aviation Authority (CAA) is being monitored by US air force personnel in the area.

Head of the Civil Aviation Authority in Jamaica, Leroy Lindsay said the authority was alerted to the situation by the US Federal Aviation Authority (FAA) at approximately 12.10 pm local time.

Lindsay said he was then told that “ American air assets were following the aircraft and it was approaching Jamaican air space.”

He said shortly after 12:30 pm , the US officials confirmed that the aircraft had entered Jamaican airspace. Jamaican officials then asked the US fighter jets to enter Jamaica’s airspace to continue monitoring the situation.

The CAA said it advised Emergency Authorities, Defence officials and government sources of the situation and full emergency responses were put into effect.

Transport Minister Dr. Omar Davies confirmed that the government was made aware of the situation and the main concern was to determine how to prevent a catastrophe in populated areas.

The aircraft left Rochester, New York early Friday and was scheduled to land in Naples, Florida. On board were Chief Executive Officer of New York-based Buckingham Properties Laurence Glazer and his wife, Jane. Both are from Rochester, New York.

The Federal Aviation Administration (FAA) had been trying to make contact with the aircraft since 10 am.

Officials suspect the Glazer’s, succumbed to hypoxia – a lack of oxygen, probably caused by a sudden drop in cabin pressure. “We suspect hypoxia,” said Jennifer Stabnyck, a spokeswoman the North American Air Defence Authority (NORAD).

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Jamaica sends rescue, recovery team to plane crash site

China"s factory output rises in sign of recovery

Business

By APWednesday, September 11, 2013

BEIJING, China — CHINA’S factory output expanded in August at its fastest rate this year in a new sign the world’s second-largest economy is recovering from its deepest slump since the 2008 global crisis.Industrial production rose 10.4 per cent, accelerating from July’s 9.7 per cent, government data showed yesterday.The signs of economic revival will ease pressure on Chinese leaders who want to focus on longer-term structural reforms analysts say are needed to keep economic growth strong.“We have got a picture of a broad-based recovery from external demand to domestic demand, and from consumption to investment,” said Bank of America economists Xiaojia Zhi and Ting Lu in a report.Economic growth declined to a two-decade low of 7.5 per cent in the second quarter but trade, factory output, auto sales and other indicators suggest the slowdown is levelling out.Communist leaders want to nurture more self-sustaining growth driven by domestic consumption instead of trade and investment. They responded to the unexpectedly sharp decline in growth this year with higher spending on railway construction and a small business tax cut, but have resisted pressure for a more ambitious stimulus.Export growth accelerated to 7.2 per cent in August from July’s 5.1 per cent.Also in August, consumer inflation edged down to 2.6 per cent from July’s 2.7 per cent. Wholesale prices that have declined steadily for more than a year fell less sharply in another sign of growing demand.“With a number of other emerging markets mired in turmoil as the US Fed prepares to taper its QE programme, we believe China stands out as a relatively safer haven with its resilient growth, stable currency and strong balance of payments,” said Bank of America’s Zhi and Lu.A woman begs money from passersby at a pathway in Shanghai. China’s economy appears to be gradually rebounding from its deepest slump since the 2008 crisis, but analysts say improvement will depend on the strength of global demand for Chinese exports. (PHOTO: AP)

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China"s factory output rises in sign of recovery