分类： business

KINGSTON, Jamaica — The National Commercial Bank (NCB) has announced the introduction of a Voluntary Separation Programme (VSP) for eligible staff members across its operations and wholly-owned subsidiaries in Jamaica. The initiative, which will be available from September 23, 2025, to September 29, 2025, is entirely optional and aims to assist employees who are considering alternative career paths or opportunities outside the bank.

Participants in the VSP will be entitled to a comprehensive package of financial and transitional benefits. These include severance payments, extended health and life insurance coverage, concessions on staff loans, flexible pension options, and the continuation of existing scholarships. NCB has clarified that the programme is not a replacement for redundancy provisions and is unrelated to employee performance. Approval for participation will be contingent on the bank’s business needs.

In a statement, NCB emphasised its commitment to fairness, transparency, and respect throughout the process. ‘We deeply value the contributions of all our employees and remain dedicated to supporting our team members during this transition,’ the bank stated. The VSP reflects NCB’s proactive approach to workforce management while maintaining its focus on operational efficiency and employee welfare.

In a landmark settlement, Amazon has agreed to pay $2.5 billion to resolve allegations brought by the Federal Trade Commission (FTC) regarding deceptive practices in enrolling consumers into its Prime subscription service and complicating the cancellation process. The lawsuit, filed in a federal court in Seattle, accused Amazon of intentionally misleading customers during checkout, making it challenging to decline the $139-per-year Prime membership while prominently featuring sign-up options. The FTC highlighted that crucial details about pricing and automatic renewals were often obscured or buried in fine print. Amazon’s internal cancellation system, nicknamed ‘Iliad’—a reference to Homer’s epic about the prolonged Trojan War—was described as deliberately convoluted. As part of the settlement, Amazon is required to overhaul its enrollment and cancellation processes, ensuring transparency and ease of use. Additionally, the company must implement new disclosure requirements before charging consumers. The court had previously ruled that Amazon Prime subscriptions fall under consumer protection laws, emphasizing that Amazon collected billing information without fully disclosing subscription terms. Amazon neither admitted nor denied wrongdoing in the settlement proposal, which was submitted before the third day of testimony in Seattle. This case is part of a broader bipartisan effort to regulate the growing influence of U.S. tech giants, marking a significant shift in government oversight.

In a decisive move to protect Jamaica’s tourism sector, Tourism Minister Edmund Bartlett has announced plans to strengthen regulations and enforce penalties against unregulated operators. Speaking to the Jamaica Observer, Bartlett emphasized the risks posed by unlicensed activities, which undermine the country’s tourism product. He revealed that the government will collaborate with the Ministry of National Security and the Ministry of Justice to ensure compliance and enforce sanctions effectively. This initiative comes in response to growing concerns from licensed stakeholders who report unfair competition from unregulated entities. For instance, Garfield Dussard, owner of Garfield’s Diving, highlighted the challenges of competing with operators who bypass permits, licenses, and insurance, offering cheaper rates and larger commissions. Similar grievances are echoed across the industry, with licensed transport providers, craftsmen, and tour companies losing market share to unregulated rivals. The Tourism Product Development Company (TPDCo) has begun issuing cease-and-desist orders to unregistered operators, but many argue that enforcement remains inconsistent. Licensed operators like Robert McNamee and Dalton Green have expressed frustration over the lack of effective action, with some even considering exiting the industry due to unsustainable competition. Minister Bartlett has called for stricter enforcement and a partnership with local authorities to ensure compliance with standards. The Tourism Ministry is also pursuing policies to incentivize greater participation of Jamaican manufacturers, farmers, and professionals in the tourism supply chain. As Jamaica strives to maintain its status as a premier destination, stakeholders stress the need for a balanced regulatory framework that ensures safety, fairness, and sustainability for all participants in the industry.

The Jewel Grande Montego Bay Resort in Jamaica became the epicenter of culinary innovation on September 16, as the United States Department of Agriculture (USDA) hosted an enlightening Beef & Lamb Showcase. The event, designed to highlight the exceptional quality and versatility of USDA-certified meats, attracted a diverse audience of industry professionals, including chefs, hoteliers, and food-and-beverage executives, all eager to explore the potential of these premium products in Jamaica’s dynamic food scene. The evening commenced with insightful presentations and live demonstrations by USDA experts, who detailed the rigorous standards, cutting-edge practices, and nutritional advantages that position USDA beef and lamb as global market leaders. These sessions not only emphasized the superior quality of the meats but also underscored the opportunities they offer for elevating menus in Jamaica’s hospitality sector. The second half of the event featured a curated tasting session, where guests savored an array of dishes that showcased the adaptability of USDA beef and lamb. From internationally inspired tender cuts to innovative fusions with traditional Jamaican flavors, the culinary creations sparked vibrant discussions among attendees. Cecil Jagdath, Executive Chef at Marguerites, praised the initiative, noting its value in providing fresh perspectives and enhancing the dining experiences expected by guests. For the USDA, the event was more than a promotional effort; it was a strategic move to strengthen ties with Jamaica’s hospitality industry and bolster the island’s reputation as a global culinary destination. Liz Wunderlich, Caribbean Representative for US Meats, highlighted Jamaica’s significance as a key market and announced plans for local distribution of USDA premium products through supermarket channels. The showcase concluded with toasts to its success, marking a significant step in fostering collaboration between the USDA and Jamaica’s culinary leaders.

KINGSTON, Jamaica — The US dollar demonstrated a slight upward trend against the Jamaican dollar on Wednesday, September 24, closing at $161.04, marking an increase of 12 cents, as reported by the Bank of Jamaica’s daily exchange trading summary. This marginal rise reflects ongoing fluctuations in the foreign exchange market. In contrast, the Canadian dollar experienced a decline, ending the day at $115.52, down from its previous close of $117.50. Similarly, the British pound saw a minor dip, settling at $216.12 compared to $216.90 the day before. These shifts highlight the dynamic nature of global currency markets, influenced by a range of economic factors and international trade dynamics.

KINGSTON, Jamaica—In a welcome development for motorists, fuel prices across Jamaica are set to experience a notable decline starting Thursday, September 25. This adjustment follows the latest ex-refinery pricing data released by Petrojam, the nation’s leading oil refinery. The price of 90-octane gasoline will drop by $2.60, bringing it to $165.82 per litre, while 87-octane gasoline will also see a reduction of $2.60, settling at $158.81 per litre. Automotive diesel fuel will decrease by $0.54, priced at $167.47 per litre, and ultra-low sulphur diesel will see a $0.63 reduction, costing $173.73 per litre. Additionally, kerosene prices will fall by $0.54, making it available at $152.01 per litre. This price adjustment is expected to provide relief to consumers and businesses alike, easing the financial burden of transportation and energy costs.

DUBAI, UAE — Dushyant Savadia, Founder and CEO of Amber Group, was celebrated as the Global Leader of the Year 2025 at the 26th Asian Business and Social Forum. The prestigious event, organized by AsiaOne Magazine and URS Media, took place on September 19 at the JW Marriott Marquis Hotel in Dubai. The forum, themed ‘Celebrating the Spirit of Asia,’ brought together a diverse assembly of global business leaders, policymakers, diplomats, and investors from Asia, Africa, the Middle East, Europe, and the Americas.

In addition to Savadia’s accolade, Amber Connect, a subsidiary of Amber Group, was recognized as one of the World’s Greatest Brands 2025. Savadia, in his acceptance speech, emphasized the importance of service in leadership, stating, ‘Success without service is meaningless. True leadership is measured not just by profits but by the lives we uplift.’

AsiaOne Magazine lauded Savadia as a transformative figure whose contributions span philanthropy, technology, and entrepreneurship. ‘Mr. Savadia’s work exemplifies service, innovation, and resilience. He has demonstrated how technology can create jobs and address global challenges while remaining committed to local communities,’ the magazine noted.

The forum highlighted key themes such as bilateral trade, innovation, and cross-continental collaboration. Attendees included ambassadors and dignitaries from the Maldives, Zimbabwe, Guatemala, Kenya, and Indonesia, alongside members of royal families, Emirati cinema icons, and influential business leaders. The event served as a global platform for celebrating progress and fostering international cooperation.