JAMAICA BUSINESS NEWS: January 17th – 23rd, 2015

 

JAMAICAN GOVERNMENT TO FACILITATE INVESTING IN CUBA—01/17/15
Arnaldo Brown, Jamaican State Minister for Foreign Affairs and Foreign Trade, said the government is ready to help in making it easier for local investors to tap opportunities in Cuba. Cuba is viewed as an excellent investment due to the re-establishment of diplomatic ties between that country and the United States. The improved relations between these two nations are expected to open up a wide range of opportunities for local investors.

SPANISH WIND-TURBINE MANUFACTURER WINS JAMAICAN CONTRACT—01/19/15
Gamesa Corp. Tecnologica SA (GAM), the biggest wind-turbine manufacturer in Spain, has won a contract to provide wind systems to a Jamaican facility. The firm will provide 12 turbines that will generate 12 megawatts of power, to Wigton Windfarm Ltd., which is a unit of the Petroleum Corporation of Jamaica. The use of clean power sources to generate electricity is currently at nine percent of Jamaica’s total, but Gamesa expects that to increase to 12.5 percent in 2015 and 20 percent by 2030.

BIOTECH FIRMS IN MEXICO, JAMAICA SIGN AGREEMENT—01/20/15
The Bio-Tech R&D INSTITUTE (BTI) of Jamaica and TruBios1, an international research company based in Mexico, have signed a Memorandum of Understanding (MOU) designed to enhance innovation, research and service quality at both firms. Dr. Henry Lowe, the head of BTI, and Dr. Robert Trujillo, the president and CEO of TruBios1, will sign the agreement.

WEBSITE OF BANK OF JAMAICA HIJACKED—01/21/15
Individuals who tried to access the website of the Bank of Jamaica (BOJ) were redirected to a website that seemed to be the homepage of a marketing company known as Network Solutions. Instead of accessing their bank accounts, users found themselves redirected to a site that included various types of advertising. Authorities believe that those responsible for the hijacking are based in Jacksonville, Florida. The bank assured customers that the central database had not been compromised and that the problem was chiefly localized.