Tuesday, 01 November 2022 10:19

TransJamaican reports increased profit

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TransJamaican Highway earned more profit in its third quarter ended September.

Lasco Financial Services Limited (LasF), an affiliate of the Lasco Group of companies, in building out its digital portfolio and expanding offerings under its remittance business is pushing to add another money transfer service in the coming months.

Friday, 28 October 2022 13:07

Jamaica Broilers doubling down on USA

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Jamaica Broilers Group Limited (JBG) is planning on increasing its investments in its US operations as it plans to expand its poultry processing plant in South Carolina, United States of America.

Some 270 students of Caribbean descent have been provided with scholarships and/or financial assistance by Dr Trisha Bailey as part of her charitable outreach.

Two employees of Sagicor Bank are to appear before the Kingston and St Andrew Parish Court on December 9 to answer six charges related to fraudulent activities on customers' accounts.

The two employees, Tricia Monique Moulton, 42, bank manager of Sagicor Bank Liguanea, and Malika McLeod, also 42, personal banker at Sagicor Bank Liguanea, were arrested by the Counter-Terrorism and Organised Crime Investigation Branch (C-TOC) on Friday. They have since been released on bail in the sum of $1 million each.

They were charged with the offences of conspiracy to defraud, access with intent to commit or facilitate an offence, unlawfully making available device or data for the commission of an offence, computer-related fraud, breaches of the Proceeds of Crime Act, and larceny as a servant.

The allegations are that between August 2022 and October 2022, Moulton and McLeod, in their capacities as manager and personal banker, respectively, conspired and defrauded about six Sagicor customers' US currency accounts of an undetermined sum of money.

One of the accounts has been fully verified to have been defrauded of a total of $2.5 million. The fraud was discovered during a routine internal audit which is still ongoing to establish the final figure. A police source says the figure could rise to as much as $60 million.

It is alleged that the accused women created fraudulent accounts in the customers' names then transferred funds from the legitimate accounts to the fake accounts, and thereafter stole the funds.

Sagicor, in response to media queries on the matter, said the fraudulent activities were uncovered through its internal security systems.

"We wish to assure our clients that we take the security and protection of their assets very seriously. We constantly review our operations rigorously in order to promptly detect anomalies, and liaise with the authorities to ensure that those responsible face the full legal ramifications," the bank said in a release.

It said after its investigations discovered the fraud the matter was handed over to the police and the implicated employees have been suspended to facilitate the progress of the investigation.

The bank added: "In an effort to ensure that the legal and ethical processes of the case are upheld, we will not be making any further comment on this matter."

Business and consumer confidence increased in the third quarter of 2022 as the Jamaican economy continues to show signs of recovery.

GROSS ticket sales grew 26 per cent for lotteries and gaming company, Supreme Ventures Limited (SVL) during its third quarter ended September, when compared to the same period last year.

Friday, 21 October 2022 13:50

MOF signs double taxation agreement with UAE

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Finance Minister Dr Nigel Clarke, and Ambassador of the United Arab Emirates (UAE) to Jamaica, Bader Abdullah Saeed Almatrooshi, signed a Double Taxation Agreement (DTA) for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income.

Wednesday, 19 October 2022 16:14

Jamaican scholar featured on Times Square billboard

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Jamaican-born, Victoria Horne, was recently featured in Times Square on the Morgan Stanley billboard after becoming one of the 2022 Capstone Project winners in the Morgan Stanley Jumpstart Lead programme.

Wednesday, 19 October 2022 15:47

Dolla Financial amasses huge profit for third quarter

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Listed company Dolla Financial Services made more profit in its third quarter ended September.
The International Monetary Fund has acknowledged that more must be done for developing countries, as the world braces for an economic slow down.
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