Tiger Woods

Senior St Ann cop dies of suspected heart attack A senior police officer assigned to the St Ann division died at the StAnn’s Bay Hospital on Monday morning. Magnum Kings' boss dismisses ‘...


Dana Morris Dixon, who heads Business Development and the Jamaica National Group says that for Jamaica to survive, Jamaicans need to reduce their appetite for borrowing to finance purchases that don't offer return.

Economist Dana Morris Dixon says Jamaicans need to curb their appetite for depreciating assets, if they want their country to experience the kind of economic stability it needs to grow. Morris Dixon, who heads Business Development and the Jamaica National Group says that for Jamaica to survive, Jamaicans need to reduce their appetite for borrowing to finance purchases that will not facilitate or offer them increased financial returns. Her comments are based on reported findings of the Bank of Jamaica in its Financial Stability Report 2016, which reveals increasing indebtedness among Jamaican households. About $5.40 of every $10 of household income is used to "pay down" on debts the report states. That compares to $3.30, a decade before, in 2006. “We need comprehensive public education about managing our finances,” Dr Morris Dixon underscores, noting that although the debt level among the country’s households was not the worst in the world, without proportionate increases in income, the problem will exacerbate. “Globally, there is a similar trend taking place in terms of rising household debt. Several countries, particularly developed countries, have household debt that is higher than their Gross Domestic Product (GDP), while in some countries household debt is twice as high as GDP,” Dr Morris Dixon explains emphasizing that there are many countries with a household debt to GDP ratio, which is much higher than Jamaica’s. “However, with high household debt and minimal growth in wages, consumption spending cannot be relied on, as the key driver for economic growth,” she says. Dixon notes that borrowing can be good, if people borrow to invest in appreciating assets, such as real estate; however, many loans in Jamaica are being used to purchase assets, such as motor vehicles; and to finance other activities that diminish in value over time. She notes that the improper use of credit cards, for example, is a major driver of personal debt, with the BOJ reporting credit card receivables of some $33.8 billion for 2016. “During a survey we found that when choosing a credit card people are looking first at whether rewards and points are offered and not at the interest rate, which indicates a major problem” she said. In addition, Dixon pointed to the growing size of the micro loan market as an indication of the growing appetite for debt. She observed that with stricter regulation and the emergence of credit bureaus to confirm the credit worthiness of customers, non-performing loans at deposit-taking institutions have been decreasing; however, loan agencies which are not as strictly regulated, may be posing a challenge. “Borrowers are more likely to default on loans from less traditional facilities, such as micro loan agencies, which may be an even bigger issue, given the high interest rates charged and the demographic of the borrowers who use these agencies,” she says. To manage the situation, Morris Dixon said, the country either has to grow its GDP; or reduce household debt, while growing GDP, or maintaining GDP at the same level. However, she said there must be a concerted effort on the part of citizens, government and financial institutions to change that behaviour. “Borrowers need to be educated about the potential impact of acquiring too much debt,” she said. “And, that process should start at an early stage, by educating young people to budget and to stick to their financial projections.” The economist says steps should be taken to ensure that financial institutions, particularly those that are not regulated do not take advantage of borrowers by imposing interest rates, which are onerous to repay. In addition, she says deposit-taking institutions should maintain stringent underwriting procedures to ensure that consumers do not need to restrict their consumption to satisfy their debt obligations. She says institutions should also encourage debt consolidation, to assist consumers to benefit from lower rates. “In addition, lending institutions ought to explain the intricacies of different loan terms; and advise their customers and clients about specific ways to manage their interest payments, such as paying more than the minimum,” she maintained.

Mayberry Investments started tradingon Mondaymorning as the highest gaining stock over the last five trading days. Over five days, the stock gained 26 per cent to close at $5.30. It was followed by Consolidated Bakeries, up 16 per centduring the week, to close at $2.88. The largest declining stock was 1834 Investments, down 21 per cent to close at $1.42. The JSE Combined Index declined by 2,510.15 points (one per cent) to close at 251,257.54. The JSE Index declined by 2,184.98 points ( 0.93 per cent) to close at 234,419.39. The JSE All Jamaican Composite Index declined by 2,398.14 points ( 0.93 per cent) to close at 257,288.98. The Junior Market Index declined by 46.73 points (1.42 per cent) to close at 3,293.57. The JSE USD Equities Index declined by 5.52 points ( 2.56 per cent) to close at 215.59. Overall Market activity resulted from trading in 82 stocks of which 23 advanced, 32 declined and 27 traded firm. Market volume amounted to 21,941,488 units valued at over $233 million. Caribbean Producers Jamaica Limited was the volume leader with 6,692,300 units (30.50 per cent) followed by Sagicor Group Jamaica Limited with 1,692,562 units (7.71 per cent) and JMMB Group Limited 7.50 per cent with 1,564,395 units (7.13 per cent).


Rankin Pumpkin performing during the Magnum Kings and Queens of Dancehall competition.

Mark Kenny, executive producer and creator of television talent series Magnum Kings and Queens of Dancehall, has expressed disappointment at remarks made by Japanese contestant Rankin Pumpkin after the season finale on Saturday. The Japanese deejay expressed shocked by what she described as “racist comments” directed at her by members of the public, fellow contestants and even “one of the judges” throughout the course of the competition. She made the remarks in a post to her Facebook account hours after losing to fellow artiste Suspense in the finals. “I was very surprise how I was treated as a Japanese citizen. It seems as if they don`t want any other citizens to be in their competition,” Rankin Pumpkin said. “I wanted to quit more than once, but my Jamaican producer African Symbol say don`t quit,” she said. She accused one male judge of saying if “this Japanese lady… went to the final he will quit the job”. What's worse, Rankin Pumpkin said, she received death threats on the final night. "At the final event, some people come and talking at my ears many racist comment threatening kill me if I win. Talk about murder in patwa language. Many intimidation," she said. However, Kenny refuted the allegations in an interview with Loop News on Monday afternoon. According to Kenny, her allegations either stem from cultural differences or she is just downright lying. He said, "I think it is cultural misinterpretation how people in Jamaica are. Never once did she come to the production team or producer and say to anybody that there were racists comments targeting her. "I don't believe it is true. Maybe it is because she did not win, but this is all new to us. If something like that happened somebody would have gotten wind of it,” Kenny said. He explained that contestants “made fun of each other” throughout the contest and “it was not meant to be malicious. “The humour might have been lost on her,” Kenny said in a telephone interview with Loop News’ reporter Job Nelson. Kenny added that even when Suspense was injured in a car accident, the other contestants made fun of her, and everyone laughed about it. Kenny said, "the producers are sorry that she ever felt like that. We are disappointed that if she did feel like that, she didn't come and say something to us. She was treated just like everybody.” "We are disappointed that she said that after the show when she would have had ample opportunity during the show to do so," Kenny concluded. See Rankin Pumpkin’s post in full below. Respect and give thanks to Magnum Kings and Queens, Digicell and KFC and all other sponcers of the competition. Thank you very much to all of my Japanese friends and Jamaican supporters who vote for Rankin Pumpkin through out of Magnum Kings and Queens competition. I really enjoyed the competition. It was very nice exposure. It seems very easy in the competition looking from the out side. But very very tough inside. Many racist comments from audience and contestants. Also one of the judge of the competition. I was very surprise how I was treated as a Japanese citizen. It seems as if they don`t want any other citizens to be in their competition. In some point, I wanted to quit more than once, but my Jamaican producer African Symbol say don`t quit. At one point racist comment from the same judge saying that this Japanese lady if she went to the final he will quit the job. Some time when I am singing he push finger in his ears, some time turned his back on me even though the audience jump up and enjoy my song. He also publicly said he wish, I drop off from the competition. But I continue to push on until I reach the final. But the racist comment that he push generate some energy on the some of the local population also on the street. I was surprise because Japan is one of the biggest supporter of Reggae Music in the world since 1979 when Bob Marley introduce to us. Most of Reggae concert that held in Japan such as Japan Splash etc. They are all Jamaican artists and entertainers. We don`t understand what they are singing because we speak fluent Japanese, they sing in patowa broken English. We don`t understand but we still enjoy their music when they performing with a lot of happiness and love. We open our heart and give love to all Jamaican artists and entertainers. So I was shocked of what I received in the Jamaican competition. Fortunatly I reached at final at the competition. Many many comments on the street saying Japanese people trying to win the competition. Get the money and take away Jamaican money, take away Jamaican music. At the final event, some people come and talking at my ears many racist comment threatening kill me if I win. Talk about murder in patowa language. Many intimidation . So I decide not to perform. But my producer keep saying I should perform. So I protest in my mind I not gonna do it. When I went up to the stage, for the clash that why I did not contest the clash. If you look on Youtube see my facial impression that something was wrong. Big up to Ms Kitty who accept me gave me first chance to enter the competition at audition venue. Big up Professor Nuts. Big up to Bountyh Killa who saw my talent and gave me good comment. Big up to my producer African Symbol also African Symbol recording studio crew. Big up Vashti, Big up Bobby, Big up to Jah Wise and Ceyon. Thank you from Rankin Pumpkin

Style Week 2017 ended with a bang as Saint International shut down Knutsford Boulevard in New Kingston on Sunday. Fifteen designers presented their fabulous collections and of course, we have the highlights. Check out the gallery below. [image_gallery]


This image provided by the Palm Beach County Sheriff's Office on Monday, May 29, 2017, shows Tiger Woods after his arrest. (PHOTO: AP)

Police say golf greatTigerWoods has been arrested on a DUI charge in Florida. The Palm Beach County Sheriff's Office says on its website that Woods was booked into a county jail around 7 a.m. on Monday. Jail records show Woods had been arrested by police in Jupiter. He was released just before 11 a.m. on his own recognizance. He has been charged under a Driving Under the Influence statute. No other details were immediately available. Messages left for a Jupiter police spokeswoman were not immediately returned.

Portmore United midfielder Michael Binns (centre) celebrates after beating UWI to the RSPL final.

Michael Binns has built a reputation of scoring brilliant goals andSundaywas no different. He stepped up and curled a free kick home, to hand Portmore victory over UWI at Mona Bowl in their Red Stripe Premier League semi-final encounter. With Portmore leading the game 1-0 and the two-leg tie locked at 2-2, the match seemed to be headed into penalties, with both teams failing to lift their game in the extra-time. Binns, however had other ideas and with Portmore receiving a free kick to the left and just outside the penalty area, Binns swung the ball over the UWI wall, away from the goalkeeper and just inside the goal post. In an interview with Loop News reporter Job Nelson, Binns said, “whenever I score it is always something to talk about.” According to the midfielder, he practiced that same free kick in trainingon Saturday. “Yesterday, I practised the same free kick from the same angle in training. It didn’t score because the ‘keeper made a brilliant save. “But when I get the free kick, I was telling the captain (Ewan Grandison), because he wanted to go (kick it) and I told him, ‘hey, I have this’”. “From the moment I spot the ball I know where I wanted to put it and I must say thanks to father God (it scored),” Binns said. For UWI coach Marcel Gayle, it was that goal that made all the difference. Asked what he believe went wrong, Gayle said, “it is just unfortunate, it was a brilliant goal that beat us. I think they deserved it from a free kick like that.”


Events

"2017-05-16","2017-07-16","2017-07-17","2017-07-18","2017-07-19","2017-07-20","2017-07-21","2017-07-22","2017-05-20","2017-05-13","2017-05-03"
Spectr News Theme
July 16, 2017

Reggae Sumfest

Reggae Sumfest event kicks off on Sunday, July 16 with a beach party and moves into the Sumfest Sunset Yacht Party on Monday, July 17. The staple All-White Party at Pier One happens on Tuesday, July 18, followed by Sumfest Blitz on Wednesday, July 19. On Thursday, July 20, Pier One will play host to the exciting Sumfest Heavyweight Clash then culminates at Catherine Hall on Friday, July 21 and Saturday, July 22 with the pulsating rhythms of music and Jamaican culture.