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Implementation of ASYCUDA World at Jamaica Customs to be Completed by Next Month

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As efforts continue to improve the trade of goods and services across local and international borders, the Jamaica Customs agency is fast tracking its own plans to integrate and facilitate the process.

This is being done through the implementation of the Automated System for Customs Data (ASYCUDA), which is expected to be completed sometime next month.

The web based system is designed to transform the agency to a paperless operation through the use of electronic documents.

According to Commissioner of Customs, Major Richard Reese, the new automated system is in keeping with the Government’s strategy to improve trade facilitation and service delivery in customs administration and when completed will see customs declarations, shipping manifests as well as accounting procedures, and transit and suspense procedures all being conducted electronically.

The system is being implemented through a US$4 million loan from the Inter-American Development Bank (IDB).

Meanwhile, Chief Information Officer of JCA, Andre Williams says the system has eliminated the use of paper, which has reduced the processing and waiting times at various stages and has resulted in cost saving.
He says based on the number of yearly transactions, where it concerns exports and commercial imports, there is a saving of $66 million per year just for the purchasing of forms.

Williams says ASYCUDA has allowed for “greater efficiency, transparency and accountability on the part of our business partners as well as the JCA [because] there is an immediate electronic submission of the declaration and supporting documents”.

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John Mahfood “I Listed on the JSE to Raise Capital for My Business”

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JSE Online Trading Platform

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Grace Stockholders To Vote On 3-for-1 Stock Split Today

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Shareholders of GraceKennedy Limited will this morning meet to consider and, if thought fit, approve a recommendation for a three-for-one stock split.

If approved, shareholders will receive three stocks for each one that is currently held.

According to group CEO Don Wehby, the stock units with a market price of J$115.00 per stock unit prior to the split will now increase threefold with an initial price of J$38.33 per stock unit

He says the stock split would allow GK’s stock to be made available to more investors while further enhancing the market for the shares.

Ahead of this morning’s Extraordinary General Meeting, GK last week issued 59,360 additional GK shares.

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UK Loses S&P Triple A Rating

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The UK has lost its top AAA credit rating from ratings agency S&P following the country’s vote to leave the EU.

S&P says the referendum result could lead to “a deterioration of the UK’s economic performance, including its large financial services sector”.

Earlier the pound plunged to a 31-year low against the dollar, and UK markets closed lower for a second day. On Friday,

Moody’s cut the UK’s credit rating outlook to negative.

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Caribbean Hotels Named In Jetsetters’ 2016 Best Of The Best

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Three Caribbean hotels have been named in US-based travel and lifestyle magazine Jetsetter’s 2016 Best of the Best awards.

The list which was published recently, highlighted the world’s 20 best hotels in categories ranging from Best Over-The-Top Luxury to Best Safari Lodge.

Included in the list were Antigua and Barbuda’s Barbuda Belle Luxury Beach Hotel, Anguilla’s Zemi Beach House Resort & Spa, and St Lucia’s BodyHoliday.

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