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Concrete Block makers urged to be compliant with market requirements

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Concrete Block makers are being urged to improve their levels of compliance with the Hollow Concrete Blocks market requirements.

This follows concerns that have been expressed by the Bureau of Standards Jamaica (BSJ) and the Block Makers Association of Jamaica (BMAJ) over what they say is the high percentage of non-compliant Hollow Concrete Blocks in the market.

According to the BSJ, following a series of island-wide inspections conducted on over 200 block makers, within the past three (3) months, the BSJ found a non-compliance rate of approximately 83%. The BSJ says this means eight out of every 10 blocks were substandard and failed the test.

The BSJ and the BMAJ are encouraging all block makers to take steps to register their block-making facilities because registration confirms compliance with the Standard.

In the interim, the BSJ says it has instituted several initiatives in an effort to “ensure the safety of the Jamaican people”.
It says these include attempts to partner with the BMAJ to foster a closer relationship with the industry and to increase awareness and compliance of block makers to the requirements for the production of concrete blocks. It says efforts have also been made to restructure the Regulatory and Engineering Divisions, as well as expanded their teams to provide more timely test results and also facilitate more inspections, sampling and testing.

The BSJ says it has also implemented a more rigorous programme of sampling and testing of blocks to ensure compliance to the Standard. During this testing process, blocks will be detained and if the results show that the blocks sampled failed, then the batch, from which they came, will be destroyed.

Jamaicans are being urged to only purchase blocks from companies that are registered with the BSJ, or from hardware stores and other entities that can confirm that their blocks were acquired from registered block makers. BM

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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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