10
J UST BEFORE midnight on August 5, 1962, the British Union Jack was low- ered and the Jamaican flag raised for the first time, marking Jamaica’s independ- ence and the dawn of a new era. The national parade, flag-raising ceremo- ny and fireworks were held at the National Stadium with the evening’s events begin- ning at 11 p.m. More than 20,000 people gathered at the venue for the night’s cele- brations. At one and a half minutes to midnight, the first verse of the British anthem was played. The lights on the 60-foot pylons were put out and darkness descended upon the arena. In the hush that followed, the Union Jack, which waved over Jamaica for 307 years, was hauled down. Then 30 sec- onds to midnight, the lights came on again and the Jamaican flag was raised to the top of the flagpole. Then, both verses of the national anthem were played. DIGNITARIES At the ceremony were the governor, Sir Kenneth Blackbourn, Jamaica’s first gover- nor general, his wife, Lady Blackbourn, and Jamaica’s premier, Sir Alexander Bustamante, who was later sworn in as prime minister. Also present were Princess Margaret, who was representing The Queen, and her husband, the Earl of Snowdon. There were also dignitaries from many countries such as the United States, Australia, Pakistan and the United Kingdom. This aspect of Jamaica’s celebration of independence was the most significant for former prime minister, Edward Seaga. “There was a glorious display of fire- works that went on for quite a while. It was very emotional because I was very involved in the event. I campaigned for it (Independence). It brought me to tears,” BROOKLYN, NY: JAMAICANS IN the diaspo- ra in Canada, the United Kingdom and the United States are being invited to church on Monday, August 2, 2010, to pray for the nation of Jamaica, its citi- zens and its leaders. The event has received the full support of the lead- ers of Jamaica, including the Governor General and the Consul General of Jamaica in New York, Geneive Brown Metzger, and is one of a number of events that will collectively mark the island nation’s 48th Anniversary of Independence from British colonial rule in l962. Governor General, Sir Patrick Allen, in his state- ment, commended members of the clergy and Intercessory Prayer Ministry International (IPMI) for the bold step in organizing and hosting this initiative in the diaspora, “which seeks to help miti- gate conditions, and lead us to the source of divine Providence. Appeals, peti- tions, entreaties between people are elements in con- trolling the affairs of nations, but prayer moves heaven.” In light of recent events in Jamaica, Sir Patrick Allen said that “this initia- tive is ...timely...continue praying for the weak and vulnerable, and for the peace and prosperity of Jamaica.” COLLABORATING Consul General Geneive Brown Metzger stated that the Jamaican Consulate is pleased to be collaborating with the Intercessory Prayer Ministry International (IPMI) and the group of concerned clergy from the Jamaican Diaspora, to stage the spe- cial Day of Prayer and Fasting for Jamaica. According to Metzger, “These are indeed very chal- lenging times for our nation as we continue to grapple with the diverse and critical issues for which we must seek Divine inter- vention. It is therefore heartening to know that IPMI continues to lead the way in mobilizing the Jamaican Diaspora in this fashion. Prayer... must be the arsenal in our war against crime, economic adversity and social decay.” The group of concerned clergymen involved with planning and coordinating the event includes; Rev Dr Samuel Vassel (Bronx Bethany Church of th Nazarene); Rev Dr A.G. Quarrie (Bronxwood Int’l Church of God); Rev Dr H. Dennis Campbell (Rehoboth Open Bible, NY); Rev Dr Wenton Fyne (Beulah Church of the Nazarene, NY) ; Rev Andrew Bennett (Elim Missionary, NJ); Rev Dr Fedlyn Beason & Desyouth Chambers (Davie Church of God, FL); Rev Dr. Joel Edwards( former General Director of the United Kingdom Evangelical Alliance); Rev David King (Association of Jamaican Nationals, Birmingham, UK); and Rev Dr Audley James (Revival Times Tabernacle, Toronto, Canada). A number of places of worship in the United States, Canada and the United Kingdom will open their sanctuaries through- out the day for, “those per- sons concerned about the growing moral declension on the island of Jamaica”, declared Rev Newton Gabbidon, the central plan- ning committee chairman and founder/president of IPMI, Inc., a not-for-profit, non-denominational organi- zation based in Brooklyn. This is the sixth year that the Jamaica Diaspora Day of Prayer and Fasting is being held throughout the Jamaica Diaspora. Last year, 25 centres participated. The all-day prayer and fasting will conclude with a special service at each of the venues, starting at 7:30 p.m. There will be a special offering taken to benefit charities in Jamaica. For a complete listing of the prayer centres and addi- tional information on the ‘Day of Prayer and Fasting’, you may visit www.goipmi.com or call: 718-241-2162. feature ‘Pray for the peace and prosperity of Jamaica’ - GG Sir Patrick Allen ‘The all-day prayer and fasting will conclude with a special service at each of the venues, starting at 7:30 pm. There will be a special offering taken to bene- fit charities in Jamaica.’ A cake made for the Independence celebrations. The Gleaner Leather briefcases bearing the Jamaica coat of arms. JAMAICA CELEBRATES Remembering ‘62 Please see JAMAICA, 16 THE WEEKLY GLEANER www.jamaica-gleaner.com JULY 26 - AUGUST 1, 2010 • 15

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Page 1: Jamaican Independence 2010

JUST BEFORE midnight on August 5,1962, the British Union Jack was low-ered and the Jamaican flag raised for

the first time, marking Jamaica’s independ-ence and the dawn of a new era.

The national parade, flag-raising ceremo-ny and fireworks were held at the NationalStadium with the evening’s events begin-ning at 11 p.m. More than 20,000 peoplegathered at the venue for the night’s cele-brations.

At one and a half minutes to midnight,the first verse of the British anthem wasplayed. The lights on the 60-foot pylonswere put out and darkness descended uponthe arena. In the hush that followed, theUnion Jack, which waved over Jamaica for307 years, was hauled down. Then 30 sec-onds to midnight, the lights came on againand the Jamaican flag was raised to the topof the flagpole. Then, both verses of thenational anthem were played.

DIGNITARIESAt the ceremony were the governor, Sir

Kenneth Blackbourn, Jamaica’s first gover-nor general, his wife, Lady Blackbourn,and Jamaica’s premier, Sir AlexanderBustamante, who was later sworn in asprime minister.

Also present were Princess Margaret,who was representing The Queen, and herhusband, the Earl of Snowdon. There werealso dignitaries from many countries suchas the United States, Australia, Pakistan

and the United Kingdom.This aspect of Jamaica’s celebration of

independence was the most significant forformer prime minister, Edward Seaga.

“There was a glorious display of fire-works that went on for quite a while. It wasvery emotional because I was very involvedin the event. I campaigned for it(Independence). It brought me to tears,”

BROOKLYN, NY:JAMAICANS IN the diaspo-ra in Canada, the UnitedKingdom and the UnitedStates are being invited tochurch on Monday, August2, 2010, to pray for thenation of Jamaica, its citi-zens and its leaders.

The event has receivedthe full support of the lead-ers of Jamaica, includingthe Governor General andthe Consul General ofJamaica in New York,Geneive Brown Metzger,and is one of a number ofevents that will collectivelymark the island nation’s48th Anniversary ofIndependence from Britishcolonial rule in l962.

Governor General, SirPatrick Allen, in his state-ment, commended membersof the clergy andIntercessory PrayerMinistry International(IPMI) for the bold step inorganizing and hosting thisinitiative in the diaspora,“which seeks to help miti-gate conditions, and lead usto the source of divineProvidence. Appeals, peti-tions, entreaties between

people are elements in con-trolling the affairs ofnations, but prayer movesheaven.”

In light of recent eventsin Jamaica, Sir PatrickAllen said that “this initia-tive is ...timely...continuepraying for the weak andvulnerable, and for thepeace and prosperity ofJamaica.”

COLLABORATINGConsul General Geneive

Brown Metzger stated thatthe Jamaican Consulate ispleased to be collaboratingwith the IntercessoryPrayer MinistryInternational (IPMI) andthe group of concernedclergy from the JamaicanDiaspora, to stage the spe-cial Day of Prayer andFasting for Jamaica.According to Metzger,“These are indeed very chal-lenging times for ournation as we continue tograpple with the diverseand critical issues for whichwe must seek Divine inter-vention. It is thereforeheartening to know thatIPMI continues to lead the

way in mobilizing theJamaican Diaspora in thisfashion. Prayer... must bethe arsenal in our waragainst crime, economicadversity and social decay.”

The group of concernedclergymen involved withplanning and coordinatingthe event includes; Rev DrSamuel Vassel (BronxBethany Church of thNazarene); Rev Dr A.G.Quarrie (Bronxwood Int’lChurch of God); Rev Dr H.Dennis Campbell (RehobothOpen Bible, NY); Rev DrWenton Fyne (BeulahChurch of the Nazarene,NY) ; Rev Andrew Bennett(Elim Missionary, NJ); RevDr Fedlyn Beason &Desyouth Chambers (DavieChurch of God, FL); Rev Dr.Joel Edwards( formerGeneral Director of theUnited KingdomEvangelical Alliance); RevDavid King (Association ofJamaican Nationals,Birmingham, UK); and RevDr Audley James (RevivalTimes Tabernacle, Toronto,Canada).

A number of places ofworship in the United

States, Canada and theUnited Kingdom will opentheir sanctuaries through-out the day for, “those per-sons concerned about thegrowing moral declensionon the island of Jamaica”,declared Rev NewtonGabbidon, the central plan-ning committee chairmanand founder/president ofIPMI, Inc., a not-for-profit,non-denominational organi-zation based in Brooklyn.

This is the sixth year thatthe Jamaica Diaspora Day ofPrayer and Fasting is beingheld throughout theJamaica Diaspora. Last year,25 centres participated.

The all-day prayer andfasting will conclude with aspecial service at each ofthe venues, starting at 7:30p.m. There will be a specialoffering taken to benefit

charities in Jamaica.For a complete listing of

the prayer centres and addi-tional information on the‘Day of Prayer and Fasting’, you may visit wwwwww..ggooiippmmii..ccoomm or call: 718-241-2162.

feature

‘Pray for the peace and prosperity of Jamaica’ - GG

Sir Patrick Allen

‘The all-day prayer andfasting will conclude

with a special service ateach of the venues,starting at 7:30 pm.

There will be a specialoffering taken to bene-fit charities in Jamaica.’

A cake made for theIndependence celebrations.

TThhee GGlleeaanneerrLeather briefcasesbearing theJamaica coat of arms.

JAMAICA CELEBRATESRemembering ‘62

Please see JAMAICA, 16

THE WEEKLY GLEANER www.jamaica-gleaner.com JULY 26 - AUGUST 1, 2010 • 15

Page 2: Jamaican Independence 2010

said Seaga, who was min-ister of development andwelfare in the JamaicaLabour Party-led government.

The Jamaica Labour Partyformed the first governmentof independent Jamaica, hav-ing beaten the People’sNational Party, by polling72.88 per cent of the votersin the election that was heldon April 10, 1962. This wasafter the Jamaican peoplevoted against joining theWest Indies Federation in

1961.The lowering of the flag

was also a significant aspectof the celebration forMerrick Needham, who isnow a commissioner at theJamaica CulturalDevelopment Commission(JCDC).

“It was the Union Jackbeing lowered for the verylast time and the new flagbeing raised for the first,”said Needham, who was thedirector of programmes andproduction for the 1962 cel-ebration. He was the leadcommentator for theJamaica BroadcastingCorporation (JBC) and coor-dinated the JCDC’s cover-age of the Independencecelebration.

“There was concern thatthere would be trouble, butthe people behaved absolute-ly impeccably,” saidNeedham.

He also said that it was adifficult task to prepare forthe celebration that spannedthe entire island. It was alsoa challenging task for thetechnical crew at JBC wherehe worked at the time.

Current JCDC chairman,Hugh Nash, said he had towork across the island forthe celebrations.

“I was handling thingsoutside of Kingston. There

was something in every sin-gle parish and it was notconfined to the parish capi-tals,” Nash said.

For instance, inClarendon, there were cele-brations in Lionel Town,

May Pen and Chapelton. StCatherine had activities inSpanish Town, Ewarton andOld Harbour.

August 5, 1962 was alsothe national day of prayer.As such, dedication serviceswere held in every church inthe island with the followingtwo days being public holi-days. On August 6, therewere further celebrationsacross the island and August7 marked the opening ofParliament for independentJamaica. There was also anIndependence state banquet.On the same day, there werealso numerous street dances.For the period, approxi-mately 100 street concertswere organised by the JCDC.

In addition, Nash said,there was a fisherman’sregatta on every beach.

SPECTACULAR PARADEThe national float parade

was held on August 11. Morethan 5,000 people participat-ed in the giant parade withabout 90 floats. The paradestarted in Cross Roads andwent down Slipe Road, eastat Torrington Brigade,around North Race CourseRoad, down East RaceCourse Road, down EastStreet, west into HarbourStreet and up King Street.

The parade was led byMiss City of Kingston, Mitsy

Constantine. There werefloats from groups like theJamaica Youth Club Council,Jamaica IndustrialDevelopment Corporation,Alcan, Jamaica Man-ufactur-ers’ Association and Esso.

There were also marchersfrom the Jamaica LibraryService, footballers, horse-riders, tennis and hockeygroups, the security forces,and uniform groups like theCadets, Scouts, Guides,Boys’ Brigade and theparade of the churches withmassed choirs singing.

Effigies of LouiseBennett, Ranny Williams,Alexander Bustamante werealso present.

Jamaica’s Independencewas heavily publicised innearby territories, especiallyin the Panama Tribune.

In addition, The GleanerCompany and N.V. Phillips ofLondon made ten 23-inchtelevision sets available forthe viewing of the celebra-tion at Victoria Park,Kingston.

Leading up to the celebra-tions, certain key things hadto be finalised. The design ofthe flag was chosen througha collaborative effort by gov-ernment officials. The motto,ÔOut of many, one people’,was chosen by Legislature in1962. The national anthemwas written by ReverendHugh Sherlock, while themusic was provided byRobert Lightbourne. Thenational symbols were cho-sen by a select committee inthe Jamaica HorticulturalSociety.

Nash said volunteersplayed a key role in the ‘62

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WAITING IN THE RAIN: Beneath a solitary umbrella, at Montpelier station onWednesday, a group of little Brownies and Girl Guides huddled together,awaiting the arrival of Princess Margaret.

Page 3: Jamaican Independence 2010

celebrations. Without acopy of the actual figures,Nash estimates there wereabout 500 volunteers in eachof the 12 parishes outsideKingston and St Andrew.That means there wouldhave been approximately6,000 volunteers in thoseparishes. In the CorporateArea alone, Nash said therecould have been another5,000 volunteers.

As for the cost, Nash saidthe British governmentassisted Jamaica with proj-ect advisors.

Seaga was also unable to

give actual figures.However, he said Britainalso gave Jamaica a partinggift, having been its sover-eign for more than 300years.

“Britain converted someexisting loans to grants andsigned over the lands at UpPark Camp to theGovernment of Jamaica. Itwas not intended to be asubstantial value; it wasmore a token and symbolic,”Seaga told TThhee WWeeeekkllyyGGlleeaanneerr..

A TIME OF HAPPINESSAt that time, Needham

said, it was a time of happi-ness for the people.

“I think there was a lot ofhope in those days. It wasthe beginning of progress interms of education and

marked deterioration in oth-ers like criminality,”Needham said.

Since that time, a fewthings have changed. Afterthe flag-raising ceremony in1962, there was a much

smaller celebration for theanniversary ofIndependence in 1963. Butin 1964, a structuredJamaica Festival began,where there was a parade,as well as a showcase of

arts. In 1997, whenEmancipation Day wasintroduced as a national hol-iday on August 1, celebra-tions started from July 31

and ended on IndependenceDay, August 6. As time pro-gressed, Jamaica Festivalwas separated from theJamaica Festival of the Arts.

feature

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DDeeoonn GGrreeeenn pphhoottoo..Patrons at an Independence party for Jamaicans in London.

The minister of development and welfare, Hon Edward Seaga (left) pre-senting to the prime minister, Hon Sir Alexander Bustamante, the firstframed copy of the quality colour poster produced by the GovernmentPublic Relations Office as part of the literature prepared by thatDepartment in connection with the recent Independence celebrations, atthe Prime Minister’s Office.

TThhee GGlleeaanneerrThe group of overr 500 children who twisted, sang, watched cowboy filmsand enjoyed ice cream, fudge and many other niceties at the Children’sIndependence treat on Saturday evening last. The treat was given by theCustos of St. Andrew, the Hon. A Russell Graham at his home onBirdsucker Lane, St. Andrew. There was a twisting competition and prizes

Page 4: Jamaican Independence 2010

feature

www.jamaica-gleaner.com THE WEEKLY GLEANER20• JULY 26 - AUGUST 1, 2010

INVESTMENTOPPORTUNITIES

OVERVIEW

Tourism services sector.

AS A tourism destina-tion, Jamaica offers aunique blend of a

vibrant culture, naturalbeauty and wide offering offacilities spanning hotels,attractions and shoppingcentres.

During the review period,(April 1, 2008 - March 31,2009) three major tourismprojects were facilitated byJamaica Trade and Invest(JTI). These were: Bluewaters, Hospiten Jamaicaand McMullens Properties.

However, the significantcontribution of 37 per centto total capital expenditurewas primarily due to theongoing construction ofhotel projects such as theFiesta Hotel, the IberostarBeach Resort and Spa, thePalmyra Resort and Spa andSecrets Resort and Spa andthe Rainforest JamaicaBobsled at Mystic Mountain.

The tourism sector istherefore a significant con-tributor to real gross domes-tic product (GDP) with therapid expansion in accom-modation and attractionsover the last decade theresult of strategic efforts toexpand thecountry's capacityto host visitors.

In 2008, total stopoverarrivals amounted to morethan 1.7 million persons, a3.9 per cent increase whencompared to the previousyear. The island currently

has over 24,000 roomswith an additional 10,000rooms to be built by 2012.

HOTEL INVESTMENTINCENTIVES

- Hotel Incentive Actproviding 10-15 years of taxrelief for 250 rooms ormore and a minimum of 10bedrooms. Duty freeimportation of capital itemsfor construction andfurnishing of hotels for 15years. The legislation of theResort Cottages IncentivesAct (RICA) allows smallerresort cottage or villaoperations access to fullincentives, with Income Taxrelief for seven years.

- Recently, Jamaicaimplemented an economicstimulus package withspecific provisions for thehotel and tourism sectorwith a reduction in theapplicable GCT from 8.25per cent to 4.125 per cent .

- The Development Bank ofJamaica has established aspecial J$ 500M

loan facility to be providedas working capital assis-tance for medium and smallproperties and attractions

— skilled hospitalityWorkforce with 4,000trained graduates annually.

— bilateral investment andTax Treaties with North

America and Europeannations.

InformationCommunicationsTechnologies (ICT)/Knowlege Services

There has been a dramaticshift in the product offeringof the sector from its initialbeginnings as primarily one

dominated by companieslargely confined to dataentry, hardware and software suppliers andvendors, as well asdesign/manufacturing orassembly.

The sector is evolvingrapidly and has moved upthe value chain to offer morecomplex services in theareas of Business Process

Outsourcing (BPO),Information TechnologyOutsourcing (ITO) and

various types of CustomerServices Outsourcing (CSO).

During the period underreview, a total of 4 softwarecompanies, 8 Contact cen-tres and 2 Telecoms compa-nies became operational.Jamaica is currently ranked6th in the Latin America and

Caribbean region for near-shore operations attractive-ness. Notwithstanding thechallenges to the sector'sdevelopment, for example,high electricity costs and adearth of suitable ICT readyoffice space, the ICT sectorcontinues to record signifi-cant growth in Jamaica inrecent years, due to the ben-efits offered to investors.

Notwithstanding thechallenges, the ICT sectorrecorded significant growthin Jamaica in recent years.In 2008 alone, the projectsfacilitated by JTI in this arearecorded investments ofmore than $14 billion inFY2008/09 and creatingmore than 3,500 jobs.

JAMAICA'S VALUEPROPOSITION FOR ICTINVESTMENTS:

- High-speed wired andwireless telecommunicationsinfrastructure

- World class telecommuni-cations infrastructure withstate-of-art mobile

telephony, internationalvoice and data services andfibre optic capability

- A strong business envi-ronment

- Political Stability- Nearshore location for

US and Canadian markets- Educated English

speaking workforce- Other Investment

Incentives

MANUFACTURING Exemptions from income

tax for up to ten years;import duties on raw materi-als and machinery; duty freetreatment of raw material

and capital goods for anindefinite period; Income taxrelief for an indefinite

period; accelerated depre-ciation; Relief from GCT oncapital items purchased forplant upgrading and mod-ernization, etc.

- Agriculture: Income taxand duty concession for fiveto ten years (renewable.)

- Mining: Import duty con-cession on capital items,lubricating oils, grease

and other chemicals- Skilled WorkforceThe sector also enjoys

several Government ofJamaica incentives thatallow forthe reduction in thetime allotted for depreciat-ing the cost of capital equip-mentand the removal of thecustoms user fees payable oncapital goods and raw mate-

Page 5: Jamaican Independence 2010

THE WEEKLY GLEANER www.jamaica-gleaner.com JULY 26 - AUGUST 1, 2010 • 21

JAMAICArials. In addition, financ-

ing to the sector is madeavailable by the Governmentthrough the DevelopmentBank of Jamaica and the EX-IM Bankat relatively lowerrates than obtains at thecommercial banks.

d. Creative IndustriesThis sector includes film,

music, fashion, craft, per-forming arts, publishing andother creative services.

VALUE PROPOSITION- Supportive government

policies including incometax relief of up to fifteen

years and duty free impor-tation of plant equipmentand machines

- Global recognition of thestrong cultural JamaicanBrand

- Highly skilled film andmusic crews

- Wide range of accommo-dations and film locationsites

Policies and Programmes:Investors wishing toproduce films in Jamaicamay benefit from incentivesunder the Motion Picture

Industry EncouragementAct, such as tax duty

waivers. JTI makes recom-mendations to the Ministryof Finance allowing incometax relief for film producers,for a period not exceedingnine years, after the firstrelease of the motion pic-ture. The investor couldalso benefit from an invest-ment allowance of 70 percent of the total expenditureon the production facilitiesand this may be carried for-ward. In addition, theinvestor could also beexempt from the payment ofimport duty on equipment,machinery and materials forthe building of studios or foruse in motion pictureproduc-tion. It is also expected that,the benefits of the UK/Jamaica Co-productionTreaty will be expandedunder the EconomicPartnership Agreement(EPA) the industry to twentysix (26) new markets inEurope, offering immenseopportunities for Jamaica'screative sector.

IN

2008-2009 in KeyEconomic/BusinessIndicatorsJamaica is

ranked 6th in the LatinAmerica and Caribbean

region for nearshoreoperations attractiveness

for the ICT sectorJamaica is rankd 60th of133 countries in Travel

and TourismCompetitiveness and pub-

lished by the WorldEconomic Forum 2009.Within the Americas,

Jamaica is ranked 10th of26 countries

SOURCE: An overview fromthe annual report (2008-2009)of the Jamaiaca Promotions

Corporation

Page 6: Jamaican Independence 2010

The JN Group grew itsprofits the traditionalway, primarily

increasing its loan andinvestment revenues for the2010 year ended March 31,says General Manager EarlJarrett.

Consisting of JamaicaNational Building Society(JNBS) and its subsidiaries,the JN Group recorded a$1.2 billion after-tax surplusduring the year.

This represented a sixpercent increase, or approxi-mately $69 million over theprevious year.

“This growth resultedfrom the $381 millionincrease in our operatingsurplus,” said Mr Jarrett,“and, the operating surplusexpanded by 30 percent to$1.6 billion.”

In his analysis, CarltonBarclay, assistant generalmanager, finance, adminis-tration and planning, saidthat the buoyant operatingsurplus itself was based on a13 percent growth in inter-est on loans to $5.2 billion,

along with a 36 percent risein interest on investments to$8.5 billion. Interest expensejumped 30 percent to $6.4billion, leaving net interest

revenue of $7.3 billion.He pointed out that other

operating revenue fell bysix percent to $3 billion andoperating expenses werecontained at $8.7 billion,a rise of 10 percent,ultimately tying back to theoperating surplus. Revenuegrowth was boosted by anaggressive marketing pro-gramme aimed at attractingdeposits with attractiverates.

The Group achievedgrowth in several of its keyindicators, as new initiativeswere launched to drive busi-ness and help members ofthe Society to weather theeconomic crisis, he stated.This was achieved against

the background of one themost challenging periods inthe 136 year history ofJNBS; and the adjustmentsin the Jamaican economy.

In 2009, there was an$873 million unrealized for-eign exchange gain accom-panied by a $197 milliongain on the disposal of abusiness unit. This was off-set by $561 million impair-ment loss on equities and alarge $650 million tax bill.The smaller $474 million2010 tax bill has thus result-ed in a slightly higher profitalthough there were no com-parable unrealized gains orgains from disposal of busi-ness units or impairmentlosses on equities.

The JN Group also startedthe process of enhancingoperational efficiency fromas early as 2007. “We havebeen reshaping our internalprocesses and developingnew service channels suchas our ATM and onlinefacilities to drive down costswhile improving servicedelivery,” Mr Barclayexplained.

He said that investmentfor the fiscal year totaled$52 billion, up 17 percent onthe previous year, while thesavings portfolio of $67.7billion grew 14.5 percent.And loans totaled $43.4 bil-lion, up 13.3 percent on theprior year. And said,“Overall, we had a decentperformance.”

The finance executivemaintained that “Our bal-ance sheet continues toshow positive growth, whichis indicated by the increasein our investment and loanportfolios, our savings andcapital and reserves.”

Mr. Jarrett noted thatprogrammes were alsolaunched to assist membersto weather the economiccrisis with rebates providedto targeted groups ofmortgagors and the buildingsociety also dropping itsmortgage upkeep savingsrequirement.

The new ‘MembershipMatters’ customer-servicemantra was adopted lastyear when a survey revealedthat many of our memberswere not aware of theadvantages open to them.The mantra was aimed atreminding members aboutthe many benefits they canderive from their member-ship in the building society.

“Another key initiative,which supported memberloyalty and revenue growth,was a series of financialplanning sessions in loca-tions across the island andin its key international mar-kets, to which members wereinvited during the year,” hestated.

At these sessions memberswere informed about thenature of the global andnational financial crisis, howthe JN Group was respond-ing, and provided withoptions for the managementof their financial portfolios.

“Despite the fact thatinterest rates fell, we record-ed strong growth in interestincome,” Jarrett pointed out.

“The investment portfolioalso recorded an increase,indicating that membershave responded to ouradvice that, even in thesedifficult times, they shouldcontinue to save.”

feature

www.jamaica-gleaner.com THE WEEKLY GLEANER22 • JULY 26 - AUGUST 1, 2010

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Head Office: 42 Battersea Rise, Battersea, London SW11 1EETel: 020 7223 7522 Fax: 020 7924 3897

Website: www.creteshipping.co.ukEmail: [email protected]

JN profits as loans, investments rise

CCoonnttrriibbuutteeddEarl Jarrett, general manager of the Jamaica National Building Society .

Carlton Barclay

In 2009,there was an$873 millionunrealized

foreignexchange

gain accom-panied by a

$197 milliongain on the

disposal of abusiness unit

Page 7: Jamaican Independence 2010

feature

THE WEEKLY GLEANER www.jamaica-gleaner.com JULY 26 - AUGUST 1, 2010 • 23

THE ONE Love ReggaeFestival, which takesits name from one of

the most momentous eventsin Jamaican popular culture,is scheduled for August 6-8in Hainault, North London.

According to organisers,the event will feature reggaeacts such as Luciano, TippaIrie and the veteran WinstonMcAnuff. But there will alsobe a trade fair, and perform-ances by spoken wordartistes.

The festival was first heldlast year with several ofBritain’s leading sound sys-tems and local reggae actsdominating its card. Thisyear, however, music willshare the spotlight withpoets.

The One Love ReggaeFestival was inspired by theApril 1978 Peace Concert atthe National Stadium in StAndrew, Jamaica, where anall-star cast performed tohelp ease tension among

politically aligned gangs.

PEFORMERSIt featured performers like

Peter Tosh and Bob Marleyand was attended by MickJagger of the RollingStones. During his perform-ance, Marley brought thenprime minister, MichaelManley, and oppositionleader Edward Seagaonstage for a symbolicclasping of hands.

Tickets are £40 a day or £90for the whole weekend. Visitwww.onelovefestival.co.uk formore information.

One Love FESTIVALThe One Love ReggaeFestival was inspired

by the April 1978Peace Concert at theNational Stadium inSt Andrew, Jamaica

DON LETTS“I remember back in the mid-seventies when the only

white people in the dance would be punks like JohnnyRotten and Joe Strummer, friends I’d taken there.

Nowadays, when you go to a dance its like unitednations! People drawn together by a sound that prettymuch began its journey in Jamaica on 6thAugust,1962.

The One Love Festival not only celebrates the island’sindependence but also the creation of bass culture itselfand in so doing, the part it’s playedin uniting the people.”

TIPPA IRIEJamaica is special. It

is love. It is passion. Itis music. It is life! ForJamaica IndependenceDay, I will be on stageat the One LoveFestival celebratingthe liberation of thenation. Come downand say ‘HelloDarling’, celebrate‘Stick to my Roots’and spread the vibes!

Lovely Quarter Acre Lotsin Westmoreland, Jamaica

Whitehouse Meadows at Robin’s River, Westmoreland

1km from Sandals Whitehouse and 10 mins from Bluefields Beach

Starting at: £13,000.00 | USD $19,000.00

Contact: [email protected]

or 876-922-2288 or 876-922-2271or visit www.landsalesjamaica.com

Contact Madge on: 01865 427 043 or Contact Pauline on: 077 0305 9547

Hartwell GardenMay Pen , ClarendonA beautiful bungalow, well maintained with front and back gardens, and fruit trees with:• 3 double bedrooms • 1 single bedroom with en suite shower room• 1 large sitting room • 1 large separate dining room• 2 bathrooms with bath and shower • 1 utility room • 1 kitchen • 1 store room

£85,000

Hot and cold water plus 110w and 220w electricity supply

MAY PEN, CLARENDONHALF ACRE

LUSH GREEN HILLY RESIDENTIAL LAND FOR SALE

in may pen clarendon with all amenity and lots of returnees price 1.9 mil Jamaican dollars

Contact: 079 5710 7072

Holiday let Ocho RiosLOVELY APARTMENT

Large balcony, private beach, 10 mins to Ocho Rios,

gated community, sleeps 4£200 first week, £100 pw thereafter

Call 0191 456 1142Email: [email protected]

JULIAN MARLEYJamaican culture is a

massive force that hasspread across theglobe, right from whenmy father was firstmaking music throughto the current day.

I’m looking forwardto celebrating the truespirit of JamaicanIndependence Day atthe One Love Festival.We will be bringingpeace and love to all!

Page 8: Jamaican Independence 2010

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www.jamaica-gleaner.com THE WEEKLY GLEANER24 • JULY 26 - AUGUST 1, 2010

POSITIVE JAMAICANvibrations will create asong and dance about

opportunities, access andachievements within ourlocal communities on August21 in Longford Park andStadium, Trafford.

At the heart of the festivalis a desire to strengthen cul-tural and intergenerationalbonds, and promote personaland community developmentto contribute to safe, happyand prosperous communitiesacross Greater Manchester.

There will be a plethora ofactivities that are commonlyassociated with theCaribbean including schoolground dandy shandy,dominoes, netball andathletics. and authenticJamaican food will beavailable from the localcommunity and M&MCaribbean Spice.

Of course there will be reg-gae in the park, and friendsand families will be able todance in and out of a CareersFair, sporting competitions,talks and discussion on a

range of topical issues, a funfair and a good old-fashionedconcert to polish things off.

Event organizer Dr JacquiStanford said, ‘The festival isa celebration of community -shining a light on localpeople and the things we dothat make our communitiesthe distinctive places theyare. We are looking to

celebrate good news fromacross all our localcommunities and invite any-one with a story to submit it;everything will beconsidered for a shoutout’.

The Jamaica DayCommunity Festival is foreveryone, regardless of her-itage, background or race;it is a gift from the black

community to GreaterManchester.

Thanks to the GreaterManchester High Sheriff’sTrust, Salford UniversityTrafford Housing Trust andZolfo Cooper for supportingthe vision.Let’s get togetherand feel alright!

VViissiitt jjaammaaiiccaaddaayy..ccoo..uukkaanndd rreeggiisstteerr ffoorr eevveennttss

Jamaica Day Community Festival set tospice up the city of Manchester

CCoonnttrriibbuutteeddA cross-section of the crowd at Jamaica Day.

[email protected]

The Weekly Gleaner

The WeeklyGleaner

TheWeekly Gleaner

Page 9: Jamaican Independence 2010

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THE WEEKLY GLEANER www.jamaica-gleaner.com JULY 26 - AUGUST 1, 2010 • 25

Crea

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: 079

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.org

.uk

Saturday 7 August @ 6.30pmSaturday 7 August @ 6.30pm

Adrian Boult Hall, Birmingham Conservatoire,

Adrian Boult Hall, Birmingham Conservatoire,

Paradise Place, Birmingham B3 3HG

Paradise Place, Birmingham B3 3HG

Purchase your tickets now Purchase your tickets now

Box office Tel. 0121 303 2323 Box office Tel. 0121 303 2323

Book online at Book online at

www.uwisingersontour.com www.uwisingersontour.com

Tickets £20 (£10 under 16s) Tickets £20 (£10 under 16s)

Saturday 7 August @ 6.30pm

Adrian Boult Hall, Birmingham Conservatoire,

Paradise Place, Birmingham B3 3HG

Purchase your tickets now

Box office Tel. 0121 303 2323

Book online at

www.uwisingersontour.com

Tickets £20 (£10 under 16s)

For 50 years, the University Singers have distinguished themselves as one of the leading choral

For 50 years, the University Singers have distinguished themselves as one of the leading choral

groups in the Caribbean, widely noted for their versatility, spanning a varied number of musical

groups in the Caribbean, widely noted for their versatility, spanning a varied number of musical

genres including Classical, American Negro Spirituals, Jazz, Folk, Gospel and Local and International

genres including Classical, American Negro Spirituals, Jazz, Folk, Gospel and Local and International

Popular music. Based at the Mona Campus of the University of the West Indies (UWI) in western

Popular music. Based at the Mona Campus of the University of the West Indies (UWI) in western

Jamaica, a special feature of the choir’s repertoire is the original music of Caribbean composers and

Jamaica, a special feature of the choir’s repertoire is the original music of Caribbean composers and

a number of these composers have emerged from and are current members of the group.

a number of these composers have emerged from and are current members of the group.

For 50 years, the University Singers have distinguished themselves as one of the leading choral

groups in the Caribbean, widely noted for their versatility, spanning a varied number of musical

genres including Classical, American Negro Spirituals, Jazz, Folk, Gospel and Local and International

Popular music. Based at the Mona Campus of the University of the West Indies (UWI) in western

Jamaica, a special feature of the choir’s repertoire is the original music of Caribbean composers and

a number of these composers have emerged from and are current members of the group.

The Association of Jamaican Nationals in association with

The Association of Jamaican Nationals in association with

Birmingham City Council is proud to presentBirmingham City Council is proud to presentThe Association of Jamaican Nationals in association with

Birmingham City Council is proud to present

WWIICCBB pphhoottooFormer West Indies batting great Sir Everton Weekes meeting members of the Leeward Islands team before the start of their Caribbean Twenty20 Championship against Jamaica on Thursday night. Jamaica won by nine wickets.

Page 10: Jamaican Independence 2010

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www.jamaica-gleaner.com THE WEEKLY GLEANER26 • JULY 26 - AUGUST 1, 2010

®

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*In addition to the transfer fees applicable

to a transaction, a currency exchange rate set

by MoneyGram or its agent may be applied.©2008 MoneyGram. All rights reserved.

PRINCESS MARGARET STEPS DOWN the gangway of the BCAC airlin-er that brought her from London to Kingston for the JamaicaIndependence Celebrations, o Friday morning. Behind her is the Earlof Snowdon, followed by Miss Fiona Myddelton, Lady-in-waiting.