This out-turn reflects a 0.6 per cent increase over the April to June quarter, and is driven by a 1.1 per cent expansion in the services industry and 0.1 per cent growth in the goods industry, said PIOJ Director General, Dr. Wayne Henry. Manufacturing and construction, with out-turns of 1.5 per cent and 1.3 per cent respectively, were the star performers for the goods and producing industry, as agriculture, forestry and fishing remained flat, while mining and quarrying contracted by 8.6 per cent. Story Highlights The Planning Institute of Jamaica (PIOJ) is reporting that the country grew by an estimated 0.9 per cent for the July to September 2017 quarter, relative to the corresponding period last year. The Planning Institute of Jamaica (PIOJ) is reporting that the country grew by an estimated 0.9 per cent for the July to September 2017 quarter, relative to the corresponding period last year.This out-turn reflects a 0.6 per cent increase over the April to June quarter, and is driven by a 1.1 per cent expansion in the services industry and 0.1 per cent growth in the goods industry, said PIOJ Director General, Dr. Wayne Henry.He was speaking at the agency’s quarterly media briefing at the PIOJ’s head office in New Kingston on Wednesday, November 15.Dr. Henry said growth in the services industry was mainly driven by a strong 5.5 per cent out-turn in the hotels and restaurants sector; and electricity and water, which recorded 2.6 per cent.Other sectors recording notable out-turns were finance and insurance services, up 1.4 per cent; and transport and communication, up one per cent.Additionally, Dr. Henry said the wholesale and retail trade, repair and installation of machinery, and real estate, renting and business services sectors, each recorded increases of 0.5 per cent.Manufacturing and construction, with out-turns of 1.5 per cent and 1.3 per cent respectively, were the star performers for the goods and producing industry, as agriculture, forestry and fishing remained flat, while mining and quarrying contracted by 8.6 per cent.Dr. Henry advised that the economy grew by an estimated 0.3 per cent for the first nine months of the 2017 calendar year, between January and September.“This reflected projections of higher real value-added for the services industry, up 0.8 per cent, which outweighed an estimated contraction of 1.4 per cent in the goods producing industry,” he explained.The industries which recorded the largest increases include hotels and restaurants, up 3.8 per cent; manufacturing, up 1.8 per cent; electricity and water, up 1.2 per cent; and construction, up one per cent.Dr. Henry projects that the October to December quarter and the 2017/18 fiscal year will grow within the range of 1.5 to 2.5 per cent, pointing out that “general macroeconomic indicators and conditions augur well for the strengthening of economic growth”.
zoomImage Courtesy: Odfjell Norwegian shipping and tank terminal company Odfjell SE has finalized the sale of Odfjell Terminals Rotterdam (OTR).Odfjell Terminals sold its 100% ownership of OTR to the Netherlands-based company Koole Terminals BV.As informed, the sale will generate USD 100 million of cash proceeds to Odfjell.The move follows the announcement of American private equity firm Lindsay Goldberg (LG) regarding the disposal of its 49% shareholding in Odfjell Terminals and Odfjell’s decision on an outright sale of Odfjell Terminals’ subsidiaries OTR and Odfjell Terminals Maritiem (OTM).Odfjell earlier said the transaction is part of Odfjell Terminals’ efforts to cut debt.Specialized in seaborne transportation and storage of chemicals and other specialty bulk liquids, Odfjell has a fleet of some 83 ships, which trade both globally and regionally. The company’s tank terminal division consists of eight tank terminals and is part of a network of another 13 tank terminals partly owned by related parties.
New Delhi: Communication is key aspect in a team sport but Manu Bhaker believes that remaining “disconnected” with partner Saurabh Chaudhary has been the key to their golden run in four successive World Cups. The teenagers will be gunning for a podium finish at the 2020 Tokyo Olympics having already booked a quota place for the country. “We are not very connected. We are two very different things (individuals),” the 17-year-old Manu said when asked about her recipe of success having won her fourth mixed World Cup gold in Rio de Janeiro, last week. At 17, one is free from fear of failure which is a common thread binding the teenage duo as they simply like to concentrate on their individual performances. Also Read – Puducherry on top after 8-wkt win over Chandigarh”We don’t talk much. We are both on our own. We just focus on our individual performance. He doesn’t give much thought on my performance and neither do I think about his. I think that makes us fearless and we shoot for ourselves and perhaps because of that, we are doing well,” Manu explained. Manu will be among the 14 Indian shooters, who will represent the country at the year-ending World Cup Finals, scheduled to be held in Putian, China between November 17 and 23. Also Read – Vijender’s next fight on Nov 22, opponent to be announced later”I thought I will not be selected for World Cup final as I didn’t win any individual medals this year. I won all the mixed team gold with Saurabh. So it was unexpected but now that I have been selected, I am so happy and excited to go for the World Finals. I will work hard to do well,” she said. Last year, Manu had won a series of gold medals, which include the Guadalajara World Cup, Commonwealth Games and the Youth Olympics at Buenos Aires. There were also disappointments in store when she suffered a pistol malfunction during the 25m Rapid Fire pistol final at the Munich World Cup, forcing her to forfeit.