50 is the most expensive age as expenses stack up from mortgages, children, saving for retirement… and holidays

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekMoguldom NationFather Of 2 Sues Los Angeles Hospital After Wife Dies During ChildbirthMoguldom Nationzenherald.com20 Rules Genghis Khan’s Army Had To Live Byzenherald.comForbesThese 10 Colleges Have Produced The Most Billionaire AlumniForbesMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesComedyAbandoned Submarines Floating Around the WorldComedyNoteableyKirstie Alley Is So Skinny Now And Looks Like A BarbieNoteableyMoneyWise.com15 States Where Americans Don’t Want To Live AnymoreMoneyWise.com Friday 6 March 2015 4:57 am 50 is the most expensive age as expenses stack up from mortgages, children, saving for retirement… and holidays Show Comments ▼ People expecting to sit back and relax thanks to getting themselves into a comfortable financial position by the time they hit 50 years old, may not be quite as carefree as first thought.By 50, Britons have picked up a large bill, racking up more expenses than at any other time in life. The cost of mortgages, holidays, savings and living expenses steadily stack up in your 40s, peaking at the age of 50 to the tune of £27,230 a year.The good news is this begins to tail off, and by the age of 60 the bill drops to £20,000 a year.By retirement age, costs fall to the lowest of your life, shrinking to just £18,00 a year by the age of 70, a new report from Investec found.At the age of 50, it’s crunch time, when people are having to juggle a host of outgoings, spending money on mortgage payments, setting aside cash and making investments for the future while still paying for children and their education.At this age, people are also spending the most on holidays compared to any other age group and, as well as looking after children and teenagers, many are taking care of elderly parents.By the time people are approaching their 60th birthday, many have paid off the mortgage and children have flown the nest and are supporting themselves. whatsapp Share Lynsey Barber Tags: NULL whatsapplast_img read more

News / Boxing clever can help reduce the growing cost of empty container repositioning

first_img“The slowdown in US exports to China is one of those unintended consequences of politicians sometimes meddling with economics,” he said at last week’s TOC Asia Container Supply Chain conference in Singapore.A resolution to the trade tension would be “encouraging and helpful”, said Mr Nixon, considering the equipment imbalance on the transpacific trade is “really quite significant”.He added: “Half the boxes leaving the US for Asia are actually empty; the situation is pretty serious in terms of how much equipment we have to get back and the round-trip economics of that.”Indeed, he noted, ONE spends roughly $1bn every year moving empty equipment to align demand with supply, but the carrier is developing AI and machine learning solutions to better forecast where demand will be, and when.“A key goal is to better forecast patterns and changes so we can be more responsive and put equipment in the right locations, and not always have to rely on individual customer forecasts, which sometimes are not that accurate,” said Mr Nixon.Xaver Loehr, network development manager at Container xChange, said the digitisation of one-way container leasing could bring much-needed efficiency to container repositioning, creating big cost savings for carriers and shippers alike.“There’s massive potential to save costs on empty container repositioning,” he told The Loadstar.“It’s a huge pain for everybody. There will always be imbalances, that’s never going to be solved 100%, but nonetheless there are companies which do exactly the opposite move, and the xChange platform now has very strong coverage, so you can find containers anywhere in the world on a one-way lease basis.”Container xChange was created by Boston Consulting Group (BCG) following its 2015 study, which found empty container repositioning costs the industry up to $20bn a year. It was spun-off into an independent company and Mr Loehr said the platform allowed shipping lines, lessors, NVOCCs and freight forwarders to contract one-way leases online, rather than by phone and email. It costs carriers up to $200 per empty box move, he noted.“Carriers like to supply containers, but they’re also using the platform to find them when they don’t have equipment in certain locations,” he explained.Mr Loehr said the leases were SOC (shipper-owned containers), meaning instead of using a carrier’s assets, shippers “bring their own container” and only purchase the vessel slot.“The lease also has many more free days with xChange – generally 30-90 depending on the route – which helps avoid demurrage and detention scenarios.”With 300 members and 10-25 companies joining every month, the platform covers 2,500 locations globally and Mr Loehr said there were a “few thousand” transactions a month, with intra-Asia representing 55% of the volume.“When times are good more volumes are shipped and, especially with the vertical integration with the big guys now, there are many more locations where containers end up requiring repositioning,” Mr Loehr added. By Sam Whelan, Asia correspondent 16/04/2019 Costly empty container repositioning has been exacerbated by the US-China trade war, as more empty boxes than ever before head back to Asia.However, artificial intelligence (AI) and the digitisation of one-way container leasing could help alleviate the shipping industry’s US$20bn empty box problem.According to Jeremy Nixon (pictured above), chief executive of Ocean Network Express (ONE), the major impact from the trade spat so far has been to increase the existing trade imbalance between the US and China, rather than reverse it.last_img read more

Father of kids killed in Cape canal crash wanted in Michigan

first_imgAdvertisementTags: Cape Coralcrashmichigan LEE COUNTY, Fla. – The father involved in a deadly Cape Coral canal crash is wanted in Michigan on 14 felony charges, according to Chief Michael Veach at Mt. Morris Township Police Department.Kenneth Wayne Lawson is wanted for domestic violence, assault, and weapons offenses. Court documents show the charges stem from a June 2020 incident. The night before Thanksgiving, Lawson was involved in a crash where a car became submerged in a canal. Two of his sons were in the car, 7-year-old Titus Lawson and 10-year-old John Lawson. Titus was pronounced dead at the scene of the crash and John later died in the hospital from his injuries.The car was driving eastbound on NE 31st Street approaching the intersection of NE 5th Place, then drove through an empty lot, hit a canal bank, went airborne, then ended up in the canal. Cape Coral canal levels remain low even after recent rains June 17, 2021 Advertisement RELATEDTOPICS 27 Cape Coral bridges up for repairs after minor cracks found June 17, 2021 Lawson and Julia Drudy were in the car when it crashed but police have not said who was driving. Drudy told NBC2 she kicked out the windshield to get out of the car and was not driving. She claimed she wanted to go to police, but Lawson stopped her, stating he didn’t want to go to jail.Lawson’s family said he was not driving the car. Investigators confirmed drugs and/or alcohol are factors of the crash. Advertisement Cape Coral police said they can not arrest Lawson based on the warrant out of Michigan, stating it is not extraditable. Cape Coral break in foiled by barking dog June 17, 2021 Driver slams parked cars into Lehigh Acres home June 17, 2021 Advertisement AdvertisementDC Young Fly knocks out heckler (video) – Rolling OutRead more6 comments’Mortal Kombat’ Exceeded Expectations Says WarnerMedia ExecutiveRead more2 commentsDo You Remember Bob’s Big Boy?Read more1 commentsKISS Front Man Paul Stanley Reveals This Is The End Of KISS As A Touring Band, For RealRead more1 comments No arrests have been made for the deadly canal crash case. AdvertisementRecommended ArticlesBrie Larson Reportedly Replacing Robert Downey Jr. As The Face Of The MCURead more81 commentsGal Gadot Reportedly Being Recast As Wonder Woman For The FlashRead more29 commentslast_img read more

U.S. Keen to See China Speak Frankly

first_img News AvatarDaily NKQuestions or comments about this article? Contact us at [email protected] By Daily NK – 2012.08.14 10:45am Entire border patrol unit in North Hamgyong Province placed into quarantine following “paratyphoid” outbreak There are signs that North Korea is running into serious difficulties with its corn harvest Facebook Twitter The U.S. State Department has once again called on China to use its influence with North Korea to guide the country toward entering the international community. The call came in response to news that Kim Jong Eun’s influential uncle Jang Sung Taek is currently in Beijing. “We always encourage our Chinese partners to make our broader, more general agreed points with [North Korean] leaders when they are there, about the importance of coming back into compliance with their international obligations,” spokesperson Victoria Nuland told a press briefing on Monday. The U.S. hopes that “the new [North Korean] leadership will consider changing course, because that’s obviously what’s in the best interest of the North Korean people, in the best interest of peace and security,” she went on.Nuland outlined the new direction that the United States would like the North Korean regime to choose, striking a very familiar tone; “They can open their country, come back into compliance, and live in a place that respects human rights, respects the needs of their people, or they can keep doing what they’ve been doing and continue to face isolation and continue to face misery.” Officially, Jang’s visit is for the purpose of discussing joint commercial projects. However, experts assume that as one of the most powerful men in North Korea, he will actually address a broader agenda. RELATED ARTICLESMORE FROM AUTHORcenter_img News News U.S. Keen to See China Speak Frankly News SHARE North Korea tries to accelerate building of walls and fences along border with Chinalast_img read more

HEART Trust Offering Training for the Justice Sector

first_imgRelatedHEART Trust Offering Training for the Justice Sector Advertisements HEART Trust Offering Training for the Justice Sector UncategorizedMarch 12, 2006 RelatedHEART Trust Offering Training for the Justice Sectorcenter_img FacebookTwitterWhatsAppEmail The HEART Trust/NTA has collaborated with the Justice Training Institute (JTI) to offer training programmes for the justice sector.At the institute’s academy in Stony Hill, as well as its satellite facilities at Twickenham Park, St. Catherine and at Queen’s High School in Kingston, persons are being equipped to take on jobs as process servers, legal secretaries and legal assistants.Director of Training and Academic Affairs at the JTI, Edward Shakes, explained that the collaboration started a year ago, with HEART offering levels one and two competencies in the course areas.The JTI provides overall supervision throughout the duration of the six-month training programme.Meanwhile, Mr. Shakes told JIS News that the JTI was working with the National Council for Technical Vocational Education and Training (NCTVET) to develop standards for its court-reporting programme with the intention, over time, to develop a national qualification for court reporters.“The NCTVET is providing some technical support in the form of developing standards for the court reporters programme. That is non-monetary assistance and we would then have access to the curriculum and their standards that is applicable to Jamaica,” he informed.The arrangement is for two years and according to Mr. Shakes, it was expected that by the end of two year, which is this year, the institution would have some standards in place.In addition, he explained that the JTI has also received a $6 million grant from the HEART Trust to train 30 court reporters over a two-year period. This allocation will go towards defraying some of the cost of training material, instructor fees and utilities.He said that the funds received have been “tremendously beneficial”. He noted that the court reporting programme “is a expensive programme and the funds provided by HEART has been very beneficial where we have been able to use some of the funds for the purchase of training materials from overseas, assist with the maintenance and care of our transcription machine and as payment to our part-time lecturers.”Mr. Shakes told JIS News that so far, the public has been very responsive to the training offered by HEART. He said that the programmes were being advertised in the newspapers and more trainees would be recruited as soon as the current training period ended.For these lower level programmes, the entry qualification is three Caribbean Examination Council (CXC) passes, and in some instances, persons with a National Vocational Qualification (NVQ) level 1, may access the legal secretary programme and the legal assistant programme.“We bear in mind that the JTI programmes’ general entry requirements .is a minimum of four CXCs. Obviously, if someone has completed this programme with three CXCs, then that would certainly be considered,” he said. RelatedHEART Trust Offering Training for the Justice Sectorlast_img read more

UBC chemist helps create new compostable coffee pod

first_imgUBC chemist helps create new compostable coffee pod Dr. Zac Hudson believes your morning cup of coffee should be strong and guilt-free.That’s why the University of British Columbia scientist has spent the past three years creating a new fully compostable coffee pod with Surrey-based NEXE Innovations.“Every year more than 40 billion single-use coffee pods end up in landfill. If they’re made of plastic, they could be sitting there for hundreds or thousands of years,” said Dr. Hudson, an assistant professor and Canada Research Chair in Sustainable Chemistry. “We wanted to create a compostable pod to tackle this problem – and make sure the coffee still tasted great.”Enter the NEXE pod, which composts completely in as little as 35 days in industrial compost. The pods are made from two specially engineered components: an outer fibre jacket and a bioplastic inner capsule designed to break down into carbon dioxide, water and organic biomass – leaving no microplastic behind.Engineering new sustainable materialsIn order to create a fully compostable pod, Dr. Hudson – whose research focuses on the development of new materials to address issues of sustainability – had to formulate a new bioplastic.Traditional plastics are made from chemicals, or monomers, derived from fossil fuels. Bioplastics use monomers derived from biomass such as wood or plants.“We started out by importing bioplastics from overseas and trying them out for the pods we wanted to create. This helped us learn which materials worked well and which didn’t, so we could create new formulations in-house or with the help of our partners,” said Dr. Hudson, who is also now the Chief Scientific Officer at NEXE Innovations.There were a number of challenges to consider. Many compostable pods already on the market are soft-bottomed, exposing the coffee grounds to moisture and air and allowing them to go stale quickly. They also hold fewer coffee grounds than plastic pods, which can lead to a relatively weak brew.They also couldn’t look or feel too much like traditional plastic. “This has been a huge barrier to adoption of compostable pods in the past – consumers can’t tell them and regular plastic apart,” said Darren Footz, CEO of NEXE Innovations.The team eventually settled on a two-part solution:1. a bioplastic inner capsule made from polylactic acid (PLA) compounded with other natural ingredients that addresses moisture, air and heat issues and holds a large volume of coffee grounds.2. an outer jacket made from bamboo that still looks and feels like plant fibre.Tackling plastic waste with industry and governmentThe new bioplastic was tested in collaboration with Dr. Hudson’s research group at UBC, while the composting of the pods was tested at the Surrey Biofuel Facility, which handles all compost for the city of Surrey.“We are now making our own bioplastics at our facility in Surrey, and are looking to bring significant bioplastics manufacturing capacity to Canada,” said Dr. Hudson. “We’re also working on home composting solutions for our pods.”The pods are compatible with all Keurig K-Cup brewing systems and launched commercially this month – selling out of their entire launch inventory in one day. The company recently announced Nespresso-compatible pods set to begin production later in 2021.Funding for research and production was provided by the Natural Sciences and Engineering Research Council (NSERC) Engage grant; the Peter Wall Institute for Advanced Studies Wall Solutions Grant; and Agriculture and Agri-Food Canada (AAFC) and Natural Resources Canada’s (NRCAN) Plastics Challenge. In January 2021, NEXE Innovations received a $1-million investment from NRCAN to scale up manufacturing of their Nespresso-compatible pods.“Coffee drinkers are very discerning: if you make a product that is good for the planet, but the coffee tastes bad, they’re going to lose interest pretty quickly,” said Dr. Hudson. “We want our pods to be the best of both.” /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:Agriculture, British, Canada, carbon dioxide, Engineering, Government, Investment, microplastic, production, Professor, research council, resources, sustainability, sustainable, university, University of British Columbialast_img read more

Cuts to JobSeeker must be reversed

first_imgCuts to JobSeeker must be reversed Today the Morrison Government cuts the coronavirus supplement to JobSeeker, which means recipients will be forced to live on $44 a day.The meagre $50 per fortnight increase in the rate takes Australia from the lowest unemployment payment in the OECD to the second lowest ahead of Greece.Between 1.2 and 1.4 million are expected to be JobSeeker recipients based on current trends and the Government’s own estimates have 150,000 JobKeeper recipients likely to lose their jobs as that program ends.Parenting payments and youth allowance will also be affected by the reduced rate.A survey on Youth Allowance recipients found that 9 in 10 skip meals and 1 in 3 have withdrawn from their studies due to a lack of funds.The ACTU supports JobSeeker being increased to the rate of the combined JobSeeker allowance and the original Coronavirus supplement a liveable $80 a day.Quotes attributable to ACTU President Michele O’Neil,“This cut will force huge numbers of Australian workers into poverty and financial hardship. We call on the Morrison Government to increase JobSeeker to the liveable rate paid as the Coronavirus hit in 2020. Profits increased 8.9 per cent last year but working people in and out of work are being forced to make do with less.“The pandemic isn’t over and cutting JobSeeker isn’t only cruel, its economically flawed, what we need now is people with the capability to spend and the time to find a job.“These cruel cuts punish the unemployed and place downward pressure on wages for everyone else.“By cutting JobSeeker payments the government is forcing Australians still recovering from a pandemic and recession to live on $44 a day.“Culling the coronavirus supplement also cuts parenting payments and will disproportionately affect women and single parents.” /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:ACTU, Australia, Australian, coronavirus, Government, Greece, JobKeeper, JobSeeker, Morrison, Morrison Government, OECD, parenting, President, recession, unemployment, Youthlast_img read more

Gov’t Exploring new Wind Energy Sites

first_imgRelatedGov’t Exploring new Wind Energy Sites Advertisements RelatedGov’t Exploring new Wind Energy Sites Gov’t Exploring new Wind Energy Sites TechnologyMarch 31, 2010center_img RelatedGov’t Exploring new Wind Energy Sites FacebookTwitterWhatsAppEmail The Government will be exploring 22 new wind energy sites, to add wind generated electricity to the existing Wigton Windfarm 1, and the soon to be completed US $49 million Wigton 2, in Southern Manchester.Through an Inter-American Development Bank (IDB) grant of over US$700,000, sites will be researched for their commercial viability and, if viable, they will be developed and used to offer cheaper energy production. The research process will be completed in 18 months.“These sites have been selected from a high level map which was developed for wind intensity. But, we need to know that it is blowing at a constant rate throughout the day. That is what makes a wind site successful,” explained Group Managing Director of the Petroleum Corporation of Jamaica (PCJ), Dr. Ruth Potopsingh.She told JIS News that Wigton 1 and 2 will enable the country to save over US$ 2.5 million per year, on oil imports.“The beauty about renewable energy, especially wind, after you have made your capital investment, you do not need to buy fuel. That is the multiply effect of the benefits that can be gained from not having to buy fuel, after you have install your renewable energy devices,” she said.Professor of Physics at the University of the West Indies (UWI), Anthony Chen, who was part of a research team engaged in developing wind energy, as they responded to the oil crisis in the 1970s, said that turbines have been manufactured which make wind energy economically feasible.“When we started doing wind studies in the 1970s, it did not make much economic sense. With these massive turbines, it makes a lot of sense. You can produce electricity by wind and sell it at 20 cents (US), and still be profitable,” he stated.The current Wigton wind project will maximize wind potential and assist in meeting the renewable energy policy target of 11% by 2012, as well as offer health and environment benefits from operating clean, renewable energy facilities, as against traditional power plants.At the recent ground breaking ceremony in Rose Hill, Manchester, for the Wigton 2 project, Minister of Energy and Mining, Hon. James Robertson, said it will save the country much hard currency and, along with the soon to be established Liquefied Natural Gas (LNG) project, will drive lower electricity costs.“We will be using the new policy to drive a new Jamaica,” the Minister said.Mr. Robertson also told a recent energy forum in Kingston that the National Energy Policy would ensure that Jamaica develops a modern and efficient energy infrastructure and a diversified energy mix.“Jamaica is improving its infrastructure, developing key policies, preparing the legal and regulatory framework and making the requisite investment in research and development to ensure that our energy and mining sectors are competitive and sustainable,” he pointed out.In 2000, the PCJ formed its renewable energy subsidiary company, Wigton Windfarm Limited, and by April, 2004, the 20.7 megawatt facility was commissioned. The plant has been operating successfully for six years, with only minor interruptions due to hurricanes.“We have not lost our vision for seeing Jamaica transform its energy mix to one that is less petroleum dependent, to use our God given natural resources such as wind, hydro, solar, biomass and, ofcourse, wind to reduce our foreign exchange fuel related debt and address the important issue of environmental sustainability and climate change,” Dr. Potopsingh outlined.The Wigton site, with wind speed averaging 8.3 metres per second over six years of measurement, fulfilled the main criteria and was chosen for the development of the windfarm.The plant has been grid connected with underground cabling leading to a sub station on the site, which houses metering, transformer equipment and switchgrear. While the turbines generate electricity, they produce no pollutants harmful to the environment.Wigton Windfarm Limited is a wholly owned subsidiary of the PCJ, and forms part of the Government’s commitment to initiating renewable energy systems for Jamaica.last_img read more

Transport Authority to Target Illegal Operators

first_imgAdvertisements Transport Authority to Target Illegal Operators TransportOctober 19, 2012 FacebookTwitterWhatsAppEmail The Transport Authority will be rolling out a comprehensive programme to get illegal operations off the streets. Minister without Portfolio in the Ministry of Transport, Works and Housing, Hon. Dr. Morais Guy, made the announcement at the handing over of five Volvo buses to Montego Bay Metro Limited yesterday (Oct. 17), at the company’s depot in Bogue. He said that details of the programme will be announced shortly.  “Where illegal operators are on the road, the Transport Authority’s remit is to put order into the disorder.  We are going to be getting …those who are illegal operators off the streets,” he stated. He argued that it is not reasonable to have persons paying fees to operate legally and “doing all the necessary registration and documentation annually, and at the same time, there are illegal operators, who have not paid any fees or done any documentation, competing with them”. Turning to the taxi associations, the Minister opined that some of the groups are not properly serving their membership, or providing the service for which they were formed. He said further that there are too many associations competing for members, and the numbers could be rationalized to about three or four per parish.  “You can’t have one parish with all 12 and 15 associations, and each association is competing for members,” he argued. “I just want to say, going forward, that whereas we do not intend to have a public against a private interest in this country, everything has to be legal, regularized and regulated,” he stated. RelatedTransport Authority to Target Illegal Operatorscenter_img RelatedTransport Authority to Target Illegal Operators RelatedWork Commences on Granville to Retirement Road in St. Jameslast_img read more

Jamaica Poised to Gain Large Share of Global Nutraceutical Industry – PM

first_imgPrime Minister, the Most Hon. Portia Simpson Miller, says Jamaica is poised to gain a significant share of the fast growing global nutraceutical industry, which is estimated at US$270 billion.“I am a firm supporter of the nutraceutrical industry in Jamaica. My firm belief in, and unshakable support for this industry, is anchored in the view that it has the potential to transform the fortunes of our economy and society,” she said.The Prime Minister was delivering the keynote address at the launch of the National Nutraceutical Industry, at the Hope Zoo in St. Andrew, on March 5.The global nutraceutical industry is considered one of the fastest growing sectors worldwide. It is projected that by 2018, the sector will be worth US$600 billion with the opening of the Asian markets.Mrs. Simpson Miller pointed out that with the recent thrust to develop the local nutraceutical sector, the possible economic benefits for Jamaica are tremendous.“Thousands of new jobs can be created through mass cultivation and employment in labs and processing plants. There is the potential for increased revenue from greater earning power of new workers and there will be more foreign exchange through greater exports and the development of medical tourism,” she noted.Citing Jamaica’s rich tradition in folk medicine and its abundance of plants with proven medicinal properties, Mrs. Simpson Miller said there is no reason why the country cannot attract significant investments in this area.Declaring that the country is “sitting on a gold mine,” she informed that of the 160 plants declared as having medicinal properties worldwide, there are over 80 that are endemic to Jamaica.Mrs. Simpson Miller said with this in mind, her administration will be moving in a serious way to develop the local nutraceutrical industry, noting that this will form an integral part of a national strategic approach for ensuring economic growth, development, and job creation.She pointed out that the National Commission on Science and Technology has been charged with the mandate to regularise and develop a sustainable nutraceutical industry in Jamaica.“Today’s launch heralds the start of a system to encourage, regulate and monitor production locations, processes, and products to ensure that they meet national and international standards,” the Prime Minister said.Mrs. Simpson Miller  emphasised that moving forward, Jamaica must attract and engage large investors to maximise the wealth potential of the industry, adding that the National Nutraceutical Industry, through a Board, will facilitate, nurture, monitor, assist, and empower businesses, large and small, in realising the tremendous potential of the sector.“We want to move from the production of samples, to large scale operations,” she said.In the meantime, the Prime Minister hailed the work of local scientists, such as Dr. Henry Lowe, Dr. Manley West, and Dr. Albert Lockhart, for their pioneering role in the nutraceutical business and their enormous contributions to Jamaica.She also commended Professor Errol Morrison, the University of Technology, and the University of West Indies, for invaluable scientific research.Mrs. Simpson Miller further called for more Jamaicans to invest and participate in the growing sector.She said the government is working to include all stakeholders, and informed that a Memorandum of Understanding (MoU) will be signed with the Jamaica 4-H Clubs to involve some 8,500 youth in the sector.“The partnership in its initial stage will focus on the establishment of green houses and gardens and strengthening 4-H programmes within some institutions,” the Prime Minister explained. Jamaica Poised to Gain Large Share of Global Nutraceutical Industry – PM Health & WellnessMarch 6, 2015Written by: Athaliah Reynolds-Baker Story HighlightsPrime Minister, the Most Hon. Portia Simpson Miller, says Jamaica is poised to gain a significant share of the fast growing global nutraceutical industry, which is estimated at US$270 billion.The Prime Minister was delivering the keynote address at the launch of the National Nutraceutical Industry, at the Hope Zoo in St. Andrew, on March 5.The global nutraceutical industry is considered one of the fastest growing sectors worldwide. It is projected that by 2018, the sector will be worth US$600 billion with the opening of the Asian markets. Jamaica Poised to Gain Large Share of Global Nutraceutical Industry – PMJIS News | Presented by: PausePlay% buffered00:0000:00UnmuteMuteDisable captionsEnable captionsSettingsCaptionsDisabledQualityundefinedSpeedNormalCaptionsGo back to previous menuQualityGo back to previous menuSpeedGo back to previous menu0.5×0.75×Normal1.25×1.5×1.75×2×Exit fullscreenEnter fullscreenPlay RelatedVaccination is the Only Way to Prevent Measles – CMO RelatedMinistry of Health Issues Remindercenter_img FacebookTwitterWhatsAppEmail Advertisements Photo: JIS PhotographerPrime Minister, the Most Hon. Portia Simpson Miller (left), is presented with a book entitled: ‘Jamaica’s Nutraceuticals: Opening the Door to their Potential,’ by Scientist, Dr. Henry Lowe, at the launch of the National Nutraceutical Industry, at the Hope Zoo in St. Andrew, on March 5. RelatedHealth Ministry Assessing Economic Impact of Tobacco Controllast_img read more