Category: Business

Wayne Willock

Play your part; SBA head

Micro, small and medium-sized enterprises (MSMEs) are being told they have the ability to contribute more significantly to the Barbados economy in the face of ongoing restructuring. However, President of the Small Business Association (SBA) Wayne Willock said small business operators needed answers to a range of issues that could hinder their progress. He was […]

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Flindt

Flindt closes its doors

Customers hoping for the specialty cakes and pastries from the popular Patisserie & Bistro Flindt in Holetown, St James this holiday season will have to look elsewhere. That is because after two decades “the changing climate” has forced the closure of the bakery and small restaurant known for its tasty treats with flamboyant designs. In […]

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Dr Arnold McIntyre

Skilled Barbadians leaving

With approximately three-quarters of the region’s highly-skilled said to be living abroad, two of Barbados’ key multinational partners want to see the issue of brain drain addressed if Caribbean economies are to prosper. However, officials are of the view that Barbados and other Caribbean countries must address a number of inefficiencies within the system and […]

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Anton Lovell

Rate hike

A year after Hurricanes Irma and Maria dealt a severe blow to the region, leaving behind hundreds of millions of dollars in damage and driving up insurance premiums, homeowners are facing the possibility of a second increase in as many years. However, one industry expert said the pending increase, which could take effect early next […]

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Caribbean hotelier calls for comprehensive review of regional airlift

A Caribbean hotelier is calling for a comprehensive review of airlift within region. Ralph Taylor, chairman of The Soco Hotel says the regional market is missing out on dual destination bookings from visitors due to the exorbitant cost of airline tickets and difficulties associated with travel. The former president of the Caribbean Hotel Association was […]

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Moisés Schwartz

IDB backs BERT

The implementation of the Barbados Economic Recovery and Transformation (BERT) programme is a step towards correcting years of Barbados living beyond its means. “It is a sound programme. I think it is a significant adjustment to the economy. Unfortunately there is no other way around,” said Moisés Schwartz, Regional Economic Advisor for the Caribbean Country […]

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Ryan Straughn

Get your house in order

The longstanding, controversial issue of state-owned entities not producing audited financial statements should soon be a thing of the past as Government continues its restructuring exercise. In fact, Minister in the Ministry of Finance Ryan Straughn announced on Friday that all state-owned enterprises with outstanding audited financial statements have been instructed to have their accounts […]

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Central Bank

Central Bank: ‘Nothing wrong with Z-numbered dollars’

Suggestions spreading on social media and mobile phone messages that banknotes carrying the prefix “Z” in serial numbers were fake were struck down by the Central Bank today. The Central Bank’s Deputy Director responsible for the nation’s currency Octavia Gibson, confirmed that the Bank does indeed issue banknotes with “Z” serial numbers. “From time to […]

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Dr Arnold McIntyre

Region in debt strangle

Caribbean economies are stuck in a vicious cycle of high debt and low growth, and unless a number of measures are put in place there is very little hope this situation would change any time soon, an International Monetary Fund (IMF) official has warned. Addressing the 33rd Adlith Brown Memorial Lecture at the Grande Salle […]

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Dr Arnold McIntyre

Concessions leaking revenue?

A top official of the International Monetary Fund (IMF) has suggested that Barbados and other Caribbean islands review the tax incentives they currently grant individuals and businesses. Deputy Division Chief in the Caribbean Division 1 of the IMF’s Western Hemisphere Department Dr Arnold McIntyre, expressed concern that regional governments could be losing millions of dollars […]

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Moisés Schwartz

Transparency key to development

Full independence of the Electoral and Boundaries Commission (EBC) and an establishment of an independent body to evaluate and investigate the Royal Barbados Police Force (RBPF) are two of several recommendations contained in a new Inter-American Development Bank (IDB) publication. The 564-page book, which explores the historical development and status of political and economic institutions […]

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Ryan Straughn

Straughn: ‘Lend to the laid-off’

Finance Minister Ryan Straughn has sought to give moral backing to any credit borrowed by newly laid-off government workers. And given that Government was in preparing to allocate one-fifth of its procurement budget to the displaced workers as contractors, they should not be of any adverse risk to banks and other lenders, he said. Under […]

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Ryan Straughn

Gov’t: online the way to go

Government is moving full steam ahead to ensure that more Barbadians have the opportunity to use digital currency instead of cash, says Minister in the Ministry of Finance Ryan Straughn. He said people conducting business must determine what platform best suits them and their business, but promised that the new Government will be leading the […]

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Inter-American Development Bank (IDB)

IDB approves US$100 million loan to Barbados

In the matter of a month, Barbados’ economic recovery effort has received yet another shot in arm, this time from the Inter-American Development Bank (IDB) who have approved a US $100 million loan to the island. The structure and content of the IDB loan program, which was approved Tuesday morning, are aligned to the US […]

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June Fowler

Not so fast…

The private entity representing thousands of former CLICO policyholders has requested an urgent meeting with Prime Minister Mia Mottley to address fears that many more of its members may die without receiving “one red cent” of their savings if Government’s recent bond exchange offer is applied to their investment.  President of the Barbados Investors and […]

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carifs

Banks leaving CarIFS?

After two decades of linking the nation’s commercial banks, there are indications that they may soon withdraw from the banking machine interconnection system known as CarIFS, Barbados TODAY has learned. Sources said the banks may seek to engage a similar service out of North America instead, should a plan to upgrade the current system, run […]

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ozone

Ozone still on the line

Ozone Wireless is clinging to life, four months after buckling under severe financial difficulties. This morning St Lucia-based telecommunications consultant with Ozone Lester Edwards, in an exclusive interview with Barbados TODAY revealed that the company has taken measures to boost its signal to impacted customers and will also be concentrating on growing its customer base. Two months […]

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