One of Government’s special economic advisors is promising a comprehensive change to the doing business environment in Barbados in coming months as the Mia Mottley administration seeks to develop entrepreneurship and encourage more investments in the country. Economist Professor Avinash Persaud suggested that the doing business climate in Barbados was skewed in the favour of […]
Category: Business
Businesses, ranging from micro and small to medium size – MSMEs, need to find new opportunities to remain relevant in the face of rapid changes in technology, Chief Executive Officer of the Small Business Association (SBA) Senator Lynette Holder has urged. In a message to entrepreneurs marking Small Business Month, Holder said she was aware […]
As Government continues its push towards making Barbados totally reliant on renewable forms of energy in the next decade, electric car dealer Megapower (Barbados) Limited is reporting a strong take up of electric vehicles especially over the last two years. Managing Director Joanna Edghill told Barbados TODAY that the sale of the vehicles continue to […]
The nation’s oldest trade union has declared it’s moving to expand its role in the lives of its members in a marriage of education with renewable energy. Barbados Workers’ Union General Secretary Senator Toni Moore revealed that the union is in talks with international partners on several major projects aimed at training workers. Senator Moore […]
Accountants in Barbados and across the region have been warned to adapt to changing technology or face extinction. As local and regional professionals gathered here for the ACCA Caribbean’s annual member conference at the Hilton Resort, they examined the likely impact of artificial intelligence and other forms of technology on accounting. President of the Institute […]
More than a month after extending the deadline for its settlement scheme, there is no indication how soon Resolution Life Assurance Company Limited (ResLife) will wind up the distribution of payments to the remaining eligible policyholders. The initial aim of the company, which took over the portfolio of the failed CLICO International Life Insurance, was […]
Businesses crippled by the implementation of Government’s new computerised customs management system have reportedly been promised tremendous improvements in its efficiency by the end of the week. But as the holiday season draws nearer, one well-known businessman has warned that failure to achieve the promised corrections could result in tremendous losses for local commerce. Former […]
As Artificial Intelligence (AI) becomes more pervasive, labour and education experts see its likely impact on jobs more as an opportunity than a challenge, suggesting workers upgrade their skills and retool. But the officials also agreed that Barbados was lagging behind in its digital transformation, as they spoke on a panel discussion on the final […]
Barbadians have gone through the worst of the austerity period under the homegrown International Monetary Fund-backed economic restructuring programme, BERT, the Government’s chief economic adviser has declared. Professor Avinash Persaud promised that this fiscal year, which ends next March 31, will have been the toughest under the IMF-funded Barbados Economic Recovery and Transformation programme. He […]
Business figures have formed an alliance – dubbed a dynamic digital communications coalition – with Government to push for digital transformation. The coalition is one of a number of initiatives to emerge from the inaugural Smart Barbados conference which ended today. Minister of Innovation, Science and Smart Technology Kay McConney announced that following the week-long […]
The stalemate between Government and international hotel chain Sandals Resorts International (SRI) has prompted Opposition Leader Bishop Joseph Atherley to call for a review of how taxes are imposed on the island’s bread and butter tourism industry. At the same time, the St Michael West Member of Parliament has dismissed as “out of the ordinary” […]
Two months after losing a court battle in a protracted tariff war against its competitor Rock Hard Cement Limited, the Arawak Cement Company Limited has a new fight on its hand. This time, the company is tasked with coming up with ways to considerably slash its operating costs, a move that Prime Minister Mia Mottley […]
The way Barbadian and Caribbean people pay for the things they buy is to be surveyed by the region’s central banks, the Central Bank of Barbados has said. As more payment options become available to customers, the Central Bank said it has begun work to ensure that policies keep up with the developments. The Central […]
A “tardy, obsolete and poor” public service is causing Barbados to lose out on millions of dollars in foreign investment, former central bank governor Dr DeLisle Worrell has claimed. Declaring there was no shortage of capital, he argued that while local and international investors showed great interest in Barbados and the rest of the region, […]
Customer demand still drives change among the nation’s banks, as one commercial bank declared it was doing all it could to keep up. Manager of Premium Relationship Banking at Canadian-owned Scotiabank Carla Boyce said the bank continues to innovate solutions to meet customers’ changing needs. Scotiabank, which has pulled out of a number of Caribbean […]
Ahead of meetings tomorrow between the business community and the Comptroller of Customs, a major distribution company is reporting some improvement with the new Asycuda World system, which left dozens of containers stuck in the Bridgetown Port. But some companies are bracing for thousands of dollars in losses if shipping companies refuse to waive storage […]
Motorists who missed the September 30, 2019 deadline to have the Barbados Licensing Authority’s registration tag attached to their license plates will not be prosecuted. This announcement has come from Prime Minister Mia Mottley, who said that she would be granting a one-month amnesty. At the same time, Mottley has hinted that insurance companies could […]
