Category: Business

Cleviston Haynes

No major loss

The decision to delay the implementation of the Value Added Tax (VAT) on online shopping will not impact government’s revenue haul, Central Bank Governor Cleviston Haynes has said. He explained that this new tax, which was to be implemented on October 1 but is now delayed until December 15, was mainly a mitigation measure to […]

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sagicor

Sagicor’s story

The landmark deal that closes a 178-year-old chapter as one of the Caribbean’s oldest companies is being pitched as the result of “courtship” to grow operations, profit greater benefit to shareholders. A new entity, to be named New Sagicor, will be listed on the Toronto Stock Exchange (TSX), when acquired by Canadian special purpose vehicle, […]

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Cleviston Haynes

Barbados must learn from the past

The Barbados economy is at a crossroads and will require a multi-prong approach in order to get it back on track, say officials. At the same time, Governor of the Central Bank of Barbados Cleviston Haynes is warning Government to learn from past experiences. Addressing the November luncheon of the Barbados Chamber of Commerce and […]

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Cleviston Haynes

‘Retrenchment necessary’

The island’s premier financial institution, which is tasked with developing monetary and fiscal policies for the country’s economic development, says the ongoing retrenchment of public sector workers may be a bitter pill, but it has to be taken. Governor of the Central Bank of Barbados Cleviston Haynes said Government needed to cut its expenditure, which […]

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Cleviston Haynes

Scotia, Sagicor moves a wake-up call – Central Bank

Trinidadian banking powerhouse Republic Financial Holdings’ planned buyout of some of Scotiabank’s operations in the Caribbean and the acquisition of Sagicor by Canadian firm Alignvest have been described by Central Bank Governor Cleviston Haynes as “unfortunate” developments. But he suggested that the move should not come as a surprise since businesses were operating in a […]

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Scotiabank’s Ignacio Deschamps

Scotiabank to sell operations in nine Caribbean countries

The Toronto-based Scotiabank is drastically scaling back its operations in the Caribbean after more than a century of doing business in this region. The Barbados operation of the bank is not included in the US$123 million banking deal that will see nine other operations going to Republic Financial Holdings Limited  (RFHL), which operates Republic Bank, […]

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sagicor

A major deal

The shares of Sagicor Financial Corporation, valued at approximately US$536 million, are to be sold to a Toronto-based special purpose acquisition firm Alignvest Acquisition II Corporation in a deal that officials of both entities expect will unlock value for its shareholders. Once the insurance company approves the deal Sagicor will delist from the stock exchanges […]

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courts

Technical difficulties make Courts shoppers blue

It might have been better for Cyber Monday shoppers if they joined real lines at the popular retail giant Courts Barbados. From early this morning customers experienced delays and error messages as they sought to save big in the 40 per cent off sale. Upset shoppers took to the company’s Facebook page to complain, some […]

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Professor Adekeye Adebajo (left) chats with Vice Chancellor of the UWI Sir Hilary Beckles during today’s media launch.

African studies advanced programmes coming to university

After four years of budget cuts and delays in building a home for its African and Brazilian Studies, the University of the West Indies (UWI), Cave Hill Campus has joined forces with the University of Johannesburg (UJ) to launch the Institute for Global African Affairs. Through the joint initiative individuals will be able to earn […]

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More youths becoming entrepreneurs

The eighth cohort of the Barbados Entrepreneurship Foundation and FLOW (BEF/FLOW) $20 challenge highlighted that more of the island’s youth are exploring opening their own businesses. The Student Market Place, held at the Sky Mall, Haggatt Hall, was buzzing with activity. Some 60 businesses from 110 students of 17 schools set up shop for the event. […]

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Sandals Barbados welcomes new GM

Sandals Barbados and Sandals Royal Barbados have welcomed Ramel Sobrino as its newest General Manager. Sobrino, who recently celebrated his 30th anniversary in the industry, boasts an extensive background with experience in a number of key hospitality areas including serving as General Manager for Beaches Ocho Rios and Sandals Ochi Beach Resort in Jamaica and […]

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Dwight Sutherland

Sutherland calls for curriculum reform in schools

As Barbados’ economy undergoes a transformation, the minister responsible for Small Business, Entrepreneurship and Commerce says there’s a need for curriculum reform in schools. Minister Dwight Sutherland was speaking Friday at the City of Bridgetown Cooperative Credit Union, Lower Broad Street Bridgetown headquarters during the launch of the Agricultural Entrepreneurship Programme. The programme is hosted […]

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Jane Armstrong

Domestic violence ‘could retard regional development’

Gender-based violence could stymie Caribbean development, unless the region’s “very persistent” problem is not tackled urgently, a leading charity official said Friday. “Unless we make some in-roads into this problem in the region, I fear that Caribbean women, and girls in particular, will continue to be restricted in their ability to reach their full potential. […]

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Carlos Forte

Tax cut fear

A Barbadian economist following developments here from his home in Canada is predicting that Government’s massive corporate tax cut will lead to a higher cost of living for Barbadians, as a shrinking tax base will force even more taxes in the New Year. Carlos Forte, a former Central Bank of Barbados official who emigrated to […]

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Managing Director of RBC Barbados Robert de Silva

RBC here to stay

One commercial bank is giving the six-month-old Mia Mottley-led administration the thumbs up for sticking to the “difficult decisions” that had to be made in relation to the debt restructuring. At the same time, Managing Director for Barbados operations at RBC Royal Bank Robert de Silva is assuring Barbadians that his financial institution had no […]

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From left, head of the Department of Management Studies at Cave Hill Campus Dr Dion Greenidge, Programme Director and Office-in-Charge at SCHSBM Dr Ann Wallace and Dean of the Faculty of Social Science Dr Justin Robinson.

UWI ‘ease’

Retrenched Government workers will have a more flexible payment plan with the University of the West Indies (UWI), Cave Hill Campus as they seek to upgrade their skills, embark on a new business venture or grow their existing operation. With almost half of UWI enrollment being employed by the public sector, the learning institution said […]

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Edward Clarke

‘Biz boost’

Business representatives from domestic firms and the offshore community are predicting major benefits to companies that could boost the economy, as a result of Government’s unprecedented corporate tax cut. President of the Barbados Private Sector Association (BPSA) Edward Clarke told Barbados TODAY the decision by Government to lower the corporation tax rate for local businesses […]

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