Category: Business

New Sandals resort raises eyebrows

Concerns are being raised about possible environmental damage at Dover Woods, Christ Church as a result of the construction of Sandals Royal Barbados resort, the new all-suite property that began as an expansion of the company’s existing resort. Sustainability enthusiast Jim Webster said he was worried that the US$160 million development was affecting the area’s […]

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Flow goes 4G LTE

Telecommunications company Flow has announced plans to invest $80 million in Barbados this year, the second part of the company’s planned $150 million investment on which it embarked last year in an effort to upgrade and expand its telecoms infrastructure here. This announcement came as the company officially switched on its Long Term Evolution (LTE) […]

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Private sector not accepting Govt business – Williams

There is increasing reluctance among the private sector to accept Government business or take on any more of its debt, according a senior business executive. Managing Director of Light & Power Holdings Limited Peter Williams said rising uncertainty about the true state of the economy had led to significant erosion of confidence. In addition, he […]

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Public still in the dark on BNTCL sale, says Rubis

With the Fair Trading Commission (FTC) looking into the proposed sale of the state-owned Barbados National Terminal Company Limited (BNTCL) to regional petroleum products giant Sol to determine whether or not it should be approved, Sol’s main competitor is calling for transparency in the process. The FTC last month invited “all industry participants, representatives of […]

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Concrete hope

With the Freundel Stuart administration thirsty for some foreign currency to boost foreign exchange reserves, Arawak Cement Company, whose parent firm Trinidad Cement Limited was recently taken over by Mexican manufacturer CEMEX, today disclosed it would make a concrete contribution to the economy. The St Lucy-based firm said it would invest some US$50 million here […]

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Flow explains Sheehy’s sudden exit

The new man in charge of Flow’s operations in the Caribbean today assured that the local leadership of the telecommunications giant remained in tact, following the sudden departure of Managing Director Niall Sheehy from Flow (Barbados). Sheehy’s resignation, first reported by Barbados TODAY yesterday, came amid an ongoing leadership transition, following Liberty Global’s £3.5 billion […]

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Niall Sheehy exits Flow

Nearly two years after he was appointed managing director of Flow’s Barbados operations, experienced telecommunications executive Niall Sheehy has parted ways with the company. So far Flow officials have been tightlipped on the development. However, it follows the January 1, 2017 appointment of Jamaican Garfield Sinclair, the former CEO of Cable & Wireless Jamaica, as […]

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John bringing security

For the past five years, he has been providing security options for thousands of individuals and businesses across the island. And with the perception that break-ins and other petty crimes are on the increase, owner of Intelligent Defense Systems (IDS) Jason John says more Barbadians are taking their security seriously. “Before, we used to think […]

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Maloney offers economic advice

Local developer Mark Maloney is recommending greater collaboration between the public and private sectors to help correct the challenges facing the island’s economy, with tourism at the centre of the process. It is for this reason, Maloney said, that the authorities must continuously create opportunities to attract a range of investments in the sector. “We […]

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Banks pull back slightly on lending

Commercial banks pulled back generally on their lending last year, but amid a high level of liquidity in the local sector, consumer loans grew by $73 million, according to the latest Financial Stability Report released today by the Central Bank and the Financial Services Commission. Of that amount $29 million of which was representative of […]

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Insurance company helping with academics

Several eight- to 12-year-olds from two communities are being better equipped to enter secondary school, thanks to Pan-American International Insurance Corporation of Barbados. The insurance company, which is a subsidiary of the United States-based Pan-American Life Insurance Group (PALIG), has been offering needed assistance to children in the New Orleans and Chapman Lane, The City […]

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Major projects for Preconco

In the midst of a turbulent economic climate, a local construction firm is reporting a positive start to 2017. In fact, the Mark Maloney-led Preconco Limited, which recently attracted criticism for its involvement in Government projects, revealed today that that two major resorts projects would soon be coming on stream. While not giving details, Operations […]

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Maloney wants greater fiscal incentives

Already facing Opposition criticism for the number of capital projects it had been securing from Government, local construction firm Preconco is now asking for greater fiscal incentives from the Freundel Stuart administration. Although the company’s Managing Director Mark Maloney declined to be drawn into discussion on the matter, confirmation of the request has emerged in […]

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BICO’s shares trading way below value – Thirlwell

A lack of inactivity on the Barbados Stock Exchange (BSE) is depressing the share price of ice cream and cold storage company BICO Limited, according to a company executive. Expressing dissatisfaction at the level of BICO’s share price in trading on the local stock exchange, Executive Chairman Edwin Thirlwell said due to the fact that […]

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Put politics aside for the sake of country – Myers

One of the island’s top tourism officials is pleading with Barbadians to put their political differences aside and focus on solutions to the economic challenges facing the country. What’s more, Chairperson of the Barbados Hotel and Tourism Association (BHTA) Roseanne Myers is hinting to the Freundel Stuart administration that it must not be afraid to […]

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Hotel upgrades coming

More than $30 million will be spent this year on refurbishment and upgrade of hotels to help improve their competitiveness, according to Chief Executive Officer of the Barbados Hotel and Tourism Association (BHTA) Rudy Grant. However, Grant said the hoteliers’ ability to compete was still being stifled by the absence of dozens more items from […]

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‘Economy hurting BICO’s outlook’

The struggling Barbados economy is taking a bite out of the profits of local ice cream manufacturer, BICO Limited, with Executive Chairman Edwin Thirlwell predicting a dim outlook. The company has recorded a moderate increase in overall sales for the financial year ending September 30, 2016. However, Thirlwell explained that BICO’s performance continued to be […]

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