john-tamny

Devaluation ‘always a negative’

17 February 2017

“DEVALUATION NEVER WORKS!” That is the caution coming from an internationally recognised economist, who believes that Barbados should not even be contemplating devaluing its dollar. John Tammy, a political economy editor at Forbes, has advised that the country... Read More

chris-sinckler

E-window ready to roll

16 February 2017

THE BARBADOS ELECTRONIC Single Window (BESW) will facilitate more than 190 forms in an online setting, which were previously submitted manually. That is one of the many benefits expected from the system, which was officially launched at the Lloyd Erskine Sandiford... Read More

bpsa

FULL STATEMENT: Barbados Private Sector Association on the economy

15 February 2017

LAST WEEK, the Barbados Private Sector Association issued a statement on the Barbados economy. In addition to identifying the problems affecting the sector, the statement also offered short-term solutions and long-term goals. Click here to read the full BPSA statement... Read More

waves-hotel

Waves dismissal matter at standstill

15 February 2017

THE EMPLOYMENT RIGHTS TRIBUNAL (ERT) case brought by a former hotel worker remains in limbo as parties seek to find the rightful defendant in the wake of the hotel’s closure. Former night auditor/security officer at Waves Hotel and Spa, Wendell Storey, had accused... Read More

omar-gadbsy

Keep options open

10 February 2017

THE BARBADOS ECONOMY is at the point where all options should be on the table. The advice is coming from Barbadian Omar Gadsby, who is a high-ranking official of the international bank Credit Suisse where he oversees US$50 billion in bond mutual fund assets of the... Read More

ralph-bizzy-williams

‘Not fair’

09 February 2017

UNFAIR. That is how business magnate Ralph “Bizzy” Williams has reacted to yesterday’s news the Canadian-based Deltro Group had been given approval from the Town and Country Planning Department to operate a solar panel manufacturing plant on the Trans-Tech site at... Read More

coconut-vendor

‘Reckless’ with reserves

07 February 2017

CHIEF EXECUTIVE OFFICER of the Barbados Agricultural Society (BAS), James Paul, is throwing cold water on a local company bringing in hundreds of cases of coconut water into the island. An upset Paul said yesterday that some businesses which took up large chunks... Read More

caribbee-hotel

Caribbee ‘better off torn down’

07 February 2017

THERE ARE FEARS the unoccupied Caribbee Hotel on Hastings Main Road, Christ Church, could become a security risk for people walking along that section of the Richard Haynes Boardwalk. The property, owned by businessman Elias Haloute has been on the real estate market... Read More

avinash-persaud-2014

Barbados bonds in distress

02 February 2017

GOVERNMENT’S FAILURE to tighten its belt and allay concerns about the value of the Barbados dollar has left the international market fearful about the island’s bonds. Barbadian economist and financial analyst Professor Avinash Persaud issued that warning from London... Read More

delisle-worrell

Debt burden despite growth

25 January 2017

NOT EVEN 1.6 PER CENT economic growth last year was enough to loosen the vice grip of high debt and weakening foreign earnings now burdening the Barbados economy. In his economic report for 2016, Governor of the Central Bank Dr DeLisle Worrell yesterday admitted... Read More

centralbankbuilding

Central Bank reports 1.6 per cent growth in 2016

24 January 2017

THE CENTRAL BANK of Barbados says the economy grew by 1.6 per cent in 2016 and expansion of two per cent is expected for the next five years. In its review of the economy which was released today, the bank attributed the growth to “investments made to reinforce Barbados’... Read More

imf09

IMF to declare hand in April

24 January 2017

THE CENTRAL BANK will give its latest report card on the Barbados economy today, but Barbadians have to wait until April for the International Monetary Fund (IMF) to reveal its hand. Yesterday, without mentioning Barbados by name, director of the IMF’s Western Hemisphere... Read More

logo-sol

Double take

20 January 2017

WHEN THE BARBADOS National Terminal Company Limited (BNTCL) is sold Government is expected to rake in more than double what was speculated as the sale price. Reliable sources informed the WEEKEND NATION that Sol, owned by Barbadian business mogul Sir Kyffin Simpson,... Read More

asphalt-plant-at-black-bess

New $8m asphalt plant

20 January 2017

THERE IS A NEW player in asphalt manufacturing and road paving in Barbados, and that company wants a piece of the action on the Highway 1 repaving project set to be done by CO Williams Construction. Cemix Asphalt, which is part of the Bess Mining group operated by... Read More

chefette-fairchild-street

Chefette closing City branch

20 January 2017

FAST FOOD CHAIN Chefette is closing one of its City branches from today but there will be no layoffs, it said. In a press release yesterday the restaurant said its Fairchild Street, location was closing since the lease was not renewed by landlord, the Barbados Workers’... Read More

donville-inniss

New policy coming on minimum wage

19 January 2017

GOVERNMENT IS ESTABLISHING a special minimum wage advisory board amid concerns that some Barbadians, especially domestic workers and shop assistants, are now underpaid. While he was confident that the majority of employers were not “rogues and vagabonds”, Minister... Read More

sandra-sealy

FTC oil probe

18 January 2017

BARBADIAN MULTIMILLIONAIRE Sir Kyffin Simpson’s oil empire Sol will not be able to count the Barbados National Terminal Company Ltd (BNTCL) among its assets just yet. The Fair Trading Commission’s (FTC) chief executive officer Sandra Sealy yesterday confirmed that... Read More

ian-de-souza2

New Republic in 18 months

17 January 2017

IN A YEAR AND A HALF, Republic Bank (Barbados) should have a new branch in Warrens, St Michael. Managing director and chief executive officer Ian De Souza turned the sod yesterday on the $30 million project called One Republic Place. The six-storey building will... Read More

standardpoors

Not budging

12 January 2017

DESPITE GETTING more up-to-date information on the Barbados economy, international credit rating agency, Standard & Poor’s (S), is sticking to the downgrade it issued five months ago. It is also maintaining its negative outlook through to next year. In September,... Read More

pumpkin-at-constant-plantation

Import squeeze

12 January 2017

IMPORTERS ARE CONCEALING data on foreign produce, distorting the market and threatening the future of local farmers, it was claimed yesterday. James Paul, chief executive officer of the Barbados Agricultural Society, made the charge after Constant Plantation in St... Read More

jeremy-stephen

Exchange rate worry

12 January 2017

THE THREAT OF a dollar revaluation could be looming on the horizon for Barbados following another downgrade. That’s according to a Caribbean Information and Credit Rating Services Limited (CariCRIS) report, which listed the threat of revaluation due to the printing... Read More

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