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Merger likely

Merger likely

A major merger is in the making in this island’s vital financial services sector. Globe Finance Inc and Signia Financial have confirmed that they are currently exploring a possible marriage, subject to regulatory approval. However, the final decision will be up to their shareholders. “The shareholders of Globe and of Signia have signed a letter […]

CDB willing to help fund south coast clean up

CDB willing to help fund south coast clean up

The Caribbean Development Bank (CDB) says it stands willing and able to lend a helping hand to the Barbados Government in cleaning up the embarrassing sewage mess along the island’ south coast. The Director of Economics Justin Ram gave this assurance yesterday while urging the Freundel Stuart administration to make the necessary investment in upgrading […]

CDB tells Government to cap its wage bill

CDB tells Government to cap its wage bill

With the Freundel Stuart administration currently under pressure from trade unions to grant a double-digit pay hike to public sector workers, one of the island’s key regional development partners is suggesting that Government acts otherwise. In fact, if the Stuart administration heeds the advice of the Caribbean Development Bank (CDB) it could be a while […]

Barbados has worst performing economy among CDB countries

Barbados has worst performing economy among CDB countries

Barbados is projected to be at the bottom of the pack when it comes to economic growth this year among the 19 borrowing member countries of the Caribbean Development Bank (CDB). The CDB today said it expected the Barbados economy to grow by 0.7 per cent this year, slightly above the 0.5 per cent which […]

Number portability coming – Stuart

Number portability coming – Stuart

Barbadians should be able to switch telephone service providers without losing their phone numbers from December, according to Prime Minister Freundel Stuart. Giving Parliament an overview of developments in Barbados’ telecommunications sector, for which he has ministerial responsibility, Stuart today said that the Division of Telecommunications had launched a Local Number Portability Project in September […]

Govt to clear $200 million in arrears to NIS

Govt to clear $200 million in arrears to NIS

Government is to clear over $200 million in arrears to the National Insurance Scheme (NIS), after the two sides signed a long-awaited deal. Minister of Finance Chris Sinckler this morning announced he had inked the agreement over a week ago, under which the administration would pay some of the arrears in cash and the remainder […]

Paul attacks employers who fail to make NIS payments

Paul attacks employers who fail to make NIS payments

A Government backbencher today lashed out at what he said was the “scandalous” practice by unscrupulous employers who deduct National Insurance Scheme (NIS) contributions from their workers but fail to pass on those funds. As Democratic Labour Party (DLP) parliamentarians, led by Prime Minister Freundel Stuart, appealed to private sector employers and the self-employed to […]

$1.4 billion deficit

$1.4 billion deficit

Minister of Finance Chris Sinckler today presented a budget which reflected a $1.4 billion deficit for the 2018/2019 fiscal year. In the Estimates of Expenditure and Revenue laid in Parliament today, Sinckler projected that Government would spend $4.5 billion, the same amount projected for the current financial year, but would receive $3.1 billion in revenue, […]

Soaring costs

Soaring costs

The country’s most vocal consumer rights advocate is warning Barbadians to prepare for steep price rises in the coming months, predicting that some consumer goods could climb by as much as 60 per cent. With reports emerging that supermarkets would likely pass increases in some shipping costs out of the United States on to consumers, […]