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On board

On board

Two prominent insurance executives are supporting proposed amendments to the country’s road traffic laws, saying they should redound to a reduction in motor claims and ultimately a drop in local insurance rates. “Ultimately you will see a reduction in the premium costs, but I wouldn’t see that happening right away because companies now have to […]

Sealy offers assurances to Hilton hotel employees

Sealy offers assurances to Hilton hotel employees

With the sale of the Hilton Barbados Resort said to be at “an advanced stage”, Minister of Tourism Richard Sealy is assuring employees at the Needhams Point property that their jobs are safe. In fact, he told supporters of the ruling Democratic Labour Party (DLP) during a joint meeting of DLP branches in the St […]

Get cracking, Chris!

Get cracking, Chris!

Despite its ongoing economic challenges, ex-Central Bank Governor Dr DeLisle Worrell suggests overseas investors are still eager to invest millions in the Barbados economy. However, writing in his November newsletter, Worrell said these potential investors were currently holding back due to the unstable economic environment and the threat of a devaluation of the Barbados dollar, […]

Economist Stephen warns of a rising threat

Economist Stephen warns of a rising threat

With global oil prices on the rise again, economist Jeremy Stephen is raising fresh alarm that the country’s dwindling foreign reserves are about to take a “nasty hit”, putting the stability of the Barbados dollar in further jeopardy. “The reserves [are] about to take a huge hit, and we have to acknowledge that this hit […]

Disruptive!

Disruptive!

Hundreds of school children and other commuters were forced to make alternative arrangements this morning after unionized workers at the state-run Transport Board walked off the job, complaining about alleged privatization, among a number of grievances. The surprise action began affecting the national bus service from as early as 3:30 a.m. and by 9 a.m. […]

Scores stranded as result of LIAT pilots’ strike

Scores stranded as result of LIAT pilots’ strike

Scores of passengers were left stranded at the Grantley Adams International Airport (GAIA) on Friday, as pilots employed by regional airline LIAT staged protest action. This follows a breakdown in talks on Friday morning between management of the Antigua-based carrier and representatives of the Leeward Islands Airline Pilots Association (LIALPA). In a statement this afternoon, […]

‘National recovery strategy must be inclusive’

‘National recovery strategy must be inclusive’

Amid the island’s ongoing economic troubles, the head of the Barbados Coalition of Service Industries (BCSI), Graham Clarke, today warned that the island was facing a “deceptively gradual decline” from which there was no easy way back. At the same time, Clarke cautioned that any recovery strategy for Barbados should not be left up to […]

New day

New day

Forget about Government’s Medium Term Growth and Development Strategy (MTGDS) and get ready for the Barbados Sustainable Recovery Plan (BSRL) 2017. Nearly four years after he unveiled the revised MTGDS as the main strategy that would take Barbados into the year 2020, Minister of Finance Chris Sinckler today effectively announced that the Freundel Stuart administration […]

Barbados’ economic model obsolete, warns Inniss

Barbados’ economic model obsolete, warns Inniss

Minister of Industry, Commerce, International Business and Small Business Development Donville Inniss has rendered Barbados’ economic model obsolete. Echoing many of the views expressed by former Prime Minister Owen Arthur last week when he called for a new model of development, Inniss pointed out that “over the past 50 years Barbados’ growth and development has […]