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Inniss defends international business record

Inniss defends international business record

Minister Industry, International Business and Commerce Donville Inniss has put up a spirited defence of his ministry’s performance in the international business sector amidst growing criticism that underperformance in that sector has contributed to Barbados’ alarmingly low foreign reserves. Inniss contends that the fall in revenue from international business in recent years is not a […]

Tourism slowdown

Tourism slowdown

The Caribbean’s tourism sector is now expected to register slower growth in 2017 than the 3.5 per cent projected earlier this year. Addressing a news conference at the World Travel Market in London this week, Chairman of the Caribbean Tourism Organization (CTO) Dionisio D’Aguilar said that due to the devastating impact of recent hurricanes, the […]

Another hit

Another hit

Minister of International Business and Commerce Donville Inniss has rubbished a report this week which lists Barbados among 19 “secrecy jurisdictions” where some of the world’s biggest businesses, heads of state, including Queen Elizabeth II, and global figures in politics, entertainment and sport are said to be sheltering their wealth from the taxman at home.  […]

Bad timing!

Bad timing!

President of the Barbados Chamber of Commerce and Industry (BCCI) Eddy Abed has taken the Barbados Water Authority (BWA) to task over what he describes as poor timing of its annual maintenance schedule at its Spring Garden plant. This has resulted in a water shutdown, which mainly affected St Michael, St Thomas and St James […]

ICAB calls for more Government oversight

ICAB calls for more Government oversight

Following recent meetings with Government on the proposed Barbados Sustainable Recovery Plan 2017, one private sector official is calling for the urgent establishment of an oversight monitoring committee. Executive Director of the Institute of Chartered Accountants (ICAB) Reginald Farley said this was critical to ensuring that the draft plan, which was recently sent to Cabinet […]

Come clean!

Come clean!

The island’s main private sector organization is calling on the Central Bank of Barbados to come clean on the island’s fiscal deficit. While agreeing with most of the recent comments made by Acting Governor Cleviston Haynes on the performance of the economy over the past nine months, and the measures needed to correct the economic […]

Another missed opportunity by Government, laments Stephen

Another missed opportunity by Government, laments Stephen

Economist Jeremy Stephen is suggesting that had the Central Bank of Barbados taken up a suggestion he made several years ago to include a relatively small amount of digital currency in its portfolio, the country’s international reserves would not be at the uncomfortably low level they are at today. Delivering the third quarter review of […]

NSRL costs Barbados in doing business report

NSRL costs Barbados in doing business report

Government’s controversial National Social Responsibility Levy (NSRL) has been identified as one of the main reasons for Barbados’ steep drop in the World Bank Doing Business 2018 Report, in which the island is ranked 132nd, down from 119th in the 2016 report. Barbados was not ranked in the 2017 report. “Barbados made paying taxes more […]

Economy affecting creativity, says BIDC

Economy affecting creativity, says BIDC

Barbados’ less than favourable economic condition is being blamed for low levels of innovation and creativity. A day after Acting Governor of the Central Bank Cleviston Haynes pointed to falling reserves, high government debt and a continued worrying fiscal position in his third quarter review of the Barbados economy, Chief Executive Officer of the Barbados […]