Business
November 2, 2023
JetBlue and CIBC FirstCaribbean Partner with Mastercard to Launch New Credit Cards in Caribbean Markets
JetBlue and CIBC FirstCaribbean have partnered with Mastercard to launch two credit cards for customers in the Caribbean region, offering exclusive rewards and the opportunity to earn TrueBlue points for travel.
November 1, 2023
Expansion of Afreximbank's CARICOM Office Leads to Groundbreaking Achievements in Trade and Investment
The head of Afreximbank reports "ground-breaking achievements" after setting up a CARICOM office in Barbados, including lending billions of dollars to CARICOM states and attracting African investment interests.
October 31, 2023
Government Secures BDS $50 Million Loan to Renovate Kensington Oval for 2024 ICC Men's T20 World Cup
The government plans to borrow BDS $50 million from Afreximbank to renovate Kensington Oval for the 2024 ICC Men's T20 World Cup, with a focus on developing cricket and other sports in the region. Prime Minister Mia Amor Mottley expressed gratitude for the loan at the ACTIF23.
October 31, 2023
Potential Impact of Escalating Middle East Conflict on Oil Prices, World Bank Warns
The World Bank warns that if the conflict in the Middle East escalates, oil prices could rise to over $150 a barrel and potentially result in a "dual energy shock" affecting oil and gas supplies. However, current predictions suggest wholesale prices will fall to $81 a barrel if the crisis does not worsen. The Bank is cautious due to the potential for higher energy prices leading to inflation and increased food prices. They are concerned that an intensification of the conflict would exacerbate food insecurity globally.
October 31, 2023
Barbados Prime Minister Mia Amor Mottley Highlights Trade Opportunities Between Caribbean and Africa
Barbados Prime Minister, Mia Amor Mottley, suggests that Barbados become a trade hub with Africa to strengthen cooperation and food security between the two regions.
October 29, 2023
Barbados Prime Minister Hints at Possible Change in Local Corporate Tax Rate Following Global Minimum Tax Introduction
Prime Minister Mia Mottley has indicated that Barbados will have to adapt to the planned 15% global minimum corporate tax rate by making changes to the current low tax rate for local companies. Mottley expressed concern about the risk of losing businesses and emphasized the need for investment to drive growth.
October 29, 2023
Barbadians Can Expect Lower Poultry Prices at Special Outlets as Government Addresses High Cost of Living
Barbadians can expect lower prices for poultry at special outlets as the Government addresses the high cost of living. Prime Minister Mia Mottley made the announcement at the BLP conference, citing retailers engaging in price gouging. Measures include reducing poultry prices and opening a second feed manufacturer.
October 28, 2023
Government Sees Decline in Direct Taxes but Offsets Loss with Increased VAT and Other Transaction-based Taxes: Central Bank Report
The government of Barbados experienced a decrease in direct tax revenues, but offset the decline with higher receipts in other taxes such as VAT and import duties. The Central Bank reported a small overall deficit in the first half of the fiscal year.
October 28, 2023
FTC CEO Urges Quick Action on Clean Energy Transition Rider Application by Barbados Light & Power
The Fair Trading Commission (FTC) assures efforts will be made to expedite the review of Barbados Light & Power's Clean Energy Transition Rider (CETR) application. The CETR guidelines are already established, and a public consultation will be condensed to move quickly.
October 26, 2023
Apes Hill Barbados Wins Four Awards at 10th Annual World Golf Awards in Abu Dhabi
Apes Hill Barbados wins four awards at the World Golf Awards, including World's Best Golf Real Estate Venue and World's Best Eco-Friendly Golf Facility.
October 26, 2023
Barbados to Launch 24-Hour Call Centre to Streamline Processes for Businesses, States Energy and Business Development Minister
CAIPO to open 24-hour call centre to address backlog of business inquiries. Minister Cummins confirms temporary solution to streamline processes for local and foreign enterprises looking to do business in Barbados.
October 26, 2023
Queen Elizabeth Hospital Extends Discount Offer for Delinquent Payments Amidst Increasing Efforts to Collect $40 Million in Arrears
The Queen Elizabeth Hospital (QEH) extends its 25% discount offer on outstanding arrears to patients facing financial difficulties, while also increasing patient deposits and utilizing legal and debt collection services to collect payments.