Business
July 2, 2024
Barbadian Workers Facing Increased Individual Retirement Savings Responsibility Amid Growing Closure of Occupational Pension Plans: 2023 FSR Report Reveals Decline in Pension Sector - Central Bank of Barbados & FSC
Barbadian workers face increased responsibility for retirement savings as more employers close occupational pension plans. The 2023 Financial Stability Report highlights sector decline and challenges in maintaining pension funds.
July 2, 2024
Barbados Faces $600M Hurricane-Related Losses Over 20 Years - New Research Reveals Vulnerability to Natural Disasters | 2023 Financial Stability Report
Barbados faces $600 million in economic losses from natural disasters in the past 20 years, with storms being the primary cause. Research highlights vulnerability to external risks and potential climate change impact.
July 2, 2024
Hurricane Beryl Devastates Fishing Industry, Threatens Food Security: Government Assures Support and Assessment
Category 4 Hurricane Beryl devastates island's fishing industry, sinking and damaging boats. Prime Minister promises assistance after assessment of damage. Urgent cleanup and safety measures implemented.
July 1, 2024
Grantley Adams International Airport (GAIA) Closed for Safety Assessment - Updates Expected Soon
Grantley Adams International Airport (GAIA) closed for safety assessments. Reopening time update pending. Travellers advised to check with airlines for flight schedule changes. Follow official GAIA channels for updates.
June 30, 2024
Sol Petroleum (Barbados) SRL Appeals FTC Decision on Anti-Competitive Conduct
Sol Petroleum (Barbados) SRL appeals against the Fair Trading Commission's decision on alleged anti-competitive behavior related to contractual arrangements with Barbados National Oil Company Limited.
June 29, 2024
Defining a Model Employee: Qualities and Characteristics that Stand Out in the Workplace
This article discusses the qualities of a model employee, emphasizing the importance of exceptional conduct, professionalism, and leadership in the workplace. Factors like trustworthiness and inspiring others are key considerations.
June 29, 2024
Prime Minister Mia Mottley Praises Caribbean Rum Industry for Regional Cooperation and Economic Impact
Prime Minister Mia Mottley praises Caribbean rum industry for regional cooperation, economic benefits, and global excellence. Emphasis on industry's role in showcasing Caribbean capabilities and gender equality. CARICOM's 50th anniversary commemorated with special rum editions.
June 29, 2024
IMF Approves Immediate Disbursement of US$56 Million to Barbados under Extended Fund Facility and Resilience and Sustainability Facility
Barbados receives approval from the IMF to access $56 million, increasing total disbursements to $187 million under the Extended Fund Facility and Resilience and Sustainability Facility.
June 28, 2024
First Citizens Bank Commits $70K for Return of Fusions at Barbados Crop Over Festival
First Citizens Bank pledges $70,000 to support the return of Fusions at Barbados' Crop Over Festival, featuring traditional and contemporary musical talent. NCF expresses gratitude for the bank's ongoing sponsorship.
June 28, 2024
Barbados Light and Power Company's New Hampton Substation Enhances Island's Electrical Infrastructure for 12,000 Residents
Barbados Light and Power Company's new Hampton Substation benefits 12,000 residents, enhancing electricity infrastructure against storms. Indoor facility protects equipment, improves service, with plans for future upgrades and expanded capacity.
June 28, 2024
Barbados Commercial Banks Increase Profitability Through Fee Income Growth: 2023 Financial Stability Report
Commercial banks in Barbados are increasingly relying on fee income for profitability, with noninterest income growing from 23% to 33% over a decade. They earned $1.26 billion in fees and commissions between 2014 and 2022.
June 28, 2024
Barbados Light & Power Company (BLPC) Asserts Readiness for Active Season with Strengthened Infrastructure
Barbados Light & Power Company (BLPC) is prepared for an active hurricane season with reinforced infrastructure and early preparations. Supply chain adjustments and new facilities enhance readiness for potential weather challenges.