Business
May 8, 2024
FTX Plans to Repay Customers in Full as Assets Exceed Debts
Collapsed FTX cryptocurrency exchange plans to repay customers with $16.3bn from asset sales, covering $11bn debts. Co-founder sentenced to 25 years for fraud. Reorganization proposal awaits US court approval.
May 8, 2024
Government Announces Introduction of Patent Box Regime to Boost Innovation and Research
Government announces plans for a patent box regime to boost research and innovation. Lower tax rates for patented inventions to spur collaboration and development, aiming to enhance Barbados' innovation landscape.
May 8, 2024
Transit Industry Concerned Over Potential Delay in Achieving 100% Renewable Energy Goal by 2030
Transit industry concerns over potential delay in achieving 100% renewable energy by 2030 due to unfulfilled $3 million loan pledge for green buses. Operators await permits and loans for eco-friendly vehicles.
May 7, 2024
Pressure Mounts on IMF to End Costly Surcharges Policy: US Lawmakers Introduce Reform Act
Pressure mounts on the IMF to end surcharges policy costing Barbados millions. US lawmakers introduce Stop Onerous Surcharges Act to reform IMF surcharges, citing detrimental impact on debt-ridden countries.
May 7, 2024
Barbados Postal Service Enhances Operations with Post Office Renovations and New Delivery Services
Post offices nationwide set for renovations, with Barbados Postal Service planning door-to-door delivery for small businesses. Minister Abrahams announces updates at media briefing on digital strategy and AI workshop.
May 7, 2024
Financial Services Seminar at Hilton Barbados Resort: Sagicor Announces Advanced Data Privacy Programme Amid Rising Cyber Threats
Seminar at Hilton Barbados Resort discusses Data Protection Act impact on financial services, highlighting Sagicor's advanced data privacy program to comply with regulations and strengthen operations in multiple jurisdictions.
May 7, 2024
Expanding Business Horizons: SME Owners Urged to Embrace Global Vision by Minister Abrahams
Minister Abrahams encourages SME owners in Barbados to think globally for business growth. Workshop led by Google expert Vicente Pimienta to enhance digital strategies and expand global market reach for local businesses.
May 6, 2024
Barbados Sees Rise in Borrowing, Savings, and Tax Revenues, Boosted by Economic Growth: Central Bank Report
Barbados sees rise in borrowing and savings, with businesses and households accumulating nearly $15 billion in savings. Government revenue boosted by transaction-based taxes, notably VAT. Central Bank credits economic growth.
May 6, 2024
Upper Broad Street to Bridge Street Paving Plan: Road Closures in Bridgetown from May 7-9, 2024
Ministry of Transport and Works to mill and pave Upper Broad Street to Bridge Street in Bridgetown from May 7-9, 2024. Road closures and diversions in place. Plan routes accordingly.
May 6, 2024
Qantas Agrees to A$100M Penalty in 'Ghost Flight' Case Settlement
Qantas agrees to pay A$100 million penalty for selling tickets to cancelled flights. Compensation plan up to A$20m for affected passengers. CEO aims to restore trust in the airline.
May 5, 2024
Barbados Government Promises Reforms to Expedite Home Ownership Process: Major Changes in Three Months
Government commits to shortening property ownership time through reforms led by Minister Sutherland. Initiative targets faster land conveyance and certification processes to streamline homeownership for Barbadians.
May 4, 2024
Barbados Revenue Authority Issues Land Tax Bills for 2024-2025 Online: Discounts and Payment Deadlines Announced
The Barbados Revenue Authority has released Land Tax bills for 2024-2025, available online and via mail. Discounts offered for early payments, with digital payment options and rebate information provided.