Business
January 16, 2025
Title: Central Bank of Barbados Responds to Concerns Over US $1 Note Acceptance, Clarifies Legal Standing
The Central Bank of Barbados clarifies businesses' discretion in accepting US $1 notes, emphasizing that it cannot mandate acceptance. Commercial banks are willing to exchange foreign currency for Barbadian dollars.
January 16, 2025
Understanding US$1 Note Acceptance in Barbados: Central Bank Clarifies Laws and Recommends Exchange Options | CBB/PR
The Central Bank of Barbados addresses concerns over local businesses not accepting US$1 notes, clarifying its jurisdiction and advising individuals to exchange these notes at commercial banks for Barbadian dollars.
January 16, 2025
Barbados Government Shifts Focus to Domestic Financing amidst Investor Concerns - Experts Analyze Challenges and Opportunities
Government's shift to domestic financing is logical, but investor concerns linger over past debt restructuring losses. Experts emphasize transparency and the need for local risk appetite in government debt.
January 16, 2025
Sanitation Service Authority Revises Performance Incentive Plan for Workers in Negotiations with Union
The Sanitation Service Authority (SSA) has revised its performance incentive scheme for workers, with a new proposal submitted to the National Union of Public Workers (NUPW) for negotiation in early February.
January 14, 2025
India's Visionary Tech Program at CARICOM-India Summit 2024 Emphasizes Innovation and India Stack
India's Prime Minister unveils a visionary program at CARICOM-India Summit to strengthen ties with CARICOM, emphasizing innovation and technology. India Stack's digital framework aims to enhance service delivery and financial access.
January 14, 2025
IMF Confirms Barbados' $14.9 Billion Debt Still Sustainable with Positive Outlook Amid Uncertainties
IMF confirms Barbados' $14.9 billion debt as sustainable, aiming for 60% of GDP target by 2035. Positive fiscal and debt trajectory supported by recent developments and structural reforms.
January 14, 2025
Investigation Underway After Damage to Barbados Port Inc.'s Bulk Handling Facility at Port of Bridgetown
Barbados Port Inc. (BPI) is investigating damage to its Bulk Handling Facility at the Port of Bridgetown due to severe swell activity. Operations impacted, vessels delayed, and interim plan in progress.
January 13, 2025
Major Lawsuit Alleges Multibillion-Dollar Fraud Scandal Involving Offshore Bank in Barbados
Barbados offshore bank Amicorp Group faces a multibillion-dollar fraud lawsuit by 1MDB, alleging $7 billion in fraudulent transactions facilitated by Amicorp entities. Central Bank of Barbados clarifies its position.
January 11, 2025
Barbados Co-operative and Credit Union League Limited Appoints Tracia Pounder as New General Manager
Tracia Pounder appointed as the new General Manager at Barbados Co-operative and Credit Union League Limited, bringing over 20 years of financial services experience and recognized leadership in the credit union sector.
January 9, 2025
Barbados Port Inc. Announces Closure of Shed 2 on January 9th, 2025 Due to Environmental Issue - Rescheduling Details Provided
Barbados Port Inc. announces the closure of Shed 2 on January 9th, 2025, due to an environmental issue necessitating industrial cleaning. Appointments for personal effects collection are cancelled, with affected customers to be contacted for rescheduling. Normal operations expected to resume on January 10th, 2025. Apologies for any inconvenience.
January 9, 2025
Graeme Hall Nature Sanctuary to Reopen in Barbados, Boosting Ecotourism and Conservation Efforts
Graeme Hall Nature Sanctuary, Barbados's largest remaining mangrove forest, set to reopen in March under new ownership. Paid facility to boost ecotourism, create jobs, and focus on nature conservation.
January 9, 2025
2025 Global Economy Outlook: Impact of Inflation, Interest Rates, and Tariffs Explained
2025 presents economic challenges with inflation, interest rates, and tariffs impacting global growth. US Federal Reserve signals caution on further rate cuts amid inflation battle. Uncertainty looms over global growth due to potential new tariffs under Trump 2.0.