Business
December 21, 2023
Russian billionaire Roman Abramovich loses legal challenge against EU sanctions, court dismisses claims for compensation
Brussels - Russian billionaire Roman Abramovich's legal challenge against EU sanctions imposed due to Russia's invasion of Ukraine was dismissed by the EU court, which also denied his claims for compensation.
December 21, 2023
Independent Senator Raises Concerns Over Lack of Repayment Plan for Kensington Oval Upgrade
Independent Senator Andrew Mallalieu raises concerns about the lack of a business plan for Kensington Oval Management Inc.'s (KOMI) repayment of a US$25 million loan guaranteed by the Government. He questions the ruling administration's priorities. Minister in the Prime Minister's Office, Senator Dr Shantal Munro-Knight, believes the upgraded facility will financially benefit Barbados in the long run.
December 20, 2023
Emancipating Barbadians: Senior Minister Kerrie Symmonds Highlights the Importance of Business in the Energy Sector
Senior Minister Kerrie Symmonds highlights the urgent need to address the lack of business in Barbados' energy sector, emphasizing the financial impact on the people. He discusses government efforts and challenges in progressing the sector.
December 20, 2023
Barbadians to Receive $1,300 Reverse Tax Credit and Income Tax Returns: Minister in the Ministry of Finance Announces Distribution
"Barbadians will soon receive $1,300 reverse tax credit and income tax returns for 2022, with $19.4 million approved for the credit and $21.1 million for tax returns."
December 20, 2023
Banks Holdings Limited Reports Strong Third Quarter Results, Meeting Profit Projections
The Banks Holdings Limited (BHL) group reports strong Q3 results, with revenues reaching $112 million, a 9% increase compared to the same period in 2022. Profit from operations grew by 42% due to volume growth, operational efficiency, and cost controls.
December 20, 2023
Goddard Enterprises Limited (GEL) Announces Record-Breaking Revenue of Over $1 Billion in Financial Year Ending September 30
Barbados' pan-Caribbean conglomerate, Goddard Enterprises Limited (GEL), has achieved record-breaking revenue of over $1 billion despite the challenges posed by the pandemic. GEL's Ground Handling Division performed exceptionally well, surpassing other divisions in earnings.
December 20, 2023
Barbados Government Cancels VAT-Free Holiday Amid Economic Constraints and Social Media Anticipation
The government's decision to cancel the VAT-free holiday in Barbados has disappointed business figures, who expected the initiative to stimulate economic activity during the Christmas season.
December 19, 2023
Canada Implements Bill Mandating Tech Giants to Pay News Outlets, Dispute with Meta Continues
The Canadian law mandates tech giants to pay news outlets for content, leading to disputes with Facebook and Meta. Google has agreed to pay Canadian news outlets, but Meta has resisted. The law, Bill C-18, requires financial agreements between tech companies and news publishers.
December 19, 2023
No VAT-Free Day for Holiday Season: Ministry of Finance Dispels Anticipation amid Social Media Campaigns and Retailers' Sales
The Ministry of Finance advises against expecting a VAT-free holiday due to heightened expectations and potential economic slowdown. Retailers' announcements may have contributed to public anticipation.
December 19, 2023
Barbados Receives Approval from IMF to Draw Down US$76 Million for Economic Reform and Climate Policy Agenda
"Government of Barbados receives approval from the International Monetary Fund (IMF) to draw down US$76 million for economic reform program and climate policy agenda."
December 18, 2023
Grenadian Employers to Increase Minimum Salaries for Workers Starting January 2024: Official Notice
Starting January 1 next year, Grenadian employers, including the government, will pay increased minimum salaries to workers, including media workers. Minimum salary will range from EC$1,200 to EC$60 per day.
December 18, 2023
Low Christmas Decoration Sales in Bridgetown as Shoppers Delay Purchases
Despite high foot traffic, local store owners in Bridgetown are experiencing unusually low sales for the Yuletide season. Decorations like garlands and Christmas balls have seen little movement.