The island’s tens of thousands of credit union members have been pumping more money into their savings accounts, but the sector’s profitability has waned slightly as fewer members took loans in 2020. This was revealed in the latest Central Bank of Barbados and Financial Services Commission (FSC) Financial Stability Report which disclosed the sector’s profitability […]
Tag Archives: Barbados Business
Barbados’ two chief regulators of the financial sector have taken note that in 2020, insurance companies and credit unions faced increased exposure to risks from commercial banks because both segments increased the level of their deposits in these institutions. Addressing the issue of contagion, the Central Bank of Barbados and the Financial Services Commission (FSC) […]
by Marlon Madden The tough decision taken in 2018 to restructure Government’s debt and the employment of several economic advisors are today bearing fruit, Prime Minister Mia Mottley has declared. In an effort to silence her critics on the most recent hiring of a Public Advisor on COVID-19, Mottley, who is the Minister of Finance, […]
by Marlon Madden Although he is not yet sure what career path he wants to take, eight-year-old Jessie Olton is already making a name for himself through a T-shirt business that he uses to raise awareness about literacy and violence. The Charles F Broome Memorial Primary School student, who said that he is very concerned […]
by Marlon Madden Come next month, small business operators in Barbados and the rest of the Caribbean Community (CARICOM) will have the opportunity to access up to US$25,000 in funding to help them improve their operations. Executive Director of the Caribbean Export Development Agency Deodat Maharaj announced on Tuesday that as part of the agency’s […]
The number of claims from motor vehicular accidents took a dip last year, thanks to the COVID-19 pandemic. This, as the level of gross premiums for the insurance industry in Barbados fell by some 1.7 per cent last year to reach $488 million. According to the recently released 2020 Financial Stability Report, the decline in […]
President of the Caribbean Court of Justice (CCJ) Justice Adrian Saunders has bemoaned the fact that Caribbean people, for the most part, have not been making greater use of their rights under the Revised Treaty of Chaguaramas. He was speaking at the handing over ceremony in which third-year law students of the Cave Hill Campus […]
Hours before the United States slapped Antigua and Barbuda with an advisory that warned Americans not to visit the island due to widespread COVID-19 infections, a regional tourism body says such warnings do not tell the full picture. In a statement issued Tuesday, the Caribbean Hotel and Tourism Association (CHTA) said while travel advisories have […]
by Marlon Madden Workers in the tourism industry are being encouraged to take better care of their mental, financial, physical and emotional health as they continue to cope with the COVID-19 pandemic and its devastating impacts. Chairman of the Barbados Hotel and Tourism Association (BHTA) Geoffrey Roach said improvement in these areas will improve the […]
As Barbados intensifies its COVID-19 vaccination programme, two economists from the Inter-American Development Bank (IDB) strongly suggest that the region’s economic recovery will depend heavily on countries’ ability to test their populations and providing access to vaccines, particularly for frontline workers. In the IDB’s latest Quarterly Bulletin, economists Henry Mooney and David Rosenblatt examine the […]