In response to recent concerns regarding the Central Bank of Barbados' economic report and analysis, the institution has reiterated its commitment to accuracy, transparency, and public trust—principles that have been foundational throughout its 50-plus-year history. The Central Bank emphasizes the vital importance of precise, transparent, and objective economic reporting in maintaining public confidence...
The Caribbean Tourism Organization (CTO) has announced the preliminary roster of speakers for its upcoming State of the Industry Conference (SOTIC) in Grand Cayman, set to take place early next month. This year’s conference, held at the Westin Grand Cayman Seven Mile Beach Resort and Spa, is centered around the theme "Caribbean Tourism: Fueling Our Lifeblood." The theme underscores the critical...
Fortress Fund Managers (FFM) may see significant benefits for their Barbados dollar funds as global interest rates begin to decline. In FFM's June 2024 quarterly report, it was highlighted that the Fortress Caribbean Growth Fund, the Fortress Caribbean High Interest Fund, and the Fortress Caribbean Pension Fund are well-positioned to take advantage of this global trend. View Commercial Properties...
The Government of Barbados is crafting a comprehensive modern industrial policy aimed at strengthening local manufacturers and enhancing their ability to compete in international markets. This announcement was made by Minister of Industry, Innovation, Science, and Technology, Marsha Caddle, during the Barbados Manufacturers’ Association’s (BMA) 60th anniversary Mix & Mingle event at Hayman’s...
President Donald Trump's corporate trust is in the process of selling a multimillion-dollar Caribbean resort, sparking renewed ethical debates. The property, known as Le Chateau des Palmiers, boasts two villas and five acres of prime beachfront on French St. Martin. This sale raises questions about potential conflicts of interest, as wealthy buyers may seek to gain favor with the administration by...
CARICOM member states have made significant strides in their renewable energy (RE) efforts, achieving a commendable 12% RE electricity penetration by 2022. This progress, while falling short of the original goal of 27%, marks a crucial step in the region's energy transition towards sustainability. This milestone was highlighted during a webinar hosted by The Caribbean Centre for Renewable Energy and...
In a recent interview with Vidwat Keshan, Associate Editor of Travel And Tour World, Cheryl Carter, Chief Operations Officer of Barbados Tourism, shared key insights on the island's evolving strategies to enhance its global tourism appeal. Speaking from the Arabian Travel Market (ATM) 2024, Carter discussed the initiatives that are positioning Barbados as a premier destination for luxury weddings, MICE...
Caribbean Real Estate News: Highlights and Insights Luxury Real Estate Boom: The Caribbean continues to be a hotspot for luxury real estate, with significant projects in the Cayman Islands, Bahamas, and Barbados. The Cayman Islands, known for its favorable tax environment and strong demand for luxury properties, remains resilient despite global economic challenges. The Bahamas is experiencing a shift...
In 2024, Barbados emerged as a key contributor to the growth of air traffic in the Caribbean, driven by a remarkable recovery in its tourism sector. The Grantley Adams International Airport (GAIA) played a pivotal role, witnessing a significant rise in passenger numbers as the island’s tourism industry rebounded from the disruptions of previous years. Monthly arrivals at GAIA consistently surpassed...
Barbados is set to launch its inaugural Battery Energy Storage System (BESS) project, a significant step towards enhancing the country's renewable energy infrastructure. This initiative aims to bolster the electricity grid and facilitate the connection of previously stalled solar photovoltaic (PV) systems. The Ministry of Energy and Business is spearheading a three-day Procurement Design Workshop,...