On July 19, 2024, a significant global IT disruption unfolded due to a flawed software update from CrowdStrike, a prominent cybersecurity firm partnering with major cloud platforms like Microsoft Azure, Google Cloud, and Amazon Web Services. Serving 95% of Fortune 500 companies, CrowdStrike’s malfunction severely impacted Windows users and critical sectors such as airlines, healthcare, and banking. CEO...
The summer of 2024 has been exceptionally strong for hotels across the Caribbean, including Barbados, according to the latest data from STR, a leading hotel analytics firm. Hotels in the Caribbean have not only met but surpassed the impressive figures from last year, which was a record-breaking year for many in the region. Caribbean Hotel Performance In June 2024, the Caribbean region saw a hotel...
Barbados has embraced a proactive stance in tackling climate challenges. Situated in the Caribbean, a region threatened by hurricanes, droughts, and rising seas, Barbados has launched the ambitious "Roof to Reefs" initiative. This holistic approach integrates local solutions aimed at fortifying homes, critical infrastructure, and preserving coastal and marine ecosystems, bolstering resilience against the...
The financial landscape in Barbados and the broader Caribbean is set to benefit from the introduction of the Blue Green Bank (BGB). Following the launch of the African Import & Export Bank, BGB is another significant entrant poised to enhance development financing, particularly in climate resilience. The BGB, backed by the Green Climate Fund, aims to reduce the cost of financing for projects...
Caribbean Real Estate News: Highlights and Insights Commercial Developments in Barbados: The Welches Commercial Complex, a $50 million retail hub, is set to open this year. This multi-million dollar project, also known as 'W Plaza,' aims to boost commercial activities in the area and provide a new shopping destination for residents and visitors. Read more.. Hotel Investments: The Caribbean hotel...
A multi-million dollar commercial complex, the Welches Commercial Complex or 'W PLaza', is set to open its doors later this year. This significant development, announced by Project Manager Justin Oran during a media tour, marks a milestone in the local retail and commercial landscape. The $50 million project, envisioned 14 years ago, is designed as a large-scale retail park catering to diverse needs....
The sixth Land X-Change Meetings Incentives, Conferences, and Exhibitions (MICE) conference was officially welcomed by the Barbados Tourism Marketing Inc. (BTMI) and eGroup Communications on Thursday evening. The event, held at the Wyndham Grand Barbados Sam Lord’s Castle, marks a significant milestone for the island's tourism industry. Andrea Franklin, CEO of BTMI, highlighted Barbados’ positive...
The Central Bank of Barbados has launched new Market Conduct Guidelines to improve transparency and fairness within the financial services sector. Effective as of last Friday, these guidelines establish minimum standards for how licensed financial institutions should interact with their clients. Governor Dr. Kevin Greenidge introduced the new regulations on Monday at the Courtney Blackman Grand Salle...
As a leading force in the Caribbean's post-pandemic recovery, the US Virgin Islands is introducing a pioneering event: the inaugural Caribbean Tourism Summit in St Thomas. This highly anticipated event, set for July 25, will bring together key industry players to discuss the state of tourism across the Caribbean. The summit aims to become an annual gathering spotlighting the tourism industry in the US...
The Caribbean Investment Forum (CIF) 2024 commenced at the Arthur Chung Conference Centre in Georgetown, Guyana, spotlighting the region's vast investment potential and the importance of public-private partnerships for economic transformation. Organized by the Caribbean Export Development Agency (Caribbean Export) under the theme ‘Transforming Our Future, Empowering Growth’, and in partnership with...