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The ongoing trade deficit problem for T&T and Jamaica

BRIDGETOWN, Barbados - THE RECURRING challenges of a widening trade deficit for Jamaica with Trinidad and Tobago featured again in the Jamaican senate last Friday but climaxed with an understanding to pursue a non-confrontational strategy for reversal of this lingering negative trend.
For all their often feisty political quarrels, both government and opposition senators joined forces to echo dissatisfaction over the very significant trade balance, which currently stands at some BDS$2 billion in Trinidad and Tobago’s favour.

EDITORIAL: Facing up to economic reality

BRIDGETOWN, Barbados - THE RECENT notices of pending layoffs in the private sector will undoubtedly invite an aura of scepticism and concern among our working class population. The question on the lips of many of these workers will reside in the wonder “whose turn is next?”
Although revelation of current unemployment statistics remains veiled in secrecy, the obvious closure of a number of business places openly tells the story that there would inevitably have been concomitant job losses.

B’dos slipping

BRIDGETOWN, Barbados - BARBADOS, which once featured as one of the most sought after Caribbean tourist destinations has slipped from that position while St Lucia is slowly taking over. This was revealed in the just released Hayes & Jarvis May 2013 Long Haul Holidays Trend Report in which Barbados is among the Top 10 Bestselling Destinations once more. Despite this general trend however, Barbados is enjoying the spin-off from British Airways Holidays marketing, evidenced through a 50 per cent increase in business to the island.

Eye on energy

BRIDGETOWN, Barbados - RENEWABLE ENERGY will be the centrepiece of Government’s economic programme outlined by Governor General Sir Elliott Belgrave in the Throne Speech yesterday.
In the speech, a feature of the opening of a new parliamentary term, the Government committed itself to not only reducing the island’s overall $1 billion fuel bill by $150 million by 2018, but also to using hybrid and electric buses for public transportation.

Green goal

BRIDGETOWN, Barbados - THE Ministry of the Environment remains committed to Barbados’ goal of becoming the greenest economy in the Caribbean and Latin America. Minister Dr Denis Lowe made the pledge yesterday at The Crane Residential Resort, St Philip, where he toured a showcase under the theme Think, Eat, Save as the hotel commemorated World Environment Day. Lowe said the journey to a green economy would be determined by how the island’s environment was treated “because we believe that we can have a sustainable economy without compromising the virtues of our environment”.

EDITORIAL: Something amiss with our tourism

BRIDGETOWN, Barbados - We often say that tourism is our business and that is true since it is a major foreign exchange earner for our vulnerable open economy which needs foreign exchange to ensure its stability. Recent developments have, however, caused us some concern and the latest statistics do not give us any comfort. A recent panel discussion held at the St Michael West constituency branch of the Barbados Labour Party was one of the latest events which examined our tourism industry.

Africa yet to tap full potential

BRIDGETOWN, Barbados - LAST MONTH Africa’s 54 leaders celebrated the 50th anniversary of the founding of the Organization of African Unity (OAU) – it became the African Union (AU) in 2002 – which had its origins in the struggle for decolonization and against apartheid. It was founded in 1963 in Addis Ababa, Ethiopia, the venue chosen to mark the anniversary. Since it was founded, the AU has sought to push for peace and prosperity and to unite Africa. But opinion is divided on the success.

Meetings with Chinese President ‘fruitful’

BRIDGETOWN, Barbados - Prime Minister Freundel Stuart has described as “very fruitful” the discussions he had last Sunday with the President of the People’s Republic of China, Xi Jinping, in Port-of- Spain.
President Xi was on an official visit to Trinidad and Tobago over the weekend, where he held bilateral meetings with the Heads of Government of the Caribbean Community countries which have diplomatic relations with China.

Two CARICOM countries given extension to meet CFATF guidelines

BRIDGETOWN, Barbados, CMC – Two Caribbean Community (CARICOM) countries have until November to meet the stipulations outlined by the Caribbean Financial Action Task Force (CFATF). The CFATF met in Nicaragua last week and according to Dominica’s Attorney General Levi Peters the island has been given “certain deadlines to comply with certain recommendations by the plenary”. Peters said that Dominica had been able to pass certain pieces of legislation within the last few months including the Suppression of Financing Terrorism Proceeds of Crime Amendment.

Regional delegation to discuss CARICOM Strategic Plan

BRIDGETOWN, Barbados, CMC – A Caribbean Community (CARICOM) delegation begins a series of consultations on Wednesday examining the 2014-19 Strategic Plan for CARICOM. Barbados’ Ambassador to CARICOM, Robert Morris, said the island is one of the pilot countries for the consultation process which was agreed upon at a meeting last month in Trinidad and Tobago.

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