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Study: Scrapping air tax could boost economies

BRIDGETOWN, Barbados, Nation News - TOP CARIBBEAN TOURISM OFFICIALS are supporting calls for Great Britain’s air passenger duty (APD) to be scrapped after an economic impact study by audit firm PricewaterhouseCoopers (PwC) showed abolishing the tax would help the region’s tourism sector. The study shows that getting rid of the APD could bring a lasting boost to Britain’s economy, generating a net tax gain for the Treasury and creating almost 60 000 new jobs by 2020.

Dairy farmers consider diversifying product

BRIDGETOWN, Barbados, Advocate - A 42 per cent cut in the quota from the Pine Hill Dairy (PHD) would be disastrous for the local dairy industry. This is the harsh reality painted by President of the Barbados Dairy and Beef Producers’ Association, Brian Allan, who explained that to date, farmers have been moving around their quota among themselves to avoid dumping, since the announcement of a 25 per cent cut back in September by Pine Hill Dairy. The Farmers’ Committee is due to meet with the PHD to negotiate the cuts for March, April and May, where the suggestion is a 42 per cent cut.

4H and Junior Achievers team up with CIBC FirstCaribbean

BRIDGETOWN, Barbados, Advocate - The CIBC FirstCaribbean International Bank, has announced that they will be sponsoring the Junior Achievement (JA) Programme, so that more students throughout the island will be able to further develop and practise their entrepreneurial skills.

With this investment the CIBC FirstCaribbean Bank has become a ‘champion’ as the proceeds will allow the JA the flexibility to make a substantial impact in a variety of areas, over the next 3 years at the Grantley Adams Secondary School, which both the Bank and the JA have adopted.

Caribbean tourism sector on the upswing

BRIDGETOWN, Barbados, CMC – The tourism industry in the Caribbean is showing signs of recovery with the sector recording a 5.4 per cent increase last year as compared to 2011, a senior Caribbean Tourism Organisation (CTO) official has said. CTO chairman Beverly Nicholson-Doty said that the state of the industry gives “reason to be optimistic” and that “all the signs suggest Caribbean tourism is rallying.

Oistins has rich history

BRIDGETOWN, Barbados, Advocate - Minister of Transport and Works and Parliamentary Representative for Christ Church South, John Boyce, is of the belief that the town of Oistins could soon be a serious contender for the next UNESCO World Heritage Site in Barbados. Making these comments at the recent unveiling of a commemorative plaque to pay tribute to the fishermen who have lost their lives at sea, Boyce noted that the history of Oistins is very significant.

EDITORIAL: CDB’s timely warning for Caricom govts

BRIDGETOWN, Barbados, Nation News - When international financial institutions (IFIs) tell it like it is as they assess the problems/challenges confronting comparatively small and disadvantaged economies, there is a tendency for some governments to suggest external political considerations or prejudices.

BARBADOS-ELECTIONS-Prime Minister calls on voters to reject Owen Arthur

BRIDGETOWN, Barbados, CMC – Prime Minister Freundel Stuart has called on voters to reject the man seeking his job and ensure that the ruling Democratic Labour Party (DLP) is returned to power for another five year term on February 21. Stuart, addressing supporters in the St. Peter’s constituency on Monday night, said that Owen Arthur, the leader of the Barbados labour Party (BLP) and a former prime minister had “fallen very far short of the expectations of the people. “From 1984 until the year 2013 in the month of February, he had a chance to prove himself to the people of St. Peter.

New guidelines for B’dos off-shore sector

BRIDGETOWN—The Central Bank of Barbados says it has developed a new framework for granting licenses for prospective financial institutions seeking to operate here warning that it would reject any applicant if it determines that approval would not be in the public interest. The central bank said that the new framework is in furtherance of its responsibility to regulate and supervise licensees under the Financial Institutions Act (FIA) and the International Financial Service Act (IFSA).

BARBADOS-POLITICS-Barbados on “fiscal cliff” warns Opposition Leader

BRIDGETOWN, Barbados, CMC – Opposition Leader Owen Arthur is warning of a “fiscal cliff” in Barbados and accuses the Freundel Stuart government of putting the country in that crisis. Addressing a political meeting of his Barbados Labour Party (BLP) on Sunday night, Arthur, who is seeking to regain the government he lost in 2008, said that the decision of the government to call the general election so late could have an effect on the economy particularly as it relates to the government’s Estimates of Revenue and Expenditure.

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