Uber has officially announced that its platform in Barbados, set to launch next Wednesday, will exclusively feature licensed taxis. This decision comes in response to concerns raised by local drivers who feared the introduction of private vehicles could undermine the island’s taxi industry. In a recent statement, Uber clarified that its service in Barbados will strictly adhere to the Transport Authority’s regulations, ensuring that fares are fully compliant and drivers are paid the mandated rates. The company emphasized that only the Uber Taxi product will be available on the app, accessible solely to licensed taxi operators. Additionally, Uber acknowledged that during the initial testing phase, some fare discrepancies occurred due to automated discounts but assured drivers that they would receive compensation based on the regulated rates. This move aims to align Uber’s operations with local industry standards while addressing the apprehensions of Barbados’ taxi community.
分类： business
-
Ansa McAl agrees to buy, distribute Guyanese products in Caribbean
In a landmark decision, the Trinidad-based Ansa McAl Group of Companies has committed to purchasing and distributing Guyanese products across its Caribbean supermarket chain. The announcement was made during a sod-turning ceremony at Chateau Margot, East Coast Demerara, where a state-of-the-art mall valued at over US$50 million is set to be constructed. The project, spearheaded by a Chinese company, is expected to be completed within two years and will include sporting facilities such as volleyball and basketball courts, as well as a farmers’ market and stalls for Indigenous Peoples to showcase their products.
Ansa McAl’s CEO, Anthony Sabga II, was inspired by Guyana’s President Irfaan Ali’s ambitious vision for collaboration between the government and private sector. President Ali emphasized the importance of removing trade barriers and ensuring Guyanese products gain a foothold in Caribbean markets. He also highlighted the need for investment in the value chain to position Guyana as more than just a retail hub.
The partnership aims to support small farmers and producers by consolidating their goods into shipping containers for distribution. President Ali expressed his disappointment at the lack of Guyanese products on Caribbean shelves and urged Ansa McAl to work with the New Guyana Marketing Corporation to facilitate this initiative.
This collaboration marks a significant step in regional trade, with Guyana seeking to leverage its contributions to the Caribbean for mutual economic growth. The project also underscores the potential for further investment in Guyana’s agricultural and industrial sectors, with a focus on value creation and infrastructure development.
-
Joseph: ‘Ripple effect may extend to consumers’
In a significant move during the October 13 budget presentation, the government announced a sharp increase in excise duties on spirits, beer, and tobacco, leading to an immediate surge in retail prices. Dianne Joseph, President of the TT Coalition of Services Industries (TTCSI), highlighted the dual implications of this decision: a potential boost to public health by curbing harmful consumption and a strain on the alcohol and tobacco industries. Joseph emphasized that while the policy aims to reduce alcohol-related accidents, violence, and diseases, it also places substantial cost pressures on major manufacturers like Carib Brewery and Angostura. These companies, being significant employers, may have no choice but to pass the increased costs onto consumers, potentially leading to higher prices for events and hospitality services. Balliram Maharaj, CEO of ADM Import and Export Distributors Ltd and Mayor of Arima, noted that such tax hikes are a common revenue-generating strategy for governments, especially given the decline in foreign exchange. Finance Minister Davendranath Tancoo detailed the new excise rates: spirits now face a duty of $158.50 per litre of pure alcohol, up from $79.25, while beer duties doubled to $10.28 from $5.14. Cigarette excise also doubled to $10.52 per pack of 20. Local companies have already adjusted their prices, with Carib, Stag, and Pilsner bottles now retailing at $13, up from $10, and Angostura 1919 seeing a price increase to $349.99 for a 750ml bottle.
-
China and US agree to fresh trade talks
In a significant development aimed at de-escalating trade tensions, China and the United States have agreed to hold another round of negotiations in the coming week. This decision comes as the two global economic powerhouses strive to avert another round of retaliatory tariffs that could further strain their already fraught relationship. The announcement follows a recent phone call between Chinese Vice Premier He Lifeng and US Treasury Secretary Scott Bessent, described by both sides as “candid, in-depth, and constructive.” The talks are expected to take place in person, with both parties emphasizing the urgency of resolving their ongoing trade dispute. The backdrop to these negotiations includes Beijing’s recent imposition of stringent controls on its rare earths industry, a move that prompted US President Donald Trump to threaten 100% tariffs on Chinese imports. Trump had also previously hinted at canceling his planned meeting with Chinese President Xi Jinping at the upcoming Asia-Pacific Economic Cooperation (APEC) summit in South Korea. However, in a recent interview with Fox News, Trump confirmed that the meeting with Xi would proceed, acknowledging that the proposed tariffs were unsustainable. The rare earths issue remains a critical point of contention, as these materials are essential for a wide range of technologies, from smartphones to military equipment. US Trade Representative Jamieson Greer also participated in the call, underscoring the high stakes of the negotiations. Both nations appear to be cautiously optimistic about finding a resolution, though the path forward remains uncertain.
-
Romain: Insurance premiums to increase over levy
Malabar/Mausica MP Dominic Romain has issued a stark warning that insurance companies are preparing to hike premium prices in response to the government’s proposed 0.25% levy on their assets. Speaking during the budget debate in Parliament on October 17, Romain, who also serves as the president of the TT Association of Insurance and Financial Advisors, revealed that he had met with leaders of major insurance firms to discuss the levy. He stated, ‘Based on what was said, preliminary numbers have been crunched, and increases are coming. It’s just a matter of how much and when.’
Romain’s comments came in response to Finance Minister Davendranath Tancoo’s call for companies to share the burden of the new measures and for citizens to resist cost pass-throughs. Romain argued that companies are unlikely to absorb the levy, as they have obligations to their shareholders, customers, and clients. ‘When the government intends to pick the pockets of these entities, you are in fact robbing the citizens as well,’ he emphasized.
The levy, announced by Tancoo on October 13, targets commercial banks and insurance companies due to their profitability, high liquidity ratios, and strong asset growth. Tancoo highlighted that despite these institutions’ financial health, average citizens face exorbitant fees and minimal returns on savings and investments. However, institutions operating under the Special Economic Zones Act will be exempt from the levy, which takes effect on January 1, 2026, and is projected to generate $575 million annually.
Romain also criticized the Finance Minister for portraying financial institutions as predatory, noting that many engage in corporate social responsibility and contribute to the community. He warned that applying the levy to institutions like Republic Bank, which is part of the National Investment Fund, would harm shareholders, including senior citizens relying on investment income for retirement expenses.
-
VIDEO: PM Browne defends and clarifies his statement on hosting foreign military assets in Antigua and Barbuda
PM Browne defends and clarifies his statement on hosting foreign military assets in Antigua and Barbuda
-
Two Dominican DAIFA members receive Master Financial Advisor credential in T&T ceremony
The Dominica Association of Insurance and Financial Advisors (DAIFA) has extended heartfelt congratulations to two of its esteemed members, Mrs. Cheryl Rolle and Mr. Brenton Hilaire, for earning the Master Financial Advisor (MFA) credential from the Life Insurance Marketing and Research Association (LIMRA). This prestigious achievement marks the culmination of a rigorous journey that began in 2018 and was officially recognized on October 4, 2025, during the Trinidad and Tobago Association of Insurance and Financial Advisors (TTAIFA) graduation ceremony held at the Hilton Hotel in Trinidad. The event was graced by Ms. Michelle Havelock from LIMRA, who represented TTAIFA and underscored the significance of this milestone in the financial advisory profession. Mrs. Cheryl Rolle, Principal Representative of Sagicor Life EC in Dominica, brings 37 years of unparalleled expertise in the insurance sector, characterized by her leadership, mentorship, and exemplary service. Mr. Brenton Hilaire, Agency Manager at Sagicor Life EC in Dominica, boasts 16 years of experience in administration and sales, standing as a strong advocate for continuous professional development in financial services. The MFA designation, globally acknowledged as the gold standard in financial advising, signifies mastery in client service, business management, and strategic financial planning—skills essential for the sustainable growth of the Caribbean’s insurance and financial services industry. In a commendation letter, David N. Levenson, President and CEO of LIMRA, LOMA, and LL Global, lauded both advisors for their discipline and dedication, emphasizing that the MFA credential embodies true professionalism. Both Mrs. Rolle and Mr. Hilaire expressed pride in their accomplishment, highlighting their commitment to raising industry standards and promoting financial literacy in Dominica. DAIFA celebrated this achievement as a testament to the excellence of its members and reaffirmed its dedication to fostering professional development and aligning with international best practices to elevate industry standards.
-
Government to Buy Fortis Assets; Opposition Demands Transparency
The Government of Belize has unveiled a strategic initiative to acquire Fortis Inc.’s electricity assets within the country, marking a significant shift in the ownership of key energy infrastructure. The acquisition encompasses Fortis’s 33.3% stake in Belize Electricity Limited (BEL) and its three hydropower facilities on the Macal River—Mollejon, Chalillo, and Vaca. The proposal is set to be presented to the House of Representatives for parliamentary approval on Friday, with the transaction expected to conclude by November 15, 2025. Funding for the purchase will be sourced through a special budgetary allocation, supplemented by a domestic equity and debt offering to offset initial expenditures. The government emphasized that this move aims to secure local control over critical energy resources and reduce electricity costs for consumers. A newly established entity, Hydro Belize Limited, will oversee the acquired assets. Based in San Ignacio, Cayo District, the company will be led by CEO Kay Menzies and governed by an interim board chaired by Ambassador Lynn Young, a seasoned professional with extensive experience in both BEL and Fortis Belize. The government’s advisory team included prominent firms such as NERA Consulting UK, Hallmark Advisory, Marsh LLP, and Sukhnandan Consulting LLC, which played a pivotal role in structuring the deal. However, the announcement has sparked criticism from the United Democratic Party (UDP) Opposition, led by Hon. Tracy Taegar Panton. In a press statement dated October 17, 2025, the UDP labeled the transaction as hasty and lacking transparency, citing the absence of independent valuation, regulatory scrutiny, and public disclosure. The Opposition also warned that the financing mechanism, particularly the use of a special budgetary appropriation, could exacerbate Belize’s national debt, placing an additional burden on taxpayers.
-
Message from Kemar Cumberbatch, president of the Barbados Co-operative & Credit Union League Limited, on the occasion of International Credit Union Day 2025
International Credit Union (ICU) Day serves as a powerful testament to the transformative impact of collective effort, particularly among communities often overlooked in traditional financial systems. In Barbados, the credit union movement has forged a deeply rooted and mutually beneficial relationship with the working-class and middle-income populations for generations. Today, 24 financial cooperatives operate under the Barbados Co-operative & Credit Union League Limited, showcasing the strength of shared resources and unified goals. What began as a grassroots initiative to address financial exclusion has evolved into a multibillion-dollar sector that continues to uplift individuals and communities alike. This year’s ICU Day theme, ‘Cooperation for a Prosperous World,’ resonates profoundly with Barbados’ credit union movement, highlighting its resilience and success. Since its inception in 1948, ICU Day has been a time to reflect on the movement’s history, celebrate its achievements, and honor the individuals who have driven its growth. It also serves as a platform to raise awareness about the critical role credit unions play globally in empowering members and improving lives. In Barbados, credit unions have remained steadfast through the island’s social and economic challenges, now holding nearly $3 billion in savings and $3.4 billion in total assets. Members increasingly rely on these institutions for business development, housing, education, transportation, and personal financial empowerment. The Barbados Co-operative & Credit Union League, headquartered in St. Michael, acts as the sector’s strategic hub, providing leadership training, governance support, and financial literacy programs. The league also champions initiatives to enhance technological capabilities and cybersecurity while advocating for the sector’s inclusion in the national deposit insurance program. As Barbados celebrates International Credit Union Day 2025, the movement reaffirms its commitment to cooperation, honoring its shared history and embracing future opportunities to build a prosperous and inclusive future for all.
-
Canadian travel agents explore Bim in ‘mega’ familiarisation tour
Barbados has initiated a strategic effort to enhance tourism from Canada, one of its key markets, through the Barbados Tourism Marketing Inc’s (BTMI) Spirit of Barbados Mega Fam week-long familiarization tour. This initiative aims to provide leading Canadian travel agents with an immersive experience of the island’s accommodations, attractions, and cuisine, while highlighting its expanding infrastructure and improved air connectivity from Canada. The program is part of a broader push to capitalize on the anticipated record-breaking winter tourism season. Speaking at the launch event at the Hilton Barbados Resort, Minister of Tourism and International Transport Ian Gooding-Edghill emphasized the importance of strategic partnerships with airlines, particularly Air Canada, as a cornerstone of Barbados’ tourism success. He also revealed plans to expand connectivity with secondary Canadian markets, including Atlantic Canada, Ontario, and Western Canada. To support this growth, major infrastructure projects are underway, including the modernization of Grantley Adams International Airport and upgrades to the Bridgetown Port, which will enhance passenger and cruise experiences. BTMI Director for Canada, Eusi Skeete, highlighted the importance of the Mega Fam tour in offering agents firsthand insights into Barbados, beyond traditional training and promotional materials. He noted that participants were selected based on their strong sales performance for Barbados this year, with the goal of further boosting winter and summer bookings. Skeete emphasized that the initiative is not just about increasing bookings but also about strengthening relationships with travel partners and creating new opportunities for Barbadian tourism stakeholders. By showcasing the island’s unique offerings, Barbados aims to solidify its position as a top destination for Canadian travelers.