The the national discussion of late has been about Canadian banks and C&W huffing FLOW. Soon it will be about the Solid Waste Tax as the year end deadline approaches. From one issue to the next, just like a rollercoaster. BU is not surprised at the turn of of events. It is an open secret […]
Submitted by Pachamama After World War Two virtually all national economies were in ruins, except the United States, of course. These circumstances gave rise to the United States dollar as the medium of exchange between countries. In this process countries were forced to exchange their national currencies for US dollars to settle amounts owned to […]
Submitted by M.R.Thompson CIBC announced in mid-May that it would take a $420 million goodwill impairment charge related to its Caribbean operation. CANADIAN PRESS FILE PHOTO It is generally recognized that the majority of the Caribbean Financial System is dominated by Large Canadian Banks. As the financial economy of the Caribbean slips every deeper into […]
The media across the Caribbean has been highlighting the matter of whether Royal Bank/RBTT employees are being marginalized. According to our source employees are disappointed about the deafening silence of the local media – see Trinidad Express article. Our source opines that in local banking circles RBC has become a laughing stock, the merger has […]
Submitted by Due Diligence Thanks David for the link to the PM’s testimonial for Ocean Two at http://bajan.files.wordpress.com/2013/08/untitled1.mp3. Not being familiar with the Ocean Two property, I checked it out at TripAdvisor which confirms the PMs glowing report. It is great to read. It is a bit confusing why the PM would single out one […]
Submitted by Due Diligence We hear from the Minister o Finance (and others) that the road to recovery and sustainable growth is constructed on such things as: Increased Competitiveness Increased Productivity Increased Efficiency Accountability Sounds great; but the key is in the execution. The same principles, of course, apply to both the public and private […]
Submitted by Napolean Bonaparte So what is the next move now? Starcom 5.30 pm afternoon news, (but not CBC TV) informed the listening public of the latest twist regarding a $190 million loan facility arrangement supposedly effected to the benefit of UWI …. to be repaid by the government of Barbados. Scotiabank spokesperson informed a […]
BU has been asked to highlight the fact that RBC has started to retrench workers in Bahamas. Ever since RBC acquired the assets of RBTT in 2007 interested observers have been waiting for the hammer to drop on staff as a result. When two business entities come together there is always an inevitable result. The […]
Submitted by Not Taken Yet another interesting (scary for Barbados) article – Cameco’s $800-million tax battle. I have been sending these recent articles as a public service so the Minister of Finance (MOF) and Governor of the Central Bank have a heads up on the attack on Canadian tax evaders/avoiders that is undoubtedly about to […]
Notes From a Native Son: Are We Seeing the Beginning of a Chasm Between the Ministry of Finance and the Central Bank?
Introduction: We must all offer our congratulations to finance minister Chris Sinckler for having the bravery to change his mind about the management of the economy. One can only imagine the amount of pressure that was on him, mainly from the DLP’s private economic advisers and the central bank governor, to continue down the policy […]
Introduction: When the voters of Barbados enter the polling booths on Thursday, it will be an enormous challenge for them to abandon old political tribal loyalties and objectively put the nation, future generations and their own futures before irrationally supporting a party or candidate they have always supported, while suspending reason. The harsh truth is […]
Notes From a Native Son: Captain the Ship is Sinking – Is Worrell the Best Man to be in Charge of the Central Bank at a Time like this?
Introduction: In the preface to its recent Alternative Worlds report, the US National Intelligence Council observed: “The world of 2030 will be radically transformed from our world today. By 2030, no country – whether the US, China, or any other large country – will be a hegemonic power. “The empowerment of individuals and diffusion of […]
Introduction: As we enter the dawn of a new year, all attention will be focused on the coming general election and, for some of us, the paucity of ideas battling for votes from a badly informed electorate. As things stand, it is largely a competition between tweedledee and tweedledum, although the recent injection of a […]
Republic Bank (RBL) recently rebranded Barbados National Bank (BNB) with the Republic Bank blue. It pained many Barbadians to witness WE bank sold to “others” and it pained further when the BNB brand was dismantled and replaced with RBL’s. If it WAS any consolation, central government and the NIS owned a minority shareholding which gave […]