Section
Markets, enterprise, and economic developments.
Lead story
First Citizens Bank pledges $70,000 to support the return of Fusions at Barbados' Crop Over Festival, featuring traditional and contemporary musical talent. NCF expresses gratitude for the bank's ongoing sponsorship.
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Barbados Light and Power Company's new Hampton Substation benefits 12,000 residents, enhancing electricity infrastructure against storms. Indoor facility protects equipment, improves service, with plans for future upgrades and expanded capacity.
Commercial banks in Barbados are increasingly relying on fee income for profitability, with noninterest income growing from 23% to 33% over a decade. They earned $1.26 billion in fees and commissions between 2014 and 2022.
Barbados Light & Power Company (BLPC) is prepared for an active hurricane season with reinforced infrastructure and early preparations. Supply chain adjustments and new facilities enhance readiness for potential weather challenges.
SOL Petroleum (Barbados) Ltd found liable for abusive business practices affecting national security, ordered by Fair Trading Commission to cease practices and make restitution to state-owned Barbados National Oil Company.
