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FTC talking tough


Shawn Cumberbatch
This pole is one of many that fell during the passage of Hurricane Elsa. (Picture by Jameel Springer)
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The Fair Trading Commission (FTC) has put Barbados’ companies and service providers on notice.
These entities are being warned that they could face civil and criminal court action as the FTC intensifies efforts to protect consumers and ensure there is fair competition.
While the
Fair Competition Act and Consumer Protection Act legislate the type of measures the regulator can take, effective August 1 it will also be implementing a new
Enforcement Policy For Fair Competition And Consumer Protection Matters. ....

Jameel Springer , Shawn Cumberbatch , Fair Trading Commission , Unfair Competition Act , Consumer Protection Act , ஜமீல் ஸ்பிரிங்கர் , ஷான் கும்பேர்பட்ச் , நியாயமான வர்த்தக தரகு , நியாயமான போட்டி நாடகம் , நுகர்வோர் ப்ரொடெக்ஶந் நாடகம் ,

FTC rules out compensation


Shawn Cumberbatch
Some of the damage caused by Hurricane Elsa at the junction of Princess Royal Avenue and Collymore Rock, St Michael. (FILE)
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Barbados’ major utility companies whose ability to provide service was hampered by Hurricane Elsa will be exempt from paying customers compensation, says the Fair Trading Commission (FTC).
However, the FTC is warning the Barbados Light & Power Company Limited (BL&P), Barbados Water Authority (BWA) and Cable & Wireless (Barbados) Limited (C&W) that they “are not allowed free reign and are still expected to restore service within the shortest possible time frame”.
The regulator has decided that the named utility companies, which have some Barbadians without service seven days after the storm damaged or destroyed hundreds of properties, qualify for a standards of service exemption in light of the force majeure circumstance – unforeseeable circumstances preventing fulfilment of a contract. ....

Shawn Cumberbatch , Barbados Water Authority , Barbados Light Power Company Limited , Standards Of Service , Fair Trading Commission , Cable Wireless Barbados Limited , Hurricane Elsa , Princess Royal Avenue , Collymore Rock , Barbados Light , Power Company Limited , ஷான் கும்பேர்பட்ச் , பார்படோஸ் தண்ணீர் அதிகாரம் , பார்படோஸ் ஒளி பவர் நிறுவனம் வரையறுக்கப்பட்டவை , தரநிலைகள் ஆஃப் சேவை , நியாயமான வர்த்தக தரகு , கேபிள் வயர்லெஸ் பார்படோஸ் வரையறுக்கப்பட்டவை , ப்ரிந்ஸெஸ் அரச அவென்யூ , பார்படோஸ் ஒளி , பவர் நிறுவனம் வரையறுக்கப்பட்டவை ,

$524m in foreign direct investment


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Barbados received $524 million in foreign direct investment last year, putting it among a select group of small island developing states (SIDS) that received the most of such inflows.
That is based on foreign direct investment (FDI) information published in the United Nations Conference On Trade And Development’s (UNCTAD) World Investment Report 2021.
“In Barbados, inflows increased by 22 per cent to $524 million despite the pandemic. FDI diversification efforts targeted renewable energy, creative and artistic industries and agro-industries, among others,” the report stated.
UNCTAD reported that in 2020, under the strains of the pandemic, FDI inflows to the SIDS fell by 40 per cent, to $5.2 billion, and said this drop “eliminated the gains recorded in 2019, which followed three consecutive years of decline”.(SC) ....

Shawn Cumberbatch , United Nations Conference On Trade And Development , James Zhan , World Investment Report , ஷான் கும்பேர்பட்ச் , ஒன்றுபட்டது நாடுகள் மாநாடு ஆன் வர்த்தகம் மற்றும் வளர்ச்சி , ஜேம்ஸ் ஜான் , உலகம் முதலீடு அறிக்கை ,