A LEADING United Kingdom-based property and estate website is reporting a high demand for prime property in Barbados.Property-Abroad.com noted last week that buyers were picking up properties here “at prices not seen since 2006”.In an article headlined Barbados Property Benefiting from Prime Property Bargains, the website noted: “Barbados is a former British colony, with a stable government, a favourable tax regime, a friendly and laid-back environment, and, of course, it is also one of the world’s true paradise locations.”It also asserted that Barbados property also benefited from the fact that demand for prime property was reported to be higher than any other type of property.“This is thought to be because of two main reasons:A: the wealthy have been least affected by the crunch, and now that fears over whether or not they will be have subsided they are treating themselves to luxury properties in paradise destinations.B: cash is currently very unstable, with fears over whether or not major countries like the UK and Ireland can repay their debts.”Property-Abroad.com said there was a real desire among the wealthy to put cash savings in tangible assets as a hedge against financial instability. “This was responsible for the gold rush, and now that gold prices are off the charts, people are turning their attention to prime property, which holds its value better than other property classes. “Whatever the reason, prime property sales are accelerating, with a focus on getting the real top properties at bargain prices. Thus, Barbados property, which has long been some of the primest property in the world, is obviously doing very well at the moment.”The website said good rental yields and capital growth were expected as more and more tourists flocked to Barbados in search of that idyllic holiday retreat in the sun. Prices, it said, were starting from £225 000 (about Bds$653 540).Earlier this year, leading real estate mogul Paul Altman said the high end property market was beginning to pick up after a slump last year. (MB)
BURNING MATTER
by CARLOS ATWELLGOVERNMENT’S FAILURE to address the issue of appointments in the Barbados Fire Service could lead to a decline in morale in that critical agency.That is the warning from newly appointed Chief Fire Officer Wilfred Marshall, who said there were 50 vacancies which were being filled by officers acting in those positions.Marshall, whose appointment was made official last Saturday, was speaking to the media yesterday at the Probyn Street, St Michael headquarters.He said there were nine positions of leading fire officer; eight sub officers; one station officer; one divisional officer; the post of deputy chief fire officer and 30 fire officer positions still to be substantively filled.Marshall explained that it was not up to the Fire Service’s hierarchy to fill those posts, but it was the responsibility of the Services Commission and the Governor General.“As an urgent, pressing issue, I want to bring meaningful closure to an outstanding human resource matter which relates to appointments and promotions. I have to commend all those officers in the service who have been impacted by this inaction, which has the potential to cause a great decline in morale.“These officers have responded well but operate in an environment of uncertainty which causes them to exercise their daily function among their subordinates with caution as they may end up having to return to their substantive ranks and work as peers with those same former subordinates.”Marshall said this could cause the officers not to give of their best, adding his next step would be to approach the Services Commission to ask that decisions be taken.Randolph Cox is now the acting deputy chief fire officer, after acting in the role of chief fire officer following the retirement of Chesterfield Mayers in October 2008.Former acting deputy, Lloydson Phillips, has returned to the post of senior divisional officer. However, neither Cox nor Phillips had applied for the job of chief fire officer.•[email protected]
CGI PULLS OUT
CONSUMERS GUARANTEE INSURANCE COMPANY LIMITED (CGI) has pulled out of an agreement to purchase CLICO International General Insurance Limited (CGI), a subsidiary of CLICO Holdings Barbados Limited.The DAILY NATION understands that top management of CLICO Holdings Barbados Limited received an official letter yesterday from CGI informing the company that they would be “withdrawing their offer” with respect to the purchase arrangement.When contacted, a senior executive at CGI confirmed the company had “officially pulled out”.Asked for reasons, the source said: “We can’t comment on that because we are bound under a confidentiality agreement.” The source also said he could not comment on what repercussions, if any, CGI’s pull-out would have for CLICO.However, the DAILY NATION understands that relevant documentation from CLICO which had been requested by CGI had not been provided, and this had a bearing on the decision.Yesterday, CLICO Holdings Barbados Limited’s executive chairman Leroy Parris declined to comment.This latest development comes just three weeks after permanent secretary in the Ministry of Finance and chairman of the Oversight Committee set up to manage the sale of CGI, William Layne, said “a sale agreement has been concluded with Consumers Guarantee Insurance for the sale of CGI”.The Oversight Committee is also seeking to sell another subsidiary, CLICO Mortgage and Finance Corporation (CMFC), to the Barbados Public Workers’ Co-operative Credit Union Ltd (BPWCCU). Anthony Griffin, president of the BPWCCU disclosed in March that its purchase of CMFC was imminent. Efforts so far to attract a buyer for a third subsidiary, CLICO International Life Insurance Limited (CIL), have been futile because of the company’s liquidity problems and the deficit in its Statutory Fund.The Government-backed Oversight Committee has another 19 months to sell CIL before a $300 million demand on the company is due.That’s because the bulk of CLICO Life’s Executive Flexible Premium Annuities (EFPAs) – which promised high interest rates on deposits – become due in 2012.In March, Layne said if the Oversight Committee failed to find a buyer for CIL by 2012, the CLICO assets would have to be sold.CLICO has been at the centre of a financial firestorm over the past 15 months, following the near collapse of its parent company, CL Financial, in Trinidad and Tobago.With assets estimated at more than $1 billion, CLICO has already paid out over $118 million to policyholders.•[email protected]
Jamaica gov’t to extradite Dudus
The Prime Minister Bruce Golding has said sorry for the manner in which he has handled the Manatt affair. He has also confirmed that the justice minister, Dorothy Lightbourne, will sign the extradition request for West Kingston strongman Christopher ‘Dudus’ Coke. Mr Golding made the announcement in an address to the nation a short while ago. Mr Golding has also confirmed that he will stay on as Prime Minister despite intense calls for him to resign. According to Mr Golding, he has decided to stay on, because his party rejected his offer to resign. However, Mr Golding says it will not be business as usual as there will now be tough, new and “uncompromising” measures. “Jamaica’s business cannot continue to be disrupted by the ordeal of the last few months,” Golding said in his address to the nation. The Prime Minister’s address the nation also followed the controversy over the Manatt, Phelps and Phillips affair. The affair involves the hiring of the US-based law firm
purportedly by the governing Jamaica Labour Party to lobby America in the request for Coke to be extradited on drug and gun charges. Today as news spread that the request would be signed several businesses in downtown Kingston closed their shutters as the anxiety mounted. The Supreme Court also ordered workers to go home. There are also reports that businesses in Spanish Town, St Catherine also closed their shutters as police and soldiers begin to increase patrols across the commercial centres in St Catherine and the corporate area.
No to CLICO
CONSUMERS GUARANTEE INSURANCE COMPANY LIMITED (CGI) will not be buying CLICO International General Insurance Limited (CIG) after all.The NATION understands that top management of CIG’s parent company, CLICO Holdings Barbados Limited, received an official letter today from CGI informing the company that they would be “withdrawing their offer” with respect to the purchase arrangement.When contacted a senior executive source at CGI confirmed that the company had “officially pulled out” of the purchase arrangement with CIG. The source refused to comment further on the reasons behind the withdrawal.CLICO Holdings Barbados Limited’s executive chairman Leroy Parris declined to comment on CGI’s move.This latest development comes just three weeks after permanent secretary in the Ministry of Finance and chairman of the Oversight Committee set up to manage the sale of CIG, William Layne, stated that “a sale agreement has been concluded with Consumers Guarantee Insurance for the sale of CIG”.The Oversight Committee is also seeking to sell another subsidiary, CLICO Mortgage and Finance Corporation (CMFC), to the Barbados Public Workers’ Co-operative Credit Union Ltd (BPWCCU). Anthony Griffin, president of the BPWCCU disclosed in March that its purchase of CMFC was imminent. Efforts so far to attract a buyer for a third subsidiary, CLICO International Life Insurance Limited (CIL), have been futile because of the company’s liquidity problems and the deficit in its Statutory Fund.The Government-backed Oversight Committee has another 19 months to sell CIL before a $300 million demand on the company is due.That’s because the bulk of CLICO Life’s Executive Flexible Premium Annuities (EFPAs) – which promised high interest rates on deposits – become due in 2012.In March Layne said if the Oversight Committee failed to find a buyer for CIL by 2012, they would have to sell CLICO’s assets.CLICO has been at the centre of a financial firestorm over the past 15 months, following the near collapse of its parent company in Trinidad and Tobago, CL Financial.CLICO, believed to have over $1 billion in assets, has already paid out over $118 million to policyholders.•[email protected]
Sir Harcourt honoured again
The financial and public sectors have already bestowed accolades on Sir Harcourt Lewis, but more praise was given when the Bethel Methodist Church held a thanksgiving service in his honour on Saturday evening.Sir Harcourt, who was knighted in the Queen’s New Year’s Honours list, was heralded for sterling development to the country and the credit union movement, and also for his work in the church, of which he has been a member since the 1940s.Sir Harcourt was highly commended for the work he did in the Barbados Public Workers and Cooperative Credit Union alongside Keith Bourne, both guiding lights during the formative years of the union and contributing to the wider movement with distinction over the years.Managing director and chief executive officer of the Insurance Corporation of Barbados Limited (ICBL), Wismar Greaves, said Sir Harcourt’s knighthood had come as no surprise – only one that had occurred in the fullness of time.“We thank you for the significant work you have put in at the ICBL” he told Sir Harcourt, who had started that institution back in 1978.ICBL’s first managing director David Deane, Minister of State (Ministry of Finance) Senator Darcy Boyce, Keith Bourne and Reverend Keith Rae were among those who paid tributes to the stalwart.Reverend Solomon Odoom in his homily said Sir Harcourt made way for those who did not think it possible to succeed at certain levels.“But you can only do those things through God who strengthens you; and it is God that has strengthened Sir Harcourt . . . ,” he told the congregation. (CT)
Aussie women take crown
THE THRILLING finish that was missing from the men’s ICC World Twenty20 final was provided for the women’s version last night.In a match that went down to the wire, Australia prevailed in a tense conclusion, beating New Zealand by three runs under the lights at Kensington Oval.If this was expected to be something of an anti-climax, it was far from and it came down to the very last ball to decide the outcome.The match might have lacked consistent big-hitting, but there was plenty of excitement during the last two overs that made it a contest to remember.New Zealand, chasing 107 to win, hardly appeared to be in the match for most of their response, but after a big penultimate over in which Sophie Devine lashed a four down the ground and a six over cow corner off successive balls, the match suddenly came to life with 14 runs needed from the final over.A single came off the first ball against fast bowler Clea Smith and Devine was good enough to manage four successive twos, the last of which she was denied a four from a magnificent diving save on the point boundary by Shelly Nitschke.Had Nitschke not stopped the ball, New Zealand would have needed three off the final delivery to win and two to send the match into a Super Over decider.Instead, five were needed off the last ball and a firm straight drive that might have had the potential for a boundary was partially stopped by the bowler’s foot on her follow through.As Devine ran through for a single, she dropped to the ground in disappointment and Australia celebrated the title that had eluded their men’s team earlier in the day when they were soundly beaten by England.While Australia avoided the double disappointment on the day, New Zealand endured a second successive defeat in the women’s final after losing to England at last year’s event.It was Australia’s sixth women’s global title and this victory came against the background of having won only half of their previous 20 matches in this format ahead of the tournament.They had to dig deep after New Zealand kept them down to 106 for eight. It appeared a modest total, but those who follow women’s cricket closely will tell you that around 120 is the par score in this version of the game.The vast majority of those who watched the men’s final remained on for the women’s event and would have been impressed with the manner in which Australia defended their total.New Zealand, dubbed in women’s cricket circles as the White Ferns, are known for their aggressive hitting but Australia hardly allowed it.New Zealand paid the price for the enterprising intentions in the early stages and Australia also sustained the pressure with the key wicket of semi-final hero Sara McGlashan who was run out by a direct throw in the fifth over.Devine, who batted at No. 4 and finished unbeaten on 38 off 35 balls, had to consolidate for most of the innings after New Zealand were reduced to 36 for five.Devine and Nicola Browne, who made 20, added 41 for the sixth wicket but there was a feeling that the big hitting was left for too late.Most of their problems were caused by 19-year-old medium-pacer Ellyse Perry who took three for 18 and won the Player Of the Match award.
YOUTH CALL
ARCHBISHOP Dr John Holder says it is important that young people make the most of the multimillion-dollar investment in their education.The Bishop of Barbados made this call at the Diocesan Synod of the Anglican Church at the St Michael Cathedral yesterday.“It is understandable why there will be the type of discussion we are hearing, if it is perceived that some of our youth are not making the best use of the golden opportunities for their development that are available to them.“When the largest item in our budget, well over $500 million, goes towards the development of our youth, from education in schools to a wide range of other education activities, there is need for vigilance to ensure that there is a sense of responsibility from those who benefit.”The Archbishop of the West Indies said it was natural there would be some concern.“There is a need to ensure that the taxpayers’ money is put to good use and those who benefit from it understand the responsibility that comes with the opportunities it provides.“Whenever there seems to be wastage, whenever there seems to be a lack of understanding of how much we are spending on education by those on whom the money is being spent, there will be the concern,” he added.“We must, however, ask ourselves two questions: is the trend that we are detecting among some of our youth simply a case of young, inquisitive, restless minds following ways that may not be too useful for their wholesome development?“Or secondly, is it one that is the direct result of adults taking their hands too quickly off the rudder and not offering the firm guidance and the support that are critical for helping our youth in their development into responsible adults, thus allowing others to entice them into negative behaviour?”Turning his congregation’s attention to the global economic recession, the archbishop said there were lessons of character for Barbadians to learn from.“They can teach us about our limitations and our strengths. They should remind us of our vulnerability but also about our resilience in crisis.“These are qualities that we need to have at work in our country at this time. They are the type that we readily associate with the Barbadian personality,” he said.Holder said that countries, like companies, were being driven to bankruptcy.“There is Iceland and Greece, and the list may get longer. What just a few years ago seemed impossible is now harsh reality. But the challenge before us is not simply one about creating jobs and balancing budgets. “It is also about grappling with a sense of vulnerability, the type of which we probably have not experienced for a long time, if ever. For even if we are able to reconstruct a far better world economic system, the taste of our vulnerability will linger long in our mouths.” (MK)
‘Confusion rife’
Far too many statutory corporations in Barbados can’t get the job done because of the Cabinet reshuffles and frequent changes of board chairmen since 2008, says Opposition Leader Mia Mottley. Mottley argued that before state enterprises could settle down under one minister or chairman, the Thompson administration changed them. The upshot, Mottley contended, was that the corporations and their professionals were unable to function effectively,“As if that wasn’t bad enough,” she added, “it was taking the Government too long to make up its mind about filling key posts in the public service. “It is happening in Foreign Affairs, the judiciary and in other entities,” she told the Daily Nation in New York where she met with Bajans and other Caribbean immigrants in the city. “And when they do make decisions, there is an unusual number of changes for a Government that is only two-and-a-half years old.“You had three chairmen at the BIDC [Barbados Investment & Development Corporation] in two and a half years,” she charged. “You had three chairmen at the SSA [Sanitation Service Authority] in two-and-a-half years. “You had at least two chairmen at the NCC [National Conservation Commission]. You had changes in personnel. You had a Barbados Tourism Authority board where half of the people were sent home more than a year ago, pending a restructuring; and nothing has happened with the restructuring. “There is a sense that you get that the Government has not yet settled down . . . [and got] into the governance of the country.” Mottley said the frequent changes were disruptive of the corporations’ work because the professionals and the staff were unable to establish effective working relationships with the ministers or the chairmen.“The staffs have to get to know them, how they work. There is the human element that we are not counting for,” she said. “The only people who are suffering are the wider population and the country.”Mottley held a town hall meeting in Brooklyn over the weekend at St Gabriel’s Episcopal Church on Hawthorne Street. She also met with the BLP’s New York branch.“It has been a very productive visit,” she said.Mottley, who arrived last Thursday is due to return home today. She was accompanied by Opposition parliamentarian Cynthia Forde, the general secretary of the BLP and former Minister of State in the Ministry of Education during the Owen Arthur administration.
T20 triumph
THE MOTHER COUNTRY chose Little England yesterday to finally make history on world cricket’s stage.England, the county which invented the sport and hosted the first three World Cups, are proud holders of a global title for the first time.In front of hundreds of their countrymen who travelled 4 000 miles from London to Bridgetown, they conquered seemingly invincible Australia with a perfect game to capture the ICC World Twenty20, courtesy a seven-wicket triumph in a final at Kensington Oval in which they closed out the opponents from the beginning.In the process, they denied Australia the unprecedented honour of simultaneously holding the ICC’s three major trophies.Never before in 18 international tournaments over 35 years has an England captain lifted silverware, but Paul Collingwood enjoyed the huge satisfaction of doing so moments after he was swarmed by teammates after hitting the winning run.“This is a very special moment. The guys deserve everything they’ve got today. We’ve won a World Cup. You cannot take that away from us,” Collingwood told reporters.“We fully deserve the victory because of the way we played throughout the tournament. We’ve been consistent. We’ve taken the game to the opposition. The guys fought well for themselves.”Australia, fresh from a tournament high 197 in a sensational penultimate ball victory against Pakistan in the semi-finals, were restricted to 147 for six due to a combination of high-class fielding and probing bowling.After a sound start, they made light work of the target, accomplishing their mission in 17 overs with a match-winning partnership between the dynamic South Africa born batsmen Kevin Pietersen and Craig Kieswetter in which they unleashed a series of remarkable strokes once they asserted themselves.Their only worry appeared to be when the sightscreen at the northern end stuck, leading to a short delay during which time the players went off the field.Man of the Match Kieswetter cracked 63 off 49 balls and Player of the Tournament Pietersen 47 off 31 balls, the pair adding 111 for the second wicket that settled the outcome of the match, but it was England’s effort in the field and with the ball that set uptheir victory.They hardly put a foot wrong after they chose to field first – their accustomed preference in the tournament in which they won three of their last four matches when chasing.The first four Australia wickets to fall came from wonderful efforts that left them in tatters at eight for three and later 45 for four.The first piece of brilliance came from an alert Graeme Swann who dived to haul in a catch at first slip after wicket-keeper Kieswetter muffed the initial offering from Shane Watson, one half of Australia’s dangerous opening combination.The other half, David Warner, didn’t get going either, falling to a run out from a direct underarm throw by Michael Lumb.Kieswetter made no mistake second time around to take a high leg-side catch from Brad Haddin that gave Ryan Sidebottom a second wicket, but television replays appeared to show that the ball came from the body and not the bat.In the past, Australia displayed plenty of depth to work their way out of uncomfortable positions. Not so this time. They didn’t completely collapse, but most of the innings was spent rebuilding instead of dominating.David Hussey led a recovery of sorts with 59 off 54 balls and added 37 with captain Michael Clarke who made a run-a-ball 27 before he was prised out by a neat low catch by his opposite number, Collingwood. Cameron White threatened with a quickfire 30 off 19 balls, but it was too little, too late.Australia came into the match with an unbeaten record and six successive victories, needing only to win here to achieve the only piece of silverware missing from their collection.Afterwards, skipper Clarke admitted they were second best on the day.“The boys were very keen and excited. We knew it was going to be a great game. We had to be at our best. We knew England was going to be tough. They are a very good Twenty20 team,” he said.“It didn’t help after losing those three wickets early and it put a lot of pressure on our middle order. We were probably 30 runs short. The way how England batted, we were probably about 50 runs short.”