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Business

 
Mitchell: GB at rock bottom, needs cash injection
Progressive Liberal Party (PLP) Senator Fred Mitchell warned yesterday that Grand Bahama has reached “rock bottom” and is in need of an injection of money to keep the island’s economy afloat. Prime Minister Dr. Hubert Minnis revealed last week...
 
 
Sands: Contractors act could help curb foreign work permits by at least 50%
President of the Bahamian Contractors Association (BCA) Leonard Sands said the Construction Contractors Act could help to slash the number of work permits granted to foreign workers for construction projects in The Bahamas by at least 50 percent. Sp...
 
 
Government’s shareholding in Aliv, BTC complicates regulation, says URCA CEO
CEO of the Utilities Regulation and Competition Authority (URCA) Stephen Bereaux lauded the government’s announcement to sell its shares in Bahamas Telecommunications Company (BTC) and Aliv to Bahamians, adding that the government’s stake in both...
 
 
Atlantis to sign deals for local restaurants at Marina Village
Atlantis could have deals signed by the end of the month to have several Bahamian owned and operated restaurants occupy spaces at its iconic Marnia Village pedestrian promenade, Guardian Business understands. Meantime, Harbour Island restaurant Sip...
 
 
Bahamas Waste launches social media competition to recognize garbage technicians
If cleanliness is indeed next to Godliness, then the hardworking garbage technicians at Bahamas Waste are closer to heaven than any of us. Since its inception, Bahamas Waste has made leaps and bounds in addressing key waste management needs for resi...
 
 
Government hosts recreational fisheries workshop
The Ministry of Agriculture & Fisheries recently opened a recreational fisheries workshop at the Bahamas Agricultural and Industrial Corporation’s (BAIC) headquarters, comprising 30 experts from 12 Caribbean countries. It was the sixth meeting ...
 
 
Chamber CEO urges public procurement process cleanup
CEO of the Bahamas Chamber of Commerce and Employers’ Confederation (BCCEC) Edison Sumner said the government’s system for awarding contracts would see a complete turnaround after government cleans up the public procurement process, puts in place...
 
 
Bahamas still a good place to do business, says chamber CEO
The Bahamas is still “a good place to do business”, CEO of the Bahamas Chamber of Commerce and Employers’ Confederation (BCCEC) Edison Sumner told Guardian Business yesterday, after startling revelations about the state of the economy and possi...
 
 
Fields: Atlantis reviewing Baha Mar documents
Senior Vice President of Public Relations at Atlantis Ed Fields told Guardian Business yesterday that Atlantis is in the process of reviewing the recently revealed Baha Mar documents “to see if there are discrepancies”. The resort’s concern is...
 
 
Govt looking to incentivize Bahamian-owned boutique hotels
Prime Minister Dr. Hubert Minnis is hoping to spur the growth of boutique, eco-friendly hotels on the Family Islands through the granting of Crown land and the delivery of incentives for those that use and promote local products. Minnis said those B...
 
 
BTC recognizes stellar employees
Bahamas Telecommunications Company (BTC) recently held its employee awards reception at The Balmoral Club, where over 100 employees were recognized for exemplary services to the company. Helene Ferguson, BTC’s senior vice president of human resour...
 
 
Leno Corporate Services becomes BISX sponsor member
The Bahamas International Securities Exchange (BISX) is pleased to announce that Leno Corporate Services Limited has become a BISX sponsor member. Leno Corporate Services Limited has become the sixth BISX sponsor member, which are listing agents that...
 
 
Stronger BPL financials following $32 million Baha Mar payment
Bahamas Power and Light's (BPL) financials are looking better, thanks to the receipt of a $32 million payment from Baha Mar, Minister of Public Works Desmond Bannister told Parliament on Monday. Bannister, who has oversight of the utility, revealed ...
 
 
Bannister unsure if BPL can handle summer peak demand
Minister of Public Works Desmond Bannister, who has responsibility for Bahamas Power and Light (BPL), does not have faith that the power company will be able to keep the lights on during the summer months. He said on Monday during his contribution t...
 
 
Cost savings of $25 mil. by Water and Sewerage Corp.
The Water and Sewerage Corporation (WSC) has succeeded in generating cost savings of $25 million after preventing the loss of 4.5 million gallons of non-revenue water (NRW) per day by improving infrastructure, Minister of Public Works Desmond Bannist...
 
 
Central Bank: Debt to GDP ratio at 78.1 percent
The Bahamas' national debt, as at the first quarter of 2017, stands at $7 billion, while the country's debt to GDP (gross domestic product) ratio stands at a worrying 78.1 percent. In five years, this country's national debt has grown 3.7 percent, f...
 
 
Bahamas wins new aviation award
The Bahamas was presented the 2016 Caribbean Sapphire Pegasus Business Aviation Award for Outstanding Country Promotion, the first award of its kind for the region. The Sapphire Pegasus Award is a symbol of gratitude for the superb performance in an...
 
 
Fate of Bahamas Junkanoo Carnival 2018 still up in the air
CEO and Managing Commissioner of the Bahamas National Festival Commission (BNFC) Roscoe Dames continues to defend Bahamas Junkanoo Carnival as a cultural staple on The Bahamas’ calendar, but admitted yesterday that he could not say if there will ...
 
 
Chamber still waiting on govt to assist businesses in wake of Hurricane Matthew
Rebuild Bahamas, a joint venture between the Bahamas Chamber of Commerce and Employers’ Confederation (BCCEC) and the Rotary Clubs of The Bahamas, spent almost $800,000 to help get businesses back up and running following the passage of Hurricane J...
 
 
Sumner: Crime continues to be strain on businesses’ fixed, start-up costs
Crime and the fear of crime continues to be a strain on businesses, with the cost of security continuing to eat away at one to three percent of business’ fixed and start-up costs, CEO of the Bahamas Chamber of Commerce and Employers’ Confederatio...
 
 
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