City Markets sheds jobs
By Scott Armstrong ~ Guardian Business Editor ~ scott@nasguard.com
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Bahamas needs to stay with the US dollar
By Inderia Saunders ~ Guardian Business Reporter ~ inderia@nasguard.com:
An international economist is suggesting it would be best for The Bahamas to establish a currency board with the objective of keeping this nation's currency pegged to the U.S. dollar.
Grand opening for Turnberry
By Scott Armstrong ~ Guardian Business Editor ~ scott@nasguard.com
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Is water the next carbon?
By STAFF WRITER ~ Guardian Business Desk:
A new Association of Chartered Certified Accountants (ACCA) report is calling on businesses to not only account for their carbon emissions, but their water usage too — discussing the effects water scarcity could have on businesses, from a financial and operational perspective
Bahamas's golf tourism below par
By Inderia Saunders ~ Guardian Business Reporter ~ inderia@nasguard.com:
A new KPMG survey is revealing The Bahamas has lost ground to competing destinations in the Caribbean as they aggressively move to better appeal to the pocketbooks of a growing number of travel golfers.
Bahamas airline moves to close Jamaica gap
Western Air, the largest privately-owned airline in The Bahamas, will begin direct flights to two cities in Jamaica in April 2010.
The airline has been granted schedule and charter licenses by the Ministry of Tourism and Aviation to operate daily flights to Kingston and Montego Bay from Nassau. Western Air has also been approved by the Jamaican Civil Aviation Authority for these routes.
Galleria Cinemas to Introduce 3-D
By Inderia Saunders ~ Guardian Business Reporter ~ Inderia@nasguard.com:
Galleria Cinemas Ltd. is becoming a part of the latest three-dimensional (3-D) craze sweeping the rest of the world, with the completion of 3-D upgrades to its theaters in New Providence and Grand Bahama.
Love, peace and Univer-soul to create 100 part-time jobs
By Inderia Saunders ~ Guardian Business Reporter ~ Inderia@nasguard.com:
Nearly 100 part-time jobs are expected to be created in Nassau and Grand Bahama during a two-week tour by the popular Universoul Circus in May, organizers of the tour announced yesterday.
Top record execs head to town
By Inderia Saunders ~ Guardian Business Reporter Inderia@nasguard.com:
A $15,000 investment bringing top record label executives from Universal, Virgin and Warner is set to be showcased this month, with the event expected to revive the local music industry.
Direct debits and credits pass major test
By Scott Armstrong ~ Guardian Business Editor ~ scott@nasguard.com
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Colina with 70% RND stake as offer closes
By Scott Armstrong ~ Guardian Business Editor ~ scott@nasguard.com
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December air arrivals dip in The Bahamas
By Inderia Saunders ~ Guardian Business Reporter ~ inderia@nasguard.com:
Visitor air arrivals throughout The Bahamas declined by 10 percent during the normally busy month of December, even as total visitors to the country improved by 5 percent.
20,000 notes invested in music school
By Inderia Saunders ~ Guardian Business Reporter ~ Inderia@nasguard.com:
A local musician has invested nearly $20,000 to open one of this country's first top level music schools, billing it as key in preparing for any competition stemming from new international trade pacts.
Bahamas film competition winner unveiled
By Inderia Saunders ~ Guardian Business Reporter ~ inderia@nasguard.com:
A $21,000 prize has been shelled out to the winner of the somewhat controversial I4 Island Film challenge — courtesy of a Ministry of Tourism that has come under fire for not affording Bahamian filmmakers that opportunity.
Retirement Secrets That No One Is Telling You About Retirement
By Glenn S.Ferguson:
I am understanding now what is meant by the expression "time sneaks up on you like a bug on a windscreen". You see I am used to seeing the gray in others and while you know it will happen, you never expect it to happen to you.
Galanis hits back at 'sham audit' claims
By Inderria Saunders ~ Guardian Business Reporter ~ inderia@nasguard.com:
Accounting firm HLB Galanis Bain is firing back at an offshore report hinting that it contributed to misinformation on a client, arguing that several key factors proving the adherence of due diligence were overlooked.
Bank sale sparks UBS Bahamas $32 million writedown
By Scott Armstrong ~ Guardian Business Editor ~ scott@nasguard.com
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In the pursuit of excellence
By Scott Armstrong ~ Guardian Business Editor ~ scott@nasguard.com
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Bank of the Bahamas eyes recovery
By Inderia Saunders ~ Guardian Business Reporter ~ inderia@nasguard.com:
Bank of The Bahamas (BOB) is expressing confidence in a 2010 turnaround, with its managing director boasting a 25 percent capital ratio — well above Central Bank requirements.
Grand Bahama Power Company's pledge to its customers
A pledge to customers has been issued by the Grand Bahama Power Company as the port authority moves out of the Harbour West Shopping Center in Eight Mile Rock.
A statement to its customers said that for now the power company was not vacating premises and would continue to operate, however a move in the future was likely.
Resort ranks #1 and racks up sales
By Inderia Saunders ~ Guardian Business Reporter ~ inderia@nasguard.com:
A retirement research team has ranked Exuma's February Point Resort Estates as the best retirement community in The Bahamas — something hotel executives are not that surprised over given the recent 100 percent jump in sales activity.
100% improvement in anti-corruption of awarding contracts
By Inderia Saunders ~ Guardian Business Reporter ~ inderia@nasguard.com:
The government has improved 100 percent in limiting kickback abuses in the granting of contracts for millions of dollars of work on infrastructure projects, said the local contractors association head.
Contractors Bill takes a step forward
By Inderia Saunders ~ Guardian Business Reporter ~ inderia@nasguard.com:
A new Contractors Bill just may make it to Parliament before summer, with the draft finally passed on to the Attorney General's Office after months of ironing out issues, said president of the Bahamian Contractors Association.
Bahamians can make up visitor falloff by 20%
By Inderia Saunders ~ Guardian Business Reporter ~ inderia@nasguard.com:
The Out Islands Promotion Board is readying to up its marketing ante to Bahamians in an attempt to get locals to make up hotel occupancy in the off season by 20 percent.
British Airways strike is on
By Scott Armstrong ~ Guardian Business Editor scott@nasguard.com
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Restaurant resists recession
By Inderia SAunders ~ Guardian Business Reporter ~ inderia@nasguard.com
CFAL weekly Market RECAP
This week the local securities market experienced a large increase in trading volume and value as 99,430 shares crossed the exchange over 37 trades to accumulate a value of $664,489.83. The BISX All-Share Index continued its downward trend however, falling 0.19 points or 0.012 percent to settle at 1,569.11. On the positive side, year to date, the Index is up 3.73 points or 0.238 percent. Seven of the nineteen publicly traded stocks experienced activity this week resulting in two price shifts.
Consolidated Water Company BDRs (CWCB) was the sole advancer, climbing $0.23 or 8.61 percent to settle at $2.90 while Commonwealth Bank Ltd. (CBL) declined, falling $0.01 or 0.15 percent to close at $6.75.
Freeport Concrete in 'negative equity' with $1.6M loss
By Scott Armstrong ~ Guardian Business Editor ~ scott@nasguard.com
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The Bahamas has gained global credibility says Spain
By Scott Armstrong ~ Guardian Business Editor ~ scott@nasguard.com
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Key vote coming for new accounting standards
By Scott Armstrong ~ Guardian Business Editor ~ scott@nasguard.com
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Court hears how $15M of Bahamian company shares stolen
By Scott Armstrong ~ Guardian Business Editor ~ scott@nasguard.com
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BPC raises $4 million working capital for Bahamas venture
By Inderia Saunders ~ Guardian Business Reporter ~ inderia@nasguard.com:
A recent share placement by oil license holder BPC is being described as "well received" and a display of confidence that its delayed Bahamas oil venture would indeed go forward.
Securities Commission helps in case of $26 million fraud
By Inderia Saunders ~ Guardian Business Reporter ~ inderia@nasguard.com:
A Philadelphia court has found a Canadian stock promoter who manipulated $26 million from two Bahamas-based stock brokers guilty of securities fraud, Guardian Business has learned.
BTC privatization: your views
Our Debate of the Day got you talking as we asked: "Should a privatized BTC be given two years with no rivals, or should it face immediate competition."
Quickly readers responded on
BTC privatization plan comes under fire
By Inderia Saunders ~ Guardian Business Reporter ~ inderia@nasguard.com:
An international report on the telecommunications industry in the Caribbean is backing up earlier views of local analysts, calling "disappointing" a government's decision to offer a two-year exclusivity agreement before the sector is liberalized.
Bahamasair to partner with domestic airlines
By Inderia Saunders ~ Guardian Business Reporter ~ inderia@nasguard.com:
Bahamasair and several domestic carriers are in the midst of discussions on creating an interline agreement with the intention of cutting costs at all the airlines and expanding routes for all signed up, Guardian Business has learned.
Time for income tax?
By Scott Armstrong ~ Guardian Business Editor ~ scott@nasguard.com
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British Airways strike action looms closer
By Scott Armstrong ~ Guardian Business Editor ~ scott@nasguard.com
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Triple win for real company star
If real estate was an Olympic sport, Carlyle Campbell would be wearing triple gold.
The broker just made a clean sweep, taking top honors in all three categories of awards at Bahamas Realty – top-selling agent, most improved agent and most exclusive listing agent.
Three senior bank executives to leave First Caribbean
By Scott Armstrong ~ Guardian Business Editor ~ scott@nasguard.com
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Central Bank reviews January performance
By Inderia Saunders ~ Guardian Business Reporter ~ inderia@nasguard.com
A curb in consumer demand has translated into a 12 percent slash in tax collections for the first half of the fiscal year — something the Central Bank attributes to the result of a decline in international trade.
Bahamas First has rating review while Sagicor deal goes through
By Inderia Saunders ~ Guardian Business Reporter ~ inderia@nasguard.com:
The president of Bahamas First General Insurance Company Limited (BFG) has called "customary" a move by international insurance rating agency A.M. Best placing the company's credit rating under review with negative implications.
UNESCO considering a Nassau City of Design designation through art tour
By Inderia Saunders ~ Guardian Business Reporter ~ inderia@nasguard.com:
An application has been sent to UNESCO requesting for Nassau to be designated an official City of Design, Guardian Business has learned, with an upcoming art bus tour expected to serve as one of the main attractions under consideration.
Crunch time for British Airways walkout
By Scott Armstrong ~ Guardian Business Editor ~ scott@nasguard.com:
A decision on whether British Airways' cabin crew will stage a strike is likely to be announced today, after a deadline yesterday was extended for last-ditch talks.
'Full steam ahead' for $10 million Straw Market
By Scott Armstrong ~ Guardian Business Editor ~ scott@nasguard.com
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Women, it's time to take control of your money!
BY Glenn Ferguson:
March 8th was International Women's Day, celebrated under the theme "Equal Rights, Equal Opportunities: Progress for All". And to mark the event the Bureau of Women's Affairs of the Ministry of Labour and Social Development held a half-day workshop that focused on women and girls' issues, and I was amongst the few men that were fortunate enough to be thorns amongst so many beautiful roses.
Vopak's 1.2 million barrel deal with India
By Scott Armstrong ~ Guardian Business Editor ~ scott@nasguard.com
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OECD should take Bahamas off Grey List 'fairly swiftly'
By Scott Armstrong ~ Guardian Business Editor ~ scott@nasguard.com
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Sandals CEO talks on 2009 challenges
By Inderia Saunders ~ Guardian Business Reporter ~ Inderia@nasguard.com:
Sandals executives are projecting a strong year, with occupancy at its two locations — as well as in the rest of the Caribbean — running at a 90 percent rate currently.
Combined strengths
By Scott Armstrong ~ Guardian Business Editor ~ scott@nasguard.com
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