Multi-million dollar Cat Island project making progress
By Inderia Saunders ~ Guardian Business Reporter ~ Inderia@nasguard.com:
Developers of a $200 million development on Cat Island are steadily working towards a soft opening in April 2012, with construction on a golf course to start by this summer, Guardian Business can confirm.
Real tweet for business community
Twitter fans can now access the latest news from Guardian Business by following our new daily feed.
We'll bring you the latest news from The Bahamas straight to your cell, Blackberry, iPhone, PDA - all you have to do is come find us at www.twitter.com and search for guardianbiz.
Remittances to The Bahamas grow 25 percent
By Inderia Saunders ~ Guardian Business Reporter ~ Inderia@nasguard.com:
Remittances to The Bahamas have increased around 25 percent in the last year, a top money transfer company has confirmed — an indicator of increasing need for financial help in a nation that usually does the sending.
Grand Bahama Business Outlook
Grand Bahama business leaders, ranging from government officials to healthcare providers, will move to outline problems and solutions for the island's economy in the upcoming Business Outlook.
"We are sensitive to the fact that Grand Bahama's economy has remained static or in decline for a number of years and Grand Bahamians despite their resilience need to know what happens next and what action they should take now," said Joan Albury, head of The Counsellors Limited (TCL) and organizer of the Outlook. "This awareness and sensitivity has informed the sectors we have chosen to focus on this year and experts selected to present."
$200 million investment announced by Celebrity Cruises
By Scott Armstrong ~ Guardian Business Editor ~ scott@nasguard.com:
A luxury cruise line company serving The Bahamas is marking its 20th anniversary by investing millions in its fleet.
The game of life & money – are your children playing to win? Pt.2
By Keshelle Kerr:
Welcome to the 2nd issue in the series 'Playing by the Rules and Winning the Game'. My goal is to share with you six out of the twenty four Creative Wealth principles that are taught in my programs that can be used to teach your children while they are young and of course, teach yourself as well. The first principle is to "Pay Yourself First". If you have missed that column, feel free to contact me. Creative Wealth principles are simply the rules to the Money Game. If you want your children to win the game of life and money, they have to know, and play by, the rules. Its your job, to ensure that they are given those rules.
Tourism chief defends film project
By Inderia Saunders ~ Guardian Business Reporter ~ inderia@nasguard.com:
Protests over a $300,000 project which is flying 14 UK filmmakers in to showcase The Bahamas have been described as "highly regrettable" by the director general for Tourism.
Grand Bahama celebrates 4,000 extra tourists a week
By Scott Armstrong ~ The Nassau Guardian ~ scott@nasguard.com:
Nassau's loss will prove to be Grand Bahama's gain as bosses at Celebration Cruise Line predict they'll soon be bringing up to 4,000 passengers a week to the island.
Bahamas oil exploration hits headlines
By Inderia Saunders ~ Guardian Business Reporter ~ inderia@nasguard.com:
Government may be readying to approve several oil exploration licenses, Guardian Business has learned, kicking off the first oil search recorded in The Bahamas in decades.
Customs officers ready to start shift system
By Inderia Saunders ~ Guardian Business Reporter ~ inderia@nasguard.com:
A long-awaited Customs shift schedule looks set to go in operation next week, with union officials confirming that move to Guardian Business.
Commonwealth Bank has $42 million in net earnings
By Inderia Saunders ~ Guardian Business Reporter ~ inderia@nasguard.com:
Commonwealth Bank is reporting net income earnings of $42 million for the year ending December 31, 2009, with a record breaking total in assets coming in close to $1.4 billion.
Four million checks to be handled by ACH in 2010
By Scott Armstrong ~ Guardian Business Editor scott@nasguard.com:
Just two weeks since its launch The Bahamas' new electronic banking system is expected to speed up the clearing process for up to four million checks in 2010.
Central Bank eyeing liquidity legislation
By Inderia Saunders ~ Guardian Business Reporter ~ inderia@nasguard.com
The Central Bank is mulling over implementing legislation that would give it more control over liquidity, a senior officer at the bank has revealed, with the move seen as one to encourage greater inter-bank cooperation.
Questions raised over Subdivision Bill
By Inderia Saunders ~ Guardian Business Reporter ~ inderia@nasguard.com:
Local realtors may receive support on the pending Planning and Subdivision Bill from an unlikely group: Accountants, with an outline of its details raising many eyebrows during a briefing session.
Third home for furniture store taking shape
By Scott Armstrong ~ Guardian Business Editor ~ scott@nasguard.com:
In case you haven't heard the latest gossip or the sounds of hammering and sawing, there's some construction going on over in Marsh Harbour.
Bahamas 'must keep up with the world'
By Inderia Saunders ~ Guardian Business Reporter ~ inderia@nasguard.com:
The Bahamas needs to keep up with global expectations as regional competitors in the financial world become more proactive on securing business, a partner at the Deloitte and Touche has warned.
Air Jamaica drops The Bahamas
By Scott Armstrong ~ Guardian Business Editor ~ scott@nasguard.com:
Air Jamaica has announced it is to discontinue its services to The Bahamas as the company culls routes across the Caribbean.
Minister commits to Contractors Bill
By Scott Armstrong ~ Guardian Business Editor ~ scott@nasguard.com:
Commitment to making a crucial piece of legislation happen - which could kick-start a $1 billion home building industry - has been given by the Minister of Public Works.
Bahamas' corporate world continues to support Haiti
By Inderia Saunders ~ Guardian Business Reporter inderia@nasguard.com:
Donations for Haiti are mounting — and fast: Two major corporate sponsors now coming out of the block pledging tens of thousands to that country's relief fund.
New MD comes to Citco
By Scott Armstrong ~ Guardian Business Editor ~ scott@nasguard.com:
There is a new man at the top of one of The Bahamas' best known financial services companies, as Citco Fund Services (Bahamas) Limited announces Dirk Simmons has secured the managing director's chair.
Bahamian law firm part of exclusive conference
By Scott Armstrong ~ Guardian Business Editor ~ scott@nasguard.com:
An international legal conference is coming to The Bahamas this week, and one young law firm will be sitting around the "invitation only" table.
Bahamas Ferries invest in new Abaco landing facility
By Scott Armstrong ~ Guardian Business Editor ~ scott@nasguard.com:
A new $250,000 landing facility for Bahamas Ferries is taking shape in Sandy Point, South Abaco, as the company continues to expand and improve its service to the island.
Still interest in Bahamas Film Studios
By Inderia Saunders ~ Guardian Business Reporter ~ inderia@nasguard.com:
A prospective buyer of the Bahamas Film Studios has said interest could be regenerated under clearer conditions, following moves by government to contact the studio's head confirming interest in a now "substantially" slashed lease agreement.
Baha Mar to appeal New York ruling
By Scott Armstrong ~ Guardian Business Editor ~ scott@nasguard.com:
The long-running legal row over the collapsed $2.6 billion joint venture between Baha Mar and Harrah's Entertainment is not over despite a New York judge ruling against the Bahamian company.
BTC working hard on Haiti communication
By Inderia Saunders ~ Guardian Business Reporter ~ inderia@nasguard.com:
The Bahamas Telecommunications Company (BTC) is presently working to restore full connectivity to and from Haiti on its $6 million submarine fiber optic cable, with that country's technical center badly damaged in the earthquake.
Junkanoo craft museum's lively launch
By Inderia Saunders ~ Guardian Business Reporter ~ inderia@nasguard.com:
A local junkanooer yesterday launched one of the country's first craft museums centered around attracting visitors and locals alike — kicking off its first tour by hosting scores of primary school students.
Retirement - It is only a matter of time before you retire, so get ready!
By Glenn S. Ferguson:
"Time sneaks up on you like a windshield on a bug." Jon Lithgow
Tax treaties firmly in focus
By Scott Armstrong ~ Guardian Business Editor ~ scott@nasguard.com:
"Feverish" activity is expected in the next two weeks as the government works to sign the last two international tax agreements required to avoid being black-listed.
Dominos to serve up 8th location
By Inderia Saunders ~ Guardian Business Reporter ~ Inderia@nasguard.com:
AML has confirmed its intention to go ahead with its eighth Dominos Pizza location in the western area of New Providence this year — gearing up to launch online ordering and follow international moves to revamp its ingredients.
Grand Bahamas Chamber head rolls out plans
By Inderia Saunders ~ Guardian Business Reporter ~ inderia@nasguard.com
A "visionary exercise" is about to be launched by the newly-elected Grand Bahama Chamber of Commerce president, who is rolling out concrete plans for 2010, set to examine opportunities and grow the island's business pool.
Doctors hails internationally qualified security staff
By Scott Armstrong ~ Guardian Business Editor scott@nasguard.com:
Doctors Hospital is celebrating three of its security officers earning international qualifications as the healthcare provider strengthens its commitment to patient safety.
Commonwealth Brewery tours still possible
By Inderia Saunders ~ Guardian Business Reporter ~ Inderia@nasguard.com:
Executives at Commonwealth Brewery have confirmed that plans for tours of its brewery are still on the table, although a decision has yet to be made on when that will kick off.
Dividend payout to come at Cable Bahamas
By Scott Armstrong ~ Guardian Business Editor ~ scott@nasguard.com:
Shareholders in the now 100 percent Bahamian-owned Cable Bahamas will get a dividend this year, its president has told The Nassau Guardian.
Public to get taste of brewery deal
By Scott Armstrong ~ Guardian Business Editor ~ scott@nasguard.com:
The public could be offered up to a 25 percent stake in Burns House Ltd. and the Commonwealth Brewery if a deal by Heineken to buy out the Association of Bahamian Distillers and Brewers (ABDAB) gets the thumbs up.
Small business BISX listing call
By Inderia Saunders ~ Guardian Business Reporter ~ inderia@nasguard.com:
The former state minister for finance is suggesting a small business BISX listing is even more important now, as banks move to slash overdrafts to that already-struggling group.
Haiti relief extended
Bank of The Bahamas has announced plans to extend its Haiti relief efforts - leaving both its telethon donation account and relief supply drop box open for at least one more week.
According to the bank, the local outpouring of support for victims of the January 12 earthquake that devastated Port-au-Prince and surrounding areas, has prompted the move by BOB and its partners, City Market stores and Kelly's at the Mall at Marathon, to extend the time it will leave large drop-off boxes in place for relief supplies.
CFAL Market weekly recap
The local securities market had a large increase in trading volume this week as a whopping 6,048,597 shares and 380 bonds crossed the exchange over 56 trades to accumulate a value of $80,916,810.39. The BISX All Share Index notably increased 35.48 points or 2.267 percent to close at 1,600.62. As a result of trading activity, there were three price advances and three price declines. The star performer this week was Cable Bahamas Ltd. (CAB) which jumped $3.43 or 34.30 percent to close at a 52-week high of $13.43. Consolidated Water Company BDRs (CWCB) followed as the stock price climbed $0.11 or 4.26 percent to close at $2.69. FirstCaribbean International Bank (CIB) rounds off the advancers adding $0.01 or 0.10 percent to settle at $10.00. AML Foods Limited (AML) was the biggest laggard to performance this week as the stock fell $0.02 or 1.75 percent to $1.12. Commonwealth Bank Limited (CBL) followed, losing $0.01 or 0.14 percent to end at $6.99 while Finance Corporation of the Bahamas (FIN) slipped $0.01 or 0.11 percent to $9.27.
Cable Bahamas (CAB) traded the highest volume and value this week as 5,959,441 shares exchanged hands over 8 trades for a value of $80,019,508.69.
Tech issues delay Govt's move to BISX
By Inderia Saunders ~ Guardian Business Reporter inderia@nasguard.com:
Technological issues, among other things, may be contributing to a hold-up in the listing and trading of Bahamas Government Registered Stock (BGRS) on the Bahamas International Securities Exchange (BISX), said State Minister for Finance Zhivargo Laing.
New forensic firm in town
By Inderia Saunders ~ Guardian Business Reporter ~ inderia@nasguard.com
A Caribbean accounting firm is extending its arms in The Bahamas, with the new Krys Rahming and Associates Limited planning to secure a fair share of the market from a rise in the demand for fraud specialists.
NIB briefs staff on new drug plan
By Inderia Saunders ~ Guardian Business Reporter ~ inderia@nasguard.com:
The wheels are in motion for the launch of the National Prescription Drug Plan (NPDP), with National Insurance Board (NIB) staff members recently educated on their role in the launch.
Cable Bahamas now 100 percent Bahamian
By Scott Armstrong ~ Guardian Business Editor ~ scott@nasguard.com:
Cable Bahamas has announced that it is now a 100-percent Bahamian owned company.
2010 must be year for small business
By Scott Armstrong ~ Guardian Business Editor ~ scott@nasguard.com:
President Barack Obama's lead in truly supporting small businesses in 2010 should be followed in this nation, the president of The Bahamas Chamber of Commerce told The Nassau Guardian.
Cruise controls spending - profits surge
By Scott Armstrong ~ Guardian Business Editor ~ scott@nasguard.com:
Things are looking good for yet another cruise line serving The Bahamas, as Royal Caribbean Cruises Ltd. revealed that its fourth-quarter profit more than doubled as it reined in expenses while continuing to woo budget-conscious travelers.
Sorry seemed to be the hardest word
By Scott Armstrong ~ Guardian Business Editor ~ scott@nasguard.com:
A feud between two of the biggest names in Caribbean tourism has come to an end after one apologized to the other, it has emerged.
RND Holdings sells majority interest to Colina
Publicly held commercial real estate and automated ticketing company RND Holdings Limited today announced that it has sold majority interest in the company to Colina Insurance Limited, the country's largest life and health insurer.
Colina, which has owned shares in RND since the latter's initial public offering in 1998, now holds in excess of 50% of the equity in RND Holdings Limited, whose principal subsidiary, RND Properties Limited, manages the rental of commercial facilities RND Plaza West, RND Plaza Freeport and RND Plaza Abaco.
Government bonds coming to BISX
By Inderia Saunders ~ Guardian Business Reporter ~ inderia@nasguard.com:
A $300 million US-dollar sovereign bond issue by the Bahamas government may be making its way to the Bahamas International Securities Exchange (BISX), State Minister for Finance Zhivargo Laing told Guardian Business.
Big Business, small collection?
By Inderia Saunders ~ Guardian Business Reporter ~ inderia@nasguard.com:
Critics have cited too much big business and government involvement as reasons why this week's two-night national telethon for Haiti's relief efforts couldn't raise as much as $500,000 — criticisms the event's organizers call "uninformed".
Toast to Commonwealth Brewery
Mugs are being raised for the consistent taste of Commonwealth Brewery's Limited (CBL) Heineken brand, with the company receiving the top score for taste quality among all licensed Heineken breweries in the Americas region for 2009.
It's an award that places the Bahamas' CBL and its 65 employees brewing beer on a daily basis at the top of its industry, beating out nine regional breweries in the process.
Visitor hits out at $10 air tax proposal
By Inderia Saunders ~ Guardian Business Reporter ~ inderia@nasguard.com:
The suggestion of adding $10 onto ticket prices to The Bahamas and to the Caribbean is being protested by a frequent flyer to the islands, who argues the move could cripple this nation's tourism industry further.
Travel industry chiefs cast eye over Sandals
By Scott Armstrong ~ Guardian Business Editor ~ scott@nasguard.com:
Heavy hitters from the US and Canadian travel industries have given the new Sandals resort in Great Exuma top marks, just one week after it officially opened its doors. |
|
