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Business

 
Govt officials to assess Baha Mar buyer’s operations
Government could be one step closer to confirming Chow Tai Fook Enterprises (CTFE) as the buyer for the Baha Mar megaresort, as four government officials close to the matter are expected to arrive in Hong Kong today to assess the company’s operatio...
 
 
Union boss laments firings at Grand Bahama Shipyard
More than 20 people have been let go from the Grand Bahama Shipyard between July and November of this year, according to President of the Grand Bahama Port Authority Workers Union Mervin Wright. Wright claimed yesterday that personnel have been fire...
 
 
Source: March 2017 timeline for Baha Mar rooms doable for contractors
The March 2017 timeline proposed by Chow Tai Fook Enterprises (CTFE) for the opening of rooms at the Baha Mar development is a plausible endeavor for construction crews, according to sources close to contractors at the restarted construction site. G...
 
 
Carnival on the cards with or without govt support, says Tirelli
Carnival, in particular the Road Fever Parade, will go ahead as planned, even if government does not invest in Carnival 2017, President of the Bahamas Carnival Band Owners Association (BCBOA) Dario Tirelli told Guardian Business yesterday. Tirelli w...
 
 
New boutique hotel opens on Exuma
On a remote cay off Great Exuma sits a small luxury boutique hotel waiting to be explored. Lumina Point, which officially opened at the end of November, features 12 rooms, a gym, spa, pool, restaurant and a pavilion for weddings and yoga overlooking...
 
 
Maria Wells-Rolle joins Coldwell Banker Lightbourn sales team in Abaco
Maria Wells-Rolle has joined the Coldwell Banker Lightbourn sales team in Abaco. Based in Guana Cay, Wells-Rolle has a strong background in the real estate field, having worked in housing management with a pool of over 100 homes. “Maria comes to ...
 
 
Baha Mar buyer seeking to open 700 rooms by March 2017
Chow Tai Fook Enterprises (CTFE), the prospective purchaser of Baha Mar, is pushing forward a schedule to open 700 hotel rooms at the beleaguered resort by March 2017, a well-placed source revealed yesterday to Guardian Business. According to the so...
 
 
Davis: New generation capacity for BPL being negotiated
Government is awaiting the outcome of negotiations by the Ministry of Finance over the purchase of new generation capacity for Bahamas Power and Light (BPL), Deputy Prime Minister Philip Brave Davis said yesterday. Speaking to members of the press ...
 
 
Design plans for Potter’s Cay Dock stalls being revised
The original plans for the upgrade of vendor stalls at Potter’s Cay Dock may have been too “elaborate” and had to be taken back to architects to ensure more “affordable” design and construction, Deputy Prime Minister Brave Davis told Guardi...
 
 
Rolle stresses Matthew’s impact following Moody’s deficit projection
On the heels of Moody’s widening its projection for The Bahamas’ deficit to almost $300 million, Minister of State for Investments Khaalis Rolle lamented the adverse economic impact of Hurricane Matthew. The international credit ratings giant re...
 
 
Komolafe: Fiscal challenges leave little buffer from external shocks
Chief Risk & Compliance Officer at Colina Emmanuel Komolafe said fiscal challenges in The Bahamas have placed the country in a position to have “little to no space or buffer” to be insulated from external shocks and natural disasters like Hur...
 
 
Pharmacy owners express concerns as NHI looms
President of the Bahamas Pharmaceutical Association (BPA) Michelle Finlayson is lauding the intention of the National Health Insurance (NHI) Secretariat to meet with stakeholders next week, to discuss compensation and primary care benefits packages r...
 
 
Tax receipts up; deficit also increases
Tax receipts for the first three months of the 2016/2017 fiscal year stood at $398.6 million, according to The Central Bank of The Bahamas. Meanwhile, the deficit during the period increased to $86 million, relative to the comparable period last year...
 
 
BPL explains high November electricity bills
Bahamas Power and Light (BPL) released a statement late yesterday afternoon explaining that customers may have experienced higher-than-normal bills for November because October’s billing period was comprised of estimates based on historical data....
 
 
URCA to receive BPL report on electricity bills next week
Bahamas Power and Light (BPL) owes the public answers regarding high electricity bills post Hurricane Matthew, and that report is due to the Utilities Regulation and Competition Authority (URCA) imminently, according to the regulator’s acting CEO S...
 
 
Stellar Energy CEO laments impact of high energy costs on businesses
High energy bills are taking a toll on the cost of doing business in The Bahamas, according to CEO of Stellar Energy J.P. Michielsen. When fixed costs for businesses are higher, they have less money to spend on other areas of business, such as train...
 
 
Attorneys published in International Franchising 2016
Higgs & Johnson has announced the publication of the first edition of “International Franchising 2016: Legal and Business Considerations”, a comprehensive reference guide for lawyers, business people and academics to use in navigating the leg...
 
 
Aliv boasts ‘thousands’ of subscribers as it eyes GB launch
Aliv is boasting “thousands” of subscribers after a flurry of interest in its first four days as the country’s newest mobile provider, according to Damian Blackburn, CEO of NewCo, which operates the Aliv brand. The company is eyeing its next bi...
 
 
Source: Contractors back to work at Baha Mar
Contractors are back to work at the Baha Mar development, according to a source close to the issue. The movement back to the stalled site is being done in an “organized and controlled” manner, said the source. There has been much speculation ove...
 
 
Smith: 70 percent of Baha Mar’s Bahamian claims settled by end of November
Baha Mar Claims Committee Chairman James Smith said roughly 70 percent of the legitimate Bahamian claims will be settled by the end of November. In addition, Smith told Guardian Business yesterday that payments to those creditors owed more than $500...
 
 
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