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Business

 
Govt making progress on austerity plan
Government is at the stage in its austerity plan where it has come up with recommendations on how to find at least 10 percent savings in each government ministry, Deputy Prime Minister and Minister of Finance Peter Turnquest told Guardian Business ye...
 
 
BCA looking to govt for public projects resurgence
With the construction sector facing a slowdown by the end of the year, according to President of the Bahamian Contractors’ Association (BCA) Leonard Sands, the sector is looking to government to tell it when it should expect to see a resurgence in ...
 
 
Turnquest pleased with progress in govt’s first 100 days
The first 100 days in office have slipped past the new Free National Movement (FNM) government, and Deputy Prime Minister and Minister of Finance Peter Turnquest told Guardian Business that he is very pleased with his administration’s progress thus...
 
 
CTO calls for dialogue on U.S.-Caribbean legislation
The Caribbean Tourism Organization (CTO), of which The Bahamas is a part, has called on those responsible for implementing the United States-Caribbean Strategic Engagement Act, known as H.R. 4939, to come to the table and meet with Caribbean tourism ...
 
 
Carnival bands gearing up for 2018 despite silence from govt
President of the Bahamas Carnival Band Owners Association (BCBOA) Dario Terrelli told Guardian Business yesterday that carnival bands are gearing up for 2018, despite government being closed-lipped on the festival, which has caused much controversy s...
 
 
Five-year strategic plan unveiled at Consumer Protection Commission board meeting
The Consumer Protection Commission (CPC) and its newly appointed board held its first meeting last Friday, where Minister of Labor Senator Dion Foulkes – who has responsibility for consumer affairs – laid out his five-year strategic plan, accordi...
 
 
Alliance formed to support Deloitte’s cyber risk practice
Deloitte in The Bahamas and the wider Caribbean is getting its cybersecurity beefed up by Unified Technologies, a pan-regional information technology solutions provider with operations in the Caribbean and North America, a press release has revealed....
 
 
CCA still silent on if it will meet October 15 Baha Mar deadline
With only two and a half months left before the SLS at Baha Mar is scheduled to open, it is still not yet known whether China Construction America will meet its October 15 deadline to have construction completed. The contractor of record for the meg...
 
 
Bad loans blamed for BOB’s fourth quarter net loss
Bank of The Bahamas (BOB) continues to struggle with bad loans despite what it considers to have been "significant strides made" in its transformation process, as the bank saw an increase in net loan loss provisions of $20.1 million compared to the s...
 
 
BIA exec questions legality of NHI in its current form
Another Bahamas Insurance Association (BIA) executive has pegged National Health Insurance (NHI) as operating illegally in its current form, despite the universal health insurance scheme already having 25,000 people enrolled. Deputy Chairperson of t...
 
 
J.S. Johnson reports income decline; still reeling from Matthew
J.S. Johnson Insurance company is still reeling from the effects of Hurricane Matthew on its bottom line, the company said in recently released second quarter results, reporting an income decline of 17 percent. According to the company, income decli...
 
 
Employee recruitment drive has started at Baha Mar’s SLS
Baha Mar has already begun recruitment for the SLS property, which is expected to open on November 7, Baha Mar Senior Vice President of Government and External Affairs Robert "Sandy" Sands told Guardian Business yesterday. One of the tower's restaura...
 
 
NCTUB: Austerity measures that could affect workers being monitored
The National Congress of Trade Unions of The Bahamas (NCTUB) warned the government in a press statement this week that it was taking note of any measures that could affect workers and carefully scrutinizing them. At the top of the NCTUB's list is th...
 
 
Aliv continues rollout with upcoming opening of Bimini flagship store
Aliv has arrived in Bimini and will be carrying out the opening of its flagship Bimini store this Friday, the company said in a press release yesterday. The company has revealed that, to date, it has more than 70,000 subscribers. Chief Aliv Officer ...
 
 
D’Aguilar wants better deal for shore excursion companies
Minister of Tourism Dionisio D'Aguilar vowed to explore how he and his ministry can get cruise ships to offer shore excursion companies more take-home revenue. Last week, speaking to a room full of tourism industry professionals, D'Aguilar said typi...
 
 
Central Bank notes improvement in banks’ profitability, credit quality
The Central Bank of The Bahamas' (CBOB) Financial Stability Report for December 2016 revealed that banks' credit quality improved in 2016, due in part to the financial institutions offloading bad loans and to the previous government's "modest" Mortga...
 
 
Slight revenue decline for Consolidated Water
Consolidated Water (CW), the company responsible for much of The Bahamas' water supply through desalination plants, reported total revenues for the second quarter of 2017 at $15.3 million, which was slightly below the $15.4 million it reported in the...
 
 
Expedia: Bahamas likely to attract high Labour Day travel traffic
Travel booking website Expedia has pegged The Bahamas as one of those destinations most likely to attract high Labour Day travel traffic thanks to attractive package deals to the destination. According to Expedia, Labour Day is one of the busiest U....
 
 
Three firms to receive capital injection from $1 million fund
Three companies are slated to receive capital from a new investment fund called The Investment Group (TIG). The three companies signed memoranda of understanding (MoU) with TIG last week at a launch ceremony for the fund at the British Colonial Hilt...
 
 
Central Bank notes positive stress test results for financial services sector
The Central Bank of The Bahamas (CBOB) Financial Stability Report for December 2016 heralds a positive outlook for a large part of the financial services sector, given positive stress test results. In October 2016, CBOB facilitated the private secto...
 
 
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