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Business

 
GBPA: 20-year extension proposal ‘compelling’
The Grand Bahama Port Authority (GBPA) considers ‘compelling’ the Hawksbill Creek Agreement Review Committee’s (HCARC) proposal to extend critical tax concessions another 20 years in exchange for certain changes to the governance structur...
 
 
$6M to prepare for IDB meetings
Set in one of the complete boardrooms at the multi-room Baha Mar Convention Center, Minister of State for Finance Michael Halkitis yesterday disclosed that the government has spent about $6 million over the last three years preparing to host the annu...
 
 
DPM touts highlights of PowerSecure plan
Deputy Prime Minister and Minister of Works Philip Brave Davis this week foreshadowed the installation of solar energy systems as part of the national electricity grid, primarily in the Family Islands, as he highlighted elements of the draft business...
 
 
BIA chairman: Oncoming ‘headwinds’ with NHI
Questions remain as to the role of private health insurers within the National Health Insurance (NHI) scheme, Bahamas Insurance Association (BIA) Chairman Emmanuel Komolafe told Rotarians yesterday. In fact, Komolafe stressed to the Rotary C...
 
 
Inflation rises to 1.64%, ‘employment conditions deteriorate’
In the Monthly Economic and Financial Developments (MEFD) report for December 2015, The Central Bank of The Bahamas said “employment conditions deteriorated in the six months to November 2015”, even though the number was an improvement from the...
 
 
HCA concessions extended three months
After Prime Minister Perry Christie laid out the history of the extension of the tax concessions granted under the Hawksbill Creek Agreement — concessions he was at pains to point out were not intended to last longer than 30 years — he announced ...
 
 
Finance loosens business license deadlines
The Ministry of Finance has announced that the deadline for certification of accounts has been extended to March 31, 2016, the payment deadline. This is a move that ought to relieve enormous amounts of pressure from small and medium-sized enterprises...
 
 
PM tells doctors KPMG will consult on NHI
The Consultants Physicians Staff Association (CPSA) and the Medical Association of The Bahamas (MAB) met on Tuesday night with Prime Minister Perry Christie, who revealed that he has asked international firm KPMG to provide yet another layer of o...
 
 
DPM: PowerSecure contract worth $13M
Deputy Prime Minister Philip Brave Davis yesterday explained that of the $3 million performance bonus PowerSecure International could earn for the $10 million, five-year management service agreement (MSA) to manage Bahamas Power & Light (BPL), ...
 
 
AG: Research shows Bahamians don’t want oil referendum
Attorney General and Minister of Legal Affairs Senator Allyson Maynard-Gibson, QC yesterday told senators that the government’s “research shows that Bahamians do not want a referendum on whether to explore for oil”, doubling down on the adminis...
 
 
Why dreams die, part 2
By this time of the year, everyone who expressed excitement at the start of 2016 should have completed their written visions and objectives for the year, right?! Unfortunately, studies show that more than half of the population who desire success wil...
 
 
Development plan diagnosis soon released
National Development Plan (NDP) Program Coordinator Samantha Rolle said she and her colleagues are close to “concluding the diagnosis”, and said yesterday that investment in The Bahamas’ creative economy, Family Island development, better h...
 
 
Insurance Commission superintendent elected to int’l body
Superintendent of The Insurance Commission of The Bahamas Michele Fields has been elected to serve on the executive committee of the International Association of Insurance Supervisors (IAIS). The IAIS is a voluntary membership organization of insura...
 
 
Sunryse awards long-standing clients
Last week, Sunryse Shredding Services paused to celebrate with its long-standing clients at an awards ceremony held at Melia Nassau Beach resort. During the event, the document destruction and records management company also unveiled plans for new fa...
 
 
Security forces spokesgroup boosts pressure on govt over insurance
The Police Staff Association (PSA), claiming that the health insurance of its members is being threatened, has ratcheted up the pressure on the government to accept a PSA proposal for an insurance package featuring enhanced befits, reduced premiums...
 
 
Eco focus for Swiss resort developer
Swiss entrepreneur and businesswoman Dona Bertarelli has signed a heads of agreement for a $200 million project in Exuma which she said will anchor “the next stage in a long-term strategy to develop an international collection of ultra luxury hotel...
 
 
RBC to ‘consolidate’ credit card services to Trinidad
Royal Bank of Canada (RBC) yesterday confirmed the closure of the bank’s credit card center in Nassau, saying in a press statement that “a thorough review of our credit card operations in The Bahamas” led to the decision to “consolidate” ...
 
 
Mall renovation continues, $2M to date
Mall at Marathon officials yesterday announced that the next phase of a multi-year, multimillion-dollar expansion and enhancement will be “taken to the next level” with the remodelling and renovation of the mall’s main entrance and the “imm...
 
 
2015 a record year for Caribbean hotels
STR Inc., a hotel and travel analytics powerhouse, has reported record-breaking results in two of the three key performance metrics for the Caribbean hotel industry in 2015. The STR report noted that for the year, the average daily rate (ADR) in...
 
 
Insurers lash health minister
The Bahamas Insurance Association (BIA) has struck out at Health Minister Dr. Perry Gomez, charging that Gomez’s assertions about the “breast cancer gene” and how local insurance companies respond to breast cancer are “completely false”. ...
 
 
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