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Business

 
Nautilus confirms shutdown, plans to relaunch
A local bottled water manufacturer has confirmed that it has shut its doors and is currently in a legal dispute over the packaging of bottled water with its brand on it. Nautilus water is currently ahead of plans to re-launch full operations, potenti...
 
 
Cove: Dive industry on ‘razor sharp edge’
Calling for higher taxation of foreign liveaboard dive boats, the Bahamas Diving Association states that there is “no way” Bahamian dive operations can compete with foreign liveaboard operations at present and as a result opportunities for local ...
 
 
Court questions ‘drastic increase’ in Family Guardian’s claim on borrower
The Court of Appeal has stayed a writ of possession obtained by Family Guardian Insurance on a property owned by a borrower in default after finding that a “drastic increase” in the amount it told the court its client owed was “curious”. A...
 
 
SME consultant: SMEDA agency ‘is a must’
A local business consultant has hit back at suggestions from the managing director of The Bahamas Development Bank (BDB) that the government should consider allowing it to lead the way as a key small business advisory agency, rather than requiring th...
 
 
The hard thing about hard things
I would suggest that, at some point in our careers, many of us dream about running our own business, especially when we read about the latest success story in The Nassau Guardian or feel unfulfilled in our current job. However, most of us are jolted ...
 
 
Airline performs first international night flight from Bimini to U.S.
Tropic Ocean Airways, a Fort Lauderdale and Miami-based seaplane airline owned and operated by a U.S. Navy Top Gun fighter jet pilot, performed a first on April 3 with its departure from Bimini - the first international night flight in the island’s...
 
 
GBPA supports CARIFTA team
Executives of the Grand Bahama Port Authority, Limited (GBPA) helped a number of local athletes have the opportunity to make their mark at the 43rd annual CARIFTA Games. GBPA’s Senior Vice President Henry St. George and Chief Financial Officer Dea...
 
 
Bloomberg invests $5M in solar-powered lamp
NEW YORK (AP) — Former New York Mayor Michael Bloomberg's foundation on Tuesday announced a $5 million investment in an artsy-looking solar-powered lamp designed for use in off-grid populations in Africa. The lamp, called Little Sun, provides clea...
 
 
Insurance company to launch cyber liability product
Pointing to a “real risk” of a cyber crime strike on local Bahamian businesses, NUA Insurance Agents & Brokers has launched a new cyber liability product. The company is taking the view that “if it could happen to Target, it could happ...
 
 
Professor to address conference on ‘Wisdom of Psychopaths’
A noted Oxford University professor and author of two bestselling books will open the 15th annual STEP Caribbean Conference with a keynote presentation from his latest best selling book, “The Wisdom of Psychopaths”. Kevin Dutton was born in Lond...
 
 
Earth Day
You might have caught the story last week of the 18-year-old from Oregon who mistook the city water reservoir for a urinal and, well, relieved himself in it. I apologize if you are drinking water just now. Long story short, the water was tested and ...
 
 
BDB opposes SME agency plans
Calling proposed legislation on SME promotion a “threat” to the institution, The Bahamas Development Bank (BDB) has urged the government to put aside plans to do away with the bank when it implements a new bill to promote small and medium-sized...
 
 
Chamber questions timing of WTO study
Two of the country’s top trade officials have denied suggestions that The Bahamas “should have known” by now which sectors are going to be vulnerable under accession to the World Trade Organization, as the government revealed that the authors o...
 
 
Bahamas has FATCA ‘agreement in effect’
The Bahamas will now be treated as having "an agreement in effect" under the Foreign Account Tax Compliance Act (FATCA) by the United States' Treasury Department, after negotiations were concluded with the U.S. Treasury and Cabinet approved the deal....
 
 
Bahamasair saves over $500,000 through ‘competitive’ insurance bids
Bahamasair has been able to save hundreds of thousands of dollars simply by putting its contract for insurance coverage for employees, vehicles and buildings out to competitive bid, part of a cost-cutting drive which saw the airline reduce its operat...
 
 
CIBC FirstCaribbean launches ‘Talk to me Tuesdays’ initiative
CIBC FirstCaribbean has embarked upon a new initiative – “Talk to Me Tuesdays!” – which will see its branch managers, sales staff and customer service representatives engaging with customers who visit its banking halls in a highly interacti...
 
 
Scotiabank supports womens’ education initiative
Scotiabankers collectively donated $1,000 to the Providing Access to Continued Education (PACE) program as part of local International Women’s Day celebrations. Scotiabank (Bahamas) Ltd.’s Advancement of Women (AoW) Committee spearheaded the cha...
 
 
Baha Mar installs artificial reef
A commitment to implementing “innovative business practices” with respect for the environment is behind a decision by Baha Mar to construct an artificial reef in the waters beyond the mega-resort, according to the company’s chief operation offi...
 
 
The path to junk bond status
The government recently borrowed $300 million in the form of a U.S. dollar bond issue. Minister of State for Finance Michael Halkitis, announced that the bond issue was oversubscribed and that institutional investors were willing to lend the governm...
 
 
One&Only Ocean Club sale process ‘95% complete’
The sales process for the One&Only Ocean Club on Paradise Island is now “95 percent complete”, with a U.S. company, headed by a Ukrainian-born billionaire, as the intended purchaser, according to well-placed sources. An announcement “one w...
 
 
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