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Business

 
British Colonial Hilton hotel sold
The China State Construction Engineering Corporation (CSCEC) has purchased the British Colonial Hilton after 20 months of negotiations, Guardian Business can reveal. The sale price was undisclosed, but well-placed sources say the closing of the tran...
 
 
Lowe: Unclear if defective airbags in The Bahamas
As fears rise in other jurisdictions, spurred by a massive recall of defective airbags across 11 international car manufacturers, one Bahamian car dealer says he and his colleagues are awaiting word on where the affected cars were sold. The defectiv...
 
 
Rolle: Dismissing solar energy is ‘short-sighted’
President of the Exuma Chamber of Commerce (ECC) Pedro Rolle said yesterday it is “shortsighted” for the country to dismiss solar energy due to its high cost of implementation, stating that it is a necessary investment to increase the economic co...
 
 
COB professor: Fix flawed FOIA
Lisa Benjamin, associate professor of The College of The Bahamas’ (COB) Bachelor of Laws program, yesterday urged the government to make the stalled Freedom of Information Act (FOIA) a top priority for the economic and environmental benefit of the ...
 
 
Group warns: VAT-inclusive pricing could kill businesses
The “massive administrative costs” associated with the thousands of man hours needed to effect the transition to a value-added tax (VAT) regime which includes “VAT-inclusive” pricing could likely mean hundreds of business do not survive the...
 
 
Cat Island partnership a model PPP, minister says
The development of a new airport on Cat Island is in its final stages and may break ground in a matter of months. According to Minister of State for Investments Khaalis Rolle, the way the project has been developed and will be financed is a model the...
 
 
Bahamas courts world’s pharmaceutical firms
The Bahamas was “well-received” at the 2014 World Investment Forum (WIF), and is “well-positioned” as a jurisdiction to attract foreign direct investment, particularly in pharmaceuticals, according to Minister of State for Investments Kha...
 
 
Lucianos, Rotary join forces on World Polio Day
Local gourmet Italian eatery Luciano’s of Chicago has joined the efforts of the Rotary Club of East Nassau, along with Rotary clubs world-wide, in its World’s Greatest Meal to Help End Polio campaign. In support of polio eradication Luciano’s o...
 
 
Wendy’s opens $2 mil. store
Local Wendy’s franchise owners and operators, Chris and Terry Tsavoussis, marked a major milestone this weekend with the soft opening of Wendy’s new $2 million flagship restaurant on Pioneer’s Way and Mackenzie Street, in Grand Bahama. The sta...
 
 
$200 mil. BEC power plant ‘on the table’
The Christie administration remains cagey about the restructuring of the Bahamas Electricity Corporation (BEC), but Minister of State for Investments Khaalis Rolle has admitted the possibility the government could borrow approximately $200 million to...
 
 
Ryan Pinder: Let foreign lawyers in
In a move he acknowledged was likely to ruffle feathers, Minister of Financial Services Ryan Pinder said yesterday it is time to allow select foreign law firms to operate within The Bahamas’ financial services industry. Speaking at the 2014 Nassau...
 
 
$185 mil. airport redevelopment ‘an absolute necessity’
Minister of Transport and Aviation Glenys Hanna-Martin said the price tag for redeveloping airports throughout The Bahamas – previously pegged at about $100 million by Minister of State for Investments Khaalis Rolle – is estimated to be almost $1...
 
 
New fee regime for banks, trust companies
Ahead of the passage of legislation that would place cooperative credit unions under the authority of The Central Bank of The Bahamas (CBB), the bank’s examiners are already conducting examining exercises within the sector, according to a letter ...
 
 
Sumner: BCCEC’s work continues ‘uninterrupted’
Chief Executive Officer of the Bahamas Chamber of Commerce and Employers Confederation (BCCEC) Edison Sumner says that while Rob Myers “brought invaluable new energy and focus to the chamber,” the work of the chamber continues uninterrupted by My...
 
 
Region focuses on cybersecurity
Six hundred million people were victims of a cybercrime in 2013, and research shows that more than half a million websites are under attack daily around the world. Latin America and the Caribbean has 250 million Internet users who spend almost nine h...
 
 
Swelling compliance costs problematic for Caribbean IFCs
The chair of the Society of Trust and Estate Practitioners (STEP) Worldwide said yesterday the swelling cost of full compliance with international financial transparency initiatives could “lock out” small international finance corporations (IFCs)...
 
 
U.S. Embassy presents RBPF with state-of-the-art digital fingerprint technology
Continuing cooperation under the Caribbean Basin Security Initiative (CBSI), the United States government and 12 CARICOM nations, including The Bahamas, recently partnered to implement the CBSI Digital Fingerprint Program to assist in regional crime ...
 
 
Govt, BHTA host VAT seminar for GB tourism sector
Tourism-related businesses throughout Grand Bahama gathered at the Bahamas Hotel and Tourism Association’s (BHTA) value-added tax (VAT) workshop in Freeport, Grand Bahama on Monday, October 20, 2014. The workshop in Grand Bahama was one of a number...
 
 
Five stem cell procedures in first week of operation
The Okyanos Heart Institute, a stem cell therapy institute in Grand Bahama, performed five procedures in its first week of operation, Guardian Business has learned. Matthew Feshbach, CEO of the Grand Bahama-based facility, told Guardian Business yes...
 
 
New chamber chair vows to continue ‘transparency’ mantra
New Bahamas Chamber of Commerce and Employers Confederation (BCCEC) Chairman Gowon Bowe threw his support behind his predecessor, and – having seen the paper trail from customs concerning the Porsche sport utility vehicle which led to Robert Myers...
 
 
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