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Business

 
Bowe: Stores found in violation of Price Control Act
Price Control Commission Chairman E.J. Bowe found that several stores across New Providence and on the Family Islands were in violation of the Price Control Act 1971. Over the past few weeks, Bowe, along with other price inspectors, visited North An...
 
 
900-plus show up at Sandals job fair
Days after Sandals Royal Bahamian Resort announced that over 600 employees would be made redundant, more than 900 people came out to a four-day job fair aimed at filling the 600 job posts. The resort is expected to reopen with the same number of Bah...
 
 
Wilchcombe warns on Zika’s impact on regional tourism
Minister of Tourism Obie Wilchcombe said the increasing number of warnings on the Zika virus coming from the Caribbean region could create a negative perception of Caribbean countries, if the number of persons infected with the virus continues to ris...
 
 
Komolafe: Ability of govt to reverse FDI decline pivotal
Chief Risk and Compliance Officer at Colina Holdings Bahamas Limited Emmanuel Komolafe said the impact of the remobilization and opening of Baha Mar on construction, employment and overall economic activity will be pivotal with regard to the expectat...
 
 
Sumner: Moody’s should consider Baha Mar progress in next review
CEO of the Bahamas Chamber of Commerce and Employers’ Confederation (BCCEC) Edison Sumner said it “only makes sense” for Moody’s to take into consideration the recent announcement of remobilization at the Baha Mar Resort in its next assessmen...
 
 
Halkitis: Baha Mar will open in time for next Moody’s review
Minister of State for Finance Michael Halkitis said the government “anticipates” that Baha Mar would be opened next year and in time for Moody’s visit to The Bahamas for its next assessment in August. Halkitis told Guardian Business yesterday ...
 
 
ORG urges caution on Chinese ownership of local assets
The Organization for Responsible Governance (ORG) warned that the government must be cautiously aware of the number of Bahamian assets that the Chinese government, their various agencies and offshore companies, own. The ORG said that The Bahamas sho...
 
 
Courtyard Nassau’s performance has ‘exceeded our expectations’
Caribbean area Vice President of Marriott International Andrew Houghton said Marriott International’s first Courtyard hotel in New Providence expects to do well in the moderately priced segment of the hotel sector due to the popularity of the desti...
 
 
Komolafe: Downgrade to junk status would have been major blow
Chief Risk and Compliance Officer at Colina Holdings Bahamas Limited Emmanuel Komolafe said the recent downgrade of The Bahamas’ sovereign rating from Baa2 to Baa3 by Moody’s is unfortunate but not unexpected by many within the private sector. K...
 
 
Goombay Summer Festival leaves no vendor unhappy
With the second week of Goombay Summer Festival (GSF) now a memory, officials at the Ministry of Tourism are making sure that the economic benefits are felt throughout the festival period. Director of Events Charity Armbrister believes that events s...
 
 
Commonwealth Bank officially opens new training center
Calling service “the number one reason we are the leading bank in The Bahamas”, Commonwealth Bank officially opened the doors to its new $800,000 corporate learning center recently. Located adjacent to its Prince Charles branch, the 8,740-square...
 
 
Sands: Strong construction sector growth on the cards
President of the Bahamian Contractors’ Association (BCA) Leonard Sands said he expects that the construction sector will experience the strongest fourth quarter of the calendar year that it has had in the past 10 years, based on the ongoing and upc...
 
 
Provisional approval granted for Med Cell to conduct stem cell research, therapy
Despite arguments surrounding the ethics of stem cell research based on admittedly scarce research, a provisional approval status has been granted for Med Cell Bahamas Ltd. to conduct stem cell research and therapy with the view of building a laborat...
 
 
Smith critical of Moody’s analysis of economy
Former governor of The Central Bank of The Bahamas (CBOB) James Smith said a further downgrade by Moody’s to junk status would have been unwarranted. He agreed that Moody’s assessment was fair, but criticized some aspects of the agency’s ration...
 
 
D’Aguilar: Veil of secrecy by govt on Baha Mar deal
Former Baha Mar Director Dionisio D’Aguilar said the government is operating with a “veil of secrecy” as it relates to the recent agreement made on Baha Mar. On Monday, Prime Minister Perry Christie announced that an agreement made between the...
 
 
Climate change challenges remain as govt ratifies Paris Agreement
While challenges remain in regards to climate change for The Bahamas, the government has officially ratified the world’s first globally binding climate change agreement known as the Paris Agreement under the United Nations Framework Convention on C...
 
 
NewCo delivers major progress update on Grand Bahama
FREEPORT – NewCo 2015 Limited (NewCo), recipient of the nation's second license for the provision of cellular and data services, announced on Wednesday that 20 of its 22 planned cell sites have been fully constructed on Grand Bahama and are current...
 
 
Strachan: Downgrade linked to Baha Mar
Minister of Financial Services Hope Strachan said that Moody’s decision to downgrade The Bahamas’ sovereign credit rating was heavily influenced by the government’s inability to resolve the Baha Mar affair in a timely matter. On Monday, the in...
 
 
Turnquest: More questions than answers in Baha Mar deal
Shortly after Moody’s downgraded The Bahamas’ sovereign credit rating from Baa2 to Baa3, Prime Minister Perry Christie announced “vague” details of an agreement made between the government and the Export-Import Bank of China (CEXIM) that will...
 
 
Tourism ministry working to reassure visitors on Zika
Amid the additional Zika cases confirmed this week, Minister of Tourism Obie Wilchcombe said the ministry is working diligently to ensure that visitors know their health and safety is secured in The Bahamas. The Ministry of Tourism will also spend m...
 
 
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