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Business

 
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...
 
 
Bahamas Development Bank: Close to 500 businesses owe $41M
Just one-third of the Bahamas Development Bank’s (BDB) loan portfolio is currently performing, with potentially around 500 businesses owing a total of $30 million in principal and $11 million in interest to the institution, according to its Managin...
 
 
Sharkeez franchise holders scope out Hard Rock Cafe
The owners of the Sharkeez Bar and Grill franchise in downtown Nassau are doing due diligence with a view to potentially reopen the Hard Rock Cafe restaurant and store, which closed at the beginning of the month, causing the loss of nearly 40 jobs. ...
 
 
Coalition hits back over government’s position payroll tax
The Coalition for Responsible Taxation has hit out at comments from top government officials that payroll tax is not a viable alternative proposal to value-added tax (VAT), suggesting that the government has misconstrued its position on the tax, and ...
 
 
BFSB, Insurance Commission promote Bahamas’ captive advantages
Financial services industry representatives will hit the road later this month, heading to Denver, Colorado, to promote The Bahamas as a place to conduct captive insurance business. Officials from the Bahamas Financial Services Board (BFSB) and the ...
 
 
The importance of quality marketing material
Take a look at your brochures, catalogs, flyers, business cards, print ads, posters, product packaging, or anything that has your company name, information or logo. Now answer these questions: Is your company brand image portrayed appropriately and ...
 
 
Boost for Palm Cay as Nassau-Exuma pit stop
With the busy boating season swinging into high gear, the distance between Nassau and Exuma is now shorter in the minds of mariners, accounting in part for the almost instant success of the marina at Palm Cay, the first marina directly en route to wh...
 
 
First edition of Devour! The Beach heralded a success
Abaco's first wine and food festival won “overwhelming support” from locals and visitors alike, according to organizers. A spin-off of a popular Nova Scotia-based festival, the Devour! The Beach food and wine festival took place at the Green Tur...
 
 
100 jobs projected from Switcha’s $8 million expansion
Aided by an equity placement led by KPMG, Switcha, the Bahamian drinks company, will invest $8 million this year and hire an additional 100 people when it acquires a farm in Andros and establishes a new 22,000-square-foot facility to accommodate its ...
 
 
Bahamas Waste: Year of ‘highs and lows’ ends in profit fall
Following a year of “highs and lows”, BISX-listed Bahamas Waste has revealed that it suffered a slight decline in net income in 2013, with the figure down 9.69 percent over 2012. Net income attributable to ordinary shareholders fell by 35 percent...
 
 
Tourism executive: Prices hamper potential to capitalize on satisfaction levels
Faced with grim signals regarding the concerns of potential visitors to The Bahamas about the cost of vacationing here, the Bahamas Hotel and Tourism Association (BHTA) has argued that The Bahamas is both “uniquely positioned” to capitalize on ri...
 
 
Bahamas Petroleum Company successfully renews licenses
The government has confirmed that Bahamas Petroleum Company (BPC) has successfully completed a renewal process for its five active exploration and production licenses. Permanent Secretary in the Ministry of the Environment and Housing Camille Jo...
 
 
GBPA networks at cruise conference
Grand Bahama Port Authority Limited (GBPA) executives networked their way through the annual Cruise Shipping Miami (CSM) conference and exhibition, recently, promoting the advantages of Grand Bahama as a “premier” cruise destination. The C...
 
 
Local law students attend Miami arbitration conference
Two young legal professionals were flown to Miami to participate in a high-level international arbitration conference after winning a competition which called for them to draft an arbitration clause. Marike Paulsson, director of the University of Mi...
 
 
Baha Mar to offer 375 chance to enter free casino training program
As part of its drive to fill more than 4,000 positions at the resort, which will become home to the largest casino in the Caribbean, Baha Mar is set to offer a free training program for 375 people to gain the skills needed to work in the casino. T...
 
 
Canada demands controversial investor rights clause
Disagreement over whether a controversial investor-state dispute settlement (ISDS) mechanism will be included in a new trade deal between Canada and The Bahamas has emerged as a point of contention between the two countries in the protracted negoti...
 
 
Local businesses suffer ‘ridiculous’ lime price inflation
Customers and suppliers alike have been left with a sour taste in their mouths after a perfect storm of natural and criminal elements has caused local availability of limes to drop, and their prices to rise to unprecedented levels. Super Value Food ...
 
 
Two more companies seek oil licenses
The government is considering applications from two oil companies that are seeking exploration and production licenses to search for oil in waters north of Grand Bahama. Bahamas Petroleum and Atlantic Petroleum have applied to the government for e...
 
 
What you need to know about VOCs
Just smell it, that’s how you know its new – whether it’s a car, shoes, bag or a freshly painted room. The chemical compounds that give us this sense of comfort are part of a group of products called volatile organic compounds, or VOCs for shor...
 
 
Seventy-seven percent of Bahamians don’t have pension plans
Seventy-seven percent of Bahamians don’t have money tucked away for retirement. It’s a “frightening” statistic and one that financial experts at Colonial Pension Services (Bahamas) are hoping will not only lead to the enactment of pension le...
 
 
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