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Business

 
IMF: Baha Mar to spur growth into 2018 and 2019
Senior economist in the Western Hemisphere Department of the International Monetary Fund (IMF) Jarkko Turunen said yesterday that the paced opening of Baha Mar will likely spur economic growth for The Bahamas into 2018 and 2019. He predicts a moderat...
 
 
Bahamas to enter talks with CAPRI on Sustainable Development Goals
Prime Minister Perry Christie is expected to meet soon with Dr. Damien King, co-executive director of the Caribbean Policy Research Institute (CAPRI), in a bid to induct The Bahamas into the Sustainable Development Goals (SDG) Dashboard, which classi...
 
 
Govt crackdown on tax collection to reap $400 million over two years
In two years, the government is seeking to collect $400 million in revenue by tightening its tax collection system, according to Financial Secretary in the Ministry of Finance Simon Wilson. During the State of the Economy Report 2017 conference at A...
 
 
Financial secretary suggests economy’s projected growth rate is inaccurate
Financial Secretary in the Ministry of Finance Simon Wilson said he thinks the growth rate projected for the Bahamian economy is inaccurate and suggested that it should be higher than where it currently stands. Wilson’s comments came in response t...
 
 
FINCO net profit down more than 50 percent
Net profit for the Finance Corporation of Bahamas Limited (FINCO) decreased by more than 50 percent for the year ending October 31, 2016. Chairman of FINCO Robert Johnson revealed the information in his review of the company’s unaudited results fo...
 
 
IDB study reveals data on social conditions in The Bahamas
Bahamian women play a key role in the labor force of this country, the highest of 22 Latin American and Caribbean countries studied, according to data in a recent Inter-American Development Bank Group’s (IDB Group) publication. Yesterday, the Univ...
 
 
Breezes Resort & Spa Bahamas wins Expedia award
On January 30, Breezes Resort & Spa Bahamas received Expedia’s coveted “Top Bahamas Partner of the Year” award in recognition of the hotel’s outstanding performance and partnership throughout 2016. The Expedia event took place at the Nass...
 
 
408 enrolled to date in revamped mortgage relief program
The Christie administration’s revamped mortgage relief program has enrolled 408 out of 1,744 eligible borrowers as of January 2017, as the country’s mortgage delinquencies sit above $600 million. Minister of State for Finance Michael Halkitis re...
 
 
Halkitis: Homeowners bill is not a ‘panacea to the mortgage crisis’
Minister of State for Finance Michael Halkitis yesterday tabled the amended Homeowners Protection Bill, 2017 in an effort to foster homeowner protection, but admitted that the bill is not a one-stop solution to the Bahamian mortgage crisis. During h...
 
 
NCTUB general secretary hits back at chamber chief over ‘attack on labor’
General Secretary of the National Congress of Trade Unions Bahamas (NCTUB) Zane Lightbourne yesterday accused Edison Sumner, chief executive officer of the Bahamas Chamber of Commerce and Employers Confederation (BCCEC), of launching an “attack on ...
 
 
Non-profit setting sail for a successful year
Bahamas Revisited is staring down a fully booked schedule of trips for 2017, as the non-profit’s founder, Steven Cartwright, puts the winds in his sail for another successful year of philanthropy. The company, which was launched two years ago, has...
 
 
Scotiabank recognized for ‘Best Commercial Banking Capabilities in The Bahamas’ by Euromoney
Scotiabank has been recognized for the “Best Commercial Banking Capabilities in The Bahamas” by Euromoney, a leading global financial publication, in its recently released annual Global Private Banking survey. This recognition is one of three cat...
 
 
BHTA meeting gathers key industry professionals and public sector partners
The Bahamas Hotel and Tourism Association (BHTA) held its first board of directors and members meeting at the British Colonial Hilton on February 9, 2017. Director General of Tourism Joy Jibrilu, Deputy Director General of Tourism Tommy Thompson, ex...
 
 
Fidelity Bank donates to Ranfurly Homes for Children
Fidelity Bank (Bahamas) Limited donated $20,000 to The Ranfurly Homes for Children to assist in the institution’s operational expenses. The home has served thousands of orphaned, abused, neglected and abandoned children since it opened in 1956. Pr...
 
 
Moss rejects draft Home Owners Protection Bill
Leader of the United Democratic Party (UDP) Greg Moss yesterday criticized a draft version of the new Home Owners Protection Bill 2017, arguing that it would benefit lenders more than borrowers and claimed that the only material change being effected...
 
 
BOB focused on resolving loan debt
Bank of The Bahamas (BOB) Acting Managing Director Renee Davis acknowledged that the bank’s return to profitability is largely dependent on the performance of its loan portfolio, meaning a great part of the bank’s focus will have to be on resolvi...
 
 
Pointe parking garage open to transient traffic
The Pointe’s seven-story parking garage opened to the general public on Monday, with many users on the day finding the structure convenient for appointments at the United States Embassy, the development’s director of communications, Kendeno Knowl...
 
 
Energy audit helps hotel recognize 62% energy cost reduction
Two of 37 hotel properties audited in the Caribbean Hotel Energy Efficiency and Renewable Energy Action (CHENACT) study are already reaping the benefits in terms of cost savings, with one hotel seeing savings of 62.03 percent after implementing energ...
 
 
CTO Council of Ministers discusses best practices, sustainable tourism efforts
Obie Wilchcombe, chairman of the Caribbean Tourism Organization (CTO), chaired his first meeting of the Council of Tourism Ministers and Commissioners since being elected chairman last September. The meeting led to positive discussions on best practi...
 
 
Sandals Foundation gives ‘birthday bags’ to Gambier Primary School
What better way to celebrate your birthday while at school than to receive gifts? The children at Gambier Primary School are in for a treat during the course of the school year. Team members of Sandals Royal Bahamian and the Sandals Foundation, the ...
 
 
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