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Business

 
CEO: BTC in ‘do or die’ situation before competition
Bahamas Telecommunications Company (BTC) is facing a “do or die” situation as it heads into competition, finding itself in an uncompetitive state that demands upgrades to its network, staff productivity, reductions in prices and improvements in c...
 
 
IDB: Quantify ‘creative economy’ for growth boost
The Bahamas has been urged by the Inter-American Development Bank (IDB) to take steps to quantify the scope and contribution of its creative industries to the overall economy as a first step to realizing its true potential to impact gross domestic ...
 
 
Woman wins damages from Kerzner International
The Bahamas Court of Appeal has allowed the appeal of a woman seeking damages against Kerzner International Bahamas Ltd. and Island Hotel Company Ltd. (IHC) for a workplace injury. Justice Anita Allen, president of the Court of Appeal, delivered the...
 
 
Developer: ‘One more piece of the puzzle’ sought on $6.3 bil. proposal
The developer behind a $6.3 billion mega-resort proposed for Grand Bahama said Prime Minister Perry Christie has asked him for “one more piece of the puzzle” before any approval is given for the project. Lawrence McDonough of Kylin International...
 
 
Minister: ‘Two-month window’ to complete Canada trade deal
Minister of Financial Services Ryan Pinder has revealed that CARICOM was “about 80 to 90 percent complete” with the negotiations of the revised Caribbean-Canada Trade Agreement (CARIBCAN) three weeks after the original deadline. A new two month-...
 
 
Baha Mar receives 700 applications for casino training
The Baha Mar Gaming Academy received more than 700 applications and has accepted 300 students into its free casino dealer training program. More than 90 participants got underway with their studies on Monday as the academy welcomed its first class, ...
 
 
Official: Baha Mar room phase-in ‘unspoken part’ of airlift ‘balance’
An expectation that Baha Mar’s total 2,200 rooms will come on stream over a period of time is among the factors guiding tourism stakeholders’ approach to ensuring adequate airlift is in place to support the resort, Guardian Business has learned. ...
 
 
Expert to explore feasibility of value-added trade strategy
Minister of Financial Services Ryan Pinder has brought in an international trade specialist to further the government’s hope of introducing a “value-added trade strategy” to The Bahamas, which would encourage the partial manufacturing of produc...
 
 
GB Chamber: Island-wide duty concessions ‘very stimulative’
The Grand Bahama Chamber of Commerce has welcomed news that the government is beginning consultations on extending duty free concessions on Grand Bahama, calling the move potentially “very stimulative” for the local economy. Last week, the Min...
 
 
Bahamian movie in distribution deal ‘first’
A Bahamian filmmaker has secured a deal with a Los Angeles-based distributor to show his film about the late Sir Lynden Oscar Pindling, the first prime minister of The Bahamas, at movie theaters in the U.S., The Bahamas and potentially beyond. In ...
 
 
Debit card fraud on the rise
The Clearing Banks Association (CBA) has warned of an increasing trend of debit card fraud and “ABM skimming”. In a recent statement, the CBA provided advice on reducing the risk of debit and credit card fraud. “The CBA acknowledges that ...
 
 
Pinder: Negotiation ongoing over OECD exchange standard
Minister of Financial Services Ryan Pinder has stated that while the government would never “jeopardize the reputation of the country” in the financial services industry, extensive negotiations are still required to comply with a recent internati...
 
 
Andros farm: Mailboat system overhaul needed
A Bahamian farm has welcomed the educational efforts of the Bahamas Agriculture and Marine Science Institute (BAMSI), while calling for upgrades to the antiquated mailboat system on which inter-island produce sales rely. Chavara Roker-Eneas, preside...
 
 
Palm Cay marina gets enthusiastic reviews on boaters’ site
Palm Cay Marina & Beach Club, the 194-slip marina that opened earlier this year in an active residential community on New Providence’s southeast coast, is getting rave reviews from visiting yachtsmen on a website known as the TripAdvisor for th...
 
 
Concerns as airlift falls 8.5 percent in four years
The head of Atlantis has expressed anxiety over the level of airlift coming into the country from The Bahamas’ major source market ahead of the opening of Baha Mar, after official figures obtained show that such airlift into Nassau declined by 8.5 ...
 
 
​IMF: Speed up energy reform to boost growth
The International Monetary Fund (IMF) has urged the government to "accelerate" efforts toward reforming the energy sector in order to help create the conditions to "strengthen and diversify" growth in The Bahamas. The IMF also pressed for the govern...
 
 
Chamber: Unemployment drop ‘encouraging’
An official from the Bahamas Chamber of Commerce and Employers Confederation (BCCEC) has welcomed the “encouraging” drop in national unemployment revealed in a recent Department of Statistics report, while encouraging the government to do more to...
 
 
Dive association: More regulation of foreign dive operations ‘urgent’
The president of the Bahamas Diving Association (BDA) has pledged to work with the government to ensure stronger regulation of foreign dive boats operating in Bahamian waters, claiming that worldwide publicity surrounding the recent disappearance of ...
 
 
Coalition on wage rise: ‘Entitlement’ mindset must shift
Prominent members of the business sector have supported a wage increase for members of the public sector, while warning that the country’s workforce needs to shift away from a mentality of “entitlement” toward increased productivity and the gov...
 
 
Cooperative business plan competition launched
An official from the Bahamas Co-operative League Limited (BCLL) has expressed hope that an upcoming business plan competition will act as a “catalyst” for revitalizing Bahamian cooperatives. BCLL General Manager Stephanie Missick-Jones hopes tha...
 
 
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