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Business

 
Grand Lucayan deal in jeopardy
A deal to revive the troubled Grand Lucayan hotel complex could once again be in jeopardy, Guardian Business understands, with a hopeful investor prepared to pull the plug on the property. Guardian Business understands that the Wynn Group is prepari...
 
 
BHTA representatives meet with minister
Representatives from The Bahamas Hotel and Tourism Association (BHTA) recently met with Minister of Financial Services, Trade & Industry and Immigration Brent Symonette to discuss strategies to enhance local sourcing opportunities for the tourism...
 
 
Grand Bahama still ‘teeming with activity’
Director at the Ministry of Tourism in Grand Bahama Betty Bethel said there is a “misconception” surrounding what the island has to offer its visitors amid a challenged economy. Bethel argued that Grand Bahama is still filled with activities for ...
 
 
Grand Bahama a better fit than NP for vacation home rentals, says GB tourism executive
Airbnb, the vacation home rental giant, could be a huge success on Grand Bahama, since the island has an ideal accommodations system already in place for visitors looking for something outside of the average hotel experience. Director of Tourism in ...
 
 
Grand Bahama a better fit than NP for vacation home rentals, says GB tourism executive
Airbnb, the vacation home rental giant, could be a huge success on Grand Bahama, since the island has an ideal accommodations system already in place for visitors looking for something outside of the average hotel experience. Director of Tourism in ...
 
 
Numbers industry ‘shouldering construction’
Many of the new developments in the construction sector on New Providence over the past 12 months have come through development firm Brickell Management or its subsidiary Vandoff Bahamas, all of which - and more - are linked back to numbers house bos...
 
 
Airbnb to trigger economic growth
Airbnb, the vacation home rental giant, could “trigger” much needed economic growth in The Bahamas, reeling in new business for banks and providing more jobs in the construction sector. Chairman of Mario Carey Realty (MCR) Bahamas Group Mario Ca...
 
 
BPL union ‘sad’ over firing of CEO
"Today is a sad day for the union”, Secretary General of the Bahamas Electrical Workers Union (BEWU) Astrid Bodie told Guardian Business yesterday regarding the firing of Bahamas Power and Light CEO Pamela Hill. Bodie called Hill the “human si...
 
 
FINCO suffers increase in non-performing loans
In the face of a prolonged mortgage crisis, the Finance Corporation of Bahamas Limited (FINCO) reported yesterday that non-performing loans increased to $122 million during the second quarter of the bank’s fiscal year. Royal Bank of Canada’s (RB...
 
 
Govt making progress on austerity plan
Government is at the stage in its austerity plan where it has come up with recommendations on how to find at least 10 percent savings in each government ministry, Deputy Prime Minister and Minister of Finance Peter Turnquest told Guardian Business ye...
 
 
BCA looking to govt for public projects resurgence
With the construction sector facing a slowdown by the end of the year, according to President of the Bahamian Contractors’ Association (BCA) Leonard Sands, the sector is looking to government to tell it when it should expect to see a resurgence in ...
 
 
Turnquest pleased with progress in govt’s first 100 days
The first 100 days in office have slipped past the new Free National Movement (FNM) government, and Deputy Prime Minister and Minister of Finance Peter Turnquest told Guardian Business that he is very pleased with his administration’s progress thus...
 
 
CTO calls for dialogue on U.S.-Caribbean legislation
The Caribbean Tourism Organization (CTO), of which The Bahamas is a part, has called on those responsible for implementing the United States-Caribbean Strategic Engagement Act, known as H.R. 4939, to come to the table and meet with Caribbean tourism ...
 
 
Carnival bands gearing up for 2018 despite silence from govt
President of the Bahamas Carnival Band Owners Association (BCBOA) Dario Terrelli told Guardian Business yesterday that carnival bands are gearing up for 2018, despite government being closed-lipped on the festival, which has caused much controversy s...
 
 
Five-year strategic plan unveiled at Consumer Protection Commission board meeting
The Consumer Protection Commission (CPC) and its newly appointed board held its first meeting last Friday, where Minister of Labor Senator Dion Foulkes – who has responsibility for consumer affairs – laid out his five-year strategic plan, accordi...
 
 
Alliance formed to support Deloitte’s cyber risk practice
Deloitte in The Bahamas and the wider Caribbean is getting its cybersecurity beefed up by Unified Technologies, a pan-regional information technology solutions provider with operations in the Caribbean and North America, a press release has revealed....
 
 
CCA still silent on if it will meet October 15 Baha Mar deadline
With only two and a half months left before the SLS at Baha Mar is scheduled to open, it is still not yet known whether China Construction America will meet its October 15 deadline to have construction completed. The contractor of record for the meg...
 
 
Bad loans blamed for BOB’s fourth quarter net loss
Bank of The Bahamas (BOB) continues to struggle with bad loans despite what it considers to have been "significant strides made" in its transformation process, as the bank saw an increase in net loan loss provisions of $20.1 million compared to the s...
 
 
BIA exec questions legality of NHI in its current form
Another Bahamas Insurance Association (BIA) executive has pegged National Health Insurance (NHI) as operating illegally in its current form, despite the universal health insurance scheme already having 25,000 people enrolled. Deputy Chairperson of t...
 
 
J.S. Johnson reports income decline; still reeling from Matthew
J.S. Johnson Insurance company is still reeling from the effects of Hurricane Matthew on its bottom line, the company said in recently released second quarter results, reporting an income decline of 17 percent. According to the company, income decli...
 
 
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