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Business

 
Commonwealth Bank’s board approves extraordinary dividend
The board of directors of Commonwealth Bank Limited has announced a final extraordinary dividend of six cents per share based on the bank’s 2016 results of $57.4 million in net income. The extraordinary dividend, approved at the bank’s February ...
 
 
‘DealTrakr’ app launch by BAMMCo makes history
The revolutionary DealTrakr app, developed by BAMMCo (Bahamas Apps & Mobile Marketing Co.), brings proximity marketing to The Bahamas. DealTrakr is the first location-based deal hub to launch in this country. BAMMCo has successfully created an e...
 
 
Airports Council International ranks LPIA second best airport In Latin America-Caribbean Region
Airports Council International (ACI) has announced the winners of the 2016 Airport Service Quality (ASQ) Awards. The body named Lynden Pindling International Airport (LPIA) in Nassau the second best airport – with over two million passengers per ye...
 
 
From apprentice to employee
David Barry was a student of the painting and decorating program in 1969, back when the Bahamas Technical and Vocational Institute (BTVI) was known as Nassau Technical Centre. He went on to become an apprentice, and today is an employee who says he h...
 
 
BMD: Baha Mar had two completion guarantees from CSCEC
BMD Holdings, the original developer of Baha Mar, yesterday shot back at claims that it did not protect itself against the possibility of its general contractor not being able to complete the required work on the megaresort. BMD, in a release, said ...
 
 
Study ranks Bahamas seventh most expensive country to live in
A recent study conducted by relocation firm MoveHub, revealed that The Bahamas ranks seventh out of the 21 most expensive countries in the world to live in. The ranking was fueled by The Bahamas’ import bill being significantly higher than the co...
 
 
Deficit reaches $314.2M; govt optimistic it will stabilize
As the end of the fiscal year approaches, the government has an “optimistic” view that the fiscal deficit will stabilize despite it reaching an alarming $314.2 million just half way through the budget period. Minister of State for Finance Michae...
 
 
Collie casts blame on PLP for Water and Sewerage Corp.’s $147M deficit
Taxpayers will be responsible for an almost $150 million deficit on the Water and Sewerage Corporation's (WSC) books, Free National Movement (FNM) Chairman Sidney Collie said in a statement yesterday. Collie was responding to a recent audit of WSC t...
 
 
National debt now over $7 billion
The country’s national debt has now climbed over $7 billion as of 2016, a revelation that came in The Central Bank of The Bahamas’ (CBOB) Quarterly Statistical Digest (QSD) February, 2017 report. The report, published this weekend, shows that th...
 
 
Wilson: Former Baha Mar executives made mistakes
Businessman Franklyn Wilson suggested yesterday that an investigation should be done into why the cost of the Baha Mar project has skyrocketed to almost $4 billion, saying the number of rooms at that cost does not “make sense”. Wilson, who was a...
 
 
Vacation Express ‘disappointed’ to leave Grand Bahama
Atlanta-based tour operator Vacation Express told Guardian Business yesterday that it is “disappointed” to leave Grand Bahama, as it is the largest supplier of room nights on the island. It confirmed that its withdrawal was due to “insufficient...
 
 
Some travel agents apathetic about Baha Mar due to delays
Some travel agents are already apathetic about the news that Baha Mar is prepared to have a soft opening imminently, one saying “there are too many other, more recent developments and openings to get excited by”, according to an article written o...
 
 
RBC reducing branch complement via mergers
RBC (Bahamas) announced yesterday that it would be merging four of its branches with four others as the commercial bank seeks to digitize many of its services. It is unclear, however, how many employees would be impacted by this move. In a statement...
 
 
BIA: Dual fee schedules for NHI, private insurers unsustainable
The Bahamas Insurance Association (BIA) said yesterday that a reduction in payments to doctors and other healthcare providers under National Health Insurance (NHI) is apparently the “primary means” by which NHI is to be made affordable. In a sta...
 
 
WSC report reveals $147 mil. accumulated deficit
The Water and Sewerage Corporation’s (WSC) latest annual report revealed yesterday that the entity had an accumulated deficit of over $147 million as of December 31, 2015 and its financial performance has gradually “worsened” over the past deca...
 
 
Water and Sewerage Corp. reduced customer complaints by 1,300 in 2015
The Water and Sewerage Corporation (WSC) was able to reduce its customer complaints by about 1,300 in 2015, according to the company’s latest annual report. Among other things, the 2015 report that was tabled yesterday in the House of Assembly rev...
 
 
Sealy touts increased access to healthcare services under NHI
CEO of Doctors Hospital Charles Sealy said people will have greater access to healthcare with the $100 million primary care phase under National Health Insurance (NHI) — marking this as one of the reasons why the phase will have more to offer than ...
 
 
Study explores economic impact of local marina industry
In a bid to highlight the economic contribution of the marina industry to The Bahamas, an economic impact study sent to Guardian Business yesterday revealed that marina visitors and accommodation boaters account for about four percent of total stopov...
 
 
Higgs & Johnson receives ‘Top Tier’ ranking among corporate and commercial law firms
Higgs & Johnson Counsel & Attorneys-at-Law, a leading full-service corporate and commercial law firm in The Bahamas, has once again been recognized as a “Top Tier” firm in the financial and corporate category of the IFLR1000 Financial and...
 
 
Gomez ‘disappointed’ with Scotiabank banking fees hike
Chairman of the Consumer Protection Commission (CPC) Senator Jerome Gomez said yesterday that he was “disappointed” with the move by Scotiabank Bahamas (Ltd.) to increase banking fees for a number of its services effective April 1, 2017. Scotiab...
 
 
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