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Komolafe: Downgrade threat may ‘motivate’ implementation of structural, policy reforms
While international credit ratings agency Moody’s recently indicated that it has placed The Bahamas’ Baa3 rating on review for downgrade, Chairman of the Bahamas Insurance Association (BIA) Emmanuel Komolafe said there are still a few factors tha...
 
 
Commonwealth Brewery: Solid financial performance for 2016, positive outlook for 2017
Commonwealth Brewery Limited (CBL), the industry’s leader in beer, wine and spirits distribution, served up optimism for 2017 despite a challenging economic situation for shareholders at the company’s sixth annual general meeting (AGM) on June 20...
 
 
Still no date when NHI Authority will be officially established
Minister of Health Dr. Duane Sands confirmed yesterday that the board of the National Health Insurance (NHI) Authority has been selected, but there is still no definite date for when it will be officially established. Sands told Guardian Business th...
 
 
Still no pharmacy benefits under NHI
Almost three months into the primary care phase of National Health Insurance (NHI), there are still no pharmacy benefits under the program, indicating that pharmacies across The Bahamas have yet to sign on board with the healthcare scheme. Speaking ...
 
 
As public sector reforms, private sector will not ignore inefficiencies, says chamber chief
The transformation of the public sector will require the full support of the private sector, CEO of the Bahamas Chamber of Commerce and Employers’ Confederation (BCCEC) Edison Sumner said yesterday at the launch of the Public Financial Management a...
 
 
Bahamas lost competitive advantage by being expensive to get to, says tourism expert
A flight to Miami from New York next week is currently half the price of a New York to Nassau flight, but the average distance disparity between both flights is only seven miles. A tourism expert told Guardian Business yesterday that this country has...
 
 
Clearing Banks Association issues ‘mystery shopper’ scam warning
In an effort to promote fraud awareness, the Clearing Banks Association (CBA) issued a notice yesterday about the “mystery shopper” scam, which could result in a victim of fraud being liable for stolen money. The CBA explained that “fraudsters...
 
 
Govt to take advantage of opportunities in global shipping industry
The government of The Bahamas will assist wherever possible to ensure that the opportunities that lay within the shipping industry at the global level are taken advantage of. Addressing members of the media following a tour of the LJM Maritime Acade...
 
 
BTC sponsors Global Symposium for Regulators
Bahamas Telecommunications Company (BTC) was a key sponsor for the Global Symposium for Regulators, which was held in the country last week. The company thought it fitting to support the symposium, which brought together a massive meeting of the mind...
 
 
BIA questions how NHI is being administered
The Bahamas Insurance Association (BIA) is exploring whether actions taken to implement National Health Insurance (NHI) might have been in contravention of the law vis-à-vis the NHI Act and the Insurance Act. The BIA released a statement on the wee...
 
 
Central Bank: Gasoline prices up 14.6% during first quarter
The Central Bank of The Bahamas revealed that gasoline prices experienced a 14.6 percent hike during the first quarter of this year when compared to the same period last year. In its Quarterly Economic Review (QER) report for March, the regulator sa...
 
 
Tourism sector output weak in first quarter, says Central Bank
Cuba's Tourism Minister Manuel Marrero announced recently that Cuba’s tourist arrivals from the U.S. have grown by 150 percent, despite travel restrictions, and its market from Canada has rebounded from 2016. Meantime, The Bahamas is struggling to ...
 
 
Financing cost for commercial mortgages up to 10.8%
The average cost of financing for commercial mortgages rose to 10.8 percent by the end of the first quarter in 2017, The Central Bank of The Bahamas (CBOB) revealed in its Quarterly Economic Review for March. "With regard to interest rates, the aver...
 
 
Easy Car Sales supports St. John’s College in Solar Car Challenge
Easy Car Sales, the first and only provider of 100 percent electric vehicles (EVs) in The Bahamas, featured the solar-ready Nissan LEAF in this year’s St. John’s College Mardi Gras Fair, alongside another innovative car. The high school students...
 
 
Turnquest hits back at opposition on Moody’s
Deputy Prime Minister and Minister of Finance Peter Turnquest expressed disappointment with the official opposition’s responses to the possible downgrade by international credit rating agency Moody’s, saying his government cannot risk “low cred...
 
 
Ministry of Finance: Moody’s move ‘not unexpected’ given fiscal position
Almost a week after international credit rating agency Moody’s announced that it placed The Bahamas’ credit rating on review for downgrade, the Ministry of Finance (MOF) responded in a statement Wednesday night, stating that the move was “not u...
 
 
Galleria Cinemas in Grand Bahama to reopen today
In a twist of events, Grand Bahama’s only movie theater — Galleria Cinemas at Mall Drive in Freeport — will reopen today, allowing customers to continue to enjoy popular movies. Attorney for Galleria Cinemas Ltd. Greg Moss told Guardian Busine...
 
 
Speed camera traffic system gets nod from insurance sector
Intelligent Enforcement Ltd. (IntelEnforce) received a nod of approval from the insurance sector this week after the company’s principal Donovan Paul, and its Chief Information Technology Officer Michael Arteaga made a presentation to the 18 member...
 
 
Govt to establish unified bus system; pre-paid electric metering on the drawing board
The government of The Bahamas has plans to establish a unified busing system – fueled by smart technology - as part of an overarching plan to improve the transportation network within The Bahamas, Prime Minister Dr. Hubert A. Minnis said Wednesday....
 
 
Former BICA president shares vision for the future of accountancy
Regrets I’ve had a few, but then again too few to mention, I did what I had to do and saw it through without exemption, I planned each charted course, each careful step along the byway, and more, much more than this, I did it my way!” Quoting one...
 
 
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