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Business

 
Huawei moves up 20 spots in brand study
Huawei, the third-largest smartphone manufacturer in the world, whose products are sold in The Bahamas through the Bahamas Telecommunications Company (BTC), took the number 50 spot in Millward Brown’s BrandZ “Top 100 Global Brands” 2016 study, ...
 
 
Govt: $2.5M per month to fight Zika
Chief Medical Officer (CMO) Dr. Glen Beneby said the government plans to set aside an estimated $2.5 million every month to fight the Zika virus, which would add up to almost $30 million per year. During his contribution yesterday at a meeting for t...
 
 
Jibrilu outlines anti-Zika plan
Director General of Tourism Joy Jibrilu yesterday revealed details of the government’s four-pronged anti Zika-campaign. Jibrilu touted the efforts of public and private sector entities to help prevent Zika, including the Ministry of Health, the De...
 
 
Lagarde focuses on growth out of G20 summit
Managing Director of the International Monetary Fund (IMF) Christine Lagarde said the first priority coming out of the Group of 20 (G20) Summit in Hangzhou, China is a coordinated effort to raise growth, followed in importance by a commitment to that...
 
 
Xanadu still up for sale; asking price of $30M
Grand Bahama’s Xanadu Beach Resort & Marina is still for sale, with an asking price of $30 million. The property has been up for sale for years, but it appears new representation is giving the property the hard sell. Meanwhile West End and Bim...
 
 
NIB confirms Hermanns’ appointment
The National Insurance Board (NIB) has confirmed the appointment of Patricia Hermanns to the post of director of NIB with effect from September 1, 2016. Hermanns’ appointment officially fills the top slot at NIB after Rowena Bethel decided not to r...
 
 
D’Aguilar: Izmirlian should be represented on Baha Mar committee
Former board director of the $3.5 billion Baha Mar mega resort Dionisio D’Aguilar asserted the need for Bahamian contractors and Sarkis Izmirlian – the project’s original developer – to have some form of representation on the committee that w...
 
 
Bahamian to study aquaponics in China
The first Bahamian to pursue Ph.D. studies in aquaponics leaves for China this month. Assistant Aquaponics Manager at the Bahamas Agriculture and Marine Science Institute (BAMSI) Cameron Lightbourne heads to China to pursue a doctorate degree in aqu...
 
 
Zika training targets neurological danger
As Bahamian authorities wrestle with an increase in the number of Zika cases confirmed in the country, a Princess Margaret Hospital (PMH) official has participated in the effort by the Pan American Health Organization/World Health Organization (PAH...
 
 
Some travel agents skeptical about Baha Mar announcement
Skepticism abroad about the anticipated remobilization of construction on the $3.5 billion Baha Mar megaresort could threaten what had generally been accepted to be very positive word of mouth and high anticipation for the multiproperty development...
 
 
Rethinking relationships, pt. 3: Having conversations that matter
Anyone who is honest can say that achieving success in any relationship hinges greatly on the quality of communication between all parties. One of the challenges is being able to have conversations that matter – the ones that may be difficult to ha...
 
 
Hong Kong-headquartered company buys half of NAGICO
Peak Reinsurance Company Limited – a Hong Kong headquartered reinsurance company with an initial capital base of $550 million – recently completed negotiations to acquire a 50 percent stake in the Caribbean’s leading private general insurer kno...
 
 
Securities legislation tweaked to create hearing panel
Minister of Financial Services Hope Strachan said the Securities Industry Amendment Bill 2016 would help to create more transparency, accountability and integrity in the regulatory and enforcement process for policing the securities industry. The am...
 
 
CB reports 11.8% rise in net profit for first half 2016
For the first half of 2016, Commonwealth Bank Ltd. reported an increase of 11.8 percent in net profits, from $29.3 million to $32.7 million, in comparison to last year for the same period. In addition, the bank’s total revenue increased by nearly $...
 
 
U.S. firms ‘chomping at the bit’ to enter Bahamas solar sector
As energy sector reform moves forward, U.S. Deputy Assistant Secretary for Energy Diplomacy Robin Dunnigan says American companies are “chomping at the bit” to do business in The Bahamas, and once the government goes to tender for solar generat...
 
 
Chamber CEO urges opposition forces: Show us your plan
The House of Assembly met on Wednesday for the first time since Moody’s announced its downgrade of The Bahamas’ credit rating to Baa3 with a steady outlook, but the issue of the downgrade went unaddressed at that sitting. Meanwhile, CEO of the Ba...
 
 
Tourism to meet with stakeholders over Zika fears
The Ministry of Tourism plans to meet with stakeholders next week to discuss preventative measures against the Zika virus. This as the number of Zika cases confirmed in The Bahamas has risen. Wilchcombe stressed the importance of finding funding to ...
 
 
Minister expresses concern over Sojourner-Douglass status
Minister of Education Jerome Fitzgerald expressed his concerns over Sojourner-Douglass College’s announcement that it intends to continue operating in The Bahamas despite previously informing the public that it would be closing its doors on July 29...
 
 
Baha Mar expected to boost remainder of 2016
The Central Bank of The Bahamas (CBOB) expects the remainder of 2016 to improve based on the pending boost to construction output from the resumption of work on the $3.5 billion Baha Mar megaresort, coupled with the restoration of some room capacity ...
 
 
Wells calls for new cruise port downtown
Shadow Minister of Tourism Renward Wells said a new cruise port needs to be built downtown. Wells spoke with Guardian Business about his concerns for key aspects of The Bahamas’ tourism industry. He said there are untapped markets yet to be expl...
 
 
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