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Business

 
Need to maximize economic benefits from local timber, says forestry dept.
Officials from the Department of Forestry asserted the need to “maximize” the economic benefits of large volumes of forest on islands like North Andros, which currently hosts harvestable acreage worth an estimated $12.7 million. The officials ex...
 
 
Christie: Repairs at Grand Bahama Shipyard moving rapidly
Restoration efforts at the Grand Bahama Shipyard Limited (GBSL) are moving rapidly and the company is currently repairing six ships in the yard with 954 employees, according to Prime Minister Perry Christie. Christie provided an update on the indust...
 
 
URCA issues questionnaire on resale fixed broadband demand
The Utilities Regulation and Competition Authority (URCA) issued a questionnaire to industry stakeholders in an attempt to assess the demand for resale fixed broadband services or any other wholesale broadband services and to see if there is a need t...
 
 
The religion of business success
Those who religiously follow my column will know that over the last six years I‘ve reviewed business books written by all sorts of people including billionaires, academics, economists, military leaders, politicians, TV presenters and sports stars; ...
 
 
Central Bank hosting Annual Monetary Studies Conference
The Central Bank of The Bahamas is pleased to announce that during the period November 9-11, 2016 the bank, in conjunction with the Caribbean Centre for Money and Finance (CCMF), will be hosting the XLVIII (48th) Annual Monetary Studies Conference, u...
 
 
BTC revenue decrease impacts CWC’s mobile revenue
A telecommunications giant has pinned its drop in mobile revenue to The Bahamas. Cable & Wireless Communications Limited (CWC), the part owner of the Bahamas Telecommunications Company (BTC), said that its mobile revenue was two percent lower in ...
 
 
Report reveals Matthew’s financial impact on GB
The impact of losses incurred across Grand Bahama’s industrial and tourism sectors as a result of Hurricane Matthew were revealed in a financial damage assessment report on properties and companies owned by Hong Kong-based investment holding compan...
 
 
PM: Active negotiations for acquisition of major hotel assets in Lucaya
Prime Minister Perry Christie said that “active negotiations” are ongoing for the acquisition and operation of major hotel assets in Lucaya. Speaking in the House of Assembly yesterday Christie said, “Active negotiations are ongoing and are at...
 
 
Transparency International urges govt to prioritize FOIA
Transparency International (TI) has called on the Bahamian government to prioritize the introduction of the Freedom of Information Act (FOIA). Regional Director for the Americas at TI Alejandro Salas said, “The enactment of a FOI act should be a h...
 
 
McCartney stresses importance of business continuity plan
While addressing cybersecurity risks in the financial sector, CEO of the Bahamas Financial Services Board (BFSB) Tanya McCartney asserted the importance for businesses to have a business continuity plan (BCP). “Every financial institution should h...
 
 
Bahamas First launches fourth cycle of Future Leaders Development Programme
Bahamas First Holdings Ltd. continues to demonstrate its commitment to its core value of employee development, with the launch of the fourth cycle of its Future Leaders Development Programme (FLDP), to ensure the company maintains a pipeline of talen...
 
 
Labor Force Survey enumerators, supervisors sworn in
FREEPORT, Grand Bahama – Sixteen enumerators and two supervisors were sworn in on November 2, 2016 to carry out the Department of Statistics’ bi-annual Labor Force Survey during the month of November in Grand Bahama. Administrator Brenda Colebroo...
 
 
BICA head concerned about rating in World Bank index
International investors may think twice about doing business in The Bahamas if the country continues to slide on the World Bank’s Ease of Doing Business Index. According to President of the Bahamas Institute of Chartered Accountants (BICA) Darnell...
 
 
Rolle: Better ease of doing business in Freeport
President of the Grand Bahama Port Authority (GBPA) Ian Rolle said if Freeport was a standalone jurisdiction being ranked on the World Bank Group’s ease of doing business index, it would place somewhere in the top 50. In light of the country placi...
 
 
Loan arrears up in September
Loan arrears were up for the month of September while private sector lending contracted for the first nine months of 2016, according to The Central Bank of The Bahamas’ (CBOB) Monthly Economic Financial Developments (MEFD) September 2016 report. B...
 
 
Modest cost pressures due to Matthew, says Central Bank
In its Monthly Economic Financial Developments (MEFD) report for September, The Central Bank of The Bahamas (CBOB) warned about modest cost pressures due to Hurricane Matthew. The regulator attributed those pressures to an increase in overall demand ...
 
 
Blue Diamond ‘increasingly frustrated’ with Hutchison
Blue Diamond Resorts, which manages Memories Grand Bahama, yesterday blasted property owner Hutchison Whampoa over “failed attempts” to finalize a reopening date in the wake of Hurricane Matthew. Blue Diamond said that even Prime Minister Perry ...
 
 
Central Bank considers Matthew’s impact on economy
The economic outlook in light of Hurricane Matthew is bittersweet: short-term disruptions to businesses, a short-lived impact on the tourism sector, and an uptick in construction activity, according to The Central Bank of The Bahamas’ Monthly Econo...
 
 
$25M IDB loan for jobs, skills program
The government has agreed to borrow $25 million from the Inter-American Development Bank (IDB) to help fund a new jobs initiative to increase workplace skills and improve employability among young people and adults who have had difficulty finding w...
 
 
Payments begin for Baha Mar creditors under $500K
Baha Mar Claims Committee Chairman James Smith said the committee started paying the first category of vendors that were owed under $500,000 by Baha Mar Ltd. yesterday. Smith told Guardian Business that the selected tranche would be between 150 to 2...
 
 
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