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Business

 
CIBC FirstCaribbean’s non-performing loans down 27 percent
Amid a challenged economy, CIBC FirstCaribbean International Bank (Bahamas) Limited (FCIB) recorded a decline of 27 percent in non-performing loans for the fiscal year ending October 31, 2016. In the bank’s unaudited financial statements for the y...
 
 
Memories Grand Bahama still closed since passage of Hurricane Matthew
Memories Grand Bahama Beach & Casino Resort remains closed since the passage of Hurricane Matthew, but discussions are underway to finding a “swift resolution” to open the resort. In the interim, Guardian Business understands that the resort...
 
 
CFAL: Focus on taxation while excluding fiscal austerity not working
CFAL has weighed in on The Bahamas’ most recent sovereign credit rating downgrade by Standard and Poor’s (S&P), and agrees that the government has a long way to go to improve The Bahamas’ fiscal standing before it can bring the economy back...
 
 
BTVI, U.S. Embassy strengthening alliance
Officials of the United States Embassy and the Bahamas Technical and Vocational Institute (BTVI) recently engaged in a productive dialogue. U.S. Embassy Public Affairs Officer Penny Rechkemmer and Education and Cultural Specialist Chanelle Cleare, me...
 
 
Bahamas Customs to celebrate International Customs Day
FREEPORT, Grand Bahama – Community involvement, honoring long-serving officers, educating and advising stakeholders, and sporting events are among the list of activities planned for the celebration of the 28th International Customs Day. During a p...
 
 
Sealy: NHI will lead to increased healthcare system costs
While asserting the need for a National Health Insurance (NHI) scheme in The Bahamas, CEO of Doctors Hospital Charles Sealy admitted that its implementation will lead to a rise in costs for the healthcare system as a result of increased technology us...
 
 
IHIMS launched; no final implementation date
There is no final implementation date for the integrated health information management system (IHIMS), which will automate several functions within the public healthcare system at a cost of $18.39 million. Yesterday, the Ministry of Health, in conju...
 
 
Ocean Terraces back in court in six months
Even as the West Bay Street property now known as Ocean Terraces finally joins the real estate listings of upscale properties on New Providence, the fight in court over two of the property’s units and more than $2 million will continue in six month...
 
 
Study recommends restructuring of healthcare sector’s governing bodies
The structure of The Bahamas’ governing bodies in the healthcare sector will have to change if the country is to effectively and efficiently implement universal healthcare (UHC), a study done by the National Health Systems Strengthening Committee s...
 
 
Sandals Royal Bahamian welcomes travel agents for event-filled showcase
Still glowing from a multimillion-dollar refurbishment and grand relaunch, Sandals Royal Bahamian Resort & Offshore Island welcomed over 150 home-based travel agents from all over North America to showcase its Nassau property and learn more about...
 
 
Sands: Different type of Baha Mar training program this time around
Baha Mar staff training, due to commence soon, will not be in the form of the holistic leadership development training received by the first wave of Baha Mar recruits under former developer Sarkis Izmirlian, it was revealed yesterday. Robert “Sand...
 
 
No marketing, promotion 96 days before soft opening of Baha Mar
With only 96 days left before the eagerly anticipated soft opening of the Baha Mar resort, the company has yet to begin local or international marketing. Robert “Sandy” Sands, Baha Mar's senior vice president of administration and external affai...
 
 
Contract signed to improve San Salvador’s water supply
A contract worth $1.6 million was recently signed to improve and extend the water supply on San Salvador. The contract was signed between the Water and Sewerage Corporation (WSC) and Bahamas Hot Mix Co. Ltd., a leading Bahamian road contractor. The...
 
 
Gomez: Need for fair competition, fees in banking sector
Chairman of the Consumer Protection Commission (CPC) Jerome Gomez asserted the need for fair competition within the retail banking sector amid consumer complaints over fees charged for certain banking services. Last year, the CPC conducted a survey ...
 
 
Supervision analyst of the Insurance Commission of The Bahamas achieves international designation
The Insurance Commission of The Bahamas is pleased to announce the success of Carl R. Culmer Jr. in attaining the Associate in Captive Insurance (ACI) designation in December 2016. This designation, established by the International Center for Captiv...
 
 
Bahamas Mortgage Corp. has 42% delinquency rate
Over the past six years, the Bahamas Mortgage Corporation’s (BMC) arrears have increased three to five percent, and statistics provided to Guardian Business reveal that the government-owned entity to date has a 42 percent delinquency rate. Informa...
 
 
J.S. Johnson estimates $60 million in Hurricane Matthew claims
J.S. Johnson paid out 75 percent of its claims during the three months following the passage of Hurricane Matthew across The Bahamas, the company's senior manager, Charles Johnson, said recently. Speaking to the media at a press conference for the R...
 
 
Anderson: Technology will continue to replace retail banking jobs
President of Royal Fidelity Merchant Bank & Trust Ltd. Michael Anderson said the number of jobs replaced by technology in the retail banking sector is likely to increase over the next few years. Anderson told Guardian Business that the prolifera...
 
 
New car sales decline impacting insurance firms
New car sales have been declining year-on-year for the past eight years, according to J.S. Johnson Senior Manager Charles Johnson, who said insurance companies have been taking a hit on the comprehensive premiums side. Johnson, speaking to the media...
 
 
Royal Fidelity Bahamas Economic Outlook to feature five internationally renowned speakers
Now in its third year, the Royal Fidelity Bahamas Economic Outlook continues to grow year-on-year and bring insightful speakers and topics to Bahamian professionals. The event will take place at the Atlantis resort on January 31 and will feature fiv...
 
 
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