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Business

 
Region’s GDP expected to shrink by as much as one percent
A new report estimates that Latin America and the Caribbean’s (LAC) gross domestic product (GDP) will shrink by between 0.9 percent and one percent this year, which makes it the second consecutive year of negative growth and a rate of contraction t...
 
 
Morris acquitted of all charges in Montreal
Crown prosecutors in Montreal, Canada have dropped all charges against Bahamian businessman Jeremy Morris, who had been accused of conspiracy, fraud and offering secret commissions in connection with an alleged conspiracy to rig bids in awarding a $1...
 
 
Companies could access 20K acres of Crown land
A reading of the proposal by the Bahamas Embassy in Beijing for a $2.1 billion agri-fisheries project reveals that the Bahamian partners will have access to as much as 20,000 of acres of Crown land for farming. While the Chinese and Bahamian governm...
 
 
Warwick chief looks to PI property to train regional staff
President and Founder of the Warwick Hotels and Resorts (WHR) Group Richard Chiu told Guardian Business that the group intends to use the Warwick Paradise Island as a training ground for its North American business. The Paradise Island property is ...
 
 
Bahamas lagging on transparency, minority investor protection
The Bahamas scored the lowest on the extent of transparency out of nine comparable economies, according to a recent World Bank Group (WBG) report on doing business. In addition, the report revealed that The Bahamas stands at 118 in the ranking out o...
 
 
AG responds to ease of doing business concerns
Struggling with a sliding ranking which now stands at 121 out of 190 economies on the World Bank Group’s “Ease of Doing Business” index, Attorney General Allyson Maynard-Gibson announced yesterday the digitalization of more services at the Regi...
 
 
Civil society group maintains FOIA pressure
The Free National Movement passed a Freedom of Information Act in 2011, but despite criticism of that legislation — which had been debated, passed and lacked only to be signed into law — the Christie administration of the Progressive Liberal Part...
 
 
World Bank measures insolvency resolution
The Bahamas stands at 59 out of 190 economies on the ease of resolving insolvency, an important tool for economic survival. “A robust bankruptcy system functions as a filter, ensuring the survival of economically efficient companies and reallocati...
 
 
GB minister welcomes stress, business seminars
In an effort to assist residents of Grand Bahama in their restoration efforts post Hurricane Matthew, a tripartite agreement was made to put together a two-day seminar including a post-traumatic stress seminar and seminars for small and medium-sized ...
 
 
Turnquest: Show details for $1M claim
Blasting the Christie administration’s “reckless disregard for transparency when it comes to the people’s monies”, East Grand Bahama MP and Shadow Finance Minister Peter Turnquest demanded “a detailed account of funds”, and asserted...
 
 
Stellar Energy underlines preparation to manage landfill
As relations between the Bahamas government and Renew Bahamas teeter, and management of the New Providence landfill has swung back to the Department of Environmental Health Services, Stellar Energy Ltd. is touting its international bona fides; the ...
 
 
Forum focuses on Japan investment in LAC
In an effort to create synergies and business opportunities between Japan and the Latin America and Caribbean (LAC) region, high-level government officials, private sector leaders and representatives from 50 small and medium-sized enterprises (SMEs) ...
 
 
Graycliff closes in on winery opening date
Top management at Graycliff revealed that construction has begun on the first Bahamian winery, which is estimated at a total cost of $4 million to $5 million. The first phase of the winery is expected to open as early as spring 2017. President of th...
 
 
November is small business month
The Bahamas Telecommunications Company (BTC) and the Bahamas Chamber of Commerce and Employers’ Confederation (BCCEC) will host Small Business Month throughout November. And BTC Vice President for Business Carlyle Roberts said it’s a chance for B...
 
 
Tires: The key to a more eco-friendly ride
You might be like me and want to be more eco-friendly but cringe at the thought of a car loan. Well you can make your existing ride better for the environment and for your pocket by switching to eco-friendly tires. When we think of it, the less ener...
 
 
Garzaroli push to incentivize cruise ship visitors
President of the Graycliff Cigar Company Paolo Garzaroli asserted the need to incentivize cruise ship visitors to spend more in The Bahamas. “The problem is the only thing people know about Nassau is Atlantis,” Garzaroli said. On average, cruis...
 
 
CTFE in talks with Baha Mar brand partner
Chow Tai Fook Enterprises (CTFE) has come under intense scrutiny after announcing that it wants to buy Baha Mar, and while the conglomerate – known mostly for its gigantic jewelry business in China – continues to speak as though no deal is comple...
 
 
Bahamas near bottom of ranking on property registration
Although The Bahamas made transferring property easier by reducing stamp duty, it still made the process more costly by increasing the applicable stamp fees. This, along with other related factors, led to The Bahamas placing 166, out of 190 economie...
 
 
Higher permit fees increase construction complication
Construction is The Bahamas’ third largest sector, behind financial services and tourism. However, a recent report by the World Bank Group concluded that The Bahamas made dealing with construction permits more costly by increasing building permit f...
 
 
Port Lucaya Marketplace reopens after Matthew
Just over two weeks after Hurricane Matthew devastated the island of Grand Bahama, the Port Lucaya Marketplace has announced that it is open for business. The category four storm had left the marketplace with substantial damage. Immediate efforts we...
 
 
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