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Business

 
Damaged Bahamasair plane hasn’t affected schedules
Bahamasair’s flight schedules have not been significantly affected by an out-of-service aircraft, as the company awaits the arrival of structural engineers from French-Italian aircraft manufacturer ATR to assess the damage caused to the aircraft ...
 
 
Baha Mar announces Grand Hyatt GM; soft opening imminent
With only 36 days left before the Grand Hyatt is set to open as Baha Mar’s first occupied hotel, the resort announced the appointment of a general manager for the 1,800-room hotel. In a release issued yesterday, Baha Mar named Scott Allen as the g...
 
 
Flowers: Banks don’t know their customers like gaming houses do
CEO of FML Group of Companies Craig Flowers said he thinks that gaming institutions do a better job than banks and casinos at keeping track of its customers through the Know Your Customer (KYC) regime. He added that web shop deposits being accepted b...
 
 
Details of Aliv’s upcoming $30M bond issue revealed
Be Aliv Limited will launch a $30 million bond issue in just a few days as a private placement offering, requiring interested investors to meet the condition of a minimum subscription of $50,000. Financial services firm CFAL released the information...
 
 
BISX explains IPO process after Island Luck announces bid to sell shares
Days after Island Luck CEO Sebas Bastian announced that he is working towards releasing an initial public offering (IPO), Chief Operating Officer (COO) of the Bahamas International Securities Exchange (BISX) Holland Grant explained to Guardian Busine...
 
 
Consolidated Water: Delays in collecting money from govt ‘from time to time’
In its annual report to the U.S. Securities and Exchange Commission, Consolidated Water (CW) Bahamas revealed that from “time to time” it experiences delays in collecting money owed to it from the Bahamas government. As at last year, the Water an...
 
 
Aliv meets with religious leaders
Aliv recently hosted a meet and greet with local religious leaders at its Soldier Road headquarters. The meeting served two purposes: to create a personal introduction and to discuss ways to form partnerships for community efforts. Aliv Chairman Fra...
 
 
‘State and quality’ of Mortgage Corp.’s financials stump auditor
The Bahamas Mortgage Corporation’s (BMC) report for the financial year ending June 2012 reveals that the corporation did not have “sufficient” and “appropriate” evidence to support the balances and transactions that accompanied its financia...
 
 
BHEA sees Employment Act, Industrial Relations Act amendments as crippling for businesses
The Bahamas Hotel and Restaurant Employers Association (BHEA) asserted in a press statement yesterday that the amendments to the Industrial Relations Act and the Employment Act introduced by government yesterday will have a “crippling impact on Bah...
 
 
Bowe: Govt needs to be mature in its replies to foreign investors
Government has to be more mature in its replies to foreign investors or do not reply at all, Bahamas Chamber of Commerce and Employers’ Confederation (BCCEC) Chairman Gowon Bowe explained yesterday, insisting that its commentary travels far beyond ...
 
 
Reinsurance inflows to outpace traditional financing in construction sector
Reinsurance inflows as a result of Hurricane Matthew will “significantly outpace” traditional financing for domestic building activities, according to The Central Bank of The Bahamas’ Quarterly Economic Review for December 2016. The constructi...
 
 
Damianos Sotheby’s International Realty’s top producing agent taking part in ONE Summit
Damianos Sotheby’s International Realty’s top producing agent, Nick Damianos, has been invited to take part in a distinguished panel of elite performers at the highly anticipated ONE Summit in Miami, FL. The exclusive event for Sotheby’s Inter...
 
 
Debt-to-GDP ratio up to 87.4 percent
Government spending for just the second quarter of the current fiscal year expanded to $629.7 million, according to the Central Bank’s December quarterly economic review report. In addition, the country’s estimated debt-to-GDP ratio for total pub...
 
 
Insurance claims post-Hurricane Matthew $176M with only 50 to 60 percent reported
An initial but incomplete submission of insurance claims incurred post-Hurricane Matthew totaled over $176 million as at December 31, 2016, with only 50 to 60 percent of claims incurred reported to Chairman of the Bahamas Insurance Association (BIA) ...
 
 
Many companies subject to spying through open IP addresses
Open cameras at several businesses across the country showed cashiers sitting in cages. Some cameras showed perimeter fencing and were outfitted with ultraviolet technology. Another open IP (Internet protocol) address allowed a user to fiddle with vo...
 
 
New speed camera system can boost govt revenue and save lives
A speed camera being beta tested in western New Providence reported 25,000 speed infractions in a little more than one month. Intelligent Enforcement Ltd.’s (IntelEnforce) principal, Donovan Paul, told Guardian Business yesterday that if a $40 fin...
 
 
Tiger Woods teams up with Jack’s Bay Developers on luxury golf resort
Jack’s Bay Developers, Beacon Land Development, and TGR Design have announced the development of Jack’s Bay, a premier destination for paradise property and a private club in The Bahamas. Jack’s Bay is located in Rock Sound on the island of El...
 
 
BTC’s restoration in GB expected to be 99% by end of the month
FREEPORT, Grand Bahama – In October of 2016, Hurricane Matthew ripped through The Bahamas as a very large and dangerous Category 4 system, bringing with it heavy rains and high winds, which downed power lines, uprooted trees, flooded low lying area...
 
 
170 begin dealer training at Baha Mar Casino
Baha Mar began the first day of dealer training at Baha Mar Casino yesterday with 170 employees participating, as the resort prepares to open its doors in less than 40 days. According to a statement released by Baha Mar, all of the recently-hired ca...
 
 
Bahamas Carnival launches, but scaled back to meet budget
Bahamas Junkanoo Carnival was officially launched last Friday, with the Bahamas National Festival Commission (BNFC) committing to its mandate to hold the annual festival amid controversy surrounding its spending over the last two years. BNFC CEO and...
 
 
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