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Business

 
BIA unchanged on NHI; looks forward to dialogue with new govt
The Bahamas Insurance Association (BIA) is looking forward to working with the Minnis administration on National Health Insurance (NHI) going forward, and its position for a prudent rollout remains unchanged. Chairman of the BIA Emmanuel Komolafe to...
 
 
Production company could face $10 mil. hit following Fyre Festival
The saga surrounding the ill-fated Fyre Festival is continuing to haunt the event's organizers, with an article published last week outlining that a Miami-based production company’s equipment, valued at $10 million, could be auctioned off by The Ba...
 
 
BPL insists it will meet summer power demands
Bahamas Power and Light (BPL) is insisting that it will be able to meet the power needs of New Providence this summer as the island’s power needs peak. The company, in a press release, said its capital projects and maintenance activities have shor...
 
 
Pharmaceutical companies still hesitant on NHI
While optimistic about working with the Minnis administration on National Health Insurance (NHI), Bahamas Pharmaceutical Association (BPA) President Michelle Finlayson revealed that 53 pharmacies have yet to sign on board with the proposed NHI reimbu...
 
 
Bahamas touted as ‘well-regulated’ international financial center
The Bahamas has been recognized as a “well-regulated” international financial center by Hedgeweek.com, which spoke to CEO and Executive Director of the Bahamas Financial Services Board Tanya McCartney about the lengths The Bahamas has gone in ord...
 
 
Study: Bahamas the most ‘extreme’ case of low-lying coastal countries in Caribbean
A study by the Inter-American Development Bank (IDB) revealed yesterday that more than 80 percent of the population in The Bahamas live in low-elevation coastal zones (LECZs), marking one of the “most extreme” cases among Caribbean small island d...
 
 
Baha Mar president: Reservations for summer exceeding expectations
President of Baha Mar Graeme Davis told Guardian Business yesterday that reservations have exceeded management’s expectations for travel this summer. "Phase one opening of Baha Mar launched with tremendous excitement. Live reservations have exceed...
 
 
IDB: Employment does not preclude criminality
The idea that employment alone helps to reduce crime is being debunked, especially when persons are faced with conditions such as poor wages and little to no drive in building a future in a particular career. Inter-American Development Bank (ID...
 
 
GBPA to incentivize innovative startups with license fee waiver program
Grand Bahama hopes to diversify its small and medium-size enterprise sector through a business diversity waiver, which affords innovative entrepreneurs in Grand Bahama a one year waiver on the Grand Bahama Port Authority (GBPA) license fee. The anno...
 
 
Hurricane Matthew partly to blame for J.S. Johnson’s 50% net income drop
J.S. Johnson Insurance Agents and Brokers’ financial results for the first quarter of 2017, which were released yesterday, revealed that net income fell by 50 percent and the impact of Hurricane Matthew partly led to the company’s performance bei...
 
 
WSC celebrates 2017 essay and video winners
The Water and Sewerage Corporation’s (WSC) May observance of Water Month has become synonymous with the corporation’s annual essay and video competition, which gives high school-aged students the opportunity to show the impact of water on The Bah...
 
 
Bank of The Bahamas reports $11 million loss
Bank of The Bahamas (BOB) released its financial statements for the first quarter of 2017 yesterday, revealing losses of $11 million, $5 million more than the bank reported in the first quarter of 2016. Its losses continue, even after the bank was ba...
 
 
IDB study: Bahamas’ crime-related costs highest in the Caribbean
A study released this week by the Inter-American Development Bank (IDB) reveals that The Bahamas has the highest crime-related costs in the Caribbean. This includes costs incurred by the government, costs incurred by the private sector, social costs ...
 
 
New Commonwealth Brewery beverages boost revenue; expenses impact net income
The launch of popular alcoholic beverages, such as Kalik Radler Cranberry and Pina Colada, contributed to a boost in revenue for Commonwealth Brewery Ltd. (CBL) in the first quarter of this year. In its first quarter unaudited financials released ye...
 
 
Komolafe: Bahamas needs risk management framework to counter natural disasters
Chairman of the Bahamas Insurance Association (BIA) Emmanuel Komolafe asserted the need for The Bahamas to develop a risk management framework in case of a national disaster, as the 2017 hurricane season draws near. In light of Hurricanes Matthew an...
 
 
Health and wellness company hoping to trim the fat with new corporate program
Health and wellness is one of the fastest growing economic sectors worldwide, but according to one fitness expert, The Bahamas, with a 90 percent obesity rate within the workforce, is behind in cashing in on the craze. He suggested the local private ...
 
 
URCA and its licensees host 120 students during ‘Girls in ICT Day’ event
“Don’t be afraid of challenges and new opportunities.” “If you fall, remember to get up quickly.” “Smart is the new sexy.” These are just some of buzz phrases and words of advice that over 120 young ladies heard at the third annual c...
 
 
2,000 BTC customers are watching Flow to Go
Bahamas Telecommunications Company’s (BTC) new mobile television app, Flow to Go has reached 20,000 subscribers! BTC introduced the mobile television app to its customers for Christmas last year. BTC CEO Leon Williams views this as a great accompl...
 
 
Flowers urging new govt to revisit web shop policies
CEO of FML Group Craig Flowers is urging the new government to revisit some policies in the gaming industry which he thinks were not properly implemented by the former Christie administration. Speaking with Guardian Business yesterday, Flowers said ...
 
 
Colina Holdings posts strong Q1 results
Colina Holdings Bahamas Limited (CHBL) yesterday announced strong first quarter financial results for 2017, “boasting a positive start to the company’s fiscal year”. The company’s Q1 financial statements revealed that total net income for th...
 
 
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