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Business

 
BOB focused on resolving loan debt
Bank of The Bahamas (BOB) Acting Managing Director Renee Davis acknowledged that the bank’s return to profitability is largely dependent on the performance of its loan portfolio, meaning a great part of the bank’s focus will have to be on resolvi...
 
 
Pointe parking garage open to transient traffic
The Pointe’s seven-story parking garage opened to the general public on Monday, with many users on the day finding the structure convenient for appointments at the United States Embassy, the development’s director of communications, Kendeno Knowl...
 
 
Energy audit helps hotel recognize 62% energy cost reduction
Two of 37 hotel properties audited in the Caribbean Hotel Energy Efficiency and Renewable Energy Action (CHENACT) study are already reaping the benefits in terms of cost savings, with one hotel seeing savings of 62.03 percent after implementing energ...
 
 
CTO Council of Ministers discusses best practices, sustainable tourism efforts
Obie Wilchcombe, chairman of the Caribbean Tourism Organization (CTO), chaired his first meeting of the Council of Tourism Ministers and Commissioners since being elected chairman last September. The meeting led to positive discussions on best practi...
 
 
Sandals Foundation gives ‘birthday bags’ to Gambier Primary School
What better way to celebrate your birthday while at school than to receive gifts? The children at Gambier Primary School are in for a treat during the course of the school year. Team members of Sandals Royal Bahamian and the Sandals Foundation, the ...
 
 
New cruise lines eyeing The Bahamas
New cruise lines are looking at the Bahamian market, Minster of Tourism Obie Wilchcombe told Guardian Business yesterday, as he and his ministry seek to introduce upgrades to the cruise product in order to keep the country’s cruise industry attract...
 
 
Band owners want to own Bahamas Junkanoo Carnival
As the government begins to seriously consider privatizing Bahamas Junkanoo Carnival, the Bahamas Carnival Band Owners Association (BCBOA) is insisting it should get first dibs at becoming the franchise owner of the festival. Guardian Business under...
 
 
Mobile number portability delayed until March
The launch date for consumers to experience mobile number portability (MNP) in The Bahamas was set for today, but is now expected to occur in March 2017. The Utilities Regulation and Competition Authority (URCA) said in a statement yesterday that it ...
 
 
Sandals Emerald Bay posting strong occupancy rate
Sandals Emerald Bay General Manager Jeremy Mutton said yesterday that the occupancy rate at the resort is high and is expected to continue until the summer months, showing that occupancy is picking up to its normal pace following the resort’s closu...
 
 
Trade sector support program launched
Minister of State for Finance Michael Halkitis said recently that The Bahamas has arrived at a significant milestone in implementing the Electronic Single Window (ESW) in the "action phase" of a trade sector support program. "The procurement of the ...
 
 
Air Canada Vacations has a keen eye on The Bahamas
Air Canada Vacations (ACV) recently met with members of the Bahamas Tourist Board to enhance its current product offerings and explore the expansion of access to the island. “We have unrivaled operations to The Bahamas,” said Nino Montagnese, ma...
 
 
Cruise lines fed up with govt inaction
Following the decision by Norwegian Cruise Line (NCL) to begin sailing the Norwegian Sky’s four-day cruise to Havana instead of Grand Bahama and Nassau, beginning in June, more cruise lines are considering taking Nassau out of their itineraries, Gu...
 
 
One and Only Ocean Club to reopen today after renovations
The One and Only Ocean Club is set to reopen today after several months of renovations, Minister of Tourism Obie Wilchcombe, told Guardian Business yesterday. Kerzner International, which operates the resort, sought to redefine its high-end luxury o...
 
 
Davis: Bahamasair expanding, restructuring domestic and international routes
Deputy Prime Minister and Minister of Works and Urban Development Philip Brave Davis has announced that Bahamasair will be expanding and restructuring its domestic and international routes in an effort to reduce the cash-strapped airline’s losses, ...
 
 
Efforts to reduce debt-to-GDP ratio ‘not working’, says Cargill
With The Bahamas' sovereign credit rating being downgraded to ‘junk status’ by Standard & Poor's last December, former Director of the National Insurance Board (NIB) Algernon Cargill suggested that it is time to move away from politicizing th...
 
 
PM tables regulations on concessions for GBPA licensees
In an effort to foster investor confidence in Grand Bahama, Prime Minister Perry Christie tabled on Wednesday the Grand Bahama (Port Area) Investment Incentives Regulations 2017, which outline the application process for certain licensees of the Gran...
 
 
Govt signs protocol to amend TIEA with Japan
Japan became the first partner in the Organisation for Economic Co-operation and Development’s (OECD) Global Forum on Transparency and Exchange of Information for Tax Purposes to sign a protocol with The Bahamas to amend the current tax information...
 
 
Caribbean tourism hits record, Bahamas cruise numbers up 5.8%
The Caribbean Tourism Organization (CTO) expects the tourism sector in the region to experience slow growth in the early part of 2017, coming on the heels of a record breaking 29.3 million stopover visitors in 2016. The organization has yet to unders...
 
 
CTO, Airbnb developing policy on online short-term rentals sector
The Caribbean Tourism Organization (CTO), the region’s tourism development agency, recently signed a landmark agreement with Airbnb to develop a set of policy principles and recommendations on the online short-term rentals sector for Caribbean gove...
 
 
Sunshine Insurance Race Weekend gives Bahamas $2.5 mil. spending boost
The eighth annual Sunshine Insurance Race Weekend (SIRW) generated more than 1,800 room nights and over $2.5 million in visitor spending. The event, held in January, attracted 524 international participants from 21 countries, including the United Ki...
 
 
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