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Business

 
Turnquest: CFA Society maintains strong ties with regulator
The CFA (Chartered Financial Analyst) Society of The Bahamas continues to maintain a strong relationship with the Securities Commission of The Bahamas, Robert Turnquest, the society’s president told the global CFA Institute recently, noting how m...
 
 
Patrick Ward urges removal of VAT from insurance products
With a new government in place, CEO and President of Bahamas First Patrick Ward insisted yesterday that value-added tax (VAT) be removed from insurance products, emphasizing that it is not only a burden to consumers, but to the government as well. V...
 
 
Captive insurance industry not competitive enough, says Ward
CEO and President of Bahamas First Patrick Ward yesterday shot down the idea of the captive insurance industry being prosperous once again in The Bahamas. The Bahamas has lost a lot of business in the captive insurance industry to Bermuda and the Ca...
 
 
Captive insurance industry not competitive enough, says Ward
CEO and President of Bahamas First Patrick Ward yesterday shot down the idea of the captive insurance industry being prosperous once again in The Bahamas. The Bahamas has lost a lot of business in the captive insurance industry to Bermuda and the Ca...
 
 
Henfield implores Bahamians to build businesses, take advantage of incentives
Senator Ranard Henfield in his Senate address yesterday implored Bahamians to “move quickly to reap the benefits of this administration’s efforts to improve the lives of all Bahamians”. Henfield pointed to the recent promises by Prime Minister...
 
 
Insurers keep their eyes on climate change
Insurance companies are keeping their eyes on the phenomenon that is global warming, as the 2017 hurricane season heats up. The insurers are concerned that not only storm frequency will increase, but also storm intensity and duration. Patrick Ward, ...
 
 
International financial services association recaps busy year during annual general meeting
The Association of International Banks and Trust Companies in The Bahamas (AIBT) held its annual general meeting (AGM) on June 22, 2017 during which Co-Chairman Bruno Roberts recapped a busy and productive year for the association. AIBT highlighted ...
 
 
Valentines Residences Resort and Marina initiates endowed scholarships at UB
Valentines Residences Resort and Marina embodies the picturesque tranquility of life on Harbour Island, Eleuthera, but the exotic enclave has also captured the world’s attention for its standard of excellence. The skills and diligence of the people...
 
 
BOB seeking to further reduce debt burden
Bank of The Bahamas (BOB) is seeking to further reduce its debt burden by converting $10 million of fixed rate, perpetual contingent convertible capital bonds effective at the end of this month. This move is likely part of the troubled bank’s effo...
 
 
Workshop highlights business continuity plan in event of natural disaster
With hurricane season now in effect, Vice President of Business at Bahamas Telecommunications Company (BTC) Carlyle Roberts stressed the importance for business owners to have in place a business continuity plan in the event that a natural disaster s...
 
 
Commonwealth Bank’s total assets top $1.6 billion
Amid a challenged economy, Commonwealth Bank Limited's total assets increased to over $1.6 billion last year while the bank maintained an impaired loan ratio below industry average, according to a press statement. The statement pointed out that the ...
 
 
Sumner: Lion’s share of govt budget should go to entrepreneurial development
If entrepreneurship is nurtured in this country, The Bahamas’ economy could experience a turnaround in three to five years, CEO of the Bahamas Chamber of Commerce and Employers' Confederation (BCCEC) Edison Sumner told Guardian Business recently. ...
 
 
ZONTA training for unemployed women gets unprecedented interest
The Zonta Club of New Providence (ZCNP) has gotten an unprecedented number of applications for its fourth annual Workforce Readiness Program dedicated to unemployed women, receiving nearly 100 submissions for the three-week job training program. Sta...
 
 
WSC reintroduces 50% savings for new and returning customers
Following the tremendous success of the Water and Sewerage Corporation’s (WSC) “Make the Switch” and “Ditch the Well” campaigns, which saw hundreds of customers resume service or start new services with the corporation, WSC has reintroduced...
 
 
Mitchell: GB at rock bottom, needs cash injection
Progressive Liberal Party (PLP) Senator Fred Mitchell warned yesterday that Grand Bahama has reached “rock bottom” and is in need of an injection of money to keep the island’s economy afloat. Prime Minister Dr. Hubert Minnis revealed last week...
 
 
Sands: Contractors act could help curb foreign work permits by at least 50%
President of the Bahamian Contractors Association (BCA) Leonard Sands said the Construction Contractors Act could help to slash the number of work permits granted to foreign workers for construction projects in The Bahamas by at least 50 percent. Sp...
 
 
Government’s shareholding in Aliv, BTC complicates regulation, says URCA CEO
CEO of the Utilities Regulation and Competition Authority (URCA) Stephen Bereaux lauded the government’s announcement to sell its shares in Bahamas Telecommunications Company (BTC) and Aliv to Bahamians, adding that the government’s stake in both...
 
 
Atlantis to sign deals for local restaurants at Marina Village
Atlantis could have deals signed by the end of the month to have several Bahamian owned and operated restaurants occupy spaces at its iconic Marnia Village pedestrian promenade, Guardian Business understands. Meantime, Harbour Island restaurant Sip...
 
 
Bahamas Waste launches social media competition to recognize garbage technicians
If cleanliness is indeed next to Godliness, then the hardworking garbage technicians at Bahamas Waste are closer to heaven than any of us. Since its inception, Bahamas Waste has made leaps and bounds in addressing key waste management needs for resi...
 
 
Government hosts recreational fisheries workshop
The Ministry of Agriculture & Fisheries recently opened a recreational fisheries workshop at the Bahamas Agricultural and Industrial Corporation’s (BAIC) headquarters, comprising 30 experts from 12 Caribbean countries. It was the sixth meeting ...
 
 
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