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Business

 
D’Aguilar defends FNM government on budget
Minister of Tourism and Aviation Dionisio D'Aguilar yesterday defended the government's decision to present the budget of the former government, saying the country's 2017/2018 budget was largely prepared by the civil service and the Ministry of Finan...
 
 
BTC raises awareness of securities solutions
Bahamas Telecommunications Company (BTC) recently participated in the 27th annual Conference of Regional Central Banks’ Information Systems Specialists. Over 250 participants attended the conference from both private and commercial banks. BTC Vice...
 
 
Baha Mar international marketing campaign at year-end
Baha Mar’s much-awaited international marketing campaign will begin in earnest near the end of the year, the resort’s Senior Vice President of Administration and External Affairs Robert “Sandy” Sands told Guardian Business yesterday. Sands s...
 
 
Govt borrowing could reach ‘point of no return’, says BCCEC chairman
On the heels of the new Free National Movement (FNM) government announcing it would have to borrow $722 million, outgoing Chairman of the Bahamas Chamber of Commerce and Employers’ Confederation (BCCEC) Gowon Bowe said borrowing could come to a poi...
 
 
Sands clarifies Baha Mar occupancy issue
Baha Mar Senior Vice President for Administration and External Affairs Robert “Sandy” Sands told Guardian Business yesterday that the mega-resort’s 25 percent occupancy level mentioned by Tourism and Aviation Minister Dionisio D’Aguilar repre...
 
 
Carey: Bahamas needs U.S. to ‘pull its weight’ on climate change
Bahamas National Trust (BNT) Executive Director Eric Carey has warned that countries most vulnerable to the adverse impact of continued sea level rise, such as The Bahamas, could be “worse off” if the U.S. does not “pull its weight” in terms ...
 
 
$1 million in SME support, investment promotions unit proposed for GB
FREEPORT, Grand Bahama — It is proposed by the Office of the Prime Minister that Grand Bahama will receive $1 million of support for its small and medium-sized businesses, said Minister of State for Grand Bahama Kwasi Thompson during the Grand Baha...
 
 
Sandals Emerald Bay lauds team members and community stalwarts
Last month Sandals Emerald Bay held its seventh annual Prestige Awards under the theme “#brandnewu” honoring team members and members of the Exuma community for their exceptional efforts in the hospitality industry. The gala event resembled the E...
 
 
FNM govt pledges percentage of VAT money to national debt
The Free National Movement (FNM) government pledged yesterday to allot a certain percentage of the revenue from value-added tax (VAT) to pay down the country’s national debt. This was what VAT was originally imposed for, but it never happened, desp...
 
 
Turnquest: Hard to say if Moody’s would further downgrade
Minister of Finance Peter Turnquest said it is “hard to say” whether or not international credit ratings agency Moody’s would downgrade The Bahamas’ sovereign credit rating following its recent projection that the fiscal outlook for the count...
 
 
Govt inherited over $150M in collateral calls, reveals finance minister
Minister of Finance Peter Turnquest yesterday revealed that the new government inherited collateral calls in excess of $150 million and is now faced with the obligation to pay a minimum of $70 million by the first week of July. The call amount, whic...
 
 
Stellar CEO: PAHO report proves Wells signed LOI for right reasons
Stellar Energy Chief Operating Officer J.P. Michielsen told reporters yesterday that a recent Pan American Health Organization (PAHO) report on the New Providence Landfill proves that Bamboo Town MP Renward Wells, during his stint as parliamentary se...
 
 
Minister of tourism working on ‘intervention’ for Bahamasair
The Free National Movement (FNM) government’s decision to repay principal payments for Bahamasair’s French-manufactured planes may come at an additional cost of $35 million, according to Minister of Finance Peter Turnquest. During the budget deb...
 
 
Even more options for BTC business customers
Bahamas Telecommunications Company (BTC) continues to be a trailblazer in the communications market, providing a suite of landline, mobile, broadband and television services. The company has introduced even more options for business customers. The B...
 
 
Tourism minister reveals NAD’s credit rating downgraded
Minister of Tourism and Aviation Dionisio D’Aguilar revealed yesterday that Nassau Airport Development Company’s (NAD) credit rating has been downgraded. While NAD’s credit rating downgrade has never been officially announced, D’Aguilar brok...
 
 
Moody’s projects ‘significantly worse’ fiscal outlook
International credit ratings agency Moody’s had accounted for the “slippage” Hurricane Matthew caused the Bahamian government in its last assessment, but the ratings giant was still taken aback by the new government’s discovery of fiscal bedl...
 
 
IPSI market ready, but still awaiting URCA response
IP Solutions International, Ltd. (IPSI) continues to wait on a response from the Utilities Regulation and Competition Authority (URCA) after having effectively completed its interconnection with Bahamas Telecommunications Company (BTC). Information ...
 
 
Central Bank: Non-performing loans up nearly $12 mil. in April
Non-performing loans (NPLs) increased by nearly $12 million for the month of April, according to The Central Bank of The Bahamas (CBOB). In its monthly economic report released this month, the regulator said banks’ credit quality indicators declin...
 
 
GBPA/Itel-BPO partnership strengthening Freeport’s ICT sector
FREEPORT, Grand Bahama – The call center industry on Grand Bahama continues to make significant strides as a new sector for growth in the island’s economy. This, however, has not come without a strategic and concerted effort by key stakeholders, ...
 
 
Sands: More info needed on $30 million sidewalk construction allocation
Bahamian Contractors Association (BCA) President Leonard Sands asserted the need for verification regarding the revelation that $30 million was spent by the former government on sidewalk construction. Last week, Minister of Finance Peter Turnquest r...
 
 
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