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Business

 
Bahamas on bilateral approach: We have made our choice
Minister of Financial Services Hope Strachan said it was a genuine alternative – offered by the Organisation of Economic Cooperation and Development (OECD) – to implement the bilateral approach and a 2018 implementation date. The bilateral appro...
 
 
World Bank: Decouple economic growth from environmental decline
In the new study “Toward a blue economy: A promise for sustainable growth in the Caribbean”, Dr. Pawan Patil, senior economist in the Agriculture and Environmental Services Department of the World Bank Group (WBG), together with a team of other...
 
 
Louise Cooper Center and scholarship fund paying it forward on Exuma
Chairman and CEO of BAF Global Group I. Chester Cooper recently renamed the company’s Georgetown corporate offices “The Louise Cooper Center”, in honor of his late mother. The event was also the launch pad for the Louise Cooper Scholarship Fun...
 
 
Nassau Conference to focus on competitiveness, include financial services bootcamp
Building on the foundation set by the previous 10 events, the 11th edition of The Nassau Conference is scheduled for Wednesday, September 21, 2016 at the Meliá Nassau Beach resort under the theme “Strengthening our competitiveness”. New this yea...
 
 
Bahamas top luxury destination for second straight year
The Bahamas has been named the Caribbean’s Leading Luxury Destination by the World Travel Awards for the second consecutive year. The Bahamas surpassed Anguilla, Turks and Caicos Islands, Mustique and St. Lucia to win the award. Travel and touris...
 
 
Baha Mar owner announced by end of September
Tourism Director General Joy Jibrilu told a press briefing at the Caribbean Tourism Organization (CTO) State of the Industry Conference in Barbados that the new owner of Baha Mar would be announced by the end of September. “It’s been kept under ...
 
 
NHI spokesman: Primary care ‘beginning of 2017’
Deputy Chief Medical Officer Dr. Delon Brennen says the first phase of National Health Insurance (NHI) – primary care benefits – is expected to roll out in the beginning of 2017. The phase has a tested and validated cost of $100 million by KPMG, ...
 
 
Land registry instead of Quieting Titles Act, BREA president says
President of the Bahamas Real Estate Association (BREA) Carla Sweeting said years of abuse means the controversial Quieting Titles Act needs to be amended, but she said the intent of the law is “honest”. A high-profile case in the Court of Appea...
 
 
Loss of banking relationships, de-risking ‘retarding’ development
The threat of de-risking and the continued loss of correspondent banking relationships are “retarding” regional development and alienating regional economies from international commerce, despite the best collective efforts of international financ...
 
 
Land registry instead of Quieting Titles Act, BREA president says
President of the Bahamas Real Estate Association (BREA) Carla Sweeting said years of abuse means the controversial Quieting Titles Act needs to be amended, but she said the intent of the law is “honest”. A high-profile case in the Court of Appea...
 
 
Smith: Parliament must respect ‘sub judice’ rule
The Committee on Privilege in the House of Assembly could do serious damage to the administration of justice and the rule of law in The Bahamas if it uses hearings scheduled for later this month to air matters currently under consideration by the cou...
 
 
Pyfrom-Symonette passes Series 7
The Nastac Group Limited reports that student Janay Pyfrom-Symonette passed the Series 7 General Securities Registered Representative Course with an above average score with FINRA in the United States. As chief marketing officer and overseer of cust...
 
 
Claims process ‘straightforward’ Smith says
Claims committee Chairman James Smith says the money to pay Baha Mar creditors and former employees is now in a Bahamian bank. Export-Import Bank of China (CEXIM) provided the funds under an agreement made with the government to complete, sell and o...
 
 
‘Blue economy’ worth US$407B in the Caribbean
Caribbean island states and territories generated gross revenues of about US$53 billion directly from the so-called ocean economy in 2012. That figure is equivalent to more than 18 percent of their total GDP that year, and the revenue, according to a...
 
 
National goals threatened by lack of access to development funding
Minister of Foreign Affairs and Immigration Fred Mitchell asserted the need for adequate funding for The Bahamas and other Caribbean states to achieve the 2030 Agenda for Sustainable Development and the Paris Agreement on climate change. He further ...
 
 
NewCo aims to beat rollout deadline
Acting CEO of the Utilities Regulation and Competition Authority (URCA) Stephen Bereaux said it would be more cost effective for NewCo Limited 2015 to complete its rollout obligations sooner rather than later, instead of having its customers roam on ...
 
 
Bahamas to pursue linkages, Cuba as CTO head
The Bahamas has been elected chair of the Caribbean Tourism Organization (CTO). Minister of Tourism Obie Wilchcombe spoke with Guardian Business from Barbados about the election and the direction he plans to take during this, his second stint as cha...
 
 
Regulator: Mobile sector competition ‘necessary’
Acting CEO of the Utilities Regulation and Competition Authority (URCA) Stephen Bereaux said the entrance of competition into the telecommunications market is an “unpleasant” time for the incumbent Bahamas Telecommunications Company (BTC). But B...
 
 
Potter’s Cay redo cost triples to $9M
The cost for the redevelopment of Potter’s Cay Dock has now tripled from $3.1 million to an estimated $9 million, according to Minister of Agriculture V. Alfred Gray. Gray told Guardian Business yesterday that once the estimate is approved, the bi...
 
 
Source: BOB’s $70M market value loss a ‘disaster’
It appears the government has lost $69.7 million in total market value in its shareholding in Bank of The Bahamas (BOB) over the last two weeks. It also appears $45.2 million of that loss was suffered by the National Insurance Board (NIB). Guardian ...
 
 
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