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Business

 
Colina Holdings reports strong mid-year financial results
Colina Holdings Bahamas Limited (CHBL) is reporting "strong" mid-year financial results "reflecting a continued positive trajectory for 2017". In a press statement released last week, CHBL reported total net income for the first half of 2017, ending...
 
 
Marked increase in debit, credit card transactions
The Central Bank of The Bahamas (CBOB) noted, in its Financial Stability Report for December 2016, a marked increase in the use of debit and credit cards, though it noted cash and checks remain important modes of payment in this country. CBOB called...
 
 
New legislation discussed at financial services industry forum
The Securities Commission of The Bahamas told financial and corporate service providers about its progress in overhauling the legislation governing the sector at a well-attended industry briefing recently. The briefing was held at the British Coloni...
 
 
BTC’s mobile subscriber base down by 24,000
The Bahamas Telecommunications Company (BTC) has suffered a loss of 24,000 mobile subscribers since mobile competitor BeAliv Ltd. entered The Bahamas’ telecoms market last year in November, according to second quarter financial results released by ...
 
 
Bahamas informal sector 20%-30% of total economic activity, notes IDB
A recent study by the Inter-American Development Bank (IDB) estimated the size of The Bahamas’ informal sector at 20 to 30 percent of total economic activity. The research paper titled, “Estimating the size of the informal economy in Caribbean s...
 
 
D’Aguilar: Average spend per visitor too low
The Bahamas’ tourism industry has a “problem, and we have to figure out how to fix that problem”, Minister of Tourism Dionisio D’Aguilar told a room full of tourism stakeholders yesterday. They all agreed that the product is headed for troubl...
 
 
Bahamas signs tax collection MOU with Airbnb
The Bahamas signed a memorandum of understanding with vacation home rental giant Airbnb yesterday, that will see Bahamians who rent their homes and rooms on the site, paying some sort of tax on their accommodations. Minister of Tourism Dionisio D’...
 
 
Hill: BPL not part of talks between former govt, New Fortress Energy
Bahamas Power and Light (BPL) CEO Pamela Hill explained yesterday that she could not comment on negotiations between the former government and New Fortress Energy because the deal was not one “BPL had led or was engaged in”. The former Progressi...
 
 
D’Aguilar: Ministry of Tourism layoffs freed up crucial marketing dollars
The Ministry of Tourism’s recent employee “restructuring” means the government has been able to free up money for marketing strategies that would have gone to payroll. Minister of Tourism Dionisio D’Aguilar told reporters yesterday that tour...
 
 
Rented generation vital until build-out of new BPL capacity
New Providence hit two record peak demand periods this summer, according to Bahamas Power and Light (BPL) CEO Pamela Hill, who explained that the island continues to have generation issues due to the power company’s aging engines, despite the compa...
 
 
Outages and billing concerns addressed in BPL consumer protection plan
Director of Utilities and Energy at the Utilities Regulation and Competition Authority (URCA) Shevonn Cambridge said the regulator will be conducting a series of public meetings on various Family Islands in an effort to educate consumers about the in...
 
 
Meetings-based website touting Baha Mar as new convention mecca
Meetings and conventions website Successfulmeetings.com is touting the meetings, incentives, conventions and exhibitions (MICE) prowess of the Grand Hyatt Baha Mar, saying it has “moved” The Bahamas “to the top of many planners' lists of Caribb...
 
 
Exuma farmers want greater role in reducing food imports
With The Bahamas having one of the highest import bills in the Caribbean, Chairman of the Exuma Farmers Association Patrick Dwyer said farmers on that island would like to play a part in helping to reduce the significant amount of food imports coming...
 
 
All eyes on Bahamas as conch stocks decline in Florida
The Bahamas is being looked at as the proverbial “final frontier” for conch, according to a Miami Herald article that says scientists are looking to these waters for the answers on the depletion of conch stocks, while looking for the answer to br...
 
 
Financial services sector deserves good regulation for continued growth
NASSAU, The Bahamas – Deputy Prime Minister and Minister of Finance Peter Turnquest said considering the opportunities the financial services sector provides for Bahamians to be business owners or to gain meaningful employment, and the role that fi...
 
 
Tourism minister laments drop in stopover visitors to GB
Minister of Tourism Dionisio D’Aguilar pointed out that the “most painful” part of Grand Bahama’s decline in air arrivals was its loss in stopover visitors, which contributes significantly to the island’s economy. Speaking with Guardian Bu...
 
 
Fewer passengers getting off cruise ships in Nassau
Fewer cruise passengers are getting off the cruise ships in Nassau - one of the Caribbean's busiest cruise ports - the Florida Caribbean Cruise Association (FCCA) told Minister of Tourism Dionisio D'Aguilar yesterday. He suggested it was a testament ...
 
 
Farmer: Bahamas should consider timetable for electric cars switch
Countries around the world have started announcing dates on which sales of new gasoline and diesel cars would cease; proponents of the electric car “movement” agree that The Bahamas should start making steps in the same direction. Pia Farmer, ow...
 
 
Campbell: Proposed traffic system deserves discussion to ‘weigh benefits to society’
According to Minister of Transportation Frankie Campbell, a recently proposed road safety enforcement system deserves "discussion to weigh the benefits to society". He noted that such a system could garner a return on investment for government in jus...
 
 
$166 million of BOB’s bad loans to go to Resolve
Bank of The Bahamas (BOB) has turned once again to Bahamas Resolve Ltd. to shed toxic loans. It was announced at the bank’s annual general meeting (AGM) Wednesday night that $166 million would go to Resolve, as the bank continues to try to slow its...
 
 
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