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Business

 
Security forces cite ‘no guarantees and no security’ on NHI offer
The Bahamas’ security forces are unhappy with what could be offered to them when National Health Insurance (NHI) becomes a reality, saying what has been presented to them is marred with “no guarantees and no security”. The security forces, whi...
 
 
BTC grants tower sharing to second mobile provider
Bahamas Telecommunications Company (BTC) made it official yesterday, signing an agreement enabling the country’s second mobile provider access to over one hundred mobile sites on its network. BTC’s Chief Executive Officer Leon Williams said, “...
 
 
North Cow Pen Land Limited land owners get relief from court ruling
A ruling recently handed down by the Supreme Court will allow for land held by North Cow Pen Land Limited to be made available to “heirs, assigns, and beneficiaries”, after they have made an application to have the said land formally transferred....
 
 
Damage has already been done, laments Carnival Band Owners Assoc. president
President of the Bahamas Carnival Band Owners Association Dario Tirelli told Guardian Business that, despite the government’s decision to revert Bahamas carnival back to the original dates of May 4–6, financial damage has already been done. Tire...
 
 
Bahamas tops list in VAT efficiency
A new paper has revealed that The Bahamas’ value-added tax (VAT) system has surpassed the region’s average in terms of the tax’s efficiency, suggesting that the country has one of the most successful VAT implementations in the Caribbean. The p...
 
 
Govt in ‘final stages’ of deal with prospective Grand Lucayan buyer
The government is in the “final stages” of completing a deal with a prospective buyer for the Hutchison Whampoa-owned Grand Lucayan resort complex in Grand Bahama. Guardian Business understands the purchaser is Paul Wynn, CEO of Canadian real est...
 
 
Baha Mar owner flexes financial muscle with most expensive diamond purchase
The new owner of Baha Mar, Chow Tai Fook Enterprises (CTFE), flexed its financial muscles Tuesday when the Hong Kong-based conglomerate made the world’s most expensive diamond purchase, further proving its strength as it opens the $4.2 billion reso...
 
 
Paul McWeeney appointed president of Sunshine Insurance
The board of directors of Sunshine Insurance (Agents & Brokers) Ltd., has approved the appointment of Paul J.I. McWeeney to the presidency of the company. On April 3, 2017, he began his first day in the role. The superintendent of insurance has...
 
 
BOB product provides unique benefits for young workers and families
Bank of The Bahamas Limited (BOB) has partnered with a local insurance entity to extend its newest innovative savings product, the Goal Assured Savings Plan, to the Bahamian saver. This innovative, three-year savings plan provides structured savings...
 
 
Resident and investor William Douglass looks to trigger opportunities for South Eleuthera community
ELEUTHERA — A near $200,000 investment in a basketball/volleyball court and rock climbing facility at the Wemyss Bight Primary School by the grandson of the founder of Pan American World Airways is set to create new opportunities for the South Eleu...
 
 
Gaming Board grants casino license to Baha Mar
The Gaming Board yesterday granted Baha Mar New Providence’s second casino license, only three days after its public hearing and just 18 days before the $4.2 billion resort’s soft opening. The license was issued to Sky Warrior Bahamas, a subsidi...
 
 
Researcher: Prices of essential food items up significantly since 2014
Since 2014, the cost of some food items considered “essential to sustain an affordable living” for Bahamians on the lower economic rung has increased, in some cases by 282 percent. In many instances, such items may not be the best commodities to ...
 
 
Sands, Dorsett bump heads on low-cost housing issue
Bahamian Contractors’ Association (BCA) President Leonard Sands argued yesterday that there are not enough low cost housing projects in the country, and therefore contractors follow suit by finding work where it exists in constructing more expensiv...
 
 
Banks’ loan arrears fall year-on-year
A year-on-year analysis by The Central Bank of The Bahamas revealed a contraction in loan arrears, which fell by $199.3 million as compared to 2016, which the bank attributed in small part to the government’s mortgage relief plan. The bank said, ...
 
 
CFAL volunteers help Bahamas Feeding Network distribute meals to the hungry
Every night in The Bahamas, one in eight people goes to bed hungry. As part of its 20th anniversary celebrations, Colina Financial Advisors Limited (CFAL) has given back to the community by donating both time and funds to the Bahamas Feeding Network ...
 
 
Omni Money Transfers celebrates 12th year
Omni Money Transfers celebrates its 12th year anniversary with a $1,200 giveaway for the month of April, as it celebrates 12 years of growth in financial services to the unbanked community in The Bahamas. Omni Money Transfers was the first standalon...
 
 
BTC supports Exuma’s cancer ball
Bahamas Telecommunications Company (BTC) was recently a sponsor of the Exuma Cancer Society’s annual ball. For years, BTC has donated to the Exuma branch of the Cancer Society of The Bahamas to further the island’s events and awareness activities...
 
 
BAMSI's training in post-harvest technology aims to reduce food waste, hunger
The Ministry of Agriculture opened a post-harvest training workshop for 30 participants from various areas in the ministry's departments on March 27, in St. Matthew's Parish Hall on Church Street. A presentation was made by President of the Bahamas ...
 
 
Dump remediation could cost more than $30 mil.
The preliminary cost of remediation at the New Providence Landfill is about $20 million to $30 million, but this amount is expected to increase, Minister of the Environment and Housing Kenred Dorsett revealed yesterday. Dorsett was a guest on the Gu...
 
 
Warwick president: Govt should not change labor laws based on a few ‘difficult’ employers
President of Warwick Hotels and Resorts (WHR) Richard Chiu suggested that the Bahamian government may have, like other governments, fallen into a “trap” by changing labor laws based on one or two “difficult” employers. In an interview with G...
 
 
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