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Business

 
Sunwing laments ‘lack of cooperation’ in negotiations with Hutchison Whampoa
While Sunwing Travel Group’s frustrations remain high with former landlord Hutchison Whampoa after Sunwing pulled out as the operator for Memories Grand Bahama, the company remains committed to operating on the island. With Memories no longer oper...
 
 
Details of public-private partnership for new Road Traffic Dept. HQ revealed
The Road Traffic Department (RTD) will remain at its temporary location at the Thomas A. Robinson National Stadium until the $24.5 million project to create a new headquarters for the department is completed at the end of 2018. The project to create...
 
 
Concerns raised after CTFE president suggests Baha Mar deal has yet to close
Yesterday concerns were again raised over the sealed agreement made by government with Chow Tai Fook Enterprises (CTFE) regarding the sale of Baha Mar, after CTFE President Graeme Davis suggested to international media during a tour of the resort on ...
 
 
Davis: Between 200 and 500 rooms to open at Baha Mar by April 21
Chow Tai Fook Enterprises (CTFE) President Graeme Davis, speaking to local and international media at the Caribbean Hotel Tourism Association's Caribbean Marketplace, being held at Atlantis yesterday, said the Baha Mar resort's two largest towers, wh...
 
 
Heads of agreement for The Pointe tabled
Government tabled the heads of agreement for the $200 million The Pointe development yesterday, revealing it would be granting between 400 and 500 work permits for foreign labor and requiring 70 percent Bahamian labor on the project. The issuance of...
 
 
Key hotel properties on Paradise Island to close for renovations
Key properties on Paradise Island will soon close for renovations, and others closed previously for renovations will remain closed until summer, Director General of Tourism Joy Jibrilu revealed yesterday. Speaking at a press conference at the Caribb...
 
 
Economist criticizes govt on inability to reduce fiscal deficit despite VAT
Group Economist for RBC’s Caribbean Operations Marla Dukharan made it clear yesterday that she was disappointed in the government’s inability to reduce the fiscal deficit, despite the collection of over $1 billion in value-added tax (VAT). Dukha...
 
 
Gomez: Consumer Protection Policy draft to be distributed to stakeholders
The business atmosphere in The Bahamas is set to change drastically with the introduction of a Consumer Protection Policy, which will be introduced in draft form within the next 60 days, according to Chairman of the Consumer Protection Commission (CP...
 
 
Visitor arrivals up in 2016, buoyed by sea component
From January to October 2016, visitor arrivals to The Bahamas expanded by 2.6 percent to 5 million, underpinned by improved sea arrivals, according to The Central Bank of The Bahamas’ (CBOB) Monthly Economic and Financial Developments (MEFD) report...
 
 
Strachan: Strides made in developing strong national quality infrastructure
The Bahamas will be another important step closer to implementing the Economic Partnership Agreement (EPA) signed in October 2008 with the European Union (EU), when the country’s first-ever National Quality Policy is ratified. Speaking at the Baha...
 
 
Fiscal deficit up to 75.3 percent
With government spending on the rise, the fiscal deficit has risen to 75.3 percent in just the first four months of the current 2016/2017 fiscal year. To date, the Christie administration has collected over $1 billion in value-added tax (VAT). Total...
 
 
Halkitis outlines pros and cons of Fiscal Responsibility Act
Minister of State for Finance Michael Halkitis gave no assurances yesterday that the government would implement a Fiscal Responsibility Act (FRA), and argued that its implementation could leave the government’s hands tied in certain circumstances, ...
 
 
Scotiabank consolidating back office support and collections
Almost two years after closing several branches throughout The Bahamas, Scotiabank is undergoing another restructuring that could mean the loss of some jobs within the “back office support and collections” areas of the bank, Guardian Business und...
 
 
Smith outlines impact of foreign direct investment decline
Former Minister of State for Finance James Smith explained to Guardian Business yesterday the importance of foreign direct investment (FDI) and how its decline in the past four years has led to an increase in foreign debt. The inflow of FDI has slum...
 
 
Fulbright scholar’s study looks at food security on Eleuthera
A Fulbright scholar is attempting to discover the challenges the island of Eleuthera, in particular, and The Bahamas in general, have with food security and its connection to the health of the nation’s population. Allison Karpyn, who is on a two-y...
 
 
Bahamas, U.S. sign $11.8M AUTEC agreement
The Bahamas and the United States yesterday renewed an agreement for the Americans to continue to operate the AUTEC (Atlantic Undersea Test and Evaluation Center) base in Andros, in an $11.8 million rental agreement. The new agreement includes a fou...
 
 
Bahamas forms historic Wedding Council
PLANTATION, Florida - Tourism executives for the Islands of The Bahamas came together recently at the Renaissance Hotel in Plantation, Florida to form the Bahamas Wedding Council. The group, believed to be the first of its kind for the Caribbean, is ...
 
 
Matterport: The future of real estate
It has long been known that photographs help sell a property. They are often the first glimpse of a space that people who are beginning the search for a home or commercial property will have. However, there is a new technology that is taking real est...
 
 
NPL provides assistance to Great Commission Ministries International
In 2016, New Providence Life (NPL) shared the loving and giving spirit of its employees by pledging to help support Great Commission Ministries International (GCMI). GCMI is a charity whose mission is to bring reconciliation, restoration and hope to ...
 
 
KPMG stands ‘firmly’ behind economic assessment report
Despite a wave of criticism over KPMG's economic assessment report on National Health Insurance (NHI), the accounting firm told Guardian Business in a statement yesterday that it stands "firmly" behind the report's conclusions and welcomes "construct...
 
 
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