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Business

 
Bowe: Govt needs to be mature in its replies to foreign investors
Government has to be more mature in its replies to foreign investors or do not reply at all, Bahamas Chamber of Commerce and Employers’ Confederation (BCCEC) Chairman Gowon Bowe explained yesterday, insisting that its commentary travels far beyond ...
 
 
Reinsurance inflows to outpace traditional financing in construction sector
Reinsurance inflows as a result of Hurricane Matthew will “significantly outpace” traditional financing for domestic building activities, according to The Central Bank of The Bahamas’ Quarterly Economic Review for December 2016. The constructi...
 
 
Damianos Sotheby’s International Realty’s top producing agent taking part in ONE Summit
Damianos Sotheby’s International Realty’s top producing agent, Nick Damianos, has been invited to take part in a distinguished panel of elite performers at the highly anticipated ONE Summit in Miami, FL. The exclusive event for Sotheby’s Inter...
 
 
Debt-to-GDP ratio up to 87.4 percent
Government spending for just the second quarter of the current fiscal year expanded to $629.7 million, according to the Central Bank’s December quarterly economic review report. In addition, the country’s estimated debt-to-GDP ratio for total pub...
 
 
Insurance claims post-Hurricane Matthew $176M with only 50 to 60 percent reported
An initial but incomplete submission of insurance claims incurred post-Hurricane Matthew totaled over $176 million as at December 31, 2016, with only 50 to 60 percent of claims incurred reported to Chairman of the Bahamas Insurance Association (BIA) ...
 
 
Many companies subject to spying through open IP addresses
Open cameras at several businesses across the country showed cashiers sitting in cages. Some cameras showed perimeter fencing and were outfitted with ultraviolet technology. Another open IP (Internet protocol) address allowed a user to fiddle with vo...
 
 
New speed camera system can boost govt revenue and save lives
A speed camera being beta tested in western New Providence reported 25,000 speed infractions in a little more than one month. Intelligent Enforcement Ltd.’s (IntelEnforce) principal, Donovan Paul, told Guardian Business yesterday that if a $40 fin...
 
 
Tiger Woods teams up with Jack’s Bay Developers on luxury golf resort
Jack’s Bay Developers, Beacon Land Development, and TGR Design have announced the development of Jack’s Bay, a premier destination for paradise property and a private club in The Bahamas. Jack’s Bay is located in Rock Sound on the island of El...
 
 
BTC’s restoration in GB expected to be 99% by end of the month
FREEPORT, Grand Bahama – In October of 2016, Hurricane Matthew ripped through The Bahamas as a very large and dangerous Category 4 system, bringing with it heavy rains and high winds, which downed power lines, uprooted trees, flooded low lying area...
 
 
170 begin dealer training at Baha Mar Casino
Baha Mar began the first day of dealer training at Baha Mar Casino yesterday with 170 employees participating, as the resort prepares to open its doors in less than 40 days. According to a statement released by Baha Mar, all of the recently-hired ca...
 
 
Bahamas Carnival launches, but scaled back to meet budget
Bahamas Junkanoo Carnival was officially launched last Friday, with the Bahamas National Festival Commission (BNFC) committing to its mandate to hold the annual festival amid controversy surrounding its spending over the last two years. BNFC CEO and...
 
 
Road Fever bands still seeking government funding for carnival
With only 54 days left before Road Fever bands hit the road in their carnival costumes, the Bahamas Carnival Band Owners Association (BCBOA) is still hoping some money in the government’s $5 million budget has been allocated for them to market them...
 
 
Young entrepreneur launches new online marketplace
A young entrepreneur launched a new, free classifieds website yesterday that he hopes will revolutionize this niche market in The Bahamas. The website – we242.com – is an online marketplace that makes finding products being offered locally much ...
 
 
Solomon’s donation adds to book count at Sir Jack Hayward Adult Library
FREEPORT, Grand Bahama, — In an effort to grow the current book selection at the Sir Jack Hayward Adult Library in Grand Bahama, Solomon’s recently made a cash donation to provide one month’s supply of reading materials. Renea Bastian, vice pr...
 
 
Lyford Cay Sotheby’s International Realty launches newly-redesigned website
Lyford Cay Sotheby’s International Realty has announced the launch of its newly redesigned website, SIRlyfordcay.com, which was built to showcase listings in an immersive and visual way, unique to the real estate industry. The website design inclu...
 
 
CCA: The Pointe phase two will usher in redevelopment of downtown
The Pointe broke ground on Saturday on the second phase of its $250 million condo/hotel development that executives say will usher in the redevelopment of Downtown Nassau. President of China Construction America (CCA) Ning Yuan said his company is c...
 
 
Clarity needed on number of gaming houses operators are allowed to have, says Flowers
While expressing his satisfaction over the 10-year moratorium on the web shop industry, CEO of FML Group of Companies Craig Flowers raised concerns over the number of gaming houses each operator is allowed to have and how a decision on that may have ...
 
 
Turnquest blasts government’s spending
In an attempt to lament the government’s spending, Deputy Leader of the Free National Movement (FNM) Peter Turnquest compared Prime Minister Perry Christie’s spending habits to those of Roman Emperor Caligula. “Caligula’s reckless spending t...
 
 
Baha Mar reveals executives who will run casino
Attorney General Allyson Maynard-Gibson said Saturday that Baha Mar's slot machines are on the dock and ready to be installed, while Baha Mar yesterday announced the names of the two executives who will run the casino operations. In a press statemen...
 
 
Island Luck to offer shares to public
Bahamians might soon be able to own a piece of Island Luck as the company works towards releasing an initial public offering (IPO) as early as May. The company’s CEO Sebas Bastian said yesterday that he is awaiting confirmation on just how many sh...
 
 
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