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Business

 
Tax receipts up; deficit also increases
Tax receipts for the first three months of the 2016/2017 fiscal year stood at $398.6 million, according to The Central Bank of The Bahamas. Meanwhile, the deficit during the period increased to $86 million, relative to the comparable period last year...
 
 
BPL explains high November electricity bills
Bahamas Power and Light (BPL) released a statement late yesterday afternoon explaining that customers may have experienced higher-than-normal bills for November because October’s billing period was comprised of estimates based on historical data....
 
 
URCA to receive BPL report on electricity bills next week
Bahamas Power and Light (BPL) owes the public answers regarding high electricity bills post Hurricane Matthew, and that report is due to the Utilities Regulation and Competition Authority (URCA) imminently, according to the regulator’s acting CEO S...
 
 
Stellar Energy CEO laments impact of high energy costs on businesses
High energy bills are taking a toll on the cost of doing business in The Bahamas, according to CEO of Stellar Energy J.P. Michielsen. When fixed costs for businesses are higher, they have less money to spend on other areas of business, such as train...
 
 
Attorneys published in International Franchising 2016
Higgs & Johnson has announced the publication of the first edition of “International Franchising 2016: Legal and Business Considerations”, a comprehensive reference guide for lawyers, business people and academics to use in navigating the leg...
 
 
Aliv boasts ‘thousands’ of subscribers as it eyes GB launch
Aliv is boasting “thousands” of subscribers after a flurry of interest in its first four days as the country’s newest mobile provider, according to Damian Blackburn, CEO of NewCo, which operates the Aliv brand. The company is eyeing its next bi...
 
 
Source: Contractors back to work at Baha Mar
Contractors are back to work at the Baha Mar development, according to a source close to the issue. The movement back to the stalled site is being done in an “organized and controlled” manner, said the source. There has been much speculation ove...
 
 
Smith: 70 percent of Baha Mar’s Bahamian claims settled by end of November
Baha Mar Claims Committee Chairman James Smith said roughly 70 percent of the legitimate Bahamian claims will be settled by the end of November. In addition, Smith told Guardian Business yesterday that payments to those creditors owed more than $500...
 
 
Time for building code to be updated and properly enforced, stresses engineer
A board member of the Bahamas Society of Engineers explained why he thinks certain aspects of the building code should be revisited and properly enforced in light of Hurricane Matthew. Speaking with Guardian Business, engineer Quintin Knowles said, ...
 
 
Treasure Bay Casino wrapping up negotiations on rebranding
Seven years after taking over operations from the former Isle of Capri Casino, Treasure Bay Casino in Freeport, Grand Bahama, is wrapping up negotiations to rebrand the casino. Tourism Minister Obie Wilchcombe confirmed with Guardian Business yester...
 
 
BTC adds value to its mobile product and looks ahead at 5G
Bahamas Telecommunications Company (BTC) has provided mobile services throughout the length and breadth of the country for almost 20 years now. Throughout the evolution of technology, the company has always ensured that the Bahamian people remain on ...
 
 
Central Bank outlines anti-money laundering, counter-terrorism financing deficiencies
There continues to be a string of deficiencies surrounding anti-money laundering (AML) and counter-terrorism financing (CTF) for some financial institutions. The Central Bank of The Bahamas (CBOB) asserted that given the global mandate for tax trans...
 
 
Young entrepreneur laments lack of funding for businesses during march
During the ‘We March Bahamas’ protest, a young female entrepreneur seized the opportunity to voice her concerns over access to funding for entrepreneurs and artists in The Bahamas. Santina Mckinney, 28, was one of the 1,000-plus protestors that ...
 
 
Strachan touts benefits of value-added trade strategy for The Bahamas
The Bahamas’ promotion of a value-added trade strategy would not only create trading opportunities for the exportation of Bahamian products and/or services, but could ultimately help to reduce the country’s trade deficit. Minister of Financial S...
 
 
ILO: Violence, harassment in the workplace taking its toll on women
According to the International Labor Organization (ILO), violence and harassment may prevent women from entering the labor market, especially in male-dominated sectors and jobs, and remaining therein. Director-General of the ILO Guy Ryder said in a ...
 
 
Black Friday bonanza for BTC customers
Over 3,000 customers flocked to the Bahamas Telecommunications Company’s (BTC) retail store in Southwest Plaza last Friday for the company’s first ever Black Friday sale. The sale was in response to customers who in a recent survey, asked when t...
 
 
NUA celebrates golden anniversary
NUA Insurance Agents and Brokers Ltd., an authorized agent of Bahamas First, reached a significant milestone recently, as the company celebrated its 50th anniversary. Company executives along with current and former staff members and invited guests ...
 
 
Govt concludes NHI request for proposals process
As the implementation date for National Health Insurance (NHI) approaches, the government is one step closer in its progress towards universal healthcare with the closure of receiving bids for a private firm to manage the public insurer related to NH...
 
 
Rubis executive explains factors influencing oil prices
Rubis Managing Director for The Bahamas and Turks & Caicos Gordon Craig explained why gas prices in The Bahamas tend to increase as the winter season approaches. Speaking with Guardian Business yesterday, Craig said although it is not unusual fo...
 
 
Several groups interested in eighth gaming license, says Wilchcombe
Tourism Minister Obie Wilchcombe, who has Cabinet responsibility for gaming, revealed that several groups have registered their interest in obtaining an eight license to operate a gaming house. However, there appears to be a concern from incumbent w...
 
 
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