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Construction starts down 36.2%; Sands challenges accuracy of data
Construction starts declined by 36.2 percent in the first quarter of 2017, according to The Central Bank of The Bahamas in its monthly economic report for June. However, President of the Bahamian Contractors’ Association (BCA) Leonard Sands said h...
 
 
Roberts:  Increase in cybercrimes in the last two years
Carlyle Roberts, Bahamas Telecommunications Company’s (BTC) vice president of enterprise and strategic solutions, noted that there has been an increase in cybercrimes in the country in the last two years. Roberts pointed out that many financial se...
 
 
BOB still a going concern with deficit of $94 million
Bank of The Bahamas (BOB) continues to operate as a going concern, with an accumulated deficit of $94 million in 2016, up more than $23 million from 2015, according to the company’s annual report. In June 2015 and 2016, it was found that the ban...
 
 
URCA launches consumer protection consultation
As the independent regulator of the electricity sector in The Bahamas, the Utilities Regulation and Competition Authority (URCA) has initiated its public consultation process on the Bahamas Power and Light Company Ltd.’s (BPL) consumer protection p...
 
 
Albany boss: Biggest gift from govt is ‘being left alone’
Albany asked the present government Tuesday, like the previous governments, to leave the development alone and allow it to get on with its business. Managing Partner Christopher Anand was direct with members of the Free National Movement government ...
 
 
Bahamian woman among scholarship winners for upcoming entrepreneurship retreat
A Bahamian businesswoman was among three who received The Woman Behind The Business Retreat Scholarship this week, giving her access to successful businesswomen from the United States. A press release announcing the scholarship recipients revealed T...
 
 
Leonard: If govt buys Lucayan stake, it should exit deal ‘as soon as possible’
Attorney Carey Leonard asserted that the government should sell its equity stake in the Grand Lucayan “as soon as possible”, if it decides to follow through with partial ownership of the resort. Last week, Prime Minister Dr. Hubert Minnis announ...
 
 
Banks’ bad debt provisioning up $25.4 million
Banks increased debt provisions by over $26 million last month, according to The Central Bank of The Bahamas’ (CBOB) monthly economic report for June. The report states that credit quality for banks improved “moderately” last month. But despi...
 
 
Fuel charge on power bills up 66.4 percent
The Central Bank of The Bahamas’ (CBOB) monthly economic report for June revealed that household energy costs have soared, with an over 60 percent increase in Bahamas Power and Light’s (BPL) fuel charge year-on-year. “Bahamas Power and Light...
 
 
Albany investing in Baha Mar
“The right people bought Baha Mar, in my opinion,” said Managing Partner of Albany Christopher Anand, announcing that Albany’s parent company, Nexus Luxury Collection, will be investing in a “day club” (nightclub in the daytime) at Baha M...
 
 
Billion-dollar development wants NP’s electricity issues fixed
Billion-dollar development Albany is insisting that government fix New Providence’s power woes as soon as possible. Its Managing Partner Christopher Anand told members of Parliament and Prime Minister Dr. Hubert Minnis during a tour of the resort, ...
 
 
Grand Bahama air arrivals down 40 percent
The year is off to an even grimmer start for Grand Bahama, as first quarter results for this year’s tourism performance revealed that the island suffered an over 40 percent decline in air arrivals. Grand Bahama suffered a near 17 percent decline i...
 
 
Increased government spending during first ten months of previous fiscal year
The former government increased spending by $93.7 million during the first ten months of the previous fiscal year. The Central Bank of The Bahamas’ (CBOB) monthly economic report for June 2017 revealed that the fiscal deficit stood at $284.7 milli...
 
 
Atlantis, Colorado face off over ‘Come to Life’ slogan
The Atlantis resort is being accused of usurping Colorado’s five-year-old “Come to Life” tourism campaign. The slogan was not trademarked. An article on Denver, Colorado-based news website westword.com revealed that Cathy Ritter of the Colorad...
 
 
D’Aguilar: Govt will financially support tourism-based start-ups
The Bahamas is attempting to encourage young entrepreneurs to build out the country’s tourism product, Minister of Tourism Dionisio D’Aguilar said recently, adding that the government is committed to providing financial support for such ventures....
 
 
Pharmaceutical association raises concerns following appointment of Bahamas Pharmacy Council chair
The Bahamas Pharmaceutical Association (BPA) has expressed serious concerns about the recent appointment of the chairperson of the Bahamas Pharmacy Council, calling for the selected person in the position to be strongly reconsidered. However, Ministe...
 
 
Sealy: With NHI fee schedule, a number of data points have to be looked at
CEO of Doctors Hospital Charles Sealy said changes to the fee schedule under National Health Insurance (NHI) for physicians would allow the government and the NHI Authority to gain information that would help to better craft the scheme’s rollout. ...
 
 
Bahamas wants 15% increase in African American travel
The Bahamas wants to see a 15 percent increase in African Americans travelling to the archipelago in the short term, Tourism Minister Dionisio D’Aguilar said during Black Meetings & Tourism Magazine’s recent Apex Awards. The African American ...
 
 
Health minister encourages healthcare professions to let compassion be at root of their service
Minister of Health Dr. Duane Sands encouraged the health professionals working in the public health sector to care and show compassion for their patients. “When compassion and care are at the root of our service, then the race, religion, social or...
 
 
Govt ministers, parliamentarians hold meetings with GB Shipyard execs
FREEPORT, Grand Bahama - An invitation to a number of parliamentary officials to visit Grand Bahama Shipyard came at a time when the government of The Bahamas was preparing to conduct a business seminar for commercial entities interested in offering ...
 
 
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