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Business

 
Carey: Trump presidency could mean more luxury property sales
The Donald Trump presidency could boost the sale of luxury properties in The Bahamas, as the incoming president’s plan to cut taxes will increase disposable income for Americans, prominent realtor Mario Carey told Guardian Business recently. Carey...
 
 
Communications service providers, URCA butt heads over QoS regulations
Mobile, fixed-line and Internet service providers are at odds with the Utilities Regulation and Competition Authority (URCA) over its proposed recommendations for quality of service (QoS) regulations and network performance metrics for electronic com...
 
 
Carey: Booming vacation home rentals market a golden opportunity for Bahamians
Government should encourage the development of vacation home rentals advertised on globally renowned websites such as Air BNB as an entrepreneurial endeavor, a prominent realtor told Guardian Business recently. However, the sector needs to be properl...
 
 
Bahamian sand considered for eroding Florida beaches
The U.S. is looking at Bahamian sand as a resource to shore-up Florida's eroding coastline, an Associated Press (AP) story revealed. The story explained that the Water Resources Development Act recently authorized the Army Corps of Engineers “to s...
 
 
IDB touts impact NDP could have on long-term growth
The National Development Plan (NDP) could place the Bahamian economy on a sustainable path for long-term growth once several challenges that the plan outlines are addressed, according to the Inter-American Development Bank’s (IDB) Caribbean Quarter...
 
 
PAHO/WHO: 2016 the year Zika became ‘long-term public health challenge’
According to the Pan American Health Organization/World Health Organization (PAHO/WHO) in a statement published last week, by the end of 2016 there were 175,063 confirmed cases and 532,000 suspected cases of the Zika virus across 48 countries and ter...
 
 
Chamber: Online shopping impacting local merchants
Courier businesses experienced a spike in sales this holiday season, as many individuals rushed to catch sales and last-minute deals while shopping online, according to CEO of the Bahamas Chamber of Commerce and Employers’ Confederation (BCCEC) Edi...
 
 
Alex Storr: BMC arrears impacts insurance payouts
Bahamas Mortgage Corporation (BMC) Chairman Alex Storr explained yesterday that customers who are in arrears with their mortgages will not directly receive payouts sent by their insurance company to repair damage incurred following the passage of Hur...
 
 
Carey: Real estate market recovering after recession
The real estate market is continuing to recover after the recession of 2008 and 2009, though properties remain 20 to 30 percent below market value, according to owner of Mario Carey Realty, Mario Carey. Speaking to Guardian Business at the opening o...
 
 
Bad saving habits huge factor in real estate market, says Pantry
The notoriously bad saving habits of Bahamians is a huge factor restricting them from participating in this country's real estate market, Royal Bank of Canada's (RBC) Vice President of Business Development for the Northern Caribbean Robert Pantry, sa...
 
 
Popeyes opens second location on Carmichael Road
Nearly one year after introducing the Popeyes Louisiana Kitchen franchise to The Bahamas with the opening of its flagship restaurant in Prince Charles, Popeyes has opened its second location on Carmichael Road. The site, which sports a dual drive th...
 
 
Ministry of Foreign Affairs dispels devaluation rumors
In the wake of the downgrade of The Bahamas’ sovereign credit rating by Standard and Poor’s (S&P), the Ministry of Foreign Affairs has been forced to dispel rumors that this country’s currency has been devalued, after a purported receipt fr...
 
 
Minnis touts FNM’s economic plan for The Bahamas
The Free National Movement (FNM) has an economic plan for The Bahamas that is currently being finalized, FNM Leader Dr. Hubert Minnis told Guardian Business yesterday, though the plan may not be made available to the public right away. Minnis sugges...
 
 
URCA developing disaster preparedness plan focused on ICT sector
The Utilities Regulation and Competition Authority (URCA) will step in to provide disaster relief by developing a disaster preparedness and management initiative for the information and communications technology (ICT) sector in The Bahamas. Natural ...
 
 
No date yet for Memories Grand Bahama reopening
Memories Grand Bahama, a major hotel on that island with room inventory of almost 500, has now been closed for eleven weeks and its managing company Blue Diamond Resorts told Guardian Business that it could not commit to an opening date since the pas...
 
 
Thirteen-year land dispute leaves property owner frustrated
Joann Moss has been waiting to occupy her land for 13 years now. She has all the proper documents – proper title and a lien from CIBC FirstCaribbean International Bank – but people are on her land, and the office of the provost marshal (the commi...
 
 
Flow TV for everyone
Bahamas Telecommunications Company (BTC) yesterday officially unveiled its mobile television app, “FLOW to Go”, with twenty-nine channels. As a special introductory offer, FLOW to Go will be offered free for thirty days to all BTC customers with ...
 
 
$2 bil. spent by CTFE to buy Baha Mar
Chow Tai Fook Enterprises (CTFE) spent $2 billion to purchase the beleaguered Baha Mar mega resort, a government source with intimate information of the deal, and who spoke on condition of anonymity, told Guardian Business. CTFE is injecting another...
 
 
URCA to commence BPL efficiency assessment
The Utilities Regulation and Competition Authority (URCA) revealed in its 2017 annual draft plan that it intends to commence an efficiency assessment on Bahamas Power and Light's (BPL) systems in order to determine what may be behind the cause of the...
 
 
Rolle: Central Bank monitoring state of correspondent banking
Governor of The Central Bank of The Bahamas John Rolle told Guardian Business that the bank is actively monitoring and assessing an "evolving" situation concerning the possible deterioration of relationships between correspondent banks abroad and ban...
 
 
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