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Business

 
Thompson encourages 63 NTA trainee grads in GB
FREEPORT, Grand Bahama – The government has a strategy to improve the economy of Grand Bahama by promoting entrepreneurship, said Minister of State for Grand Bahama in the Office of the Prime Minister, Senator the Hon. Kwasi Thompson, during the gr...
 
 
Source: Promotion board not aware of Baha Mar airlift negotiations
A well-placed source close to the Nassau Paradise Island Promotion Board (NPIPB) said the board has not been made aware of the airlift negotiations alluded to in a press release issued by Baha Mar Wednesday. The NPIPB source said, “Traditionally...
 
 
Turnquest: Decline in ease of doing business due to inertia in govt
The Bahamas has suffered a decline in the ease of doing business due to inertia in many facets of government, Deputy Prime Minister Peter Turnquest said yesterday, adding that the country, through implemented improvements in government processes coul...
 
 
IDB economist asserts need to reduce public sector expenditure
Government expenditure is on the rise, and currently accounts for roughly 25 percent of the country’s gross domestic product (GDP), according to Inter-American Development Bank (IDB) Country Economist Dr. Allan Wright. In a recent interview with Gu...
 
 
Wright: Challenges connected to low investment, timid entrepreneurship
One of the issues concerning the Bahamian public sector is providing adequate services across The Bahamas, especially to the southern-most Family Islands, Inter-American Development Bank (IDB) Country Economist Dr. Allan Wright told Guardian Business...
 
 
BAMSI staff attend international conference on agriculture
Critical research and the maturation of this nation’s agriculture industry has left regional counterparts seeking future collaborative opportunities. This comes following presentations by a team of agriculturalists from the Bahamas Agriculture and ...
 
 
Minnis: Govt considering part ownership of Grand Lucayan
Government is considering taking an equity stake in the Grand Lucayan hotel in Grand Bahama in order to help the island’s economy to rebound, Prime Minister Dr. Hubert Minnis announced last night as he addressed the nation. He said renovations at t...
 
 
Baha Mar outlines plan to expand market following price undercutting claim
Baha Mar yesterday sought to defend its position with regard to claims that it has been involved in price undercutting in the Nassau/Paradise Island market, by explaining its position in the market and its plan for attracting visitors from new market...
 
 
Concern about impact of Baha Mar’s $50 per night promotion
Baha Mar recently announced a two-for-one deal an industry source claimed could potentially put this destination’s tourism market in jeopardy. The move by Baha Mar was so alarming that an emergency meeting of the Nassau Paradise Island Promotion Bo...
 
 
Following Moody’s visit, government ‘hopeful’ rating will be maintained
Minister of Finance Peter Turnquest said the government is “hopeful” the country’s investment rating will be maintained. His comments came shortly after international credit rating agency Moody’s completed its visit to The Bahamas yesterday. ...
 
 
Bowe: Rating agencies eying growth plan, quality of financial reporting
While Moody’s and the International Monetary Fund (IMF) have wrapped up their visits to The Bahamas, Chairman of the Bahamas Institute of Chartered Accountants (BICA) Gowon Bowe said the agencies were focused on looking at solutions to improve eco...
 
 
Atlantis president laments price undercutting from competitors
Atlantis President Howard Karawan said he is concerned that price undercutting could negatively affect The Bahamas’ tourism market. He explained that he has seen undercutting happening that amounts to “stealing from the existing market”. Karaw...
 
 
Atlantis formally introduces Bahamian vendors added to its offerings
Atlantis formally announced yesterday its partnership with Bahamian restaurants and entrepreneurs that will greatly increase the authentically Bahamian flavor at the property. Atlantis formally announced a partnership with Sip Sip Restaurant on Harb...
 
 
Naughton: Consistently healthy occupancy levels at Comfort Suites
Senior Vice President and Managing Partner at Comfort Suites Paradise Island William Naughton said the resort has, in some recent months, experienced “more of a challenge to fill” its rooms in comparison to recent years. However, Naughton said t...
 
 
Central Bank, Commonwealth Secretariat sign MOU on debt management
The Central Bank of The Bahamas announced that a memorandum of understanding (MOU) was signed this month with the Commonwealth Secretariat for joint funding of technical assistance to modernize the legal framework for managing the government’s debt...
 
 
Higgs & Johnson attorneys discuss attorney-client privilege in new book
The Bahamas is one of 32 jurisdictions examined in the new publication “Attorney-Client Privilege in the Americas: Professional Secrecy of Lawyers”, published by Cambridge University Press. The book explores differences in the rules on attorney-c...
 
 
DPM announces establishment of BIA satellite office in GB
FREEPORT, Grand Bahama – The government of The Bahamas has made the commitment to establish a satellite office of the Bahamas Investment Authority (BIA) in Grand Bahama, with the focus of speeding up investment opportunities on the island. This an...
 
 
BIA calls for govt to rectify NHI Secretariat actions
The Bahamas Insurance Association (BIA) is calling on the government to “rectify” actions of the National Health Insurance (NHI) Secretariat that seem to be in contravention of the very laws that brought NHI into force. The BIA has concluded tha...
 
 
Govt to implement small business development center model
Minister of State for Grand Bahama Kwasi Thompson said the government would be implementing a small business development center model over the next few months in an effort to help boost small to medium-sized enterprises (SMEs) in The Bahamas. Thomps...
 
 
Thumbs up and out for ride-sharing app Bahrezy
The Bahamian Uber is growing driver by driver, the company’s co-owner and Chief Operating Officer Xavier Knowles told Guardian Business yesterday. With 15 drivers, 1,500 users logged and more than 700 rides under its belt in just five months, Bahr...
 
 
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