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Turnquest: There’s a bright future for Grand Bahama
Despite the continued talk of Grand Bahama’s crippled economy, Deputy Prime Minister Peter Turnquest said sentiments that the island has reached “rock bottom” are exaggerated. He said his government sees a “bright future for Grand Bahama”...
 
 
Bahamas has more work to do before WTO accession, says Symonette
Minister of Financial Services, Trade and Industry and Immigration Brent Symonette, suggested yesterday that The Bahamas still has a lot of work to do before joining the World Trade Organization (WTO), even suggesting that the country will have to ho...
 
 
IDB: Bahamas too dependent on fossil fuel, food imports
While it has one of the highest import bills in the Caribbean, an Inter-American Development Bank (IDB) report revealed that The Bahamas exports only $4 million in goods. The report, titled “Caribbean Region Quarterly Bulletin: Commodities in the ...
 
 
New chamber chief concerned about upcoming IMF, Moody’s visits
The new Bahamas Chamber of Commerce and Employers’ Confederation (BCCEC) Chairman Michael Maura is concerned that visits by the International Monetary Fund (IMF) and credit ratings agency Moody’s will not be good ones this summer, as both agencie...
 
 
Issa: Govt must make hotel industry a priority
Owner of SuperClubs Breezes Bahamas John Issa said yesterday that growing the hotel industry should be high on the government’s agenda, adding that “much greater” attention should be given to hotels as opposed to the cruise ship industry. Spea...
 
 
Attorney: Govt must ‘put its foot down’ with Hutchison Whampoa in GB
Callenders & Co. attorney Carey Leonard warned yesterday that Freeport will “suffer” if the government does not “put its foot down” with Hong Kong conglomerate Hutchison Whampoa, the owner of the Grand Lucayan complex and strip. While st...
 
 
FOCOL posts net income increase for nine-month period
FOCOL has announced a $1.5 million increase in net income for the nine-month period ended April 30, 2017, in comparison to the same period in 2016. These strong results come after the company announced having a “transformational” 2016 in its rece...
 
 
New Solomon’s location on target for year-end
Residents of eastern New Providence will soon be able to experience a new Solomon’s shopping experience, as a Yamacraw location remains on track to open in the fall of 2017. In its fourth quarterly financials released earlier this week, Chairman o...
 
 
Turnquest: CFA Society maintains strong ties with regulator
The CFA (Chartered Financial Analyst) Society of The Bahamas continues to maintain a strong relationship with the Securities Commission of The Bahamas, Robert Turnquest, the society’s president told the global CFA Institute recently, noting how m...
 
 
Patrick Ward urges removal of VAT from insurance products
With a new government in place, CEO and President of Bahamas First Patrick Ward insisted yesterday that value-added tax (VAT) be removed from insurance products, emphasizing that it is not only a burden to consumers, but to the government as well. V...
 
 
Captive insurance industry not competitive enough, says Ward
CEO and President of Bahamas First Patrick Ward yesterday shot down the idea of the captive insurance industry being prosperous once again in The Bahamas. The Bahamas has lost a lot of business in the captive insurance industry to Bermuda and the Ca...
 
 
Captive insurance industry not competitive enough, says Ward
CEO and President of Bahamas First Patrick Ward yesterday shot down the idea of the captive insurance industry being prosperous once again in The Bahamas. The Bahamas has lost a lot of business in the captive insurance industry to Bermuda and the Ca...
 
 
Henfield implores Bahamians to build businesses, take advantage of incentives
Senator Ranard Henfield in his Senate address yesterday implored Bahamians to “move quickly to reap the benefits of this administration’s efforts to improve the lives of all Bahamians”. Henfield pointed to the recent promises by Prime Minister...
 
 
Insurers keep their eyes on climate change
Insurance companies are keeping their eyes on the phenomenon that is global warming, as the 2017 hurricane season heats up. The insurers are concerned that not only storm frequency will increase, but also storm intensity and duration. Patrick Ward, ...
 
 
International financial services association recaps busy year during annual general meeting
The Association of International Banks and Trust Companies in The Bahamas (AIBT) held its annual general meeting (AGM) on June 22, 2017 during which Co-Chairman Bruno Roberts recapped a busy and productive year for the association. AIBT highlighted ...
 
 
Valentines Residences Resort and Marina initiates endowed scholarships at UB
Valentines Residences Resort and Marina embodies the picturesque tranquility of life on Harbour Island, Eleuthera, but the exotic enclave has also captured the world’s attention for its standard of excellence. The skills and diligence of the people...
 
 
BOB seeking to further reduce debt burden
Bank of The Bahamas (BOB) is seeking to further reduce its debt burden by converting $10 million of fixed rate, perpetual contingent convertible capital bonds effective at the end of this month. This move is likely part of the troubled bank’s effo...
 
 
Workshop highlights business continuity plan in event of natural disaster
With hurricane season now in effect, Vice President of Business at Bahamas Telecommunications Company (BTC) Carlyle Roberts stressed the importance for business owners to have in place a business continuity plan in the event that a natural disaster s...
 
 
Commonwealth Bank’s total assets top $1.6 billion
Amid a challenged economy, Commonwealth Bank Limited's total assets increased to over $1.6 billion last year while the bank maintained an impaired loan ratio below industry average, according to a press statement. The statement pointed out that the ...
 
 
Sumner: Lion’s share of govt budget should go to entrepreneurial development
If entrepreneurship is nurtured in this country, The Bahamas’ economy could experience a turnaround in three to five years, CEO of the Bahamas Chamber of Commerce and Employers' Confederation (BCCEC) Edison Sumner told Guardian Business recently. ...
 
 
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