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Business

 
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...
 
 
Govt to enter into discussions on redundancy pay cap
Minister of Labor Dion Foulkes said the government will enter into a series of discussions regarding the possibility of upcoming changes to the redundancy cap for employees in the hope of reaching a decision the business community and unions can “l...
 
 
Agriculture minister tours Cooperative Youth Entrepreneur Summer Program
Minister of Agriculture & Marine Resources Renward Wells toured the 2017 Cooperative Youth Entrepreneur Summer Program, an initiative of the ministry's Youth Embracing Excellence Successfully (YEES) project, which was held at C.I. Gibson School o...
 
 
Govt has backup plan if Grand Lucayan negotiations ‘drag out’
Minister of Finance Peter Turnquest said the government has a "backstop" plan if negotiations to reopen the Grand Lucayan hotel strip "drag out" further than intended. Turnquest's remarks came while addressing the Grand Bahama Chamber of Commerce on...
 
 
Blackburn: Aliv still intends to beat original two-year rollout obligation period
CEO of BeAliv Ltd. Damian Blackburn said the mobile operator has over 70,000 subscribers to date and over 4,000 numbers have been ported to Aliv's network since the launch of mobile number portability on April 25. In a recent interview with Guardian...
 
 
Credit, debit card data may have been compromised, reveals Atlantis
Only days after Atlantis played host to a pre-eminent information and communication technology forum, which covered cybersecurity, the resort reported a breach in its data security that may have compromised the credit and debit cards at point-of-sale...
 
 
Public sector performance project launched; its objectives outlined
With the Public Financial Management and Performance Monitoring Reform (PFM/PMR) project officially launched, the public is sure to see an improvement in government processes. Its first phase places special teams within the Office of the Prime Minist...
 
 
Vendors disappointed by lack of progress on Potter’s Cay Dock
Potter's Cay Dock vendors are disappointed that the Progressive Liberal Party (PLP) left office without fulfilling its promise of a new Potter's Cay. And they are similarly dismayed that it seems like the new Free National Movement government will no...
 
 
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