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Business

 
Bastian could be eyeing commercial bank startup
CEO of Island Luck Sebas Bastian could be eyeing the opening of a non-traditional commercial bank, stating that it makes sense to add a bank to his suite of companies and services, as he already has an investment bank as part of his conglomerate ...
 
 
Sunwing back in talks with Hutchison; buyer for Grand Lucayan Resort eyed
Prime Minister Perry Christie revealed yesterday that Sunwing Travel Group and Hutchison Whampoa are currently in discussions regarding the renovation and reopening of Memories Grand Bahama Resort only weeks after Sunwing, through its Blue Diamond Re...
 
 
DEVCO slashes Grand Bahama property prices 30 to 40 percent
Charles Pratt, manager of land development for the Grand Bahama Development Company (DEVCO), revealed that yesterday marked the official launch date for individuals interested in purchasing vacant lots in DEVCO subdivisions, and that they would be ab...
 
 
Island Luck launches OWN grant fund for a third year
Island Luck has shelled out $300,000 in the past two years to jump-start Bahamian businesses, and its CEO Sebas Bastian is looking forward to helping another 20 businesses through another $150,000 in grants this year. According to Bastian, the OWN B...
 
 
Waste company consortium ready to manage landfill
WasteNot Bahamas Limited and other waste/sanitation companies lose money when the landfill is on fire or not running efficiently, WasteNot Principal Ginny McKinney told the Guardian Business yesterday. McKinney is part of a consortium of sanitation ...
 
 
Solution needed to keep pension benefits afloat, says NIB director
Director of the National Insurance Board (NIB) Patricia Hermanns admitted yesterday that a solution is needed to sustain the longevity of NIB’s pension benefits, and it involves striking a balance between contributions being paid and benefits being...
 
 
PMU satisfied but notes deal with NIB does not ‘cure everything’
The Public Managers Union (PMU) and the National Insurance Board (NIB) signed a new industrial agreement yesterday after “many months” of negotiations, but PMU President Leslie Munnings said the new agreement does not “cure everything”. The ...
 
 
Mitchell: RBC closures will have ‘devastating’ impact on Bimini, Spanish Wells
Minister of Foreign Affairs and Immigration Fred Mitchell said yesterday the expected closure of RBC Royal Bank on Bimini and Spanish Wells will have a “devastating” impact on these communities. The Canadian bank recently announced plans to clos...
 
 
BTC bridging the digital divide
Over the last two years Bahamas Telecommunications Company (BTC) has been hard at work on a number of initiatives to progress the “smart island” agenda for the country. Last year, the company began a focused partnership with the Registrar General...
 
 
Pelican Bay hosts private dining experience
FREEPORT, Grand Bahama – This past February, the Pelican Bay Hotel, through its recently launched Instagram page, invited its guests both local and international to ‘Find Love’ during its first ever Scavenger Hunt Competition. The promotion rec...
 
 
Royal Caribbean vows to double passengers to three million
Royal Caribbean Cruises Limited (RCCL) vowed yesterday to double the number of passengers it brings to The Bahamas to 3 million, as its chief executives signed a memorandum of understanding with The Bahamas that will usher in $150 million in further ...
 
 
Physician remuneration concerns as NHI sign up date approaches
The first round of physicians who will be signing on as primary care providers under National Health Insurance (NHI) have until the end of this month to do so. While this process closes within weeks, Medical Association of The Bahamas (MAB) Presiden...
 
 
Hundreds of workers to be trained at Grand Bahama Shipyard
The Bahamas houses the largest cruise ship repair yard in the world, Prime Minister Perry Christie said yesterday, revealing that Royal Caribbean Cruises Ltd. (RCCL) and the government of The Bahamas have entered into a joint venture to see hundreds ...
 
 
Hope is not a strategy to reduce deficit, says Collie
Free National Movement (FNM) Chairman Sidney Collie said yesterday that “hope” is not a strategy to reduce the government’s fiscal deficit below $300 million before the budgetary period ends. Collie issued a statement responding to comments ma...
 
 
Flow To Go exceeds BTC’s expectations
As an early Christmas present, Bahamas Telecommunications Company (BTC) launched its mobile television service, Flow To Go. With just eight weeks since its launch, the company is elated about the public’s response. “Over 14,000 customers have sa...
 
 
PM: Govt very close to choosing new dump manager
Government is moving quickly to find a company to manage the New Providence Landfill, especially given the tragic fire that impacted residents of Jubilee Gardens on Sunday. So far two companies, both with United States ties, have been identified. Du...
 
 
RBC FINCO’s non-performing mortgages up $16.9M
RBC FINCO shed light on the country’s mortgage crisis yesterday, revealing in its annual report a $16.9 million increase in non-performing mortgages for the fiscal year that ended October 31, 2016. Director of RBC FINCO Franchon Braynen outlined t...
 
 
International standards not being used at landfill, says Michielsen
The bid for Stellar Energy to operate a waste-to-energy (WTE) facility at the New Providence Landfill could continue to be a pipe dream for the company, as Minister of the Environment Kenred Dorsett yesterday said an energy reform task force took the...
 
 
Businesses impacted by landfill fire
Since 2012, Gladstone Freight Terminal (GFT) has never closed its doors with respect to a fire until yesterday, as a result of the massive fire that roared across the New Providence Landfill on Sunday. GFT, located off Gladstone Road, acknowledged t...
 
 
Luigi Romaniello appointed Rosewood Baha Mar managing director
Rosewood Hotels & Resorts announced yesterday the appointment of Luigi Romaniello as managing director of Rosewood Baha Mar, the newest Caribbean addition to the Rosewood portfolio. As managing director, Luigi Romaniello will lead all hotel opera...
 
 
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