Business – Eye Witness News

BusinessJanuary 27, 2021 at 3:59 am Natario McKenzie

Business

Moody’s now expects lower economic rebound for The Bahamas in 2021

NASSAU, BAHAMAS — Moody’s Investors Service said it now expects the country’s economic rebound to be lower this year and GDP growth in 2022 to be higher than previously forecast. The ratings agency in an update yesterday noted that still-depressed tourist flow will hamper this nation’s growth this year. Last summer, Moody’s lowered the country’s […]

NASSAU, BAHAMAS — Moody’s Investors Service said it now expects the country’s economic rebound to be lower this year and... read more »

January 27, 2021 at 3:59 am | Natario McKenzie

BusinessJanuary 27, 2021 at 3:52 am Natario McKenzie

Business

34 approvals under BEATS program to-date

NASSAU, BAHAMAS — The government has received just over 100 applications thus far for its Bahamas Extended Access Travel Stay (BEATS) program, with 34 having been approved thus far. The program was launched last October and allows visitors to work and study across the country for up to a year. According to information collected by […]

NASSAU, BAHAMAS — The government has received just over 100 applications thus far for its Bahamas Extended Access Travel Stay... read more »

January 27, 2021 at 3:52 am | Natario McKenzie

BusinessJanuary 27, 2021 at 3:50 am Natario McKenzie

Business

Exuma Chamber of Commerce fears Scotia’s exit will impact half the banking population

NASSAU, BAHAMAS — The Exuma Chamber of Commerce president said yesterday that half of the island’s banking population will be impacted by Scotia Bank’s exit, with no other institution having stepped up to this point to fill the gap. Pedro Rolle told Eyewitness News that while the reopening of Sandals Emerald Bay scheduled for February […]

NASSAU, BAHAMAS — The Exuma Chamber of Commerce president said yesterday that half of the island’s banking population will be... read more »

January 27, 2021 at 3:50 am | Natario McKenzie

BusinessJanuary 27, 2021 at 3:48 am Natario McKenzie

Business

IMF: Debt target delay “appropriate” as government’s near-term priority is to “save lives and livelihoods”

NASSAU, BAHAMAS — The government’s near-term priority is to “save lives and livelihoods” according to the International Monetary Fund (IMF), which added that it is “appropriate” to postpone the achievement of the public debt target of 50 percent of GDP by another two years. According to the IMF, public debt is expected to jump to […]

NASSAU, BAHAMAS — The government’s near-term priority is to “save lives and livelihoods” according to the International Monetary Fund (IMF),... read more »

January 27, 2021 at 3:48 am | Natario McKenzie

BusinessJanuary 27, 2021 at 3:39 am Eyewitness News

Business

Miya Bahamas executes water efficiency strategies despite COVID impact

NASSAU, BAHAMAS — Despite the challenges of the last year, Miya Bahamas is pleased to announce that they have successfully executed their water efficiency strategies last year. The company said that “thankfully” it was granted status as an essential service at the onset of the global health pandemic, and with the help of its dedicated […]

NASSAU, BAHAMAS — Despite the challenges of the last year, Miya Bahamas is pleased to announce that they have successfully... read more »

January 27, 2021 at 3:39 am | Eyewitness News

BusinessJanuary 26, 2021 at 7:48 am Natario McKenzie

Business

Former Sky Bahamas financier seeks default judgement against Butler

NASSAU, BAHAMAS — Former Sky Bahamas financier Fred Kaiser is seeking a default judgement against the airline’s former chief executive, Randy Butler, over an alleged $28 million “bogus loans” scheme. According to court documents, on Monday, Kaiser’s attorneys filed a judgement in default of defense against the claims leveled against him in a writ filed […]

NASSAU, BAHAMAS — Former Sky Bahamas financier Fred Kaiser is seeking a default judgement against the airline’s former chief executive,... read more »

January 26, 2021 at 7:48 am | Natario McKenzie

Poll

Should The Bahamas independently review any vaccine approved by PAHO for wide distribution?

Yes (72%)
No (24%)
Unsure (4%)

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BusinessJanuary 26, 2021 at 3:53 am Natario McKenzie

Business

Union chief: Extension of state of emergency raises “economic and social concerns”

NASSAU, BAHAMAS — A prominent trade union leader yesterday blasted as “unacceptable and a total disrespect to the labor movement” the prime minister’s decision to further extend the state of emergency until May 23 without consulting trade unionists, warning that the move raises serious economic and social concerns. Obie Ferguson, the Trade Union Congress (TUC) […]

NASSAU, BAHAMAS — A prominent trade union leader yesterday blasted as “unacceptable and a total disrespect to the labor movement”... read more »

January 26, 2021 at 3:53 am | Natario McKenzie

BusinessJanuary 26, 2021 at 3:52 am Natario McKenzie 2

Business

Baha Mar to complete final phase of reopening on March 4 with SLS and Rosewood

NASSAU, BAHAMAS — Following the December opening of the Grand Hyatt, Baha Mar is completing the final phase of its reopening, with Rosewood and SLS to reopen on March 4, according to the resort. The resort welcomed guest back guests to Grand Hyatt Baha Mar on December 17, 2020. Earlier this month, Baha Mar President […]

NASSAU, BAHAMAS — Following the December opening of the Grand Hyatt, Baha Mar is completing the final phase of its... read more »

January 26, 2021 at 3:52 am | Natario McKenzie | 2

BusinessJanuary 26, 2021 at 3:49 am Natario McKenzie

Business

Hotel union president concerned about challenges to tourism rebound

NASSAU, BAHAMAS — Bahamas Hotel Catering and Allied Workers Union (BHCAWU) President Darrin Woods yesterday expressed his concern over the country’s tourism industry’s rocky restart, with Atlantis informing employees that it will scale back its operations next week and furlough some staff again. Woods told Eyewitness News: “They called us and told us about it […]

NASSAU, BAHAMAS — Bahamas Hotel Catering and Allied Workers Union (BHCAWU) President Darrin Woods yesterday expressed his concern over the... read more »

January 26, 2021 at 3:49 am | Natario McKenzie

BusinessJanuary 26, 2021 at 3:38 am Eyewitness News

Business

Concepts Marketing Solutions leans into charitable causes

NASSAU, BAHAMAS — Early on in what we now call the global pandemic of 2020, Leah Davis, a 20-year marketing executive, decided to launch a boutique marketing firm, Concepts Marketing Solutions, leveraging her diverse background of marketing experiences across the financial services, hospitality and retail industries. Concepts Marketing Solutions is described as “specializing in crafting […]

NASSAU, BAHAMAS — Early on in what we now call the global pandemic of 2020, Leah Davis, a 20-year marketing... read more »

January 26, 2021 at 3:38 am | Eyewitness News

BusinessJanuary 26, 2021 at 3:31 am Eyewitness News

Business

Royal Caribbean Group to become Silver Sponsor, Global Leadership Summit Bahamas

NASSAU, BAHAMAS — The Global Leadership Summit (GLS) Bahamas announced yesterday that Royal Caribbean Group will be a silver sponsor of its annual event, bringing top names in business and leadership to audiences in The Bahamas. It will be the third year that the long-time friend and supporter of The Bahamas is sponsoring the summit, […]

NASSAU, BAHAMAS — The Global Leadership Summit (GLS) Bahamas announced yesterday that Royal Caribbean Group will be a silver sponsor... read more »

January 26, 2021 at 3:31 am | Eyewitness News

BusinessJanuary 25, 2021 at 3:54 am Natario McKenzie

Business

BPC chief slams “half-baked” insurance policy allegations

NASSAU, BAHAMAS — Bahamas Petroleum Company (BPC) yesterday again fired back at what it called “a series of half-baked allegations” regarding its insurance policies for its drilling activities, noting that by April The Bahamas will know whether it is an oil-rich nation. BPC CEO Simon Potter said in a statement yesterday: “International and local environmentalist […]

NASSAU, BAHAMAS — Bahamas Petroleum Company (BPC) yesterday again fired back at what it called “a series of half-baked allegations”... read more »

January 25, 2021 at 3:54 am | Natario McKenzie

BusinessJanuary 25, 2021 at 3:53 am Natario McKenzie

Business

Bahamas “ahead of the curve” to meet new US cross-border testing requirements

NASSAU, BAHAMAS — Bahamas Hotel and Tourism Association (BHTA) President Robert “Sandy” Sands has expressed his confidence in the destination’s ability to meet the travel requirements for all air passengers travelling/returning to the US. Sands stated: “The new viral COVID cross-border testing protocols for travel to the US, which includes the rapid antigen test, is […]

NASSAU, BAHAMAS — Bahamas Hotel and Tourism Association (BHTA) President Robert “Sandy” Sands has expressed his confidence in the destination’s... read more »

January 25, 2021 at 3:53 am | Natario McKenzie

BusinessJanuary 25, 2021 at 3:51 am Natario McKenzie

Business

Sky Bahamas chief pushes back against “swindling” claims

NASSAU, BAHAMAS — Sky Bahamas’ former chief executive, Captain Randy Butler, has refuted claims by the airline’s former financier that he “swindled” the company out of millions of dollars. Businessman Fred Kaiser claimed that Butler, the former airline executive, “bilked” insurers and pocketed millions from selling engines off-market, according to court documents. Kaiser, a permanent […]

NASSAU, BAHAMAS — Sky Bahamas’ former chief executive, Captain Randy Butler, has refuted claims by the airline’s former financier that... read more »

January 25, 2021 at 3:51 am | Natario McKenzie

BusinessJanuary 25, 2021 at 3:45 am Natario McKenzie

Business

Out Island resorts saw 77 percent drop in room nights sold in 2020

NASSAU, BAHAMAS — Out Island resorts saw a 77 percent drop in room nights sold (RNS) between January and November of 2020 compared to the prior year, according to data from the Bahamas Out Island Promotion Board (BOIPB). According to the BOIPB data, room nights sold, a key performance indicator for member properties, in 2019 […]

NASSAU, BAHAMAS — Out Island resorts saw a 77 percent drop in room nights sold (RNS) between January and November... read more »

January 25, 2021 at 3:45 am | Natario McKenzie

BusinessJanuary 25, 2021 at 3:41 am Natario McKenzie

Business

Sandals confirms reopening dates for Bahamas properties amid rise in booking levels

NASSAU, BAHAMAS — Sandals’ top executive said the resort has seen booking levels increase “day by day” in light of strong demand for this destination, while confirming the opening dates of its Emerald Bay and Royal Bahamian properties. As previously reported by Eyewitness News, Sandals Emerald Bay on Great Exuma will welcome guests on February […]

NASSAU, BAHAMAS — Sandals’ top executive said the resort has seen booking levels increase “day by day” in light of... read more »

January 25, 2021 at 3:41 am | Natario McKenzie

BusinessJanuary 23, 2021 at 3:34 am Eyewitness News

Business

New Caves Corporate Center now fully leased by NAI Bahamas Realty Commercial

NASSAU, BAHAMAS — NAI Bahamas Realty Commercial, a full-service independent commercial real estate firm, announced today that Caves Corporate Center West is now 100 percent leased. The NAI Bahamas Realty Commercial exclusive listing is a newly constructed Class A office building located on West Bay Street and Blake Road. NAI Bahamas Realty Commercial CEO Donald […]

NASSAU, BAHAMAS — NAI Bahamas Realty Commercial, a full-service independent commercial real estate firm, announced today that Caves Corporate Center... read more »

January 23, 2021 at 3:34 am | Eyewitness News

BusinessJanuary 22, 2021 at 3:53 am Natario McKenzie

Business

BTC unions reject company’s early retirement program offer

NASSAU, BAHAMAS — The Bahamas Telecommunications Company’s (BTC) line staff and managers union representatives have taken issue with the company’s decision to offer an Enhanced Early Retirement Program (EERP), with one union head describing the company’s actions as “distasteful”. BTC said in a statement yesterday that while it remains committed to transforming its business into […]

NASSAU, BAHAMAS — The Bahamas Telecommunications Company’s (BTC) line staff and managers union representatives have taken issue with the company’s... read more »

January 22, 2021 at 3:53 am | Natario McKenzie

BusinessJanuary 22, 2021 at 3:51 am Natario McKenzie

Business

Pharmacies, gas stations welcome Sunday opening

NASSAU, BAHAMAS — Pharmacy and gas station operators said yesterday they were “thankful” and “overjoyed” after it was announced that pharmacies, gas stations and laundromats will now be allowed to operate between 6am and 9pm on New Providence and Abaco on Sundays. Vasco Bastian, owner/operator Esso On the Run, East Street and Soldier Road, told […]

NASSAU, BAHAMAS — Pharmacy and gas station operators said yesterday they were “thankful” and “overjoyed” after it was announced that... read more »

January 22, 2021 at 3:51 am | Natario McKenzie

BusinessJanuary 22, 2021 at 3:50 am Natario McKenzie

Business

PM: Govt. committed to establishing The Bahamas as leading regional ADR center

NASSAU, BAHAMAS — Prime Minister Dr Hubert Minnis yesterday underscored the government’s commitment to maximizing this jurisdiction’s potential in dispute resolution and establishing The Bahamas as a leading center for alternative dispute resolution (ADR) in the region. Minnis, who gave opening remarks at the Ministry of Financial Services, Trade and Industry and Immigration‘s Alternative Dispute […]

NASSAU, BAHAMAS — Prime Minister Dr Hubert Minnis yesterday underscored the government’s commitment to maximizing this jurisdiction’s potential in dispute... read more »

January 22, 2021 at 3:50 am | Natario McKenzie