Business – Eye Witness News

BusinessMay 14, 2021 at 3:51 am Natario McKenzie

Business

SHUT DOWN: Court of Appeal denies Nygard’s application for Privy Council appeal

NASSAU, BAHAMAS — The Court of Appeal has denied Canadian fashion mogul Peter Nygard’s application for conditional leave to appeal to the Privy Council its decision to dismiss an appeal that sought to quash a judge’s contempt of court order. On February 4 of this year, the applicant filed a notice of motion for conditional […]

NASSAU, BAHAMAS — The Court of Appeal has denied Canadian fashion mogul Peter Nygard’s application for conditional leave to appeal... read more »

May 14, 2021 at 3:51 am | Natario McKenzie

BusinessMay 14, 2021 at 3:48 am Natario McKenzie

Business

SEEKING CLARITY: Oil drilling opponents claim BPC owes govt for license fees; call on company to clarify

BREEF head: BPC must sort out license fees before applying to renew But BPC new incoming CEO says oil company has “the right to extend” its licenses NASSAU, BAHAMAS — Oil exploration opponents have called for “clarity” of Bahamas Petroleum Company’s (BPC) license fees, while “vehemently” rejecting assertions by its chief executive that the company […]

BREEF head: BPC must sort out license fees before applying to renew But BPC new incoming CEO says oil company... read more »

May 14, 2021 at 3:48 am | Natario McKenzie

BusinessMay 14, 2021 at 3:36 am Eyewitness News 1

Business

Use of The Bahamas’ vast ocean resources — Bahamas Development Bank looks at the potential and offers grants for training

NASSAU, BAHAMAS — The recent Blue Economy Think Tank hosted by the Strategic Development and Initiatives Unit of the Bahamas Development Bank (BDB) attracted over 340 registered participants and 20 panelists from The Bahamas and abroad, who examined ways in which Bahamians can benefit from sustainable use of the country’s vast ocean resources. The event’s […]

NASSAU, BAHAMAS — The recent Blue Economy Think Tank hosted by the Strategic Development and Initiatives Unit of the Bahamas... read more »

May 14, 2021 at 3:36 am | Eyewitness News | 1

BusinessMay 13, 2021 at 3:57 am Natario McKenzie

Business

RUNNING OUT OF TIME: “Uncertainty” looms as Dorian tax breaks set to expire, says Abaco Chamber

Hutton says Abaco residents have tried to engage govt to no avail NASSAU, BAHAMAS — With the Hurricane Dorian tax breaks set to expire at the end of June, Abaco’s Chamber of Commerce president said yesterday there is now a great deal of “uncertainty” on the island among residents and second homeowners looking to rebuild. […]

Hutton says Abaco residents have tried to engage govt to no avail NASSAU, BAHAMAS — With the Hurricane Dorian tax... read more »

May 13, 2021 at 3:57 am | Natario McKenzie

BusinessMay 13, 2021 at 3:49 am Natario McKenzie

Business

Securities regulator secures Privy Council decision in decade-old legal battle

NASSAU, BAHAMAS — The securities industry regulator has secured a Privy Council decision in its favor in a decade-old legal battle with Fundhaven (formerly Accuvest Fund Services) and South America Investment Fund Ltd. In a release yesterday, the Securities Commission of The Bahamas (SCB) noted a judgment was issued by the Judicial Committee of the […]

NASSAU, BAHAMAS — The securities industry regulator has secured a Privy Council decision in its favor in a decade-old legal... read more »

May 13, 2021 at 3:49 am | Natario McKenzie

BusinessMay 13, 2021 at 3:42 am Natario McKenzie

Business

TAKE FLIGHT: Bahamas must maximize returns on airspace takeover, urges local aviation industry operator

“Aviation is more than flying a plane; we have to bring in aviation mechanics and when you look at it, that is revenue that Bahamians are missing out on” NASSAU, BAHAMAS — A local aviation industry operator yesterday stressed that this nation must maximize returns from the management of its sovereign space, noting: “We have […]

“Aviation is more than flying a plane; we have to bring in aviation mechanics and when you look at it,... read more »

May 13, 2021 at 3:42 am | Natario McKenzie

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BusinessMay 13, 2021 at 3:41 am Eyewitness News 4

Business

Businessman lauds US court for $200K fine for American caught illegally fishing in Bahamian waters

Carey: Bahamas must be tougher on illegal fishing or fresh reef fish may become extinct “Seize vessels and they’ll get the message” NASSAU, BAHAMAS — Real estate guru Mario Carey, a businessman and diver, is facing an uphill slog to get everyone on board to stop the illegal harvesting of Bahamian conch, fish and crawfish. […]

Carey: Bahamas must be tougher on illegal fishing or fresh reef fish may become extinct “Seize vessels and they’ll get... read more »

May 13, 2021 at 3:41 am | Eyewitness News | 4

BusinessMay 13, 2021 at 3:35 am Eyewitness News

Business

Bahamian Brewery introduces plastic-free packaging

FREEPORT, GRAND BAHAMA — In 2020, The Bahamas joined 69 nations across the globe that have banned single-use plastics to promote greater environmental sustainability. The move was part of efforts to rethink the national management of solid waste and offered businesses an opportunity to reduce plastic and Styrofoam waste that have, over the past many […]

FREEPORT, GRAND BAHAMA — In 2020, The Bahamas joined 69 nations across the globe that have banned single-use plastics to... read more »

May 13, 2021 at 3:35 am | Eyewitness News

BusinessMay 13, 2021 at 3:34 am Eyewitness News

Business

Scotiabank Bahamas urges vigilance amid increase in fake apps and websites

NASSAU, BAHAMAS — As The Bahamas continues to transition to being a more digital society, amidst the COVID-19 pandemic, Scotiabank (Bahamas) is urging customers to pay keen attention to online safety and to be vigilant when navigating websites. The bank wants customers to take steps to verify the legitimacy of websites and apps — particularly […]

NASSAU, BAHAMAS — As The Bahamas continues to transition to being a more digital society, amidst the COVID-19 pandemic, Scotiabank... read more »

May 13, 2021 at 3:34 am | Eyewitness News

BusinessMay 12, 2021 at 3:28 am Natario McKenzie

Business

BAD TO WORSE: Shantytown resurgence further exacerbates Abaco’s “housing crisis”, says Chamber president

ABACO, BAHAMAS — The re-emergence of shantytowns on Abaco is merely exacerbating the housing crisis on the hurricane-ravaged island, according to its Chamber of Commerce president. Ken Hutton, the Abaco Chamber of Commerce president, told Eyewitness News: “I’m not taking sides on the issue, because that is not we do that, but we support the […]

ABACO, BAHAMAS — The re-emergence of shantytowns on Abaco is merely exacerbating the housing crisis on the hurricane-ravaged island, according... read more »

May 12, 2021 at 3:28 am | Natario McKenzie

BusinessMay 12, 2021 at 3:10 am Natario McKenzie

Business

INTO THE FUTURE: Bahamas Cabinet goes digital

Thompson says ministers do not have to physically attend Cabinet meetings to participate NASSAU, BAHAMAS — The Cabinet of The Bahamas has now transitioned to a digital platform designed to improve the processes and operating procedures in the Cabinet Office, according to State Minister for Finance Kwasi Thompson. Thompson officially announced the launch of the […]

Thompson says ministers do not have to physically attend Cabinet meetings to participate NASSAU, BAHAMAS — The Cabinet of The... read more »

May 12, 2021 at 3:10 am | Natario McKenzie

BusinessMay 11, 2021 at 12:25 pm Natario McKenzie 4

Business

“Absolute explosion” of health visa applications; reports of returning Bahamians unable to receive health visas

Over 5,000 applicants per day Some travelers report being stranded in the US as they seek to return home today NASSAU, BAHAMAS — Tourism Minister Dionisio D’Aguilar said today that the government has had to adjust its manpower and approvals process to handle an “absolute explosion” in health visa applications, noting “we’re up to over […]

Over 5,000 applicants per day Some travelers report being stranded in the US as they seek to return home today... read more »

May 11, 2021 at 12:25 pm | Natario McKenzie | 4

BusinessMay 11, 2021 at 3:51 am Natario McKenzie

Business

HOUSING MARKET DISPARITY: High-end real estate “booming”; local real estate, not so much

NASSAU, BAHAMAS — The country’s high-end real estate market is ‘booming”, according to Bahamas Real Estate Association (BREA) President Christine Wallace Whitfield, who noted the segment appears to be outperforming pre-pandemic levels. Wallace-Whitfield, in an interview with Eyewitness News, noted: “It’s the high-end market that is doing very well. That market is booming. It’s crazy. […]

NASSAU, BAHAMAS — The country’s high-end real estate market is ‘booming”, according to Bahamas Real Estate Association (BREA) President Christine... read more »

May 11, 2021 at 3:51 am | Natario McKenzie

BusinessMay 11, 2021 at 3:49 am Natario McKenzie

Business

OUT IN THE COLD: Taxi drivers fear being left out by Royal Caribbean Beach Club arrangement

Inside source assures Royal Caribbean eager to meet with taxi union over concerns NASSAU, BAHAMAS — Bahamas Taxi Cab Union President Wesley Ferguson yesterday voiced serious concerns that local taxi drivers will be left disadvantaged when the Royal Caribbean beach club destination on Paradise Island comes on stream. Ferguson told Eyewitness News: “We want to […]

Inside source assures Royal Caribbean eager to meet with taxi union over concerns NASSAU, BAHAMAS — Bahamas Taxi Cab Union... read more »

May 11, 2021 at 3:49 am | Natario McKenzie

BusinessMay 11, 2021 at 3:40 am Natario McKenzie

Business

Govt digitization strategy continues with aim to increase productivity

Redeployments to be brought about within public sector NASSAU, BAHAMAS — A top Ministry of Finance official said yesterday as the government moves forward with its digitization strategy, it is looking internally to see how workers within the public service may be redeployed for greater productivity. Marlon Johnson, acting financial secretary, while speaking at a […]

Redeployments to be brought about within public sector NASSAU, BAHAMAS — A top Ministry of Finance official said yesterday as... read more »

May 11, 2021 at 3:40 am | Natario McKenzie

BusinessMay 11, 2021 at 3:32 am Eyewitness News

Business

Caribbean tech company to launch corporate innovation programme

TBR Lab is reimagining learning and development for corporate innovators KINGSTON, JAMAICA — Caribbean tech-connector platform TechBeach Retreat has designed a Corporate Innovation Accelerator Programme to address the challenge of reskilling in the COVID era head-on. The program, which takes place from June 7 to July 2, 2021, is part of the TBR LAB digital […]

TBR Lab is reimagining learning and development for corporate innovators KINGSTON, JAMAICA — Caribbean tech-connector platform TechBeach Retreat has designed... read more »

May 11, 2021 at 3:32 am | Eyewitness News

BusinessMay 11, 2021 at 3:31 am Eyewitness News

Business

BHTA president calls homeporting a “win-win”’; warns ‘we get one bite at this apple’

Royal Caribbean exec: Homeporting will help reinvigorate Bahamian economy NASSAU, BAHAMAS — Calling homeporting a “win-win” for the country, president of the Bahamas Hotel and Tourism Association Robert “Sandy” Sands this week lauded the potential of Royal Caribbean’s plans to homeport in Nassau this summer. Sands declared it would boost airlift, help fill hotel rooms […]

Royal Caribbean exec: Homeporting will help reinvigorate Bahamian economy NASSAU, BAHAMAS — Calling homeporting a “win-win” for the country, president... read more »

May 11, 2021 at 3:31 am | Eyewitness News

BusinessMay 10, 2021 at 3:41 am Natario McKenzie

Business

“MAJOR DEFICIENCIES”: Disney’s Lighthouse Point opponents continue criticism of EIA

“The Bahamas deserves a full assessment of whether or not this project is a good deal for its people” NASSAU, BAHAMAS — Opponents of Disney’s Lighthouse Point development maintain that the company’s environmental impact assessment (EIA) has “major deficiencies”, stating that this nation deserves a full assessment of whether or not the project is a […]

“The Bahamas deserves a full assessment of whether or not this project is a good deal for its people” NASSAU,... read more »

May 10, 2021 at 3:41 am | Natario McKenzie

BusinessMay 10, 2021 at 3:38 am Natario McKenzie

Business

NO PRETTY PICTURE: Govt lost without a plan as country facing “dire circumstances”, says Cooper

“This chicken will come home to roost in due course” NASSAU, BAHAMAS — The nine-month fiscal snapshot released by the Minnis administration underscores the “dire set of circumstances” this nation is currently facing, according to Shadow Finance Minister Chester Cooper, who accused the administration of being lost and without a plan. The Progressive Liberal Party […]

“This chicken will come home to roost in due course” NASSAU, BAHAMAS — The nine-month fiscal snapshot released by the... read more »

May 10, 2021 at 3:38 am | Natario McKenzie

BusinessMay 10, 2021 at 3:31 am Natario McKenzie

Business

Mortgage lender’s net profits drop near 65 percent over 3-month period

NASSAU, BAHAMAS — A mortgage lender has reported its net profit for the three moths ended January 31, 2021 was down more than 60 percent compared to the corresponding period in the prior year. The BISX-listed Finance Corporation of The Bahamas (FINCO), in its first quarter financial statement, noted that the bank’s net profit for […]

NASSAU, BAHAMAS — A mortgage lender has reported its net profit for the three moths ended January 31, 2021 was... read more »

May 10, 2021 at 3:31 am | Natario McKenzie