Sands: Businesses readying for Disney development impact, but more details needed

NASSAU, BAHAMAS – President of the Eleuthera Chamber of Commerce Thomas Sands said yesterday that while there is a degree of optimism among the business community on the island after the government signed a heads of agreement with Disney Cruise Line to develop Lighthouse Point, South Eleuthera, some businesses owners are still not clear on the economic […]

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Royal Fidelity raises $134,750,000 for NAD

NASSAU, BAHAMAS – Royal Fidelity Merchant Bank & Trust on Wednesday announced  that it served as the Co-Placement Agent with CIBC World Markets Corp, New York, to the Nassau Airport Development Company (NAD), in its recently completed Placement of $134,750,000 in participating debt notes. Royal Fidelity also acted as sole Escrow Agent for the deal. NAD […]

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IMF recommends more “equitable” tax system for The Bahamas

Report points to capital gains tax and income tax NASSAU, BAHAMAS – While the Minnis administration has assured that it is not considering a corporate tax, income tax or further increases to value-added tax (VAT) as part of its fiscal agenda for the remainder of its term, the International Monetary Fund (IMF) has pointed to […]

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Bahamas Maritime Authority appoints new Managing Director and CEO

NASSAU, BAHAMAS – The Bahamas Maritime Authority (BMA) has announced the appointment of Captain Dwain E. Hutchinson as its new Managing Director and Chief Executive Officer. The announcement was made on April 11, 2019 at the Ministry of Transport and Local Government. Captain Hutchinson succeeds Commodore Davy F. Rolle, who stepped down as managing director […]

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Spongers begin direct international sales

Monday April 15 was an historic, monumental day in Mangrove Cay Andros, for the Bahamas Commercial Sponge Association (BCSA), Bahamas Agricultural & Industrial Corporation (BAIC) and the Interamerican Development Bank (IDB) as the first shipment of Bahamian harvested sponges from the area began its journey to Europe. The project to revitalize the industry is sponsored […]

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Turnquest: Govt’s reform agenda is moving the country on the right track

Says economy is getting stronger but there is still much work to do NASSAU, BAHAMAS – Minister of Finance Peter Turnquest expressed on Monday that it is clear from the IMF’s initial Article IV assessment that the reform agenda of the Minnis-led administration is moving the country on the right track. “The economy is getting […]

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Nassau consumers support and give input at URCA town hall meeting

Team now heads to Marsh Harbour, Abaco with Grand Bahama town halls in May. NASSAU, BAHAMAS – It was a no holds barred conversation between stakeholders and executives during the Utilities Regulation and Competition Authority’s (URCA) recent town hall meeting at the Choices Restaurant at the University of The Bahamas. The URCA Executive Team presented […]

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Rupert Roberts: WTO will not benefit local businesses

NASSAU, BAHAMAS – As the Government continues negotiations into the country’s accession to the World Trade Organization (WTO), a local businessman on Monday spoke out against the move. Rupert Roberts, the owner of Super Value food stores, Quality Supermarkets and a paper manufacturing plant, told the media during a press conference hosted by the Bahamians […]

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DPM: “Nothing is off the table”

NASSAU, BAHAMAS – While insisting that the Minnis administration’s fiscal consolidation plan for The Bahamas over the three years does not include increasing any existing taxes or introducing any new taxation measures, Deputy Prime Minister and Minister of Finance, Peter Turnquest said his ministry has continued to research various tax models to potentially respond to […]

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LPIA stakeholders close out spring break travel and plan ahead for heavy Easter traffic

NASSAU, BAHAMAS — As a busy spring break travel period comes to a close, key stakeholders at Lynden Pindling International Airport (LPIA) will continue operational measures to manage heavy traffic anticipated over the Easter holiday weekend. In February of this year, 322,596 passengers moved through LPIA, up 21.9% year-over-year with similar growth trends expected when March […]

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Govt. to scale back certain projects in upcoming budget

Revenue collection will get on track by year’s-end NASSAU, BAHAMAS – As the government seeks to reign in on expenditure in the latter half of this fiscal year while increasing its revenue collections after revenue underperformed in the first six months of 2018/2019, Minister of Finance Peter Turnquest said yesterday the government will scale back […]

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Scotiabank using technology to help customers control their money

NASSAU, BAHAMAS – Scotiabank on Thursday announced new enhancements to its Alerts feature to give customers more control of their banking. In addition to Transaction Alerts and Security Alerts, the Bank now offers Credit Card Controls. Credit Card Controls is an innovative feature that gives customers the ability to turn their credit card off or […]

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GB gets big promotional plug during world cruise and maritime conference

NASSAU, BAHAMAS — Minister of State for Grand Bahama, Senator Kwasi Thompson, said that the new proposed Carnival Cruise Port, slated for development in East Grand Bahama, was announced to over 11,000 people within the cruise industry, during a recent conference in Miami, Florida, April 8-10, 2019. It was during one of the opening sessions […]

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Doppler radar network to be completed by mid-December

Below average hurricane season predicted NASSAU, BAHAMAS – The final two installments for the upgraded Doppler radar network in The Bahamas will be completed by mid-December 2019, according to Chief Meteorologist Basil Dean. Speaking to Eyewitness News Online about projections for the upcoming 2019 Hurricane season, Dean said three new radars were installed in Marsh […]

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Obie Ferguson: “It’s a sad situation at Morton Salt”

NASSAU, BAHAMAS – As negotiations between the Inagua-based Morton Salt Company and the union representing workers remain at an impasse, president of the Trade Union Congress (TUC), Obie Ferguson, on Wednesday referred to the ongoing situation as one that was very ‘sad’. “It’s a sad situation. Very, very, very sad,” Ferguson told Eyewitness News. “Morton […]

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Maynard: BPL must act quickly to shore up generation

  Union leader believes BPL will be in a reasonable position heading into summer NASSAU, BAHAMAS – Bahamas Electrical Workers Union (BEWU) President Paul Maynard said yesterday that while Bahamas Power and Light (BPL) has a short window to shore up its summer plans, inclusive of acquiring additional generation capacity, he believes once done, the […]

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BTC JA company wins product of the year

NASSAU, BAHAMAS – BTC’s Junior Achievement Company, BTC C.T.R.L (Cultivating The Right Leaders) walked away with bragging rights, winning the annual “Product of the Year” competition. The students prepared a customized, all Bahamian coloring and activity booked aimed at elementary school students. Thus far, the students have sold over 500 copies of the activity book. […]

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