Bahamas’ credit outlook improves

DPM: Moodys ‘Stable’ outlook reflects nation in strong position   NASSAU, BAHAMAS – A move by credit ratings agency Moody’s to shift The Bahamas’ credit outlook to ‘stable’ from ‘negative’ yesterday was hailed as a “milestone” by Deputy Prime Minister and Minister of Finance Peter Turnquest. In an update released Thursday, the international agency also […]

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Royal Caribbean Cruise Lines hosts job fair in GB

FREEPORT, GRAND BAHAMA – Dozens of Grand Bahamians had the chance to sign up for immediate employment opportunities on Thursday morning; thanks to a job fair hosted by Royal Caribbean Cruise Lines (RCCL) which is in search of approximately 100 new associates to staff its “Perfect Day,” getaway at Coco Cay. The cruise line hosted […]

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Govt. grants solar exemptions for $2.2 million in goods

NASSAU, BAHAMAS – Businesses that provide solar power equipment and related services are free to apply to the Ministry of Finance to access tax exemptions for the import of solar kits in keeping with the Government’s policy to support renewable energy businesses. Solar kits and components were made duty free during the 2018/2019 budget exercise. […]

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Access Accelerator to sharpen local business model following Jamaica visit

NASSAU, BAHAMAS  – The newly formed Access Accelerator Small Business Development Centre programme is looking to “sharpen” its model following a trip to Jamaica, with executives confirming its more than 3,000 participants will receive specialized guidance to boost their success rate. It may take a while, said Access Accelerator Executive Director Davinia Blair, but the […]

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Financial services sector rebranded as “Clear Choice” for wealth management

NASSAU, BAHAMAS – The Bahamas Financial Services Board chief yesterday announced “Clear Choice” as the new brand for the financial services sector, reaffirming a commitment to compliance following a recent EU listing of The Bahamas as non-cooperative with Anti Money Laundering and Countering Financing of Terrorism (AML/CFT). Outlining in full detail how the nation has […]

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LPIA sees 3.7M passengers in 2018, up 11% overall

Airport expected to maintain traffic levels in 2019    NASSAU, BAHAMAS  – Nassau Airport Development Company (NAD) on Wednesday released its CY2018 passenger figures, revealing a significant jump in traffic at Lynden Pindling International Airport (LPIA). Last year, the airport served 3.7 million (3,693,146) passengers, an increase of 11 per cent over the calendar year […]

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BTC introduces new mobile app

NASSAU, BAHAMAS – The Bahamas Telecommunications Company Limited (BTC) is officially announcing the introduction of the upgraded “My BTC” mobile app. The new mobile app is now available for download in the IOS App Store and the Google Play store. “My BTC” provides real-time access to landline and mobile accounts. Customers are now empowered to […]

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Blockchain internship to prepare local market for billion-dollar industry demand

NASSAU, BAHAMAS – A Bahamas-based blockchain group recently took the first steps to further train and connect skilled local software developers in preparation for the billion-dollar industry’s projected 70 per cent growth in the next five years. Nearly 25 skilled software developers started out on the three-month coding boot camp, organized by the Caribbean Blockchain […]

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Caribbean Blockchain Alliance seeks regulatory framework to direct industry growth

NASSAU, BAHAMAS – The Caribbean Blockchain Alliance (CBA) is seeking to engage The Bahamas government in discussions around potential regulatory framework to direct the industry’s growth and help advance it to the heights seen by regional counterparts. With huge steps taken by countries like Bermuda and Barbados, CBA head Stefen Deleveaux said many companies were […]

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Beckles: More private sector layoffs imminent

If measures are not taken to reduce the high cost of doing business, Chief Executive Officer (CEO) of The Bahamas Chamber of Commerce, Jeffery Beckles, predicts that more layoffs could take place in the private sector. His comments follow the termination of 73 workers from Commonwealth Brewery earlier this week and additional layoffs in Grand […]

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Foulkes addresses ongoing labour woes

NASSAU, BAHAMAS – Following mass layoffs at Commonwealth Brewery on Monday, continuing tension between employees at the Bahamas Telecommunications Company (BTC) and its executive management team and ongoing employee tension at Morton Salt in Inagua; labour minister Dion Foulkes provided Eyewitness News Online with an update on how these labor issues are being actively addressed. […]

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CTO projects tourism growth for the region

NASSAU, BAHAMAS – The Bahamas’ rosy projections for tourism growth this year is being backed by The Caribbean Tourism Organization (CTO), with forecasts of six to seven per cent growth in tourism arrivals around the region for 2019. “The outlook for Caribbean tourism in 2019 is cautiously optimistic,” said the CTO’s Director of Research & […]

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Commonwealth Brewery Limited makes 73 jobs redundant

NASSAU, BAHAMAS – Another group of persons will join the unemployment line as Commonwealth Brewery Limited (CBL) announced on Monday that the jobs of 73 employees were made redundant. A statement released yesterday from the company outlined that CBL recently implemented a new structure for the company’s retail division, 700 Wines and Spirits, and the […]

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Industry insiders say market saturation may have led to CBL job cuts

NASSAU, BAHAMAS – Increasing competition in an “almost saturated” liquor market may have also been a factor in Commonwealth Brewery Ltd.’s decision to terminate 73 employees in a restructuring exercise yesterday. Speaking with Eyewitness Business yesterday, one industry insider said the industry was not as concentrated as it once was and that careful management in […]

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Used oil exports can increase 100 percent with concessions extended to local firm

NASSAU, BAHAMAS – The sole Bahamian firm specializing in the export of lubricant oil says it’s up to its nose in used oil, with exports halted 100 per cent as cheaper global crude oil prices lead United States (U.S.) buyers to forgo the refining process needed for used oil exports from this nation. With the […]

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Govt. points out deficiencies in EU’s “High Risk Third Countries” list

NASSAU, BAHAMAS – The government moved to respond on Sunday to last week’s scathing review by the European Union College of Commissioners, which listed The Bahamas among high-risk countries for Anti-Money Laundering and Counter Terrorism Financing (AML/CFT) deficiencies. The international body believes that The Bahamas has some work to do in regards to cracking down […]

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Bahamasair commissions new 138-seater jet

NASSAU, BAHAMAS – The national flag carrier, Bahamasair, on Thursday commissioned a 138-seater jet, which completes its 125-million-dollar acquisition of nine aircraft for an improved fleet. Tourism and Aviation Minister Dionisio D’Aguilar assured that the new jet is expected to ease the load for the airline that has had its share of operational challenges in […]

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Wilchcombe: Banks should reconsider web shop deposits

NASSAU, BAHAMAS – The Gaming Board’s recent report which “debunked the myth” that domestic gaming houses are at risk of being used to facilitate financial crime should cause Canadian-owned banks in The Bahamas to reconsider their stance against accepting deposits from gaming house operators, according to former Minister of Tourism Obie Wilchcombe. Wilchcombe oversaw the […]

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