Business

BusinessAugust 30, 2024 at 4:36 am Natario McKenzie

Business

Carnival Exec: “We’re here to stay” as New Celebration Key HQ opens

NASSAU, BAHAMAS- A Carnival executive said yesterday that the $600 million Celebration Key development, the company’s largest destination worldwide, further solidifies its commitment to Grand Bahama, with the company opening its new office and headquarters for Celebration Key on the island. Marie McKenzie, Carnival Corporation’s Vice President of Global Ports and Caribbean Government Relations, said, […]

NASSAU, BAHAMAS- A Carnival executive said yesterday that the $600 million Celebration Key development, the company’s largest destination worldwide, further... read more »

August 30, 2024 at 4:36 am | Natario McKenzie

BusinessAugust 29, 2024 at 4:35 am Natario McKenzie

Business

Opposition ‘prayerful and hopeful’ for real Grand Lucayan deal

NASSAU, BAHAMAS — The Opposition is “prayerful and hopeful” that the Davis administration has secured a real deal for the sale of the Grand Lucayan hotel property that will benefit the people of Grand Bahama, according to its Leader During a press conference, Michael Pintard pointed out that the Davis administration has had three years—more […]

NASSAU, BAHAMAS — The Opposition is “prayerful and hopeful” that the Davis administration has secured a real deal for the... read more »

August 29, 2024 at 4:35 am | Natario McKenzie

BusinessAugust 29, 2024 at 4:03 am Natario McKenzie

Business

Bahamian-owned group to lead environmental development for Royal Beach Club Paradise Island

NASSAU, THE BAHAMAS – Royal Caribbean International has engaged SEV Consulting Group, a leading Bahamian-owned environmental consulting firm, to provide independent environmental monitoring for the construction and operation of the Royal Beach Club on Paradise Island. This partnership is part of Royal Caribbean’s commitment to uphold environmental standards while creating the 17-acre beachfront destination, set […]

NASSAU, THE BAHAMAS – Royal Caribbean International has engaged SEV Consulting Group, a leading Bahamian-owned environmental consulting firm, to provide... read more »

August 29, 2024 at 4:03 am | Natario McKenzie

BusinessAugust 29, 2024 at 4:02 am Natario McKenzie

Business

Hubert Edwards steps down as ORG Economic Committee Chair, Liam Miller joins team

NASSAU, BAHAMAS — The Organization for Responsible Governance (ORG) announced that Hubert Edwards, who served as Chair of the Economic Development Committee, is stepping down from ORG’s Board to pursue a new professional opportunity. Although stepping back from his leadership role, ORG noted that Edwards remains deeply committed to its mission. ORG also noted that […]

NASSAU, BAHAMAS — The Organization for Responsible Governance (ORG) announced that Hubert Edwards, who served as Chair of the Economic... read more »

August 29, 2024 at 4:02 am | Natario McKenzie

BusinessAugust 28, 2024 at 4:30 am Natario McKenzie

Business

FNM Chairman defends party’s banking reform stance, rejects criticism from Sir Franklyn

NASSAU, BAHAMAS — Free National Movement (FNM) Chairman Dr. Duane Sands has reiterated that the party remains committed to a bipartisan approach to banking reform in the country, emphasizing that it will not be distracted by “an entitled few with all manner of vested and special interests.” His comments were in response to recent remarks […]

NASSAU, BAHAMAS — Free National Movement (FNM) Chairman Dr. Duane Sands has reiterated that the party remains committed to a... read more »

August 28, 2024 at 4:30 am | Natario McKenzie

BusinessAugust 28, 2024 at 4:01 am Natario McKenzie

Business

Carnival to enhance Half Moon Cay amid new Celebration Key investment

NASSAU, BAHAMAS — As Carnival Corporation invests in Celebration Key, its new private cruise port destination in Grand Bahama, the company will also expand its existing private destination, Half Moon Cay. The enhancements will include an expanded beach, upgraded dining and beverage experiences, and a pier to accommodate larger ships. Primarily used by Holland America […]

NASSAU, BAHAMAS — As Carnival Corporation invests in Celebration Key, its new private cruise port destination in Grand Bahama, the... read more »

August 28, 2024 at 4:01 am | Natario McKenzie

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BusinessAugust 27, 2024 at 4:45 am Natario McKenzie

Business

Pintard condemns “disgraceful” feud and deflection between Government and GBPA

NASSAU, BAHAMAS — Opposition leader Michael Pintard says that the “childish row” between the Port Authority and the government is “shameful and disgraceful” and only hurts the people of Grand Bahama, arguing that both sides were deflecting blame onto each other for their shared responsibility for the state of the Grand Bahama economy. During an […]

NASSAU, BAHAMAS — Opposition leader Michael Pintard says that the “childish row” between the Port Authority and the government is... read more »

August 27, 2024 at 4:45 am | Natario McKenzie

BusinessAugust 27, 2024 at 4:03 am Natario McKenzie

Business

Blue Action partners with Barbados for regional sustainable development

NASSAU, BAHAMAS — Grand Bahama-based Blue Action (BA) is teaming up with FutureBARBADOS, a think tank from the Prime Minister’s Office in Barbados, to develop and accelerate climate-resilient technologies and coastal resilience models across the Caribbean. This collaboration aims to build the blue and green economy, support local entrepreneurs, and promote innovative technologies in Barbados, […]

NASSAU, BAHAMAS — Grand Bahama-based Blue Action (BA) is teaming up with FutureBARBADOS, a think tank from the Prime Minister’s... read more »

August 27, 2024 at 4:03 am | Natario McKenzie

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BusinessAugust 26, 2024 at 4:59 am Natario McKenzie

Business

Central Bank eyes greater consumer protections in banking sector as politicians lament status quo

NASSAU, BAHAMAS — The Central Bank is exploring broader reform proposals on fee-setting practices for financial institutions, such as banks, which could enable the government to legislate consumer protection and market conduct standards applicable to credit products. These reforms could also grant the Offices of the Financial Services Ombudsman statutory independence. In its latest semi-annual […]

NASSAU, BAHAMAS — The Central Bank is exploring broader reform proposals on fee-setting practices for financial institutions, such as banks,... read more »

August 26, 2024 at 4:59 am | Natario McKenzie

BusinessAugust 23, 2024 at 4:30 am Natario McKenzie 1

Business

Inland Revenue urges use of stamp tax amnesty

NASSAU, BAHAMAS — The Department of Inland Revenue is urging property owners who suspect their conveyances were not properly stamped when their property was purchased or willed to them to take advantage of its stamp amnesty. This amnesty allows them to pay stamp tax based on the value of the land at the time it […]

NASSAU, BAHAMAS — The Department of Inland Revenue is urging property owners who suspect their conveyances were not properly stamped... read more »

August 23, 2024 at 4:30 am | Natario McKenzie | 1

BusinessAugust 23, 2024 at 4:03 am Natario McKenzie

Business

Government to expedite establishment of Bahamian Contractors Board

NASSAU, BAHAMAS – The government plans to accelerate the establishment of the Bahamian Contractors Board, which will oversee the licensing and certification of contractors in the Bahamian construction sector, according to Acting Press Secretary in the Office of the Prime Minister, Keishla Smith. Referring to the Bahamian Contractors Association, Smith said: “They have been airing […]

NASSAU, BAHAMAS – The government plans to accelerate the establishment of the Bahamian Contractors Board, which will oversee the licensing... read more »

August 23, 2024 at 4:03 am | Natario McKenzie

BusinessAugust 23, 2024 at 4:03 am Natario McKenzie

Business

URCA unveils draft ‘roadmap’ for 5G deployment in The Bahamas

NASSAU, BAHAMAS — URCA has developed a draft ‘roadmap’ to identify and address regulatory and policy issues essential for the deployment of 5G technology in The Bahamas. The regulator which has published a consultation document on the roadmap to enable 5G deployment in The Bahamas noted that it recognizes that reliable, high-speed broadband connectivity and […]

NASSAU, BAHAMAS — URCA has developed a draft ‘roadmap’ to identify and address regulatory and policy issues essential for the... read more »

August 23, 2024 at 4:03 am | Natario McKenzie

BusinessAugust 23, 2024 at 4:02 am Natario McKenzie

Business

75 percent of businesses request extensions for audited financial statements

NASSAU, BAHAMAS — A top Inland Revenue official has revealed that approximately 75 percent of businesses required to submit full audited financial statements have requested extensions, with most submissions expected by October or November. Acting Controller of Inland Revenue, Shunda Strachan, during a weekly press briefing at the Office of the Prime Minister, said: “The […]

NASSAU, BAHAMAS — A top Inland Revenue official has revealed that approximately 75 percent of businesses required to submit full... read more »

August 23, 2024 at 4:02 am | Natario McKenzie

BusinessAugust 22, 2024 at 4:05 am Natario McKenzie 1

Business

Proper analysis of bank fee hikes urged before reform

NASSAU, BAHAMAS — A former chairman of the Clearing Banks Association has stressed the need for a proper analysis of banking fee increases before implementing bank reform, adding that all banks should not be “lumped together.” Kenrick Brathwaite, a former banker, told Eyewitness News: “Canadian banks are moving away from the Family Islands, they are […]

NASSAU, BAHAMAS — A former chairman of the Clearing Banks Association has stressed the need for a proper analysis of... read more »

August 22, 2024 at 4:05 am | Natario McKenzie | 1

BusinessAugust 22, 2024 at 4:02 am Natario McKenzie

Business

Androsians explore digital banking solutions amid lack of traditional banking facilities

NASSAU, BAHAMAS — In what was considered a near-record turnout, more than 70 Androsians packed a town hall meeting in North Andros to address the ongoing challenge of living and working on an island without brick-and-mortar banking facilities. Attendees gathered to explore digital payment solutions presented by The Central Bank and various financial service providers. […]

NASSAU, BAHAMAS — In what was considered a near-record turnout, more than 70 Androsians packed a town hall meeting in... read more »

August 22, 2024 at 4:02 am | Natario McKenzie

BusinessAugust 22, 2024 at 4:02 am Natario McKenzie

Business

Carnival Corporation launches free workshops to boost opportunities for small businesses at Celebration Key

NASSAU, BAHAMAS – Carnival Corporation will kick off a series of free workshops today, offering the Grand Bahama business community a valuable opportunity to learn more about developments at Celebration Key, particularly the opportunities available to small businesses, whether established or in their early stages. The free workshop series, beginning on August 22, is designed […]

NASSAU, BAHAMAS – Carnival Corporation will kick off a series of free workshops today, offering the Grand Bahama business community... read more »

August 22, 2024 at 4:02 am | Natario McKenzie

BusinessAugust 21, 2024 at 4:40 am Natario McKenzie 1

Business

URCA proposes expanding content regulation to digital and social media in revised code

NASSAU, BAHAMAS — The Utilities Regulation & Competition Authority (URCA) has released a consultation document proposing revisions to the Code of Practice for Content Regulation, including extending its applicability to broadcast licensees’ digital and social media platforms. These amendments aim to modernize and enhance broadcasting standards in The Bahamas According to the regulator, the revised […]

NASSAU, BAHAMAS — The Utilities Regulation & Competition Authority (URCA) has released a consultation document proposing revisions to the Code... read more »

August 21, 2024 at 4:40 am | Natario McKenzie | 1

BusinessAugust 21, 2024 at 4:30 am Natario McKenzie

Business

Young Grand Bahamian scientists lead efforts to preserve and sustain conch population at Blue Action Lab

NASSAU, BAHAMAS – Two young Grand Bahamian scientists are dedicating their efforts to ensuring that Bahamians can enjoy and benefit from the country’s prized conch population for generations. Lachelle Russell and Kristian Moree have joined the team at the Grand Bahama Queen Conch Mariculture Center at Blue Action Lab’s (BAL) Conservation Cove as Aquaculture Technicians. […]

NASSAU, BAHAMAS – Two young Grand Bahamian scientists are dedicating their efforts to ensuring that Bahamians can enjoy and benefit... read more »

August 21, 2024 at 4:30 am | Natario McKenzie

BusinessAugust 21, 2024 at 4:26 am Natario McKenzie

Business

URCA begins public consultation on electronic communications sector licence review

NASSAU, BAHAMAS — The Utilities Regulation and Competition Authority (URCA) has launched a public consultation process to review and modify existing Electronic Communications Sector (ECS) licenses. This initiative aims to maintain a regulatory framework that is robust, equitable, and aligned with the evolving needs of both the industry and the Bahamian public. The review will […]

NASSAU, BAHAMAS — The Utilities Regulation and Competition Authority (URCA) has launched a public consultation process to review and modify... read more »

August 21, 2024 at 4:26 am | Natario McKenzie

BusinessAugust 20, 2024 at 4:06 am Natario McKenzie

Business

Insurer warns elevated reinsurance rates likely to persist

NASSAU, BAHAMAS – A leading insurer has indicated that global reinsurers are unlikely to expand their exposure in this region anytime soon, which suggests that reinsurance rates will remain elevated, with the company actively seeking alternative sources of capacity, particularly for storm coverage. Alister I. McKellar, Managing Director of the BISX-listed insurance broker, stated in […]

NASSAU, BAHAMAS – A leading insurer has indicated that global reinsurers are unlikely to expand their exposure in this region... read more »

August 20, 2024 at 4:06 am | Natario McKenzie