Business – Eye Witness News

BusinessOctober 21, 2021 at 3:54 am Natario McKenzie

Business

PM “engaging with experts” to formulate position on oil drilling

NASSAU, BAHAMAS — Prime Minister Philip Davis is “engaging with experts” to determine his administration’s position on oil drilling going forward, according to Press Secretary Clint Watson. Watson advised the Prime Minister has engaged the experts to determine whether his position on the matter will change or remain the same, during the first Office of […]

NASSAU, BAHAMAS — Prime Minister Philip Davis is “engaging with experts” to determine his administration’s position on oil drilling going... read more »

October 21, 2021 at 3:54 am | Natario McKenzie

BusinessOctober 21, 2021 at 3:46 am Natario McKenzie

Business

Former admin claims “strong foundation” left for Prospect Ridge development

NASSAU, BAHAMAS — Senator Viana Gardiner yesterday fired back against claims by Housing Minister JoBeth Coleby-Davis that nothing has been done to create a master plan for the Prospect Ridge Community for Young Professionals, noting that the development had advanced further and faster than any similar subdivision. Senator Gardiner, former chief operations officer in the […]

NASSAU, BAHAMAS — Senator Viana Gardiner yesterday fired back against claims by Housing Minister JoBeth Coleby-Davis that nothing has been... read more »

October 21, 2021 at 3:46 am | Natario McKenzie

BusinessOctober 21, 2021 at 3:44 am Natario McKenzie

Business

Housing: Government moving ahead with 21-lot Abaco development

NASSAU, BAHAMAS — The government is moving ahead with a 21-lot subdivision in Spring City, Abaco, according to Housing Minister JoBeth Coleby-Davis. At the first Office of the Prime Minster press briefing, Coleby-Davis said: “Our first priority was to look at how we can assist the persons in Abaco because we understand that they suffered […]

NASSAU, BAHAMAS — The government is moving ahead with a 21-lot subdivision in Spring City, Abaco, according to Housing Minister... read more »

October 21, 2021 at 3:44 am | Natario McKenzie

BusinessOctober 20, 2021 at 3:55 am Natario McKenzie

Business

NO APPROVALS HERE: Govt opposes power rate hike on GB; Cabinet committee to review matter

“The government of The Bahamas will not support any rate increase on any portion of the customer base on Grand Bahama Island at this time” Moxey: The application for rate increase is just that — an application NASSAU, BAHAMAS — The government has established a Cabinet committee to review and address the Grand Bahama Power […]

“The government of The Bahamas will not support any rate increase on any portion of the customer base on Grand... read more »

October 20, 2021 at 3:55 am | Natario McKenzie

BusinessOctober 20, 2021 at 3:45 am Natario McKenzie

Business

TOUGH SELL: Advocacy group slams GBPC’s rate increase proposal as “insensitive” and “out of touch”

GBPC says rate hike undesirable but necessary to maintain operations Coalition of Concerned Citizens prepared to protest “at a level we have never done before” FREEPORT, GRAND BAHAMA — An advocacy group has slammed the Grand Bahama Power Company (GBPC) as being “insensitive” and “out of touch” over a four percent rate increase application. The […]

GBPC says rate hike undesirable but necessary to maintain operations Coalition of Concerned Citizens prepared to protest “at a level... read more »

October 20, 2021 at 3:45 am | Natario McKenzie

BusinessOctober 20, 2021 at 3:43 am Natario McKenzie 1

Business

EXPECT EMPTY SHELVES: Shipping and supply challenges may persist into 2024, warns major distributor

“We thought it was bad last year but it has certainly gotten worse” d’Albenas, AML Foods note struggle to keep shelves well stocked NASSAU, BAHAMAS — A prominent Bahamian distributor yesterday warned that shipping and supply challenges may persist into 2024, telling Eyewitness News they have “never seen it this bad”. Philip G Smith, the […]

“We thought it was bad last year but it has certainly gotten worse” d’Albenas, AML Foods note struggle to keep... read more »

October 20, 2021 at 3:43 am | Natario McKenzie | 1

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BusinessOctober 19, 2021 at 3:41 am Natario McKenzie

Business

FROM BAHAMAS TO BIG BEN: Tourism ministry hires firm to boost nation’s visibility in UK market

NASSAU, BAHAMAS — The Bahamas Ministry of Tourism, Investments and Aviation (BMOTIA) is aiming to increase the country’s brand visibility in the UK market, having hired global independent marketing and communications firm FINN Partners to provide public relations services for the islands in the United Kingdom. The UK office will reportedly also act as the […]

NASSAU, BAHAMAS — The Bahamas Ministry of Tourism, Investments and Aviation (BMOTIA) is aiming to increase the country’s brand visibility... read more »

October 19, 2021 at 3:41 am | Natario McKenzie

BusinessOctober 19, 2021 at 3:39 am Natario McKenzie

Business

ArawakX awarded $400K in financing from Bahamas Development Bank in orange economy investment push

BDB awards over $400,000 in financing to crowdfunding NASSAU, BAHAMAS — Fintech in The Bahamas has found a champion in the Bahamas Development Bank (BDB), which has awarded over $400,000 in financing to local crowdfunding platform ArawakX. This financing is said to be part of the bank’s push to invest in the orange economy, which […]

BDB awards over $400,000 in financing to crowdfunding NASSAU, BAHAMAS — Fintech in The Bahamas has found a champion in... read more »

October 19, 2021 at 3:39 am | Natario McKenzie

BusinessOctober 19, 2021 at 3:33 am Eyewitness News 1

Business

Minister Halkitis promotes Bahamas Financial Services sector in address at STEP LatAM 2021 Conference

NASSAU, BAHAMAS — This past Friday, October 15, Minister of Economic Affairs Michael Halkitis addressed the annual STEP LatAm conference on The Bahamas’ strengths as a financial services jurisdiction to lead off the final day of conference activities. STEP LatAm is the premier regional conference for trust and estate practitioners in the region. The government […]

NASSAU, BAHAMAS — This past Friday, October 15, Minister of Economic Affairs Michael Halkitis addressed the annual STEP LatAm conference... read more »

October 19, 2021 at 3:33 am | Eyewitness News | 1

BusinessOctober 18, 2021 at 5:06 pm Eyewitness News

Business

BISX and RF Bank & Trust team up for World Investor Week

NASSAU, BAHAMAS — The Bahamas International Securities Exchange (BISX), affiliate member of the International Organization of Securities Commissions (IOSCO), and RF Bank & Trust (RF) have partnered to participate in World Investor Week (WIW) during the week of October 18, 2021. To commemorate WIW locally, BISX and RF will present a week of resources for […]

NASSAU, BAHAMAS — The Bahamas International Securities Exchange (BISX), affiliate member of the International Organization of Securities Commissions (IOSCO), and... read more »

October 18, 2021 at 5:06 pm | Eyewitness News

BusinessOctober 18, 2021 at 3:51 am Natario McKenzie

Business

NOTICE OF APPEAL: Govt to contest Supreme Court ruling that invalidates VBIs signed by assistant DPP

Ruling could effectively nullify any voluntary bill of indictment signed by David Bakibinga NASSAU, BAHAMAS — Attorney General Ryan Pinder confirmed yesterday that the director of public prosecutions (DPP) has filed a notice of appeal against a recent Supreme Court ruling that found a voluntary bill of indictment (VBI) signed by Assistant Director of Public […]

Ruling could effectively nullify any voluntary bill of indictment signed by David Bakibinga NASSAU, BAHAMAS — Attorney General Ryan Pinder... read more »

October 18, 2021 at 3:51 am | Natario McKenzie

BusinessOctober 18, 2021 at 3:47 am Natario McKenzie

Business

DON’T LET IT GO TO WASTE: Senator urges govt to follow through on Prospect Ridge housing development

“I hope all the people who applied wouldn’t feel like their time was wasted” Housing minister says project is under review but senator asks how long applicants will have to wait NASSAU, BAHAMAS — An opposition senator yesterday urged the government to expedite its review of the Prospect Ridge Community for Young Professionals and follow […]

“I hope all the people who applied wouldn’t feel like their time was wasted” Housing minister says project is under... read more »

October 18, 2021 at 3:47 am | Natario McKenzie

BusinessOctober 18, 2021 at 3:45 am Gabrielle Sterling

Business

BOLSTERING BUSINESS: Chinese ambassador urges Bahamians to take advantage of largest trade fair in China

“We are working with the BCCEC to foster greater awareness of the Canton Fair and encourage more business leaders to access it online” NASSAU, BAHAMAS — Chinese Premier Li Keqiang commenced the 130th session of the China Import and Export Fair, or the Canton Fair, last Friday, granting Bahamian business leaders and foreign buyers alike […]

“We are working with the BCCEC to foster greater awareness of the Canton Fair and encourage more business leaders to... read more »

October 18, 2021 at 3:45 am | Gabrielle Sterling

BusinessOctober 18, 2021 at 3:43 am Natario McKenzie

Business

‘HE WILL HONOR IT’: Entrepreneur confident PM Davis will resolve 10-year struggle over PI Crown land lease

Toby Smith remains embroiled in court battle over PI Crown land NASSAU, BAHAMAS — The entrepreneur behind the proposed $2 million restoration of Paradise Island’s lighthouse said yesterday that he has “every confidence” the Davis administration will honor his Crown land lease. Toby Smith, principal of Paradise Island Lighthouse & Beach Club company, in an […]

Toby Smith remains embroiled in court battle over PI Crown land NASSAU, BAHAMAS — The entrepreneur behind the proposed $2... read more »

October 18, 2021 at 3:43 am | Natario McKenzie

BusinessOctober 18, 2021 at 3:41 am Natario McKenzie

Business

Thousands tune in to ArawakX inaugural ecosystem seminar

NASSAU, BAHAMAS — Under the theme of “How to Grow the Economy Multiple Times”, the inaugural Investor Ecosystem Seminar was held at Baha Mar. While due to COVID restrictions only 100 guests were in attendance, thousands of Bahamians attended the sessions via Zoom and Facebook. D’Arcy Rahming Jr, ArawakX chief technology officer, said: “People now know […]

NASSAU, BAHAMAS — Under the theme of “How to Grow the Economy Multiple Times”, the inaugural Investor Ecosystem Seminar was... read more »

October 18, 2021 at 3:41 am | Natario McKenzie

BusinessOctober 16, 2021 at 3:32 am Eyewitness News

Business

CG Atlantic agents begin offering quote & buy online

“There is no need for anyone to leave the comfort of their home or take time out of their busy day to come into our offices” NASSAU, BAHAMAS — Nassau Insurance Brokers and Agents Limited (trading as CG Atlantic Agents), the exclusive agent and broker of Security & General Insurance Limited (trading as CG Atlantic […]

“There is no need for anyone to leave the comfort of their home or take time out of their busy... read more »

October 16, 2021 at 3:32 am | Eyewitness News

BusinessOctober 15, 2021 at 3:59 am Natario McKenzie

Business

INTERVENTION: PM commits to adjusting 7-year wait for insurance payout for missing victims

“Apart from the financial burden this imposes, the psychological burden is immense” Davis says his administration will bring relief to Abaco despite fiscal challenges NASSAU, BAHAMAS — Prime Minister Philip Brave Davis said his administration is reviewing the seven-year wait requirement for missing individuals to formally be declared dead, asserting it “cannot be right” for […]

“Apart from the financial burden this imposes, the psychological burden is immense” Davis says his administration will bring relief to... read more »

October 15, 2021 at 3:59 am | Natario McKenzie

BusinessOctober 15, 2021 at 3:53 am Natario McKenzie 1

Business

RESPONDING TO THE TIMES: RBC blames local economic conditions for switch to 0% interest on savings accounts

“For more than 100 years, we have provided dedicated service to the country and been a good corporate citizen” NASSAU, BAHAMAS — Royal Bank of Canada (RBC) said yesterday that its decision to adjust interest rates on savings accounts and term deposits to zero percent is in response to local market and economic conditions. The […]

“For more than 100 years, we have provided dedicated service to the country and been a good corporate citizen” NASSAU,... read more »

October 15, 2021 at 3:53 am | Natario McKenzie | 1

BusinessOctober 15, 2021 at 3:51 am Natario McKenzie

Business

HEFTY HURRICANE CLEANUP BILL: Roughly $17 million spent on Abaco debris management to date

“We have to find ways to monetize this debris and move it from Abaco because if there is another storm, debris will be everywhere” MARSH HARBOUR, ABACO — Nearly $10 million has been spent on debris management and $7.3 million on community cleanup on Abaco, according to Aviation Director Algernon Cargill. Cargill had been appointed […]

“We have to find ways to monetize this debris and move it from Abaco because if there is another storm,... read more »

October 15, 2021 at 3:51 am | Natario McKenzie

BusinessOctober 15, 2021 at 3:49 am Natario McKenzie

Business

“TESTING WORKS”: Doctor’s Hospital at just under 700K COVID tests to date; positivity rate lower for regular testers

“Testing was clearly tied to the opening of the economy” DHHS plans to open 30-bed hospital on GB next fall NASSAU, BAHAMAS — Doctor’s Hospital has conducted just under 700,000 COVID-19 tests and found that positivity rates were three times lower for people engaged in weekly employer-mandated testing programs, according to a top executive. Dennis […]

“Testing was clearly tied to the opening of the economy” DHHS plans to open 30-bed hospital on GB next fall... read more »

October 15, 2021 at 3:49 am | Natario McKenzie