Business

BusinessSeptember 25, 2023 at 4:15 am Natario McKenzie

Business

AML Foods sees $3.2 million Q1 sales increase, inflationary pressures continue

NASSAU, BAHAMAS — AML Foods saw an increase in its sales of just over $3 million in its first quarter results for 2024, while acknowledging that inflation pressures continue to impact its business. According to the company’s results for the first quarter, which ended July 31, sales for the period were $47 million, an improvement […]

NASSAU, BAHAMAS — AML Foods saw an increase in its sales of just over $3 million in its first quarter... read more »

September 25, 2023 at 4:15 am | Natario McKenzie

BusinessSeptember 25, 2023 at 4:10 am Natario McKenzie

Business

Government accepts URCA’s findings that third mobile operator “not commercially viable” at this time

NASSAU, BAHAMAS- The government has determined that based on recommendations from the Utilities Regulation and Competition Authority (URCA), that a third mobile operator would not be “commercially viable” at this time. The findings were unveiled in the regulator’s draft electronic communication’s sector policy for 2023-2026. It was noted that under the 2020 – 2023 ECS […]

NASSAU, BAHAMAS- The government has determined that based on recommendations from the Utilities Regulation and Competition Authority (URCA), that a... read more »

September 25, 2023 at 4:10 am | Natario McKenzie

BusinessSeptember 25, 2023 at 4:04 am Natario McKenzie

Business

DPM to lead trade mission to Qatar

NASSAU, BAHAMAS — Deputy Prime Minister and Minister of Tourism, Investments and Aviation Chester Cooper will lead a team from his ministry, along with a tourism delegation and other government officials, on a trade mission to West Asia to solidify aviation development and tourism agreements. The Ministry says this trip is the latest measure in pursuit […]

NASSAU, BAHAMAS — Deputy Prime Minister and Minister of Tourism, Investments and Aviation Chester Cooper will lead a team from his... read more »

September 25, 2023 at 4:04 am | Natario McKenzie

BusinessSeptember 23, 2023 at 4:30 am Jayson Braynen

Business

Barefoot Wines takes on International Coastal Clean Up Day

NASSAU, BAHAMAS — The Barefoot Wines team partnered with local organizations and took to the shores of Adelaide Beach to engage in a day of community service. The initiative took place on September 16, designated International Coastal Clean Up Day, a global initiative geared towards highlighting the importance of keeping our coastal areas and waterways litter-free. […]

NASSAU, BAHAMAS — The Barefoot Wines team partnered with local organizations and took to the shores of Adelaide Beach to... read more »

September 23, 2023 at 4:30 am | Jayson Braynen

BusinessSeptember 23, 2023 at 4:27 am Jayson Braynen

Business

Doctors Hospital secures financing to construct new hospital in Grand Bahama

NASSAU, BAHAMAS — Doctors Hospital Health System Limited (“DHHS”) is aiming to revolutionize healthcare services on the island of Grand Bahama with plans to build a new hospital. Construction is scheduled to be completed in the fall of 2024 and is expected to significantly improve access to medical care for residents on the island. Offering […]

NASSAU, BAHAMAS — Doctors Hospital Health System Limited (“DHHS”) is aiming to revolutionize healthcare services on the island of Grand... read more »

September 23, 2023 at 4:27 am | Jayson Braynen

BusinessSeptember 22, 2023 at 4:10 am Natario McKenzie

Business

“CRAZY GROWTH”: BPL sees eight percent increase in peak summer load

NASSAU, BAHAMAS —Bahamas Power and Light (BPL) saw a roughly eight percent increase in its peak summer load on New Providence, according to a senior company executive, describing it as “crazy growth.” “Our load went up eight percent this summer over last year. The peak on Abaco this summer was around 21 megawatts. Growth in […]

NASSAU, BAHAMAS —Bahamas Power and Light (BPL) saw a roughly eight percent increase in its peak summer load on New... read more »

September 22, 2023 at 4:10 am | Natario McKenzie

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BusinessSeptember 22, 2023 at 4:05 am Natario McKenzie

Business

New Mexican restaurant shines in its opening days

NASSAU, BAHAMAS — A vibrant selection of cocktails, invigorating ceviches, and world-class tacos have made their debut at Salsa Mexican Bar & Grill, a newly launched Mexican restaurant in downtown Nassau. Situated on the waterfront within the Elizabeth on Bay Plaza, the establishment’s proprietors hope to satisfy the demand for an authentic Mexican dining experience […]

NASSAU, BAHAMAS — A vibrant selection of cocktails, invigorating ceviches, and world-class tacos have made their debut at Salsa Mexican... read more »

September 22, 2023 at 4:05 am | Natario McKenzie

BusinessSeptember 22, 2023 at 4:03 am Natario McKenzie

Business

Reformer says S&P analysis should be “celebrated with caution”

NASSAU, BAHAMAS — Standard & Poor’s latest analysis of The Bahamas should be considered in a positive light but celebrated with caution, according to a governance reformer. Hubert Edwards, head of the Organization for Responsible Governance (ORG) economic development committee, speaking on the rating agency’s latest full analysis report on The Bahamas, said: “S&P’s conclusion, […]

NASSAU, BAHAMAS — Standard & Poor’s latest analysis of The Bahamas should be considered in a positive light but celebrated... read more »

September 22, 2023 at 4:03 am | Natario McKenzie

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BusinessSeptember 21, 2023 at 4:30 am Natario McKenzie

Business

Government says S&P’s analysis broadly in line with its assessment of macroeconomic conditions

NASSAU, BAHAMAS — The Ministry of Finance said yesterday that Standard & Poor’s latest full analysis report on The Bahamas was broadly in line with the government’s assessment of macroeconomic conditions, which continue to be underpinned by strong tourism gains alongside steady foreign investment inflows. The Ministry of Finance in a statement noted that S&P’s […]

NASSAU, BAHAMAS — The Ministry of Finance said yesterday that Standard & Poor’s latest full analysis report on The Bahamas... read more »

September 21, 2023 at 4:30 am | Natario McKenzie

BusinessSeptember 21, 2023 at 4:18 am Natario McKenzie

Business

$100 million pumped into British Colonial renovation

NASSAU, BAHAMAS — More than $100 million has been invested into the renovation of the British Colonial, which is gearing up for its reopening. According to the hotel’s general manager, the hotel is looking to hire more than 300 staff. “Our corporate parent has put in over $100 million to do a complete renovation. I […]

NASSAU, BAHAMAS — More than $100 million has been invested into the renovation of the British Colonial, which is gearing... read more »

September 21, 2023 at 4:18 am | Natario McKenzie

BusinessSeptember 21, 2023 at 4:10 am Natario McKenzie

Business

FCIB Bahamas reports $12 million year-over-year increase in Q3 net income

NASSAU, BAHAMAS — FirstCaribbean International Bank (Bahamas) has reported a $12 million year-over-year increase in its third-quarter net income. Jacqui Bend, the Bank’s managing director, noted that the Bank’s third-quarter net income was $30.9 million, up $12 million or 64 percent from the Bank’s third-quarter net income of $18.9 million a year ago. For the […]

NASSAU, BAHAMAS — FirstCaribbean International Bank (Bahamas) has reported a $12 million year-over-year increase in its third-quarter net income. Jacqui... read more »

September 21, 2023 at 4:10 am | Natario McKenzie

BusinessSeptember 21, 2023 at 4:07 am Natario McKenzie

Business

Tourism Development Corp teams up with Royal Caribbean for multi-island pitch competition

NASSAU, BAHAMAS — In celebration of the country’s 50th independence anniversary, the Tourism Development Corporation (TDC) has teamed up with the Royal Caribbean International to launch a multi-island pitch competition and training program. The 50×50 Program and Venture Pitch Competition initiative seeks to give 50 budding entrepreneurs access to training, technical support, and their share […]

NASSAU, BAHAMAS — In celebration of the country’s 50th independence anniversary, the Tourism Development Corporation (TDC) has teamed up with... read more »

September 21, 2023 at 4:07 am | Natario McKenzie

BusinessSeptember 20, 2023 at 4:30 am Natario McKenzie

Business

Trade data shows increases in import and export for Q2 2023

NASSAU, BAHAMAS — Data on merchandise trade for the second quarter of 2023 reveals that the value of commodities imported into The Bahamas amounted to $1,094 billion, marking a substantial increase of 35 percent in comparison to the corresponding period of the previous year. The primary categories of merchandise imports were mineral fuel, lubricants, and […]

NASSAU, BAHAMAS — Data on merchandise trade for the second quarter of 2023 reveals that the value of commodities imported... read more »

September 20, 2023 at 4:30 am | Natario McKenzie

BusinessSeptember 20, 2023 at 4:02 am Natario McKenzie

Business

Fintech festival to ignite discussions on technological revolution of financial services

NASSAU, BAHAMAS — The highly anticipated D3 Fintech Festival, scheduled for next month at the Atlantis Resort is poised to be a dynamic hub for discussions on how technology can revolutionize financial services and propel the industry forward, according to the event’s organizers. The Securities Commission of The Bahamas, in collaboration with the Government of […]

NASSAU, BAHAMAS — The highly anticipated D3 Fintech Festival, scheduled for next month at the Atlantis Resort is poised to... read more »

September 20, 2023 at 4:02 am | Natario McKenzie

BusinessSeptember 19, 2023 at 4:45 am Natario McKenzie

Business

“MORE THAN SUFFICIENT EVIDENCE” to shutter ArawakX, Securities Commission says

NASSAU, BAHAMAS — The Securities Commission is asserting that there is “more than sufficient evidence” to justify the winding-up of the country’s first crowdfunding platform ArawakX, citing its concerns over the company’s solvency as well as alleged governance irregularities and regulatory breaches. In a statement Monday evening, the regulator noted that on Friday September 15th, […]

NASSAU, BAHAMAS — The Securities Commission is asserting that there is “more than sufficient evidence” to justify the winding-up of... read more »

September 19, 2023 at 4:45 am | Natario McKenzie

BusinessSeptember 19, 2023 at 4:20 am Natario McKenzie

Business

PM announces $500 million climate finance initiative

NASSAU, BAHAMAS — During his address at the Clinton Global Initiative meeting in New York, Prime Minister Philip Davis announced a climate finance initiative that aims to raise $500 million US to address climate change and its far-reaching impacts on The Bahamas. Prime Minister Davis emphasized the urgent need for innovative financial solutions to tackle […]

NASSAU, BAHAMAS — During his address at the Clinton Global Initiative meeting in New York, Prime Minister Philip Davis announced... read more »

September 19, 2023 at 4:20 am | Natario McKenzie

BusinessSeptember 19, 2023 at 4:08 am Natario McKenzie

Business

Bahamas Development Bank to bridge global funding and national development

NASSAU, BAHAMAS — The Finance in Common Summit recently held in Columbia gathered national development banks (NDBs), including The Bahamas Development Bank (BDB), and emphasized the msignificantrole they play as a link between international and domestic finance related to project development financing and micro, small and medium enterprises (MSME) lending. The event noted that $4-5 […]

NASSAU, BAHAMAS — The Finance in Common Summit recently held in Columbia gathered national development banks (NDBs), including The Bahamas... read more »

September 19, 2023 at 4:08 am | Natario McKenzie

BusinessSeptember 18, 2023 at 4:15 am Natario McKenzie

Business

Strong interest in Bahamas’ financial services at international conference

Local association says enthusiasm bodes well for the industry and for its own upcoming STEP event NASSAU, BAHAMAS — The Bahamas puts its best foot forward with an impressive presence at the annual STEP LATAM Conference held in Bogota, Colombia, with industry experts from around the world showing strong interest in Bahamian financial services. The […]

Local association says enthusiasm bodes well for the industry and for its own upcoming STEP event NASSAU, BAHAMAS — The... read more »

September 18, 2023 at 4:15 am | Natario McKenzie

BusinessSeptember 18, 2023 at 4:05 am Natario McKenzie

Business

“I WENT TO CULINARY SCHOOL AT SANDALS”

NASSAU, BAHAMAS — If you hope to excel in the culinary field, but you lack the resources to pursue further studies, then Senior Sous Chef and Banquet Chef at Sandals Royal Bahamian, Thomas Reckley, may serve as the perfect source of inspiration. Reckley, 45, began working at Sandals Royal Bahamian in 1997. He had just […]

NASSAU, BAHAMAS — If you hope to excel in the culinary field, but you lack the resources to pursue further... read more »

September 18, 2023 at 4:05 am | Natario McKenzie

BusinessSeptember 15, 2023 at 4:15 am Natario McKenzie

Business

Foreign arrivals up 45 percent in Q2, Central Bank reports

NASSAU, BAHAMAS — Foreign arrivals to this destination grew by slightly over 45 percent to 2.4 million during the second quarter, according to data released by the Central Bank. In its quarterly economic review for June, the regulator noted that information from the Ministry of Tourism revealed that foreign arrivals grew by 45.2 percent to […]

NASSAU, BAHAMAS — Foreign arrivals to this destination grew by slightly over 45 percent to 2.4 million during the second... read more »

September 15, 2023 at 4:15 am | Natario McKenzie