BusinessMarch 26, 2019March 26, 2019 at 2:25 am Inderia Saunders

Business

Central Bank: Construction sector to experience a slight slowdown

NASSAU, BAHAMAS – The Central Bank is confirming that the construction sector may experience a slight slowdown as earlier surges in domestic construction have somewhat stalled and small to medium-sized foreign investment projects have kept the country’s construction sector steady. “Construction sector output during the fourth quarter continued to be supported by a number of […]

NASSAU, BAHAMAS – The Central Bank is confirming that the construction sector may experience a slight slowdown as earlier surges... read more »

March 26, 2019March 26, 2019 at 2:25 am | Inderia Saunders

BusinessMarch 7, 2019March 7, 2019 at 2:55 am Inderia Saunders

Business

New Investment Fund Bill a new chapter in Bahamian Financial Services

2019 bill passed in HOA     NASSAU, BAHAMAS – The new Investment Funds Bill, which was passed in parliament on Wednesday, will introduce a “new chapter” in Bahamian Financial Services while attracting new opportunities to the jurisdictions and improving the ease of doing business. Deputy Prime Minister and Minister of Finance, Peter Turnquest said […]

2019 bill passed in HOA     NASSAU, BAHAMAS – The new Investment Funds Bill, which was passed in parliament... read more »

March 7, 2019March 7, 2019 at 2:55 am | Inderia Saunders

BusinessMarch 6, 2019March 6, 2019 at 3:36 am Inderia Saunders

Business

DPM: Opportunities in Disruption

The Bahamas will likely be affected by a new wave of regulations from countries looking to safeguard their tax dollars, according to the Deputy Prime Minister Peter Turnquest. Speaking at Deltec’s annual conference on ‘Trusting Disruption’, the DPM and Minister of Finance Turnquest said disruption has been one of the defining characteristics of the 21st […]

The Bahamas will likely be affected by a new wave of regulations from countries looking to safeguard their tax dollars,... read more »

March 6, 2019March 6, 2019 at 3:36 am | Inderia Saunders

BusinessMarch 6, 2019March 6, 2019 at 3:35 am Royston Jones Jr.

Business

Rise in cost of living, but utilities taper

Economy continues to experience modest growth   NASSAU, BAHAMAS – Notwithstanding a continued rise in the cost of living as a result of consumer price inflation eight months after the government increase value-added tax (VAT), the economy has maintained “modest growth”, according to the Central Bank of The Bahamas. In its most recent Monthly Economic […]

Economy continues to experience modest growth   NASSAU, BAHAMAS – Notwithstanding a continued rise in the cost of living as... read more »

March 6, 2019March 6, 2019 at 3:35 am | Royston Jones Jr.

BusinessMarch 1, 2019March 1, 2019 at 3:26 am Inderia Saunders

Business

Turnquest: $94.7 million in mortgage commitments

NASSAU, BAHAMAS – A surge in domestic construction to $86.7 million by Q3 2018 may not necessarily be duplicated this year as officials report a decline in construction commitments going forward. While many FDI ventures bolstered the construction sector for 2018, the completion of some of the bigger projects may mean a falloff in activity […]

NASSAU, BAHAMAS – A surge in domestic construction to $86.7 million by Q3 2018 may not necessarily be duplicated this... read more »

March 1, 2019March 1, 2019 at 3:26 am | Inderia Saunders

BusinessFebruary 28, 2019February 28, 2019 at 3:52 am Eyewitness News

Business

Govt.’s 2018/2019 budget guided by stringent fiscal requirements

NASSAU, BAHAMAS — Acting Prime Minister Peter Turnquest said the Government’s 2018/19 Budget was a watershed budget, as it was guided by the stringent fiscal requirements of the then-pending Fiscal Responsibility Act. The subsequent Fiscal Strategy Report of November then set the stage for the medium-term framework that will underpin the development of the 2019/20 […]

NASSAU, BAHAMAS — Acting Prime Minister Peter Turnquest said the Government’s 2018/19 Budget was a watershed budget, as it was... read more »

February 28, 2019February 28, 2019 at 3:52 am | Eyewitness News

BusinessFebruary 27, 2019February 27, 2019 at 3:30 am Ginelle Longley

Business

Turnquest: Focus on private sector rather than govt. jobs

NASSAU, BAHAMAS – Acting Prime Minister and Minister of Finance K. Peter Turnquest on Tuesday encouraged persons entering the workforce to focus more on private sector rather than government jobs. “The era of finishing school and looking for a good job with government is over,” Minister Turnquest said. The deputy prime minister’s comments came yesterday […]

NASSAU, BAHAMAS – Acting Prime Minister and Minister of Finance K. Peter Turnquest on Tuesday encouraged persons entering the workforce... read more »

February 27, 2019February 27, 2019 at 3:30 am | Ginelle Longley

BusinessFebruary 22, 2019February 22, 2019 at 4:05 am Theo Sealy

Business

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 […]

FREEPORT, GRAND BAHAMA – Dozens of Grand Bahamians had the chance to sign up for immediate employment opportunities on Thursday... read more »

February 22, 2019February 22, 2019 at 4:05 am | Theo Sealy

BusinessFebruary 22, 2019February 22, 2019 at 3:40 am Eyewitness News

Business

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. […]

NASSAU, BAHAMAS – Businesses that provide solar power equipment and related services are free to apply to the Ministry of... read more »

February 22, 2019February 22, 2019 at 3:40 am | Eyewitness News

BusinessFebruary 19, 2019February 19, 2019 at 4:30 am Tamara McKenzie

Business

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 […]

NASSAU, BAHAMAS – Another group of persons will join the unemployment line as Commonwealth Brewery Limited (CBL) announced on Monday... read more »

February 19, 2019February 19, 2019 at 4:30 am | Tamara McKenzie

BusinessFebruary 14, 2019February 14, 2019 at 3:25 am Eyewitness News

Business

McCartney: Bahamas ‘ought not to have been listed’ on EU’s AML/CFT list

NASSAU, BAHAMAS – The Financial Services sector and the government are on one accord in calling a move ‘not proportionate’ when the European Commission listed The Bahamas among jurisdictions considered deficient in Anti-Money Laundering and Countering Financing of Terror (AML/CFT). The Bahamas Financial Services Board (BFSB) CEO Tanya McCartney yesterday assured that the industry remained […]

NASSAU, BAHAMAS – The Financial Services sector and the government are on one accord in calling a move ‘not proportionate’... read more »

February 14, 2019February 14, 2019 at 3:25 am | Eyewitness News

BusinessFebruary 14, 2019February 14, 2019 at 3:20 am Inderia Saunders 1

Business

Yearly 25,000 Japanese car imports to drop as new car sales expected to hike

NASSAU, BAHAMAS – Auto industry insiders are eyeing a possible decline in nearly 25,000 used Japanese vehicles imported into the country each year as new car imports are tailored to fit the more affordable 25 per cent tax rate. Because of their more economical prices and engine size, anywhere from 15,000 to 25,000 used cars […]

NASSAU, BAHAMAS – Auto industry insiders are eyeing a possible decline in nearly 25,000 used Japanese vehicles imported into the... read more »

February 14, 2019February 14, 2019 at 3:20 am | Inderia Saunders | 1

BusinessFebruary 13, 2019February 13, 2019 at 4:25 am Eyewitness News

Business

10% spike in data breaches for banking customers

NASSAU, BAHAMAS – The Bahamas Data Protection Commissioner has recorded a 10 per cent hike in the number of data breach complaints by commercial bank account holders year-over-year, as efforts to increase public awareness on the issue continue. It is a global upsurge in breaches of personal data by hackers and online criminals that has […]

NASSAU, BAHAMAS – The Bahamas Data Protection Commissioner has recorded a 10 per cent hike in the number of data... read more »

February 13, 2019February 13, 2019 at 4:25 am | Eyewitness News

BusinessFebruary 8, 2019February 8, 2019 at 4:10 am Eyewitness News

Business

GB Business Outlook to highlight creative industries

NASSAU, BAHAMAS – With its innovative “Creative Conversations”, the Grand Bahama Business Outlook (GBBO) is putting the spotlight on the value of creative industries, with a focus on the arts.  Scheduled to be held at Freeport’s Grand Lucayan Resort on February 21, the forum is marking its 21st anniversary under the theme “Connecting Resources, Maximizing Opportunities, Transforming […]

NASSAU, BAHAMAS – With its innovative “Creative Conversations”, the Grand Bahama Business Outlook (GBBO) is putting the spotlight on the... read more »

February 8, 2019February 8, 2019 at 4:10 am | Eyewitness News

BusinessFebruary 8, 2019February 8, 2019 at 4:05 am Eyewitness News

Business

TIG zeroes in on recipients for second round of funding

NASSAU, BAHAMAS – It’s no easy feat to identify promising companies and entrepreneurs with the strongest potential to change the way we live and work, but The Investment Group (TIG) is on a mission to do just that as interviews are set to commence this week with shortlisted candidates vying for thousands of dollars in […]

NASSAU, BAHAMAS – It’s no easy feat to identify promising companies and entrepreneurs with the strongest potential to change the... read more »

February 8, 2019February 8, 2019 at 4:05 am | Eyewitness News

BusinessFebruary 1, 2019February 1, 2019 at 4:55 am Royston Jones Jr.

Business

BIA: revised timeline for NHI still “very difficult”

Association to complete substantive review of new NHI structure   NASSAU, BAHAMAS – While expressing support for the government’s efforts to develop a sustainable universal healthcare coverage platform, The Bahamas Insurance Association (BIA) contended yesterday that the timeline for the implementation of NHI is still “very difficult” to achieve. During a press conference at the […]

Association to complete substantive review of new NHI structure   NASSAU, BAHAMAS – While expressing support for the government’s efforts... read more »

February 1, 2019February 1, 2019 at 4:55 am | Royston Jones Jr.

BusinessFebruary 1, 2019February 1, 2019 at 4:50 am Royston Jones Jr.

Business

Stamp tax and VAT revenue up substantially

Deficit reduced by 31%, but three quarters used   Government revenue for the first six months of this fiscal year increased by nearly 15 per cent compared to the same period in 2017/2018, largely due to increased collection in value-added tax (VAT) and stamp tax, according to the government’s budgetary performance report. The report, a […]

Deficit reduced by 31%, but three quarters used   Government revenue for the first six months of this fiscal year... read more »

February 1, 2019February 1, 2019 at 4:50 am | Royston Jones Jr.

BusinessJanuary 31, 2019January 31, 2019 at 3:57 am Eyewitness News

Business

OWN Bahamas Foundation survey reveals startling stats on Bahamian entrepreneurs

NASSAU, BAHAMAS – As the OWN Bahamas Foundation ups the ante to support local entrepreneurs through a 2019 expansion, an online survey of OWN Talks participants reveals startling statistics about the state of entrepreneurship in The Bahamas. The survey was distributed to over 1,500 participants in the foundation’s popular motivational speakers’ event which draws crowds […]

NASSAU, BAHAMAS – As the OWN Bahamas Foundation ups the ante to support local entrepreneurs through a 2019 expansion, an... read more »

January 31, 2019January 31, 2019 at 3:57 am | Eyewitness News

BusinessJanuary 23, 2019January 23, 2019 at 4:20 am Theo Sealy

Business

Major: Most gamers are responsible, savvy and can afford to game

NASSAU, BAHAMAS – Despite widespread criticism which has suggested that the local gaming industry promotes irresponsible spending habits among gaming patrons, the head of The Bahamas Gaming Operators Association (BGOA) asserted on Tuesday that studies have proven that gaming patrons in The Bahamas are “responsible, savvy and can afford to game.” Gershon Major, President of […]

NASSAU, BAHAMAS – Despite widespread criticism which has suggested that the local gaming industry promotes irresponsible spending habits among gaming... read more »

January 23, 2019January 23, 2019 at 4:20 am | Theo Sealy

BusinessJanuary 23, 2019January 23, 2019 at 3:50 am Royston Jones Jr.

Business

Quarterly unemployment surveys to come

Statisticians say new design will be launched after population census   NASSAU, BAHAMAS – The Department of Statistics intends to change the design of its Labour Force Survey to provide quarterly reports on the level of joblessness in the country as opposed to twice annually, according to Senior Statistician Cypreanna Winters. The change in framework […]

Statisticians say new design will be launched after population census   NASSAU, BAHAMAS – The Department of Statistics intends to... read more »

January 23, 2019January 23, 2019 at 3:50 am | Royston Jones Jr.