Business – Eye Witness News

BusinessJune 11, 2021 at 3:58 am Natario McKenzie

Business

Former Finance Minister slams housing plan as “inherently discriminatory”

NASSAU, BAHAMAS — A former Cabinet minister yesterday described the Access to Affordable Homes (Amendment) Bill, 2021 as “inherently discriminatory,” arguing that it goes against the principle of fairness and equal treatment under the law. “I get the laudable intent but in my mind, this Bill goes against the principle of fairness and equal treatment […]

NASSAU, BAHAMAS — A former Cabinet minister yesterday described the Access to Affordable Homes (Amendment) Bill, 2021 as “inherently discriminatory,”... read more »

June 11, 2021 at 3:58 am | Natario McKenzie

BusinessJune 11, 2021 at 3:51 am Natario McKenzie

Business

No reason to be alarmed over G7 tax deal, says former finance minister

NASSAU, BAHAMAS — Former Finance Minister K Peter Turnquest said yesterday that there is no reason for this nation to be alarmed over the G7’s landmark deal to battle tax avoidance, noting that this nation must adapt and develop strategies to get ahead of these developments. G7 finance ministers last weekend agreed to a landmark deal […]

NASSAU, BAHAMAS — Former Finance Minister K Peter Turnquest said yesterday that there is no reason for this nation to... read more »

June 11, 2021 at 3:51 am | Natario McKenzie

BusinessJune 11, 2021 at 3:36 am Natario McKenzie

Business

IDB highlights international good practices and lessons in post disaster reconstruction in The Bahamas

NASSAU, Bahamas — The Inter-American Development Bank has highlighted global experiences following natural disasters in a publication on best practices in post-disaster reconstruction in The Bahamas. Presented in a virtual event for the government, organized by the IDB’s country office in The Bahamas, a summary document entitled ‘International Good Practices and Lessons in Post Disaster […]

NASSAU, Bahamas — The Inter-American Development Bank has highlighted global experiences following natural disasters in a publication on best practices... read more »

June 11, 2021 at 3:36 am | Natario McKenzie

BusinessJune 11, 2021 at 3:34 am Natario McKenzie

Business

Dairy Queen returns to The Pointe

NASSAU, BAHAMAS — After being closed for just over a year, the Dairy Queen franchisees are reopening its The Pointe location this weekend. Crystal Campbell DQ operations manager said: “The location was closed since the first Emergency Powers Order in March of last year, so it’s been a little over a year now. That location […]

NASSAU, BAHAMAS — After being closed for just over a year, the Dairy Queen franchisees are reopening its The Pointe... read more »

June 11, 2021 at 3:34 am | Natario McKenzie

BusinessJune 10, 2021 at 3:46 am Natario McKenzie

Business

GBPA REEF Committee unveils “Action Plan’ for Freeport socio-economic growth

NASSAU, BAHAMAS — Upgrading and enhancing Freeport’s infrastructure to support a modern cosmopolitan city will require considerably more investment than current revenue streams, according to Grand Bahama Port Authority’s (GBPA) Revitalization and Economic Expansion of Freeport (REEF) Committee. The committee has unveiled its five point ‘Action Plan’ to restore socio-economic growth to Freeport. “Since 1955, […]

NASSAU, BAHAMAS — Upgrading and enhancing Freeport’s infrastructure to support a modern cosmopolitan city will require considerably more investment than... read more »

June 10, 2021 at 3:46 am | Natario McKenzie

BusinessJune 10, 2021 at 3:41 am Natario McKenzie

Business

IDB: Government halted research permits as it moved to plug loophole

NASSAU, BAHAMAS — The Bahamas issued no research permits in 2019 and 2020 as the government moved to plug a loophole that has enabled foreign exploitation of this nation’s biological and genetic resources without compensation, the Inter-American Development Bank (IDB) has noted. The Inter-American Development Bank (IDB), in a paper accompanying its latest $140m loan […]

NASSAU, BAHAMAS — The Bahamas issued no research permits in 2019 and 2020 as the government moved to plug a... read more »

June 10, 2021 at 3:41 am | Natario McKenzie

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BusinessJune 10, 2021 at 3:32 am Natario McKenzie

Business

Kanoo expands offering to include social assistance payments

NASSAU, BAHAMAS — Digital payments solutions provider Kanoo has included social assistance payments into its offering, with over 3,000 beneficiaries currently receiving assistance via its platform. Kimani Braithwaite, chief operating officer of Kanoo noted that individuals receiving social assistance payments can no do so more discreetly and efficiently. “The benefits are multi-fold. You don’t have […]

NASSAU, BAHAMAS — Digital payments solutions provider Kanoo has included social assistance payments into its offering, with over 3,000 beneficiaries... read more »

June 10, 2021 at 3:32 am | Natario McKenzie

BusinessJune 9, 2021 at 3:57 am Natario McKenzie 4

Business

Spanish Wells cruise plans scrapped amid fierce opposition

NASSAU, BAHAMAS — As Crystal Cruises gets set to launch its Bahamas cruises next month, the cruise line has scrapped plans to make Spanish Wells a port-of-call after fierce push back from residents. Tourism Minister Dionisio D’Aguilar confirmed yesterday that the cruise line will no longer have Spanish Wells on its itinerary. It is not […]

NASSAU, BAHAMAS — As Crystal Cruises gets set to launch its Bahamas cruises next month, the cruise line has scrapped... read more »

June 9, 2021 at 3:57 am | Natario McKenzie | 4

BusinessJune 9, 2021 at 3:52 am Natario McKenzie

Business

AML Foods completes acquisition of Exuma Markets for $1.75 million

NASSAU, BAHAMAS — AML Foods Limited yesterday announced that it has completed the acquisition of Exuma Markets Limited in Georgetown, Exuma for $1.75 million. AML Foods Limited noted in a statement yesterday that the transaction closed on May 31, with the company set to invest an additional $300,000 to remodel the store. The store will follow […]

NASSAU, BAHAMAS — AML Foods Limited yesterday announced that it has completed the acquisition of Exuma Markets Limited in Georgetown, Exuma... read more »

June 9, 2021 at 3:52 am | Natario McKenzie

BusinessJune 9, 2021 at 3:44 am Natario McKenzie 1

Business

Housing: 100 lots to be available in Carmichael Village Phase I

NASSAU, BAHAMAS — Environment and Housing Minister Romauld Ferreira said yesterday the installation of infrastructure in phase I of the Carmichael Village Subdivision is nearly complete. Ferreira touted government’s housing development efforts as the “most innovative and groundbreaking government housing system ever devised in this country” during his contribution yesterday to the 2021/2022 budget. He […]

NASSAU, BAHAMAS — Environment and Housing Minister Romauld Ferreira said yesterday the installation of infrastructure in phase I of the... read more »

June 9, 2021 at 3:44 am | Natario McKenzie | 1

BusinessJune 8, 2021 at 3:54 am Natario McKenzie

Business

MAKE IT MAKE SENSE: Businesses blast lack of uniformity over COVID orders exemptions

NASSAU, BAHAMAS — The rationale behind which businesses are afforded ‘special permission’ by the Competent Authority to remain open under the COVID Emergency Orders is being called into question, with some business owners crying discrimination over the lack of response to their requests to conduct business. Several business owners voiced concern that the government’s approach lacks […]

NASSAU, BAHAMAS — The rationale behind which businesses are afforded ‘special permission’ by the Competent Authority to remain open under... read more »

June 8, 2021 at 3:54 am | Natario McKenzie

BusinessJune 8, 2021 at 3:53 am Natario McKenzie

Business

Chipman slams government borrowing as he warns of “debt crisis”.

NASSAU, BAHAMAS — Centerville MP Reece Chipman yesterday slammed the Minnis administration for its borrowing, stating during his 2021/2022 budget communication that the country is in a “debt crisis”. “This is an election year budget,” Chipman said. “Many promises of concessions and no mention of our natural resources our your commitment to accountability and good […]

NASSAU, BAHAMAS — Centerville MP Reece Chipman yesterday slammed the Minnis administration for its borrowing, stating during his 2021/2022 budget... read more »

June 8, 2021 at 3:53 am | Natario McKenzie

BusinessJune 8, 2021 at 3:39 am Natario McKenzie

Business

Tax structure decision a matter of survival not sovereignty, says top banker

NASSAU, BAHAMAS — A top banker yesterday contended the determination on the best tax structure for this nation is not simply a matter of sovereignty but survival in the global geopolitical arena. G7 finance ministers this past weekend agreed to a landmark deal to battle tax avoidance having agreed in principle that multinational companies pay […]

NASSAU, BAHAMAS — A top banker yesterday contended the determination on the best tax structure for this nation is not... read more »

June 8, 2021 at 3:39 am | Natario McKenzie

BusinessJune 7, 2021 at 3:59 am Natario McKenzie

Business

SOVEREIGN RIGHT: Govt to assess impact as landmark G7 deal pushes for global corporate tax

NASSAU, BAHAMAS — The government yesterday reasserted that it is this nation’s ‘sovereign right’ to determine the tax structure best suited for the ongoing development of the country. This as G7 finance ministers over the weekend agreed to a landmark deal to battle tax avoidance by making big companies pay more tax in the countries […]

NASSAU, BAHAMAS — The government yesterday reasserted that it is this nation’s ‘sovereign right’ to determine the tax structure best... read more »

June 7, 2021 at 3:59 am | Natario McKenzie

BusinessJune 5, 2021 at 3:50 am Eyewitness News 2

Business

BSGC celebrates 11 years with giveback to thousands

NASSAU, BAHAMAS — In celebration of its 11th anniversary and to commemorate the 50th birthday of its co-founder, Dominic Sturrup, Bahamas Striping Group of Companies (BSGC) has launched a campaign to give away thousands of dollars in food parcels and grocery story vouchers valued at $25 each. “The goal is to uplift others and help […]

NASSAU, BAHAMAS — In celebration of its 11th anniversary and to commemorate the 50th birthday of its co-founder, Dominic Sturrup,... read more »

June 5, 2021 at 3:50 am | Eyewitness News | 2

BusinessJune 4, 2021 at 3:53 am Eyewitness News

Business

Bahamas Paradise Cruise Line welcomes Grand Classica back into Port of Palm Beach in anticipation of July resumption of cruising

Cruise line CEO: We have missed Grand Bahama, our home away from home “It’s time to get crew members, cruise line support staff and parking attendants back to work” FLORIDA, USA — Bahamas Paradise Cruise Line yesterday marked the long-awaited return of Grand Classica to its homeport, the Port of Palm Beach. The ship has […]

Cruise line CEO: We have missed Grand Bahama, our home away from home “It’s time to get crew members, cruise... read more »

June 4, 2021 at 3:53 am | Eyewitness News

BusinessJune 3, 2021 at 3:53 am Natario McKenzie

Business

“SHEER FANTASY”: Cooper slams 2021/2022 budget while promoting PLP economic plan

“We have a debt crisis approaching and this administration appears to be ignoring it altogether; ostrich economics will not help” NASSAU, BAHAMAS — Opposition Shadow Finance Minister and Progressive Liberal Party (PLP) Deputy Leader Chester Cooper yesterday slammed the 2021/2022 budget as “sheer fantasy”, as he blasted the government’s expenditure plans as “shameless and dangerous […]

“We have a debt crisis approaching and this administration appears to be ignoring it altogether; ostrich economics will not help”... read more »

June 3, 2021 at 3:53 am | Natario McKenzie

BusinessJune 3, 2021 at 3:50 am Natario McKenzie

Business

ALL ABOARD: Royal Caribbean’s Bahamas cruise seeing “very strong bookings”

Adventure of the Seas to set sail next week, homeporting in The Bahamas and running through August NASSAU, BAHAMAS — Royal Caribbean is seeing very strong bookings on its Bahamas cruise offering, which is set to begin in just over a week, according to a senior official with the cruise line, who noted that customer […]

Adventure of the Seas to set sail next week, homeporting in The Bahamas and running through August NASSAU, BAHAMAS —... read more »

June 3, 2021 at 3:50 am | Natario McKenzie

BusinessJune 3, 2021 at 3:47 am Eyewitness News

Business

Bahamas Paradise Cruise Line receives green light from CDC to conduct simulated sailing, testing COVID-19 protocols

Test cruise to take place June 25-27 onboard Grand Classica Closed group to sail round-trip from Port of Palm Beach to Grand Bahama NASSAU, BAHAMAS — Bahamas Paradise Cruise Line announced yesterday it has received a green light from the US Centers for Disease Control and Prevention (CDC) to conduct a simulated sailing. Following all […]

Test cruise to take place June 25-27 onboard Grand Classica Closed group to sail round-trip from Port of Palm Beach... read more »

June 3, 2021 at 3:47 am | Eyewitness News

BusinessJune 3, 2021 at 3:41 am Natario McKenzie

Business

GO BIG: Local dessert brand sets sights on taking Bahamian treats to global market

The New Duff owner aims for unique duff treats to compete with intl franchises “We believe that the product can go global; we just need the right partner working along with us” NASSAU, BAHAMAS — Owner of The New Duff Kendrick Delaney said that having grown from a bicycle cart to a food trailer and […]

The New Duff owner aims for unique duff treats to compete with intl franchises “We believe that the product can... read more »

June 3, 2021 at 3:41 am | Natario McKenzie