The Big Story

NASSAU, BAHAMAS — Researchers are reporting that the dreaded Stony Coral Tissue Loss Disease (SCTLD) has reached one of the country’s most treasured and vibrant dive sites, leaving environmentalists scrambling to save it. Sandy Cay Reef, a renowned scuba spot within the Pelican Cays Land and Sea Park in Abaco, is the latest victim of the coral pandemic. In March, marine scientists...

NASSAU, BAHAMAS — Mobile Garage Fleet Solutions (MGFS), a Bahamian tech start-up is set on disrupting the way businesses manage their fleet of vehicles with the use of two emerging technologies: Telematics and Artificial Intelligence (A.I.) Dashcam. The company claims that both technologies—which are channeled through its cloud-based platform—can provide companies with key data that can be used to improve...

NASSAU, BAHAMAS — The Bahamas recorded one million visitor arrivals in March, according to data released by the Central Bank yesterday. The regulator in its Monthly Economic and Financial Development Report for the month of March noted that preliminary data showed the tourism sector at a robust pace in March, reflective of the relaxed COVID-19 conditions and persistent pent-up demand...

NASSAU, BAHAMAS — Colina Financial Advisors Ltd (CFAL) has announced that it successfully refinanced the $134.4 million Nassau Cruise Port Ltd (NCP) bond this past Friday. CFAL raised $145 million on behalf of the cruise port operator by refinancing its eight percent unsecured bond and issuing a six percent unsecured bond. The team accepted applications for the offering between April...

NASSAU, BAHAMAS — Nassau Airport Development Company (NAD) officials said yesterday that a failure in a fire suppression line led to flooding in the arrivals corridor near Bahamas Immigration. According to a statement from the Lynden Pinlding International Airport (LPIA) operator, at 10:20 am Sunday there was a failure in a fire suppression line which led to flooding in the...

NASSAU, BAHAMAS — The Central Bank is still actively seeing to improve what still remains a “less than satisfactory” experience in opening accounts at domestic banks according to Governor John Rolle, noting that the target is to reduce the average time it takes to open a business account to less than two weeks. “The Central Bank is actively pushing to...

NASSAU, BAHAMAS — Solomon’s is inviting customers to celebrate with them throughout the month of May as they mark the one-year anniversary of MySolomon’s Smart Rewards. The grocery loyalty program, which the company says has been popular since it was launched on May 26, 2022, has over 53,000 active members who save and earn rewards on their grocery bills every...

NASSAU, BAHAMAS — Sand Dollars in circulation are currently valued at just over $1 million according to Central Bank Governor John Rolle, who noted that within the mobile wallet space, the spend is roughly $4 million per month. “The financial institutions are predominately concluding those transactions in Sand Dollar; more than 80 percent of those. We expect that eventually all...

NASSAU, BAHAMAS — On Thursday, April 27, the British High Commissioner hosted Bahamian industry leaders from the wine and spirits industry. Mixologists from Nassau’s best bars; managers from Ocean Club, Albany, Dilly Club, and the Art District Lounge; Bahamian rum producers John Watlings; officials from the Trade Commission; hospitality lecturers from the University of The Bahamas; and importers such as...

NASSAU, BAHAMAS — The Bahamas must seek to diversify its tourism product according to a leading financial services executive, suggesting that this nation had missed out on a major opportunity to expand into medical tourism. David Slatter, Assistant Vice-President of Investment Management Services and Royal Fidelity Bank & Trust while addressing a Bahamas Chamber of Commerce and Employer’s Confederation (BCCEC)...

NASSAU, BAHAMAS — CIBC First Caribbean International Bank (FCIB) said yesterday that it is working to address ‘intermittent’ issues across its online banking platform, mobile app and corporate online services, with businesses branding the disruption as a “serious issue” which is “hurting commerce.” Several local businesses told Eyewitness News that the issue had left them unable to complete transactions with...

NASSAU, BAHAMAS — Despite its association with the deadliest natural disaster in Bahamian history, Abaco was recently recognized at the 15th Caribbean Renewable Energy Forum (CREF) for its resiliency through its recent solar and storage projects.  With 185 mph maximum sustained winds, 2019's Hurricane Dorian left 2,500 people missing & thousands more displaced. “Rebuild stronger and better” was the motto...

NASSAU, BAHAMAS — The Bahamian Contractors Association President said yesterday that younger Bahamians in the construction industry need to demonstrate greater consistency and commitment to their craft, citing this as one of the primary reasons foreign laborers have infiltrated the sector. “We are having a hard time finding consistent Bahamian skilled labor," said Leonard Sands, speaking on the sidelines of a...

NASSAU, BAHAMAS — Labour and Immigration Minister Keith Bell that officials are looking into a few instances where Bahamian companies are suspected to have been ‘fronting’ for foreign entities, with the Bahamian Contractors Association president indicating that the issue is a serious concern for the construction industry.  Leonard Sands, the Bahamian Contractors Association president noted yesterday that while there is...

Hayward family foundation partners with eminent scholarship to fund postgraduate study in the UK to Bahamian students NASSAU, BAHAMAS — The Charles Hayward Foundation has agreed to provide funding for the first-ever Bahamian partnership with the prestigious Chevening Scholarship programme, allowing outstanding Bahamian students to pursue fully-funded master’s degree studies at accredited universities in the UK, in fields related to...

NASSAU, BAHAMAS — A top Royal Caribbean International (RCI) executive said yesterday that he was hopeful that local entrepreneur Toby Smith’s plan to restore Paradise Island’s lighthouse comes to fruition, suggesting that his project and the company’s $100 beach club development could successfully coexist. Jay Schneider, RCI’s Chief Product Innovation Officer told Eyewitness News firmly that they have "no overlap"...

NASSAU, BAHAMAS- The Securities Commission of The Bahamas  has published its revised Digital Assets and Registered Exchanges (DARE) Bill 2023 for consultation, expanding the definition and list of digital asset business activities. The revised legislation includes robust consumer and investor protection, risk management, and market innovation and development provisions. The Bill  also strengthens financial and reporting requirements for digital asset...

NASSAU, BAHAMAS — Fifty-one Micro, Small and Medium-Sized Businesses (MSME’s) have been approved for a Creative Entrepreneurs Standalone Grant for up to $5,000. According to Phyllice Bethel, Interim Deputy Director, of Small Business Development Centre (SBDC) the Creative Entrepreneurs initiative is a collaboration between the SBDC, the Bahamas Trade Commission, the Bahamas Chamber of Commerce and Royal Caribbean Cruise Line....