NASSAU, BAHAMAS — Union representatives said yesterday they are prepared to ensure Meliá workers receive severance pay after the resort announced a two-year closure, during which time it will undertake $100 million in renovations. Obie Ferguson, Trade Union Congress (TUC) president, told Eyewitness News: “I received a letter today from the general manager for Meliá indicating […]
NASSAU, BAHAMAS — The Exuma Chamber of Commerce president said yesterday that half of the island’s banking population will be impacted by Scotia Bank’s exit, with no other institution having stepped up to this point to fill the gap. Pedro Rolle told Eyewitness News that while the reopening of Sandals Emerald Bay scheduled for February […]
NASSAU, BAHAMAS — Total foreign currency inflows through the private sector in 2020 fell by almost 33 percent, according to Central Bank Governor John Rolle, who noted that a further drawdown on the country’s foreign reserves is expected over the first half of this year. Rolle, who addressed the Bahamas Business Outlook yesterday, noted that […]
NASSAU, BAHAMAS — Despite the challenges brought on by the COVID-19 pandemic, the Bahamian construction industry remains strong, according to former contractor’s association president. Leonard Sands, former Bahamian Contractors Association (BCA) president, said the industry will witness a steady rebound to pre-COVID business levels. “The industry is doing fairly well. There is obviously a lot […]
NASSAU, BAHAMAS — Super Value Owner Rupert Roberts expressed hope that “the worst is over”, with his food store chain reporting a solid Christmas holiday shopping period and sales driven by a significant increase in grocery voucher purchases. Roberts told Eyewitness News: “I would say we had a good Christmas, all things considered. We were […]
NASSAU, BAHAMAS — The Briland Club Residences and Marina developer yesterday refuted what it described as “misinformation” being spread by opponents regarding its intentions for the development. 4M Harbour Island Ltd said yesterday the latest round of misinformation to hit the rumor mill is that Briland Club intends to bring cruise ships to Harbour Island […]
NASSAU, BAHAMAS — The Bahamas National Trust (BNT) yesterday voiced its opposition to the proposed $580 million South Abaco Resort & Marina project, noting that the donation of land and funds to the organization to support conservation activities would not influence its view of the project. “The Bahamas National Trust is in direct opposition to […]
NASSAU, BAHAMAS — Simplified Lending and Mobile Assist have partnered to provide marketing packages for small and medium-sized businesses. The concept of providing free access to marketing benefits is the brainchild of veteran banker-turned-entrepreneur Robert Pantry. The founder and CEO of Simplified Lending said he conceived of the idea as he listened to the struggles […]
NASSAU, BAHAMAS — Demolition works at the old post office site and Royal Victoria Gardens are expected to be completed by March of 2021, it was revealed yesterday. Woslee Construction has been contracted to carry out the demolition works. Ian Fernander, capital development manager for the Central Bank, noted during a press conference yesterday that […]
NASSAU, BAHAMAS — A senior aviation official said yesterday that nearly $19 million will be invested into Long Island International Airport. The project is set to be completed in March 2022, according to Aviation Director Algernon Cargill, who addressed the Long Island Business Outlook yesterday. Cargill said the airport will be a “showstopper” and allow […]
NASSAU, BAHAMAS — Deputy Prime Minister and Minister of Finance K Peter Turnquest said yesterday it is unlikely that Bank of The Bahamas (BOB) will be a ‘viable’ commercial banking option for the Family Islands. Turnquest told Parliament the government is disappointed over Scotiabank’s decision to close its branches in Abaco, Andros, Long Island, and […]
