Unions ready to secure redundancy payments for Meliá employees

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 […]

Exuma Chamber of Commerce fears Scotia’s exit will impact half the banking population

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 […]

Private-sector foreign currency inflows fell over 30 percent in 2020, says CBOB governor

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 […]

Sands: Construction industry remains strong, steady rebound expected

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 […]

Roberts: “I really hope the worst is over”

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 […]

Briland developer slams opponents over “misinformation”

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 […]

Simplified Lending, MobileAssist join forces for innovative program

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 […]

Demolition works at old post office and Victoria Gardens to be completed by March 2021

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 […]

$19 million “showstopper” airport to be catalyst for Long Island’s growth

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 […]