NASSAU, BAHAMAS — Atlantis Paradise Island has announced today the Cove will reopen to guests on July 14 as part of a phased reopening. The property will welcome guests to the Royal and Harborside resorts on July 7. Atlantis has partnered with the world-renowned Cleveland Clinic and launched the Atlantis Clean & Safe Promise to […]
Tag: business
Straw Market Authority rental income losses up to $165k, vendors may not pay until 2021
NASSAU, BAHAMAS — The Straw Market Authority has seen $165,000 in lost rental income due to the COVID-19 pandemic, according to Works Minister Desmond Bannister. Bannister said the sum represented losses up to May 31, and reflected a 71.4 percent decrease. “As a result of the Covid-19 global pandemic, the SMA has revised and updated its 2020 Budget,” he said. “The updated budget is primarily […]
Accessibility focus for out island tourism needed
NASSAU, BAHAMAS – This nation needs to focus on ‘accessibility’ and make it easier for tourists to visit the out islands, a top tourism executive said yesterday. Bahamas Hotel & Tourism Association (BHTA) president Carlton Russell explained the cost of airfare to the family islands is an impediment to out island access. He spoke as […]
Cable Bahamas Group reports strong performance in consecutive quarters
NASSAU, BAHAMAS – Cable Bahamas Group said yesterday it has seen a strong performance in consecutive quarters, with its top executive noting the company has been ‘laser focused’ on reducing cost and driving revenue growth. The Cable Bahamas Group consists of REV, Summit Broadband and mobile provider Aliv in which it has a controlling interest. […]
Central Bank: Bahamas economy sustained “upward trajectory”
NASSAU, BAHAMAS – The Bahamas’ economy continued to experience “upward trajectory” in February as an increase in long-stay visitors underpinned by improvements in the tourism sector, and foreign-led investments projects shored up activity in construction, according to data from The Central Bank of The Bahamas. The latest Central Bank Monthly Economic and Financial Developments (MEFD) […]
D’Aguilar details process to create new airport at Long Island town meeting
LONG ISLAND, BAHAMAS — At a Town Meeting on Thursday, March 28, at the North Long Island High School in Simms, Minister of Tourism and Aviation (MOTA) Dionisio D’Aguilar addressed the Long Island community on plans for a new airport, giving a status report on progress towards this goal. Long Island residents also heard from […]
Blue Lagoon Island receives Travelife Partner Award
Amsterdam, The Netherlands – Blue Lagoon Island, Bahamas, home of Dolphin Encounters, has obtained the Travelife Partner award. The award is a recognition for the long-term efforts and frontrunner position of Blue Lagoon Island regarding sustainability and Corporate Social Responsibility. Blue Lagoon Islandcomplies with more than 100 criteria, related to an operators’ office management, product […]
Cost of credit/debit transactions deterrent to some merchants
A local businessman has opted to no longer facilitate debit/credit card transactions in his business for cost reasons. Jay Koment, the owner of New Providence Art and Antiques, says for 12 years he felt it was a service he had to offer to better serve his customers, but after a while, it became too much to […]
Chamber appoints new board members
The Bahamas Chamber of Commerce and Employers’ Confederation (BCCEC) appointed new board members recently. See full statement from the chamber below: The Bahamas Chamber of Commerce and Employers’ Confederation (BCCEC) welcomed to its Board of Directors the following member professionals, whose appointments were effective as of […]
Tech stocks pull market sharply lower, erasing early gains
A steep, late-afternoon sell-off in technology companies pulled U.S. stocks sharply lower Tuesday, knocking 344 points off the Dow Jones industrial average. The market slide erased modest gains from earlier in the day and much of a powerful rally from the day before. Banks also weighed on the market as bond yields declined. Investors bid […]
Symonette reveals new ease of business initiatives
A price hike is pending for foreigners wanting to apply for permanent residency. Minister of Financial Services, Trade & Industry and Immigration, the Hon Brent Symonette, announced at the 15th Annual International Business and Finance Summit yesterday, that foreigners will now have to pay an additional $250,000 to The Bahamas government for homes, which takes […]
Turnquest encourages better ease of business practices
Deputy Prime Minister and Minister of Finance, Peter Turnquest said that while The Bahamas ranks high as a well-regulated jurisdiction, it has to improve the ease of doing business in the country for both domestic and international entities if it wants to remain competitive. His comments were made at the International Business Finance Summit presented […]
Government’s “e-tendering” programme for govt. contracts and services
During his keynote address at the Grand Bahama 20th Annual Business Outlook at Grand Lucayan resort on Thursday, Deputy Prime Minister and Minister of Finance, the Hon. Peter Turnquest outlined some of the programs and initiatives the government is taking in order to remain transparent in its fiscal policies. One of those initiatives is one […]
Public Finances are in a better place than mid-point of the last financial year
The Deputy Prime Minister and Minister of Finance the Hon. Peter Turnquest said the public finances of The Bahamas are in a better place than they were at the mid-point of the last financial year. “The aggregate GFS Deficit for the first six months of the current fiscal year totalled some $198.0 million, down sharply […]
$4 billion Heads of Agreement to be signed today
Grand Bahama is one step closer to a $4 billion injection into it’s economy as the Heads of Agreement for Oban Energies Management’s oil refinery is set to be signed today at noon at the Office of the Prime Minister. Estimated to produce 50,000 barrels daily, the oil refinery will be located on the eastern […]
Island Luck continues crackdown on inter-island money transfers
Island Luck gaming company witnessed a 90 percent decline in client withdrawals and deposits since last November when the company took an aggressive approach to crack down on inter- island money transfers. The news comes from the company’s Chief Compliance Officer, Neil Major, who told Eyewitness News yesterday that the majority of the company’s 80,000 […]
ICAC Conference To Bring Hundreds To The Islands of The Bahamas
Over 400 accountants from the United States, the United Kingdom, Canada and the Caribbean are expected to arrive in Nassau come June for the 36th Institute of Chartered Accountants Caribbean’s (ICAC) Conference of Accountants. The much-anticipated conclave, which is expected to stimulate the Meetings Incentives, Conferences and Events (MICE) aspect of tourism, will be held […]
Trump’s $4 trillion budget helps move deficit sharply higher
WASHINGTON (AP) — President Donald Trump is proposing a $4 trillion-plus budget for next year that projects a $1 trillion or so federal deficit and — unlike the plan he released last year — never comes close to promising a balanced federal ledger even after 10 years. And that’s before last week’s $300 billion budget […]