Local Business


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Lucayan payouts: ‘Take it or leave it’

The Grand Lucayan’s Board plans to begin voluntary staff separation payouts without an agreement with the workforce’s trade unions on their value and terms, its chairman said yesterday.

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‘High expectations’ NAD’s $75m offer is oversubscribed

The Nassau airport operator’s advisers last night said they had “high expectations” its refinancing will be fully or oversubscribed after raising 90 percent of their target within the first two days.

‘Trustworthy’ hotel operator sought to preserve 100 jobs

Old Bahama Bay’s owner was yesterday seeking a “trustworthy” new operator after repossessing the resort to facilitate its sale for the former Ginn project’s $2.8bn redevelopment.

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Three cruise port bids: Spend from $130m to $250m

The Government has received three bids, ranging in investment value from $130m to $250m, for the contract to manage and operate Nassau’s cruise port.

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BTC pays for Black Friday meltdown

Regulators have ordered the Bahamas Telecommunications Company (BTC) to pay 50 percent of its fine for last year’s Black Friday mobile number portability meltdown to affected consumers.

Minister uncertain on hotel union strike vote

The Minister of Labour yesterday said he was uncertain whether the hotel union will continue with its strike vote given assertions that its concerns have been addressed.

DPM: ‘There’s still much work to do’

THE DEPUTY Prime Minister yesterday stressed that the Government must continue with its economic growth and fiscal initiatives, conceding: “There is still a lot of work to be done.”

Davis: IMF ignores nation’s ‘social pain’

THE Opposition’s leader yesterday argued that the latest International Monetary Fund’s (IMF) report fails to capture “the social pain being inflicted” by the Government’s austerity measures.

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IMF gives govt vital ‘boost of confidence’

The IMF yesterday gave the Government a much-needed “boost of confidence” with an upbeat assessment of its economic and fiscal reform progress despite the “many challenges ahead”.

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Union rejects Atlantis’ ‘no strike vote basis’ assertion

ATLANTIS’ assertion that there is “no basis for a strike vote” was yesterday vehemently rejected by the hotel union, which said it still plans to proceed with its December 18 poll.

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Credit Bureau operator set for January selection

The Central Bank’s governor yesterday confirmed that the preferred operator for The Bahamas’ first-ever Credit Bureau will be unveiled in January amid IMF calls for its “speedy” creation.

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Bahamas ‘25% of way there’ on reform progress

The Bahamas is “maybe 25 percent of the way there” on economic and fiscal reforms, a governance campaigner said yesterday, with too few Bahamians feeling the benefits of this progress.

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Non-Profit Bill too one-sided

The Government’s Non-Profit Organisations Bill is too one-sided because it neglects the positive effects of the sector’s growth for Bahamian society, a governance reformer argued yesterday.

Non-profit groups set for ‘mapping and valuation’

Civil Society Bahamas yesterday pledged to identify all the country’s non-profit groups and produce a valuation of their worth, as the Government delayed moving forward with controversial legislation to regulate the sector.

Bank heads sessions at infrastructure forum

CIBC FirstCaribbean headed two sessions at this year’s Caribbean Infrastructure Forum (CARIF 2018), focusing on financing trends and climate resilient water supplies.