Local Business


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Hotels: ‘We’ve never seen this in ten years’

The Nassau/Paradise Island hotel industry has “rebounded with gains not seen for ten years”, it was revealed yesterday, as room revenues closed 2018 up 34 percent year-over-year.

Tax uncertainty threat ‘to kill solar industry’

Solar energy providers yesterday urged the government to clarify “random and inconsistent” tax policies that are threatening “to kill an infant industry before it gets a foothold”.

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B$ ‘co-operative’ can solve web shop woe

The Clearing Banks Association’s (CBA) chairman yesterday said the sector would have “no objection” to web shops setting up a Bahamian dollar “co-operative” to resolve their banking woes.

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Nassau ‘first callers’ drop 40k in 2018

Cruise passenger arrivals to Nassau as a “first port of entry” fell by more than 40,000 persons in 2018, it was revealed yesterday, just as Cabinet was debating who should get the port deal.

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Tech firm denies one-shot lay-offs

The company that gave life to the government’s Grand Bahama “technology hub” ambitions yesterday denied making any one-shot lay-offs while admitting business was “slower than expected”.

New Brewery posts to ‘hold job lossed at 43’

A CABINET minister yesterday voiced optimism that Commonwealth Brewery’s creation of 30 new posts would minimise recently-unveiled job losses to a “net” 43.

PLP’s ‘utter neglect’ caused EU’s listing

THE ATTORNEY general yesterday blamed the former Christie administration’s inaction for The Bahamas’ being branded a “high risk” financial crime jurisdiction by the European Union (EU).

Minister urges end to Morton tensions

A Cabinet minister yesterday said the government was “very concerned” that Morton Salt and its line staff union swiftly “reach a settlement” to end ongoing industrial tension in Inagua.

Ex-Bar chief calls for privy council switch

A former Bahamas Bar Association president has urged this nation to switch to the Caribbean Court of Justice (CCJ) as this nation’s final judicial forum of appeal.

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‘Nipped in the Bud’: Brewery lays off 73

COMMONWEALTH Brewery yesterday said a tough economy and competitive pressures from cheaper rival beers had forced it to terminate 73 staff within its 700 Wines & Spirits retail unit.

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Customs moves on registration concern

Customs is moving to ensure the one-time registration for its new automated system is as “efficient and seamless” as possible following multiple complaints of delayed import clearances.

Web shops hit banks’ ‘dangerous’ rejection

Web shops yesterday argued it was “dangerous and counterproductive” for the majority of Bahamian banks to reject research showing the sector is “clean” with the country under attack.

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No ‘material’ impact in late EU tax changes

The deputy prime minister has voiced confidence that the Bahamian financial services industry will not be “materially affected” by the last-minute reforms to escape Europe’s “blacklist”.

Bahamas must benefit in WTO sector openings

The Bahamas will only open up industries to foreign competitors under the WTO if doing so generates “real economic opportunities” for this nation, its chief negotiator asserted yesterday.

Renewable providers call for energy trading

A newly-formed renewable energy association of yesterday branded The Bahamas’ energy sector model as “outdated” and called for far-reaching structural reform.