Local Business


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Grand Lucayan deal woe as February reopen eyed

The Grand Lucayan’s Board is mulling a February 2021 re-opening in a bid to prevent the resort from becoming a “wasting asset” amid the growing uncertainty surrounding its potential sale.

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Activists: Study exposes oil’s ‘roll of the dice’

OIL exploration opponents yesterday said their demands for a drilling halt are justified by a study showing The Bahamas must match almost 60 percent of US offshore crude output to fully offset all economic risks.

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COVID testing system’s providers await payment

A CABINET minister last night disclosed that the COVID-19 visitor testing system’s providers have yet to be paid as the Government determines the most efficient mechanism for getting funds to them.

How to prepare for those inevitable security threats

THE management of risk has been a crucial and complex undertaking for businesses globally. Its efficient and effective handling requires solid corporate governance. Every business must protect themselves against the risk of potential interruption by fully assessing their vulnerabilities and deploying mitigating controls. One such risk is fraud.


A CABINET minister says the Government will not abandon legal reforms that bar foreigners from working on Bahamian-owned fishing vessels despite push back from major wholesalers and processors.

BAIC chief says union rejected ‘olive branch’

THE Bahamas Agricultural and Industrial Corporation’s (BAIC) general manager last night accused the trade union representing its line staff of rejecting “the olive branch” he offered upon taking office.

Economy cannot hit 5k annual new jobs need

The Bahamas will never generate the 4,000-5,000 new jobs that it needs per year over the next two decades by remaining reliant on its ‘twin pillar’ economic model, a top attorney warned yesterday.

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Oil opponents: BPC gives us ‘no choice’

OIL exploration opponents last night said they have “no choice” but to apply for an injunction halting Bahamas Petroleum Company’s (BPC) activities as its drilling ship began its voyage to this nation.

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Resorts voice fears on COVID ‘seeds of doubt’

A HARBOUR Island hotelier is hoping that the “seeds of doubt” sown by COVID-19 lockdowns and other restrictions will evaporate once the Government “lands” on a more consistent approach.

Central Bank expands its demolition to Post Office

The Central Bank yesterday said it was asked to extend the demolition work for its new headquarters to also include the take-down of the General Post Office building across the street.

URCA unveils changes to its pricing structures

The Bahamas’ communications regulator yesterday said pricing structure changes for satellite services and FM spectrum bands will take place within the next few months.

Early 2021 for disaster management regulation

The Bahamian communications industry regulator yesterday said disaster management regulations for the sector will be implemented by early 2021.

Gymnastics centre fails to find rebound ‘miracle’

A Grand Bahama fitness centre and gymnastics school has permanently closed after failing to pull- off the “miracle” needed to rebound from Hurricane Dorian’s destruction of its facilities and equipment.

IAN FERGUSON: Motivating workers to the benefit of all

Employee benefits are any form of compensation paid to employees over and above their regular salary or wages. Employee benefits come in many forms, and are an important part of the overall compensation package offered to workers. Here we outline three common examples of small business employee benefits that will prove most beneficial in 2021.

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Fisheries split deepens on proposed foreign bar

THE fisheries industry’s divide over plans to bar foreigners from working on Bahamian-owned boats deepened yesterday as the two sides hit out at the positions each have taken.