Local Business


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Bahamas downgraded by Moody's

The scale of the economic and fiscal challenges facing the new Philip Davis-led administration were laid bare Friday, after Moody’s further downgraded the Bahamas’ sovereign creditworthiness.

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$52m Bahamas boost from single cruise line

A 156 percent increase in Nassau calls by just one cruise line has the potential to generate a $52m-plus boost for the Bahamian economy in 2022, Nassau Cruise Port’s top executive revealed yesterday

Bahamian insurers under rating review

A rating agency’s decision to place two Bahamian insurance companies under review due to a $90.5m acquisition by its parent group was yesterday said to be routine and of no concern.

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Stronger shipping waste regulations ‘ready to go’

The outgoing environment minister says regulations to strengthen ship waste disposal procedures are “ready to go” as the Government awaits a report on the recent invasive beetle controversy.

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Freeport faces ‘disaster’ if 2016 Act not repealed

Freeport’s 2016 investment legislation is “an absolute disaster” that must be repealed if small and medium-sized businesses are to invest in the city, a prominent attorney warned yesterday.

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COVID measures ‘can’t last forever’

The Bahamas “cannot continue to live under restrictive COVID-19 measures” if it wants its tourism industry and wider economy to fully rebound from the pandemic, a businessman said yesterday.

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IAN FERGUSON: Beware peril of unfair employee dismissals

When you terminate an employee’s contract without a fair reason, it is an unfair or unlawful dismissal. Sometimes these issues are dealt with at Industrial Tribunals but, quite often, there are many terminations that go unaddressed.

Bar owner: Let us open in morning

A pub owner yesterday suggested that he and other bar operators should be allowed to open at 9am in the morning to compensate for the hours lost to the night-time curfew.

Downtown business raises cruise concern

A downtown Nassau business yesterday challenged whether the cruise lines are giving their passengers correct information as just 20 percent are currently disembarking the vessel while in port.

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Secret austerity deal denied

A senior Ministry of Finance official yesterday branded as “absolutely incorrect” assertions that the Government cut a secret austerity deal with its lenders in return for last year’s $825m foreign currency bonds.

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Honeymoon cancelled

The Bahamas’ next administration will not have the luxury of a “honeymoon” upon taking office, a prominent banker warning yesterday: “It’s going to be right about the business because there’s a lot we must right.”

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Minister: We stopped developer ‘free for all’

A Cabinet minister says the Minnis administration stopped a development “free for all” by introducing new laws and regulations similar to what foreign investors must comply with in their home nations.

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‘Pent-up’ demand to invest post-election

Significant “pent-up demand” should fuel an increase in Bahamian capital market investment activity heading into 2022 with over $400m in transactions at various stages of readiness, a top banker said yesterday.

Businesses urge new Gov’t: Get COVID-19 under control

Business owners yesterday said they want the incoming administration to focus on controlling the COVID-19 pandemic so that The Bahamas can return to something resembling normality.

Forum aiming to ‘demystify’ COVID

TCL Group will this Monday host a virtual roundtable featuring multiple medical professionals in a bid to “demystify” the issues and concerns surrounding COVID-19.