Local Business


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Marinas aim to save '75% of the summer'

Bahamian marina operators yesterday hailed the sector’s June 15 reopening as potentially “saving 75 percent” of the peak summer season, adding: “Our phones are ringing off the hook.” Joseph Dargavage, pictured , managing partner at Harbour Island’s

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Govt extends termination payout date

A Cabinet minister yesterday confirmed that the government has extended the 12-week mandatory redundancy payout deadline to 30 days past the end of the emergency protocols. Dion Foulkes, minister for labour, said the move was designed to prevent per

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Govt halts $130m civil service spend

The government has halted the $130m initiative designed to upgrade civil service skills and transform its delivery of public services to the Bahamian people, the 2020-2021 budget reveals.A close examination of the government’s spending allocations re

Architects urge Building Control reform speed-up

Bahamian architects yesterday urged the prime minister to focus on “the low hanging fruit” of the Building Control Department (BCD) in his efforts to “bulldoze red tape” following the COVID-19 pandemic. The Institute of Bahamian Architects (IBA), vo

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Minister: Bahamas Ltd 'must get going again'

The Bahamas “can’t afford” to keep its tourism industry shut any longer, a Cabinet minister warned yesterday, as he admitted that the threat posed by COVID-19 can only be “mitigated, not eliminated”.Dionisio D’Aguilar, minister of tourism and aviatio

NHI providers: Only one third trained in tele-health

Just one third of the National Health Insurance (NHI) scheme’s primary care providers have been trained in tele-health systems that cover around 20,000 patients, it was revealed yesterday.Dr Monique Thompson, the NHI Authority’s manager of healthcare

DPM urges patience on small business financing

The deputy prime minister yesterday urged entrepreneurs to have patience with the Small Business Development Centre (SBDC) as it lacks the necessary staff to meet all private sector demands in a timely manner. K Peter Turnquest, speaking outside the

IMF: Bahamas faces 'deep recession' risk

The Bahamas faces “a deep recession” due to the “unprecedented crisis” caused by the combination of COVID-19 and Hurricane Dorian, the International Monetary Fund (IMF) has warned.The Fund, in approving this nation’s request for an “emergency” $250m

Shell seeks licence for new power plant

Shell North America says it has become the first company to apply for an independent power producer (PP) licence in The Bahamas through its May 29 submission to local regulators.The energy giant, in a statement, said the approval as an IPP is essenti

Development Bank in $3m COVID support

The Bahamas Development Bank (BDB) yesterday said it has approved more than $3m in COVID-19 financing for small businesses as it prepares to open its doors to the public on June 8. The state-owned institution, in a statement, disclosed that it has p

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'Revisions' sought to Grand Lucayan deal

A Cabinet minister yesterday said “it’s full steam ahead” on the Grand Lucayan’s redevelopment even though the ITM/Royal Caribbean joint venture is seeking “certain proposed revisions” to the deal. Dionisio D’Aguilar, minister of tourism and aviatio

Restaurants 'can't survive' with 60% sales devastation

Restaurants will simply be unable to survive if the loss of 60 percent of their sales persists amid continuing COVID-19 restrictions, one operator told Tribune Business . Mario Cash, the Burger King franchise’s operations manager, told this newspape

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Atlantis further delays reopening to June 25

Atlantis has delayed its phased re-opening until June 25 after informing staff over the holiday weekend that it is “unable to announce a definitive date at this time”.The Paradise Island mega resort has pushed back plans to re-open the Royal Towers,

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From 160,000 to near zero at COVID-hit LPIA

Major Nassau/Paradise Island resorts suffered a 28 percent room revenue fall for the 2020 first quarter just before COVID-19 unleashed its full fury with only 445 passengers exiting The Bahamas’ major airport during April. The Central Bank of The Ba

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Auto industry re-opening 'matter of life and death'

Auto dealers say today’s full sector re-opening was increasingly becoming “a matter of life and death” with as much as “half the industry” in danger of folding had the Government not relaxed COVID-19 restrictions.Ben Albury, Bahamas Bus and Truck’s g