Local Business


Grand Lucayan to re-open Tuesday

The Grand Lucayan resort will re-open on Tuesday, its chairman revealed yesterday, in a move that will return 200 staff to work and seek to narrow the government’s ongoing subsidy. Michael Scott, head of the Lucayan Renewal Holdings Board, told Trib

Govt urged: 'Secure' Marsh Harbour port

The Abaco Chamber of Commerce president has urged the government to “secure” the island’s major shipping port so that commerce can again flow freely and boost post-Dorian recovery. Ken Hutton, pictured , told Tribune Business that while the November

DPM: 'Open data culture' critical to better governance

The deputy prime minister yesterday said the creation of “a culture of open data in government” is critical for national development and better decision-making.K Peter Turnquest, addressing a forum held by the Ministry of Finance in conjunction with

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Dorian's $436m fiscal blow needs 'tight' rein

The government was last night urged to keep a “tight” rein on post-Dorian recovery after the storm blew an estimated $436m hole in its fiscal deficit target for 2019-2020.Robert Myers, the Organisation for Responsible Governance’s (ORG) principal, to

Ansbacher settles $10m legal battle

A Puerto Rican bank has blamed Ansbacher (Bahamas) for the now-ended controversy surrounding the latter’s claim that $10.087m of its funds were “wrongfully retained”.Ruben Mendez Benabe, an attorney for Bancredito International Bank, told Tribune Bus

Fisheries loss far more than PM's $11m

Senior fisheries executives yesterday argued that the prime minister’s $11m Dorian damages figure had “significantly” under-estimated the storm’s impact on the sector.Keith Carroll, the Bahamas Commercial Fishers Alliance’s (BCFA) vice-chairman, who

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Cable 'steps up' its targeting of enterprise niche

Cable Bahamas yesterday revealed it plans to “step up” its targeting of large-scale corporate and government clients with custom-made communications technology solutions.Franklyn Butler, the BISX-listed communications provider’s chief executive, told

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Cable 'coming right' with 69% loss drop

Cable Bahamas top executive yesterday said the 69 percent reduction in fourth quarter losses showed its performance was "coming right" regardless of the $332.5m Summit Broadband sale.

Insurance agent adds new broker

Bahamas-based RMS Insurance Agents and Brokers has added broker, Mark Reynolds, to its team.Specialising in life and health, as well as property and casualty insurance, he has more than 20 years’ experience in local and international markets. “We are

Cable 'coming right' with 69% loss drop

Cable Bahamas top executive yesterday said the 69 percent reduction in fourth quarter losses showed its performance was “coming right” regardless of the $332.5m Summit Broadband sale.Franklyn Butler, the BISX-listed communications provider’s chief ex

GB Power: 90% now electrified

Grand Bahama Power Company (GBPC) yesterday confirmed that 90 percent of its customer base have seen electricity services restored following Hurricane Dorian.Dr Hubert Minnis, the Prime Minister, revealed the energy monopoly’s restoration progress in

BISX adds an icon to its listings roster

The Bahamas International Securities Exchange (BISX) yesterday announced it has added the Lehoca Fund IC to its roster of listings. Lehoca is established as an Investment Condominium (ICON) under the Investment Condominium Act 2014, and is registere

Bahamas targeting mega yacht market

Ministry of Tourism officials drove the message that The Bahamas is open for business post-Dorian to high net worth attendees at the recent Monaco Yacht Show.The event, which took place from September 25 to 28, featured more than 600 exhibitors and 1

'Grassroots' approach urged on building code

The government was yesterday urged to embrace a “grassroots” approach to revising the country’s building code rather than the narrow internal reviews employed before.Quentin Knowles, the Bahamas Society of Engineers (BSE) president, told Tribune Busi

Outlook takes aim at 'sleeping giant'

The 13th annual Exuma Business Outlook conference is scheduled to take place on October 24 at Sandals Emerald Bay Resort, Georgetown.Speakers include Pedro Rolle, president, Exuma Chamber of Commerce; John Rolle, governor, Central Bank of The Bahamas