Port Lucaya retailer set ‘to pull the plug’
A jewellery retailer is “preparing to pull the plug” on his 25-year presence in the Port Lucaya Marketplace, after Memories’ pull-out became the latest in a series of “devastating” blows for businesses in the area.
Redundancy ‘cap’ raise by 2/3 to ‘cripple’ firms
Removing the Employment Act’s ‘cap’ on redundancy pay will “cripple and/or bankrupt most businesses” in the Bahamas, the Chamber of Commerce has warned, resulting in mass lay-offs and company closures.
Bahamas remains in cruise ‘driving seat’
The Minister of Tourism yesterday downplayed the impact from Norwegian Cruise Lines switching 25 sailings from the Bahamas to Cuba, expressing confidence that this nation will remain in the “driver’s seat” as a top Caribbean cruise destination.
Minister backs Junkanoo Carnival’s privatisation
The Minister of Tourism yesterday backed the privatisation of Junkanoo Carnival, adding that the Government would be able to regain its near-$20 million initial investment over time.
Chamber conference aims to push economy ‘in the right direction’
The Bahamas Chamber of Commerce and Employers Confederation (BCCEC) is set to host a conference that will examine the state of the Bahamian economy.
Chamber: Govt ‘listens to us’
The Bahamas Chamber of Commerce’s (BCCEC) chief executive yesterday defended its relationship with the Government, stating: “They listen to us”
‘Ready to pull trigger’ despite Memories loss
Port Lucaya Marketplace’s principal yesterday said he “hasn’t run away” as a result of Memories pull-out, and remains willing to invest “many tens of millions” in developing an “Atlantis-style” water park destination in Freeport.
Cruise line drops Nassau, Freeport in favour of Cuba
A major cruise line yesterday announced it was swapping regular calls on Nassau and Freeport for an overnight stay in Havana, a move that underscores the increased competitive threat to Bahamian tourism from warmer US-Cuba relations.
VAT speech joke ‘beyond the pale’
A well-known fiscal hawk yesterday said it was “beyond the pale” for the Bahamian political and business elite to brush off the Government’s financial woes as a joke.
Brewery unveils $2m warehouse expansion
The Bahamian Brewery and Beverage Company yesterday unveiled its latest $2 million expansion through the addition of a new warehouse, a move likely to create around 30 jobs.
Port Lucaya in fifth month of rent discounts
Port Lucaya Marketplace has entered the fifth month of a ‘rent discount’ initiative to ease a post-Hurricane Matthew burden for tenants that has now been exacerbated by Memories’ pull-out.
Marathon Bahamas in $2.5m spending boost
Organisers of Sunshine Insurance Marathon Bahamas (SIMB) yesterday disclosed that this year’s event helped generate just over 1,800 room nights and an estimated $2.5 million in visitor spending.
FNM deputy seeks Govt reassurance on GB hotels
The FNM’s deputy leader yesterday urged the Government to provide reassurance on the fate of Grand Bahama’s major hotels, telling this newspaper: “We don’t see an end in sight quite yet.”
Bran: ‘Crime is killing economy’
The Democratic National Alliance’s (DNA) leader yesterday warned that “crime is killing the economy” in multiple ways, arguing that the annual $434 million cost to the Bahamas was actually an under-estimate.
Aliv works with majority owner so ‘no cannibalising’
Aliv and its majority shareholder were yesterday said to be co-ordinating their respective capital raisings to ensure they will “not cannibalise” each other, with both looking to close in the 2017 first quarter.
