Coronavirus fears trigger the fastest stock market correction of all time
The coronavirus crisis shows no sign of abating and the declaration of a global pandemic, by the World Health Organisation, is imminent. Person to person transmission is now documented across several countries, with some cases, notably in the US, whe
Industry workshop aim is to meet the standard
The Bahamas Bureau of Standards and Quality (BBSQ) teamed with its Caribbean counterpart to host a Freeport workshop on the development of quality regulation for various local industries. The workshop, held on February 19 in partnership with the CAR
Ex-minister explores poultry farm revival
A former Cabinet minister yesterday revealed he is in the “advanced” stage of exploring whether to revive a Grand Bahama poultry operation that once produced 3m-5m pounds of chicken annually. Zhivargo Laing, who is the government’s chief World Trade
Oil drilling is 'reckless response' to debt woe
Activists yesterday blasted the government’s decision to give the environmental go-ahead for oil drilling in Bahamian waters as “a reckless and irresponsible response” to the country’s debt woes. Sam Duncombe, reEarth’s president, told Tribune Busin
Environmental nod 'huge milestone' for oil explorer
A Bahamas-based oil explorer yesterday hailed the receipt of all necessary environmental approvals from the government as “a massive milestone” towards drilling its first exploratory well.Simon Potter, pictured, the Bahamas Petroleum Company’s (BPC)
Tourism set for $325m Dorian hit through '22
The Bahamian tourism industry will lose some $325m over the three-year period required to make a “full recovery” from Hurricane Dorian, a newly-published study has revealed.A 218-page Inter-American Development Bank (IDB) report, representing a full
'End insurance VAT for small business'
The government should extend the elimination of VAT from insurance premiums to small and micro-sized business following Hurricane Dorian, the Inter-American Development Bank (IDB) is urging. The multilateral lender, in its full 220-page study of Dor
Digitise human resources to drive better efficiencies
Improving productivity and efficiency is critical for companies of all sizes in 2020 and beyond. And human resources information systems (HRIS) are helping them achieve this goal consistently. Acquiring HRIS software not only automates these tasks bu
Royal Caribbean's PI land deals revealed
Royal Caribbean’s Bahamian attorney this week confirmed it has acquired multiple real estate parcels on Paradise Island’s western end, but declined to specify whether it is also seeking crown land. Campbell Cleare, partner at McKinney, Bancroft and
Bahamas investor gives oil explorer $36m war chest
A Bahamas-based investor was yesterday said to have added “another brick in the wall” to a local oil explorer’s financing strategy by taking the funding available for its first well to $36m. Simon Potter, Bahamas Petroleum Company’s (BPC) chief exec
Fears coronavirus to cost $2m home deal
A Bahamian company yesterday said it fears losing a $2m modular housing opportunity in this nation due to the coronavirus impacting its Chinese partners and supply chains. Latrae Rahming, Bahamaren’s managing director, told Tribune Business: “I thin
Ex-AG slams 'absurdity' of financial crime listing
An ex-attorney general has slammed the “absurdity” of the criteria that will determine whether The Bahamas should be removed from an anti-financial crime monitoring list. Alfred Sears, pictured , said the Financial Action Task Force’s (FATF) asserti
NHI chief 'puzzled' by insurers' stance
The National Health Insurance Authority’s (NHIA) chairman yesterday said he is “puzzled” by the insurance industry’s call for the scheme to set out a “long-term framework” and strategic plan. Dr Robin Roberts told Tribune Business this had already b
The best way to handle your debt
The warning in Shakespeare’s Hamlet, “neither a borrower nor a lender be”, was aimed at keeping money and friendship at arm’s distance. Once you eliminate close friends from the equation, borrowing can be a powerful tool. The real questions are: How
GB resort rewards its best employees
A Grand Bahama resort honoured several of its 60 employees during the bi-annual Pelican Awards Ceremony.Della Bridgewater, Pelican Bay’s operations manager, said: “2019 was a particularly challenging year for us because of Hurricane Dorian, but our e
