Grand Lucayan lay-offs start on Holistica deal
The Grand Lucayan resort was yesterday said to have begun the “phased” termination of its remaining 208-strong workforce as it readies to complete the property’s sale to the ITM Group/Royal Caribbean joint venture. Michael Scott QC, the Grand Lucaya
BTC, Cable fees '150 times' more' than US access
A niche provider says wholesale direct Internet access (DIA) rates charged by The Bahamas’ two telecommunications giants are “in excess of 150 times” greater than comparable US prices and squeezing out competition.Theofanis Cochinamogulos, chief exec
Small business loans slow with $50m requests
Applications for the government’s COVID-19 small business recovery loan have collectively sought double the $25m initially allocated for the programme, it was revealed yesterday.Davinia Grant, the Small Business Development Centre’s (SBDC) director,
Baha Mar receivers’ actions ‘a shocker’
A New York judge says it is "a shocker" that Baha Mar's former receivers and contractor kept the Bahamian Supreme Court in the dark over
Defence 'layers' key over cyber security
An information technology (IT) specialist yesterday said the Government must upgrade its systems in “layers” to prevent a repeat of recent hacks at the Registrar General’s Office. Scott MacKenzie, chief executive of Cloud Carib, told Tribune Busines
Bahamas 'pressing' for October FATF removal
The Bahamas is “pressing” to be removed by October 2020 from a list of countries with identified weaknesses in their anti-financial crime defences, the attorney general said yesterday. Carl Bethel QC, in is contribution to the 2020-2021 Budget debat
Entertainment venues hopeful on re-opening despite no date
Cinemas and entertainment destinations yesterday voiced optimism they will be able to re-open in July even though the Government’s latest COVID-19 emergency powers Order gives no date for this. Chris Mortimer, Galleria Cinemas’ president, told Tribu
'Expensive money': $150m port bond set for refinance
Nassau Cruise Port will move to refinance its recent $150m bond issue at the earliest possible opportunity, it was revealed yesterday, having elected to keep the offering’s $20m over-subscription. Michael Maura, the cruise terminal operator’s chief
Atlantis defends contract worker re-hiring move
A former candidate for the hotel union’s presidency yesterday called for a government investigation as he blasted Atlantis for keeping himself and other full-time staff on furlough while re-engaging contract workers. Dave Beckford, a 25-year employe
Downtown Nassau sees 70% revenue fall in cruise close
Cruise tourism-dependent downtown Nassau businesses yesterday said they may close down until September with revenues down by up to 70 percent in a bid to survive until the industry’s return. George Mousis, Athena Café’s general manager, told Tribune
Cruise tourism jobs 'simply evaporated'
A Cabinet minister yesterday conceded all cruise tourism-dependent jobs have “simply evaporated for the time being” as he revealed that one major line suggested the industry might not relaunch until mid-November.Dionisio D’Aguilar, minister of touris
$100m for 'serious food security dent'
The Bahamas needs to invest “at least $100m” to boost food security and make “a serious 40 percent” dent in its import bill, an agriculture entrepreneur is arguing.Caron Shephard, president of the newly-formed Bahamas Agro Entrepreneurs Group, told T
Recovery Committee targets early September completion
The prime minister’s COVID-19 Economic Recovery Committee last night said it will present its final report on the road map for The Bahamas’ revival by early September 2020, with consultations to start next month. The committee, in a statement, said
PwC: IT spending 'paying dividends'
A Bahamian accounting firm yesterday said its technology investments are “paying dividends” by upholding productivity throughout COVID-19 even though just ten percent of staff have currently returned to the office. Prince Rahming, territory manger f
Compliance officers elect new executive committee
The Bahamas Association of Compliance Officers (BACO) elected its 2020-2022 executive committee last Friday during its biennial general meeting held via Zoom conference .“Members of BACO should expect more collaboration, increased partnership and int
