‘Shock’ over Freeport retailer closure claims
Executives at a major Freeport hardware store have revealed they were “just as shocked as anyone else” to hear “rumours” of its demise following the hit from Hurricane Dorian.
Outsourcer expands via 30% equity sale
A Caribbean business process outsourcer, which has an operation in Freeport, has sold a collective 30 percent equity stake to two Jamaican private equity firms to help finance further regional expansion.
$30m smart meters will help monitor BPL's bills
Bahamas Power & Light (BPL) will invest $30m in rolling-out Advanced Metering Infrastructure (AMI) that it sees as critical to slashing delinquent private sector debts, its chairman revealed yesterday.
Bahamas is 'so far behind curve' on renewable goal
The Bahamas faces a “tall order” to meet the National Energy Policy’s 30 percent renewable energy penetration by 2030 goal because it is “so far behind the curve”, a local provider warned yesterday.Guilden Gilbert, vice-president of Alternative Power
Union seeking 'seat at table' on CIBC deal
Union leaders have written to the government seeking a “seat at the table” over the approval of CIBC FirstCaribbean’s majority sale to a Colombian-headquartered financial group.Teresa Mortimer, the Bahamas Financial Services Union’s (BFSU) president,
Follow CIBC lead on BOB, ex-FNM chair tells govt
A prominent Bank of The Bahamas shareholder yesterday urged the government to follow CIBC’s lead and “be more aggressive” in seeking to exit its 82.6 percent majority ownership of the lender. Darron Cash, the former Free National Movement (FNM) chai
Long Island eyed by cruise ships
Long Island is being eyed as “a preferred cruise ship destination” by two operators, its MP revealed yesterday, with vessels set to make four calls in 2020. Adrian Gibson, also executive chairman of the Water and Sewerage Corporation (WSC), told the
Long Island undergoes infrastructure overhaul
A Cabinet minister yesterday updated Long Island residents on multiple infrastructure investments designed to improve the island’s capital stock, economy and resilience against climate change. Desmond Bannister, minister for works, told the Long Isl
Dorian-hit islands seeking $5.7m in business finance
The Small Business Development Centre (SBDC) has received $5.7m in total financing requests from the two Dorian-devastated islands in the storm’s aftermath, a senior advisor said yesterday. Winston Rolle, also a former Bahamas Chamber of Commerce pr
Pirate attraction sails into cruise conference
The Bahamian investors behind the Blackbeard’s Revenge attraction generated significant interest at the Florida-Caribbean Cruise Association’s (FCCA) recent 26th annual conference. Blackbeard’s Revenge , a ship that mirrors the design of pirate vess
Govt 'won't abandon' LI airport upgrade as investors shy away
The government’s top aviation official yesterday pledged it “will not abandon” the planned revamp of Long Island’s Deadman’s Cay airport despite failing to attract private investors to the project. Algernon Cargill, pictured , the Ministry of Touris
NIB smart card set for debit upgrade
The National Insurance Board (NIB) is aiming to upgrade its smart card to a “debit card” through a tender process that will be launched shortly, its director said yesterday.Nicola Virgill-Rolle told the Long Island Business Outlook conference that th
Shell open to new power plant IPO
Shell North America last night confirmed it is willing to permit Bahamian ownership in part of its New Providence power plant project through what could be this nation’s largest-ever public share offering. A spokesperson for the global energy giant,
Bahamas' 6.4% bookings drop-off 'pretty remarkable'
A Cabinet minister last night said it was “pretty bloody remarkable” that The Bahamas’ forward bookings for November to January 2020 were only off 6.4 percent given Hurricane Dorian’s impact. Dionisio D’Aguilar, minister of tourism and aviation, tol
Baker's Bay alone a $1bn Dorian loss
Dorian-related insurance losses are “heavily skewed” towards Abaco with one resort development potentially accounting for $800m to $1bn worth of claims by itself. Charles Johnson, a Bahamas Insurance Association (BIA) council member, told the annual
