ATLANTIS SALE IS ABANDONED: Owners take resort off the market and now plan to reinvest
Atlantis will not be sold "at this time", it was revealed last night, with its owner instead deciding to unleash a "significant" three-year investment strategy despite receiving multiple offers.
Central Bank raises growth forecast to 'flat'
The Bahamas’ 2020 economic growth prospects have improved to “flat”, it was revealed yesterday, with the Central Bank less certain that this nation will suffer a minor contraction. John Rolle, its governor, said it “doesn’t want to be wedded to a nu
$2m lighthouse project aiming to 'energise' PI
A Bahamian entrepreneur yesterday voiced optimism that his planned $2m transformation of Paradise Island’s western tip will “energise the restoration of other historical sites” throughout this nation.Toby Smith, principal of Paradise Island Lighthous
'Be sceptical' of all sides on free trade
An international trade attorney says that The Bahamas will “definitely” have to slash its average Customs duty rate in half if it continues to pursue full World Trade Organisation’s (WTO) membership. Paul Lalonde, partner and head of international t
30 jobs lost as Julius Baer closes
A major Swiss-owned financial institution yesterday revealed the closure of its Bahamas business with the loss of 30 jobs in the latest blow for the financial services industry.
Staff fume at salaries change
The hotel union yesterday warned "another fight" is brewing over the decision by Atlantis to switch from a weekly to bi-weekly staff payroll, a top official saying: "It's not sitting well."
Renewable provider in energy efficiency drive
A Bahamian renewable provider is providing energy savings upgrades to both local resorts and government health clinics, while aiding efforts to make the country more resilient post-Dorian.Greg Uptagrafft, PowerPlus Bahamas’ principal, said: “Because
First MSC graduate joins cruise vessel
The first of 220 Grand Bahamians training to work on Mediterranean Shipping Company (MSC) cruise ships has taken his post after the vessel docked in Freeport Harbour. The MSC Divina welcomed Raymond Campbell to its crew last Tuesday as part of the M
Event to put Bahamas 'on the yachting map'
The first Bahamas Charter Show is aiming to “put this nation on the yachting map”, it was revealed yesterday, with more 20 boats and 80 registered brokers already registered to attend. Dr Kenneth Romer, the Ministry of Tourism’s executive director o
$188m SOE subsidy 'definition of insanity'
The government is awaiting “imminent” receipt of a study on how to “optimise” the loss-making state-owned enterprises (SOEs) responsible for virtually its entire first half $188m fiscal deficit.
Polymers lays-off 11 as plastics ban bites
Polymers International last night confirmed it had terminated 11 employees due to “reduced demand” for its products as a result of the growing global ban on Styrofoam and single-use plastics. Greg Ebelhar, the Freeport-based manufacturer’s chief ope
DRILLING ON OFFSHORE PLATFORM IMMINENT
A Bahamas-based oil explorer yesterday said it is “ready to deliver” on a 14 year-old promise after confirming it will drill its first exploratory well in Bahamian waters in April 2020.
Minister 'won't intervene' on Compass Point issue
Compass Point’s owner has been urged to resolve his hotel licensing grievances with the regulator, a Cabinet minister saying: “This is not a case where I can intervene.” Dionisio D’Aguilar, minister of tourism and aviation, told Tribune Business tha
Disney unveils website for its Eleuthera project
Disney Cruise Line has unveiled a website dedicated to its Lighthouse Point project in a bid to keep Bahamians informed about progress on the Eleuthera-based destination. The website, www.DCLLighthousePoint.com, was designed by a Bahamian company, F
Internet gives 30% boost for Bahamian tourism forecasts
The Bahamian tourism industry’s ability to accurately predict visitor arrivals trends increases by 30 percent if it incorporates Internet search data into its forecasts, an IMF paper has revealed. The report Where should we go? Internet searches and
