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
BPL’s $66m bad debt major worry for bond proposal
The $66m in delinquent debt owed to Bahamas Power & Light (BPL) by homeowners and businesses exposes the potential weakness in plans for the utility’s multi-million dollar refinancing.
Bakery to expand via $75k RBC loan
A Bahamian bakery has obtained a $75,000 loan from Royal Bank of Canada (RBC) through the Small Business Development Centre (SBDC).Gregory Collie started the Cookie Caterer from his home in 2012. It specialises in homemade, freshly-baked cookies that
Contractor president slams 'haphazard' Dorian clean-up
The Bahamian Contractors Association’s (BCA) president yesterday slammed “the haphazard way” in which Hurricane Dorian clean-up and reconstruction is being handled. Michael Pratt told the annual Accountants Week seminars: “I have concerns with the t
Govt in 'revolutionary' $30m digital overhaul
The $30m project to transform the government’s digital/IT infrastructure was yesterday branded “one of the most revolutionary things that has happened in the country for decades”.Jeffrey Beckles, pictured, the Chamber of Commerce’s chief executive, t
Minister in pledge on carbon neutrality
A Cabinet minister yesterday pledged to develop “more resilient communities” and move towards “carbon neutrality” as part of Hurricane Dorian rebuilding and reconstruction efforts. Romauld Ferreira, pictured , minister of the environment and housing
Bank staff threatened in Dorian's aftermath
Bank vaults were destroyed and employees threatened by persons desperate to access cash in Hurricane Dorian’s immediate aftermath, the Clearing Banks Association chair revealed yesterday. LaSonya Missick, who is also Royal Bank of Canada’s (RBC) Bah
Insolvent adviser meets just 25% of $1m liability
An insolvent Bahamas-based investment advisor has been placed in Supreme Court-supervised liquidation due to its remaining cash balances covering less than 25 percent of its $1m-plus liabilities. Ed Rahming, the newly-appointed liquidator for Pacifi
