Govt urged: Get GB airport deal closed 'before too late'
A top Freeport hotelier yesterday warned the government it has little time to acquire Grand Bahama International Airport “before it’s too late” to swiftly rebuild the island’s tourism product.Magnus Alnebeck, Pelican Bay’s general manager, told Tribu
Union's 'red flag' over CIBC buyer
The Bahamas Financial Services Union’s (BFSU) president yesterday voiced concerns about an early “red flag” that has been raised over CIBC FirstCaribbean’s proposed purchaser. Theresa Mortimer told Tribune Business that initial checks with Colombian
Oil explorer gains near certainty on well funds
An oil explorer yesterday said it has achieved near-certainty over the financing of its first Bahamas exploratory well after its latest $11.4m fund raising raise beat the target by 60 percent.Bahamas Petroleum Company (BPC), in a statement to the mar
BAMSI, Tourism team on fishing guide certification
The Bahamas Agriculture and Marine Science Institute (BAMSI) is teaming with the Ministry of Tourism to certify the “new generation of fly-fishing guides” that is key to growing the industry.The two public sector entities, unveiling the fly fishing c
Govt 'vets' aircraft registry agreement
The government is “vetting” the proposed contract that will formally launch the creation of a Bahamas aircraft registry, a Cabinet minister said yesterday. Dionisio D’Aguilar, minister of tourism and aviation, declined to commit to a timeline for wh
Abaco resort to 'keep hope alive' through pizza addition
An Abaco resort is aiming to complete its new pizzeria by February 2020 as it seeks to rebuild from “major damage” inflicted by Hurricane Dorian. Joshua Stivers, the Treasure Sands Club’s managing director, told Tribune Business it was “not focusing
Ex-Bahamas tourism official to be honoured
A Bahamian tourism executive will be honoured at the Caribbean Media Exchange (CMEX) Leadership Awards 2019 for more than 35 years of service to the industry. Frank Comito, pictured , the former Bahamas Hotel and Tourism Association’s (BHTA) executi
Central Bank: Dorian inflicts a $2.5bn blow
The Central Bank's governor yesterday forecast that total Hurricane Dorian losses could exceed $2.5bn at the "low end" - a sum equivalent to 20 percent of The Bahamas' total economic output.
Central Bank eyes 'movable collateral registry' initiative
The Central Bank is set to study the feasibility of creating “a registry to track movable chattel pledged by borrowers”, such as vehicles, in a bid to improve credit access for deserving borrowers. John Rolle, the Central Bank’s governor, yesterday
‘Totalled’ Abaco resort awaiting summer re-open
An Abaco resort operator yesterday said her property is unlikely to re-open until summer 2020 after it was “totalled” by Hurricane Dorian with “nothing left of the marina”.
6,000 restructure debt during 2019 first half
More than 6,000 Bahamian borrowers applied for debt consolidation loans during the 2019 first half, making it the most sought-after form of consumer credit by some distance. The Central Bank’s latest Lending Conditions Survey, released yesterday, re
CIBC deal positive if 'breaks up the cartel'
An ex-Central Bank governor yesterday said the proposed acquisition of CIBC FirstCaribbean could be positive for the Bahamian economy if it “breaks up the cartel” in the banking industry.James Smith, pictured, told Tribune Business that the Colombia-
Employers have 'nothing to fear' on union merger
Top government labour officials yesterday backed the proposed merger of the two trade union umbrella organisations as an overdue “step in the right direction”, and said employers have “nothing to fear”. John Pinder, director of labour, told Tribune
Baha Mar bankruptcy judge to lead seminar
Bahamian insolvency professionals are teaming with an international association to finalise plans for a one-day seminar to be held at the Baha Mar Convention Centre next month. The International Association of Restructuring, Insolvency and Bankruptc
Bahamas 'on it' during world's top boat show
Marina operators yesterday said The Bahamas “was on it” at the world’s largest boat show in a bid to lure more yachting business and aid post-Dorian recovery efforts. Joe Dargavage, vice-president of the Bahamas Marinas Association (BMA), and owner
