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Nassau/PI hotels enjoy 18% room revenues growth

Major Nassau/Paradise Island resorts shrugged off a modest one percent room revenue fall-off in December to post an 18 percent gain for the 2019 full year, it was revealed yesterday.

IAN FERGUSON: Ensuring productivity among remote staff

With the call being made for public servants and private sector employees to return to work, many workers are questioning whether a return to centralised work space is necessary. COVID-19 has certainly tested our capacity to engage in productive work

EDITORIAL: Casting doubt on the value of insurance

IN the wake of Hurricane Dorian, the government announced its plans for financial assistance for people whose uninsured homes had been damaged by the storm. But for those affected, this was no pay day – the sums being paid out were such that they were a little help in the pocket, not a chance to rebuild completely.

Maritime Authority takes tax contribution to $96m

The Bahamas Maritime Authority (BMA) took its two-decade contribution to the Public Treasury to near-$96m following its last financial year in which total comprehensive income rose by 8.7 percent.The authority’s annual report for the year to end-June

Webshops economic vampires

As is commonly known, the public health crisis brought on by the COVID-19 pandemic has resulted in most of our economy being shut down.

'Only 20% qualifying for average mortgage'

Just 20 percent of Bahamians are able to service and qualify for an “average” mortgage, the Bahamas Development Bank’s (BDB) strategic transformation report estimates.Canada-based International Financial Consulting (IFC), in a document tabled in the

Real estate president clarifies market's state

The Bahamas Real Estate Association (BREA) yesterday waded into the mixed assessments of the industry’s strength following its emergence from COVID-19 lockdown. The association moved to bring context and perspective as some brokers, agents and firms

EDITORIAL: Crime leaving residents still feeling aftermath of hurricane

IN the aftermath of Hurricane Dorian, crime was a major concern for residents of Abaco. There were fears over looting, fears over inadequate policing with officers not going out at night with no power meaning no lights on the streets.

Legal debts could force Nygard sale

ENVIRONMENTAL activists are seeking a Supreme Court order to have Nygard Cay sold to satisfy the $2.2m debt Canadian fashion mogul Peter Nygard owes in legal costs from illegal dredging activities.

FINCO: Profits cut 35% with $125m bad loans

FINCO’s $125m bad loan pile resulted in a 35 percent cut to the mortgage lender’s profits for the nine months to end-July 2018, with little sign of improvement in key indicators.Management, in a statement to shareholders, blamed the more than $6.5m d

National debt grows $137m

The Bahamas’ national debt increased by $136.5m during the 2018-2019 fiscal year’s first quarter, taking the total sum owed by this nation to around the $8bn mark. The Ministry of Finance’s “snapshot” report, its first effort at quarterly financial r

Don’t let go: Plastics ban to include $2,000 balloons fine

THE upcoming ban on single-use plastics will also outlaw the release of balloons, according to draft legislation that details fines up to $3,000.

Ex-senator: Put $20m job spend to solar loans

A former FNM senator yesterday urged the government to make Bahamians “energy producers” by redirecting its $20m annual job allocation to solar loans.John Bostwick II told Tribune Business that true “liberalisation of the energy sector” would allow B

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

IAN FERGUSON: A retiring strategy you can bank on

Many employees are making the mistake of taking too long to prepare for retirement. After working diligently for more than 30 years you should set yourself up financially for your “golden years”. The last 12 months before you call an end to your care

Colina 'proud' over balance sheet praise

Colina Insurance Company yesterday said it was “particularly proud” that the industry’s top rating agency had praised its strong balance sheet in the aftermath of Hurricane Dorian. Catherine Williams, finance vice-president for the life and health in

IAN FERGUSON: How you can practice better corporate citizenship

Most companies have engaged in some form of corporate social responsibility over the course of their business lifespan. Good corporate citizenship means that, in the normal course of business, a company is operating in ways that enhance society and t

Realtors hope ‘best year ever’ continues into 2022

Bahamian realtors are looking to ensure that 2022 is a continuation of the “best year ever” in high-end property transactions.

Local broker’s Grand Lucayan role is ‘exactly what we want’

A Bahamian realtor yesterday hailed the involvement of a local broker in facilitating the Grand Lucayan’s sale as “exactly what we want”.

Uncertainty over govt policy on contract terminations

THE Davis administration’s policy on termination clauses for contract workers is unclear, with former Minnis administration officials saying they met a number of fixed contracts when they took office after the 2017 general election.

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