Local Business


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Cable Bahamas axes 87 staff on furlough

Cable Bahamas' top executive yesterday admitted that hopes the COVID-19 crisis would "be short term" have been dashed as it permanently terminated 87 staff.

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Stuart Cove: 'I'm no quitter'

A leading Bahamian excursion provider expects to resume business today with less than 10 percent of pre-COVID volumes, as he pledged: “I’m no quitter.” Stuart Cove, principal of Stuart Cove’s Dive Bahamas, told Tribune Business “we should probably n

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BPL bailout has cost us millions: Bannister warns mountain of bills must be tackled

The Government was forced to pump "millions" into Bahamas Power & Light (BPL) during COVID-19's peak due to customers' inability to pay, it was revealed yesterday.

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BISX targets $3.6bn Gov't debt 'springboard'

The Bahamas International Securities Exchange (BISX) plans to use its capture of the Government’s $3.6bn debt market as “a springboard” to attract further listings. Keith Davies, its chief executive, told Tribune Business that the exchange aimed to

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Barbados takes lead in filling 'tourism gap'

A Cabinet minister yesterday said The Bahamas “must be creative” in filling COVID-19’s “tourism gap” as Barbados moves to allow visitors to stay for one year. Dionisio D’Aguilar, minister of tourism and aviation, while revealing that The Bahamas has

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ActivTrades: The story behind the decisions that lead to war

The history of mankind, has to a large extent been that of its wars, with the winners of any conflict invariably finding themselves in the privileged position of being able to immortalize their own version of the events.

Bahamians drive Out Island tourism restart

Bahamians are driving the “slow” resumption of hotel bookings in the Family Islands as the country gradually re-opens following the COVID-19 lockdown.Leslie Kennedy, general manager of the Pigeon Cay Beach Club on Cat Island, told Tribune Business: “

Authorities 'comfortable' on foreign reserves tools

The deputy prime minister has reassured that the Government and Central Bank have further “tools” they can deploy to prevent a Bahamian dollar devaluation. K Peter Turnquest said the Bahamas’ foreign currency reserves, which closed June 2020 just be

Borrowers reassured: Credit bureau 'won't go back in time'

The Central Bank’s governor has promised Bahamian borrowers that the country’s first-ever credit bureau will “not go back in time” to look at their repayment history. John Rolle disclosed that the credit bureau, which will be operated and managed by

Laying out the roadmap for economic resilience

The UK-based Centre for Local Economic Strategies (CLES) outlines ten indicators that can be used to determine whether an area, or country, is resilient. The first three of these are the strength of the commercial sector; strength of the public secto

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'Opaque' dealings hit City Markets HQ sale

AML Foods is battling a series of “opaque” transactions as it seeks to uphold “the validity” of its $3m purchase of City Markets’ former headquarters building. The BISX-listed food retail and franchise group, in legal filings supporting its bid for

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Parts of BPL network ‘not working optimally’

Bahamas Power & Light’s (BPL) chairman yesterday disclosed that parts of its grid “are not working optimally” due to the utility’s delayed $535m bond refinancing.

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'Devastating' if COVID-19 finds its way to Exuma

Exuma’s Chamber of Commerce chief has warned it will be “devastating” for business and consumer confidence if the border re-opening brings COVID-19 to the island. Pedro Rolle told Tribune Business in a recent interview that many residents remained n

Trading volumes 'vital' to $3.6bn Gov't debt listing

Bahamian financial analysts yesterday said trading volumes will be “the critical factor” when $3.6bn in government bonds begin trading on the stock exchange today. Larry Gibson, vice-president of Colonial Pension Services (Bahamas), told Tribune Bus

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Retailers reveal slow Independence sales

Retailers yesterday revealed sluggish Independence Day sales due to the continuing economic fall-out and uncertainty caused by COVID-19. Pedro Neely, owner of PC Smart Tees, told Tribune Business this was his first year of operations “but we’re tryi