Local Business


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Sea level rise threat to 15% of Bahamas' GDP

The Bahamas is among the top four nations forecast to be hit hardest by rising sea levels, a rating agency warned yesterday, with up to 15 percent of annual GDP and 11 percent of its people in peril. Moody’s, unveiling an assessment about the long-t

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BPL’s 15% fee ‘cost neutral’ by August

Bahamas Power & Light (BPL) is hoping to make the extra charge associated with its $650m refinancing “cost neutral” for consumers by August 2020, its chairman revealed yesterday.

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BPL chair admits: ‘We’ve lost trust of our customers’

Bahamas Power & Light’s (BPL) chairman yesterday admitted the utility has “lost the trust of most of our consumers”, while also conceding: “Our customer service is terrible.”

Shell: Bahamas 'front runner' on clean energies

A Shell executive yesterday said The Bahamas can be “a real front runner” in adopting cheaper, more environmentally-friendly fuels through New Providence’s proposed new multi-fuel power plant.Markus Hector, Shell LNG marketing and trading’s general m

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Residents to receive $500m in reinsurace

The Central Bank’s governor yesterday said Bahamas residents were in line to receive 50 percent of the more than $1bn in reinsurance settlement inflows to cover Hurricane Dorian losses. John Rolle told the Bahamas Business Outlook conference: “Colle

Canadian trade mission to 'matchmake' locally

A Canadian diplomat yesterday revealed that 12 of Canada’s most “progressive” companies will be present today for a Dorian-related reconstruction forum being held at the Melia resort. Laurie Peters, Canadian High Commissioner to The Bahamas and Jama

Bahamas ‘top of the heap’ before Dorian

The Bahamas was “top of the heap” prior to Hurricane Dorian with its 17 percent hotel occupancy growth leading the Caribbean, a top regional tourism executive said yesterday.

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$1bn pledge centres on health projects

A US group’s $670m proposal to transform Bahamian healthcare infrastructure is just one of “five offers on the table”, a Cabinet minister revealed yesterday, adding: “It’s nice to have options.”

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BOB's aid to Miller 'above and beyond'

Bank of The Bahamas yesterday said it "went above and beyond" in trying to help Leslie Miller and his family remedy $25-$28m worth of loan facilities that had been "seriously delinquent for years".

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Minister ‘not worried’ on Lucayan airport demand

A Cabinet minister yesterday said he is “not worried” that the ITM/Royal Caribbean joint venture wants a government guarantee the airport will be fixed before they close the Grand Lucayan deal.

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Chamber director: We have ‘solution’ for work permits

A Chamber of Commerce director yesterday urged labour policymakers to meet with him over a more effective “solution” to their understudy demands, and warned: “Not talking creates problems.”

Law firm pledges ‘full co-operation’ over alleged scam

A major Bahamian law firm yesterday said it will fully co-operate with any local investigation after a former client denied involvement in a much-publicised alleged scam involving a Nigerian oil explorer.

BFSB rewarded over industry’s promotion

The Bahamas Financial Services Board (BFSB) has been honoured with International Investor’s 2020 award for Outstanding Promotion of Financial Services.

Realtor tops firm in just three years

A realtor has become his company’s top producer just three years after he decided to swap accounting for a career in the industry.

Port Authority names corporate affairs head

The Grand Bahama Port Authority (GBPA) has named Philcher Grant as director of group corporate affairs and government relations at its Port Group Ltd affiliate.