Archive | Business

RBC To Slash As Many As 200 Jobs

RBC To Slash As Many As 200 Jobs

There will be layoffs at the Royal Bank of Canada (RBC), according to RBC’s Managing Director, Nathaniel Beneby Jr. While he could not confirm exactly how many jobs have been made redundant as the bank’s “holistic” review of costs continues, Mr Beneby said he was confident that net reductions would be “favourable”. The Bahama Journal [...]

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CHEC Americas Engages Bahamian Engineering Firm On Abaco Port Project

Chinese Harbour Engineering Company (CHEC) has engaged the expertise of local engineering firm Caribbean Coastal Services Ltd. (CCS), as the $39 million North Abaco Port project moves one step closer to breaking ground. The Bahamian Engineering firm will review, comment, stamp and seal CHEC’s designs for the Abaco port to make sure all the drawings [...]

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WTO Exec. Pitches Benefits Of Bahamas Accession

Estimates suggest that the global economy stands to benefit as much as a trillion dollars from its agreement to the World Trade Organisation (WTO) with lower estimates in the range of $400 billion, still quite a significant figure. WTO Deputy Director General David Shark revealed as much while making a strong case on the benefits [...]

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FOCOL Elects New Board Of Directors

Focol Holdings Limited (FOCOL) has elected a new board of directors. Franklyn Wilson, Alfred B. Coakley, Anthony Robinson, Deborah Archer, Rosel Moxey, Russell Miller, John Bethell and Walter Wells have all been elected to serve. Mr. Wilson was also reappointed FOCOL director – a position he has held for more than three decades. Four directors [...]

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FNM Senator: Bahamas Not Ready For VAT

The government has yet to reveal the introductory rate or date for implementing Value Added Tax (VAT), but an Opposition politician is convinced The Bahamas will not be ready by the initial proposed timeline of July 1. In fact, Free National Movement (FNM) Senator Kwasi Thompson said this is “highly unlikely.” “The government has not [...]

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Blackout Could Cost BTC More Money

The Bahamas Telecommunications Company (BTC) could be forced to shell out an additional $2 million to the Utilities Regulation and Competition Authority (URCA) in fees for that nationwide blackout experienced last month, Journal Business understands. BTC has already announced that the massive network failure caused them $1.7 million as they rolled out their “Back on [...]

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Gov’t To Rake In Millions From Bimini Upgrades

The government stands to make millions of dollars in departure fees and landing taxes following upgrades to Bimini’s International Airport coupled with the completion of a cruise jetty on that tiny island. According to Genting Group Chairman K.T. Lim, $44,000 was collected in such fees and taxes back in 2012 and another $115,000 the following [...]

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BFSB Launches Power People Initiative

BFSB Launches Power People Initiative

The Bahamas Financial Services Board (BFSB) is set to launch its latest “People Power” initiative – The Bahamas Millennials Society – a networking and mentoring club of financial services industry millennial workers. Millennials are people born between the early 1980’s to the early 2000’s. From inception BFSB has had a targeted focus on human capital [...]

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GB Shipyard Takes The Bahamas to the World

Grand Bahama Shipyard (GBS) helped Cruise Shipping Miami celebrate the 30th anniversary of their cruise ship convention by hosting a Bahamian-style reception for participating clients. Cruise Shipping Miami is an international exhibition, and the cruise industry’s premier global event, held annually in Miami, Florida at the Miami Beach Convention Centre, and attracts anywhere from 900 [...]

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“Lacklustre” Room Occupancy Levels Reported

“Lacklustre” Room Occupancy Levels Reported

Preliminary data from the Central Bank of the Bahamas’ Monthly Economic and Financial Developments, for February 2014 suggest a lacklustre outturn for the tourism sector over the last month. According to the report released last week, the data analysed reflected persistent sluggishness in the high value-added stopover visitor segment. “Based on a sample of large [...]

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