Business
May 14, 2013
When Mario Carey opened the doors of a new real estate firm on the outskirts of downtown Nassau in 2008, the global economy was reeling from a burst in the housing bubble. He sat alone with one secretary, a history as the industry's super salesman and a dream -- that he would sell luxury properties despite the market by offering extraordinary personal service, and he would find enough time to dedicate himself to autism awareness. read more »
May 13, 2013
Two star employees were recently named the internal communication faces of The Bahamas Telecommunications Company (BTC) after winning photography and interview video challenges and a series of quizzes on company services and products. Helpful, personable personality traits, a friendly and kind response to fellow employees and demonstrating team spirit, were also a contest factor. read more »
May 13, 2013
One of the country's leading real estate brokers is heralding the major infrastructure works taking place in New Providence as the catalysts that will help the economy grow.
Larry Roberts, CEO of Bahamas Realty, estimates that 90 percent of the construction that's being undertaken in the capital is as a result of the redevelopment of the Lynden Pindling International Airport, construction of the $3.6 billion Baha Mar resort and the New Providence Road Improvement Project (NPRIP).
"These three things that have been going on really are the catalysts that are going to help grow the economy. Let's just hope that developers will piggyback on that development that's going on. We are already starting to see some of that," he explained.
"Thank God for Baha Mar. Between that, the new airport, and all of the road works, you're looking at 90 percent of the construction that's going on in the country and thank goodness that all of that has been happening during this slow period."
Roberts believes the tide has turned and the U.S. economy seems to be on the road to economic recovery.
The Bahamas is sure to follow and see some major improvements within the next 12 months.
"Fortunately for the world, the U.S. economy seems to be on the road to recovery and historically The Bahamas has followed the U.S. market by about six to 12 months. So we're very hopeful and bullish about the rest of this year. The market is improving and I feel as though certainly within the next 12 months we should start to see some improvement," he shared.
Meantime, Roberts is looking to push the hospitality side of his real estate business, because as it stands there is no local commercial real estate firm with that focus. It's an opportunity, Roberts pointed out to Guardian Business that The Bahamas is currently missing out on.
"I think the revenue that this sector of the business can bring is unlimited. The opportunity is there, we just have to go after it," he revealed.
"I think an area where we could be much more proactive is in the hospitality side of the business. There is no local commercial real estate company that is focused on hospitality, that's servicing all those businesses that cater to tourists - hotels being the main ones."
"It could be marinas or attraction parks. It's certainly an area that we are concentrating on and we have actually formed a hospitality group within our region. Because it's such a new offering for us, we don't necessarily have all of the expertise locally in that area, but we do have it through our affiliation with NAI."
His comments to Guardian Business come as NAI Bahamas Realty, Bahamas Realty's commercial division, wrapped its NAI Regional Conference last week with top realtors, representing nine countries.
read more »
Larry Roberts, CEO of Bahamas Realty, estimates that 90 percent of the construction that's being undertaken in the capital is as a result of the redevelopment of the Lynden Pindling International Airport, construction of the $3.6 billion Baha Mar resort and the New Providence Road Improvement Project (NPRIP).
"These three things that have been going on really are the catalysts that are going to help grow the economy. Let's just hope that developers will piggyback on that development that's going on. We are already starting to see some of that," he explained.
"Thank God for Baha Mar. Between that, the new airport, and all of the road works, you're looking at 90 percent of the construction that's going on in the country and thank goodness that all of that has been happening during this slow period."
Roberts believes the tide has turned and the U.S. economy seems to be on the road to economic recovery.
The Bahamas is sure to follow and see some major improvements within the next 12 months.
"Fortunately for the world, the U.S. economy seems to be on the road to recovery and historically The Bahamas has followed the U.S. market by about six to 12 months. So we're very hopeful and bullish about the rest of this year. The market is improving and I feel as though certainly within the next 12 months we should start to see some improvement," he shared.
Meantime, Roberts is looking to push the hospitality side of his real estate business, because as it stands there is no local commercial real estate firm with that focus. It's an opportunity, Roberts pointed out to Guardian Business that The Bahamas is currently missing out on.
"I think the revenue that this sector of the business can bring is unlimited. The opportunity is there, we just have to go after it," he revealed.
"I think an area where we could be much more proactive is in the hospitality side of the business. There is no local commercial real estate company that is focused on hospitality, that's servicing all those businesses that cater to tourists - hotels being the main ones."
"It could be marinas or attraction parks. It's certainly an area that we are concentrating on and we have actually formed a hospitality group within our region. Because it's such a new offering for us, we don't necessarily have all of the expertise locally in that area, but we do have it through our affiliation with NAI."
His comments to Guardian Business come as NAI Bahamas Realty, Bahamas Realty's commercial division, wrapped its NAI Regional Conference last week with top realtors, representing nine countries.
read more »
May 13, 2013
The government is looking to establish a National Training Agency and debate the necessary legislation before Parliament in the coming weeks.
Shane Gibson, minister of labour and national insurance, confirmed to Guardian Business on Friday that the agency will provide workers with the skills needed to secure and maintain jobs.
According to him a recent report indicated that 60 percent of Bahamian workers were terminated from their jobs because of their attitudes. With the national training agency, it's a trend that Gibson is hoping to reverse.
Currently, Labour officials are meeting with various employers and the Bahamas Chamber of Commerce and Employer's Confederation (BCCEC) to determine the areas where there are skill shortages.
"We are finding there is a difficulty with retaining employees. In fact, in a recent report, 60 percent of persons who were terminated from a job were terminated as a result of attitude problems. We're looking to see how we can reverse that trend. The National Training Agency will act as the referral assessment agency where they will come in, assess them and refer them to different areas," he said.
"We are framing the National Training Agency so that we are able to provide as many of the skilled workers necessary to take advantage of the opportunities that [are] either on stream or coming on stream."
The National Training Agency will also act as a job placement agency.
"We tabled the bill in Parliament. Before the budget debate, we're hoping to get down to debating that bill. Once we are done debating that bill, we are looking at bringing the first couple hundred individuals through the training agency between the middle of June or July. It's something we are very excited about," according to Gibson.
In the 2012 Labour Force Survey, which was conducted in May and referenced the last few days of April, the unemployment rate among young people ages 15 to 24 stood at 29.4 percent, a decline of 4.6 percent over the six months since the previous survey was taken.
The survey also showed that unemployment dropped from 15.9 percent to 14.7 throughout the country.
Last year, Prime Minister Perry Christie announced that in the near future the government will launch a national training agency aimed at creating a certified workforce to help replace jobs lost.
The Department of Labour is in the process of reviewing how it issues labor certificates, even before a work permit is applied for, so that applicants won't be able to abuse the system.
read more »
Shane Gibson, minister of labour and national insurance, confirmed to Guardian Business on Friday that the agency will provide workers with the skills needed to secure and maintain jobs.
According to him a recent report indicated that 60 percent of Bahamian workers were terminated from their jobs because of their attitudes. With the national training agency, it's a trend that Gibson is hoping to reverse.
Currently, Labour officials are meeting with various employers and the Bahamas Chamber of Commerce and Employer's Confederation (BCCEC) to determine the areas where there are skill shortages.
"We are finding there is a difficulty with retaining employees. In fact, in a recent report, 60 percent of persons who were terminated from a job were terminated as a result of attitude problems. We're looking to see how we can reverse that trend. The National Training Agency will act as the referral assessment agency where they will come in, assess them and refer them to different areas," he said.
"We are framing the National Training Agency so that we are able to provide as many of the skilled workers necessary to take advantage of the opportunities that [are] either on stream or coming on stream."
The National Training Agency will also act as a job placement agency.
"We tabled the bill in Parliament. Before the budget debate, we're hoping to get down to debating that bill. Once we are done debating that bill, we are looking at bringing the first couple hundred individuals through the training agency between the middle of June or July. It's something we are very excited about," according to Gibson.
In the 2012 Labour Force Survey, which was conducted in May and referenced the last few days of April, the unemployment rate among young people ages 15 to 24 stood at 29.4 percent, a decline of 4.6 percent over the six months since the previous survey was taken.
The survey also showed that unemployment dropped from 15.9 percent to 14.7 throughout the country.
Last year, Prime Minister Perry Christie announced that in the near future the government will launch a national training agency aimed at creating a certified workforce to help replace jobs lost.
The Department of Labour is in the process of reviewing how it issues labor certificates, even before a work permit is applied for, so that applicants won't be able to abuse the system.
read more »
May 13, 2013
The Bahamas Real Estate Association is throwing its support behind Royal Bank of Canada's (RBC) recently-launched mortgage campaign, designed to make home ownership a reality for potential buyers.
BREA President Franon Wilson is saluting RBC FINCO's "We will meet you almost anywhere" campaign.
He believes the campaign will put BREA members in a "much better position to make homeownership a reality for the public" for several reasons including discounted rates, interviews conducted outside of the bank and the pre-approval process.
"Under this program, there is a discounted rate. This will allow people to either qualify for more money or have a lower mortgage payment. For many people, getting to the bank for an interview and back to work in an hour is a challenge. FINCO will send the loan officers to the people. This is addressing a hurdle for many people," he explained.
"Pre-approval is arguably the most important part of the campaign. The public will be able to confirm what they can qualify for before they start to look for their lot or house. BREA members will be in a much better position to address the needs and more importantly manage expectations of potential lot and home owners."
He continued, "BREA looks forward to its members working with FINCO to reach their campaign goals. BREA encourages the public to move now and take advantage of this special offer."
The "We will meet you almost anywhere" campaign is expected to highlight the flexibility of the bank's mortgage specialists and feature two mortgage products, the conventional residential mortgage and the residential lot (land) loan.
The conventional residential mortgage is used for the purchase or construction of a home that will be occupied by the owner and the residential lot (land) loan is structured for residential land purchase with the purpose of constructing an owner-occupied home eventually.
Deborah Zonicle, RBC's marketing manager, pointed out that the campaign aims to communicate to prospective home owners that they can find convenience and top-notch expertise at RBC.
"RBC realizes that the acquisition of a home is usually the biggest investment a person makes in their lifetime. It is an exciting time, but we also realize it can be a very stressful time. Through providing sound advice, support and convenience, RBC wants to reduce the anxiety that so often goes into such a significant undertaking of property ownership," she explained.
During the campaign, sales teams at RBC FINCO and RBC Royal Bank branches will offer the flexibility to meet prospective home owners anywhere they request and at any time that is most convenient for them.
The campaign has been launched throughout The Bahamas and in the Turks and Caicos Islands.
Highlights of the campaign include attractive mortgage rates, reduced legal fees and pre-approved credit cards and consumer loans. All clients who are interested in obtaining a mortgage or land loan will receive a "pre-qualification" certificate.
This allows persons to go house or property hunting with ease and with a full understanding of what loan amount they can qualify for.
Customers whose mortgage applications are approved during the three-month campaign period will also be automatically entered to win prizes including appliances, furniture or free mortgage payments.
The campaign will run until August 31.
read more »
BREA President Franon Wilson is saluting RBC FINCO's "We will meet you almost anywhere" campaign.
He believes the campaign will put BREA members in a "much better position to make homeownership a reality for the public" for several reasons including discounted rates, interviews conducted outside of the bank and the pre-approval process.
"Under this program, there is a discounted rate. This will allow people to either qualify for more money or have a lower mortgage payment. For many people, getting to the bank for an interview and back to work in an hour is a challenge. FINCO will send the loan officers to the people. This is addressing a hurdle for many people," he explained.
"Pre-approval is arguably the most important part of the campaign. The public will be able to confirm what they can qualify for before they start to look for their lot or house. BREA members will be in a much better position to address the needs and more importantly manage expectations of potential lot and home owners."
He continued, "BREA looks forward to its members working with FINCO to reach their campaign goals. BREA encourages the public to move now and take advantage of this special offer."
The "We will meet you almost anywhere" campaign is expected to highlight the flexibility of the bank's mortgage specialists and feature two mortgage products, the conventional residential mortgage and the residential lot (land) loan.
The conventional residential mortgage is used for the purchase or construction of a home that will be occupied by the owner and the residential lot (land) loan is structured for residential land purchase with the purpose of constructing an owner-occupied home eventually.
Deborah Zonicle, RBC's marketing manager, pointed out that the campaign aims to communicate to prospective home owners that they can find convenience and top-notch expertise at RBC.
"RBC realizes that the acquisition of a home is usually the biggest investment a person makes in their lifetime. It is an exciting time, but we also realize it can be a very stressful time. Through providing sound advice, support and convenience, RBC wants to reduce the anxiety that so often goes into such a significant undertaking of property ownership," she explained.
During the campaign, sales teams at RBC FINCO and RBC Royal Bank branches will offer the flexibility to meet prospective home owners anywhere they request and at any time that is most convenient for them.
The campaign has been launched throughout The Bahamas and in the Turks and Caicos Islands.
Highlights of the campaign include attractive mortgage rates, reduced legal fees and pre-approved credit cards and consumer loans. All clients who are interested in obtaining a mortgage or land loan will receive a "pre-qualification" certificate.
This allows persons to go house or property hunting with ease and with a full understanding of what loan amount they can qualify for.
Customers whose mortgage applications are approved during the three-month campaign period will also be automatically entered to win prizes including appliances, furniture or free mortgage payments.
The campaign will run until August 31.
read more »
May 13, 2013
Top realtors from nine countries including The Bahamas attended a regional conference in Nassau last week.
NAI Bahamas Realty Commercial, the commercial division of Bahamas Realty, hosted the NAI Global Regional Conference, designed to gather members together from the region to discuss potential business opportunities in each country.
"For example, we have a couple of exciting opportunities here at the moment for which we are reaching out to our NAI family for help in finding developers," according to Larry Roberts, CEO of both NAI Bahamas Realty and Bahamas Realty. "For example, we have the Union Wharf property listed for sale. We need a developer for that. Where is that developer going to come from? So I reach out to my members and I say can you help me? Let's find the developer who has the professional expertise, the capital to make things like that happen. That's just one example. We came from a meeting where we were looking at a project in Panama with similar needs. We're very excited to have our regional members come and see us."
Delegates hailed from the Dominican Republic, Jamaica, Panama, the United States, Mexico, Peru, Brazil, Argentina and The Bahamas.
Roberts told reporters at the conference's closing luncheon at the Luciano's of Chicago restaurant on Friday that he was honored to host the conference, marking the first time it has ever been held in The Bahamas.
"All of those countries comprise our region. We work together to encourage and develop business in our respective countries," he shared. "So the purpose of this meeting is for all of us to get together and see how we can better serve our customers and encourage more business for our region. It also gives us a chance to share opportunities."
NAI Global has 33 offices in 13 countries in Latin America and the Caribbean, offering from traditional brokerage, NAI appraisals, portfolio management, audit and investment services and hospitality consulting.
It's one of the world's leading providers of commercial real estate services with a network of over 5,000 professionals.
"We feel that we are in a much better position than our competitors because we have the global reach. By being a part of this global company, we are able to tap into the resources that the company and the membership has," according to Roberts.
Bahamas Realty Commercial joined NAI Global two years ago as its exclusive member for The Bahamas.
read more »
NAI Bahamas Realty Commercial, the commercial division of Bahamas Realty, hosted the NAI Global Regional Conference, designed to gather members together from the region to discuss potential business opportunities in each country.
"For example, we have a couple of exciting opportunities here at the moment for which we are reaching out to our NAI family for help in finding developers," according to Larry Roberts, CEO of both NAI Bahamas Realty and Bahamas Realty. "For example, we have the Union Wharf property listed for sale. We need a developer for that. Where is that developer going to come from? So I reach out to my members and I say can you help me? Let's find the developer who has the professional expertise, the capital to make things like that happen. That's just one example. We came from a meeting where we were looking at a project in Panama with similar needs. We're very excited to have our regional members come and see us."
Delegates hailed from the Dominican Republic, Jamaica, Panama, the United States, Mexico, Peru, Brazil, Argentina and The Bahamas.
Roberts told reporters at the conference's closing luncheon at the Luciano's of Chicago restaurant on Friday that he was honored to host the conference, marking the first time it has ever been held in The Bahamas.
"All of those countries comprise our region. We work together to encourage and develop business in our respective countries," he shared. "So the purpose of this meeting is for all of us to get together and see how we can better serve our customers and encourage more business for our region. It also gives us a chance to share opportunities."
NAI Global has 33 offices in 13 countries in Latin America and the Caribbean, offering from traditional brokerage, NAI appraisals, portfolio management, audit and investment services and hospitality consulting.
It's one of the world's leading providers of commercial real estate services with a network of over 5,000 professionals.
"We feel that we are in a much better position than our competitors because we have the global reach. By being a part of this global company, we are able to tap into the resources that the company and the membership has," according to Roberts.
Bahamas Realty Commercial joined NAI Global two years ago as its exclusive member for The Bahamas.
read more »
May 13, 2013
Fidelity Bank (Bahamas) Limited is reporting strong results for the first quarter of 2013, with comprehensive income increasing by 48 percent to $2 million in comparison to $1.4 million in 2012. The bank's return on average equity attributable to ordinary shareholders improved to 18.7 percent and its return on average assets increased to 2.0 percent.
Fidelity's efficiency ratio, which measures the percentage of revenue consumed by operating expenses, improved to 52 percent from 67 percent in Q1 2012. Its share price increased to $2.75, or by 31 percent, during the quarter reflecting the improving fundamentals of the bank.
Anwer Sunderji, Fidelity's chief executive officer said, "Total assets grew to $411 million from $387 million at year-end 2012 and loan assets increased to $284 million. Liquidity remained robust with the loan to deposit ratio at a comfortable 86 percent." He added, "The bank made additional loan loss provisions during the quarter of nearly $1.2 million and the pace of provisioning is likely to continue for the balance of the year."
Sunderji continued, "Save for the deteriorating asset quality, we are pleased with the bank's results for the quarter."
Fidelity is a 75 percent held subsidiary of Fidelity Bank & Trust International Limited with the balance owned by the Bahamian public. It is a bank holding company incorporated in The Bahamas with licensed retail banking subsidiaries in The Bahamas and the Cayman Islands. It operates primarily in the personal banking segment and has consolidated assets of over $600 million.
read more »
Fidelity's efficiency ratio, which measures the percentage of revenue consumed by operating expenses, improved to 52 percent from 67 percent in Q1 2012. Its share price increased to $2.75, or by 31 percent, during the quarter reflecting the improving fundamentals of the bank.
Anwer Sunderji, Fidelity's chief executive officer said, "Total assets grew to $411 million from $387 million at year-end 2012 and loan assets increased to $284 million. Liquidity remained robust with the loan to deposit ratio at a comfortable 86 percent." He added, "The bank made additional loan loss provisions during the quarter of nearly $1.2 million and the pace of provisioning is likely to continue for the balance of the year."
Sunderji continued, "Save for the deteriorating asset quality, we are pleased with the bank's results for the quarter."
Fidelity is a 75 percent held subsidiary of Fidelity Bank & Trust International Limited with the balance owned by the Bahamian public. It is a bank holding company incorporated in The Bahamas with licensed retail banking subsidiaries in The Bahamas and the Cayman Islands. It operates primarily in the personal banking segment and has consolidated assets of over $600 million.
read more »
May 13, 2013
When Mario Carey opened the doors of a new real estate firm on the outskirts of downtown Nassau in 2008, the global economy was reeling from a burst in the housing bubble. He sat alone with one secretary, a history as the industry's super salesman and a dream, that he would sell luxury properties despite the market by offering extraordinary personal service, and he would find enough time to dedicate himself to autism awareness.
It was the first chapter in a book that turned out very differently. Today MCR, Mario Carey Realty, is perhaps the fastest growing real estate firm in The Bahamas and Carey, whose son has autism, serves as the very active president of the autism support group, REACH, while taking a new approach to real estate management. It is paying off.
This week, he announced the appointment of nine licensed professionals, each of whom joined in recent months and all of whom share a common title new to the industry, independent contractors.
Together, they bring the total MCR staff complement to 22, including three in the appraisal department. New agents include Raymond Antonio, Marcus Bain, Lisa Carroll, Mark Carter, Katherine Jarman-Knowles, Osano Neely, J. Brooke Phillips, Andrew Seymour and Tristan White.
"We are very excited about the energy and enthusiasm that each of these agents brings to the profession," said Carey, CIPS, CRS, CLHMS. "We are also pleased that because of the change in the BREA (Bahamas Real Estate Association) code, we are able to draw on talent that has other interests."
Raymond Antonio, Carey noted, comes from a background in financial services, having specialized in property lending at two of the country's largest banks, now combining that experience with property appraisals. Marcus Bain serves in a triple role - in-house photographer, personal assistant to Carey and one of the newest licensed agents. Lisa Carroll, active in her children's school and devoted mother, believes her early business experience followed by family helps her understand buyers' needs. She also works as the firm's office administrator.
"Mark Carter, for instance, has years of experience in marketing and media coming from a media empire, Carter Marketing, and his experience will add to our marketing team's efforts," says Carey. "Brooke, who comes from a business management background, is certified in residential staging and with her partner, Ashley Brown, also an agent with MCR, has a new and exciting staging business, Upstage Bahamas, which may bring clients to MCR. Osana Neely is ambitious. At 18, he wants to be known as the youngest real estate agent in The Bahamas, believing that others who are young and perhaps looking at buying their first property will identify with him. And Andrew, who is studying accounting at [The College of The Bahamas], also works at the nightclub Aura at Atlantis. We also have Tristan White, who is a real estate agent but is working as a social media specialist in our marketing department. Kathy Knowles, who co-heads the property management division, has been in development for 15 years and holds Certified International Project Management certification. For the past year, she served as project manager-administration for the new extension of the [Princess Margaret] Hospital for the last year."
All the new agents, said Carey, have a common thread.
"They all understand the importance of social media and they all recognize that you can be working at real estate 24 hours, 7 days a week. We have moved past Monday-Friday with banking hours in a profession that is conducted in the first search largely online. It is a new day and I am thrilled that our MCR agents understand the importance of the Internet and personal attention. We want to ensure that every agent, whatever market they are focusing on, understands that it is all about personal service and living up to our slogan, 'We Sell Luxury.'"
Carey's approach is also earning accolades from the international real estate community. MCR was recently awarded the highest status by www.LuxuryRealEstate.com, becoming the youngest and one of only a few firms in The Bahamas to qualify for the prestigious Who's Who certification benefitting those who list properties with them. Carey has called that award the 'Oscars of the real estate industry'."
MCR is a boutique company that handles sales, leasing, appraisals, property management, relocation and vacation rentals, and Carey specializes in luxury properties in Ocean Club Estates and Baha Mar, the New Bahamian Riviera.
read more »
It was the first chapter in a book that turned out very differently. Today MCR, Mario Carey Realty, is perhaps the fastest growing real estate firm in The Bahamas and Carey, whose son has autism, serves as the very active president of the autism support group, REACH, while taking a new approach to real estate management. It is paying off.
This week, he announced the appointment of nine licensed professionals, each of whom joined in recent months and all of whom share a common title new to the industry, independent contractors.
Together, they bring the total MCR staff complement to 22, including three in the appraisal department. New agents include Raymond Antonio, Marcus Bain, Lisa Carroll, Mark Carter, Katherine Jarman-Knowles, Osano Neely, J. Brooke Phillips, Andrew Seymour and Tristan White.
"We are very excited about the energy and enthusiasm that each of these agents brings to the profession," said Carey, CIPS, CRS, CLHMS. "We are also pleased that because of the change in the BREA (Bahamas Real Estate Association) code, we are able to draw on talent that has other interests."
Raymond Antonio, Carey noted, comes from a background in financial services, having specialized in property lending at two of the country's largest banks, now combining that experience with property appraisals. Marcus Bain serves in a triple role - in-house photographer, personal assistant to Carey and one of the newest licensed agents. Lisa Carroll, active in her children's school and devoted mother, believes her early business experience followed by family helps her understand buyers' needs. She also works as the firm's office administrator.
"Mark Carter, for instance, has years of experience in marketing and media coming from a media empire, Carter Marketing, and his experience will add to our marketing team's efforts," says Carey. "Brooke, who comes from a business management background, is certified in residential staging and with her partner, Ashley Brown, also an agent with MCR, has a new and exciting staging business, Upstage Bahamas, which may bring clients to MCR. Osana Neely is ambitious. At 18, he wants to be known as the youngest real estate agent in The Bahamas, believing that others who are young and perhaps looking at buying their first property will identify with him. And Andrew, who is studying accounting at [The College of The Bahamas], also works at the nightclub Aura at Atlantis. We also have Tristan White, who is a real estate agent but is working as a social media specialist in our marketing department. Kathy Knowles, who co-heads the property management division, has been in development for 15 years and holds Certified International Project Management certification. For the past year, she served as project manager-administration for the new extension of the [Princess Margaret] Hospital for the last year."
All the new agents, said Carey, have a common thread.
"They all understand the importance of social media and they all recognize that you can be working at real estate 24 hours, 7 days a week. We have moved past Monday-Friday with banking hours in a profession that is conducted in the first search largely online. It is a new day and I am thrilled that our MCR agents understand the importance of the Internet and personal attention. We want to ensure that every agent, whatever market they are focusing on, understands that it is all about personal service and living up to our slogan, 'We Sell Luxury.'"
Carey's approach is also earning accolades from the international real estate community. MCR was recently awarded the highest status by www.LuxuryRealEstate.com, becoming the youngest and one of only a few firms in The Bahamas to qualify for the prestigious Who's Who certification benefitting those who list properties with them. Carey has called that award the 'Oscars of the real estate industry'."
MCR is a boutique company that handles sales, leasing, appraisals, property management, relocation and vacation rentals, and Carey specializes in luxury properties in Ocean Club Estates and Baha Mar, the New Bahamian Riviera.
read more »
May 13, 2013
The Bahamas International Securities Exchange (BISX) spent the morning of Friday, April 26 at the Doris Johnson Senior High School, speaking to a grade 11 economics class. This followed an engagement on Friday, April 12 at Queen's College, speaking with grade 12 economics and commerce students about stocks, investing and the local stock exchange. Both visits allowed senior exchange officials the opportunity to interact with young Bahamians in a small discussion setting that also allowed students the opportunity to ask questions directly to exchange officials.
BISX Chief Executive Keith Davies commented on the visit. "Young people are our future investors, and they bring such a unique perspective to discussions, so we not only talk about investing and stocks, but we also branch out to talk about education, especially their next step in their life, into college or another path. More than a few years have passed since I was a high school student, and it is easy to forget the concerns of young people at that stage in their educational, professional and financial life. Giving them advice on saving, investing and education is great from a social point of view. However, it is also smart business, because this generation is the first generation that will grow up having always been familiar with a stock exchange. BISX is only 13 years old, and these young people will mature along with our nation's stock exchange."
Davies went on to add. "I would like to say a special thank you to Mrs. Shandica Sweeting at Doris Johnson and Mrs. Monique Carnegie-Scavella at Queen's College for inviting us to speak to their classes. What I appreciate the most about this was that this was our second time speaking to one of Mrs. Sweeting's classes and the third time speaking to one of Mrs. Scavella's classes. They have decided that discussing saving and investing should be a part of their students curriculum, and we are only too happy to assist. This is a great commitment on behalf of these teachers. I would also like to thank the students for being so eager and willing to participate."
He continued, "Over the past five years, we have had the opportunity to speak to a number of schools in Nassau about the exchange. In the next academic year, we plan to also speak to schools in Grand Bahama, and utilizing modern technology, we hope to be able to speak to other schools throughout The Bahamas over alternative communication technologies such as Skype."
Davies went on to explain that BISX welcomed any opportunity to speak to students who were preparing for the BGCSE exams, as well as those students who were moving towards graduation and on into the work force. Completing his remarks Davies stated, "An educated investor base is essential to a proper capital market. The time and energy we put into educating students like those at Doris Johnson Senior High School and Queen's College will create a whole new group of informed future investors who will seek to take advantage of the opportunities that exist in the Bahamian capital markets."
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BISX Chief Executive Keith Davies commented on the visit. "Young people are our future investors, and they bring such a unique perspective to discussions, so we not only talk about investing and stocks, but we also branch out to talk about education, especially their next step in their life, into college or another path. More than a few years have passed since I was a high school student, and it is easy to forget the concerns of young people at that stage in their educational, professional and financial life. Giving them advice on saving, investing and education is great from a social point of view. However, it is also smart business, because this generation is the first generation that will grow up having always been familiar with a stock exchange. BISX is only 13 years old, and these young people will mature along with our nation's stock exchange."
Davies went on to add. "I would like to say a special thank you to Mrs. Shandica Sweeting at Doris Johnson and Mrs. Monique Carnegie-Scavella at Queen's College for inviting us to speak to their classes. What I appreciate the most about this was that this was our second time speaking to one of Mrs. Sweeting's classes and the third time speaking to one of Mrs. Scavella's classes. They have decided that discussing saving and investing should be a part of their students curriculum, and we are only too happy to assist. This is a great commitment on behalf of these teachers. I would also like to thank the students for being so eager and willing to participate."
He continued, "Over the past five years, we have had the opportunity to speak to a number of schools in Nassau about the exchange. In the next academic year, we plan to also speak to schools in Grand Bahama, and utilizing modern technology, we hope to be able to speak to other schools throughout The Bahamas over alternative communication technologies such as Skype."
Davies went on to explain that BISX welcomed any opportunity to speak to students who were preparing for the BGCSE exams, as well as those students who were moving towards graduation and on into the work force. Completing his remarks Davies stated, "An educated investor base is essential to a proper capital market. The time and energy we put into educating students like those at Doris Johnson Senior High School and Queen's College will create a whole new group of informed future investors who will seek to take advantage of the opportunities that exist in the Bahamian capital markets."
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May 13, 2013
Blue Caviar is Bahamaslocal.com Business of the week!Blue Caviar Le Restaurant is a contemporary French restaurant located outside the gates of Lyford Cay and Old Fort Bay and specializes in classic French cuisine.
The Food is a blend of fresh ingredients, relentlessly tasted and adjusted to achieve the perfect balance of taste and flavour. The aim is to provide a complete experience from the first taste to the last morsel.
Check out the opening of Le Patio is now officially open, our opening hours are: Tuesday to Thursday: 4pm to 10pm (Last Drink and Food Order)Friday to Saturday: 4pm to Midnight (Last Drink and Food Order) Sunday: 11am to 5pm (Starting Date to be confirmed)
Happy Hours Daily from 4pm to 6pm.
We will be serving a range of Tapas, Children's Menu and Entrée Dishes. We will also have some Gourmet Pizza from next week. We are of course still offering our Classic Restaurant Menu but you will be able to enjoy both Menu either at The Patio or In Le Restaurant.
We have also combine a great Cocktails List and Extended our Wines by the Glass. I look forward to welcome you all, and our events Calendar will be sent soon for the rest of the month.
Every week Bahamaslocal.com promotes a business that services and professionalism embodies what a company should be.
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May 10, 2013
The country will rake in more than $13 million and gain 20,000 hotel room nights in the 2012/2013 fiscal year from sports tourism, with two international soccer events set for this month expected to boost the nation's profile worldwide, Guardian Business was told.
"Those are some pretty significant numbers that we're talking about there," Tyrone Sawyer, director of sports tourism development in the Ministry of Tourism, said yesterday.
He said the country's tourism brand is reaping rewards from a FIFA (International Federation of Association Football) Beach Soccer World Cup qualifier tournament, which runs until May 12. Later this month, the country will host an English Premier League soccer exhibition at the national stadium between Tottenham Hotspur Football Club, a team from the UK, and the Jamaican national team.
Both events will expose the country to the world and hopefully attract additional events of the same caliber, he noted.
Sawyer said the beach soccer tournament, being held at the Malcolm Park Beach Soccer and Futsal Facility, is generating a bigger buzz than expected.
"The amount of attention it's getting from the football fraternity is way beyond what events of this nature would normally attract.
"It's the first time the entire region, the Caribbean region, would have hosted a beach soccer World Cup qualifier and that is due to the vision of the Bahamas Football Association, working along with FIFA and also with the full support of our government in building that soccer facility at the Malcolm Park site."
The Atlantis resort on Paradise Island is the host hotel for the teams.
Atlantis President and Managing Director George Markantonis said while the event has not significantly boosted room occupancy, it "falls completely in line" with the theory of sports tourism.
"I think it's excellent for the image of The Bahamas to be staging it," Markantonis said. "I congratulate all of the parties, in particular the Ministry of Tourism and the Ministry of Sports, for managing to get it for Nassau."
Sawyer said he hopes the country will host similar events in the future.
"We expect that this will be a first step in the direction where we are able to get many more beach soccer events staged in The Bahamas."
The tournament is free of charge to spectators, he said.
"It's more like a branding effort where people get to appreciate that we are a good place to come and at the level they are staging it they're doing a great job in staging. The visiting countries are very impressed."
Sawyer said 35 international reporters flew to Nassau for the games which are being broadcast on Fox's sports network to several countries including Europe, North America and South America.
Later this month the national stadium will host a soccer match that Sawyer said will be the mother lode of soccer events.
"It's like the Miami Heat or Los Angelos Lakers coming [to play] if it were basketball," he said.
"This is a tremendous first time opportunity for our country to have this level of soccer played. It's really one of the best possible events you can have for our new stadium."
He said local hotels have gotten some advance bookings for the match but sports officials plan to put heavy focus on drumming up local interest in the event.
read more »
"Those are some pretty significant numbers that we're talking about there," Tyrone Sawyer, director of sports tourism development in the Ministry of Tourism, said yesterday.
He said the country's tourism brand is reaping rewards from a FIFA (International Federation of Association Football) Beach Soccer World Cup qualifier tournament, which runs until May 12. Later this month, the country will host an English Premier League soccer exhibition at the national stadium between Tottenham Hotspur Football Club, a team from the UK, and the Jamaican national team.
Both events will expose the country to the world and hopefully attract additional events of the same caliber, he noted.
Sawyer said the beach soccer tournament, being held at the Malcolm Park Beach Soccer and Futsal Facility, is generating a bigger buzz than expected.
"The amount of attention it's getting from the football fraternity is way beyond what events of this nature would normally attract.
"It's the first time the entire region, the Caribbean region, would have hosted a beach soccer World Cup qualifier and that is due to the vision of the Bahamas Football Association, working along with FIFA and also with the full support of our government in building that soccer facility at the Malcolm Park site."
The Atlantis resort on Paradise Island is the host hotel for the teams.
Atlantis President and Managing Director George Markantonis said while the event has not significantly boosted room occupancy, it "falls completely in line" with the theory of sports tourism.
"I think it's excellent for the image of The Bahamas to be staging it," Markantonis said. "I congratulate all of the parties, in particular the Ministry of Tourism and the Ministry of Sports, for managing to get it for Nassau."
Sawyer said he hopes the country will host similar events in the future.
"We expect that this will be a first step in the direction where we are able to get many more beach soccer events staged in The Bahamas."
The tournament is free of charge to spectators, he said.
"It's more like a branding effort where people get to appreciate that we are a good place to come and at the level they are staging it they're doing a great job in staging. The visiting countries are very impressed."
Sawyer said 35 international reporters flew to Nassau for the games which are being broadcast on Fox's sports network to several countries including Europe, North America and South America.
Later this month the national stadium will host a soccer match that Sawyer said will be the mother lode of soccer events.
"It's like the Miami Heat or Los Angelos Lakers coming [to play] if it were basketball," he said.
"This is a tremendous first time opportunity for our country to have this level of soccer played. It's really one of the best possible events you can have for our new stadium."
He said local hotels have gotten some advance bookings for the match but sports officials plan to put heavy focus on drumming up local interest in the event.
read more »
May 10, 2013
The Ministry of Financial Services is looking to explore business opportunities in the areas of trade and agriculture between the Bahamas and Mexico.
Financial Services Minister Ryan Pinder confirmed to Guardian Business from St. Kitts that currently producers in Freeport that are either looking to begin trading or expand their trading capabilities with Mexico. It's just one of the issues that will be discussed at the Bahamas Financial Services Board's (BFSB) upcoming LATAM Landfall event in Mexico and Brazil.
Next week's trip to Mexico marks a first for The Bahamas, which Pinder said will be used to identify investment possibilities between the two countries. A number of exploratory meetings have been planned for key private stakeholders representing both countries.
"We have some producers in Freeport now who trade with Mexico or want to further their trade with Mexico. We want to see if there are opportunities especially in agriculture and maybe some other areas. We also have certain manufacturers in Freeport that are looking to trade with Mexico and we have been informed of certain opportunities that we might be able to further develop and explore.
"We're pulling our trade data now for both Mexico and The Bahamas to see where the opportunities lie. We have had very good cooperation with the private sector companies that have relationships or do business in Mexico."
With Mexico having a growing economy, Pinder also sees it as a new market for the country's financial services sector to tap into.
"The wealthy individuals in countries like Mexico are looking to diversify their investments internationally. We would look to attract some of that international investment through The Bahamas whether it is using our banks or our financial products to help structure and plan their private wealth management," he revealed to Guardian Business.
"We're looking especially in Mexico to develop a new market for us in financial services. We believe Mexico is a growing economy. It indicates that there are a lot of opportunities for us to do business with Mexico."
The financial services minister also expressed optimism on investment prospects between The Bahamas and Brazil.
"We are looking for them to set up certain physical operations in The Bahamas. We see that coming out of Brazil. We see fund administrators and investment managers looking to put branch officers in The Bahamas because they have become very comfortable with The Bahamas," Pinder shared.
Following The Bahamas' participation in the Brasil Investment Summit (BIS) in Sao Palo last month, Pinder said interest was sparked in the country's funds industry.
Next week's LATAM Landfall event will include visits to Rio de Janeiro and Sao Paulo in Brazil as well as Mexico.
read more »
Financial Services Minister Ryan Pinder confirmed to Guardian Business from St. Kitts that currently producers in Freeport that are either looking to begin trading or expand their trading capabilities with Mexico. It's just one of the issues that will be discussed at the Bahamas Financial Services Board's (BFSB) upcoming LATAM Landfall event in Mexico and Brazil.
Next week's trip to Mexico marks a first for The Bahamas, which Pinder said will be used to identify investment possibilities between the two countries. A number of exploratory meetings have been planned for key private stakeholders representing both countries.
"We have some producers in Freeport now who trade with Mexico or want to further their trade with Mexico. We want to see if there are opportunities especially in agriculture and maybe some other areas. We also have certain manufacturers in Freeport that are looking to trade with Mexico and we have been informed of certain opportunities that we might be able to further develop and explore.
"We're pulling our trade data now for both Mexico and The Bahamas to see where the opportunities lie. We have had very good cooperation with the private sector companies that have relationships or do business in Mexico."
With Mexico having a growing economy, Pinder also sees it as a new market for the country's financial services sector to tap into.
"The wealthy individuals in countries like Mexico are looking to diversify their investments internationally. We would look to attract some of that international investment through The Bahamas whether it is using our banks or our financial products to help structure and plan their private wealth management," he revealed to Guardian Business.
"We're looking especially in Mexico to develop a new market for us in financial services. We believe Mexico is a growing economy. It indicates that there are a lot of opportunities for us to do business with Mexico."
The financial services minister also expressed optimism on investment prospects between The Bahamas and Brazil.
"We are looking for them to set up certain physical operations in The Bahamas. We see that coming out of Brazil. We see fund administrators and investment managers looking to put branch officers in The Bahamas because they have become very comfortable with The Bahamas," Pinder shared.
Following The Bahamas' participation in the Brasil Investment Summit (BIS) in Sao Palo last month, Pinder said interest was sparked in the country's funds industry.
Next week's LATAM Landfall event will include visits to Rio de Janeiro and Sao Paulo in Brazil as well as Mexico.
read more »
May 10, 2013
Royal Bank of Canada (RBC) launched a unique mortgage campaign this week designed to make home ownership a reality for potential buyers.
The "We will meet you almost anywhere" campaign is expected to highlight the flexibility of the bank's mortgage specialists and feature two mortgage products, the conventional residential mortgage and the residential lot (land) loan.
The conventional residential mortgage is used for the purchase or construction of a home that will be occupied by the owner and the residential lot (land) loan is structured for residential land purchase with the purpose of constructing an owner-occupied home eventually.
Deborah Zonicle, RBC's marketing manager, pointed out that the campaign aims to communicate to prospective home owners that they can find convenience and top notch expertise at RBC.
"RBC realizes that the acquisition of a home is usually the biggest investment a person makes in their lifetime. It is an exciting time, but we also realize it can be a very stressful time. Through providing sound advice, support and convenience, RBC wants to reduce the anxiety that so often goes into such a significant undertaking of property ownership," she explained.
During the campaign, sales teams at RBC FINCO and RBC Royal Bank branches will offer the flexibility to meet prospective home owners anywhere they request and at any time that is most convenient for them.
The campaign was launched throughout The Bahamas and in The Turks & Caicos Islands.
Highlights of the campaign include attractive mortgage rates, reduced legal fees and pre-approved credit cards and consumer loans. All clients who are interested in obtaining a mortgage or land loan will receive a "pre-qualification" certificate.
This allows persons to go house or property hunting with ease and a full understanding of what loan amount they can qualify for.
Customers whose mortgage applications are approved during the three-month campaign period will also be automatically entered to win prizes including appliances, furniture or free mortgage payments.
The campaign, which started on Monday, will run until August 31.
RBC's campaign spells good news for potential buyers, as many consider a 'lease-to-own' real estate option as banking institutions are becoming increasingly strict on their lending policies.
read more »
The "We will meet you almost anywhere" campaign is expected to highlight the flexibility of the bank's mortgage specialists and feature two mortgage products, the conventional residential mortgage and the residential lot (land) loan.
The conventional residential mortgage is used for the purchase or construction of a home that will be occupied by the owner and the residential lot (land) loan is structured for residential land purchase with the purpose of constructing an owner-occupied home eventually.
Deborah Zonicle, RBC's marketing manager, pointed out that the campaign aims to communicate to prospective home owners that they can find convenience and top notch expertise at RBC.
"RBC realizes that the acquisition of a home is usually the biggest investment a person makes in their lifetime. It is an exciting time, but we also realize it can be a very stressful time. Through providing sound advice, support and convenience, RBC wants to reduce the anxiety that so often goes into such a significant undertaking of property ownership," she explained.
During the campaign, sales teams at RBC FINCO and RBC Royal Bank branches will offer the flexibility to meet prospective home owners anywhere they request and at any time that is most convenient for them.
The campaign was launched throughout The Bahamas and in The Turks & Caicos Islands.
Highlights of the campaign include attractive mortgage rates, reduced legal fees and pre-approved credit cards and consumer loans. All clients who are interested in obtaining a mortgage or land loan will receive a "pre-qualification" certificate.
This allows persons to go house or property hunting with ease and a full understanding of what loan amount they can qualify for.
Customers whose mortgage applications are approved during the three-month campaign period will also be automatically entered to win prizes including appliances, furniture or free mortgage payments.
The campaign, which started on Monday, will run until August 31.
RBC's campaign spells good news for potential buyers, as many consider a 'lease-to-own' real estate option as banking institutions are becoming increasingly strict on their lending policies.
read more »
May 10, 2013
The sole Bahamian actuary working in The Bahamas and the youngest Bahamian Fellow of the Academy of Life Underwriting have two things in common: They both work at Colina Insurance Limited, the largest life and health insurer in the country, and they both started their higher education at The College of The Bahamas. Add to these a third mutual tie, their appearance at COB's Business Week on March 19 with three colleagues to discuss their journeys to rewarding careers at the insurance giant and what it takes to advance a career in financial services. These presentations at the college were the launch pad for Colina's on-the-road initiative "CONNECT", the company's free public education program designed to provide knowledge of insurance concepts and raise awareness about the importance of life and health insurance, financial planning and wellness.
"More than a year ago Colina launched CONNECT," said Wendy Butler, vice president of life operations at Colina. "Since hosting four successful public forums, we've now expanded our mandate to reach out to niche groups in order to advance a better understanding of insurance and financial planning. It was natural to select the nation's premier tertiary institution, and especially its business students, as our first stop."
During the informative session at COB's Business Week, themed "Forty Years of Excellence: Embracing University", former COB alumni shared their personal journeys from the halls of COB to the boardrooms at Colina. Alumna DeAndrea Lewis, the only Bahamian actuary working in The Bahamas, inspired students to achieve their full potential as future business leaders. Lewis, who is responsible for the management of the individual life block of business at Colina, presented "Insurance 101" discussing life, medical and mortgage insurance, the process of pricing insurance products, the risks involved in insurance and the interest rates for insurance premiums.
Kenray Marsh, an alumnus of the college and Colina's new business manager and senior underwriter, is only the second Bahamian Fellow of the Academy of Underwriting (FALU), which is the highest designation in the life insurance underwriting profession. Marsh outlined the role of an insurance underwriter, the types of underwriting in life, health and casualty insurance and the evaluation of risks and accuracies involved in onboarding new clients.
Other Colina presenters included top sales representatives and Million Dollar Round Table (MDRT) qualifiers Amanda Knowles and Ian Capron who each offered a candid look into the benefits of a career in insurance sales. Both Knowles and Capron began their careers in banking and accounting but soon shifted gears and began to look to the insurance industry for greater autonomy, earning potential and career satisfaction which, they acknowledge, they have found in abundance at Colina.
Rounding off the team of presenters was Cathy Williams, vice president of finance at Colina, who educated the students on the technical aspects of financial accounting in life and health insurance, and talked about her own road to the insurance industry in The Bahamas after beginning her career as a junior auditor for PriceWaterhouseCoopers in her native Canada.
The purpose of Business Week, according to Remelda Moxey, acting dean of the Faculty of Business, is to give the School of Business an opportunity to showcase its graduates and provide students with a forum of innovative and informative discussions led by a cadre of alumni and guests with real world experiences.
Emmanuel Komolafe, chief risk and compliance officer at Colina and host for the session, told the students that "one of the objectives at Colina is to educate the public but, in addition to educating, we also want to inspire."
Throughout the conversational presentations, the message was clear, and the team inspired the students to stay the course and to take advantage of the opportunities provided by the college as they carve out their own paths toward success. Following the session, students posed questions pertaining to insurance policies and were given an opportunity to win prizes and giveaways and interact with the Colina managers at a reception held in their honor.
read more »
"More than a year ago Colina launched CONNECT," said Wendy Butler, vice president of life operations at Colina. "Since hosting four successful public forums, we've now expanded our mandate to reach out to niche groups in order to advance a better understanding of insurance and financial planning. It was natural to select the nation's premier tertiary institution, and especially its business students, as our first stop."
During the informative session at COB's Business Week, themed "Forty Years of Excellence: Embracing University", former COB alumni shared their personal journeys from the halls of COB to the boardrooms at Colina. Alumna DeAndrea Lewis, the only Bahamian actuary working in The Bahamas, inspired students to achieve their full potential as future business leaders. Lewis, who is responsible for the management of the individual life block of business at Colina, presented "Insurance 101" discussing life, medical and mortgage insurance, the process of pricing insurance products, the risks involved in insurance and the interest rates for insurance premiums.
Kenray Marsh, an alumnus of the college and Colina's new business manager and senior underwriter, is only the second Bahamian Fellow of the Academy of Underwriting (FALU), which is the highest designation in the life insurance underwriting profession. Marsh outlined the role of an insurance underwriter, the types of underwriting in life, health and casualty insurance and the evaluation of risks and accuracies involved in onboarding new clients.
Other Colina presenters included top sales representatives and Million Dollar Round Table (MDRT) qualifiers Amanda Knowles and Ian Capron who each offered a candid look into the benefits of a career in insurance sales. Both Knowles and Capron began their careers in banking and accounting but soon shifted gears and began to look to the insurance industry for greater autonomy, earning potential and career satisfaction which, they acknowledge, they have found in abundance at Colina.
Rounding off the team of presenters was Cathy Williams, vice president of finance at Colina, who educated the students on the technical aspects of financial accounting in life and health insurance, and talked about her own road to the insurance industry in The Bahamas after beginning her career as a junior auditor for PriceWaterhouseCoopers in her native Canada.
The purpose of Business Week, according to Remelda Moxey, acting dean of the Faculty of Business, is to give the School of Business an opportunity to showcase its graduates and provide students with a forum of innovative and informative discussions led by a cadre of alumni and guests with real world experiences.
Emmanuel Komolafe, chief risk and compliance officer at Colina and host for the session, told the students that "one of the objectives at Colina is to educate the public but, in addition to educating, we also want to inspire."
Throughout the conversational presentations, the message was clear, and the team inspired the students to stay the course and to take advantage of the opportunities provided by the college as they carve out their own paths toward success. Following the session, students posed questions pertaining to insurance policies and were given an opportunity to win prizes and giveaways and interact with the Colina managers at a reception held in their honor.
read more »
May 10, 2013
A new training initiative at the Bahamas Technical and Vocational Institute (BTVI) should produce a minimum of 50 qualified elevator technicians and inspectors, revealed BAIC Executive Chairman Arnold Forbes during a press conference yesterday.
Forbes formally announced that the public private partnership sponsoring the program is comprised of BAIC, BTVI and Bahamas Elevator Systems (BES). Forbes said it has always been the belief of BAIC that a strong and thriving small business community can be the catalyst for a strong and vibrant economy, employing thousands and economically empowering the people of The Bahamas.
"Today, the public private partnership that BAIC is fostering is another step in the development of programs involving government and the business community," said Forbes.
According to him, six months ago BES owner and General Manager Richard Tighe met with Don Major, BAIC's deputy general manager and revealed that his firm found it challenging to find qualified, trained elevator technicians to meet the demands of projects like Baha Mar, which offer an abundance of jobs where Bahamians can and should be employed. "Therefore, recognizing this ever-widening abyss within this industry sector, Mr. Don Major of BAIC, Mr. Richard Tighe of BES and his consultant, birthed this partnership and enlisted BTVI's participation as a vital part of the collaboration," said Forbes.
The executive chairman said generations of Bahamians will benefit vocationally and economically. For Tighe, the launch of the program is a dream being fulfilled, a dream to see qualified young Bahamians learning and executing a profession that continues to look to the outside for trained technicians.
He revealed that he was asked by a family member to come back to The Bahamas from Canada and help another aging family member save the business. "I should point out that it was a decaying business and needed trained and experienced human capital," he said, stating that a consultant arranged for him to meet with BAIC's Dr. Major for guidance and direction on the way forward. Tighe said that after much discussion, a meeting was organized with Dr. Iva Dahl and her team from BTVI.
"I cannot stress enough the importance of this union, a collaborative effort from all parties. With this kind of partnership, the end result is a win-win situation," said Dr. Dahl. The BTVI manager called the partnership encouraging and said it will have the impact of stimulating a little-known industry that is predominantly staffed by non-Bahamians, "Because the local Bahamian does not carry internationally-recognized certification." She added that the program would also offer international certification and help to expand BTVI's curriculum offerings.
read more »
Forbes formally announced that the public private partnership sponsoring the program is comprised of BAIC, BTVI and Bahamas Elevator Systems (BES). Forbes said it has always been the belief of BAIC that a strong and thriving small business community can be the catalyst for a strong and vibrant economy, employing thousands and economically empowering the people of The Bahamas.
"Today, the public private partnership that BAIC is fostering is another step in the development of programs involving government and the business community," said Forbes.
According to him, six months ago BES owner and General Manager Richard Tighe met with Don Major, BAIC's deputy general manager and revealed that his firm found it challenging to find qualified, trained elevator technicians to meet the demands of projects like Baha Mar, which offer an abundance of jobs where Bahamians can and should be employed. "Therefore, recognizing this ever-widening abyss within this industry sector, Mr. Don Major of BAIC, Mr. Richard Tighe of BES and his consultant, birthed this partnership and enlisted BTVI's participation as a vital part of the collaboration," said Forbes.
The executive chairman said generations of Bahamians will benefit vocationally and economically. For Tighe, the launch of the program is a dream being fulfilled, a dream to see qualified young Bahamians learning and executing a profession that continues to look to the outside for trained technicians.
He revealed that he was asked by a family member to come back to The Bahamas from Canada and help another aging family member save the business. "I should point out that it was a decaying business and needed trained and experienced human capital," he said, stating that a consultant arranged for him to meet with BAIC's Dr. Major for guidance and direction on the way forward. Tighe said that after much discussion, a meeting was organized with Dr. Iva Dahl and her team from BTVI.
"I cannot stress enough the importance of this union, a collaborative effort from all parties. With this kind of partnership, the end result is a win-win situation," said Dr. Dahl. The BTVI manager called the partnership encouraging and said it will have the impact of stimulating a little-known industry that is predominantly staffed by non-Bahamians, "Because the local Bahamian does not carry internationally-recognized certification." She added that the program would also offer international certification and help to expand BTVI's curriculum offerings.
read more »
May 10, 2013
The Grand Bahama Down Syndrome Society received a boost from Fidelity Bank, a proud sponsor of the organization's annual fundraiser. The Buddy Walk, scheduled for tomorrow, May 11 is now in its second year. Proceeds raised from this event will be used to develop an early intervention resource guide for children with special needs and support the Grand Bahama Special Olympics team.
"Fidelity Bank takes pride in supporting an organization that strives to raise awareness and promote the acceptance and inclusion of children and adults with Down syndrome," said Allison Levarity, branch manager for Fidelity Bank in Grand Bahama. "Families are the cornerstone of communities and Fidelity puts top priority in supporting a charity whose vision is to empower every person with Down syndrome to realize their potential as productive contributing members of the Grand Bahama community."
The Buddy Walk is a one-mile walk event in which people with Down syndrome invite 'buddies' to walk with them, providing an opportunity to inspire and educate participants, while celebrating the many abilities and accomplishments of people with Down syndrome, according to Wende Hanna, president of the Grand Bahama Down Syndrome Society. "Last year, we achieved our goal of becoming a legal nonprofit organization through donations such as these, and we thank Fidelity Bank for its generous contribution as we are hoping that this year's walk will be bigger and better as we aim to complete the goals set for this year," said Hanna.
Down syndrome is a genetic condition which occurs when some, or all, of a person's cells have an extra copy of Chromosome 21. This additional genetic material alters the person's course of development and causes the characteristics associated with Down syndrome. With around 7 million people with Down syndrome worldwide, it is the most common and recognized form of learning disability.
Fidelity Bank encourages the entire community to get involved and become informed about this syndrome by logging in to www.gbdownsyndromesociety.com.
read more »
"Fidelity Bank takes pride in supporting an organization that strives to raise awareness and promote the acceptance and inclusion of children and adults with Down syndrome," said Allison Levarity, branch manager for Fidelity Bank in Grand Bahama. "Families are the cornerstone of communities and Fidelity puts top priority in supporting a charity whose vision is to empower every person with Down syndrome to realize their potential as productive contributing members of the Grand Bahama community."
The Buddy Walk is a one-mile walk event in which people with Down syndrome invite 'buddies' to walk with them, providing an opportunity to inspire and educate participants, while celebrating the many abilities and accomplishments of people with Down syndrome, according to Wende Hanna, president of the Grand Bahama Down Syndrome Society. "Last year, we achieved our goal of becoming a legal nonprofit organization through donations such as these, and we thank Fidelity Bank for its generous contribution as we are hoping that this year's walk will be bigger and better as we aim to complete the goals set for this year," said Hanna.
Down syndrome is a genetic condition which occurs when some, or all, of a person's cells have an extra copy of Chromosome 21. This additional genetic material alters the person's course of development and causes the characteristics associated with Down syndrome. With around 7 million people with Down syndrome worldwide, it is the most common and recognized form of learning disability.
Fidelity Bank encourages the entire community to get involved and become informed about this syndrome by logging in to www.gbdownsyndromesociety.com.
read more »
May 09, 2013
Norwegian Breakaway, the newest ship for Norwegian Cruise Line, has added The Bahamas to its itinerary beginning in October.
The Norwegian Breakaway is the first of two Breakaway class ships that's being built for Norwegian Cruise Line.
Prime Minister Perry Christie was among the dignitaries and other special guests who attended yesterday's lavish christening and celebration onboard the vessel.
During his remarks, he thanked K.T. Lim, chairman of Resorts World Genting, which has a 50 percent stake in the Norwegian Cruise Line, for his investments to date and his continued interest in The Bahamas.
"You have invested significantly in the Commonwealth of The Bahamas," Christie said.
"You have the basis to make further investments. When one adds this cruise ship and the others that will come to our country, it is for me to express on behalf of the government and people of the Commonwealth of The Bahamas a real appreciation for the consideration that you and your company continues to express in favor of our country."
The ship's inaugural trip to The Bahamas takes place in October, as part of its seven-day Florida/Bahamas itinerary.
The Norwegian Breakaway has combined innovative design including The Waterfront and 678 Ocean Place with three decks of dining, entertainment, the largest aqua park and a ropes course at sea, along with the first ever salt room in the luxurious spa.
"We are elated to take ownership of this spectacular new vessel, the Norwegian Breakaway that has so many unique features, world-class entertainment and artfully designed staterooms," said Kevin Sheehan, the cruise line's chief executive officer.
Norwegian Breakaway's entertainment will include three Broadway shows. It will also feature a fireworks show on every cruise and will be the grand finale of a decadent 1980s-themed deck party.
Celebrity Chef and Food Network star Geoffrey Zakarian will also debut his first restaurant at sea on Norwegian Breakaway called the "Ocean Blue by Geoffrey Zakarian". Buddy Valastro, star of the TLC series "Cake Boss", will open an extension of his popular bakery, Carlo's Bake Shop.
The ship will feature a total of 28 dining options on board and an ice bar.
The Norwegian Breakaway will head to Bermuda to start its first seven-day cruise beginning on May 13.
Minister of Tourism Obie Wilchcombe was also on hand at yesterday's launch.
Meantime, its sister ship, Norwegian Getaway is expected to launch in Miami on February 1, 2014.
read more »
The Norwegian Breakaway is the first of two Breakaway class ships that's being built for Norwegian Cruise Line.
Prime Minister Perry Christie was among the dignitaries and other special guests who attended yesterday's lavish christening and celebration onboard the vessel.
During his remarks, he thanked K.T. Lim, chairman of Resorts World Genting, which has a 50 percent stake in the Norwegian Cruise Line, for his investments to date and his continued interest in The Bahamas.
"You have invested significantly in the Commonwealth of The Bahamas," Christie said.
"You have the basis to make further investments. When one adds this cruise ship and the others that will come to our country, it is for me to express on behalf of the government and people of the Commonwealth of The Bahamas a real appreciation for the consideration that you and your company continues to express in favor of our country."
The ship's inaugural trip to The Bahamas takes place in October, as part of its seven-day Florida/Bahamas itinerary.
The Norwegian Breakaway has combined innovative design including The Waterfront and 678 Ocean Place with three decks of dining, entertainment, the largest aqua park and a ropes course at sea, along with the first ever salt room in the luxurious spa.
"We are elated to take ownership of this spectacular new vessel, the Norwegian Breakaway that has so many unique features, world-class entertainment and artfully designed staterooms," said Kevin Sheehan, the cruise line's chief executive officer.
Norwegian Breakaway's entertainment will include three Broadway shows. It will also feature a fireworks show on every cruise and will be the grand finale of a decadent 1980s-themed deck party.
Celebrity Chef and Food Network star Geoffrey Zakarian will also debut his first restaurant at sea on Norwegian Breakaway called the "Ocean Blue by Geoffrey Zakarian". Buddy Valastro, star of the TLC series "Cake Boss", will open an extension of his popular bakery, Carlo's Bake Shop.
The ship will feature a total of 28 dining options on board and an ice bar.
The Norwegian Breakaway will head to Bermuda to start its first seven-day cruise beginning on May 13.
Minister of Tourism Obie Wilchcombe was also on hand at yesterday's launch.
Meantime, its sister ship, Norwegian Getaway is expected to launch in Miami on February 1, 2014.
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May 09, 2013
A leading cardiologist who plans to open a stem cell research facility in the country later this year applauded the government yesterday for tabling draft stem cell legislation in the House of Assembly, but said the law needs some tweaking in order to fit the needs of the burgeoning sector.
Dr. Conville Brown performed a stem cell procedure last October at Doctors Hospital. He, along with a host of other medical professionals and stakeholders, have been asked to produce recommendations to modify the draft legislation.
Brown said he would like to see the legislation in place this year. He added that there are some areas in the draft that needed to be strengthened and others that need to be weakened, but did not want to comment specifically as work on the law is ongoing.
"I'm happy that they tabled the draft, and I'm happy that they provided an opportunity for input," he told Guardian Business.
"There are certain things that we think could be improved because it's a first draft."
He said several medical groups and representatives from the religious community have been asked to submit recommendations for the legislation.
"We have not been given a timeline [to turn in recommendations]. We've just been told to do it as soon as possible."
He said the law is needed to police the sector and weed out unscrupulous characters.
"You need legislation because you can't have Peter, Paul, Mary and Tom, Dick and Harry coming here for a free-for-all."
Last month, Prime Minister Perry Christie tabled a Stem Cell Research and Therapy Bill along with draft regulations in the House of Assembly.
At the time Christie said pending stem cell proposals have been put on hold until the government enacts the legislation and regulations to govern the sector.
He also said the country has the chance to be a world leader in stem cell therapy.
It is estimated that the research could inject more than $100 million into the Bahamian economy annually.
Under the proposed rules, every facility or laboratory doing stem cell research or therapy has to be licensed under the Hospital and Health Care Facility Act.
The bill calls for the establishment of a National Stem Cell Ethics Committee that would review every person who researches stem cells or provides stem cell therapy.
The bill prohibits human cloning and the creation of a new stem cell line from a human embryo among other banned procedures.
Anyone who violates the stem cell law could face a $250,000 fine, 10 years in prison or both.
Last November, Brown told Guardian Business that there could be "hundreds" of stem cell procedures performed locally by this fall.
read more »
Dr. Conville Brown performed a stem cell procedure last October at Doctors Hospital. He, along with a host of other medical professionals and stakeholders, have been asked to produce recommendations to modify the draft legislation.
Brown said he would like to see the legislation in place this year. He added that there are some areas in the draft that needed to be strengthened and others that need to be weakened, but did not want to comment specifically as work on the law is ongoing.
"I'm happy that they tabled the draft, and I'm happy that they provided an opportunity for input," he told Guardian Business.
"There are certain things that we think could be improved because it's a first draft."
He said several medical groups and representatives from the religious community have been asked to submit recommendations for the legislation.
"We have not been given a timeline [to turn in recommendations]. We've just been told to do it as soon as possible."
He said the law is needed to police the sector and weed out unscrupulous characters.
"You need legislation because you can't have Peter, Paul, Mary and Tom, Dick and Harry coming here for a free-for-all."
Last month, Prime Minister Perry Christie tabled a Stem Cell Research and Therapy Bill along with draft regulations in the House of Assembly.
At the time Christie said pending stem cell proposals have been put on hold until the government enacts the legislation and regulations to govern the sector.
He also said the country has the chance to be a world leader in stem cell therapy.
It is estimated that the research could inject more than $100 million into the Bahamian economy annually.
Under the proposed rules, every facility or laboratory doing stem cell research or therapy has to be licensed under the Hospital and Health Care Facility Act.
The bill calls for the establishment of a National Stem Cell Ethics Committee that would review every person who researches stem cells or provides stem cell therapy.
The bill prohibits human cloning and the creation of a new stem cell line from a human embryo among other banned procedures.
Anyone who violates the stem cell law could face a $250,000 fine, 10 years in prison or both.
Last November, Brown told Guardian Business that there could be "hundreds" of stem cell procedures performed locally by this fall.
read more »
May 09, 2013
A young entrepreneur has injected $10 million into technology that he believes will change local construction and save homebuilders up to 25 percent in construction costs.
Sebas Bastian, CEO of Aventura Development Group, revealed to Guardian Business that his company made the decision to use light gate steel to construct homes, buildings and other superstructures.
Back in October the company invested in a manufacturing plant, which will play an integral role in its latest offering.
"We will be manufacturing homes and other buildings out of light gate steel (LGS). As a developer going into our fifth project right now, we see the need for faster and more efficient construction, as conventional construction is just too slow. The rest of the
world has surpassed us in this technology. We're trying to be innovative and catch up with the rest of the world," he said.
Bastian pointed out that constructing a home with LGS technology is not only faster, but is cost effective and energy efficient. He estimates it can take 45 days to construct a 1,500-square-foot turnkey home, as opposed to a conventionally built one that can take anywhere from nine to twelve months to construct.
"We bring in the raw materials and using sophisticated and high-powered software, we are able to draw these various homes or any design that a person wants in the software and then we upload it to our machines," he explained.
"Our machine basically spits the house out of light gate steel exactly the way we drew it. In fact, you won't even know that it's built out of LGS. You will know that your house was built very fast, looks beautiful and costs significantly less. The technology is so sophisticated that it eliminates a lot of the contractor errors and sub-standard building practices that we have been seeing in the industry today.
"These homes are engineered to withstand 180 mph winds. We engineer them to meet the country's building code. They are just as strong and robust as building out of brick and mortar."
To date, more than 1,400 tons of steel have been imported, more than enough material, Bastian revealed, to build in excess of 200 homes. He admitted to Guardian Business that the original plan was just to use the technology for his developments, but after recognizing the need, there are larger projects in the works.
"We just completed a commercial building in the Carmichael area that we started on March 11 and the guys are painting now so that can give you an idea of how fast and strong this technology is. It's the building that's just west of Esso located on Faith Avenue," he noted.
"Originally, it was going to be for just our developments but we are also going to be doing larger projects. We will also be doing superstructure work. We can just build the structure and then they can finish it how they see fit and at their own pace."
Aventura currently has 75 employees, but Bastian shared with Guardian Business that that number will jump to 150 in a matter of weeks, as the company gets ready to break ground on its fifth development, located in the Old Fort Bay area. Vieira West will be completely built out using LGS technology.
"With the upcoming project we are slated to start on June 4. That will boost our employment up to 150. We brought in the experts to train our employees about this technology. Once they're up to speed, our employees will be fully responsible for the technology's management and operations," he added.
read more »
Sebas Bastian, CEO of Aventura Development Group, revealed to Guardian Business that his company made the decision to use light gate steel to construct homes, buildings and other superstructures.
Back in October the company invested in a manufacturing plant, which will play an integral role in its latest offering.
"We will be manufacturing homes and other buildings out of light gate steel (LGS). As a developer going into our fifth project right now, we see the need for faster and more efficient construction, as conventional construction is just too slow. The rest of the
world has surpassed us in this technology. We're trying to be innovative and catch up with the rest of the world," he said.
Bastian pointed out that constructing a home with LGS technology is not only faster, but is cost effective and energy efficient. He estimates it can take 45 days to construct a 1,500-square-foot turnkey home, as opposed to a conventionally built one that can take anywhere from nine to twelve months to construct.
"We bring in the raw materials and using sophisticated and high-powered software, we are able to draw these various homes or any design that a person wants in the software and then we upload it to our machines," he explained.
"Our machine basically spits the house out of light gate steel exactly the way we drew it. In fact, you won't even know that it's built out of LGS. You will know that your house was built very fast, looks beautiful and costs significantly less. The technology is so sophisticated that it eliminates a lot of the contractor errors and sub-standard building practices that we have been seeing in the industry today.
"These homes are engineered to withstand 180 mph winds. We engineer them to meet the country's building code. They are just as strong and robust as building out of brick and mortar."
To date, more than 1,400 tons of steel have been imported, more than enough material, Bastian revealed, to build in excess of 200 homes. He admitted to Guardian Business that the original plan was just to use the technology for his developments, but after recognizing the need, there are larger projects in the works.
"We just completed a commercial building in the Carmichael area that we started on March 11 and the guys are painting now so that can give you an idea of how fast and strong this technology is. It's the building that's just west of Esso located on Faith Avenue," he noted.
"Originally, it was going to be for just our developments but we are also going to be doing larger projects. We will also be doing superstructure work. We can just build the structure and then they can finish it how they see fit and at their own pace."
Aventura currently has 75 employees, but Bastian shared with Guardian Business that that number will jump to 150 in a matter of weeks, as the company gets ready to break ground on its fifth development, located in the Old Fort Bay area. Vieira West will be completely built out using LGS technology.
"With the upcoming project we are slated to start on June 4. That will boost our employment up to 150. We brought in the experts to train our employees about this technology. Once they're up to speed, our employees will be fully responsible for the technology's management and operations," he added.
read more »
May 09, 2013
Executives at Transfer Solutions Providers Ltd. (TSP) are looking to offer its Mango cardholders the option of paying utility bills through an SMS messaging system sometime next month.
Harvey Morris, the company's chief financial officer, confirmed that TSP is in the final stage of developing its SMS payment application.
This offering would allow consumers to pay utility bills and person-to-person transfers via SMS.
"We believe that it is going to make a big difference to Mango. We have actually scaled the company back pending the launch of this service because what a lot of our clients said to us is that they want safety which is a factor now," he said.
"They want convenience, which we are bringing in with the SMS payments. We were toying with a loyalty card versus a discount card but because of the financial conditions we are saying that if they can get a discount card that would be more beneficial for them at this point."
Morris expressed his confidence in the new product, and believes it will truly give Mango a boost because it's a service that consumers have been asking for.
Mango's latest feature will be launched in June.
"We are pretty confident that we have a good product, a very sound system and we can really deliver the services that our clients have been asking us for. The new product will be launched sometime in June because several merchants are very much interested. That is when we expect to see Mango really take off in The Bahamas," he revealed.
Mango currently has 9,500 clients and has injected more than $3.5 million to date.
"They want a reason to use the Mango card. We have been in touch with them and that is why we have developed this SMS payment of utility bills and discounts because that is what our clients have been saying to us. We have invested a little more than $3.5 million in the last seven years," he pointed out.
The company is currently focused on upgrading its card platform.
"We want to be a one-stop shop where a client can come in and get his credit, pay his bills, use his card and everything is going to operate using one platform. We expect it to be pretty exciting," Morris added.
read more »
Harvey Morris, the company's chief financial officer, confirmed that TSP is in the final stage of developing its SMS payment application.
This offering would allow consumers to pay utility bills and person-to-person transfers via SMS.
"We believe that it is going to make a big difference to Mango. We have actually scaled the company back pending the launch of this service because what a lot of our clients said to us is that they want safety which is a factor now," he said.
"They want convenience, which we are bringing in with the SMS payments. We were toying with a loyalty card versus a discount card but because of the financial conditions we are saying that if they can get a discount card that would be more beneficial for them at this point."
Morris expressed his confidence in the new product, and believes it will truly give Mango a boost because it's a service that consumers have been asking for.
Mango's latest feature will be launched in June.
"We are pretty confident that we have a good product, a very sound system and we can really deliver the services that our clients have been asking us for. The new product will be launched sometime in June because several merchants are very much interested. That is when we expect to see Mango really take off in The Bahamas," he revealed.
Mango currently has 9,500 clients and has injected more than $3.5 million to date.
"They want a reason to use the Mango card. We have been in touch with them and that is why we have developed this SMS payment of utility bills and discounts because that is what our clients have been saying to us. We have invested a little more than $3.5 million in the last seven years," he pointed out.
The company is currently focused on upgrading its card platform.
"We want to be a one-stop shop where a client can come in and get his credit, pay his bills, use his card and everything is going to operate using one platform. We expect it to be pretty exciting," Morris added.
read more »
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