Search results for : firms

Showing 101 to 110 of 1000 results


News Article
91% of Bahamas firms account for 5.3% of GDP

The planned Small Business Council will create various "taskforces" to assess how best to implement recommendations to enhance Bahamian small and medium-sized businesses that were contained in a 2007 Inter-American Development Bank (IDB) report, which estimated that despite containing 91 per cent of all businesses, this sector produced just 5.3 per cent of national gross domestic product (GDP).

Khaalis Rolle, the Bahamas Chamber of Commerce's president and co-chair for the Council, said last week that the IDB report, which was never formally published by the Government or IDB, would provide a "road map" for the body's work going forward.

read more »


News Article
Freeport firms raise concern over engineerwork permits

By ALISON LOWE

Business Reporter

alowe@tribunemedia.net

Concerns about demands that foreign executives get work permits to enter the Bahamas to attend same-day meetings, and the length of time it can take to get specialist engineers in from abroad, were raised last week with the Minister of Immigration by executives from industrial companies operating in Freeport, Tribune Business can reveal.

This was confirmed yesterday by Deputy Prime Minister and Minister of Foreign Affairs and Immigration, Brent Symonette, who held a meeting last Friday with executives from 13 of Grand Bahama's major, primarily industrial, companies.

Grand Bahama Power Company, the Grand Bahama Shipyard, Pharmach ...

read more »


News Article
100 Bahamian firms hired for Baha Mar

By NEIL HARTNELL

Tribune Business Editor

"Close to" 100 Bahamian companies have been engaged on $100 million worth of contracts awarded on Baha Mar's $2.6 billion Cable Beach expansion, a senior executive yesterday saying the project was "on target" to achieve its projected economic impacts.

Robert Sands, Baha Mar's senior vice-president for external and governmental affairs, told Tribune Business that some 1,060 Bahamians had been employed on the Baha Mar project to date as Phase One construction moved to a close.

The "first coat of paint" was being placed on the bank and government buildings comprising Baha Mar's Commercial Village, Mr Sands said, with ...

read more »


News Article
1 in 10 reverse mergers of Chinese firms on US stock exchanges fraudulent

At
least 10% of Chinese companies that have gone public on stock
exchanges in the United States are engaged in fraud. The deals often

involve establishing offshore holding companies in the British Virgin
Islands, Cayman Islands, Samoa or another offshore jurisdiction in
order to conceal illegal conduct.

The startling claim, following extensive research, was made to OffshoreAlert by Sharesleuth.com, an investigative news web-site controlled by well-known American businessman Mark Cuban.

"Upwards of 400 Chinese companies have gone public on U.S. exchanges through reverse mergers," says Chris Carey, Editor and President of Sharesleuth.com. "We've identified at least 40 deals - or fully 10 percent - that have involved some degree of fraud or deception...

read more »


News Article
FIRMS PREPARE AS LAST STORM SIMILAR TO IRENE COST 352M

By NEIL HARTNELL

Tribune Business Editor

MAJOR Bahamas-based companies yesterday activated their disaster preparedness/Business Continuity Plans, the last storm of similar magnitude and track to Hurricane Irene having cost this nation's economy an estimated $351.5 million in loss and damage.

A little-noticed Inter-American Development Bank (IDB) report from 2009, dealing with an emergency loan facility granted to the Bahamas to help it deal with the impact from Hurricanes Frances and Jeanne in 2004, noted that the Bahamas suffered economic damage/loss equivalent to 7 per cent of its per annum gross domestic product (GDP).

Given that Hurricane Frances, a Category 4 storm with maximum wi ...

read more »


News Article
'Kiss Of Death' For 25 Firms

THE New Providence Road Improvement Project has proved to be "the kiss of death" for many small Bahamian-owned businesses in the Robinson Road and Market Street areas, a leading consultant to the sector telling Tribune Business "at least 25" had gone out of business.

read more »


News Article
Tariff equality under WTO for Freeport firms

By NEIL HARTNELL

Tribune Business Editor

Freeport-manufactured products must attract the same tariffs as rival foreign-produced ones under World Trade Organisation (WTO) rules before they can enter other Bahamian islands, this nation's chief trade negotiator said yesterday, adding that the Bahamas "can really take advantage" of the Port area's 'special status' under a rules-based trading regime.

Raymond Winder, Deloitte & Touche (Bahamas) managing partner and the Bahamas' chief negotiator in the WTO accession process, told Tribune Business that while Freeport and its 'free trade zone' status could exist under the WTO's global rules-based trading mechani ...

read more »


News Article
FOUR BAHAMAS FIRMS FIND WINNING WAYS

FOUR Bahamian businesses - a restaurant and three luxury retailers recently came up winners in the MasterCard-Ministry of Tourism 'Find Your Way' initiative, walking away with an early Christmas present of cash from the international credit and debit card company for being number one in the increase of MasterCard sales volume for the month.

The most recent winners were the Kafe Kalik restaurant at Lynden Pindling International Airport, Carlo Milano and Effy Jewellers of Bay Street, and A la Plage, Marina Village, Paradise Island. Each received international recognition and a cheque for $1,000, rewarding them for their performance.

"The outstanding performance of our winning merchant ...

read more »


News Article
SHIPPING FIRMS SET TO LEAVE BAY STREET BY MARCH

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

MOST, if not all, shipping companies should be off Bay Street by the end of March 2012, one of the key players in the $70 million Arawak Cay port development told Tribune Business yesterday.

Betty K Agencies president, Jack Sands, said: "By the end of March, I would say most if not all shippers should be off Bay Street."

Regarding a new tariff structure for shipping containers arriving in the Bahamas, with many in the business community speculating that fees would increase as a result of the move to Arawak Cay, Mr Sands told Tribune Business: "I have heard of no increases, but I haven't seen their & ...

read more »


News Article
Technology firms donate to school

Bahamas WiMax, the wireless Internet Service Provider, has partnered with Nassau-based Lignum Technologies to donate a state-of-the-art computer laboratory to Every Child Counts in Marsh Harbour, Abaco.

Bahamas Wimax's chief executive, Matthew Carey, said: "Computer skills have become required learning

read more »