Local Business

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Sky Bahamas in fight to survive: Flights grounded and airline could face total collapse

Sky Bahamas’ principal yesterday said the airline and its 63 employees are fighting for its survival following a two-week long grounding due to delays in a key permit’s renewal.

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BTC warns staff – Time to get real: CEO tells unions to stop confrontation and accept change

The Bahamas Telecommunications Company’s (BTC) trade unions have been warned their tactics “could be fatal” to a business that has lost $110m in revenue in less than three years.

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Marsh Harbour ‘closure’ crisis

Abaco's main shipping port faces a 'make or break' inspection tomorrow that could result in its closure and derail the island's economy by halting virtually all cargo trade with the US.

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BOB: $10m claims were ‘abandoned’ by default pursuers

Bank of The Bahamas has accused companies jointly owned by an ex-Cabinet minister’s family trust of “already abandoning” claims worth $10m in their bid to enforce a default judgment.

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‘Tax on society’: 75% of workers have no pension

Bahamians face paying “another tax on society” to support the near-75 percent of workers not covered by an employer-sponsored pension plan, a leading investment banker has warned.

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Citibank to head BPL refinancing of up to $550m

Citibank has been selected as the lead adviser for the $450m-$550m mega financial restructuring of Bahamas Power & Light (BPL), Tribune Business has been informed.

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Generation need drives BPL’s first four solar choices

Bahamas Power & Light’s (BPL) chairman yesterday said the four Family Islands targeted to pioneer solar energy’s roll-out were selected because of their “additional generation needs”.

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Hot Mix offered to raise $750m loan

A company part-owned by Brent Symonette's family offered to raise up to $750m in cheap British government loans to fund critical infrastructure works in The Bahamas.

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Sarkis in new court victory over CCA

Sarkis Izmirlian’s $2.25bn fraud and breach of contract claim against Baha Mar’s main contractor was yesterday given full clearance to proceed by a New York appeals court.

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DPM: Middle class fear over IMF’s income tax

The deputy prime minister yesterday warned that following the IMF’s income tax call would likely result in “a significantly higher tax burden” for middle class Bahamians.

Young accountants reception

YOUNG accountants who recently completed their degree programme were welcomed into the profession by the ...