Local Business


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Auto ‘shot in arm’ via 31% sales rise

Auto dealers received a “badly needed shot in the arm” from 2019’s 31.18 percent sales increase, it was revealed yesterday, marking the industry’s best performance since VAT’s arrival.

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Financial firms in 'strategic alliance'

A well-known Bahamian accounting firm has teamed with a local investment house in a “strategic alliance” that has seen the latter taking over its back office and registered agent functions.Senior executives at FT Consultants and Providence Advisors c

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BPL targets fall 2021 for rental generation end

Bahamas Power & Light (BPL) last night confirmed it aims to end its reliance on rental generation by fall 2021 in a move that would save long-suffering consumers $2m-plus per month.

Odyssey confirms overflight fees bid

Odyssey Aviation, the fixed base operator (FBO) with a presence in Nassau, yesterday confirmed it was among the rejected bidders who sought to operate The Bahamas’ overflight fee regime. Steven Kelly, its chief executive, told Tribune Business: “We

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'Unify' Abaco's power grid to eliminate four voltages

The Inter-American Development Bank (IDB) has warned many Abaco residents will be without power “for a year or longer”, as it called for a “unified” grid to eliminate the four voltages used pre-Dorian.The multilateral lender, in documents accompanyin

Minister 'apologises' for Abaco omission

The tourism minister yesterday apologised for his ministry’s decision to remove the Abacos from its marketing platforms, and vowed to switch to more “specific” messaging about the islands. Dionisio D’Aguilar, minister of tourism and aviation, conced

Furniture store grows into its third location

A Bahamian-owned outdoor furniture store is expanding to its third location less than three years after opening its Sandyport outlet.Oasis Furniture has extended its footprint to Eleuthera by collaborating with Governor’s Harbour-based Bahama Hand Pr

Customs has 'weathered many storms', says DPM

The deputy prime minister has praised the Customs Department for “weathering many storms” such as the criticism it faced over its electronic Click2Clear goods clearance system. K Peter Turnquest, speaking at its awards ceremony, also reminded the De

US hails Bahamas air agreement as 'win-win'

A top US official yesterday hailed the signing of an air transport agreement with The Bahamas as a “win-win” situation that paves the way for increased airlift and economic growth in both countries.David Short, the US Department of Transportation’s d

Protected Areas Fund in $1.1m german Grant

THE Bahamas Protected Areas Fund (BPAF) will receive $1.1m from the German government to aid with post-Hurricane Dorian recovery and environmental damage assessments. The Bahamas is normally disqualified by its relatively high per capita income from

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100m tax ‘rebate’ in doubt

Hurricane Dorian’s financial fall-out has placed the government’s plan to return $100m to the Bahamian people through “significant tax cuts” in doubt, the deputy prime minister has revealed.

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Economy 'running on 30% efficiency'

The Bahamian economy is “running on 30 percent efficiency” because of its public education woes, a governance reformer has warned, arguing that these have placed “the entire nation in peril”. Robert Myers, the Organisation for Responsible Governance

Outrage at Abaco tourism omission

A furious South Abaco tourism business is blasting the Ministry of Tourism for “scrubbing” the island’s portal from its website, arguing that this threatens “to tear us down even further” post-Dorian.

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Bahamas in Fintech 'first for Caribbean'

Corporate loan rejection rates in The Bahamas are double those in other Caribbean countries, it has been revealed, resulting in financial technology (Fintech) being deployed to boost capital access. An Inter-American Development Bank (IDB) paper on

Climate change 'reverse' for real estate valuations

A Bahamian realtor says climate change is reversing real estate market values “back to the era of our grandparents” with an emphasis on elevated locations away from the coast. Monica Knowles, a top producer at Bahamas Realty, argued that the impact