Local Business


University’s $18.3m bond ‘fully taken’ from first day

The University of the Bahamas’ (UOB) advisers yesterday predicted its $18.3 million bond issue will be fully subscribed on the first day, with Monday’s launch only awaiting the Minister of Finance’s sign-off.

Freeport tax regime repeal must pressure ‘the two free riders’

A former Grand Bahama Port Authority (GBPA) attorney yesterday expressed hope that the promised repeal of Freeport’s new investment regime will pressure “the two free riders” whose impact on Bahamians is “five times’ greater” than Baha Mar’s.

‘Put to bed’ Freeport’s regulatory uncertainty

The long-running uncertainty over who has regulatory responsibility in Freeport “needs to be put to bed once and for all”, the Chamber of Commerce’s chairman urged yesterday.

Gov’t narrows inner city taxation breaks

The Government yesterday appeared to narrow its planned VAT and inner-city ‘tax breaks’, while seeking to deliver on campaign promises of accountability, transparency and good governance.

‘Huge confidence boost’ if all GBPA licensees get 20-year tax break

Freeport will enjoy “a huge boost to business confidence” if the Government delivers a 20-year ‘tax break’ renewal for all, the Grand Bahama Chamber of Commerce’s president said yesterday.

Gov't 'entering real world of governance'

The Opposition’s leader yesterday said the Minnis administration must now “enter the real world of governance”, describing the ‘Speech from the Throne’ as an admission of the foundation laid by the former government. Speaking at a press conference in

Opposition warns on repealing Freeport's investment regime

The Opposition yesterday warned the Government against “repealing and replacing” Freeport’s investment incentive regime, the former Grand Bahama minister branding it “transformative”.Senator Dr Michael Darville told Tribune Business: “The Opposition

Taxi cab president urges: 'Clean up' current system

The Bahamas Taxicab Union’s (BTU) president yesterday urged the Government to “clean up” the existing list of franchise holders, suggesting there could be more than 200 New Providence-registered plates not used for 15 years or more.The Minnis adminis

Tourism told Exuma: ‘Make Fyre happen’

Exuma’s business and local government executives were urged by Ministry of Tourism officials “to work together” and ensure the ill-fated Fyre Festival’s success just one month before its collapse, Tribune Business was told yesterday.

Matthew blows Summit off ‘five-year peak’ track

A Bahamian insurer yesterday said it was “on track to have our best year for five years” until Hurricane Matthew intervened, dropping total comprehensive income by 61.7 per cent year-over-year.

Insurer: 40% of market at price ‘tipping point’

UP to 40 per cent of Bahamian policyholders are opting to either drop hurricane coverage or take on higher deductibles, with property and casualty premiums yesterday said to have reached “a tipping point” for many.

Bahamas ‘supertanker’ won’t change overnight

The Bahamas will not achieve “the radical change” it needs overnight, a governance reform campaigner likening the required effort to the time it takes to “turn a supertanker”

Regulator focuses on credit unions’ political clients

The Central Bank yesterday unveiled changes to its anti-money laundering guidelines to reflect its takeover of credit union regulation, with particular emphasis on politically exposed persons (PEPs).

Revamped Employment Exchange to launch July 1

The Department of Labour’s revamped and modernised Employment Exchange is expected to go live on July 1, its director said yesterday.

Medical labs sign up despite NHI concerns

Medical laboratories yesterday said they were “willing to start” with National Health Insurance (NHI) despite lingering concerns over payment rates.