Local Business


Baha Mar deal ‘can’t be tax free’ after Matthew

Baha Mar’s sale must not be “scott free” of the normal 10 per cent ‘transfer tax’, the Opposition’s deputy leader demanded yesterday, suggesting such revenues could “more than compensate” for Hurricane Matthew relief costs.

Bran: LOI claims will ‘turn away’ foreign investors

The Democratic National Alliance’s (DNA) leader yesterday said the allegations made by the group at the centre of the Renward Wells Letter of Intent (LOI) controversy threaten “to turn foreign investors away from the Bahamas”.

North Andros’ Matthew losses may hit $20-$30m

The North Andros economy may have suffered $20-$30 million in losses as a result of Hurricane Matthew, the Chamber’s chief executive said yesterday.

‘Absolutely no excuse’ for Contractors Bill delay post-Matthew

There is “absolutely no excuse” for further delaying the Contractors Bill’s passage into law, an ex-Bahamian Contractors Association (BCA) president said yesterday, arguing that regulation was needed more than ever in Hurricane Matthew’s wake.

Matthew relief still aiming to ‘promote compliance culture’

While Hurricane Matthew relief efforts will be “more flexible” than those for Joaquin, the Chamber’s chief executive yesterday warned that they would still seek to promote “a culture of compliance”.

Matthew makes air travel ‘even slower’

A senior airline executive said yesterday that a traditionally slow travelling period had become “even slower” in the wake of Hurricane Matthew, telling this newspaper: “Right now, people’s resources are stretched.”

Sandals ‘practically full’ by early November date

Sandals Royal Bahamian executives said yesterday that they expect the resort to be at “practically full” occupancy by early November, with the property set for a ‘soft opening’ today just over two months after undertaking $4 million worth of renovations.

Unions demand PM Sandals intervention

The Bahamas’ two trade union bodies are calling on Prime Minister Perry Christie to facilitate negotiations with Sandals Royal Bahamian for the reinstatement of all terminated union officers, along with the other workers released back in August.

Allen’s $100k demand rejected by LOI group

The group at the centre of the Renward Wells Letter of Intent (LOI) controversy rejected an ex-Cabinet Minister’s alleged $100,000 demand for sending a solitary letter to the Government over its waste-to-energy proposal.

Insurer says 15% of Matthew roof loss ‘preventable’

An insurer believes 15 per cent of Hurricane Matthew-related roof damage was preventable, blaming “shoddy workmanship” and enforcement failures for exacerbating losses.

Nine-fold increase in job placement rate now targeted

A nine-fold improvement in job seeker placement rates is being targeted by a $50 million initiative that aims to overhaul skills training and employment preparation in the Bahamas.

Matthew puts building inspection outsource ‘back on the table’

The outsourcing of building inspections “has to come back on the table for a serious conversation” if the Bahamas is to prevent future Hurricane Matthew-type devastation, the Bahamian Contractors Association’s (BCA) president believes.

Business non-compliance impacted Joaquin recovery

Just one in four business applications for post-Hurricane Joaquin assistance was approved because many enterprises were non-compliant with tax and other legal requirements.

Govt slammed over landfill due diligence

The Opposition’s deputy leader has slammed the Government for failing to conduct proper due diligence on Renew Bahamas, after the New Providence landfill manager suspended its services in Hurricane Matthew’s wake.

BPL ‘set up to fail’

Amid intense criticism of the pace of New Providence electricity supply post-Matthew, the Opposition’s deputy leader believes Bahamas Power and Light (BPL) and its management company were “set up to fail”.