Local Business


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BPL race to fix new plant issue: Minister orders firm it must resolve cooling problem with engines

Bahamas Power & Light is racing against time to have its new $95m electricity plant ready to meet peak summer demand after plans for its cooling system literally hit the rocks.

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Funeral home row on Dorian burials

A minister has denied that the Government reneged “on its word” to allow a funeral home association to bury Hurricane Dorian’s unidentified victims on Abaco.The Bahamas Funeral Directors Association (BFDA), in a February 19, 2020, letter said it was

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Gaming Board’s redundancy fail ‘mind boggling’ - judge

A Supreme Court judge has slammed the Gaming Board’s failure to follow “clearly set out” employment law procedures when it dismissed 24 staff as “mind boggling”.

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AG hails ‘a new day’ on financial regulation

The Bahamas is targeting a June “exit” from a list of 18 nations with “strategic deficiencies” in their anti-financial crime defenses, the attorney general said yesterday, hailing “a new day” in regulation.

Land surveyors query PM over Crown Land

Private sector executives have challenged the Prime Minister’s assertion that a shortage of land surveyors is impeding the Government’s ability to issue Crown Land grants to Bahamians. Dave Taylor, secretary of the Bahamas Association of Land Surveyo

What impact will coronavirus have on financial markets?

The novel coronavirus first appeared in Wuhan sometime in December and, at the time of writing (February 19), there are over 70 million people infected worldwide, resulting in more than 2000 fatalities. The emergence of the disease triggered an unpre

Building materials still 'go missing' on Abaco

Building suppliers said port security remains a major concern in Abaco as reconstruction efforts start to ramp up because materials are still “going missing”.Chris Lleida, Premier Importers’ chief executive, said demand for the company’s construction

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QC’s account closures cost Scotiabank $10k

A Bahamian QC has won $10,000 in damages from Scotiabank (Bahamas) after it abruptly closed his law firm’s bank accounts without giving any warning.

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Dutch demand 9% corporate taxation to escape blacklist

The Netherlands yesterday demanded that The Bahamas implement a corporate income tax at 9 percent or higher as the price to escape tax non-cooperation “blacklist”.

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OECD tax demands may 'devastate the economy'

The Bahamas “may devastate the economy” if it surrenders too easily to demands from high-tax European nations for a corporate income tax, a former finance minister warned yesterday. James Smith, who held the post during the first Christie administra

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Two insurance sites eyed for Health ministry

The Government is in “very advanced negotiations” to move the Ministry of Health into two former insurance buildings in the Palmdale area, a Cabinet minister confirmed yesterday. Dr Duane Sands, minister of health, told Tribune Business that the for

Customs cracks down on Abaco aircraft 'abuses'

Bahamas Customs yesterday said it was cracking down on potential “abuses” by private aircraft in response to concerns that it has grounded Abaco’s only air freight provider post-Dorian.The agency, in a statement issued yesterday, did not say Abaco Fr

Arawak port targets 10-20% profits rise

The Nassau Container Port’s operator yesterday said its 2020 profits could beat the prior year by as much as 10-20 percent following a stronger-than-anticipated first half. Dion Bethell, Arawak Port Development Company’s (APD) president and chief fi

$100m investment to regain Shipyard's competitiveness

The Grand Bahama Chamber of Commerce’s president yesterday voiced optimism that the planned $100m investment in the Grand Bahama Shipyard will maintain its competitiveness. Speaking after Carnival Cruise Line, a 40 percent shareholder in the Shipyar

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BTC suffers further 4% mobile subscriber drop

THE Bahamas Telecommunications Company (BTC) suffered a further 4 percent mobile subscriber erosion in the 2019 fourth quarter, it was revealed last night, while struggling to penetrate other market segments. Liberty Latin America (LiLAC), the Baham