Local Business


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MP's brother denies '$100k for influence'

An MP’s brother has denied he was promised $100,000 “for local influence” in helping to secure the necessary government permits for a controversial Harbour Island marina project. Michael Johnson, brother of Stephen “Hank” Johnson, the central and so

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Opening hours 'fix' is top requirement

The Chamber of Commerce’s chief executive yesterday predicted that any discrepancies in business opening hours were likely to be addressed “very quickly”, adding: “What’s important is we fix it.”Jeffrey Beckles, speaking after it was revealed that th

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Central Bank in 100% GDP wipe-out warning

The Central Bank yesterday warned the Bahamian economy would suffer a near-100 percent wipe-out if a Dorian-strength storm scores a direct hit on both New Providence and Grand Bahama.The regulator, unveiling its full report on the category five storm

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Businesses facing 'cripplingly expensive' cash flow insurance

“Cripplingly expensive” business interruption cover, and “local” bank managers allowing borrowers to only protect their loan rather than property value, were key weaknesses exposed by Hurricane Dorian. The Central Bank, in its review of the “lessons

Bahamas urged to re-examine 'citizen investors'

A Bahamas-based contractor yesterday argued that this nation should re-examine introducing an “investor citizenship” initiative to help counter COVID-19’s negative impact.

Air charter firms see 80% fall-off

Domestic travel has yet to produce a significant rebound for Bahamian airlines and charter operators, with some suffering an 80 percent drop-off despite the easing of COVID-19 lockdown restrictions. Lori Roach, director of Golden Wings Charter, told

Paradise Cruise delay 'probably for the best'

Businesses yesterday said Bahamas Paradise Cruise Line’s (BPCL) delayed return to Grand Bahama is probably for the best given the surge in COVID-19 cases in Florida. Wayne Russell, general manager of BWA Suppliers, told Tribune Business : “This is p

Contractors impatient for the promised 'flood'

Bahamian contractors yesterday said they are getting impatient for the “flood” of construction work promised by the government’s $515m capital works budget as projects dry up amid COVID-19. Jacob Fowler, owner/operator of C-Jays Building Constructio

Laying out the road map for economic resilience

In the latest of his series, Hubert Edwards says growth must be The Bahamas' focus amid the COVID-19 quagmire If the problems faced by The Bahamas are to be solved in a sustainable way, it is critical there should be a proper problem definition.

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Cable Bahamas axes 87 staff on furlough

Cable Bahamas' top executive yesterday admitted that hopes the COVID-19 crisis would "be short term" have been dashed as it permanently terminated 87 staff.

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September eyed for temporary lay-off time extension

Government and private sector officials yesterday confirmed there is “much talk” about extending the temporary lay-off period to end-September to ease job pressures.John Pinder, pictured, the director of labour, and Peter Goudie, the Bahamas Chamber

Pawn shops see business pick-up

Pawn shops yesterday said they were starting to see a business uptick as jobless Bahamians seek to unload gold and electronic goods for much-needed cash. Philippa Major, general manager of Cashwiz, told Tribune Business : “Business is coming in a li

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QC: Abaco marina ruling ‘another nail in the coffin’

An outspoken QC yesterday slammed a Court of Appeal verdict involving an Abaco marina development as “another nail in the coffin of public interest litigation”.

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Cable warily eyes $300m preference debt maturity

Cable Bahamas is warily eyeing the need to repay more than $300m in preference share debt over a five-year period from 2023 to 2027, its top executive said yesterday. Franklyn Butler, the BISX-listed communications provider’s president and chief exe

John Watling's rebrands COVID-19 hand sanitiser

John Watling’s Distillery has relaunched the hand sanitiser created to combat COVID-19 under the Buena Vista Estate name. Just three months after its initial launch, the company said it has has partnered with Blanco Chemicals to locally source spray