Local Business


BPL ‘will have to be privatised’

An “essentially insolvent” Bahamas Power & Light (BPL) will ultimately have to be privatised, the Minister of Works confirmed yesterday.

NAD transport fee aims to halt ‘chaos’

The Nassau Airport Development Company (NAD) yesterday defended proposed ground transport provider fees as essential to ending a “chaotic experience” for travellers, despite a backlash from taxi drivers.

Ex-manager targeted 47% BPL generation cost slash

Bahamas Power & Light’s (BPL) former manager aimed to slash electricity generation costs by 47 per cent, while rejecting liquefied natural gas (LNG) as the best fuel option.

Sir Franklyn: FOCOL stopped BPL 'disaster'

FOCOL Holdings prevented Bahamas Power & Light (BPL) from suffering “disaster” on Inagua by stepping in to pay its fuel debts, its chairman revealed yesterday.

Govt urged: Don’t stifle ‘huge lifeline’ for Family Islands

The Government was yesterday urged not to stifle the vacation rental sector through regulation, the Eleuthera Chamber of Commerce’s president branding it “a huge lifeline” for the Out Islands.

IAN FERGUSON: Don’t fade into obscurity by ignoring technology

Technology is inescapable. It permeates every aspect of our life. Impacting how we work, play and live, technology has created a revolution that will grow for as long as humans continue to advance and thrive in our various fields of endeavour.

Commonwealth Bank announces stock split

Commonwealth Bank yesterday announced a three-for-one stock split to boost trading activity and make its shares more affordable to retail investors.

Private sector’s reliance on Govt ‘upside down equation’

The Government is planning to restructure the Bahamas Development Bank (BDB), the Deputy Prime Minister yesterday describing private sector reliance on public contracts as an “upside down equation”.

Eleuthera resort ‘more than doubles’ capacity

Cape Eleuthera Resort & Marina has “more than doubled” its room capacity this summer by adding 18-single bedroom cottages via a $10 million investment, a senior executive confirmed yesterday.

Bahamas Ferries shifts model for ‘economies’

Bahamas Ferries has made a “strategic shift” in its business model over the past five years to generate economies of scale through combining a passenger and logistics services.

Doomed to failure

The Christie administration doomed PowerSecure to failure by failing to complete Bahamas Power & Light’s (BPL) $600 million refinancing “within six months” of the management deal.

Private sector demands: ‘What’s plan now’ for BPL?

The private sector yesterday questioned “what’s next” for Bahamas Power and Light (BPL) after it severed its relationship with its management partner, PowerSecure.

PowerSecure targeted $100m in fuel savings

Bahamas Power & Light’s (BPL) former manager targeted more than $100 million in fuel savings as key to reducing electricity rates by 50 per cent come 2020.

Minister not worried by GB losing ‘main feeder’

The Minister of Tourism yesterday said he was “not concerned at all” about the three-month loss of the Grand Celebration cruise ship, despite fears Freeport has now “hit rock bottom”.

Govt pledges Fiscal Responsibility law ‘before’ next Budget

The Government’s target of introducing Fiscal Responsibility legislation before the 2018-2019 fiscal year was yesterday praised by a civil society group, which said: “It’s worth getting it right.”