Local Business


‘Not everyone’ made whole on Baha Mar

The Bahamian construction industry was yesterday “cautiously optimistic” that a resolution to its collective $74 million Baha Mar receivable is in sight, although “not everyone” will be made ‘whole’.

Govt avoids ‘pie in the sky’ Budget

The Government appears to have avoided the “typical pie in the sky” pre-election Budget, the Chamber of Commerce’s chairman said yesterday, while conceding: “The numbers may tell a different story.”

Govt’s Baha Mar deal ‘muddies sale process’

The Government’s purported deal with the Chinese for Baha Mar’s construction completion has only “muddied and confused” the situation further, an ex-Board member yesterday suggesting they were taking a ‘backwards’ approach to resolving the impasse.

Real property tax amnesty branded ‘counter-intuitive’

The Opposition’s deputy leader yesterday slammed the Government’s frequent real property tax arrears amnesties as “counter-intuitive”, arguing that they effectively penalised compliant home and business owners.

Financial firm bucks ‘contraction’ trends

A Nassau-based financial services provider yesterday said it was “bucking the trend” of contraction in the Bahamian financial services sector with the launch of its own private bank and trust subsidiary, its chairman telling Tribune Business: “It simply gives us less competition”.

IAN FERGUSON: How to minimise workplace conflict

When we consider the length of time we spend in the workplace, and the many different personalities we encounter, it is not surprising that we come into occasional conflict.

FNM deputy slams Gov’t on apprentice initiative

The Opposition’s finance spokesman yesterday said it was “disingenuous” for the Christie administration to tout its $20 million apprenticeship programme as something different than the 52-week job programme launched by the former Ingraham administration, and which it had heavily criticised.

PM cuts 2016 GDP growth to just 0.5%

Prime Minister Perry Christie yesterday slashed a full percentage point off the Bahamas’ projected economic growth for 2016, cutting real GDP expansion estimates to just 0.5 per cent.

Govt raises deficit estimate to $100m

The Government yesterday forecast a more modest pace for fiscal consolidation, projecting a higher $100 million GFS deficit for the upcoming 2016-2017 Budget year compared to its estimates a year ago.

BOB two years from profitability

Prime Minister Perry Christie yesterday revealed it will take a further two years for Bank of the Bahamas to return to profitability, as he confirmed plans to recapitalise the troubled institution.

PM: Atlantis makes granting Chinese demands impossible

The Prime Minister yesterday said Atlantis’s ‘most favoured investor’ status made it impossible for him to grant the type of incentives the Chinese were said to be demanding over Baha Mar.

Second mobile operator begins launch process

Cable Bahamas yesterday said the clock had started running on the aggressive roll-out timetable for the second mobile operator to launch services to 99 per cent of New Providence within three months, after the Government approved its licensing.

‘Nothing to celebrate’ on $99m borrowing

The Opposition yesterday argued there was “nothing to celebrate” in the Christie administration’s revelation that it is only borrowing $99 million to fund the 2016-2017 fiscal deficit, its finance spokesman saying it had over-burdened Bahamians with taxes to achieve this.

Revived Mortgage Plan may assist ‘over 1,000’

The Government yesterday unveiled a revised Mortgage Relief Plan it believes could assist “upwards of 1,000 delinquent borrowers”, via a 20-25 per cent cut to monthly loan payments.

Tax break may help 41,000 homeowners

Prime Minister Perry Christie yesterday said more than 41,000 homeowners could benefit from the Government’s decision to waive real property tax arrears for owner-occupied homes valued at less than $250,000.