Local Business


'Wake up, smell roses' over sanctions threat

The Attorney General yesterday warned the Bahamas to “wake up and smell the roses” over the threat of financial sanctions unless it corrects regulatory weaknesses.Carl Bethel QC told Tribune Business that this nation has until June to satisfy interna

Gov't needs 'high gear' to reverse corruption slide

THE Government was yesterday urged to “go into high gear” and deliver on its anti-corruption promises, after the Bahamas fell it its “lowest spot” in Transparency International’s rankings.Lemarque Campbell, of Citizens for a Better Bahamas, the local

DPM urges: Focus on Oban's benefits

THE Deputy Prime Minister yesterday urged Grand Bahama to look beyond the controversy and focus on the $5.5 billion Oban Energies project’s benefits, saying: “There’s more to the story than what you see.”K Peter Turnquest, addressing the 20th annual

Let Oban project move 'without sailing through'

THE Government should let Oban Energies’ $5.5 billion project proceed “without sailing through”, balancing job creation and growth with its chief promoter’s controversial background.Craig A. ‘Tony’ Gomez, the Baker Tilly Gomez accountant and partner,

Enterprises Act gives 'early success signs'

THE Commercial Enterprises Act is already showing “early signs” of success with the Government giving “favourable consideration” to two applications, it was revealed yesterday.K Peter Turnquest, Deputy Prime Minister, speaking at the 20th Grand Baham

LETTER: A 'Cable' to investors: Be Aliv to possible risk

IN March 2017, Aliv raised an astonishing $60 million from investors - twice the amount they were looking for. That they require more money now, less than a year later, suggests that something has gone badly wrong.This sudden need for funds has likel

Bahamas urged: Target H-1B visa for tech boost

THE Bahamas may need to implement an initiative similar to the US H-1B Visa programme if Grand Bahama is to fulfill its ‘technology hub’ dream, it was argued yesterday.The US initiative facilitates the hiring of specialist foreign workers and entry o

Attorney: Tie education to industry development

A GRAND Bahama-based attorney yesterday suggested that “industry-targeted” education programmes be established ‘in tandem’ with the island’s development of local industries.Erica Paine, head of Graham Thompson’s Grand Bahama office, while addressing

Managing the cycle of worker progress

MANY leaders and managers agree that the most effective way to increase productivity and efficiency is to ensure performance management instruments are being used effectively in their companies. At its most basic, performance management is an ongoing

Stop 'looking in mirror' on fiscal blame game

The Government was yesterday urged to “get past looking in the mirror”, as it again blamed the Christie administration’s “overhang” for exceeding the prior year’s fixed-cost spending.Gowon Bowe, the Bahamas Institute of Chartered Accountants (BICA) p

Lawsuit threat to $5.5bn oil refinery

THE $5.5 billion Oban Energies oil refinery project was last night threatened with legal action, with the controversy involving its principals described as a “wake-up call” for the Prime Minister.Fred Smith QC, the Freeport-based attorney, told Tribu

50% capital spend cut drives $92m deficit fall

THE Government’s struggles with its fixed costs resulted in a half-year deficit equivalent to 61 per cent of the full-year target, forcing it to cut capital outlays by 50 per cent to restrain spending.K P Turnquest, deputy prime minister, in unveilin

Gov't mulls pre-election hire and spending freeze

THE Government is mulling the imposition of a deficit ‘ceiling’ and ‘cap’ on recurrent spending growth, the Deputy Prime Minister revealed yesterday.K Peter Turnquest said temporary hiring freezes, together with limits on capital projects above a cer

Central Bank teams with BIA on Internet processing portal

THE Central Bank is working with the Bahamas Investment Authority (BIA) to create a single electronic Internet portal for foreign investment processing, the Central Bank’s Governor said yesterday. “We are also liaising with the Bahamas Investment Aut

$100m BOB bail-out borrow won't hit deficit

THE Government’s newly-announced $100 million borrowing to facilitate the Bank of the Bahamas bail-out will not add to this year’s deficit, a top official said yesterday.Marlon Johnson, the Ministry of Finance’s acting financial secretary, told Tribu