Local Business


Tease photo

BPL fears Gov't borrowing strike for $535m raise

Bahamas Power & Light (BPL) is "concerned" it will be forced to pay a high price to place its $535m bond issue due to the Government's recent borrowing, a Cabinet minister has revealed.

Tease photo

Supplier 'crossed line' on Eleuthera water shutdown

A Cabinet minister yesterday blasted a water plant operator for "endangering the lives of Bahamians" by cutting off supply to central Eleuthera residents due to a dispute with the Water & Sewerage Corporation.

Tease photo

Bahamas misses over marine genetics share

The Bahamian people are earning nothing from foreign exploitation of this nation's marine genetic resources that has produced over 100 "new natural products", a report has revealed.

Lyford Cay wages equal $3k to all Nassau families

Lyford Cay's annual wage bill generates the equivalent of $2,858 for every New Providence household as part of a total $453m economic impact, a government-appointed committee has revealed.

Realtor chief 'annoyed' over tax hike proposals

The Bahamas Real Estate Association's (BREA) president yesterday admitted she was "a little annoyed" that proposals have been made to increase taxes related to the sector without its input.

'Curb-side killing construction': 40% productivity decline

An ex-Bahamian Contractors Association (BCA) president yesterday said the sector had suffered a 30-40 percent productivity fall due to COVID-19 restrictions, adding: "Curb-side is killing construction."

Bahamas to eliminate abuse by tax dodgers

The Bahamas will eliminate all opportunities for tax dodgers to abuse its financial system by year-end 2020 with the launch of its Tax Residency Certificate (TRC), a Cabinet minister said yesterday.

Tease photo

Recovery strategy exposes 'lost years'

The Economic Recovery Committee's (ERC) report is an admission The Bahamas has "wasted three to four years" that may have given it a head-start on COVID-19 recovery, a top banker said yesterday.

Tease photo

Bahamas faces 'now or fail' predicament

The Economic Recovery Committee's (ERC) co-chair yesterday said none of its proposals will cure The Bahamas' ills by themselves, amid warnings that the country must "reform now or fail".

Tease photo

Gov't urged to 'double' $50m SME funding

The Government was yesterday urged to double the $250m it plans to invest in small businesses over the next five years by removing restrictions on foreign participation in these entities.

Tease photo

DPM: Bond attacks 'pie in sky thinking'

The deputy prime minister yesterday slammed arguments that The Bahamas' $600m bond issue was over-priced as "pie in the sky thinking" while revealing $133m in debt repayments have been delayed.

Tease photo

Recovery Committee: 'No sound ideas' for Freeport

The Economic Recovery Committee's report was yesterday blasted by a Freeport-based attorney for failing to propose a single idea for boosting Grand Bahama's economic growth.

Increase food output 'eight-fold' to $1.2bn

The Government was yesterday urged to adopt the "ambitious goal" of increasing the agriculture and fisheries' sectors' combined output "eight-fold" to $1.2bn over the next decade.

$100m condo project to start in Spring 2021

A Bahamian developer yesterday said it plans to begin construction on a $100m high-end oceanfront condominium complex at Cable Beach in Spring 2021.

Grant plan's $450,000 for 100 Dorian victims

More than 100 Grand Bahama entrepreneurs have been awarded a collective $450,000 in Dorian restoration funding during a five-month Small Business Recovery (SBR) grant initiative.