Local Business


Defendants face ‘onus of proof’ on foreign tax fraud

Reforms to the penal code will place the “onus of proof” on foreign residents of The Bahamas to demonstrate they have not defrauded overseas governments, Cabinet ministers said yesterday.

Fisheries suffers ‘rift’ on non-Bahamian workers

A fisheries industry “rift” has been exposed over arguments that over 1,000 persons will be hurt, and up to $8m lost, if planned legal reforms stop foreign nationals working on Bahamian-owned boats.

‘Tragic and ironic reality’ over expat fisheries workers

A BAHAMIAN fisherman last night confirmed the long-standing “split” with the sector’s major wholesalers and processors over what he described as “a tragic and ironic reality”.

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Union leader urges: Avoid labour unrest at all costs

A TRADE union leader yesterday said he had informed his colleagues that industrial action in any form must be avoided until the Bahamian economy fully recovers from COVID-19.

GB hotelier: ‘We need something to go our way’

A MAJOR Grand Bahama hotelier yesterday said his property is losing between $200,000 to $300,000 per month, as he lamented: “We need something to go our way.”

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Oil opponents deny ‘malice’ motivation

A prominent QC yesterday blasted suggestions by Bahamas Petroleum Company (BPC) shareholders that opposition to the company’s oil prospecting was driven by “malice”.

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PI resort to open after ‘abnormal last few months’

A MAJOR Paradise Island resort has confirmed it will re-open on December 10 after several “abnormal” months as the US eased its COVID-19 warnings on travel to The Bahamas.

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Governance reformer: DPM must ‘make call’ over claims

A governance reformer last night said the deputy prime minister will have to “make the call” with the Prime Minister as to whether the $27m “bogus loans” accusations will become too big a distraction.

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Minister and MP out as $2.4m claim defendants

A CABINET minister and current MP have been removed as defendants to a $2.405m unfair dismissal claim brought by the Water & Sewerage Corporation’s former general manager.

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Aliv addresses 50% data demand growth

Aliv’s top executive says the COVID-19 pandemic has driven a 50 percent increase in data demand as it works on finalising a $70m loan from its controlling shareholder.

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Grand Lucayan deal merits under review

Consultants have been hired to review the Grand Lucayan deal’s merits amid growing doubts that it now delivers the promised benefits to the Bahamian people, Tribune Business can reveal.

Liquidator concern on $8m taken from collapsed broker

A Bahamian broker/dealer’s liquidator has voiced concern that its majority shareholder and then-senior management removed over $8m in the two-and-a-half years prior to its insolvency.

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Abaco to meet Gov’t on ‘number one issue’

ABACO’s private sector is scheduled to meet with the Government today to resolve the “number one question” that is the fate of the island’s post-Dorian Special Economic Recovery Zone.

‘Abandoned’ Sky staff claim $740,000 owed

Some 40 former Sky Bahamas employees will appear before the Industrial Tribunal today claiming that the former airline has “totally abandoned” them and the collective $740,000 it owes.

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Bitcoin – The new gold or another supernova moment?


By the current year’s standards, 2017 was pretty average.