Local Business


PI resort, development escape tax debt sell-off

A Paradise Island resort and Long Island investment project are among those that have escaped being sold-off by the Government through settling their alleged real property tax delinquency.

Bank’s Out Island sites ‘a philanthropic service’

Bank of The Bahamas’ top executive yesterday described its Family Island presence as an act of “philanthropy” amid complaints that woes at its branch have left south Eleuthera in “a dire situation”.

Adapt to tourist profile so we ‘blow past’ 2019

Family Island hotels must adapt to a visitor demographic profile that has been flipped upside down over the past decade if they want to “blow past” pre-COVID numbers, a top tourism official is warning.

PI hotel project’s 100 ‘permanent’ job pledge

A development that aims to be Paradise Island’s “first new hotel for many years” yesterday said its project will create 100 permanent jobs and a similar number of construction posts.

No consumer respite despite inflation ease

As the tide of inflation in The Bahamas seems to be ebbing, it prompts reflection on what this means for the average Bahamian’s wallet.

PM says ‘black hole’ east of East Street

The Prime Minister yesterday branded the section of downtown Nassau east of East Street as “a black hole” for The Bahamas even though it contains some of New Providence’s most valuable real estate.

PM dismisses fears GBPA battle will ruin investment

The Prime Minister yesterday dismissed concerns that the escalating battle with the Grand Bahama Port Authority (GBPA) over the Government’s $357m payment demand will ruin investor confidence.

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Now-Cabinet minister wins just 14.5% of union claim

A SUPREME Court judge has awarded a now-Cabinet minister just 14.5 percent of the compensation he was seeking over a breach of contract battle with the Bahamas Union of Teachers (BUT).

Contractor chief challenges ‘short sighted’ stadium deal

THE Bahamian Contractors Association’s (BCA) president yesterday argued it was “short-sighted” not to ensure the national stadium’s overhaul involves skills and knowledge transfer by the Chinese.

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Ex-civil service union boss: I urged pension reform two decades ago

A FORMER union leader says he recommended that civil service pensions be made contributory almost two decades ago as financial analysts warned “it’s all coming home to roost” over a forecast $3.5bn hole.

‘Total incompatibility’: But $100m project forges on

AN Exuma-based developer says it is pursuing all necessary approvals for a $100m project that has forced a neighbouring resort to place its development plans on hold and raised environmental concerns.

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Dealers: Used car sales up 30% with ‘level playing field’

AUTO dealers yesterday argued they could increase their used car sales by up to 30 percent if the authorities enforce a competitive ‘level playing field’ with roadside vendor rivals.

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Residents voice objections to new PI resort proposal

RESIDENTS last night argued that plans to transform the former Paradise Harbour Club site into a seven-storey hotel represent an “overdevelopment” that will impact quality of life and devalue their properties.

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FNM claims govt broke law on finance

THE Opposition’s finance spokesman yesterday challenged whether the Government may have violated public finance laws by drawing on $133m from its “sinking funds” to pay debts coming due.

Soaring boat insurance ‘huge cost’ to Bahamas

ASTRONOMICAL boat insurance costs are having a “huge” impact on Family Island hotels and marinas through shortening the tourism season by a month and leaving many “empty” over the summer.