AG probes Schooner Bay 'legal breaches'
The Attorney General yesterday revealed he has sought a legal opinion over complaints that Schooner Bay’s foreign developer is violating Bahamian real estate laws.Carl Bethel QC confirmed to Tribune Business he had asked his director of legal affairs
Ministry brands ex-Miss Bahamas' claim 'not valid'
THE Ministry of Tourism believes a former Miss Bahamas Universe-turned-songstress has “no valid case” against it for breach of copyright and a $130,000 employment contract.Dionisio D’Aguilar told Tribune Business that his Ministry’s officials were ad
Gov't 'concerned' GB Power buy-out against wealth goal
THE Government last night admitted it was “concerned” that the GB Power Company buy-out is contrary to its ambition of creating wealth and investment opportunities for Bahamians.Its position was revealed as Canadian utility giant, Emera, informed Bah
Govt's mixed message danger on labour laws
THE Government has been warned it could undermine its own efforts to spark economic growth by sending mixed messages over further labour law reforms.Michael Maura, the Bahamas Chamber of Commerce and Employers Confederation’s (BCCEC) chairman, told T
No tourists makes Junkanoo Carnival a 'wealth recycler'
Bahamas Junkanoo Carnival must generate increased tourism spending otherwise it will merely amount to wealth redistribution within the local economy, a University of the Bahamas (UoB) economist argued.Rupert Pinder, addressing the Rotary Club of West
Fishers Alliance makes conch protect proposals
A BAN on conch exports could stem the Bahamas’ conch population decline, the Commercial Fishers Alliance’s (BCFA) president yesterday disputing the reported 80 per cent fall. Adrian LaRoda told Tribune Business that such a ban was one of several prop
Farm eviction exposes Schooner Bay bust-up
An Abaco couple have slammed Schooner Bay’s “arrogance” in evicting them from their farm in a dispute stemming from the controversial licencing of 100 Crown Land acres to a foreign developer.Glen Kelly told Tribune Business that agents for the south
AG opinion sought on Schooner Bay's Crown Land licence
A FORMER investments minister says he sought a legal opinion from the Attorney General’s Office on the Schooner Bay developer’s obligations under its 100-acre Crown Land license.Khaalis Rolle, who held that post under the former Christie administrati
Appeal Court blasts QC on deal 'conflict'
A PROMINENT QC has been blasted for failing to disclose his ‘conflict of interest’ over a real estate transaction involving a “sometime client” serving a 15-year prison sentence.The Court of Appeal found Elliot Lockhart QC had failed to inform Cliffo
80% conch drop threatens lives of 9,000 fishermen
THE livelihoods of more than 9,000 Bahamian fishermen and their families are under threat from the 80 per cent conch population decline since the 1980s, it has been revealed.An Inter-American Development Bank (IDB) report, accompanying a $500,000 pro
Fiscal Responsibility 'litmus test' of Govt's reform commitment
THE implementation of Fiscal Responsibility legislation is “the litmus test of just how serious this government is”, the Chamber of Commerce’s chairman urging: “Show us we have a future.”Michael Maura told Tribune Business that shrinking the Bahamas’
Unlocking Eleuthera's rich history and culture
There is no doubting the treasures of Eleuthera and Harbour Island, which are found in their miles of coastline, pink sand beaches, sweet pineapples and unique architecture. While rich in history, the island offers an even greater learning experience
DPM: Bahamas must ‘prove’ itself to S&P
* ‘Not at all’ upset nation still ‘junk’ * Blames former Govt’s failure to deliver * Nation has 12-24 months to execute
The Government must “prove” it can deliver on its fiscal and economic turnaround strategy, the Deputy Prime Minister admitted yesterday, after Standard & Poor’s (S&P) kept the Bahamas at ‘junk’ status. K P Turnquest told Tribune Business he was “not at all” disappointed at the outcome of S&P’s annual review of the Bahamas’ sovereign creditworthiness, despite having previously expressed optimism that the Government could make the case to be upgraded to ‘investment grade’ status.
Development Bank fund ‘sinking’: Covers 1/3 of $46m bonds
* Just 28.4% of loans ‘performing’ * Accumulated losses over $60m * Solvency deficiency at $31.31m
THE Bahamas Development Bank’s (BDB) ‘sinking fund’ covered just one-third of its $46 million outstanding bond debt at year-end 2016, with only 28.4 per cent of its loans ‘performing’. The BDB’s 2016 financial statements, tabled in the House of Assembly in Wednesday by the Prime Minister, reveal the parlous state of another state-owned enterprise (SOE) that has racked up more than $60 million in losses for the Bahamian taxpayer during its 43-year existence.
‘No cause for celebration’ over S&P breathing room
* Bahamas ‘still has to climb out of hole’ * But Chamber chief ‘fully expects’ 2018 upgrade * Many Bahamians don’t realise reform ‘gravity’
PRIVATE sector executives yesterday said the Bahamas has “no cause for celebration yet” after Standard & Poor’s (S&P) elected not to further downgrade its sovereign creditworthiness.
