$4.5bn oil refinery for Grand Bahama
THE Government is said to be “embracing” a potential $4.5 billion oil storage terminal and refinery planned for east Grand Bahama, Tribune Business can reveal.Details of the Oban Energies project are buried in a recent presentation by the Central Ban
Juice drink producers: 'Impossible to compete'
BAHAMIAN juice drink manufacturers yesterday said they were still exploring ways to combat the 50 per cent tariff slash for rival imports, one telling Tribune Business: “It’s not difficult to compete; it’s impossible”.Mervin Sweeting Jr, president of
Gov't causes GB Power 'concern' over buy-out
GB Power and its majority investor have admitted to “concerns” over the Deputy Prime Minister’s suggestion that the Government will further review the already-approved $35 million buy-out.Archibald Collins, the Bahamian utility’s chief executive, in
Marinas to 'fly flag' at US boat shows
LOCAL marinas have pledged to “fly the Bahamian flag” at six major US boat shows over the next five months, as this nation bids to become the main offshore location for American boaters. Having just participated in the Fort Lauderdale International
Bahamas eyes $8.1m boost from new airlift
THE Bahamas is expected to gain 19,000 room nights and $8.1 million in annual extra visitor spend through the start of weekly non-stop airlift from Germany.Condor’s service from Frankfurt to Nassau made its return on Monday evening following a nearly
Silver Airways confirms halt to Bimini services
SILVER Airways yesterday said it was working with Bahamian authorities to resume flights into Bimini “as quickly and safely as possible”, confirming it had suspended operations due to an inoperable fire truck.Misty Pinson, director of public relation
Auto dealers: 'God help us' if 30% fall persists
New car dealers yesterday expressed “grave concern” over the 31.17 per cent third quarter sales decline, warning: “God helps us if this trend continues into 2018.”Fred Albury, the Bahamas Motor Dealers Association’s (BMDA) president, told Tribune Bus
Arawak port predicts near-$3m profit fall
ARAWAK Port Development Company (APD) was 11 per cent ahead of profit projections for its 2018 first quarter, despite forecasting a near-$3 million decline for the full-year.The BISX-listed Nassau Container Port (NCP) operator revealed in its annual
'Put our house in order' before WTO
The Government was yesterday urged to “put our house in order first” and remove the competitive disadvantages facing Bahamian businesses prior to joining the World Trade Organisation (WTO).Robert Myers, a principal with the Organisation for Responsib
Top cruise port operator eyes Nassau takeover
The world’s largest cruise port operator is in talks with the Government to take over management and operations at downtown Nassau’s Prince George Wharf.The approach by UK-based Global Ports Holding was confirmed by its potential joint venture partne
GB Power buy-out’s threat to ‘preferential tax benefits’
THE $35 million GB Power buy-out was yesterday branded “financially catastrophic” for Bahamian investors, an outspoken QC arguing they will will “lose their preferential tax position”.
Gov't targets full WTO membership by 2019
The Minnis Cabinet has approved an “aggressive” push for the Bahamas to become a full World Trade Organisation (WTO) member by 2019.Brent Symonette, minister with responsibility for trade and industry, confirmed to Tribune Business that the WTO proce
Fire truck woes ground Bimini
THE Minister of Tourism has estimated “way in excess of $200 million” is required to upgrade the 28 Out Island airports, as fire safety woes grounded Bimini’s tourism economy.Dionisio D’Aguilar told Tribune Business that Silver Airways was currently
Bahamas 'behooved' to eye corporate tax
THE Bahamas has been urged to assess the feasibility of a corporate income tax without being forced into it by the Organisation for Economic Co-Operation and Development (OECD).Tanya McCartney, the Bahamas Financial Services Board’s (BFSB) chief exec
Brent: 'Days of not playing ball are over'
A Cabinet Minister has pledged that the Bahamas will no longer be “behind the game” on financial services compliance, adding: “The days of not playing ball are over.”Brent Symonette, minister of financial services, trade and industry and Immigration,
