Poor governance undermined Bahamas Power and Light
POOR governance practices are the primary the reason for Bahamas Power and Light’s (BPL) failures, its chairman said yesterday.Darnell Osborne, who was addressing a corporate governance seminar hosted the Bahamas Chapter of the Institute of Internal
Gov't 'can't say' how much spent on NHI
The Minister of Health “cannot say” how much the Christie administration spent on National Health Insurance’s (NHI) launch, saying only: “It’s more than $100 million.”Dr Duane Sands acknowledged that many Bahamians will be amazed the Government canno
Bahamas needs 'material change' on business ease
THE Bahamas Financial Services Board’s (BFSB) chief executive yesterday urged this nation needed to engineer “a material change” in its ‘ease of doing business’ standing.Tanya McCartney, speaking after the Bahamas moved up two spots to 119th in the W
Baha Mar unveils its $25m marketing push
BAHA Mar yesterday unveiled its $25 million marketing campaign to drive new year demand, telling Tribune Business it was eyeing a “very strong 2018”.Graeme Davis, Chow Tai Fook Enterprises (CTFE) Bahamas president, told Tribune Business: “This specif
Business ease: DPM wants to catch Jamaica
THE Deputy Prime Minister yesterday said he wants the Bahamas to match Jamaica’s 70th ‘ease of business’ ranking “in the shortest time possible”, but admitted: “It won’t be overnight.”K P Turnquest told Tribune Business he was under “no illusions” ab
Olympian in dispute on Sebas's radio licence
AN Olympic medallist yesterday denied he had engineered a “hostile takeover” of a radio station to transfer its licence to a firm owned by Island Luck chief, Sebas Bastian.Frank Rutherford, the Bahamas’ first track and field Olympic medallist, told T
US tobacco firm to create 50 jobs in Grand Bahama
UP to 50 new jobs will be created by mid-2018 through a US tobacco manufacturer establishing its overseas hub in Grand Bahama, it was disclosed yesterday.Wind River Tobacco Company, in a joint announcement with the Government, said the island would b
'The bleeding's stopped' on doing business ease
The private sector yesterday warned the Bahamas “can’t jump through hoops” over its rise in the World Bank’s ‘ease of doing business’ index, even though its 119th position means “the bleeding’s stopped”.Edison Sumner, the Bahamas Chamber of Commerce’
GB Power 'mining' $600k savings via preference payout
GRAND BAHAMA Power Company will slash annual debt servicing costs by $600,000 through redeeming 43 per cent of its preference shares, with the benefits passed on to consumers.The utility, in e-mailed responses to Tribune Business questions, said Dece
Bahamas faces 'enormous' task over ease of business
A CABINET Minister yesterday admitted the Bahamas faces an “enormous” task to improve its ‘ease of doing business’, adding: “Our economic survival hinges on it.”Dionisio D’Aguilar, minister of tourism and aviation, told Tribune Business that the Baha
Gov't urged to improve 'God awful' tax credits
THE Government was yesterday urged to improve the “God awful” delays and bureaucracy encountered in obtaining tax credits and refunds.Robert Myers, a principal with the Organisation for Responsible Governance (ORG), told Tribune Business that the Min
Week's 'breathing room' for BTC worker dispute
THE Bahamas Telecommunications Company (BTC) has given technicians an extra week to review their new employment terms, lifting - at least temporarily - its threat to terminate 70 workers.Robert Farquharson, director of labour, yesterday confirmed tha
No decision over fly fish regulation repeal
THE Government has made no decision on repealing the fly fishing regulations, although the Prime Minister’s press secretary yesterday confirmed several industry members had presented on the issue.Anthony Newbold, during his weekly press briefing, sai
Colina earns top strength ratings
COLINA Insurance has seen its financial strength and creditworthiness confirmed by the global insurance industry’s main rating agency.A. M. Best affirmed the life and health insurer’s A- (Excellent) financial strength rating, and ‘a-’ long-term issue
Gov't pays '3x' value of BOB's toxic loans
Bank of the Bahamas’ (BOB) latest bail-out has cost Bahamian taxpayers more than three times’ the net value of toxic loans purchased from the stricken BISX-listed bank. The full-year 2017 accounts, released yesterday, reveal that the Government paid
