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
Cable unveils dividend restart within one year
CABLE Bahamas expects its growth strategy to start paying off for shareholders in less than a year’s time, although it is “not fully satisfied yet” with the returns generated.The BISX-listed communications provider told investors in its newly-release
Gov't faces $900m climate change bill
THE Government has estimated it faces a $900 million bill to mitigate climate change under the United Nations (UN) framework, with the Bahamas facing “accelerated vulnerability” to natural disasters.The scale of the economic and environmental danger
Fly fish chief warns on 'special interests'
THE Bahamas Fly Fishing Industry Association’s (BFFIA) president yesterday accused “special interests” of pressuring the Minnis administration to repeal the sector’s recently-enacted regulations.Prescott Smith confirmed to Tribune Business that “a re
Port operator targets cruise ship expansion
THE Nassau Container Port (NCP) yesterday said it plans to allocate $7.5 million to capital projects and debt repayment, as it eyes diversification into cruise ship services.Michael Maura, chief executive of port operator, Arawak Port Development Com
Realtor partners with Florida airplane firm
A BAHAMIAN real estate firm is teaming up with a Florida-based seaplane outfit to allow clients to explore options throughout the Bahamas “in style”.Gavin Christie, C.A. Christie Real Estate’s managing partner, yesterday told Tribune Business the fir
Morton Salt resumes 'limited operations'
MORTON Salt, Inagua’s largest employer, has resumed “limited operations” following the damage inflicted by Hurricane Irma, Tribune Business was told yesterday.The company, in a statement via its spokesman, Paul Jackiewicz, said: “The Morton Bahamas p
Regulatory uncertainty 'stunts' Bay Street revival
DOWNTOWN Nassau’s revival is being “stunted” by regulatory confusion that is deterring potential developers and financiers, a senior realtor warned yesterday.Charles Christie, C. A. Christie Real Estate’s president, said zoning restrictions - especia
Gov't told: Don't stall on $70m Aliv sell-off
The Government has been warned it will lose investors if it stalls for too long on the $70 million sell-off of its Aliv majority shareholding.Gowon Bowe, one of the proposed private placement’s advisers, told Tribune Business it was vital to maintain
