Aliv in ‘phenomenal position’ financially
The Bahamas’ new mobile operator is in “a phenomenal position” financially, having secured $186 million in start-up funding prior to this week’s planned capital raising.
BORCO gains US court help on $23m claim
The Bahamas Oil Refining Company (BORCO) has obtained US judicial permission to serve subpoenas on a marine accident investigator and his firm, as it pursues a $23 million claim in the Supreme Court.
Govt urged: ‘Don’t penalise all firms’
The Government has been urged not to “penalise” all businesses for the actions of a few through its labour reforms, the Chamber’s chairman calling for longer term employee safeguards to be put in place.
$50m capital raising comes Aliv next week
The Bahamas’ new mobile operator will bring a $50 million capital raising ‘Aliv’ next week, its advisers yesterday predicting “a very successful offering”.
Chamber pledges last ditch ‘appeal’ on labour reforms
The Chamber of Commerce is preparing a last-ditch appeal to the Government to withdraw and “reconsider” its labour law reforms, with “not one employer” yesterday said to be in favour of the changes.
Labour chief dismisses ‘ultra vires’ concerns on law amendments
The Director of Labour yesterday said there was “no basis” to the Chamber of Commerce’s assertion that the labour law reforms were “ultra vires” because they had not been unanimously approved by all National Tripartite Council (NTC) members.
FNM deputy: Labour law reforms could ‘unbalance’ economy
The FNM’s deputy leader yesterday warned that the Government’s latest labour law reforms threaten to upset the delicate balance between protecting Bahamian workers and the need for jobs and economic growth.
Water Corp’s bill to BISX-listed supplier up 134%
The Water & Sewerage Corporation owed an $11 million receivable to its main, BISX-listed water supplier at year-end 2016, it was revealed last night, although the latter’s revenues were down $1.5 million year-over-year.
IAN FERGUSON: Leading away from a generational clash
Millennials and younger generations of leaders are increasingly finding themselves managing departments with older persons serving under them.
Minnis slams Govt’s ‘stunning ineptitude’
The Free National Movement’s (FNM) leader yesterday accused the Government of “stunning ineptitude” in its fiscal policies, with the debt-to-GDP ratio now at 78 per cent despite $1 billion-plus in VAT revenue collections.
Spanish Wells hopes Commonwealth will fill the RBC vacuum
The Spanish Wells community would be “only too glad” to have a Bahamian-owned institution fill the void created by the Royal Bank of Canada’s (RBC) imminent pull-out, with Commonwealth Bank sending a delegation to the island recently.
Bahamas in $40m foreign property buyer ‘outflows’
The Bahamas has suffered two consecutive years of $40 million-plus net real estate outflows due partly to the exit of foreign buyers, the Central Bank’s governor confirmed yesterday, with inward investment flows falling to $163.2 million in 2016.
Bahamas ‘nears a socialist state’
The Bahamas “is becoming a socialist state”, an outspoken FNM candidate said yesterday, blasting the Government’s decision to move ahead with controversial labour law reforms as “madness”.
Chamber: Labour law reforms may be ‘ultra vires’ Act
The Chamber of Commerce last night reiterated concerns that the National Tripartite Council (NTC) may have violated its own founding Act by failing to get “unanimous” agreement on the controversial labour law reforms before they were tabled in the House of Assembly yesterday.
Businesses ‘crippled’ by 2/3 redundancy pay rise
Outraged Bahamian employers yesterday slammed the Government’s decision to press forward with union-friendly labour law reforms, including a 67 per cent increase in redundancy pay, as “crippling” individual businesses and the wider economy.
