US regulator threatens top Bimini developer with $219k sanction
Bimini’s largest employer last night expressed “disappointment” that US regulators are threatening to fine it $219,000 for conducting unauthorised air carrier operations.
Miller: Union in ‘la la land’ over water deal
Leslie Miller yesterday slammed the Water & Sewerage Corporation’s management union for “living in la la land”, and pledged that the $8.9 million water supply deal with a BISX-listed company “will not be rescinded”.
Number portability puts ‘big spending’ 20% in Aliv’s reach
Aliv’s top executive yesterday said number portability’s imminent arrival would enable the new operator to penetrate the ‘big spending’ segment that accounts for up to 20 per cent of the Bahamian market.
Realtors: Bahamas near top of ‘economic hump’
Realtors yesterday predicted the Bahamas’ downgrade to ‘junk’ status will not impact the foreign second home market, amid “one of the busiest starts to the winter season for a long time”.
Ex-minister: Bahamas is ‘nowhere near’ junk
A former finance minister yesterday slammed Standard & Poor’s (S&P) ‘junk’ downgrade as unwarranted and premature because the Bahamas has “not reached the point of no return”.
SuperValue chief: Xmas rush ‘worse than for Matthew’
SuperValue’s owner yesterday described Christmas sales as “‘satisfactory”, telling this newspaper that the consumer rush was “worse than Hurricane Matthew”.
Retailers report mixed Christmas
Retailers yesterday reported a mixed Christmas sales performance, with some seeing strong demand and others suggesting that business was slightly down year-over-year.
Union’s threat to Water Corp deal
A trade union is threatening legal action over the Water & Sewerage Corporation’s $8.9 million water plant deal with a BISX-listed company, amid an outcry that Bahamian groups were not given a proper chance to bid.
Capital markets await $70-$100m in fund raisings
The Bahamian capital markets could see between $70-$100 million in fund-raising activity during the 2017 first quarter, an investment banker is predicting, with equity securities set to generate full-year returns of 10-15 per cent.
Sir Franklyn: ‘No positive spin’ for junk downgrade
A well-known businessman says “no positive spin” can be placed on the Bahamas’ junk downgrade, adding that it showed this country is failing to tackle long-standing structural weaknesses in its economy.
Govt warned: Don’t take all credit for jobs
The Government cannot take sole credit for the 31,735 jobs added to the labour force since its May 2012 election, the Chamber’s chief executive warning that businesses “cannot feel they are working just to pay taxes”.
Entrepreneurs challenged to exploit Bank’s rate cut
Sir Franklyn Wilson has questioned whether the Bahamas has sufficient entrepreneurial risk-takers capable of exploiting the Central Bank’s interest rate to create new businesses and jobs.
Airports critical to Out Island growth
Family Island airport development is essential to the overall growth of the Bahamian economy, a local aviation consultant telling this newspaper: “Build it and they will come.”
Bahamians can switch mobile carrier Feb 14
Consumer choice and competition have received a boost after regulators set February 14, 2017, as the launch date for mobile number portability in the Bahamas, accompanied by fixed penalties for non-compliant operators.
URCA struggles with early assumption of electricity regulation
The Utilities Regulation and Competition Authority (URCA) has effectively admitted that its “earlier than expected” takeover of energy regulation left it struggling to cope, amid a lack of technical expertise and human resources.
