PM confirms secret energy bid process
The Opposition yesterday demanded full disclosure from the Government, after Prime Minister Christie confirmed the existence of a secret bidding process to improve Bahamas Power & Light’s (BPL) electricity supply.
Ex-minister slams ‘incredible’ broke Treasury claims
A former finance minister has branded as “incredible” FNM claims that the Public Treasury is broke, warning that this does a disservice to whoever is elected as the Bahamas’ next government.
Carnival bands estimate 1,000 reveller ‘no show’
Bahamas Junkanoo Carnival participants yesterday said there was “no denying” that the postponement debacle had impacted this year’s event, estimating that “no less than 1,000” revellers did not attend as a result.
Minnis’s tax break plan ‘may come back to bite’
A former finance minster has warned that Dr Hubert Minnis’s Over-the-Hill tax break plan “may come back to bite”, as the main beneficiaries will be “wealthy absentee landlords”.
Appeal Court criticised on $700k insurance claim
The Privy Council yesterday expressed “the strongest reservations” over the Bahamian Court of Appeal’s failure to properly interpret an insurance contract in overturning a verdict that required RoyalStar Assurance’s predecessor to pay out a $700,000 claim.
LOI firm holding to Stellar project
The company at the centre of the Renward Wells Letter of Intent (LOI) controversy yesterday said it had not given up on its $650 million waste-to-energy solution for the New Providence landfill, and pledged to market it to the next administration.
BISX share index in first quarter fall
Securities listed on the Bahamas International Securities Exchange (BISX) had a collective worth of just under $5 billion at end-March 2017, even though its market indice declined slightly year-over-year.
World Cup boosts Bahamas tourism
The Bahamian tourism industry and wider economy have been boosted by the hundreds of visitors who descended on Nassau for the FIFA Beach Soccer World Cup 2017.
BOB in legal battle with Central Bank
Bank of the Bahamas (BOB) is seeking Supreme Court protection from the Central Bank, with the regulator demanding an “immediate” $50 million increase in loan loss provisions and legal action against “politically exposed” bad borrowers.
Govt in secret BPL generation bid move
The Government has quietly been soliciting bids to provide Bahamas Power & Light (BPL) with improved generation capacity, but without the knowledge of either the company itself or its PowerSecure manager.
Sir Franklyn denies FOCOL involved in BEC generation bid
Sir Franklyn Wilson yesterday “categorically” denied that FOCOL Holdings was involved with any bid to provide improved electricity generation for Bahamas Power & Light (BPL).
Govt gives Freeport new ‘11th hour’ stay
The Government has been urged to provide Grand Bahama Port Authority (GBPA) licensees with “certainty”, after it gave them another two-month extension to apply for renewal of key tax breaks AFTER the previous deadline expired.
Ex-minister: VAT break ‘inherited’ from Sarkis
Baha Mar’s new owner will likely have “inherited” its Value-Added Tax (VAT) exemptions from Sarkis Izmirlian, a former finance minister saying “any developer worth his salt” would have sought protection from new taxes.
NHI fee structures to evolve over time
National Health Insurance’s (NHI) project manager says laboratory and pharmaceutical services will be rolled-out over the next few weeks, with the fee structure for service providers ultimately changing over time..
QC: Cruise port signing ‘politically irresponsible’
A well-known QC has slammed as “politically irresponsible” the signing of the Heads of Agreement for Carnival’s $100 million east Grand Bahama cruise port a week ahead of the general elections, arguing there had been no public consultation over the project.
