Private sector to tackle business ease ‘head on’
The private sector aims to tackle the Bahamas’ declining ‘ease of doing business’ rankings “head on” next month when all this nation’s Chambers of Commerce gather for their annual conclave.
Web shop fears 150 Bahamian job losses
A web shop operator is warning that 150 Bahamians will be made jobless if the Grand Bahama Port Authority (GBPA) makes good on its threat to cancel its Freeport license.
Minister denies Customs broker link to Baha Mar
A Cabinet Minister yesterday vehemently denied that his family’s company was one of Baha Mar’s main Customs brokers, refuting reports made to Tribune Business in January 2017 by former resort employees.
‘Something better than nothing’, says victim of CLICO
A prominent CLICO (Bahamas) policyholder yesterday said he was “willing to take crumbs from the table”, after the Government restructured planned payouts to fully compensate 70 per cent of ‘surrender’ victims by November 2017.
Just eight days for landfill bids
The Government has given private sector groups just eight days to submit bids to takeover the New Providence landfill’s management and remediation, a deadline that was yesterday described as “silly” and “ridiculous”.
20% fare rise to keep taxis ‘above water’
Taxi drivers yesterday said the imminent 20 per cent “across the board” fare increase will help to keep them “above water”, the move marking the first rise for almost eight-and-a-half years.
BPL launches grid tie-in for renewables
Bahamas Power & Light (BPL) has announced the start of renewable energy grid tie-ins for residential customers, although per island limits are being imposed on the total amount that can be supplied.
Air Traffic sick-out: 19 matters resolved
The Director of Labour yesterday said he was “extremely confident” that all outstanding issues raised by the Bahamas Air Traffic Controllers Union (BATCU), which resulted in the ‘sick-out’ at the start of the Easter holiday weekend, had been “put to rest”.
‘We had to take Govt at their word on VAT’
The private sector “could have fought harder” for Fiscal Responsibility-type legislation and rules, a well-known businessman has conceded, but “had to take the Government at their word” on Value-Added Tax (VAT).
Business model switch sees RBC Nassau lay-offs
More lay-offs occurred at Royal Bank of Canada’s (RBC) Nassau branches last week, as the impact of its branch closures and business model changes starts to take effect.
Exuma resort buyer eyes $700k upgrades
The prospective purchaser of Exuma’s Club Peace & Plenty resort yesterday said it was planning $700,000 worth of upgrades to revitalise the destination and make it “the premier property in Georgetown proper”.
‘Tremendous opportunity lost’ on fiscal responsibility
The Chamber’s chairman has backed Fiscal Rules “principles” for the Bahamas, describing the Christie administration’s failure to initiate consultation on the issue as “a tremendous opportunity lost”.
RoyalFidelity: No international fund plans ‘in near future’
RoyalFidelity has no plans to create more international investment funds “in the near future”, with low domestic interest rates making it difficult to guarantee for Bahamian investors’ principal.
Bahamas moves to combat correspondent de-risking
Improvements to the Bahamas’ anti-money laundering framework and electronic payment solutions will help this nation combat the threat posed by correspondent banking ‘de-risking’, the Central Bank’s governor believes.
Air traffic sick-out creates ‘black eye’
The ‘sick-out’ by air traffic controllers over the Easter holiday weekend has given this nation’s tourism and aviation sector “a black eye”, with one Bahamian airline executive telling this newspaper: “It definitely cost us money”.
