Port Dept ‘clears up’ $5m in owed revenue
The Port Department has “cleared up” the nearly $5 million in outstanding revenues highlighted by an Auditor General’s report last November, its acting Controller yesterday welcoming a follow-up assessment.
BTC: Aliv taking ‘Liberty’ on name
The Bahamas Telecommunications Company (BTC) is demanding that its new mobile rival stop using its controlling shareholder’s name to brand one of its product suites, setting the stage for a bruising trademark lawsuit.
GB provides 65% of Matthew claims
Grand Bahama has accounted for almost two-thirds of the $409 million in gross Hurricane Matthew claims reported to the Bahamas Insurance Association (BIA) to-date.
Sands: Doctor, care quality ‘impossible’ if 70% NHI pay cut
A well-known physician says it is “going to be incredibly difficult, if not impossible” for Bahamian doctors to run quality medical practices with the 66-77 per cent compensation cuts proposed by the National Health Insurance (NHI) scheme.
FNM deputy pledges repeal of Freeport’s investments regime
The FNM’s deputy leader yesterday pledged the party will repeal Freeport’s new investment regime if elected to government, amid continuing uncertainty over whether businesses should apply to receive continued tax exemptions.
‘Russian roulette’ fear over Freeport tax break sign-up
The Grand Bahama Port Authority’s (GBPA) former attorney is “completely disassociating myself” from an advisory suggesting Freeport businesses apply for renewal of their tax breaks, with some arguing that to do so is akin to “playing Russian roulette”.
Baha Mar owner: April 21 ‘no sham’
Baha Mar’s new owner yesterday said it will not repeat the mistakes of previous developer, Sarkis Izmirlian, and reassured that its ‘soft opening’ on April 21 is “not a sham”.
CTFE confident casino concerns all addressed
Baha Mar new owner is confident it has addressed any concerns over its suitability for a gaming license, adding that its casino could rival those in Las Vegas or other global gaming destinations.
Newly-opened PI hotel ‘comes alive’
The Warwick Paradise Island resort expects occupancy levels will continue climbing following last week’s official opening, with executives telling this newspaper: “The hotel has come a long way”.
Road Traffic: Commercial vehicle month ‘good now’
The Road Traffic Department’s principal yesterday said it had finally gotten a handle on the massive licensing backlog caused by commercial vehicle month month falling in March.
Aliv’s bond offering ‘100% oversubscribed’
The Bahamas’ new mobile operator yesterday said it had received “a resounding vote of confidence” from local investors, after its $30 million bond offering was “100 per cent oversubscribed”.
PM’s Office sees budget quadruple
The Government has quadrupled the 2016-2017 Budget for the Prime Minister’s Office to $79.947 million, an increase that was yesterday branded “absolutely crazy” by its political opponents.
Bahamas needs $160m primary balance swing
The Bahamas needs a $160 million “adjustment” to its primary fiscal balance if this nation’s debt-to-GDP ratio is to achieve long-term sustainability, the Inter-American Development Bank (IDB) has warned.
Road Traffic pledges to ‘burn midnight oil’ over vehicle backlog
The Road Traffic Department’s top executive yesterday pledged it will “burn the midnight oil” to alleviate a massive licensing backlog caused by March being commercial vehicle month.
Bahamas ranked low on financial stability reporting’s quality
The Central Bank has been criticised by an International Monetary Fund (IMF) paper over the quality of its Financial Stability Report, which was ranked fourth-bottom out of 20 Latin American and Caribbean nations.
