Gov’t ‘strongly warned’ against storm relief tax
The Government was yesterday “warned very strongly” against implementing new or increased taxes to fund Hurricane Matthew relief, the Chamber arguing such a move will be “counter-productive” to the Bahamas’ recovery.
Labourers few for landscaper’s 25% business increase
A NEW Providence-based landscaping firm has increased staffing levels by almost 60 per cent to cope with post-Hurricane Matthew demands, its principal yesterday estimating business levels were 20-25 per cent higher than normal.
PM tells Sarkis: ‘We won’t help’ over Baha Mar
PRIME Minister Perry Christie’s office last night effectively told Sarkis Izmirlian he was ‘on his own’ in seeking to reacquire Baha Mar, as it hit out at the “extraordinary statements” attached to his latest offer.
Matthew ‘another nail in coffin’ for new auto dealers
THE Bahamas Motor Dealers Association’s (BMDA) president yesterday expressed fears that Hurricane Matthew will be “another nail in the coffin for new car sales”, with its impact carrying through into the 2017 New Year.
Chamber chair: $150m bond ‘very ‘difficult’ at once
THE proposed $150 million Hurricane Reconstruction Bond is likely to be “multi-tiered” to appeal to different investor groupings, the Chamber’s chairman said yesterday, expressing concern over whether the target sum could be raised in one shot.
Matthew’s $1bn blow not a ‘horrid disaster’
A FORMER finance minister says Hurricane Matthew may have cost the Bahamas up to $1 billion in total economic losses, yet the storm is not necessarily “the horrible disaster” it first appears.
Chamber ‘concerns’ over $150m storm restoration bonds
THE Chamber of Commerce has “some concerns” with the proposed $150 million Hurricane Reconstruction Bond that it is seeking to address with the Government, Tribune Business was told.
QC warns insurers over ‘fair’ payouts following Matthew
A WELL-known QC has urged insurance companies to be “fair and generous” with Hurricane Matthew victims over claims settlements, calling on them to avoid “a repeat performance” of 2004.
Insurer: Matthew losses to ‘stick around’ $400m
INSURERS believe Hurricane Matthew’s total insured losses will “stick around” the initial $400 million estimate, with one carrier suggesting it had received just 60 per cent of expected claims by last week’s end.
Liquor merchants hope no Kalik dry up on Brewery woe
LIQUOR merchants and beer lovers are hoping to avoid a Kalik shortage after Commonwealth Brewery suffered a massive hit from Hurricane Matthew, which may cause a production halt lasting “several weeks”.
Chamber of Commerce is targeting economy ‘kick-start’
THE Chamber of Commerce is aiming to “kick start the economy in the shortest possible time”, so that Bahamian businesses and employees can rebuild their lives in the wake of Hurricane Matthew’s devastation.
Freeport’s economy ‘gasping for survival’
FREEPORT faces “a very rough, tough road” just to reach a position of economic survival, a well-known QC warning that Hurricane Matthew had set the city back “many, many years”.
Sarkis’s new offer ‘too late to party’
A prominent QC yesterday dismissed Sarkis Izmirlian’s latest bid to reacquire the $3.5 billion Baha Mar project, saying: “He’s too late to the party.”
Matthew drives construction sector to five-year ‘peak’
The construction industry is the “busiest” it has been in five years as Hurricane Matthew rebuilding ramps up, the Bahamian Contractors Association’s (BCA) president yesterday estimating 90 per cent of the sector is now “fully engaged”.
$150m Hurricane Bond not set yet
The structure and target number for the Government’s proposed Hurricane Reconstruction bond are still being “bandied about”, Tribune Business was told yesterday, although the current goal is to raise $150 million.
