Baha Mar payouts tied to concessions
Baha Mar’s creditor committee has given “a strong indication” that the Government granted greater-than-normal investment incentives to the Chinese in return for payouts to Bahamians.
Private sector has ‘no legitimate case’ over labour reform
The private sector has “no legitimate case” for opposing the Government’s proposal to criminalise a business’s failure to inform it and the relevant trade union of planned redundancies, the Trades Union Congress’s (TUC) president said yesterday.
Chinese bank ‘not a fairy godmother’
The China Export-Import Bank is not acting as “a fairy godmother” in agreeing to finance payouts to Baha Mar’s Bahamian creditors, current and former Chamber of Commerce executives said yesterday.
Air traffic controllers in tourism ‘black eye’
A senior Bahamian airline executive yesterday warned that the weekend industrial action by air traffic controllers had given the tourism industry “a black eye we cannot afford”.
Central Bank wants reductions in cash based transactions
The Central Bank wants to reduce the traditional Bahamian reliance on cash-based transactions as part of its strategy to combat the threat posed by correspondent bank ‘de-risking’.
Unions warned: Shed ‘old world mentality’
Bahamian trade unions were yesterday urged to shed their “old world mentality”, a former Chamber chairman arguing that their value to worker protection had “diminished” due to stronger labour laws.
Baha Mar and VAT ‘sucked’ $700-$900m from the economy
Baha Mar and Value-Added Tax (VAT) have collectively “sucked” between $700-$900 million out of the Bahamian economy since 2015, a local businessman estimated yesterday, amid expectations that some funds may now be recovered.
Bahamas First in 94% first half profits jump
Bahamas First has unveiled a 94 per cent year-over-year increase in first half profits, although this was driven largely by a $4 million gain in the value of its investment holdings.
Don’t leave Bahamians ‘holding the bag’ again
The Government was yesterday urged by a former Contractors Association president to develop measures that will stop Bahamians “getting left holding the bag over and over again” on troubled foreign direct investment (FDI) projects.
$1m cargo carrier ‘makes some waves’
A Bahamian-owned cargo airline yesterday said it had “made some waves” since getting approval to enter the Florida market in January, and is now leveraging technology to expand its $1 million investment.
IAN FERGUSON: Breaking the grip of workplace addiction
Everyone has personal habits; some more than others. From gambling and sex to drugs and alcohol, addictions can become quite expensive for both the individual and the company that employs them.
Scotiabank affirms its Bahamas commitment
Scotiabank’s district head of for the north Caribbean has pledged that the institution is “committed to the Bahamas”, as it kicked-off its 60th anniversary celebrations.
Court upholds illegal worker contract rights
Employment contracts do not become “invalid or void” if an employee is working in the Bahamas illegally, the Court of Appeal has ruled.
All web shops urged to join Freeport fight
Attorneys on both sides of the Freeport gaming dispute yesterday urged other web shop operators to join their action, so that the issue of who is the sector’s regulator in that city and be “determined once and for all”.
Ex-contractor chief fears ‘poor results’ on CCA collection
A former Bahamian Contractors Association (BCA) president yesterday expressed fears that the industry will suffer “very poor results” in collecting the multi-million dollar sum owed to it by Baha Mar’s contractor.
