PM takes ‘full ownership’ of business ease slippage
The Prime Minister yesterday said the Bahamas “takes full ownership” of its economic competitiveness decline, as he defended the Government’s decision to shrink the Value-Added Tax (VAT) payment ‘window’.
Super Value off target ‘no matter what we do’
Super Value’s owner yesterday blamed the struggling Bahamian economy for its failure to hit a 5 per cent sales growth target “no matter how hard we try”.
Govt is warned: ‘Keep hands out’ of private firms
The Government was yesterday urged to “let market forces prevail” and “keep its hands out” of private businesses, amid suggestions that Price Control is seeking greater powers of intervention.
Opposition slams $20m mortgage relief ‘farce’
Opposition politicians yesterday slammed the latest Mortgage Relief Plan (MRP)as “a farce”, and questioned why the Bahamian people were giving the banks a $20 million subsidy for activities they already financed themselves.
BPL to raise $100m in fiscal 2017-2018
Bahamas Power & Light (BPL) plans to raise $100 million in new debt financing during the 2017-2018 fiscal year, it was revealed yesterday, and is working on a new tariff structure and customer debt forgiveness.
Mortgage plan failing to tackle ‘root cause’
The Government’s revised Mortgage Relief Plan (MRP) fails to “address the underlying structural causes” of the crisis, Opposition politicians charged yesterday, urging it to instead focus on “big ideas”.
SUPERGREEN SOLUTIONS: ‘Cheap’ is not best on renewable energy
We are so often faced with rising costs without any option other than to squeeze the budget tighter, or go without some of those nice things that make life bearable. Earlier this year, we enjoyed a global low in oil prices. Combined with the reduced need for air conditioning in the winter, that meant lower electricity bills for most Bahamians. But ‘the times, they are a-changin’’, and summer is here. Our electricity bills will rise whether we like it or not. It is time to take our power back.
Construction approvals suffer $101m value fall
Construction approvals declined in value by 24 per cent or $1010.3million for the first three quarters of the 2015-2016 fiscal year, the Deputy Prime Minister said yesterday.
System loss reductions save Water Corp $15m
The Water and Sewerage Corporation’s (WSC) initiative to slash non-revenue water (NRW) losses has resulted in savings of $15 million to-date, the Deputy Prime Minister said yesterday.
Customs ‘challenged’ to match courier pace
Bahamas Customs yesterday admitted it had been experiencing “challenges” in keeping pace with the fast-growing courier sector, and the surge in imports generated by Bahamians purchasing online.
Bahamians told: ‘It’s two months of energy hell’
The head of Bahamas Power & Light’s (BPL) managerial union yesterday blamed ex-chairman, Leslie Miller, and his Board for Nassau’s ongoing power blackouts, and added: “The next two months are going to be hell.”
Landfill recycling resumption ‘still couple weeks away’
The Government has yet to reach a decision on the New Providence landfill operator’s request for its five-year management contract to be revised, with its recycling facility still a fortnight away from resuming operations.
Natural justice ‘can’t be inferred’ into job contracts
Natural justice “cannot be inferred” into a private employment contract, the Court of Appeal ruled yesterday, dismissing an action brought by a former Bahamian employee of US Airways.
Energy crisis an investor ‘turn off’
The Bahamas’ energy crisis is “turning off” both local and foreign investment in this economy, the Democratic National Alliance’s (DNA) leader charging yesterday that consumers were being “kept in the dark” on changes.
NIB gains $400,000 in past due payments
The National Insurance Board (NIB) has gained more than $400,000 in outstanding contributions since launching a payment plan incentive for employers in February, a Cabinet Minister said yesterday.
